MAKX vs. ARMH

Last updated Jun 4, 2026

MAKX (ProShares S&P Kensho Smart Factories ETF) and ARMH (Arm Holdings PLC ADRhedged ETF) are both Technology Equities funds. MAKX is passively managed, while ARMH is actively managed. At a correlation of -0.20, they often move in opposite directions. MAKX charges 0.58%/yr vs 0.19%/yr for ARMH.

Performance

MAKX vs. ARMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P Kensho Smart Factories ETF (MAKX) and Arm Holdings PLC ADRhedged ETF (ARMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MAKX

• 1D: -1.54%
• 1M: 17.86%
• YTD: 47.39%
• 6M: 42.02%
• 1Y: 82.53%
• 3Y*: 28.32%
• 5Y*: —
• 10Y*: —

ARMH

• 1D: 2.87%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MAKX vs. ARMH - Yearly Performance Comparison

	2026 (YTD)
MAKX ProShares S&P Kensho Smart Factories ETF	3.06%
ARMH Arm Holdings PLC ADRhedged ETF	23.00%

Correlation

The correlation between MAKX and ARMH is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	-0.20

Return for Risk

MAKX vs. ARMH — Risk / Return Rank

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

MAKX

MAKX Risk / Return Rank: 81
MAKX Sharpe Ratio Rank: 86
MAKX Sortino Ratio Rank: 79
MAKX Omega Ratio Rank: 73
MAKX Calmar Ratio Rank: 88
MAKX Martin Ratio Rank: 80

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.

MAKX vs. ARMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P Kensho Smart Factories ETF (MAKX) and Arm Holdings PLC ADRhedged ETF (ARMH). 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.

	MAKX	ARMH	Difference
Sharpe ratio: Return per unit of total volatility	2.87	—	—
Sortino ratio: Return per unit of downside risk	3.54	—	—
Omega ratio: Gain probability vs. loss probability	1.44	—	—
Calmar ratio: Return relative to maximum drawdown	5.17	—	—
Martin ratio: Return relative to average drawdown	15.75	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MAKX	ARMH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.87	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	471,500.14	-471,499.63

Drawdowns

MAKX vs. ARMH - Drawdown Comparison

The maximum MAKX drawdown since its inception was -40.27%, which is greater than ARMH's maximum drawdown of -1.61%. Use the drawdown chart below to compare losses from any high point for MAKX and ARMH.

Drawdown Indicators

	MAKX	ARMH	Difference
Max Drawdown Largest peak-to-trough decline	-40.27%	-1.61%	-38.66%
Max Drawdown (1Y) Largest decline over 1 year	-16.05%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-29.76%	—	—
Current Drawdown Current decline from peak	-1.54%	0.00%	-1.54%
Average Drawdown Average peak-to-trough decline	-16.60%	-0.40%	-16.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.26%	—	—

Volatility

Volatility by Period

	MAKX	ARMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.34%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.93%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	29.03%	113.00%	-83.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.18%	113.00%	-84.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.18%	113.00%	-84.82%

MAKX vs. ARMH - Expense Ratio Comparison

MAKX has a 0.58% expense ratio, which is higher than ARMH's 0.19% expense ratio.

Dividends

MAKX vs. ARMH - Dividend Comparison

MAKX's dividend yield for the trailing twelve months is around 0.10%, while ARMH has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
ARMH Arm Holdings PLC ADRhedged ETF	0.00%	0.00%	0.00%	0.00%	0.00%
MAKX ProShares S&P Kensho Smart Factories ETF	0.10%	0.15%	0.24%	0.52%	0.31%

Frequently Asked Questions

Can I hold both MAKX and ARMH in my portfolio?

MAKX and ARMH have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MAKX or ARMH?

On fees, ARMH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MAKX or ARMH?

ARMH is cheaper with a 0.19% expense ratio, compared with 0.58% for MAKX.

Which ETF pays a higher dividend yield, MAKX or ARMH?

MAKX has the higher dividend yield at 0.10%, compared with 0.00% for ARMH.

What is the main difference between MAKX and ARMH?

They also come from different issuers: ProShares and Precidian. Their fees differ too: 0.58% for MAKX and 0.19% for ARMH.