MNZL vs. TEXN
MNZL (Manzil Russell Halal USA Broad Market ETF) and TEXN (iShares Texas Equity ETF) are both Large Cap Blend Equities funds - MNZL tracks the Russell IdealRatings Manzil Halal USA Broad Market Index while TEXN tracks the Russell Texas Equity Index. Both are passively managed. A 0.62 correlation means they provide meaningful diversification when combined. MNZL charges 0.40%/yr vs 0.20%/yr for TEXN.
Performance
MNZL vs. TEXN - Performance Comparison
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Returns By Period
In the year-to-date period, MNZL achieves a 18.55% return, which is significantly lower than TEXN's 20.27% return.
MNZL
- 1D
- -0.06%
- 1M
- 2.37%
- 6M
- 16.46%
- YTD
- 18.55%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TEXN
- 1D
- 0.09%
- 1M
- -1.67%
- 6M
- 16.36%
- YTD
- 20.27%
- 1Y
- 27.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MNZL vs. TEXN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MNZL Manzil Russell Halal USA Broad Market ETF | 18.55% | 3.37% |
TEXN iShares Texas Equity ETF | 20.27% | 1.73% |
Correlation
The correlation between MNZL and TEXN is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025 | 0.62 |
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Return for Risk
MNZL vs. TEXN — Risk / Return Rank
MNZL
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
TEXN
MNZL vs. TEXN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manzil Russell Halal USA Broad Market ETF (MNZL) and iShares Texas Equity ETF (TEXN). 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.
| MNZL | TEXN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.33 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.18 | — |
| Martin ratioReturn relative to average drawdown | — | 12.75 | — |
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Drawdowns
MNZL vs. TEXN - Drawdown Comparison
The maximum MNZL drawdown since its inception was -9.66%, which is greater than TEXN's maximum drawdown of -6.48%. Use the drawdown chart below to compare losses from any high point for MNZL and TEXN.
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Drawdown Indicators
| MNZL | TEXN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.66% | -6.48% | -3.18% |
Max Drawdown (1Y)Largest decline over 1 year | — | -6.48% | — |
Current DrawdownCurrent decline from peak | -1.17% | -4.73% | +3.56% |
Average DrawdownAverage peak-to-trough decline | -1.83% | -1.43% | -0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.12% | — |
Volatility
MNZL vs. TEXN - Volatility Comparison
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Volatility by Period
| MNZL | TEXN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 4.12% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 10.22% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 17.00% | 14.54% | +2.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.00% | 14.51% | +2.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.00% | 14.51% | +2.49% |
MNZL vs. TEXN - Expense Ratio Comparison
MNZL has a 0.40% expense ratio, which is higher than TEXN's 0.20% expense ratio.
Dividends
MNZL vs. TEXN - Dividend Comparison
MNZL's dividend yield for the trailing twelve months is around 0.03%, less than TEXN's 1.40% yield.
| Position | TTM | 2025 |
|---|---|---|
MNZL Manzil Russell Halal USA Broad Market ETF | 0.03% | 0.04% |
TEXN iShares Texas Equity ETF | 1.40% | 0.86% |
Frequently Asked Questions
MNZL and TEXN have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TEXN is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TEXN is cheaper with a 0.20% expense ratio, compared with 0.40% for MNZL.
TEXN has the higher dividend yield at 1.40%, compared with 0.03% for MNZL.
MNZL tracks Russell IdealRatings Manzil Halal USA Broad Market Index, while TEXN tracks Russell Texas Equity Index. They also come from different issuers: Manzil and iShares. Their fees differ too: 0.40% for MNZL and 0.20% for TEXN.
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