NANC vs. NRSH

Last updated Jun 5, 2026

NANC (Unusual Whales Subversive Democratic Trading ETF) and NRSH (Aztlan North America Nearshoring Stock Selection ETF) are both Large Cap Blend Equities funds. NANC is actively managed, while NRSH is passively managed. Over the past year, NANC returned 26.56% vs 58.28% for NRSH. A 0.59 correlation means they provide meaningful diversification when combined. NANC charges 0.72%/yr vs 0.75%/yr for NRSH.

Performance

NANC vs. NRSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Unusual Whales Subversive Democratic Trading ETF (NANC) and Aztlan North America Nearshoring Stock Selection ETF (NRSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NANC achieves a 10.06% return, which is significantly lower than NRSH's 46.91% return.

NANC

• 1D: 0.53%
• 1M: 5.83%
• YTD: 10.06%
• 6M: 9.47%
• 1Y: 26.56%
• 3Y*: 23.86%
• 5Y*: —
• 10Y*: —

NRSH

• 1D: -0.68%
• 1M: 8.69%
• YTD: 46.91%
• 6M: 44.09%
• 1Y: 58.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NANC vs. NRSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NANC Unusual Whales Subversive Democratic Trading ETF	10.06%	18.54%	26.83%	4.80%
NRSH Aztlan North America Nearshoring Stock Selection ETF	46.91%	12.95%	-6.17%	8.65%

Correlation

The correlation between NANC and NRSH is 0.70, 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	0.70
Correlation (All Time) Calculated using the full available price history since Dec 1, 2023	0.59

The correlation between NANC and NRSH shifts across timeframes, from 0.59 (all time) to 0.70 (1 year), reflecting how their relationship changes across market environments.

NANC vs. NRSH - Sectors Allocation Comparison

Sectors	NANC	NRSH
Technology	41.5%	35.5%
Communication Services	15.1%	-
Healthcare	10.5%	-
Consumer Cyclical	9.2%	-
Financial Services	7.7%	-
Consumer Defensive	7.6%	-
Industrials	5.5%	58.7%
Basic Materials	2.2%	-
Utilities	0.6%	-
Energy	-	2.5%
Real Estate	-	5.8%

Return for Risk

NANC vs. NRSH — Risk / Return Rank

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

NANC

NANC Risk / Return Rank: 55
NANC Sharpe Ratio Rank: 60
NANC Sortino Ratio Rank: 59
NANC Omega Ratio Rank: 58
NANC Calmar Ratio Rank: 45
NANC Martin Ratio Rank: 54

NRSH

NRSH Risk / Return Rank: 77
NRSH Sharpe Ratio Rank: 75
NRSH Sortino Ratio Rank: 68
NRSH Omega Ratio Rank: 66
NRSH Calmar Ratio Rank: 89
NRSH Martin Ratio Rank: 84

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.

NANC vs. NRSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unusual Whales Subversive Democratic Trading ETF (NANC) and Aztlan North America Nearshoring Stock Selection ETF (NRSH). 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.

	NANC	NRSH	Difference
Sharpe ratio: Return per unit of total volatility	1.96	2.40	-0.43
Sortino ratio: Return per unit of downside risk	2.72	3.08	-0.37
Omega ratio: Gain probability vs. loss probability	1.35	1.39	-0.05
Calmar ratio: Return relative to maximum drawdown	2.18	5.35	-3.17
Martin ratio: Return relative to average drawdown	9.04	16.71	-7.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NANC vs. NRSH - Sharpe Ratio Comparison

The current NANC Sharpe Ratio is 1.96, which is comparable to the NRSH Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of NANC and NRSH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NANC	NRSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	2.40	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	1.39	1.09	+0.30

Drawdowns

NANC vs. NRSH - Drawdown Comparison

The maximum NANC drawdown since its inception was -20.94%, smaller than the maximum NRSH drawdown of -24.01%. Use the drawdown chart below to compare losses from any high point for NANC and NRSH.

Drawdown Indicators

	NANC	NRSH	Difference
Max Drawdown Largest peak-to-trough decline	-20.94%	-24.01%	+3.07%
Max Drawdown (1Y) Largest decline over 1 year	-12.21%	-10.94%	-1.27%
Max Drawdown (3Y) Largest decline over 3 years	-20.94%	—	—
Current Drawdown Current decline from peak	-0.82%	-0.68%	-0.14%
Average Drawdown Average peak-to-trough decline	-2.67%	-5.61%	+2.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	3.50%	-0.55%

Volatility

NANC vs. NRSH - Volatility Comparison

The current volatility for Unusual Whales Subversive Democratic Trading ETF (NANC) is 3.62%, while Aztlan North America Nearshoring Stock Selection ETF (NRSH) has a volatility of 8.57%. This indicates that NANC experiences smaller price fluctuations and is considered to be less risky than NRSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NANC	NRSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.62%	8.57%	-4.95%
Volatility (6M) Calculated over the trailing 6-month period	10.39%	20.30%	-9.91%
Volatility (1Y) Calculated over the trailing 1-year period	13.59%	24.44%	-10.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.72%	21.53%	-4.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.72%	21.53%	-4.81%

NANC vs. NRSH - Expense Ratio Comparison

NANC has a 0.72% expense ratio, which is lower than NRSH's 0.75% expense ratio.

Dividends

NANC vs. NRSH - Dividend Comparison

NANC's dividend yield for the trailing twelve months is around 0.19%, less than NRSH's 0.28% yield.

Position	TTM	2025	2024	2023
NANC Unusual Whales Subversive Democratic Trading ETF	0.19%	0.21%	0.20%	0.94%
NRSH Aztlan North America Nearshoring Stock Selection ETF	0.28%	0.42%	0.90%	0.17%

Frequently Asked Questions

Can I hold both NANC and NRSH in my portfolio?

NANC and NRSH have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NANC or NRSH?

NRSH has higher volatility (8.57%) compared to NANC (3.62%). In terms of maximum drawdown, NANC dropped -20.94% vs NRSH's -24.01%.

Which ETF is better, NANC or NRSH?

On 1-year performance, NRSH leads with 58.28% vs 26.56% for NANC. On fees, NANC is cheaper at 0.72% per year. On volatility, NANC has been the lower-risk option at 3.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NANC or NRSH?

Over the 1-year period, NRSH has performed better with a 58.28% return vs 26.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NANC or NRSH?

NANC is cheaper with a 0.72% expense ratio, compared with 0.75% for NRSH.

Which ETF pays a higher dividend yield, NANC or NRSH?

NRSH has the higher dividend yield at 0.28%, compared with 0.19% for NANC.

What is the main difference between NANC and NRSH?

They also come from different issuers: Subversive and Aztlan. Their fees differ too: 0.72% for NANC and 0.75% for NRSH.

Which has better risk-adjusted returns?

NRSH currently has the higher Sharpe Ratio (2.40 vs 1.96), 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.