SPQ vs. NRSH

Last updated Jun 4, 2026

SPQ (Simplify US Equity Plus QIS ETF) and NRSH (Aztlan North America Nearshoring Stock Selection ETF) are both Large Cap Blend Equities funds. SPQ is actively managed, while NRSH is passively managed. At a 0.33 correlation, their price movements are largely independent. SPQ charges 1.00%/yr vs 0.75%/yr for NRSH.

Performance

SPQ vs. NRSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify US Equity Plus QIS ETF (SPQ) and Aztlan North America Nearshoring Stock Selection ETF (NRSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPQ

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

NRSH

• 1D: 0.51%
• 1M: 13.93%
• YTD: 47.92%
• 6M: 46.01%
• 1Y: 58.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPQ vs. NRSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPQ Simplify US Equity Plus QIS ETF	0.00%	-4.67%	20.38%	4.13%
NRSH Aztlan North America Nearshoring Stock Selection ETF	47.92%	12.95%	-6.17%	8.65%

Correlation

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

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 1, 2023	0.33

SPQ vs. NRSH - Sectors Allocation Comparison

Sectors	SPQ	NRSH
Technology	31.7%	35.5%
Financial Services	14.0%	-
Healthcare	10.9%	-
Consumer Cyclical	10.4%	-
Communication Services	9.5%	-
Industrials	7.7%	58.7%
Consumer Defensive	6.2%	-
Energy	3.2%	2.5%
Utilities	2.6%	-
Real Estate	2.3%	5.8%
Basic Materials	1.8%	-

Return for Risk

SPQ vs. NRSH — Risk / Return Rank

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

NRSH

NRSH Risk / Return Rank: 76
NRSH Sharpe Ratio Rank: 74
NRSH Sortino Ratio Rank: 68
NRSH Omega Ratio Rank: 66
NRSH Calmar Ratio Rank: 89
NRSH Martin Ratio Rank: 83

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.

SPQ vs. NRSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity Plus QIS ETF (SPQ) and Aztlan North America Nearshoring Stock Selection ETF (NRSH). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SPQ	NRSH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.11	—

Drawdowns

Drawdown Indicators

	SPQ	NRSH	Difference
Max Drawdown Largest peak-to-trough decline	—	-24.01%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-10.94%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-5.62%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.50%	—

Volatility

Volatility by Period

	SPQ	NRSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.21%	—
Volatility (6M) Calculated over the trailing 6-month period	—	20.27%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	24.44%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	21.54%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	21.54%	—

SPQ vs. NRSH - Expense Ratio Comparison

SPQ has a 1.00% expense ratio, which is higher than NRSH's 0.75% expense ratio.

Dividends

SPQ vs. NRSH - Dividend Comparison

SPQ has not paid dividends to shareholders, while NRSH's dividend yield for the trailing twelve months is around 0.28%.

Position	TTM	2025	2024	2023
NRSH Aztlan North America Nearshoring Stock Selection ETF	0.28%	0.42%	0.90%	0.17%
SPQ Simplify US Equity Plus QIS ETF	0.00%	0.31%	17.17%	1.68%

Frequently Asked Questions

Can I hold both SPQ and NRSH in my portfolio?

SPQ and NRSH 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 ETF is better, SPQ or NRSH?

On fees, NRSH is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPQ or NRSH?

NRSH is cheaper with a 0.75% expense ratio, compared with 1.00% for SPQ.

Which ETF pays a higher dividend yield, SPQ or NRSH?

NRSH has the higher dividend yield at 0.28%, compared with 0.00% for SPQ.

What is the main difference between SPQ and NRSH?

They also come from different issuers: Simplify and Aztlan. Their fees differ too: 1.00% for SPQ and 0.75% for NRSH.