MIGO vs. NRSH

Last updated Jun 6, 2026

MIGO (MIG Core ETF) and NRSH (Aztlan North America Nearshoring Stock Selection ETF) are both Large Cap Blend Equities funds. MIGO is actively managed, while NRSH is passively managed. Their correlation of 0.83 suggests significant overlap in exposure. MIGO charges 0.45%/yr vs 0.75%/yr for NRSH.

Performance

MIGO vs. NRSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MIG Core ETF (MIGO) and Aztlan North America Nearshoring Stock Selection ETF (NRSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MIGO

• 1D: -4.64%
• 1M: 1.87%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NRSH

• 1D: -4.97%
• 1M: 0.02%
• YTD: 39.61%
• 6M: 36.75%
• 1Y: 51.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MIGO vs. NRSH - Yearly Performance Comparison

	2026 (YTD)
MIGO MIG Core ETF	15.28%
NRSH Aztlan North America Nearshoring Stock Selection ETF	27.59%

Correlation

The correlation between MIGO and NRSH is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 24, 2026	0.83

Return for Risk

MIGO vs. NRSH — Risk / Return Rank

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

NRSH

NRSH Risk / Return Rank: 71
NRSH Sharpe Ratio Rank: 66
NRSH Sortino Ratio Rank: 60
NRSH Omega Ratio Rank: 61
NRSH Calmar Ratio Rank: 87
NRSH Martin Ratio Rank: 79

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.

MIGO vs. NRSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MIG Core ETF (MIGO) and Aztlan North America Nearshoring Stock Selection ETF (NRSH). 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.

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

Sharpe Ratios by Period

	MIGO	NRSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.58	0.96	+1.62

Drawdowns

MIGO vs. NRSH - Drawdown Comparison

The maximum MIGO drawdown since its inception was -13.39%, smaller than the maximum NRSH drawdown of -24.01%. Use the drawdown chart below to compare losses from any high point for MIGO and NRSH.

Drawdown Indicators

	MIGO	NRSH	Difference
Max Drawdown Largest peak-to-trough decline	-13.39%	-24.01%	+10.62%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.94%	—
Current Drawdown Current decline from peak	-6.14%	-5.62%	-0.52%
Average Drawdown Average peak-to-trough decline	-2.84%	-5.61%	+2.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.52%	—

Volatility

Volatility by Period

	MIGO	NRSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.66%	—
Volatility (6M) Calculated over the trailing 6-month period	—	21.00%	—
Volatility (1Y) Calculated over the trailing 1-year period	25.17%	24.97%	+0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.17%	21.75%	+3.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.17%	21.75%	+3.42%

MIGO vs. NRSH - Expense Ratio Comparison

MIGO has a 0.45% expense ratio, which is lower than NRSH's 0.75% expense ratio.

Dividends

MIGO vs. NRSH - Dividend Comparison

MIGO has not paid dividends to shareholders, while NRSH's dividend yield for the trailing twelve months is around 0.30%.

Position	TTM	2025	2024	2023
MIGO MIG Core ETF	0.00%	0.00%	0.00%	0.00%
NRSH Aztlan North America Nearshoring Stock Selection ETF	0.30%	0.42%	0.90%	0.17%

Frequently Asked Questions

Can I hold both MIGO and NRSH in my portfolio?

MIGO and NRSH have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MIGO or NRSH?

On fees, MIGO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MIGO or NRSH?

MIGO is cheaper with a 0.45% expense ratio, compared with 0.75% for NRSH.

Which ETF pays a higher dividend yield, MIGO or NRSH?

NRSH has the higher dividend yield at 0.30%, compared with 0.00% for MIGO.

What is the main difference between MIGO and NRSH?

They also come from different issuers: Exchange Traded Concepts and Aztlan. Their fees differ too: 0.45% for MIGO and 0.75% for NRSH.