MRSK vs. RFLR

Last updated Aug 4, 2026

MRSK (Agility Shares Managed Risk ETF) and RFLR (Innovator U.S. Small Cap Managed Floor ETF) are both Equity Hedged funds. Both are actively managed. Over the past year, MRSK returned 17.03% vs 29.43% for RFLR. Their 0.64 correlation means they have sometimes moved together and sometimes differently. MRSK charges 0.99%/yr vs 0.89%/yr for RFLR.

Performance

MRSK vs. RFLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Agility Shares Managed Risk ETF (MRSK) and Innovator U.S. Small Cap Managed Floor ETF (RFLR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MRSK achieves a 6.64% return, which is significantly lower than RFLR's 15.25% return.

MRSK

• 1D: 0.81%
• 1M: 1.48%
• 6M: 5.13%
• YTD: 6.64%
• 1Y: 17.03%
• 3Y*: 11.11%
• 5Y*: 7.63%
• 10Y*: —
• ALL TIME*: 11.15%

RFLR

• 1D: 1.26%
• 1M: 0.40%
• 6M: 11.12%
• YTD: 15.25%
• 1Y: 29.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.56%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MRSK Agility Shares Managed Risk ETF	$835.57K	$1.53M	$1.06M
RFLR Innovator U.S. Small Cap Managed Floor ETF	$343.89K	$372.96K	$374.09K

MRSK vs. RFLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MRSK Agility Shares Managed Risk ETF	6.64%	11.93%	3.73%
RFLR Innovator U.S. Small Cap Managed Floor ETF	15.25%	11.81%	1.78%

Correlation

The correlation between MRSK and RFLR is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.62
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024	0.64

The correlation between MRSK and RFLR has been stable across timeframes, ranging from 0.62 to 0.64 - a consistent structural relationship.

Return for Risk

MRSK vs. RFLR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MRSK

MRSK Risk / Return Rank: 64
MRSK Sharpe Ratio Rank: 65
MRSK Sortino Ratio Rank: 62
MRSK Omega Ratio Rank: 66
MRSK Calmar Ratio Rank: 59
MRSK Martin Ratio Rank: 67

RFLR

RFLR Risk / Return Rank: 91
RFLR Sharpe Ratio Rank: 89
RFLR Sortino Ratio Rank: 90
RFLR Omega Ratio Rank: 88
RFLR Calmar Ratio Rank: 94
RFLR Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MRSK vs. RFLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Agility Shares Managed Risk ETF (MRSK) and Innovator U.S. Small Cap Managed Floor ETF (RFLR). 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.

	MRSK	RFLR	Difference
Sharpe ratio: Return per unit of total volatility	1.57	2.35	-0.77
Sortino ratio: Return per unit of downside risk	2.19	3.38	-1.19
Omega ratio: Gain probability vs. loss probability	1.29	1.42	-0.13
Calmar ratio: Return relative to maximum drawdown	2.19	5.11	-2.92
Martin ratio: Return relative to average drawdown	8.57	18.48	-9.91

MRSK vs. RFLR - Sharpe Ratio Comparison

The current MRSK Sharpe Ratio is 1.57, which is lower than the RFLR Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of MRSK and RFLR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MRSK vs. RFLR - Drawdown Comparison

The maximum MRSK drawdown since its inception was -14.70%, smaller than the maximum RFLR drawdown of -15.48%. Use the drawdown chart below to compare losses from any high point for MRSK and RFLR.

Drawdown Indicators

	MRSK	RFLR	Difference
Max Drawdown Largest peak-to-trough decline	-14.70%	-15.48%	+0.78%
Max Drawdown (1Y) Largest decline over 1 year	-7.82%	-5.79%	-2.03%
Max Drawdown (3Y) Largest decline over 3 years	-12.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.70%	—	—
Current Drawdown Current decline from peak	0.00%	-0.20%	+0.20%
Average Drawdown Average peak-to-trough decline	-3.51%	-3.56%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	1.60%	+0.39%

Volatility

MRSK vs. RFLR - Volatility Comparison

The current volatility for Agility Shares Managed Risk ETF (MRSK) is 1.93%, while Innovator U.S. Small Cap Managed Floor ETF (RFLR) has a volatility of 3.04%. This indicates that MRSK experiences smaller price fluctuations and is considered to be less risky than RFLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MRSK	RFLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	3.04%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	8.09%	8.97%	-0.88%
Volatility (1Y) Calculated over the trailing 1-year period	10.91%	12.63%	-1.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.78%	12.20%	-0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.80%	12.20%	-0.40%

MRSK vs. RFLR - Expense Ratio Comparison

MRSK has a 0.99% expense ratio, which is higher than RFLR's 0.89% expense ratio.

Dividends

MRSK vs. RFLR - Dividend Comparison

MRSK's dividend yield for the trailing twelve months is around 0.35%, less than RFLR's 0.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
MRSK Agility Shares Managed Risk ETF	0.35%	0.37%	0.44%	0.60%	1.11%	14.20%	4.29%
RFLR Innovator U.S. Small Cap Managed Floor ETF	0.59%	0.67%	0.26%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MRSK and RFLR in my portfolio?

MRSK and RFLR 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 is riskier, MRSK or RFLR?

RFLR has higher volatility (3.04%) compared to MRSK (1.93%). In terms of maximum drawdown, MRSK dropped -14.70% vs RFLR's -15.48%.

Which ETF is better, MRSK or RFLR?

On 1-year performance, RFLR leads with 29.43% vs 17.03% for MRSK. On fees, RFLR is cheaper at 0.89% per year. On volatility, MRSK has been the lower-risk option at 1.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MRSK or RFLR?

Over the 1-year period, RFLR has performed better with a 29.43% return vs 17.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MRSK or RFLR?

RFLR is cheaper with a 0.89% expense ratio, compared with 0.99% for MRSK.

Which ETF pays a higher dividend yield, MRSK or RFLR?

RFLR has the higher dividend yield at 0.59%, compared with 0.35% for MRSK.

What is the main difference between MRSK and RFLR?

They also come from different issuers: Toews and Innovator. Their fees differ too: 0.99% for MRSK and 0.89% for RFLR.

Which has better risk-adjusted returns?

RFLR currently has the higher Sharpe Ratio (2.35 vs 1.57), 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.