HERO vs. NACP

Last updated Jun 4, 2026

HERO (Global X Video Games & Esports ETF) and NACP (Impact Shares NAACP Minority Empowerment ETF) are both Large Cap Growth Equities funds - HERO tracks the Solactive Video Games & Esports Index while NACP tracks the Morningstar Minority Empowerment Index. Both are passively managed. Over the past 5 years, HERO returned -3.62%/yr vs 15.98%/yr for NACP. A 0.60 correlation means they provide meaningful diversification when combined. HERO charges 0.50%/yr vs 0.49%/yr for NACP.

Performance

HERO vs. NACP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Video Games & Esports ETF (HERO) and Impact Shares NAACP Minority Empowerment ETF (NACP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HERO achieves a -13.80% return, which is significantly lower than NACP's 22.18% return.

HERO

• 1D: -2.41%
• 1M: -2.63%
• YTD: -13.80%
• 6M: -16.14%
• 1Y: -12.41%
• 3Y*: 9.75%
• 5Y*: -3.62%
• 10Y*: —

NACP

• 1D: -0.13%
• 1M: 9.92%
• YTD: 22.18%
• 6M: 20.98%
• 1Y: 43.81%
• 3Y*: 27.18%
• 5Y*: 15.98%
• 10Y*: —

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

HERO vs. NACP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HERO Global X Video Games & Esports ETF	-13.80%	28.74%	17.65%	8.36%	-33.42%	-8.37%	91.02%	9.12%
NACP Impact Shares NAACP Minority Empowerment ETF	22.18%	21.38%	23.93%	29.69%	-23.05%	27.62%	26.00%	6.82%

Correlation

The correlation between HERO and NACP is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Nov 1, 2019	0.60

The correlation between HERO and NACP has been stable across timeframes, ranging from 0.55 to 0.63 - a consistent structural relationship.

HERO vs. NACP - Sectors Allocation Comparison

Sectors	HERO	NACP
Communication Services	93.0%	9.8%
Technology	5.6%	35.8%
Industrials	1.4%	8.7%
Basic Materials	-	1.5%
Consumer Cyclical	-	11.1%
Consumer Defensive	-	3.6%
Energy	-	5.0%
Financial Services	-	10.6%
Healthcare	-	9.2%
Real Estate	-	1.3%
Utilities	-	3.4%

Return for Risk

HERO vs. NACP — Risk / Return Rank

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

HERO

HERO Risk / Return Rank: 4
HERO Sharpe Ratio Rank: 3
HERO Sortino Ratio Rank: 4
HERO Omega Ratio Rank: 3
HERO Calmar Ratio Rank: 5
HERO Martin Ratio Rank: 5

NACP

NACP Risk / Return Rank: 88
NACP Sharpe Ratio Rank: 90
NACP Sortino Ratio Rank: 89
NACP Omega Ratio Rank: 86
NACP Calmar Ratio Rank: 84
NACP Martin Ratio Rank: 89

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.

HERO vs. NACP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Video Games & Esports ETF (HERO) and Impact Shares NAACP Minority Empowerment ETF (NACP). 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.

	HERO	NACP	Difference
Sharpe ratio Return per unit of total volatility	-0.64	3.14	-3.78
Sortino ratio Return per unit of downside risk	-0.77	4.17	-4.93
Omega ratio Gain probability vs. loss probability	0.91	1.54	-0.63
Calmar ratio Return relative to maximum drawdown	-0.47	4.56	-5.03
Martin ratio Return relative to average drawdown	-0.88	20.04	-20.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HERO vs. NACP - Sharpe Ratio Comparison

The current HERO Sharpe Ratio is -0.64, which is lower than the NACP Sharpe Ratio of 3.14. The chart below compares the historical Sharpe Ratios of HERO and NACP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HERO	NACP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.64	3.14	-3.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.16	0.92	-1.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.93	-0.55

Drawdowns

HERO vs. NACP - Drawdown Comparison

The maximum HERO drawdown since its inception was -54.02%, which is greater than NACP's maximum drawdown of -30.96%. Use the drawdown chart below to compare losses from any high point for HERO and NACP.

Drawdown Indicators

	HERO	NACP	Difference
Max Drawdown Largest peak-to-trough decline	-54.02%	-30.96%	-23.06%
Max Drawdown (1Y) Largest decline over 1 year	-26.64%	-9.65%	-16.99%
Max Drawdown (3Y) Largest decline over 3 years	-26.64%	-19.66%	-6.98%
Max Drawdown (5Y) Largest decline over 5 years	-48.44%	-27.89%	-20.55%
Current Drawdown Current decline from peak	-27.46%	-0.13%	-27.33%
Average Drawdown Average peak-to-trough decline	-25.97%	-5.75%	-20.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.11%	2.19%	+11.92%

Volatility

HERO vs. NACP - Volatility Comparison

Global X Video Games & Esports ETF (HERO) has a higher volatility of 5.13% compared to Impact Shares NAACP Minority Empowerment ETF (NACP) at 4.44%. This indicates that HERO's price experiences larger fluctuations and is considered to be riskier than NACP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HERO	NACP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	4.44%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	15.10%	11.13%	+3.97%
Volatility (1Y) Calculated over the trailing 1-year period	19.52%	14.02%	+5.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.37%	17.47%	+5.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.50%	18.70%	+5.80%

HERO vs. NACP - Expense Ratio Comparison

HERO has a 0.50% expense ratio, which is higher than NACP's 0.49% expense ratio.

Dividends

HERO vs. NACP - Dividend Comparison

HERO's dividend yield for the trailing twelve months is around 1.88%, more than NACP's 0.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HERO Global X Video Games & Esports ETF	1.88%	1.62%	1.06%	0.73%	0.28%	0.79%	0.71%	0.17%	0.00%
NACP Impact Shares NAACP Minority Empowerment ETF	0.55%	0.62%	2.96%	1.28%	3.48%	3.06%	1.48%	1.22%	0.71%

Frequently Asked Questions

Can I hold both HERO and NACP in my portfolio?

HERO and NACP have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HERO or NACP?

HERO has higher volatility (5.13%) compared to NACP (4.44%). In terms of maximum drawdown, HERO dropped -54.02% vs NACP's -30.96%.

Which ETF is better, HERO or NACP?

On 5-year performance, NACP leads with 15.98% vs -3.62% for HERO. On fees, NACP is cheaper at 0.49% per year. On volatility, NACP has been the lower-risk option at 4.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HERO or NACP?

Over the 5-year period, NACP has performed better with a 15.98% return vs -3.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HERO or NACP?

NACP is cheaper with a 0.49% expense ratio, compared with 0.50% for HERO.

Which ETF pays a higher dividend yield, HERO or NACP?

HERO has the higher dividend yield at 1.88%, compared with 0.55% for NACP.

What is the main difference between HERO and NACP?

HERO tracks Solactive Video Games & Esports Index, while NACP tracks Morningstar Minority Empowerment Index. They also come from different issuers: Global X and Impact Shares. Their fees differ too: 0.50% for HERO and 0.49% for NACP.

Which has better risk-adjusted returns?

NACP currently has the higher Sharpe Ratio (3.14 vs -0.64), 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.