CVAR vs. NIXT

Last updated Apr 1, 2026

Compare and contrast key facts about Cultivar ETF (CVAR) and Research Affiliates Deletions ETF (NIXT).

CVAR and NIXT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CVAR is an actively managed fund by Cultivar. It was launched on Dec 22, 2021. NIXT is a passively managed fund by Research Affiliates that tracks the performance of the Research Affiliates Deletions Index. It was launched on Sep 9, 2024.

Performance

CVAR vs. NIXT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cultivar ETF (CVAR) and Research Affiliates Deletions ETF (NIXT). The values are adjusted to include any dividend payments, if applicable.

CVAR vs. NIXT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CVAR Cultivar ETF	-0.40%	14.95%	-1.48%
NIXT Research Affiliates Deletions ETF	4.31%	4.94%	4.89%

Returns By Period

In the year-to-date period, CVAR achieves a -0.40% return, which is significantly lower than NIXT's 4.31% return.

CVAR

• 1D: 1.10%
• 1M: -7.18%
• YTD: -0.40%
• 6M: 1.93%
• 1Y: 10.52%
• 3Y*: 7.39%
• 5Y*: —
• 10Y*: —

NIXT

• 1D: 3.90%
• 1M: -3.26%
• YTD: 4.31%
• 6M: 6.14%
• 1Y: 20.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CVAR vs. NIXT - Expense Ratio Comparison

CVAR has a 0.87% expense ratio, which is higher than NIXT's 0.09% expense ratio.

CVAR

Cultivar ETF

NIXT

Research Affiliates Deletions ETF

Return for Risk

CVAR vs. NIXT — Risk / Return Rank

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

CVAR

CVAR Risk / Return Rank: 37
CVAR Sharpe Ratio Rank: 37
CVAR Sortino Ratio Rank: 37
CVAR Omega Ratio Rank: 34
CVAR Calmar Ratio Rank: 39
CVAR Martin Ratio Rank: 39

NIXT

NIXT Risk / Return Rank: 47
NIXT Sharpe Ratio Rank: 44
NIXT Sortino Ratio Rank: 49
NIXT Omega Ratio Rank: 42
NIXT Calmar Ratio Rank: 50
NIXT Martin Ratio Rank: 49

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.

CVAR vs. NIXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cultivar ETF (CVAR) and Research Affiliates Deletions ETF (NIXT). 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.

	CVAR	NIXT	Difference
Sharpe ratio Return per unit of total volatility	0.71	0.80	-0.09
Sortino ratio Return per unit of downside risk	1.10	1.30	-0.20
Omega ratio Gain probability vs. loss probability	1.14	1.17	-0.02
Calmar ratio Return relative to maximum drawdown	1.01	1.28	-0.27
Martin ratio Return relative to average drawdown	3.64	4.64	-1.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CVAR vs. NIXT - Sharpe Ratio Comparison

The current CVAR Sharpe Ratio is 0.71, which is comparable to the NIXT Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of CVAR and NIXT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CVAR	NIXT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	0.80	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.39	-0.04

Correlation

The correlation between CVAR and NIXT is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CVAR vs. NIXT - Dividend Comparison

CVAR's dividend yield for the trailing twelve months is around 1.53%, which matches NIXT's 1.53% yield.

	TTM	2025	2024	2023	2022
CVAR Cultivar ETF	1.53%	1.53%	3.57%	1.41%	5.52%
NIXT Research Affiliates Deletions ETF	1.53%	1.64%	1.39%	0.00%	0.00%

Drawdowns

CVAR vs. NIXT - Drawdown Comparison

The maximum CVAR drawdown since its inception was -19.39%, smaller than the maximum NIXT drawdown of -27.75%. Use the drawdown chart below to compare losses from any high point for CVAR and NIXT.

Drawdown Indicators

	CVAR	NIXT	Difference
Max Drawdown Largest peak-to-trough decline	-19.39%	-27.75%	+8.36%
Max Drawdown (1Y) Largest decline over 1 year	-10.62%	-15.77%	+5.15%
Current Drawdown Current decline from peak	-7.18%	-4.07%	-3.11%
Average Drawdown Average peak-to-trough decline	-5.49%	-6.43%	+0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	4.36%	-1.39%

Volatility

CVAR vs. NIXT - Volatility Comparison

The current volatility for Cultivar ETF (CVAR) is 3.76%, while Research Affiliates Deletions ETF (NIXT) has a volatility of 7.53%. This indicates that CVAR experiences smaller price fluctuations and is considered to be less risky than NIXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CVAR	NIXT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.76%	7.53%	-3.77%
Volatility (6M) Calculated over the trailing 6-month period	8.81%	15.56%	-6.75%
Volatility (1Y) Calculated over the trailing 1-year period	14.80%	26.04%	-11.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.70%	23.78%	-8.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.70%	23.78%	-8.08%