NIXT vs. IVOV
NIXT (Research Affiliates Deletions ETF) and IVOV (Vanguard S&P Mid-Cap 400 Value ETF) are both Mid Cap Value Equities funds - NIXT tracks the Research Affiliates Deletions Index while IVOV tracks the S&P MidCap 400 Value Index. Both are passively managed. Over the past year, NIXT returned 33.50% vs 20.80% for IVOV. Their correlation of 0.88 suggests significant overlap in exposure. NIXT charges 0.09%/yr vs 0.10%/yr for IVOV.
Performance
NIXT vs. IVOV - Performance Comparison
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Returns By Period
In the year-to-date period, NIXT achieves a 18.29% return, which is significantly higher than IVOV's 8.98% return.
NIXT
- 1D
- -1.51%
- 1M
- 1.69%
- YTD
- 18.29%
- 6M
- 17.24%
- 1Y
- 33.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVOV
- 1D
- -0.30%
- 1M
- 1.86%
- YTD
- 8.98%
- 6M
- 9.21%
- 1Y
- 20.80%
- 3Y*
- 13.95%
- 5Y*
- 7.51%
- 10Y*
- 10.41%
NIXT vs. IVOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NIXT Research Affiliates Deletions ETF | 18.29% | 4.94% | 4.89% |
IVOV Vanguard S&P Mid-Cap 400 Value ETF | 8.98% | 7.61% | 7.47% |
Correlation
The correlation between NIXT and IVOV is 0.85, 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 | 0.85 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2024 | 0.88 |
The correlation between NIXT and IVOV has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.
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Return for Risk
NIXT vs. IVOV — Risk / Return Rank
NIXT
IVOV
NIXT vs. IVOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Research Affiliates Deletions ETF (NIXT) and Vanguard S&P Mid-Cap 400 Value ETF (IVOV). 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.
| NIXT | IVOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.24 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 1.97 | +0.90 |
| Martin ratioReturn relative to average drawdown | 9.69 | 6.80 | +2.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NIXT | IVOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.59 | 1.37 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.39 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.48 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.58 | +0.14 |
Drawdowns
NIXT vs. IVOV - Drawdown Comparison
The maximum NIXT drawdown since its inception was -27.75%, smaller than the maximum IVOV drawdown of -45.99%. Use the drawdown chart below to compare losses from any high point for NIXT and IVOV.
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Drawdown Indicators
| NIXT | IVOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.75% | -45.99% | +18.24% |
Max Drawdown (1Y)Largest decline over 1 year | -11.71% | -10.58% | -1.13% |
Max Drawdown (3Y)Largest decline over 3 years | — | -22.61% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.61% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.99% | — |
Current DrawdownCurrent decline from peak | -2.37% | -0.31% | -2.06% |
Average DrawdownAverage peak-to-trough decline | -5.96% | -5.43% | -0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.47% | 3.07% | +0.40% |
Volatility
NIXT vs. IVOV - Volatility Comparison
Research Affiliates Deletions ETF (NIXT) has a higher volatility of 5.00% compared to Vanguard S&P Mid-Cap 400 Value ETF (IVOV) at 4.07%. This indicates that NIXT's price experiences larger fluctuations and is considered to be riskier than IVOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NIXT | IVOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.00% | 4.07% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 10.61% | +3.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.24% | 15.27% | +5.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.31% | 19.48% | +3.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.31% | 21.73% | +1.58% |
NIXT vs. IVOV - Expense Ratio Comparison
NIXT has a 0.09% expense ratio, which is lower than IVOV's 0.10% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
NIXT vs. IVOV - Dividend Comparison
NIXT's dividend yield for the trailing twelve months is around 1.35%, less than IVOV's 1.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVOV Vanguard S&P Mid-Cap 400 Value ETF | 1.67% | 1.82% | 1.74% | 1.52% | 1.97% | 1.78% | 2.42% | 1.75% | 1.87% | 1.55% | 1.51% | 1.66% |
NIXT Research Affiliates Deletions ETF | 1.35% | 1.64% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NIXT and IVOV have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NIXT has higher volatility (5.00%) compared to IVOV (4.07%). In terms of maximum drawdown, NIXT dropped -27.75% vs IVOV's -45.99%.
On 1-year performance, NIXT leads with 33.50% vs 20.80% for IVOV. On fees, NIXT is cheaper at 0.09% per year. On volatility, IVOV has been the lower-risk option at 4.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NIXT has performed better with a 33.50% return vs 20.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NIXT is cheaper with a 0.09% expense ratio, compared with 0.10% for IVOV.
IVOV has the higher dividend yield at 1.67%, compared with 1.35% for NIXT.
NIXT tracks Research Affiliates Deletions Index, while IVOV tracks S&P MidCap 400 Value Index. They also come from different issuers: Research Affiliates and Vanguard. Their fees differ too: 0.09% for NIXT and 0.10% for IVOV.
NIXT currently has the higher Sharpe Ratio (1.59 vs 1.37), 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.
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