NRSH vs. FLCC

Last updated Jun 23, 2026

NRSH (Aztlan North America Nearshoring Stock Selection ETF) and FLCC (Federated Hermes MDT Large Cap Core ETF) are both Large Cap Blend Equities funds. NRSH is passively managed, while FLCC is actively managed. Over the past year, NRSH returned 59.62% vs 20.53% for FLCC. A 0.67 correlation means they provide meaningful diversification when combined. NRSH charges 0.75%/yr vs 0.29%/yr for FLCC.

Performance

NRSH vs. FLCC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aztlan North America Nearshoring Stock Selection ETF (NRSH) and Federated Hermes MDT Large Cap Core ETF (FLCC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NRSH achieves a 48.32% return, which is significantly higher than FLCC's 7.28% return.

NRSH

• 1D: 1.71%
• 1M: 9.60%
• YTD: 48.32%
• 6M: 44.73%
• 1Y: 59.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLCC

• 1D: -0.37%
• 1M: -0.31%
• YTD: 7.28%
• 6M: 6.50%
• 1Y: 20.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NRSH vs. FLCC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NRSH Aztlan North America Nearshoring Stock Selection ETF	48.32%	12.95%	-6.09%
FLCC Federated Hermes MDT Large Cap Core ETF	7.28%	16.61%	9.68%

Correlation

The correlation between NRSH and FLCC 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 Jul 31, 2024	0.67

The correlation between NRSH and FLCC has been stable across timeframes, ranging from 0.67 to 0.70 - a consistent structural relationship.

NRSH vs. FLCC - Sectors Allocation Comparison

Sectors	NRSH	FLCC
Industrials	57.9%	8.9%
Technology	36.7%	39.3%
Real Estate	5.4%	1.2%
Energy	2.5%	2.5%
Basic Materials	-	2.0%
Communication Services	-	9.3%
Consumer Cyclical	-	12.4%
Consumer Defensive	-	3.4%
Financial Services	-	10.1%
Healthcare	-	9.6%
Utilities	-	1.4%

Return for Risk

NRSH vs. FLCC — Risk / Return Rank

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

NRSH

NRSH Risk / Return Rank: 76
NRSH Sharpe Ratio Rank: 76
NRSH Sortino Ratio Rank: 67
NRSH Omega Ratio Rank: 65
NRSH Calmar Ratio Rank: 91
NRSH Martin Ratio Rank: 84

FLCC

FLCC Risk / Return Rank: 47
FLCC Sharpe Ratio Rank: 47
FLCC Sortino Ratio Rank: 45
FLCC Omega Ratio Rank: 45
FLCC Calmar Ratio Rank: 46
FLCC Martin Ratio Rank: 52

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.

NRSH vs. FLCC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aztlan North America Nearshoring Stock Selection ETF (NRSH) and Federated Hermes MDT Large Cap Core ETF (FLCC). 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.

	NRSH	FLCC	Difference
Sharpe ratio: Return per unit of total volatility	2.32	1.58	+0.75
Sortino ratio: Return per unit of downside risk	2.97	2.19	+0.79
Omega ratio: Gain probability vs. loss probability	1.38	1.28	+0.10
Calmar ratio: Return relative to maximum drawdown	5.48	2.22	+3.26
Martin ratio: Return relative to average drawdown	16.66	8.72	+7.94

NRSH vs. FLCC - Sharpe Ratio Comparison

The current NRSH Sharpe Ratio is 2.32, which is higher than the FLCC Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of NRSH and FLCC, 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

NRSH vs. FLCC - Drawdown Comparison

The maximum NRSH drawdown since its inception was -24.01%, which is greater than FLCC's maximum drawdown of -19.18%. Use the drawdown chart below to compare losses from any high point for NRSH and FLCC.

Drawdown Indicators

	NRSH	FLCC	Difference
Max Drawdown Largest peak-to-trough decline	-24.01%	-19.18%	-4.83%
Max Drawdown (1Y) Largest decline over 1 year	-10.94%	-9.31%	-1.63%
Current Drawdown Current decline from peak	0.00%	-2.36%	+2.36%
Average Drawdown Average peak-to-trough decline	-5.56%	-2.35%	-3.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.59%	2.36%	+1.23%

Volatility

NRSH vs. FLCC - Volatility Comparison

Aztlan North America Nearshoring Stock Selection ETF (NRSH) has a higher volatility of 9.85% compared to Federated Hermes MDT Large Cap Core ETF (FLCC) at 4.43%. This indicates that NRSH's price experiences larger fluctuations and is considered to be riskier than FLCC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRSH	FLCC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.85%	4.43%	+5.42%
Volatility (6M) Calculated over the trailing 6-month period	21.51%	10.15%	+11.36%
Volatility (1Y) Calculated over the trailing 1-year period	25.85%	13.10%	+12.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.00%	17.39%	+4.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.00%	17.39%	+4.61%

NRSH vs. FLCC - Expense Ratio Comparison

NRSH has a 0.75% expense ratio, which is higher than FLCC's 0.29% expense ratio.

Dividends

NRSH vs. FLCC - Dividend Comparison

NRSH's dividend yield for the trailing twelve months is around 0.28%, less than FLCC's 0.47% yield.

Position	TTM	2025	2024	2023
FLCC Federated Hermes MDT Large Cap Core ETF	0.47%	0.50%	0.20%	0.00%
NRSH Aztlan North America Nearshoring Stock Selection ETF	0.28%	0.42%	0.90%	0.17%

Frequently Asked Questions

Can I hold both NRSH and FLCC in my portfolio?

NRSH and FLCC 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, NRSH or FLCC?

NRSH has higher volatility (9.85%) compared to FLCC (4.43%). In terms of maximum drawdown, NRSH dropped -24.01% vs FLCC's -19.18%.

Which ETF is better, NRSH or FLCC?

On 1-year performance, NRSH leads with 59.62% vs 20.53% for FLCC. On fees, FLCC is cheaper at 0.29% per year. On volatility, FLCC has been the lower-risk option at 4.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NRSH or FLCC?

Over the 1-year period, NRSH has performed better with a 59.62% return vs 20.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NRSH or FLCC?

FLCC is cheaper with a 0.29% expense ratio, compared with 0.75% for NRSH.

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

FLCC has the higher dividend yield at 0.47%, compared with 0.28% for NRSH.

What is the main difference between NRSH and FLCC?

They also come from different issuers: Aztlan and Federated Hermes. Their fees differ too: 0.75% for NRSH and 0.29% for FLCC.

Which has better risk-adjusted returns?

NRSH currently has the higher Sharpe Ratio (2.32 vs 1.58), 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.