MVPA vs. NXTE

Last updated Jun 26, 2026

MVPA (Miller Value Partners Appreciation ETF) and NXTE (Axs Green Alpha ETF) are both Global Equities funds. Both are actively managed. Over the past year, MVPA returned -2.65% vs 57.38% for NXTE. A 0.63 correlation means they provide meaningful diversification when combined. MVPA charges 0.60%/yr vs 1.00%/yr for NXTE.

Performance

MVPA vs. NXTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Miller Value Partners Appreciation ETF (MVPA) and Axs Green Alpha ETF (NXTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVPA achieves a -0.81% return, which is significantly lower than NXTE's 36.99% return.

MVPA

• 1D: -1.01%
• 1M: 0.21%
• YTD: -0.81%
• 6M: -3.11%
• 1Y: -2.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NXTE

• 1D: 3.00%
• 1M: 5.67%
• YTD: 36.99%
• 6M: 35.15%
• 1Y: 57.38%
• 3Y*: 19.93%
• 5Y*: —
• 10Y*: —

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

MVPA vs. NXTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MVPA Miller Value Partners Appreciation ETF	-0.81%	-2.92%	39.11%
NXTE Axs Green Alpha ETF	36.99%	21.84%	0.23%

Correlation

The correlation between MVPA and NXTE is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jan 31, 2024	0.63

The correlation between MVPA and NXTE has been stable across timeframes, ranging from 0.54 to 0.63 - a consistent structural relationship.

MVPA vs. NXTE - Sectors Allocation Comparison

Sectors	MVPA	NXTE
Consumer Cyclical	32.5%	3.7%
Financial Services	21.7%	1.3%
Industrials	13.9%	15.7%
Energy	11.3%	-
Communication Services	6.6%	1.6%
Technology	5.3%	53.6%
Real Estate	3.9%	10.1%
Healthcare	2.8%	10.0%
Consumer Defensive	2.0%	1.8%
Basic Materials	-	0.5%
Utilities	-	2.1%

Return for Risk

MVPA vs. NXTE — Risk / Return Rank

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

MVPA

MVPA Risk / Return Rank: 8
MVPA Sharpe Ratio Rank: 8
MVPA Sortino Ratio Rank: 7
MVPA Omega Ratio Rank: 7
MVPA Calmar Ratio Rank: 8
MVPA Martin Ratio Rank: 8

NXTE

NXTE Risk / Return Rank: 74
NXTE Sharpe Ratio Rank: 74
NXTE Sortino Ratio Rank: 67
NXTE Omega Ratio Rank: 67
NXTE Calmar Ratio Rank: 86
NXTE Martin Ratio Rank: 77

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.

MVPA vs. NXTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Miller Value Partners Appreciation ETF (MVPA) and Axs Green Alpha ETF (NXTE). 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.

	MVPA	NXTE	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	2.08	-2.22
Sortino ratio: Return per unit of downside risk	-0.07	2.71	-2.78
Omega ratio: Gain probability vs. loss probability	0.99	1.35	-0.36
Calmar ratio: Return relative to maximum drawdown	-0.18	4.22	-4.39
Martin ratio: Return relative to average drawdown	-0.37	12.96	-13.33

MVPA vs. NXTE - Sharpe Ratio Comparison

The current MVPA Sharpe Ratio is -0.14, which is lower than the NXTE Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of MVPA and NXTE, 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

MVPA vs. NXTE - Drawdown Comparison

The maximum MVPA drawdown since its inception was -25.91%, smaller than the maximum NXTE drawdown of -28.64%. Use the drawdown chart below to compare losses from any high point for MVPA and NXTE.

Drawdown Indicators

	MVPA	NXTE	Difference
Max Drawdown Largest peak-to-trough decline	-25.91%	-28.64%	+2.73%
Max Drawdown (1Y) Largest decline over 1 year	-15.15%	-13.68%	-1.47%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.24%	—
Current Drawdown Current decline from peak	-10.73%	-2.92%	-7.81%
Average Drawdown Average peak-to-trough decline	-7.38%	-7.82%	+0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.26%	4.44%	+2.82%

Volatility

MVPA vs. NXTE - Volatility Comparison

The current volatility for Miller Value Partners Appreciation ETF (MVPA) is 5.00%, while Axs Green Alpha ETF (NXTE) has a volatility of 14.47%. This indicates that MVPA experiences smaller price fluctuations and is considered to be less risky than NXTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVPA	NXTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	14.47%	-9.47%
Volatility (6M) Calculated over the trailing 6-month period	14.07%	23.36%	-9.29%
Volatility (1Y) Calculated over the trailing 1-year period	18.66%	27.79%	-9.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.92%	26.72%	-3.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.92%	26.72%	-3.80%

MVPA vs. NXTE - Expense Ratio Comparison

MVPA has a 0.60% expense ratio, which is lower than NXTE's 1.00% expense ratio.

Dividends

MVPA vs. NXTE - Dividend Comparison

MVPA's dividend yield for the trailing twelve months is around 0.56%, more than NXTE's 0.48% yield.

Position	TTM	2025	2024	2023	2022
MVPA Miller Value Partners Appreciation ETF	0.56%	0.56%	0.94%	0.00%	0.00%
NXTE Axs Green Alpha ETF	0.48%	0.36%	0.52%	0.76%	0.13%

Frequently Asked Questions

Can I hold both MVPA and NXTE in my portfolio?

MVPA and NXTE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVPA or NXTE?

NXTE has higher volatility (14.47%) compared to MVPA (5.00%). In terms of maximum drawdown, MVPA dropped -25.91% vs NXTE's -28.64%.

Which ETF is better, MVPA or NXTE?

On 1-year performance, NXTE leads with 57.38% vs -2.65% for MVPA. On fees, MVPA is cheaper at 0.60% per year. On volatility, MVPA has been the lower-risk option at 5.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVPA or NXTE?

Over the 1-year period, NXTE has performed better with a 57.38% return vs -2.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVPA or NXTE?

MVPA is cheaper with a 0.60% expense ratio, compared with 1.00% for NXTE.

Which ETF pays a higher dividend yield, MVPA or NXTE?

MVPA has the higher dividend yield at 0.56%, compared with 0.48% for NXTE.

What is the main difference between MVPA and NXTE?

They also come from different issuers: Miller and AXS. Their fees differ too: 0.60% for MVPA and 1.00% for NXTE.

Which has better risk-adjusted returns?

NXTE currently has the higher Sharpe Ratio (2.08 vs -0.14), 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.