TEXN vs. AFOS

Last updated Jun 4, 2026

TEXN (iShares Texas Equity ETF) and AFOS (ARS Focused Opportunities Strategy ETF) are both Large Cap Blend Equities funds. A 0.56 correlation means they provide meaningful diversification when combined. TEXN charges 0.20%/yr vs 0.45%/yr for AFOS.

Performance

TEXN vs. AFOS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Texas Equity ETF (TEXN) and ARS Focused Opportunities Strategy ETF (AFOS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TEXN achieves a 25.94% return, which is significantly lower than AFOS's 32.04% return.

TEXN

• 1D: -0.24%
• 1M: 5.35%
• YTD: 25.94%
• 6M: 24.41%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AFOS

• 1D: -0.29%
• 1M: 8.94%
• YTD: 32.04%
• 6M: 37.37%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TEXN vs. AFOS - Yearly Performance Comparison

	2026 (YTD)	2025
TEXN iShares Texas Equity ETF	25.94%	8.66%
AFOS ARS Focused Opportunities Strategy ETF	32.04%	36.15%

Correlation

The correlation between TEXN and AFOS is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	0.56

Return for Risk

TEXN vs. AFOS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Texas Equity ETF (TEXN) and ARS Focused Opportunities Strategy ETF (AFOS). 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

	TEXN	AFOS	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.75	4.35	-1.60

Drawdowns

TEXN vs. AFOS - Drawdown Comparison

The maximum TEXN drawdown since its inception was -6.34%, smaller than the maximum AFOS drawdown of -11.52%. Use the drawdown chart below to compare losses from any high point for TEXN and AFOS.

Drawdown Indicators

	TEXN	AFOS	Difference
Max Drawdown Largest peak-to-trough decline	-6.34%	-11.52%	+5.18%
Current Drawdown Current decline from peak	-0.24%	-0.29%	+0.05%
Average Drawdown Average peak-to-trough decline	-1.12%	-1.37%	+0.25%

Volatility

Volatility by Period

	TEXN	AFOS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	14.19%	20.19%	-6.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.19%	20.19%	-6.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.19%	20.19%	-6.00%

TEXN vs. AFOS - Expense Ratio Comparison

TEXN has a 0.20% expense ratio, which is lower than AFOS's 0.45% expense ratio.

Dividends

TEXN vs. AFOS - Dividend Comparison

TEXN's dividend yield for the trailing twelve months is around 1.01%, more than AFOS's 0.22% yield.

Position	TTM	2025
AFOS ARS Focused Opportunities Strategy ETF	0.22%	0.30%
TEXN iShares Texas Equity ETF	1.01%	0.86%

Frequently Asked Questions

Can I hold both TEXN and AFOS in my portfolio?

TEXN and AFOS have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TEXN or AFOS?

On fees, TEXN is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TEXN or AFOS?

TEXN is cheaper with a 0.20% expense ratio, compared with 0.45% for AFOS.

Which ETF pays a higher dividend yield, TEXN or AFOS?

TEXN has the higher dividend yield at 1.01%, compared with 0.22% for AFOS.

What is the main difference between TEXN and AFOS?

They also come from different issuers: iShares and ARS Investment Partners. Their fees differ too: 0.20% for TEXN and 0.45% for AFOS.