IXC vs. NVIR

Last updated Jun 4, 2026

IXC (iShares Global Energy ETF) and NVIR (Horizon Kinetics Energy Remediation ETF) are both Energy Equities funds. IXC is passively managed, while NVIR is actively managed. Over the past 3 years, IXC returned 18.84%/yr vs 19.49%/yr for NVIR. Their correlation of 0.84 suggests significant overlap in exposure. IXC charges 0.46%/yr vs 0.85%/yr for NVIR.

Performance

IXC vs. NVIR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Global Energy ETF (IXC) and Horizon Kinetics Energy Remediation ETF (NVIR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IXC achieves a 32.22% return, which is significantly higher than NVIR's 22.17% return.

IXC

• 1D: 0.87%
• 1M: -1.75%
• YTD: 32.22%
• 6M: 30.00%
• 1Y: 48.10%
• 3Y*: 18.84%
• 5Y*: 19.64%
• 10Y*: 10.29%

NVIR

• 1D: 0.66%
• 1M: -1.59%
• YTD: 22.17%
• 6M: 19.29%
• 1Y: 34.67%
• 3Y*: 19.49%
• 5Y*: —
• 10Y*: —

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

IXC vs. NVIR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IXC iShares Global Energy ETF	32.22%	13.98%	1.95%	6.49%
NVIR Horizon Kinetics Energy Remediation ETF	22.17%	9.84%	17.53%	6.90%

Correlation

The correlation between IXC and NVIR is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Feb 23, 2023	0.84

The correlation between IXC and NVIR has been stable across timeframes, ranging from 0.76 to 0.84 - a consistent structural relationship.

IXC vs. NVIR - Sectors Allocation Comparison

Sectors	IXC	NVIR
Energy	100.0%	78.9%
Basic Materials	-	1.6%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	1.1%
Industrials	-	11.1%
Real Estate	-	-
Technology	-	2.6%
Utilities	-	3.1%

Return for Risk

IXC vs. NVIR — Risk / Return Rank

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

IXC

IXC Risk / Return Rank: 76
IXC Sharpe Ratio Rank: 78
IXC Sortino Ratio Rank: 70
IXC Omega Ratio Rank: 68
IXC Calmar Ratio Rank: 87
IXC Martin Ratio Rank: 77

NVIR

NVIR Risk / Return Rank: 70
NVIR Sharpe Ratio Rank: 66
NVIR Sortino Ratio Rank: 62
NVIR Omega Ratio Rank: 62
NVIR Calmar Ratio Rank: 87
NVIR Martin Ratio Rank: 75

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.

IXC vs. NVIR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Energy ETF (IXC) and Horizon Kinetics Energy Remediation ETF (NVIR). 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.

	IXC	NVIR	Difference
Sharpe ratio: Return per unit of total volatility	2.58	2.18	+0.40
Sortino ratio: Return per unit of downside risk	3.25	2.88	+0.37
Omega ratio: Gain probability vs. loss probability	1.42	1.37	+0.05
Calmar ratio: Return relative to maximum drawdown	5.00	4.95	+0.05
Martin ratio: Return relative to average drawdown	15.10	14.32	+0.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IXC vs. NVIR - Sharpe Ratio Comparison

The current IXC Sharpe Ratio is 2.58, which is comparable to the NVIR Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of IXC and NVIR, 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

	IXC	NVIR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	2.18	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.90	-0.58

Drawdowns

IXC vs. NVIR - Drawdown Comparison

The maximum IXC drawdown since its inception was -67.88%, which is greater than NVIR's maximum drawdown of -22.47%. Use the drawdown chart below to compare losses from any high point for IXC and NVIR.

Drawdown Indicators

	IXC	NVIR	Difference
Max Drawdown Largest peak-to-trough decline	-67.88%	-22.47%	-45.41%
Max Drawdown (1Y) Largest decline over 1 year	-9.66%	-7.04%	-2.62%
Max Drawdown (3Y) Largest decline over 3 years	-19.06%	-22.47%	+3.41%
Max Drawdown (5Y) Largest decline over 5 years	-24.93%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-64.16%	—	—
Current Drawdown Current decline from peak	-4.84%	-3.08%	-1.76%
Average Drawdown Average peak-to-trough decline	-17.48%	-4.58%	-12.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	2.43%	+0.77%

Volatility

IXC vs. NVIR - Volatility Comparison

iShares Global Energy ETF (IXC) has a higher volatility of 7.50% compared to Horizon Kinetics Energy Remediation ETF (NVIR) at 5.78%. This indicates that IXC's price experiences larger fluctuations and is considered to be riskier than NVIR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IXC	NVIR	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.50%	5.78%	+1.72%
Volatility (6M) Calculated over the trailing 6-month period	15.42%	12.26%	+3.16%
Volatility (1Y) Calculated over the trailing 1-year period	18.75%	16.05%	+2.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.50%	19.24%	+4.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.85%	19.24%	+7.61%

IXC vs. NVIR - Expense Ratio Comparison

IXC has a 0.46% expense ratio, which is lower than NVIR's 0.85% expense ratio.

Dividends

IXC vs. NVIR - Dividend Comparison

IXC's dividend yield for the trailing twelve months is around 2.79%, more than NVIR's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IXC iShares Global Energy ETF	2.79%	3.68%	4.56%	3.45%	4.76%	3.98%	4.86%	7.00%	3.51%	3.05%	2.86%	3.77%
NVIR Horizon Kinetics Energy Remediation ETF	0.75%	0.92%	1.50%	1.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IXC and NVIR in my portfolio?

IXC and NVIR have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IXC or NVIR?

IXC has higher volatility (7.50%) compared to NVIR (5.78%). In terms of maximum drawdown, IXC dropped -67.88% vs NVIR's -22.47%.

Which ETF is better, IXC or NVIR?

On 3-year performance, NVIR leads with 19.49% vs 18.84% for IXC. On fees, IXC is cheaper at 0.46% per year. On volatility, NVIR has been the lower-risk option at 5.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IXC or NVIR?

Over the 3-year period, NVIR has performed better with a 19.49% return vs 18.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IXC or NVIR?

IXC is cheaper with a 0.46% expense ratio, compared with 0.85% for NVIR.

Which ETF pays a higher dividend yield, IXC or NVIR?

IXC has the higher dividend yield at 2.79%, compared with 0.75% for NVIR.

What is the main difference between IXC and NVIR?

They also come from different issuers: iShares and Horizon. Their fees differ too: 0.46% for IXC and 0.85% for NVIR.

Which has better risk-adjusted returns?

IXC currently has the higher Sharpe Ratio (2.58 vs 2.18), 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.