NIXT vs. RNIN

Last updated Jun 4, 2026

NIXT (Research Affiliates Deletions ETF) and RNIN (Bushido Capital US SMID Cap Equity ETF) are both Mid Cap Value Equities funds. NIXT is passively managed, while RNIN is actively managed. Over the past year, NIXT returned 33.50% vs 28.56% for RNIN. Their correlation of 0.84 suggests significant overlap in exposure. NIXT charges 0.09%/yr vs 0.68%/yr for RNIN.

Performance

NIXT vs. RNIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Research Affiliates Deletions ETF (NIXT) and Bushido Capital US SMID Cap Equity ETF (RNIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NIXT achieves a 18.29% return, which is significantly higher than RNIN's 15.93% return.

NIXT

• 1D: -1.51%
• 1M: 1.69%
• YTD: 18.29%
• 6M: 17.24%
• 1Y: 33.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RNIN

• 1D: -1.25%
• 1M: 1.27%
• YTD: 15.93%
• 6M: 14.64%
• 1Y: 28.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NIXT vs. RNIN - Yearly Performance Comparison

	2026 (YTD)	2025
NIXT Research Affiliates Deletions ETF	18.29%	11.91%
RNIN Bushido Capital US SMID Cap Equity ETF	15.93%	10.27%

Correlation

The correlation between NIXT and RNIN is 0.84, 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	0.84
Correlation (All Time) Calculated using the full available price history since May 16, 2025	0.84

The correlation between NIXT and RNIN has been stable across timeframes, ranging from 0.84 to 0.84 - a consistent structural relationship.

Return for Risk

NIXT vs. RNIN — Risk / Return Rank

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

NIXT

NIXT Risk / Return Rank: 50
NIXT Sharpe Ratio Rank: 45
NIXT Sortino Ratio Rank: 48
NIXT Omega Ratio Rank: 41
NIXT Calmar Ratio Rank: 59
NIXT Martin Ratio Rank: 56

RNIN

RNIN Risk / Return Rank: 70
RNIN Sharpe Ratio Rank: 58
RNIN Sortino Ratio Rank: 61
RNIN Omega Ratio Rank: 56
RNIN Calmar Ratio Rank: 88
RNIN Martin Ratio Rank: 86

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.

NIXT vs. RNIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Research Affiliates Deletions ETF (NIXT) and Bushido Capital US SMID Cap Equity ETF (RNIN). 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	RNIN	Difference
Sharpe ratio Return per unit of total volatility	1.59	1.93	-0.34
Sortino ratio Return per unit of downside risk	2.34	2.82	-0.48
Omega ratio Gain probability vs. loss probability	1.27	1.34	-0.07
Calmar ratio Return relative to maximum drawdown	2.87	5.04	-2.16
Martin ratio Return relative to average drawdown	9.69	17.82	-8.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NIXT vs. RNIN - Sharpe Ratio Comparison

The current NIXT Sharpe Ratio is 1.59, which is comparable to the RNIN Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of NIXT and RNIN, 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

	NIXT	RNIN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	1.93	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	1.78	-1.06

Drawdowns

NIXT vs. RNIN - Drawdown Comparison

The maximum NIXT drawdown since its inception was -27.75%, which is greater than RNIN's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for NIXT and RNIN.

Drawdown Indicators

	NIXT	RNIN	Difference
Max Drawdown Largest peak-to-trough decline	-27.75%	-5.70%	-22.05%
Max Drawdown (1Y) Largest decline over 1 year	-11.71%	-5.70%	-6.01%
Current Drawdown Current decline from peak	-2.37%	-2.55%	+0.18%
Average Drawdown Average peak-to-trough decline	-5.96%	-1.24%	-4.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	1.61%	+1.86%

Volatility

NIXT vs. RNIN - Volatility Comparison

Research Affiliates Deletions ETF (NIXT) and Bushido Capital US SMID Cap Equity ETF (RNIN) have volatilities of 5.00% and 4.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NIXT	RNIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	4.94%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	14.08%	10.50%	+3.58%
Volatility (1Y) Calculated over the trailing 1-year period	21.24%	14.87%	+6.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.31%	14.97%	+8.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.31%	14.97%	+8.34%

NIXT vs. RNIN - Expense Ratio Comparison

NIXT has a 0.09% expense ratio, which is lower than RNIN's 0.68% expense ratio.

Dividends

NIXT vs. RNIN - Dividend Comparison

NIXT's dividend yield for the trailing twelve months is around 1.35%, more than RNIN's 0.76% yield.

Position	TTM	2025	2024
NIXT Research Affiliates Deletions ETF	1.35%	1.64%	1.39%
RNIN Bushido Capital US SMID Cap Equity ETF	0.76%	0.71%	0.00%

Frequently Asked Questions

Can I hold both NIXT and RNIN in my portfolio?

NIXT and RNIN have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NIXT or RNIN?

NIXT has higher volatility (5.00%) compared to RNIN (4.94%). In terms of maximum drawdown, NIXT dropped -27.75% vs RNIN's -5.70%.

Which ETF is better, NIXT or RNIN?

On 1-year performance, NIXT leads with 33.50% vs 28.56% for RNIN. On fees, NIXT is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NIXT or RNIN?

Over the 1-year period, NIXT has performed better with a 33.50% return vs 28.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NIXT or RNIN?

NIXT is cheaper with a 0.09% expense ratio, compared with 0.68% for RNIN.

Which ETF pays a higher dividend yield, NIXT or RNIN?

NIXT has the higher dividend yield at 1.35%, compared with 0.76% for RNIN.

What is the main difference between NIXT and RNIN?

They also come from different issuers: Research Affiliates and Bushido. Their fees differ too: 0.09% for NIXT and 0.68% for RNIN.

Which has better risk-adjusted returns?

RNIN currently has the higher Sharpe Ratio (1.93 vs 1.59), 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.