RULE vs. CNAV

Last updated Aug 2, 2026

RULE (Adaptive Core ETF) and CNAV (Mohr Company Nav ETF) are both exchange-traded funds - RULE is a Diversified Portfolio fund actively managed by Mohr, while CNAV is a Large Cap Blend Equities fund actively managed by Mohr. Both are actively managed. Over the past year, RULE returned 31.15% vs 39.18% for CNAV. Their correlation of 0.89 means they have usually moved in the same direction. RULE charges 1.10%/yr vs 1.31%/yr for CNAV.

Performance

RULE vs. CNAV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Adaptive Core ETF (RULE) and Mohr Company Nav ETF (CNAV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RULE achieves a 28.07% return, which is significantly higher than CNAV's 24.51% return.

RULE

• 1D: 0.68%
• 1M: -6.27%
• 6M: 16.83%
• YTD: 28.07%
• 1Y: 31.15%
• 3Y*: 14.33%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.81%

CNAV

• 1D: 0.63%
• 1M: -10.01%
• 6M: 18.26%
• YTD: 24.51%
• 1Y: 39.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.73%

*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)
CNAV Mohr Company Nav ETF	$249.12K	$293.43K	$339.76K
RULE Adaptive Core ETF	$50.92K	$51.15K	$52.38K

RULE vs. CNAV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RULE Adaptive Core ETF	28.07%	4.60%	0.16%
CNAV Mohr Company Nav ETF	24.51%	16.80%	6.05%

Correlation

The correlation between RULE and CNAV is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	0.89

The correlation between RULE and CNAV has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

RULE vs. CNAV — Risk / Return Rank

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

RULE

RULE Risk / Return Rank: 45
RULE Sharpe Ratio Rank: 44
RULE Sortino Ratio Rank: 43
RULE Omega Ratio Rank: 44
RULE Calmar Ratio Rank: 43
RULE Martin Ratio Rank: 53

CNAV

CNAV Risk / Return Rank: 44
CNAV Sharpe Ratio Rank: 43
CNAV Sortino Ratio Rank: 41
CNAV Omega Ratio Rank: 44
CNAV Calmar Ratio Rank: 40
CNAV Martin Ratio Rank: 53

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.

RULE vs. CNAV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Adaptive Core ETF (RULE) and Mohr Company Nav ETF (CNAV). 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.

	RULE	CNAV	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.06	+0.03
Sortino ratio: Return per unit of downside risk	1.57	1.53	+0.04
Omega ratio: Gain probability vs. loss probability	1.21	1.20	0.00
Calmar ratio: Return relative to maximum drawdown	1.52	1.40	+0.12
Martin ratio: Return relative to average drawdown	6.20	6.25	-0.04

RULE vs. CNAV - Sharpe Ratio Comparison

The current RULE Sharpe Ratio is 1.09, which is comparable to the CNAV Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of RULE and CNAV, 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

RULE vs. CNAV - Drawdown Comparison

The maximum RULE drawdown since its inception was -30.48%, roughly equal to the maximum CNAV drawdown of -30.06%. Use the drawdown chart below to compare losses from any high point for RULE and CNAV.

Drawdown Indicators

	RULE	CNAV	Difference
Max Drawdown Largest peak-to-trough decline	-30.48%	-30.06%	-0.42%
Max Drawdown (1Y) Largest decline over 1 year	-19.49%	-25.80%	+6.31%
Max Drawdown (3Y) Largest decline over 3 years	-20.21%	—	—
Current Drawdown Current decline from peak	-14.67%	-20.15%	+5.48%
Average Drawdown Average peak-to-trough decline	-14.72%	-5.84%	-8.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.76%	5.79%	-1.03%

Volatility

RULE vs. CNAV - Volatility Comparison

The current volatility for Adaptive Core ETF (RULE) is 12.03%, while Mohr Company Nav ETF (CNAV) has a volatility of 15.97%. This indicates that RULE experiences smaller price fluctuations and is considered to be less risky than CNAV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RULE	CNAV	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.03%	15.97%	-3.94%
Volatility (6M) Calculated over the trailing 6-month period	24.87%	31.59%	-6.72%
Volatility (1Y) Calculated over the trailing 1-year period	27.28%	34.30%	-7.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.87%	31.45%	-14.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.87%	31.45%	-14.58%

RULE vs. CNAV - Expense Ratio Comparison

RULE has a 1.10% expense ratio, which is lower than CNAV's 1.31% expense ratio.

Dividends

RULE vs. CNAV - Dividend Comparison

Neither RULE nor CNAV has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
CNAV Mohr Company Nav ETF	0.00%	0.00%	0.00%	0.00%	0.00%
RULE Adaptive Core ETF	0.00%	0.00%	0.00%	2.01%	0.01%

Frequently Asked Questions

Can I hold both RULE and CNAV in my portfolio?

With a correlation of 0.92, RULE and CNAV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, RULE or CNAV?

CNAV has higher volatility (15.97%) compared to RULE (12.03%). In terms of maximum drawdown, RULE dropped -30.48% vs CNAV's -30.06%.

Which ETF is better, RULE or CNAV?

On 1-year performance, CNAV leads with 39.18% vs 31.15% for RULE. On fees, RULE is cheaper at 1.10% per year. On volatility, RULE has been the lower-risk option at 12.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RULE or CNAV?

Over the 1-year period, CNAV has performed better with a 39.18% return vs 31.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RULE or CNAV?

RULE is cheaper with a 1.10% expense ratio, compared with 1.31% for CNAV.

Which ETF pays a higher dividend yield, RULE or CNAV?

RULE and CNAV have nearly identical dividend yields, around 0.00%.

What is the main difference between RULE and CNAV?

RULE is categorized as Diversified Portfolio, while CNAV is Large Cap Blend Equities. Their fees differ too: 1.10% for RULE and 1.31% for CNAV.

Which has better risk-adjusted returns?

RULE currently has the higher Sharpe Ratio (1.08 vs 1.06), 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.