RHRX vs. ELM

Last updated Jun 3, 2026

RHRX (RH Tactical Rotation ETF) and ELM (Elm Market Navigator ETF) are both Tactical Allocation funds. Both are actively managed. Over the past year, RHRX returned 42.26% vs 19.98% for ELM. A 0.77 correlation means they provide meaningful diversification when combined. RHRX charges 1.36%/yr vs 0.24%/yr for ELM.

Performance

RHRX vs. ELM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RH Tactical Rotation ETF (RHRX) and Elm Market Navigator ETF (ELM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RHRX achieves a 21.71% return, which is significantly higher than ELM's 8.18% return.

RHRX

• 1D: 1.22%
• 1M: 6.21%
• YTD: 21.71%
• 6M: 22.05%
• 1Y: 42.26%
• 3Y*: 23.01%
• 5Y*: —
• 10Y*: —

ELM

• 1D: 0.48%
• 1M: 3.11%
• YTD: 8.18%
• 6M: 9.50%
• 1Y: 19.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RHRX vs. ELM - Yearly Performance Comparison

	2026 (YTD)	2025
RHRX RH Tactical Rotation ETF	21.71%	12.60%
ELM Elm Market Navigator ETF	8.18%	11.89%

Correlation

The correlation between RHRX and ELM is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Feb 12, 2025	0.77

The correlation between RHRX and ELM has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.

RHRX vs. ELM - Sectors Allocation Comparison

Sectors	RHRX	ELM
Technology	39.3%	22.0%
Industrials	17.4%	12.6%
Basic Materials	15.8%	5.4%
Consumer Cyclical	6.7%	9.1%
Communication Services	6.3%	6.6%
Financial Services	4.9%	18.3%
Healthcare	3.3%	8.3%
Utilities	3.3%	3.0%
Consumer Defensive	1.5%	5.2%
Energy	0.9%	4.8%
Real Estate	0.6%	4.7%

Return for Risk

RHRX vs. ELM — Risk / Return Rank

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

RHRX

RHRX Risk / Return Rank: 91
RHRX Sharpe Ratio Rank: 91
RHRX Sortino Ratio Rank: 91
RHRX Omega Ratio Rank: 88
RHRX Calmar Ratio Rank: 92
RHRX Martin Ratio Rank: 93

ELM

ELM Risk / Return Rank: 62
ELM Sharpe Ratio Rank: 63
ELM Sortino Ratio Rank: 63
ELM Omega Ratio Rank: 65
ELM Calmar Ratio Rank: 55
ELM Martin Ratio Rank: 63

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.

RHRX vs. ELM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RH Tactical Rotation ETF (RHRX) and Elm Market Navigator ETF (ELM). 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.

	RHRX	ELM	Difference
Sharpe ratio Return per unit of total volatility	3.22	2.15	+1.08
Sortino ratio Return per unit of downside risk	4.33	3.02	+1.31
Omega ratio Gain probability vs. loss probability	1.56	1.40	+0.16
Calmar ratio Return relative to maximum drawdown	6.28	2.77	+3.51
Martin ratio Return relative to average drawdown	24.67	11.50	+13.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RHRX vs. ELM - Sharpe Ratio Comparison

The current RHRX Sharpe Ratio is 3.22, which is higher than the ELM Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of RHRX and ELM, 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

	RHRX	ELM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.22	2.15	+1.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	1.55	-1.01

Drawdowns

RHRX vs. ELM - Drawdown Comparison

The maximum RHRX drawdown since its inception was -25.33%, which is greater than ELM's maximum drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for RHRX and ELM.

Drawdown Indicators

	RHRX	ELM	Difference
Max Drawdown Largest peak-to-trough decline	-25.33%	-9.02%	-16.31%
Max Drawdown (1Y) Largest decline over 1 year	-6.83%	-7.52%	+0.69%
Max Drawdown (3Y) Largest decline over 3 years	-21.90%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.96%	-1.32%	-7.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	1.81%	-0.07%

Volatility

RHRX vs. ELM - Volatility Comparison

RH Tactical Rotation ETF (RHRX) has a higher volatility of 4.51% compared to Elm Market Navigator ETF (ELM) at 2.54%. This indicates that RHRX's price experiences larger fluctuations and is considered to be riskier than ELM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RHRX	ELM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	2.54%	+1.97%
Volatility (6M) Calculated over the trailing 6-month period	9.72%	7.49%	+2.23%
Volatility (1Y) Calculated over the trailing 1-year period	13.18%	9.37%	+3.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.04%	10.27%	+8.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.04%	10.27%	+8.77%

RHRX vs. ELM - Expense Ratio Comparison

RHRX has a 1.36% expense ratio, which is higher than ELM's 0.24% expense ratio.

Dividends

RHRX vs. ELM - Dividend Comparison

RHRX has not paid dividends to shareholders, while ELM's dividend yield for the trailing twelve months is around 2.51%.

Position	TTM	2025
ELM Elm Market Navigator ETF	2.51%	2.71%
RHRX RH Tactical Rotation ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both RHRX and ELM in my portfolio?

RHRX and ELM have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RHRX or ELM?

RHRX has higher volatility (4.51%) compared to ELM (2.54%). In terms of maximum drawdown, RHRX dropped -25.33% vs ELM's -9.02%.

Which ETF is better, RHRX or ELM?

On 1-year performance, RHRX leads with 42.26% vs 19.98% for ELM. On fees, ELM is cheaper at 0.24% per year. On volatility, ELM has been the lower-risk option at 2.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RHRX or ELM?

Over the 1-year period, RHRX has performed better with a 42.26% return vs 19.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RHRX or ELM?

ELM is cheaper with a 0.24% expense ratio, compared with 1.36% for RHRX.

Which ETF pays a higher dividend yield, RHRX or ELM?

ELM has the higher dividend yield at 2.51%, compared with 0.00% for RHRX.

What is the main difference between RHRX and ELM?

They also come from different issuers: Adaptive and Elm. Their fees differ too: 1.36% for RHRX and 0.24% for ELM.

Which has better risk-adjusted returns?

RHRX currently has the higher Sharpe Ratio (3.22 vs 2.15), 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.