TDVG vs. NRSH

Last updated Aug 2, 2026

TDVG (T. Rowe Price Dividend Growth ETF) and NRSH (Aztlan North America Nearshoring Stock Selection ETF) are both Large Cap Blend Equities funds. TDVG is actively managed, while NRSH is passively managed. Over the past year, TDVG returned 19.23% vs 47.62% for NRSH. Their 0.65 correlation means they have sometimes moved together and sometimes differently. TDVG charges 0.50%/yr vs 0.75%/yr for NRSH.

Performance

TDVG vs. NRSH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Dividend Growth ETF (TDVG) and Aztlan North America Nearshoring Stock Selection ETF (NRSH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TDVG achieves a 10.93% return, which is significantly lower than NRSH's 33.68% return.

TDVG

• 1D: -0.24%
• 1M: 0.47%
• 6M: 9.09%
• YTD: 10.93%
• 1Y: 19.23%
• 3Y*: 14.55%
• 5Y*: 10.00%
• 10Y*: —
• ALL TIME*: 13.28%

NRSH

• 1D: -0.16%
• 1M: -4.91%
• 6M: 23.70%
• YTD: 33.68%
• 1Y: 47.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.76%

*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)
NRSH Aztlan North America Nearshoring Stock Selection ETF	$195.73K	$103.64K	$72.69K
TDVG T. Rowe Price Dividend Growth ETF	$2.11M	$3.07M	$2.63M

TDVG vs. NRSH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TDVG T. Rowe Price Dividend Growth ETF	10.93%	14.80%	13.45%	4.65%
NRSH Aztlan North America Nearshoring Stock Selection ETF	33.68%	12.95%	-6.17%	9.15%

Correlation

The correlation between TDVG and NRSH is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.59
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023	0.65

The correlation between TDVG and NRSH has been stable across timeframes, ranging from 0.59 to 0.65 - a consistent structural relationship.

TDVG vs. NRSH - Sectors Allocation Comparison

Sectors	TDVG	NRSH
Technology	27.4%	56.1%
Financial Services	19.3%	-
Industrials	14.4%	41.1%
Healthcare	12.8%	-
Consumer Cyclical	6.7%	-
Consumer Defensive	6.6%	-
Energy	4.5%	2.5%
Utilities	3.2%	-
Basic Materials	2.8%	-
Real Estate	1.5%	2.8%
Communication Services	0.8%	-

Return for Risk

TDVG vs. NRSH — Risk / Return Rank

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

TDVG

TDVG Risk / Return Rank: 80
TDVG Sharpe Ratio Rank: 82
TDVG Sortino Ratio Rank: 83
TDVG Omega Ratio Rank: 80
TDVG Calmar Ratio Rank: 73
TDVG Martin Ratio Rank: 81

NRSH

NRSH Risk / Return Rank: 77
NRSH Sharpe Ratio Rank: 75
NRSH Sortino Ratio Rank: 71
NRSH Omega Ratio Rank: 67
NRSH Calmar Ratio Rank: 86
NRSH Martin Ratio Rank: 84

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.

TDVG vs. NRSH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Dividend Growth ETF (TDVG) 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.

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.

	TDVG	NRSH	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.71	+0.16
Sortino ratio: Return per unit of downside risk	2.69	2.32	+0.37
Omega ratio: Gain probability vs. loss probability	1.34	1.28	+0.05
Calmar ratio: Return relative to maximum drawdown	2.51	3.40	-0.88
Martin ratio: Return relative to average drawdown	10.48	11.69	-1.22

TDVG vs. NRSH - Sharpe Ratio Comparison

The current TDVG Sharpe Ratio is 1.87, which is comparable to the NRSH Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of TDVG and NRSH, 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

TDVG vs. NRSH - Drawdown Comparison

The maximum TDVG drawdown since its inception was -19.20%, smaller than the maximum NRSH drawdown of -24.01%. Use the drawdown chart below to compare losses from any high point for TDVG and NRSH.

Drawdown Indicators

	TDVG	NRSH	Difference
Max Drawdown Largest peak-to-trough decline	-19.20%	-24.01%	+4.81%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-13.84%	+6.60%
Max Drawdown (3Y) Largest decline over 3 years	-14.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.20%	—	—
Current Drawdown Current decline from peak	-0.92%	-10.20%	+9.28%
Average Drawdown Average peak-to-trough decline	-3.67%	-5.58%	+1.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	4.01%	-2.28%

Volatility

TDVG vs. NRSH - Volatility Comparison

The current volatility for T. Rowe Price Dividend Growth ETF (TDVG) is 2.20%, while Aztlan North America Nearshoring Stock Selection ETF (NRSH) has a volatility of 9.12%. This indicates that TDVG experiences smaller price fluctuations and is considered to be less risky than NRSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TDVG	NRSH	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.20%	9.12%	-6.92%
Volatility (6M) Calculated over the trailing 6-month period	7.30%	23.16%	-15.86%
Volatility (1Y) Calculated over the trailing 1-year period	9.74%	27.47%	-17.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.87%	22.50%	-8.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.81%	22.50%	-8.69%

TDVG vs. NRSH - Expense Ratio Comparison

TDVG has a 0.50% expense ratio, which is lower than NRSH's 0.75% expense ratio.

Dividends

TDVG vs. NRSH - Dividend Comparison

TDVG's dividend yield for the trailing twelve months is around 0.96%, more than NRSH's 0.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
NRSH Aztlan North America Nearshoring Stock Selection ETF	0.31%	0.42%	0.90%	0.17%	0.00%	0.00%	0.00%
TDVG T. Rowe Price Dividend Growth ETF	0.96%	1.00%	1.06%	1.31%	1.15%	0.80%	0.40%

Frequently Asked Questions

Can I hold both TDVG and NRSH in my portfolio?

TDVG and NRSH have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TDVG or NRSH?

NRSH has higher volatility (9.12%) compared to TDVG (2.20%). In terms of maximum drawdown, TDVG dropped -19.20% vs NRSH's -24.01%.

Which ETF is better, TDVG or NRSH?

On 1-year performance, NRSH leads with 47.62% vs 19.23% for TDVG. On fees, TDVG is cheaper at 0.50% per year. On volatility, TDVG has been the lower-risk option at 2.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TDVG or NRSH?

Over the 1-year period, NRSH has performed better with a 47.62% return vs 19.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TDVG or NRSH?

TDVG is cheaper with a 0.50% expense ratio, compared with 0.75% for NRSH.

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

TDVG has the higher dividend yield at 0.96%, compared with 0.31% for NRSH.

What is the main difference between TDVG and NRSH?

They also come from different issuers: T. Rowe Price and Aztlan. Their fees differ too: 0.50% for TDVG and 0.75% for NRSH.

Which has better risk-adjusted returns?

TDVG currently has the higher Sharpe Ratio (1.87 vs 1.71), 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.