MNZL vs. THLV

Last updated Jun 5, 2026

MNZL (Manzil Russell Halal USA Broad Market ETF) and THLV (THOR Equal Weight Low Volatility ETF) are both Large Cap Blend Equities funds - MNZL tracks the Russell IdealRatings Manzil Halal USA Broad Market Index while THLV tracks the THOR Equal Weight Low Volatility Index. Both are passively managed. A 0.62 correlation means they provide meaningful diversification when combined. MNZL charges 0.40%/yr vs 0.64%/yr for THLV.

Performance

MNZL vs. THLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Manzil Russell Halal USA Broad Market ETF (MNZL) and THOR Equal Weight Low Volatility ETF (THLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MNZL achieves a 18.20% return, which is significantly higher than THLV's 10.12% return.

MNZL

• 1D: -1.04%
• 1M: 8.16%
• YTD: 18.20%
• 6M: 16.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

THLV

• 1D: 0.58%
• 1M: 2.10%
• YTD: 10.12%
• 6M: 10.27%
• 1Y: 19.42%
• 3Y*: 12.88%
• 5Y*: —
• 10Y*: —

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

MNZL vs. THLV - Yearly Performance Comparison

	2026 (YTD)	2025
MNZL Manzil Russell Halal USA Broad Market ETF	18.20%	2.90%
THLV THOR Equal Weight Low Volatility ETF	10.12%	2.53%

Correlation

The correlation between MNZL and THLV 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 20, 2025	0.62

Return for Risk

MNZL vs. THLV — Risk / Return Rank

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

THLV

THLV Risk / Return Rank: 58
THLV Sharpe Ratio Rank: 60
THLV Sortino Ratio Rank: 60
THLV Omega Ratio Rank: 58
THLV Calmar Ratio Rank: 60
THLV Martin Ratio Rank: 52

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.

MNZL vs. THLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Manzil Russell Halal USA Broad Market ETF (MNZL) and THOR Equal Weight Low Volatility ETF (THLV). 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

	MNZL	THLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.98	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.84	0.89	+1.95

Drawdowns

MNZL vs. THLV - Drawdown Comparison

The maximum MNZL drawdown since its inception was -9.66%, smaller than the maximum THLV drawdown of -13.15%. Use the drawdown chart below to compare losses from any high point for MNZL and THLV.

Drawdown Indicators

	MNZL	THLV	Difference
Max Drawdown Largest peak-to-trough decline	-9.66%	-13.15%	+3.49%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.66%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.15%	—
Current Drawdown Current decline from peak	-1.04%	-1.42%	+0.38%
Average Drawdown Average peak-to-trough decline	-1.74%	-3.74%	+2.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.19%	—

Volatility

Volatility by Period

	MNZL	THLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.42%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.49%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.73%	9.84%	+5.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.73%	11.73%	+4.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.73%	11.73%	+4.00%

MNZL vs. THLV - Expense Ratio Comparison

MNZL has a 0.40% expense ratio, which is lower than THLV's 0.64% expense ratio.

Dividends

MNZL vs. THLV - Dividend Comparison

MNZL's dividend yield for the trailing twelve months is around 0.03%, less than THLV's 1.61% yield.

Position	TTM	2025	2024	2023	2022
MNZL Manzil Russell Halal USA Broad Market ETF	0.03%	0.04%	0.00%	0.00%	0.00%
THLV THOR Equal Weight Low Volatility ETF	1.61%	1.77%	1.25%	2.72%	0.62%

Frequently Asked Questions

Can I hold both MNZL and THLV in my portfolio?

MNZL and THLV 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.

Which ETF is better, MNZL or THLV?

On fees, MNZL is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MNZL or THLV?

MNZL is cheaper with a 0.40% expense ratio, compared with 0.64% for THLV.

Which ETF pays a higher dividend yield, MNZL or THLV?

THLV has the higher dividend yield at 1.61%, compared with 0.03% for MNZL.

What is the main difference between MNZL and THLV?

MNZL tracks Russell IdealRatings Manzil Halal USA Broad Market Index, while THLV tracks THOR Equal Weight Low Volatility Index. They also come from different issuers: Manzil and THOR. Their fees differ too: 0.40% for MNZL and 0.64% for THLV.