OMAB vs. PXH

Last updated Jun 25, 2026

OMAB (Grupo Aeroportuario del Centro Norte, S.A.B. de C.V.) is a stock, while PXH (Invesco FTSE RAFI Emerging Markets ETF) is Emerging Markets Equities fund tracking the FTSE RAFI Emerging Markets Index. Over the past 10 years, OMAB returned 13.71%/yr vs 10.41%/yr for PXH. At a 0.43 correlation, their price movements are largely independent.

Performance

OMAB vs. PXH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB) and Invesco FTSE RAFI Emerging Markets ETF (PXH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OMAB achieves a 1.85% return, which is significantly lower than PXH's 9.64% return. Over the past 10 years, OMAB has outperformed PXH with an annualized return of 13.71%, while PXH has yielded a comparatively lower 10.41% annualized return.

OMAB

• 1D: -0.01%
• 1M: 7.34%
• YTD: 1.85%
• 6M: -1.72%
• 1Y: 11.21%
• 3Y*: 14.18%
• 5Y*: 23.16%
• 10Y*: 13.71%

PXH

• 1D: -1.07%
• 1M: -1.59%
• YTD: 9.64%
• 6M: 9.93%
• 1Y: 25.06%
• 3Y*: 19.79%
• 5Y*: 8.36%
• 10Y*: 10.41%

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

OMAB vs. PXH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OMAB Grupo Aeroportuario del Centro Norte, S.A.B. de C.V.	1.85%	66.22%	-13.57%	43.53%	30.18%	7.98%	-13.78%	62.40%	-4.90%	20.53%
PXH Invesco FTSE RAFI Emerging Markets ETF	9.64%	31.44%	12.09%	13.93%	-15.18%	8.31%	-1.91%	16.77%	-8.68%	26.60%

Correlation

The correlation between OMAB and PXH is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Sep 28, 2007	0.43

The correlation between OMAB and PXH shifts across timeframes, from 0.33 (1 year) to 0.43 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

OMAB vs. PXH — Risk / Return Rank

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

OMAB

OMAB Risk / Return Rank: 52
OMAB Sharpe Ratio Rank: 56
OMAB Sortino Ratio Rank: 50
OMAB Omega Ratio Rank: 48
OMAB Calmar Ratio Rank: 53
OMAB Martin Ratio Rank: 54

PXH

PXH Risk / Return Rank: 52
PXH Sharpe Ratio Rank: 51
PXH Sortino Ratio Rank: 48
PXH Omega Ratio Rank: 52
PXH Calmar Ratio Rank: 56
PXH Martin Ratio Rank: 55

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.

OMAB vs. PXH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB) and Invesco FTSE RAFI Emerging Markets ETF (PXH). 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.

	OMAB	PXH	Difference
Sharpe ratio: Return per unit of total volatility	0.37	1.57	-1.21
Sortino ratio: Return per unit of downside risk	0.75	2.15	-1.39
Omega ratio: Gain probability vs. loss probability	1.09	1.29	-0.20
Calmar ratio: Return relative to maximum drawdown	0.42	2.46	-2.04
Martin ratio: Return relative to average drawdown	0.93	8.62	-7.69

OMAB vs. PXH - Sharpe Ratio Comparison

The current OMAB Sharpe Ratio is 0.37, which is lower than the PXH Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of OMAB and PXH, 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

OMAB vs. PXH - Drawdown Comparison

The maximum OMAB drawdown since its inception was -77.75%, which is greater than PXH's maximum drawdown of -63.63%. Use the drawdown chart below to compare losses from any high point for OMAB and PXH.

Drawdown Indicators

	OMAB	PXH	Difference
Max Drawdown Largest peak-to-trough decline	-77.75%	-63.63%	-14.12%
Max Drawdown (1Y) Largest decline over 1 year	-26.87%	-10.24%	-16.63%
Max Drawdown (3Y) Largest decline over 3 years	-41.78%	-17.72%	-24.06%
Max Drawdown (5Y) Largest decline over 5 years	-41.78%	-29.59%	-12.19%
Max Drawdown (10Y) Largest decline over 10 years	-68.88%	-40.42%	-28.46%
Current Drawdown Current decline from peak	-17.93%	-5.92%	-12.01%
Average Drawdown Average peak-to-trough decline	-22.69%	-16.82%	-5.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.10%	2.91%	+9.19%

Volatility

OMAB vs. PXH - Volatility Comparison

Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB) has a higher volatility of 11.39% compared to Invesco FTSE RAFI Emerging Markets ETF (PXH) at 6.86%. This indicates that OMAB's price experiences larger fluctuations and is considered to be riskier than PXH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OMAB	PXH	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.39%	6.86%	+4.53%
Volatility (6M) Calculated over the trailing 6-month period	23.59%	13.49%	+10.10%
Volatility (1Y) Calculated over the trailing 1-year period	30.82%	16.14%	+14.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.97%	17.94%	+18.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.34%	19.96%	+18.38%

Dividends

OMAB vs. PXH - Dividend Comparison

OMAB's dividend yield for the trailing twelve months is around 5.05%, more than PXH's 4.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OMAB Grupo Aeroportuario del Centro Norte, S.A.B. de C.V.	5.05%	4.52%	6.97%	4.80%	10.87%	3.55%	0.00%	2.45%	3.74%	0.40%	3.11%	3.89%
PXH Invesco FTSE RAFI Emerging Markets ETF	4.38%	4.02%	4.43%	4.84%	5.33%	4.69%	2.79%	3.28%	3.30%	2.74%	1.97%	3.44%

Frequently Asked Questions

Can I hold both OMAB and PXH in my portfolio?

OMAB and PXH have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OMAB or PXH?

OMAB has higher volatility (11.39%) compared to PXH (6.86%). In terms of maximum drawdown, OMAB dropped -77.75% vs PXH's -63.63%.

Which has better risk-adjusted returns?

PXH currently has the higher Sharpe Ratio (1.57 vs 0.37), 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.