MMKT vs. DBAW
MMKT (Texas Capital Government Money Market ETF) and DBAW (Xtrackers MSCI All World ex US Hedged Equity ETF) are both exchange-traded funds - MMKT is a Money Market fund actively managed by Texas Capital, while DBAW is a Foreign Large Cap Equities fund tracking the MSCI ACWI ex USA US Dollar Hedged Index. MMKT is actively managed, while DBAW is passively managed. Over the past year, MMKT returned 3.78% vs 35.60% for DBAW. At a correlation of -0.03, they often move in opposite directions. MMKT charges 0.20%/yr vs 0.41%/yr for DBAW.
Performance
MMKT vs. DBAW - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MMKT achieves a 1.64% return, which is significantly lower than DBAW's 16.14% return.
MMKT
- 1D
- 0.02%
- 1M
- 0.27%
- YTD
- 1.64%
- 6M
- 1.74%
- 1Y
- 3.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DBAW
- 1D
- -2.70%
- 1M
- 2.62%
- YTD
- 16.14%
- 6M
- 16.41%
- 1Y
- 35.60%
- 3Y*
- 21.48%
- 5Y*
- 11.25%
- 10Y*
- 11.99%
MMKT vs. DBAW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MMKT Texas Capital Government Money Market ETF | 1.64% | 4.13% | 1.22% |
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF | 16.14% | 26.47% | -0.46% |
Correlation
The correlation between MMKT and DBAW is -0.17, 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 (1Y) Calculated over the trailing 1-year period | -0.17 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024 | -0.03 |
The correlation between MMKT and DBAW shifts across timeframes, from -0.17 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MMKT vs. DBAW — Risk / Return Rank
MMKT
DBAW
MMKT vs. DBAW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Texas Capital Government Money Market ETF (MMKT) and Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW). 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.
| MMKT | DBAW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +14.20 | ||
| Sortino ratioReturn per unit of downside risk | +59.30 | ||
| Omega ratioGain probability vs. loss probability | 15.48 | 1.49 | +13.99 |
| Calmar ratioReturn relative to maximum drawdown | 152.14 | 3.98 | +148.16 |
| Martin ratioReturn relative to average drawdown | 912.59 | 16.14 | +896.45 |
Loading charts...
Drawdowns
MMKT vs. DBAW - Drawdown Comparison
The maximum MMKT drawdown since its inception was -0.04%, smaller than the maximum DBAW drawdown of -31.44%. Use the drawdown chart below to compare losses from any high point for MMKT and DBAW.
Loading charts...
Drawdown Indicators
| MMKT | DBAW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.04% | -31.44% | +31.40% |
Max Drawdown (1Y)Largest decline over 1 year | -0.02% | -9.00% | +8.98% |
Max Drawdown (3Y)Largest decline over 3 years | — | -14.11% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.87% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.44% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.70% | +2.70% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -4.98% | +4.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.00% | 2.21% | -2.21% |
Volatility
MMKT vs. DBAW - Volatility Comparison
The current volatility for Texas Capital Government Money Market ETF (MMKT) is 0.05%, while Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) has a volatility of 6.39%. This indicates that MMKT experiences smaller price fluctuations and is considered to be less risky than DBAW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MMKT | DBAW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.05% | 6.39% | -6.34% |
Volatility (6M)Calculated over the trailing 6-month period | 0.13% | 12.35% | -12.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.23% | 14.01% | -13.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.23% | 13.97% | -13.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.23% | 15.21% | -14.98% |
MMKT vs. DBAW - Expense Ratio Comparison
MMKT has a 0.20% expense ratio, which is lower than DBAW's 0.41% expense ratio.
Dividends
MMKT vs. DBAW - Dividend Comparison
MMKT's dividend yield for the trailing twelve months is around 3.71%, more than DBAW's 1.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF | 1.69% | 3.83% | 1.70% | 3.45% | 8.81% | 2.05% | 2.08% | 2.91% | 2.93% | 2.41% | 1.99% | 5.74% |
MMKT Texas Capital Government Money Market ETF | 3.71% | 3.98% | 1.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MMKT and DBAW have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBAW has higher volatility (6.39%) compared to MMKT (0.05%). In terms of maximum drawdown, MMKT dropped -0.04% vs DBAW's -31.44%.
On 1-year performance, DBAW leads with 35.60% vs 3.78% for MMKT. On fees, MMKT is cheaper at 0.20% per year. On volatility, MMKT has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DBAW has performed better with a 35.60% return vs 3.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MMKT is cheaper with a 0.20% expense ratio, compared with 0.41% for DBAW.
MMKT has the higher dividend yield at 3.71%, compared with 1.69% for DBAW.
MMKT is categorized as Money Market, while DBAW is Foreign Large Cap Equities. They also come from different issuers: Texas Capital and Deutsche Bank. Their fees differ too: 0.20% for MMKT and 0.41% for DBAW.
MMKT currently has the higher Sharpe Ratio (16.75 vs 2.55), 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.
Find the right allocation for MMKT and DBAW
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer