KAT vs. TEXN

Last updated Jun 23, 2026

KAT (Scharf ETF) and TEXN (iShares Texas Equity ETF) are both Large Cap Blend Equities funds. KAT is actively managed, while TEXN is passively managed. At a 0.45 correlation, their price movements are largely independent. KAT charges 0.75%/yr vs 0.20%/yr for TEXN.

Performance

KAT vs. TEXN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Scharf ETF (KAT) and iShares Texas Equity ETF (TEXN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KAT achieves a -2.36% return, which is significantly lower than TEXN's 21.67% return.

KAT

• 1D: -0.78%
• 1M: -2.67%
• YTD: -2.36%
• 6M: -2.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TEXN

• 1D: 0.91%
• 1M: -0.97%
• YTD: 21.67%
• 6M: 20.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KAT vs. TEXN - Yearly Performance Comparison

	2026 (YTD)	2025
KAT Scharf ETF	-2.36%	0.85%
TEXN iShares Texas Equity ETF	21.67%	3.84%

Correlation

The correlation between KAT and TEXN is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 25, 2025	0.45

KAT vs. TEXN - Sectors Allocation Comparison

Sectors	KAT	TEXN
Financial Services	25.1%	3.9%
Healthcare	22.3%	2.7%
Industrials	14.6%	16.3%
Technology	14.3%	20.6%
Energy	6.6%	32.3%
Communication Services	6.6%	3.3%
Consumer Cyclical	5.0%	11.6%
Basic Materials	3.3%	0.7%
Consumer Defensive	2.3%	2.1%
Real Estate	-	3.9%
Utilities	-	2.7%

Return for Risk

KAT vs. TEXN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Scharf ETF (KAT) and iShares Texas Equity ETF (TEXN). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

KAT vs. TEXN - Drawdown Comparison

The maximum KAT drawdown since its inception was -9.25%, which is greater than TEXN's maximum drawdown of -6.34%. Use the drawdown chart below to compare losses from any high point for KAT and TEXN.

Drawdown Indicators

	KAT	TEXN	Difference
Max Drawdown Largest peak-to-trough decline	-9.25%	-6.34%	-2.91%
Current Drawdown Current decline from peak	-7.56%	-3.62%	-3.94%
Average Drawdown Average peak-to-trough decline	-3.33%	-1.23%	-2.10%

Volatility

Volatility by Period

	KAT	TEXN	Difference
Volatility (1Y) Calculated over the trailing 1-year period	10.62%	14.46%	-3.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.62%	14.46%	-3.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.62%	14.46%	-3.84%

KAT vs. TEXN - Expense Ratio Comparison

KAT has a 0.75% expense ratio, which is higher than TEXN's 0.20% expense ratio.

Dividends

KAT vs. TEXN - Dividend Comparison

KAT has not paid dividends to shareholders, while TEXN's dividend yield for the trailing twelve months is around 1.38%.

Position	TTM	2025
KAT Scharf ETF	0.00%	0.00%
TEXN iShares Texas Equity ETF	1.38%	0.86%

Frequently Asked Questions

Can I hold both KAT and TEXN in my portfolio?

KAT and TEXN have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KAT or TEXN?

On fees, TEXN is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KAT or TEXN?

TEXN is cheaper with a 0.20% expense ratio, compared with 0.75% for KAT.

Which ETF pays a higher dividend yield, KAT or TEXN?

TEXN has the higher dividend yield at 1.38%, compared with 0.00% for KAT.

What is the main difference between KAT and TEXN?

They also come from different issuers: Scharf Investments and iShares. Their fees differ too: 0.75% for KAT and 0.20% for TEXN.