NRSH vs. KAT

Last updated Jun 4, 2026

NRSH (Aztlan North America Nearshoring Stock Selection ETF) and KAT (Scharf ETF) are both Large Cap Blend Equities funds. NRSH is passively managed, while KAT is actively managed. At a 0.44 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

NRSH vs. KAT - Performance Comparison

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

Returns By Period

In the year-to-date period, NRSH achieves a 47.92% return, which is significantly higher than KAT's 0.37% return.

NRSH

• 1D: 0.51%
• 1M: 13.93%
• YTD: 47.92%
• 6M: 46.01%
• 1Y: 58.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KAT

• 1D: -0.74%
• 1M: 0.22%
• YTD: 0.37%
• 6M: 2.21%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NRSH vs. KAT - Yearly Performance Comparison

	2026 (YTD)	2025
NRSH Aztlan North America Nearshoring Stock Selection ETF	47.92%	7.54%
KAT Scharf ETF	0.37%	0.98%

Correlation

The correlation between NRSH and KAT is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 26, 2025	0.44

NRSH vs. KAT - Sectors Allocation Comparison

Sectors	NRSH	KAT
Industrials	58.7%	14.4%
Technology	35.5%	12.5%
Real Estate	5.8%	-
Energy	2.5%	6.2%
Basic Materials	-	4.2%
Communication Services	-	6.3%
Consumer Cyclical	-	5.1%
Consumer Defensive	-	2.1%
Financial Services	-	26.2%
Healthcare	-	22.9%
Utilities	-	-

Return for Risk

NRSH vs. KAT — 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: 74
NRSH Sortino Ratio Rank: 68
NRSH Omega Ratio Rank: 66
NRSH Calmar Ratio Rank: 89
NRSH Martin Ratio Rank: 83

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. KAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aztlan North America Nearshoring Stock Selection ETF (NRSH) and Scharf ETF (KAT). 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.

	NRSH	KAT	Difference
Sharpe ratio: Return per unit of total volatility	2.42	—	—
Sortino ratio: Return per unit of downside risk	3.11	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	5.40	—	—
Martin ratio: Return relative to average drawdown	16.86	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	NRSH	KAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.17	+0.94

Drawdowns

NRSH vs. KAT - Drawdown Comparison

The maximum NRSH drawdown since its inception was -24.01%, which is greater than KAT's maximum drawdown of -9.25%. Use the drawdown chart below to compare losses from any high point for NRSH and KAT.

Drawdown Indicators

	NRSH	KAT	Difference
Max Drawdown Largest peak-to-trough decline	-24.01%	-9.25%	-14.76%
Max Drawdown (1Y) Largest decline over 1 year	-10.94%	—	—
Current Drawdown Current decline from peak	0.00%	-4.98%	+4.98%
Average Drawdown Average peak-to-trough decline	-5.62%	-3.20%	-2.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	—	—

Volatility

Volatility by Period

	NRSH	KAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.21%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.27%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.44%	10.48%	+13.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.54%	10.48%	+11.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.54%	10.48%	+11.06%

NRSH vs. KAT - Expense Ratio Comparison

Both NRSH and KAT have an expense ratio of 0.75%.

Dividends

NRSH vs. KAT - Dividend Comparison

NRSH's dividend yield for the trailing twelve months is around 0.28%, while KAT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
KAT Scharf ETF	0.00%	0.00%	0.00%	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 KAT in my portfolio?

NRSH and KAT have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NRSH or KAT?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NRSH or KAT?

NRSH and KAT have the same expense ratio: 0.75% per year.

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

NRSH has the higher dividend yield at 0.28%, compared with 0.00% for KAT.

What is the main difference between NRSH and KAT?

They also come from different issuers: Aztlan and Scharf Investments.