OCIO vs. MSMR

Last updated Aug 2, 2026

OCIO (ClearShares OCIO ETF) and MSMR (McElhenny Sheffield Managed Risk ETF) are both Diversified Portfolio funds. Both are actively managed. Over the past 3 years, OCIO returned 11.71%/yr vs 12.53%/yr for MSMR. Their 0.65 correlation means they have sometimes moved together and sometimes differently. OCIO charges 0.61%/yr vs 0.97%/yr for MSMR.

Performance

OCIO vs. MSMR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ClearShares OCIO ETF (OCIO) and McElhenny Sheffield Managed Risk ETF (MSMR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OCIO achieves a 6.90% return, which is significantly higher than MSMR's 0.14% return.

OCIO

• 1D: -0.06%
• 1M: -1.14%
• 6M: 4.87%
• YTD: 6.90%
• 1Y: 15.24%
• 3Y*: 11.71%
• 5Y*: 6.76%
• 10Y*: —
• ALL TIME*: 7.60%

MSMR

• 1D: -1.57%
• 1M: -2.13%
• 6M: -1.62%
• YTD: 0.14%
• 1Y: 11.18%
• 3Y*: 12.53%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.59%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MSMR McElhenny Sheffield Managed Risk ETF	$432.07K	$432.95K	$679.96K
OCIO ClearShares OCIO ETF	$27.53K	$27.13K	$321.99K

OCIO vs. MSMR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
OCIO ClearShares OCIO ETF	6.90%	12.68%	12.76%	12.03%	-12.49%	1.07%
MSMR McElhenny Sheffield Managed Risk ETF	0.14%	17.06%	21.58%	18.77%	-11.88%	-1.25%

Correlation

The correlation between OCIO and MSMR is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (3Y) Balances recent behavior with more history.	0.72
Correlation (All Time) Calculated using the full available price history since Nov 17, 2021	0.65

The correlation between OCIO and MSMR has been stable across timeframes, ranging from 0.65 to 0.72 - a consistent structural relationship.

Return for Risk

OCIO vs. MSMR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OCIO

OCIO Risk / Return Rank: 56
OCIO Sharpe Ratio Rank: 52
OCIO Sortino Ratio Rank: 51
OCIO Omega Ratio Rank: 51
OCIO Calmar Ratio Rank: 58
OCIO Martin Ratio Rank: 66

MSMR

MSMR Risk / Return Rank: 31
MSMR Sharpe Ratio Rank: 30
MSMR Sortino Ratio Rank: 29
MSMR Omega Ratio Rank: 29
MSMR Calmar Ratio Rank: 33
MSMR Martin Ratio Rank: 33

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OCIO vs. MSMR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ClearShares OCIO ETF (OCIO) and McElhenny Sheffield Managed Risk ETF (MSMR). 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.

	OCIO	MSMR	Difference
Sharpe ratio: Return per unit of total volatility	1.27	0.74	+0.53
Sortino ratio: Return per unit of downside risk	1.83	1.11	+0.72
Omega ratio: Gain probability vs. loss probability	1.23	1.14	+0.09
Calmar ratio: Return relative to maximum drawdown	2.06	1.13	+0.93
Martin ratio: Return relative to average drawdown	8.07	3.14	+4.93

OCIO vs. MSMR - Sharpe Ratio Comparison

The current OCIO Sharpe Ratio is 1.27, which is higher than the MSMR Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of OCIO and MSMR, 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

OCIO vs. MSMR - Drawdown Comparison

The maximum OCIO drawdown since its inception was -24.21%, which is greater than MSMR's maximum drawdown of -14.86%. Use the drawdown chart below to compare losses from any high point for OCIO and MSMR.

Drawdown Indicators

	OCIO	MSMR	Difference
Max Drawdown Largest peak-to-trough decline	-24.21%	-14.86%	-9.35%
Max Drawdown (1Y) Largest decline over 1 year	-6.98%	-8.43%	+1.45%
Max Drawdown (3Y) Largest decline over 3 years	-13.32%	-8.84%	-4.48%
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	—	—
Current Drawdown Current decline from peak	-2.82%	-7.76%	+4.94%
Average Drawdown Average peak-to-trough decline	-4.39%	-5.15%	+0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	3.04%	-1.26%

Volatility

OCIO vs. MSMR - Volatility Comparison

ClearShares OCIO ETF (OCIO) and McElhenny Sheffield Managed Risk ETF (MSMR) have volatilities of 3.89% and 3.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OCIO	MSMR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	3.91%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	9.59%	9.50%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	11.33%	12.86%	-1.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.90%	10.36%	+0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.45%	10.36%	+1.09%

OCIO vs. MSMR - Expense Ratio Comparison

OCIO has a 0.61% expense ratio, which is lower than MSMR's 0.97% expense ratio.

Dividends

OCIO vs. MSMR - Dividend Comparison

OCIO's dividend yield for the trailing twelve months is around 9.91%, more than MSMR's 1.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MSMR McElhenny Sheffield Managed Risk ETF	1.86%	1.51%	2.26%	0.81%	0.65%	0.07%	0.00%	0.00%	0.00%	0.00%
OCIO ClearShares OCIO ETF	9.91%	10.27%	1.87%	2.32%	3.21%	2.83%	2.90%	2.22%	0.01%	1.68%

Frequently Asked Questions

Can I hold both OCIO and MSMR in my portfolio?

OCIO and MSMR 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, OCIO or MSMR?

MSMR has higher volatility (3.91%) compared to OCIO (3.89%). In terms of maximum drawdown, OCIO dropped -24.21% vs MSMR's -14.86%.

Which ETF is better, OCIO or MSMR?

On 3-year performance, MSMR leads with 12.53% vs 11.71% for OCIO. On fees, OCIO is cheaper at 0.61% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OCIO or MSMR?

Over the 3-year period, MSMR has performed better with a 12.53% return vs 11.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OCIO or MSMR?

OCIO is cheaper with a 0.61% expense ratio, compared with 0.97% for MSMR.

Which ETF pays a higher dividend yield, OCIO or MSMR?

OCIO has the higher dividend yield at 9.91%, compared with 1.86% for MSMR.

What is the main difference between OCIO and MSMR?

They also come from different issuers: ClearShares and McElhenny Sheffield. Their fees differ too: 0.61% for OCIO and 0.97% for MSMR.

Which has better risk-adjusted returns?

OCIO currently has the higher Sharpe Ratio (1.27 vs 0.74), 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.