AVRY vs. NRSH

Last updated Jun 4, 2026

AVRY (Avory Foundational ETF) and NRSH (Aztlan North America Nearshoring Stock Selection ETF) are both Large Cap Blend Equities funds. AVRY is actively managed, while NRSH is passively managed. At a 0.31 correlation, their price movements are largely independent. AVRY charges 0.89%/yr vs 0.75%/yr for NRSH.

Performance

AVRY vs. NRSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avory Foundational ETF (AVRY) and Aztlan North America Nearshoring Stock Selection ETF (NRSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AVRY

• 1D: -2.89%
• 1M: -0.52%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NRSH

• 1D: 0.51%
• 1M: 13.93%
• YTD: 47.92%
• 6M: 46.01%
• 1Y: 58.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AVRY vs. NRSH - Yearly Performance Comparison

	2026 (YTD)
AVRY Avory Foundational ETF	-7.09%
NRSH Aztlan North America Nearshoring Stock Selection ETF	34.15%

Correlation

The correlation between AVRY and NRSH is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 23, 2026	0.31

AVRY vs. NRSH - Sectors Allocation Comparison

Sectors	AVRY	NRSH
Technology	40.3%	35.5%
Consumer Cyclical	21.8%	-
Communication Services	13.8%	-
Industrials	8.8%	58.7%
Financial Services	7.5%	-
Healthcare	5.8%	-
Utilities	2.0%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	2.5%
Real Estate	-	5.8%

Return for Risk

AVRY vs. NRSH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NRSH

NRSH Risk / Return Rank: 76
NRSH Sharpe Ratio Rank: 74
NRSH Sortino Ratio Rank: 68
NRSH Omega Ratio Rank: 66
NRSH Calmar Ratio Rank: 89
NRSH Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVRY vs. NRSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avory Foundational ETF (AVRY) and Aztlan North America Nearshoring Stock Selection ETF (NRSH). 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

	AVRY	NRSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.64	1.11	-1.75

Drawdowns

AVRY vs. NRSH - Drawdown Comparison

The maximum AVRY drawdown since its inception was -21.58%, smaller than the maximum NRSH drawdown of -24.01%. Use the drawdown chart below to compare losses from any high point for AVRY and NRSH.

Drawdown Indicators

	AVRY	NRSH	Difference
Max Drawdown Largest peak-to-trough decline	-21.58%	-24.01%	+2.43%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.94%	—
Current Drawdown Current decline from peak	-8.49%	0.00%	-8.49%
Average Drawdown Average peak-to-trough decline	-11.91%	-5.62%	-6.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.50%	—

Volatility

Volatility by Period

	AVRY	NRSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.27%	—
Volatility (1Y) Calculated over the trailing 1-year period	29.05%	24.44%	+4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.05%	21.54%	+7.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.05%	21.54%	+7.51%

AVRY vs. NRSH - Expense Ratio Comparison

AVRY has a 0.89% expense ratio, which is higher than NRSH's 0.75% expense ratio.

Dividends

AVRY vs. NRSH - Dividend Comparison

AVRY has not paid dividends to shareholders, while NRSH's dividend yield for the trailing twelve months is around 0.28%.

Position	TTM	2025	2024	2023
AVRY Avory Foundational ETF	0.00%	0.00%	0.00%	0.00%
NRSH Aztlan North America Nearshoring Stock Selection ETF	0.28%	0.42%	0.90%	0.17%

Frequently Asked Questions

Can I hold both AVRY and NRSH in my portfolio?

AVRY and NRSH have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AVRY or NRSH?

On fees, NRSH is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AVRY or NRSH?

NRSH is cheaper with a 0.75% expense ratio, compared with 0.89% for AVRY.

Which ETF pays a higher dividend yield, AVRY or NRSH?

NRSH has the higher dividend yield at 0.28%, compared with 0.00% for AVRY.

What is the main difference between AVRY and NRSH?

They also come from different issuers: Avory & Co. and Aztlan. Their fees differ too: 0.89% for AVRY and 0.75% for NRSH.