AFOS vs. TEXN

Last updated Jun 4, 2026

AFOS (ARS Focused Opportunities Strategy ETF) and TEXN (iShares Texas Equity ETF) are both Large Cap Blend Equities funds. A 0.56 correlation means they provide meaningful diversification when combined. AFOS charges 0.45%/yr vs 0.20%/yr for TEXN.

Performance

AFOS vs. TEXN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARS Focused Opportunities Strategy ETF (AFOS) and iShares Texas Equity ETF (TEXN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFOS achieves a 32.04% return, which is significantly higher than TEXN's 25.94% return.

AFOS

• 1D: -0.29%
• 1M: 8.94%
• YTD: 32.04%
• 6M: 37.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TEXN

• 1D: -0.24%
• 1M: 5.35%
• YTD: 25.94%
• 6M: 24.41%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AFOS vs. TEXN - Yearly Performance Comparison

	2026 (YTD)	2025
AFOS ARS Focused Opportunities Strategy ETF	32.04%	36.15%
TEXN iShares Texas Equity ETF	25.94%	8.66%

Correlation

The correlation between AFOS and TEXN is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	0.56

Return for Risk

AFOS vs. TEXN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARS Focused Opportunities Strategy ETF (AFOS) and iShares Texas Equity ETF (TEXN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AFOS	TEXN	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	4.35	2.75	+1.60

Drawdowns

AFOS vs. TEXN - Drawdown Comparison

The maximum AFOS drawdown since its inception was -11.52%, which is greater than TEXN's maximum drawdown of -6.34%. Use the drawdown chart below to compare losses from any high point for AFOS and TEXN.

Drawdown Indicators

	AFOS	TEXN	Difference
Max Drawdown Largest peak-to-trough decline	-11.52%	-6.34%	-5.18%
Current Drawdown Current decline from peak	-0.29%	-0.24%	-0.05%
Average Drawdown Average peak-to-trough decline	-1.37%	-1.12%	-0.25%

Volatility

Volatility by Period

	AFOS	TEXN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	20.19%	14.19%	+6.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.19%	14.19%	+6.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.19%	14.19%	+6.00%

AFOS vs. TEXN - Expense Ratio Comparison

AFOS has a 0.45% expense ratio, which is higher than TEXN's 0.20% expense ratio.

Dividends

AFOS vs. TEXN - Dividend Comparison

AFOS's dividend yield for the trailing twelve months is around 0.22%, less than TEXN's 1.01% yield.

Position	TTM	2025
AFOS ARS Focused Opportunities Strategy ETF	0.22%	0.30%
TEXN iShares Texas Equity ETF	1.01%	0.86%

Frequently Asked Questions

Can I hold both AFOS and TEXN in my portfolio?

AFOS and TEXN have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AFOS or TEXN?

On fees, TEXN is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AFOS or TEXN?

TEXN is cheaper with a 0.20% expense ratio, compared with 0.45% for AFOS.

Which ETF pays a higher dividend yield, AFOS or TEXN?

TEXN has the higher dividend yield at 1.01%, compared with 0.22% for AFOS.

What is the main difference between AFOS and TEXN?

They also come from different issuers: ARS Investment Partners and iShares. Their fees differ too: 0.45% for AFOS and 0.20% for TEXN.