NVIR vs. FTSD
NVIR (Horizon Kinetics Energy Remediation ETF) and FTSD (Franklin Short Duration U.S. Government ETF) are both exchange-traded funds - NVIR is a Energy Equities fund actively managed by Horizon, while FTSD is a Mortgage Backed Securities fund actively managed by Franklin Templeton. Both are actively managed. Over the past 3 years, NVIR returned 18.04%/yr vs 4.98%/yr for FTSD. At a correlation of -0.10, they often move in opposite directions. NVIR charges 0.85%/yr vs 0.25%/yr for FTSD.
Performance
NVIR vs. FTSD - Performance Comparison
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Returns By Period
In the year-to-date period, NVIR achieves a 15.99% return, which is significantly higher than FTSD's 0.92% return.
NVIR
- 1D
- -0.24%
- 1M
- -6.60%
- YTD
- 15.99%
- 6M
- 15.77%
- 1Y
- 26.56%
- 3Y*
- 18.04%
- 5Y*
- —
- 10Y*
- —
FTSD
- 1D
- 0.00%
- 1M
- 0.44%
- YTD
- 0.92%
- 6M
- 1.23%
- 1Y
- 4.10%
- 3Y*
- 4.98%
- 5Y*
- 2.57%
- 10Y*
- 2.06%
NVIR vs. FTSD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NVIR Horizon Kinetics Energy Remediation ETF | 15.99% | 9.84% | 17.53% | 5.23% |
FTSD Franklin Short Duration U.S. Government ETF | 0.92% | 5.66% | 5.20% | 4.42% |
Correlation
The correlation between NVIR and FTSD is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2023 | -0.10 |
The correlation between NVIR and FTSD shifts across timeframes, from -0.23 (1 year) to -0.07 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NVIR vs. FTSD — Risk / Return Rank
NVIR
FTSD
NVIR vs. FTSD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Energy Remediation ETF (NVIR) and Franklin Short Duration U.S. Government ETF (FTSD). 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.
| NVIR | FTSD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -2.54 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.63 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 9.13 | -6.19 |
| Martin ratioReturn relative to average drawdown | 9.32 | 35.35 | -26.02 |
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Drawdowns
NVIR vs. FTSD - Drawdown Comparison
The maximum NVIR drawdown since its inception was -22.47%, which is greater than FTSD's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for NVIR and FTSD.
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Drawdown Indicators
| NVIR | FTSD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.47% | -5.32% | -17.15% |
Max Drawdown (1Y)Largest decline over 1 year | -9.09% | -0.45% | -8.64% |
Max Drawdown (3Y)Largest decline over 3 years | -22.47% | -0.93% | -21.54% |
Max Drawdown (5Y)Largest decline over 5 years | — | -4.96% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.32% | — |
Current DrawdownCurrent decline from peak | -7.99% | -0.21% | -7.78% |
Average DrawdownAverage peak-to-trough decline | -4.61% | -0.60% | -4.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.86% | 0.12% | +2.74% |
Volatility
NVIR vs. FTSD - Volatility Comparison
Horizon Kinetics Energy Remediation ETF (NVIR) has a higher volatility of 6.20% compared to Franklin Short Duration U.S. Government ETF (FTSD) at 0.57%. This indicates that NVIR's price experiences larger fluctuations and is considered to be riskier than FTSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVIR | FTSD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.20% | 0.57% | +5.63% |
Volatility (6M)Calculated over the trailing 6-month period | 12.76% | 1.08% | +11.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.63% | 1.35% | +15.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.32% | 1.86% | +17.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.32% | 1.76% | +17.56% |
NVIR vs. FTSD - Expense Ratio Comparison
NVIR has a 0.85% expense ratio, which is higher than FTSD's 0.25% expense ratio.
Dividends
NVIR vs. FTSD - Dividend Comparison
NVIR's dividend yield for the trailing twelve months is around 0.79%, less than FTSD's 4.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTSD Franklin Short Duration U.S. Government ETF | 4.50% | 4.67% | 4.75% | 4.14% | 1.73% | 1.01% | 1.54% | 2.90% | 2.63% | 2.24% | 1.92% | 1.52% |
NVIR Horizon Kinetics Energy Remediation ETF | 0.79% | 0.92% | 1.50% | 1.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NVIR and FTSD have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVIR has higher volatility (6.20%) compared to FTSD (0.57%). In terms of maximum drawdown, NVIR dropped -22.47% vs FTSD's -5.32%.
On 3-year performance, NVIR leads with 18.04% vs 4.98% for FTSD. On fees, FTSD is cheaper at 0.25% per year. On volatility, FTSD has been the lower-risk option at 0.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, NVIR has performed better with a 18.04% return vs 4.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FTSD is cheaper with a 0.25% expense ratio, compared with 0.85% for NVIR.
FTSD has the higher dividend yield at 4.50%, compared with 0.79% for NVIR.
NVIR is categorized as Energy Equities, while FTSD is Mortgage Backed Securities. They also come from different issuers: Horizon and Franklin Templeton. Their fees differ too: 0.85% for NVIR and 0.25% for FTSD.
FTSD currently has the higher Sharpe Ratio (3.04 vs 1.61), 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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