NACP vs. XTR

Last updated Jun 24, 2026

NACP (Impact Shares NAACP Minority Empowerment ETF) and XTR (Global X S&P 500 Tail Risk ETF) are both exchange-traded funds - NACP is a Large Cap Growth Equities fund tracking the Morningstar Minority Empowerment Index, while XTR is a Equity Hedged fund tracking the Cboe S&P 500 Tail Risk Index. Both are passively managed. Over the past 3 years, NACP returned 25.74%/yr vs 17.03%/yr for XTR. With a 0.95 correlation, they move nearly in lockstep. NACP charges 0.49%/yr vs 0.25%/yr for XTR.

Performance

NACP vs. XTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Impact Shares NAACP Minority Empowerment ETF (NACP) and Global X S&P 500 Tail Risk ETF (XTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NACP achieves a 20.21% return, which is significantly higher than XTR's 6.30% return.

NACP

• 1D: -2.21%
• 1M: 1.73%
• YTD: 20.21%
• 6M: 17.87%
• 1Y: 39.41%
• 3Y*: 25.74%
• 5Y*: 15.31%
• 10Y*: —

XTR

• 1D: -1.06%
• 1M: -1.03%
• YTD: 6.30%
• 6M: 5.43%
• 1Y: 19.25%
• 3Y*: 17.03%
• 5Y*: —
• 10Y*: —

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

NACP vs. XTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NACP Impact Shares NAACP Minority Empowerment ETF	20.21%	21.38%	23.93%	29.69%	-23.05%	6.78%
XTR Global X S&P 500 Tail Risk ETF	6.30%	13.66%	21.85%	21.16%	-17.67%	4.25%

Correlation

The correlation between NACP and XTR is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 26, 2021	0.95

The correlation between NACP and XTR has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

NACP vs. XTR — Risk / Return Rank

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

NACP

NACP Risk / Return Rank: 84
NACP Sharpe Ratio Rank: 86
NACP Sortino Ratio Rank: 82
NACP Omega Ratio Rank: 82
NACP Calmar Ratio Rank: 83
NACP Martin Ratio Rank: 87

XTR

XTR Risk / Return Rank: 52
XTR Sharpe Ratio Rank: 53
XTR Sortino Ratio Rank: 51
XTR Omega Ratio Rank: 50
XTR Calmar Ratio Rank: 49
XTR Martin Ratio Rank: 57

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.

NACP vs. XTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Impact Shares NAACP Minority Empowerment ETF (NACP) and Global X S&P 500 Tail Risk ETF (XTR). 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.

	NACP	XTR	Difference
Sharpe ratio: Return per unit of total volatility	2.60	1.70	+0.90
Sortino ratio: Return per unit of downside risk	3.39	2.36	+1.03
Omega ratio: Gain probability vs. loss probability	1.45	1.30	+0.15
Calmar ratio: Return relative to maximum drawdown	4.10	2.27	+1.83
Martin ratio: Return relative to average drawdown	17.54	9.38	+8.16

NACP vs. XTR - Sharpe Ratio Comparison

The current NACP Sharpe Ratio is 2.60, which is higher than the XTR Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of NACP and XTR, 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

NACP vs. XTR - Drawdown Comparison

The maximum NACP drawdown since its inception was -30.96%, which is greater than XTR's maximum drawdown of -20.83%. Use the drawdown chart below to compare losses from any high point for NACP and XTR.

Drawdown Indicators

	NACP	XTR	Difference
Max Drawdown Largest peak-to-trough decline	-30.96%	-20.83%	-10.13%
Max Drawdown (1Y) Largest decline over 1 year	-9.65%	-8.51%	-1.14%
Max Drawdown (3Y) Largest decline over 3 years	-19.66%	-14.35%	-5.31%
Max Drawdown (5Y) Largest decline over 5 years	-27.89%	—	—
Current Drawdown Current decline from peak	-2.27%	-2.81%	+0.54%
Average Drawdown Average peak-to-trough decline	-5.72%	-5.90%	+0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	2.06%	+0.19%

Volatility

NACP vs. XTR - Volatility Comparison

Impact Shares NAACP Minority Empowerment ETF (NACP) has a higher volatility of 6.98% compared to Global X S&P 500 Tail Risk ETF (XTR) at 4.66%. This indicates that NACP's price experiences larger fluctuations and is considered to be riskier than XTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NACP	XTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.98%	4.66%	+2.32%
Volatility (6M) Calculated over the trailing 6-month period	12.73%	9.03%	+3.70%
Volatility (1Y) Calculated over the trailing 1-year period	15.25%	11.40%	+3.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.69%	13.85%	+3.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.77%	13.85%	+4.92%

NACP vs. XTR - Expense Ratio Comparison

NACP has a 0.49% expense ratio, which is higher than XTR's 0.25% expense ratio.

Dividends

NACP vs. XTR - Dividend Comparison

NACP's dividend yield for the trailing twelve months is around 0.56%, less than XTR's 16.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
NACP Impact Shares NAACP Minority Empowerment ETF	0.56%	0.62%	2.96%	1.28%	3.48%	3.06%	1.48%	1.22%	0.71%
XTR Global X S&P 500 Tail Risk ETF	16.77%	17.82%	20.89%	1.09%	1.08%	2.32%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NACP and XTR in my portfolio?

With a correlation of 0.91, NACP and XTR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NACP or XTR?

NACP has higher volatility (6.98%) compared to XTR (4.66%). In terms of maximum drawdown, NACP dropped -30.96% vs XTR's -20.83%.

Which ETF is better, NACP or XTR?

On 3-year performance, NACP leads with 25.74% vs 17.03% for XTR. On fees, XTR is cheaper at 0.25% per year. On volatility, XTR has been the lower-risk option at 4.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NACP or XTR?

Over the 3-year period, NACP has performed better with a 25.74% return vs 17.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NACP or XTR?

XTR is cheaper with a 0.25% expense ratio, compared with 0.49% for NACP.

Which ETF pays a higher dividend yield, NACP or XTR?

XTR has the higher dividend yield at 16.77%, compared with 0.56% for NACP.

What is the main difference between NACP and XTR?

NACP is categorized as Large Cap Growth Equities, while XTR is Equity Hedged. NACP tracks Morningstar Minority Empowerment Index, while XTR tracks Cboe S&P 500 Tail Risk Index. They also come from different issuers: Impact Shares and Global X. Their fees differ too: 0.49% for NACP and 0.25% for XTR.

Which has better risk-adjusted returns?

NACP currently has the higher Sharpe Ratio (2.60 vs 1.70), 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.