CNAV vs. RULE

Last updated Aug 4, 2026

CNAV (Mohr Company Nav ETF) and RULE (Adaptive Core ETF) are both exchange-traded funds - CNAV is a Large Cap Blend Equities fund actively managed by Mohr, while RULE is a Diversified Portfolio fund actively managed by Mohr. Both are actively managed. Over the past year, CNAV returned 40.95% vs 32.27% for RULE. Their correlation of 0.89 means they have usually moved in the same direction. CNAV charges 1.31%/yr vs 1.10%/yr for RULE.

Performance

CNAV vs. RULE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mohr Company Nav ETF (CNAV) and Adaptive Core ETF (RULE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNAV achieves a 26.09% return, which is significantly lower than RULE's 29.17% return.

CNAV

• 1D: 1.27%
• 1M: -8.86%
• 6M: 17.58%
• YTD: 26.09%
• 1Y: 40.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.47%

RULE

• 1D: 0.85%
• 1M: -5.47%
• 6M: 15.60%
• YTD: 29.17%
• 1Y: 32.27%
• 3Y*: 15.20%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.99%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CNAV Mohr Company Nav ETF	$251.45K	$267.46K	$338.99K
RULE Adaptive Core ETF	$214.54K	$131.19K	$80.97K

CNAV vs. RULE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CNAV Mohr Company Nav ETF	26.09%	16.80%	6.05%
RULE Adaptive Core ETF	29.17%	4.60%	0.16%

Correlation

The correlation between CNAV and RULE is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	0.89

The correlation between CNAV and RULE has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

CNAV vs. RULE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CNAV

CNAV Risk / Return Rank: 47
CNAV Sharpe Ratio Rank: 46
CNAV Sortino Ratio Rank: 43
CNAV Omega Ratio Rank: 46
CNAV Calmar Ratio Rank: 42
CNAV Martin Ratio Rank: 55

RULE

RULE Risk / Return Rank: 47
RULE Sharpe Ratio Rank: 46
RULE Sortino Ratio Rank: 43
RULE Omega Ratio Rank: 46
RULE Calmar Ratio Rank: 45
RULE Martin Ratio Rank: 54

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CNAV vs. RULE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mohr Company Nav ETF (CNAV) and Adaptive Core ETF (RULE). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CNAV	RULE	Difference
Sharpe ratio: Return per unit of total volatility	1.20	1.19	+0.01
Sortino ratio: Return per unit of downside risk	1.69	1.68	0.00
Omega ratio: Gain probability vs. loss probability	1.23	1.22	0.00
Calmar ratio: Return relative to maximum drawdown	1.59	1.66	-0.07
Martin ratio: Return relative to average drawdown	6.95	6.68	+0.27

CNAV vs. RULE - Sharpe Ratio Comparison

The current CNAV Sharpe Ratio is 1.20, which is comparable to the RULE Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of CNAV and RULE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CNAV vs. RULE - Drawdown Comparison

The maximum CNAV drawdown since its inception was -30.06%, roughly equal to the maximum RULE drawdown of -30.48%. Use the drawdown chart below to compare losses from any high point for CNAV and RULE.

Drawdown Indicators

	CNAV	RULE	Difference
Max Drawdown Largest peak-to-trough decline	-30.06%	-30.48%	+0.42%
Max Drawdown (1Y) Largest decline over 1 year	-25.80%	-19.49%	-6.31%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.21%	—
Current Drawdown Current decline from peak	-19.14%	-13.95%	-5.19%
Average Drawdown Average peak-to-trough decline	-5.87%	-14.72%	+8.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.91%	4.84%	+1.07%

Volatility

CNAV vs. RULE - Volatility Comparison

Mohr Company Nav ETF (CNAV) has a higher volatility of 15.11% compared to Adaptive Core ETF (RULE) at 11.25%. This indicates that CNAV's price experiences larger fluctuations and is considered to be riskier than RULE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNAV	RULE	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.11%	11.25%	+3.86%
Volatility (6M) Calculated over the trailing 6-month period	31.52%	24.68%	+6.84%
Volatility (1Y) Calculated over the trailing 1-year period	34.30%	27.30%	+7.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.42%	16.87%	+14.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.42%	16.87%	+14.55%

CNAV vs. RULE - Expense Ratio Comparison

CNAV has a 1.31% expense ratio, which is higher than RULE's 1.10% expense ratio.

Dividends

CNAV vs. RULE - Dividend Comparison

Neither CNAV nor RULE has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
CNAV Mohr Company Nav ETF	0.00%	0.00%	0.00%	0.00%	0.00%
RULE Adaptive Core ETF	0.00%	0.00%	0.00%	2.01%	0.01%

Frequently Asked Questions

Can I hold both CNAV and RULE in my portfolio?

With a correlation of 0.92, CNAV and RULE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, CNAV or RULE?

CNAV has higher volatility (15.11%) compared to RULE (11.25%). In terms of maximum drawdown, CNAV dropped -30.06% vs RULE's -30.48%.

Which ETF is better, CNAV or RULE?

On 1-year performance, CNAV leads with 40.95% vs 32.27% for RULE. On fees, RULE is cheaper at 1.10% per year. On volatility, RULE has been the lower-risk option at 11.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CNAV or RULE?

Over the 1-year period, CNAV has performed better with a 40.95% return vs 32.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CNAV or RULE?

RULE is cheaper with a 1.10% expense ratio, compared with 1.31% for CNAV.

Which ETF pays a higher dividend yield, CNAV or RULE?

CNAV and RULE have nearly identical dividend yields, around 0.00%.

What is the main difference between CNAV and RULE?

CNAV is categorized as Large Cap Blend Equities, while RULE is Diversified Portfolio. Their fees differ too: 1.31% for CNAV and 1.10% for RULE.

Which has better risk-adjusted returns?

CNAV currently has the higher Sharpe Ratio (1.20 vs 1.19), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.