NXTE vs. PPI

Last updated Jun 5, 2026

NXTE (Axs Green Alpha ETF) and PPI (Astoria Real Assets ETF) are both exchange-traded funds - NXTE is a Global Equities fund actively managed by AXS, while PPI is a Global Allocation fund actively managed by AXS. Both are actively managed. Over the past 3 years, NXTE returned 18.45%/yr vs 22.77%/yr for PPI. A 0.70 correlation means they provide meaningful diversification when combined. NXTE charges 1.00%/yr vs 0.58%/yr for PPI.

Performance

NXTE vs. PPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Axs Green Alpha ETF (NXTE) and Astoria Real Assets ETF (PPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NXTE achieves a 35.18% return, which is significantly higher than PPI's 16.96% return.

NXTE

• 1D: -0.69%
• 1M: 14.44%
• YTD: 35.18%
• 6M: 33.52%
• 1Y: 62.19%
• 3Y*: 18.45%
• 5Y*: —
• 10Y*: —

PPI

• 1D: 0.37%
• 1M: -1.96%
• YTD: 16.96%
• 6M: 17.54%
• 1Y: 38.82%
• 3Y*: 22.77%
• 5Y*: —
• 10Y*: —

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

NXTE vs. PPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NXTE Axs Green Alpha ETF	35.18%	21.84%	-3.42%	13.85%	-1.33%
PPI Astoria Real Assets ETF	16.96%	30.05%	6.43%	11.33%	13.66%

Correlation

The correlation between NXTE and PPI is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (All Time) Calculated using the full available price history since Sep 30, 2022	0.70

The correlation between NXTE and PPI has been stable across timeframes, ranging from 0.69 to 0.70 - a consistent structural relationship.

NXTE vs. PPI - Sectors Allocation Comparison

Sectors	NXTE	PPI
Technology	48.5%	0.6%
Industrials	17.6%	31.4%
Healthcare	11.3%	-
Real Estate	10.9%	15.1%
Consumer Cyclical	4.1%	0.6%
Utilities	2.2%	18.7%
Consumer Defensive	2.1%	-
Communication Services	1.9%	-
Financial Services	1.5%	-
Basic Materials	0.5%	10.6%
Energy	-	23.1%

Return for Risk

NXTE vs. PPI — Risk / Return Rank

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

NXTE

NXTE Risk / Return Rank: 78
NXTE Sharpe Ratio Rank: 80
NXTE Sortino Ratio Rank: 76
NXTE Omega Ratio Rank: 70
NXTE Calmar Ratio Rank: 85
NXTE Martin Ratio Rank: 77

PPI

PPI Risk / Return Rank: 79
PPI Sharpe Ratio Rank: 78
PPI Sortino Ratio Rank: 73
PPI Omega Ratio Rank: 75
PPI Calmar Ratio Rank: 87
PPI Martin Ratio Rank: 81

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.

NXTE vs. PPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Axs Green Alpha ETF (NXTE) and Astoria Real Assets ETF (PPI). 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.

	NXTE	PPI	Difference
Sharpe ratio: Return per unit of total volatility	2.55	2.48	+0.07
Sortino ratio: Return per unit of downside risk	3.36	3.23	+0.13
Omega ratio: Gain probability vs. loss probability	1.41	1.44	-0.03
Calmar ratio: Return relative to maximum drawdown	4.57	4.89	-0.32
Martin ratio: Return relative to average drawdown	14.64	15.91	-1.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NXTE vs. PPI - Sharpe Ratio Comparison

The current NXTE Sharpe Ratio is 2.55, which is comparable to the PPI Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of NXTE and PPI, 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

	NXTE	PPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	2.48	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.81	-0.15

Drawdowns

NXTE vs. PPI - Drawdown Comparison

The maximum NXTE drawdown since its inception was -28.64%, which is greater than PPI's maximum drawdown of -24.54%. Use the drawdown chart below to compare losses from any high point for NXTE and PPI.

Drawdown Indicators

	NXTE	PPI	Difference
Max Drawdown Largest peak-to-trough decline	-28.64%	-24.54%	-4.10%
Max Drawdown (1Y) Largest decline over 1 year	-13.68%	-7.98%	-5.70%
Max Drawdown (3Y) Largest decline over 3 years	-27.24%	-20.70%	-6.54%
Current Drawdown Current decline from peak	-1.30%	-2.90%	+1.60%
Average Drawdown Average peak-to-trough decline	-7.87%	-6.49%	-1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.26%	2.45%	+1.81%

Volatility

NXTE vs. PPI - Volatility Comparison

Axs Green Alpha ETF (NXTE) has a higher volatility of 9.29% compared to Astoria Real Assets ETF (PPI) at 4.09%. This indicates that NXTE's price experiences larger fluctuations and is considered to be riskier than PPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NXTE	PPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.29%	4.09%	+5.20%
Volatility (6M) Calculated over the trailing 6-month period	19.31%	12.56%	+6.75%
Volatility (1Y) Calculated over the trailing 1-year period	24.52%	15.72%	+8.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.98%	19.03%	+6.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.98%	19.03%	+6.95%

NXTE vs. PPI - Expense Ratio Comparison

NXTE has a 1.00% expense ratio, which is higher than PPI's 0.58% expense ratio.

Dividends

NXTE vs. PPI - Dividend Comparison

NXTE's dividend yield for the trailing twelve months is around 0.37%, less than PPI's 1.01% yield.

Position	TTM	2025	2024	2023	2022
NXTE Axs Green Alpha ETF	0.37%	0.36%	0.52%	0.76%	0.13%
PPI Astoria Real Assets ETF	1.01%	1.06%	0.60%	2.87%	2.40%

Frequently Asked Questions

Can I hold both NXTE and PPI in my portfolio?

NXTE and PPI have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NXTE or PPI?

NXTE has higher volatility (9.29%) compared to PPI (4.09%). In terms of maximum drawdown, NXTE dropped -28.64% vs PPI's -24.54%.

Which ETF is better, NXTE or PPI?

On 3-year performance, PPI leads with 22.77% vs 18.45% for NXTE. On fees, PPI is cheaper at 0.58% per year. On volatility, PPI has been the lower-risk option at 4.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NXTE or PPI?

Over the 3-year period, PPI has performed better with a 22.77% return vs 18.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NXTE or PPI?

PPI is cheaper with a 0.58% expense ratio, compared with 1.00% for NXTE.

Which ETF pays a higher dividend yield, NXTE or PPI?

PPI has the higher dividend yield at 1.01%, compared with 0.37% for NXTE.

What is the main difference between NXTE and PPI?

NXTE is categorized as Global Equities, while PPI is Global Allocation. Their fees differ too: 1.00% for NXTE and 0.58% for PPI.

Which has better risk-adjusted returns?

NXTE currently has the higher Sharpe Ratio (2.55 vs 2.48), 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.