NMBL vs. ELM

Last updated Jun 24, 2026

NMBL (NovaTide Flexible Allocation ETF) and ELM (Elm Market Navigator ETF) are both exchange-traded funds - NMBL is a Global Allocation fund actively managed by NovaTide, while ELM is a Tactical Allocation fund actively managed by Elm. Both are actively managed. Their correlation of 0.84 suggests significant overlap in exposure. NMBL charges 1.99%/yr vs 0.24%/yr for ELM.

Performance

NMBL vs. ELM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NovaTide Flexible Allocation ETF (NMBL) and Elm Market Navigator ETF (ELM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NMBL achieves a 3.38% return, which is significantly lower than ELM's 6.28% return.

NMBL

• 1D: -1.08%
• 1M: -0.95%
• YTD: 3.38%
• 6M: 2.21%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ELM

• 1D: -1.43%
• 1M: -0.17%
• YTD: 6.28%
• 6M: 6.39%
• 1Y: 17.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NMBL vs. ELM - Yearly Performance Comparison

	2026 (YTD)	2025
NMBL NovaTide Flexible Allocation ETF	3.38%	-0.27%
ELM Elm Market Navigator ETF	6.28%	1.07%

Correlation

The correlation between NMBL and ELM 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 (All Time) Calculated using the full available price history since Oct 31, 2025	0.84

Return for Risk

NMBL vs. ELM — Risk / Return Rank

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

NMBL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

ELM

ELM Risk / Return Rank: 56
ELM Sharpe Ratio Rank: 58
ELM Sortino Ratio Rank: 56
ELM Omega Ratio Rank: 59
ELM Calmar Ratio Rank: 51
ELM 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.

NMBL vs. ELM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NovaTide Flexible Allocation ETF (NMBL) and Elm Market Navigator ETF (ELM). 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.

	NMBL	ELM	Difference
Sharpe ratio: Return per unit of total volatility	—	1.77	—
Sortino ratio: Return per unit of downside risk	—	2.47	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	2.30	—
Martin ratio: Return relative to average drawdown	—	9.37	—

Drawdowns

NMBL vs. ELM - Drawdown Comparison

The maximum NMBL drawdown since its inception was -8.05%, smaller than the maximum ELM drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for NMBL and ELM.

Drawdown Indicators

	NMBL	ELM	Difference
Max Drawdown Largest peak-to-trough decline	-8.05%	-9.02%	+0.97%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.52%	—
Current Drawdown Current decline from peak	-3.93%	-1.76%	-2.17%
Average Drawdown Average peak-to-trough decline	-2.04%	-1.32%	-0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.84%	—

Volatility

Volatility by Period

	NMBL	ELM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.63%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.46%	9.79%	+3.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.46%	10.46%	+3.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.46%	10.46%	+3.00%

NMBL vs. ELM - Expense Ratio Comparison

NMBL has a 1.99% expense ratio, which is higher than ELM's 0.24% expense ratio.

Dividends

NMBL vs. ELM - Dividend Comparison

NMBL's dividend yield for the trailing twelve months is around 0.90%, less than ELM's 2.55% yield.

Position	TTM	2025
ELM Elm Market Navigator ETF	2.55%	2.71%
NMBL NovaTide Flexible Allocation ETF	0.90%	0.93%

Frequently Asked Questions

Can I hold both NMBL and ELM in my portfolio?

NMBL and ELM 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 ETF is better, NMBL or ELM?

On fees, ELM is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NMBL or ELM?

ELM is cheaper with a 0.24% expense ratio, compared with 1.99% for NMBL.

Which ETF pays a higher dividend yield, NMBL or ELM?

ELM has the higher dividend yield at 2.55%, compared with 0.90% for NMBL.

What is the main difference between NMBL and ELM?

NMBL is categorized as Global Allocation, while ELM is Tactical Allocation. They also come from different issuers: NovaTide and Elm. Their fees differ too: 1.99% for NMBL and 0.24% for ELM.