KEAT vs. USDX

Last updated Jun 3, 2026

KEAT (Keating Active ETF) and USDX (SGI Enhanced Core ETF) are both exchange-traded funds - KEAT is a Global Allocation fund actively managed by Keating, while USDX is a Intermediate Core Bond fund actively managed by Summit Global Investments. Both are actively managed. Over the past year, KEAT returned 25.85% vs 6.26% for USDX. At a correlation of -0.06, they often move in opposite directions. KEAT charges 0.85%/yr vs 0.98%/yr for USDX.

Performance

KEAT vs. USDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Keating Active ETF (KEAT) and SGI Enhanced Core ETF (USDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KEAT achieves a 9.85% return, which is significantly higher than USDX's 1.99% return.

KEAT

• 1D: 0.47%
• 1M: -1.07%
• YTD: 9.85%
• 6M: 11.35%
• 1Y: 25.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USDX

• 1D: -0.04%
• 1M: 0.13%
• YTD: 1.99%
• 6M: 2.41%
• 1Y: 6.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KEAT vs. USDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KEAT Keating Active ETF	9.85%	22.76%	2.41%
USDX SGI Enhanced Core ETF	1.99%	6.25%	6.55%

Correlation

The correlation between KEAT and USDX is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Mar 28, 2024	-0.06

KEAT vs. USDX - Sectors Allocation Comparison

Sectors	KEAT	USDX
Energy	30.9%	-
Consumer Defensive	22.2%	-
Basic Materials	21.7%	-
Communication Services	15.0%	-
Healthcare	5.3%	-
Industrials	4.3%	-
Financial Services	1.0%	84.7%
Real Estate	0.6%	-
Consumer Cyclical	-	-
Technology	-	-
Utilities	-	-

Return for Risk

KEAT vs. USDX — Risk / Return Rank

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

KEAT

KEAT Risk / Return Rank: 75
KEAT Sharpe Ratio Rank: 77
KEAT Sortino Ratio Rank: 75
KEAT Omega Ratio Rank: 75
KEAT Calmar Ratio Rank: 83
KEAT Martin Ratio Rank: 67

USDX

USDX Risk / Return Rank: 95
USDX Sharpe Ratio Rank: 91
USDX Sortino Ratio Rank: 95
USDX Omega Ratio Rank: 96
USDX Calmar Ratio Rank: 93
USDX Martin Ratio Rank: 97

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.

KEAT vs. USDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Keating Active ETF (KEAT) and SGI Enhanced Core ETF (USDX). 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.

	KEAT	USDX	Difference
Sharpe ratio Return per unit of total volatility	2.54	3.28	-0.74
Sortino ratio Return per unit of downside risk	3.45	5.11	-1.66
Omega ratio Gain probability vs. loss probability	1.46	1.82	-0.37
Calmar ratio Return relative to maximum drawdown	4.48	6.68	-2.20
Martin ratio Return relative to average drawdown	12.50	49.28	-36.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KEAT vs. USDX - Sharpe Ratio Comparison

The current KEAT Sharpe Ratio is 2.54, which is comparable to the USDX Sharpe Ratio of 3.28. The chart below compares the historical Sharpe Ratios of KEAT and USDX, 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

	KEAT	USDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	3.28	-0.74
Sharpe Ratio (All Time) Calculated using the full available price history	1.57	4.03	-2.47

Drawdowns

KEAT vs. USDX - Drawdown Comparison

The maximum KEAT drawdown since its inception was -7.45%, which is greater than USDX's maximum drawdown of -0.94%. Use the drawdown chart below to compare losses from any high point for KEAT and USDX.

Drawdown Indicators

	KEAT	USDX	Difference
Max Drawdown Largest peak-to-trough decline	-7.45%	-0.94%	-6.51%
Max Drawdown (1Y) Largest decline over 1 year	-6.04%	-0.94%	-5.10%
Current Drawdown Current decline from peak	-5.23%	-0.45%	-4.78%
Average Drawdown Average peak-to-trough decline	-1.57%	-0.06%	-1.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	0.13%	+2.03%

Volatility

KEAT vs. USDX - Volatility Comparison

Keating Active ETF (KEAT) has a higher volatility of 2.47% compared to SGI Enhanced Core ETF (USDX) at 1.05%. This indicates that KEAT's price experiences larger fluctuations and is considered to be riskier than USDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KEAT	USDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.47%	1.05%	+1.42%
Volatility (6M) Calculated over the trailing 6-month period	8.28%	1.72%	+6.56%
Volatility (1Y) Calculated over the trailing 1-year period	10.25%	1.91%	+8.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.27%	1.68%	+8.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.27%	1.68%	+8.59%

KEAT vs. USDX - Expense Ratio Comparison

KEAT has a 0.85% expense ratio, which is lower than USDX's 0.98% expense ratio.

Dividends

KEAT vs. USDX - Dividend Comparison

KEAT's dividend yield for the trailing twelve months is around 2.24%, less than USDX's 5.89% yield.

Position	TTM	2025	2024
KEAT Keating Active ETF	2.24%	2.48%	1.72%
USDX SGI Enhanced Core ETF	5.89%	5.88%	4.60%

Frequently Asked Questions

Can I hold both KEAT and USDX in my portfolio?

KEAT and USDX have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KEAT or USDX?

KEAT has higher volatility (2.47%) compared to USDX (1.05%). In terms of maximum drawdown, KEAT dropped -7.45% vs USDX's -0.94%.

Which ETF is better, KEAT or USDX?

On 1-year performance, KEAT leads with 25.85% vs 6.26% for USDX. On fees, KEAT is cheaper at 0.85% per year. On volatility, USDX has been the lower-risk option at 1.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KEAT or USDX?

Over the 1-year period, KEAT has performed better with a 25.85% return vs 6.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KEAT or USDX?

KEAT is cheaper with a 0.85% expense ratio, compared with 0.98% for USDX.

Which ETF pays a higher dividend yield, KEAT or USDX?

USDX has the higher dividend yield at 5.89%, compared with 2.24% for KEAT.

What is the main difference between KEAT and USDX?

KEAT is categorized as Global Allocation, while USDX is Intermediate Core Bond. They also come from different issuers: Keating and Summit Global Investments. Their fees differ too: 0.85% for KEAT and 0.98% for USDX.

Which has better risk-adjusted returns?

USDX currently has the higher Sharpe Ratio (3.28 vs 2.54), 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.