RWLC vs. ESN

Last updated Aug 2, 2026

RWLC (Rayliant Wilshire NxtGen US Large Cap Equity ETF) and ESN (Essential 40 Stock ETF) are both Large Cap Blend Equities funds - RWLC tracks the S&P 500 while ESN tracks the Essential 40 Stock Index. Both are passively managed. Over the past year, RWLC returned 20.00% vs 27.64% for ESN. Their 0.61 correlation means they have sometimes moved together and sometimes differently. RWLC charges 0.32%/yr vs 0.70%/yr for ESN.

Performance

RWLC vs. ESN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rayliant Wilshire NxtGen US Large Cap Equity ETF (RWLC) and Essential 40 Stock ETF (ESN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RWLC achieves a 13.66% return, which is significantly lower than ESN's 16.65% return.

RWLC

• 1D: 0.44%
• 1M: 1.79%
• 6M: 12.19%
• YTD: 13.66%
• 1Y: 20.00%
• 3Y*: 22.21%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.43%

ESN

• 1D: 0.28%
• 1M: -0.26%
• 6M: 12.11%
• YTD: 16.65%
• 1Y: 27.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.50%

*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)
ESN Essential 40 Stock ETF	$2.17M	$1.60M	$1.63M
RWLC Rayliant Wilshire NxtGen US Large Cap Equity ETF	$304.58K	$332.22K	$297.28K

RWLC vs. ESN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
RWLC Rayliant Wilshire NxtGen US Large Cap Equity ETF	13.66%	20.23%	1.27%
ESN Essential 40 Stock ETF	16.65%	16.52%	-3.53%

Correlation

The correlation between RWLC and ESN is 0.49, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.49
Correlation (All Time) Calculated using the full available price history since Oct 21, 2024	0.61

The correlation between RWLC and ESN shifts across timeframes, from 0.49 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.

Return for Risk

RWLC vs. ESN — Risk / Return Rank

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

RWLC

RWLC Risk / Return Rank: 54
RWLC Sharpe Ratio Rank: 51
RWLC Sortino Ratio Rank: 56
RWLC Omega Ratio Rank: 51
RWLC Calmar Ratio Rank: 55
RWLC Martin Ratio Rank: 59

ESN

ESN Risk / Return Rank: 93
ESN Sharpe Ratio Rank: 94
ESN Sortino Ratio Rank: 93
ESN Omega Ratio Rank: 92
ESN Calmar Ratio Rank: 91
ESN Martin Ratio Rank: 92

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.

RWLC vs. ESN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant Wilshire NxtGen US Large Cap Equity ETF (RWLC) and Essential 40 Stock ETF (ESN). 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.

	RWLC	ESN	Difference
Sharpe ratio: Return per unit of total volatility	1.26	2.65	-1.39
Sortino ratio: Return per unit of downside risk	1.95	3.65	-1.71
Omega ratio: Gain probability vs. loss probability	1.23	1.46	-0.23
Calmar ratio: Return relative to maximum drawdown	1.98	4.12	-2.13
Martin ratio: Return relative to average drawdown	7.14	16.52	-9.38

RWLC vs. ESN - Sharpe Ratio Comparison

The current RWLC Sharpe Ratio is 1.26, which is lower than the ESN Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of RWLC and ESN, 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

RWLC vs. ESN - Drawdown Comparison

The maximum RWLC drawdown since its inception was -21.00%, which is greater than ESN's maximum drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for RWLC and ESN.

Drawdown Indicators

	RWLC	ESN	Difference
Max Drawdown Largest peak-to-trough decline	-21.00%	-13.60%	-7.40%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-6.42%	-2.91%
Max Drawdown (3Y) Largest decline over 3 years	-16.20%	—	—
Current Drawdown Current decline from peak	-0.17%	-0.53%	+0.36%
Average Drawdown Average peak-to-trough decline	-5.29%	-1.81%	-3.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	1.60%	+0.99%

Volatility

RWLC vs. ESN - Volatility Comparison

Rayliant Wilshire NxtGen US Large Cap Equity ETF (RWLC) and Essential 40 Stock ETF (ESN) have volatilities of 2.64% and 2.65%, 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

	RWLC	ESN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	2.65%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	10.01%	7.51%	+2.50%
Volatility (1Y) Calculated over the trailing 1-year period	14.65%	9.98%	+4.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.42%	13.04%	+3.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.42%	13.04%	+3.38%

RWLC vs. ESN - Expense Ratio Comparison

RWLC has a 0.32% expense ratio, which is lower than ESN's 0.70% expense ratio.

Dividends

RWLC vs. ESN - Dividend Comparison

RWLC's dividend yield for the trailing twelve months is around 12.92%, more than ESN's 0.78% yield.

Position	TTM	2025	2024	2023	2022	2021
ESN Essential 40 Stock ETF	0.78%	0.91%	0.76%	0.00%	0.00%	0.00%
RWLC Rayliant Wilshire NxtGen US Large Cap Equity ETF	12.92%	14.69%	0.98%	1.63%	1.39%	0.01%

Frequently Asked Questions

Can I hold both RWLC and ESN in my portfolio?

RWLC and ESN have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWLC or ESN?

ESN has higher volatility (2.65%) compared to RWLC (2.64%). In terms of maximum drawdown, RWLC dropped -21.00% vs ESN's -13.60%.

Which ETF is better, RWLC or ESN?

On 1-year performance, ESN leads with 27.64% vs 20.00% for RWLC. On fees, RWLC is cheaper at 0.32% 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, RWLC or ESN?

Over the 1-year period, ESN has performed better with a 27.64% return vs 20.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWLC or ESN?

RWLC is cheaper with a 0.32% expense ratio, compared with 0.70% for ESN.

Which ETF pays a higher dividend yield, RWLC or ESN?

RWLC has the higher dividend yield at 12.92%, compared with 0.78% for ESN.

What is the main difference between RWLC and ESN?

RWLC tracks S&P 500, while ESN tracks Essential 40 Stock Index. They also come from different issuers: Rayliant and KKM. Their fees differ too: 0.32% for RWLC and 0.70% for ESN.

Which has better risk-adjusted returns?

ESN currently has the higher Sharpe Ratio (2.65 vs 1.26), 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.