MDPL vs. NIXT

Last updated Jun 6, 2026

MDPL (Monarch Dividend Plus ETF) and NIXT (Research Affiliates Deletions ETF) are both Mid Cap Value Equities funds - MDPL tracks the Monarch Dividend Plus Index while NIXT tracks the Research Affiliates Deletions Index. Both are passively managed. Over the past year, MDPL returned 4.86% vs 32.52% for NIXT. A 0.66 correlation means they provide meaningful diversification when combined. MDPL charges 1.24%/yr vs 0.09%/yr for NIXT.

Performance

MDPL vs. NIXT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monarch Dividend Plus ETF (MDPL) and Research Affiliates Deletions ETF (NIXT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MDPL achieves a -1.68% return, which is significantly lower than NIXT's 17.51% return.

MDPL

• 1D: -0.15%
• 1M: 0.11%
• YTD: -1.68%
• 6M: -0.85%
• 1Y: 4.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NIXT

• 1D: -1.71%
• 1M: -0.39%
• YTD: 17.51%
• 6M: 16.48%
• 1Y: 32.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MDPL vs. NIXT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MDPL Monarch Dividend Plus ETF	-1.68%	7.57%	-1.53%
NIXT Research Affiliates Deletions ETF	17.51%	4.94%	4.89%

Correlation

The correlation between MDPL and NIXT is 0.65, 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	0.65
Correlation (All Time) Calculated using the full available price history since Sep 11, 2024	0.66

The correlation between MDPL and NIXT has been stable across timeframes, ranging from 0.65 to 0.66 - a consistent structural relationship.

Return for Risk

MDPL vs. NIXT — Risk / Return Rank

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

MDPL

MDPL Risk / Return Rank: 14
MDPL Sharpe Ratio Rank: 14
MDPL Sortino Ratio Rank: 14
MDPL Omega Ratio Rank: 14
MDPL Calmar Ratio Rank: 15
MDPL Martin Ratio Rank: 14

NIXT

NIXT Risk / Return Rank: 51
NIXT Sharpe Ratio Rank: 48
NIXT Sortino Ratio Rank: 49
NIXT Omega Ratio Rank: 43
NIXT Calmar Ratio Rank: 59
NIXT Martin Ratio Rank: 57

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.

MDPL vs. NIXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monarch Dividend Plus ETF (MDPL) and Research Affiliates Deletions ETF (NIXT). 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.

	MDPL	NIXT	Difference
Sharpe ratio: Return per unit of total volatility	0.32	1.54	-1.22
Sortino ratio: Return per unit of downside risk	0.59	2.26	-1.68
Omega ratio: Gain probability vs. loss probability	1.06	1.26	-0.19
Calmar ratio: Return relative to maximum drawdown	0.47	2.79	-2.32
Martin ratio: Return relative to average drawdown	1.01	9.39	-8.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MDPL vs. NIXT - Sharpe Ratio Comparison

The current MDPL Sharpe Ratio is 0.32, which is lower than the NIXT Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of MDPL and NIXT, 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

	MDPL	NIXT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.32	1.54	-1.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.69	-0.51

Drawdowns

MDPL vs. NIXT - Drawdown Comparison

The maximum MDPL drawdown since its inception was -14.21%, smaller than the maximum NIXT drawdown of -27.75%. Use the drawdown chart below to compare losses from any high point for MDPL and NIXT.

Drawdown Indicators

	MDPL	NIXT	Difference
Max Drawdown Largest peak-to-trough decline	-14.21%	-27.75%	+13.54%
Max Drawdown (1Y) Largest decline over 1 year	-10.34%	-11.71%	+1.37%
Current Drawdown Current decline from peak	-6.21%	-3.01%	-3.20%
Average Drawdown Average peak-to-trough decline	-4.38%	-5.94%	+1.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.83%	3.47%	+1.36%

Volatility

MDPL vs. NIXT - Volatility Comparison

The current volatility for Monarch Dividend Plus ETF (MDPL) is 4.59%, while Research Affiliates Deletions ETF (NIXT) has a volatility of 5.32%. This indicates that MDPL experiences smaller price fluctuations and is considered to be less risky than NIXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDPL	NIXT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.59%	5.32%	-0.73%
Volatility (6M) Calculated over the trailing 6-month period	10.97%	14.17%	-3.20%
Volatility (1Y) Calculated over the trailing 1-year period	15.27%	21.26%	-5.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.15%	23.30%	-8.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.15%	23.30%	-8.15%

MDPL vs. NIXT - Expense Ratio Comparison

MDPL has a 1.24% expense ratio, which is higher than NIXT's 0.09% expense ratio.

Dividends

MDPL vs. NIXT - Dividend Comparison

MDPL's dividend yield for the trailing twelve months is around 1.31%, less than NIXT's 1.36% yield.

Position	TTM	2025	2024
MDPL Monarch Dividend Plus ETF	1.31%	1.42%	1.02%
NIXT Research Affiliates Deletions ETF	1.36%	1.64%	1.39%

Frequently Asked Questions

Can I hold both MDPL and NIXT in my portfolio?

MDPL and NIXT have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MDPL or NIXT?

NIXT has higher volatility (5.32%) compared to MDPL (4.59%). In terms of maximum drawdown, MDPL dropped -14.21% vs NIXT's -27.75%.

Which ETF is better, MDPL or NIXT?

On 1-year performance, NIXT leads with 32.52% vs 4.86% for MDPL. On fees, NIXT is cheaper at 0.09% per year. On volatility, MDPL has been the lower-risk option at 4.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MDPL or NIXT?

Over the 1-year period, NIXT has performed better with a 32.52% return vs 4.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MDPL or NIXT?

NIXT is cheaper with a 0.09% expense ratio, compared with 1.24% for MDPL.

Which ETF pays a higher dividend yield, MDPL or NIXT?

NIXT has the higher dividend yield at 1.36%, compared with 1.31% for MDPL.

What is the main difference between MDPL and NIXT?

MDPL tracks Monarch Dividend Plus Index, while NIXT tracks Research Affiliates Deletions Index. They also come from different issuers: Monarch and Research Affiliates. Their fees differ too: 1.24% for MDPL and 0.09% for NIXT.

Which has better risk-adjusted returns?

NIXT currently has the higher Sharpe Ratio (1.54 vs 0.32), 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.