ETILX vs. AIRR

Last updated Jun 23, 2026

ETILX (Eventide Gilead Class I) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both funds - ETILX is a Mid Cap Growth Equities fund managed by Eventide Funds, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index. Over the past 10 years, ETILX returned 14.45%/yr vs 22.39%/yr for AIRR. A 0.66 correlation means they provide meaningful diversification when combined. ETILX charges 1.11%/yr vs 0.69%/yr for AIRR.

Performance

ETILX vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eventide Gilead Class I (ETILX) and First Trust RBA American Industrial Renaissance ETF (AIRR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETILX achieves a 17.17% return, which is significantly lower than AIRR's 35.61% return. Over the past 10 years, ETILX has underperformed AIRR with an annualized return of 14.45%, while AIRR has yielded a comparatively higher 22.39% annualized return.

ETILX

• 1D: 2.71%
• 1M: 5.44%
• YTD: 17.17%
• 6M: 15.05%
• 1Y: 37.62%
• 3Y*: 15.55%
• 5Y*: 4.02%
• 10Y*: 14.45%

AIRR

• 1D: 1.80%
• 1M: 6.55%
• YTD: 35.61%
• 6M: 31.10%
• 1Y: 71.43%
• 3Y*: 37.98%
• 5Y*: 27.26%
• 10Y*: 22.39%

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

ETILX vs. AIRR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ETILX Eventide Gilead Class I	17.17%	23.77%	-0.03%	22.76%	-34.03%	11.44%	55.44%	34.11%	-2.35%	33.09%
AIRR First Trust RBA American Industrial Renaissance ETF	35.61%	27.92%	33.45%	31.43%	-2.08%	33.01%	17.17%	33.97%	-20.57%	16.28%

Correlation

The correlation between ETILX and AIRR is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Mar 11, 2014	0.66

The correlation between ETILX and AIRR shifts across timeframes, from 0.64 (10 years) to 0.76 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

ETILX vs. AIRR — Risk / Return Rank

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

ETILX

ETILX Risk / Return Rank: 52
ETILX Sharpe Ratio Rank: 55
ETILX Sortino Ratio Rank: 50
ETILX Omega Ratio Rank: 50
ETILX Calmar Ratio Rank: 51
ETILX Martin Ratio Rank: 54

AIRR

AIRR Risk / Return Rank: 85
AIRR Sharpe Ratio Rank: 87
AIRR Sortino Ratio Rank: 81
AIRR Omega Ratio Rank: 75
AIRR Calmar Ratio Rank: 91
AIRR Martin Ratio Rank: 90

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.

ETILX vs. AIRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eventide Gilead Class I (ETILX) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.

	ETILX	AIRR	Difference
Sharpe ratio: Return per unit of total volatility	2.01	2.74	-0.73
Sortino ratio: Return per unit of downside risk	2.74	3.45	-0.71
Omega ratio: Gain probability vs. loss probability	1.36	1.43	-0.07
Calmar ratio: Return relative to maximum drawdown	2.61	5.49	-2.88
Martin ratio: Return relative to average drawdown	10.33	20.05	-9.72

ETILX vs. AIRR - Sharpe Ratio Comparison

The current ETILX Sharpe Ratio is 2.01, which is comparable to the AIRR Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of ETILX and AIRR, 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

ETILX vs. AIRR - Drawdown Comparison

The maximum ETILX drawdown since its inception was -41.30%, roughly equal to the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for ETILX and AIRR.

Drawdown Indicators

	ETILX	AIRR	Difference
Max Drawdown Largest peak-to-trough decline	-41.30%	-42.37%	+1.07%
Max Drawdown (1Y) Largest decline over 1 year	-14.40%	-13.09%	-1.31%
Max Drawdown (3Y) Largest decline over 3 years	-25.71%	-27.95%	+2.24%
Max Drawdown (5Y) Largest decline over 5 years	-41.30%	-27.95%	-13.35%
Max Drawdown (10Y) Largest decline over 10 years	-41.30%	-42.37%	+1.07%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-11.49%	-7.47%	-4.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	3.57%	+0.06%

Volatility

ETILX vs. AIRR - Volatility Comparison

The current volatility for Eventide Gilead Class I (ETILX) is 7.38%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 8.25%. This indicates that ETILX experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETILX	AIRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.38%	8.25%	-0.87%
Volatility (6M) Calculated over the trailing 6-month period	15.43%	20.44%	-5.01%
Volatility (1Y) Calculated over the trailing 1-year period	18.71%	26.28%	-7.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.35%	25.42%	-1.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.49%	26.35%	-2.86%

ETILX vs. AIRR - Expense Ratio Comparison

ETILX has a 1.11% expense ratio, which is higher than AIRR's 0.69% expense ratio.

Dividends

ETILX vs. AIRR - Dividend Comparison

ETILX's dividend yield for the trailing twelve months is around 10.30%, more than AIRR's 0.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIRR First Trust RBA American Industrial Renaissance ETF	0.13%	0.19%	0.18%	0.23%	0.12%	0.05%	0.10%	0.20%	0.43%	0.30%	0.08%	0.47%
ETILX Eventide Gilead Class I	10.30%	12.07%	1.25%	0.00%	5.36%	6.30%	0.79%	3.14%	5.31%	0.00%	0.00%	1.13%

Frequently Asked Questions

Can I hold both ETILX and AIRR in my portfolio?

ETILX and AIRR have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETILX or AIRR?

AIRR has higher volatility (8.25%) compared to ETILX (7.38%). In terms of maximum drawdown, ETILX dropped -41.30% vs AIRR's -42.37%.

Which has better risk-adjusted returns?

AIRR currently has the higher Sharpe Ratio (2.74 vs 2.01), 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.