TEXN vs. CNAV

Last updated Jun 25, 2026

TEXN (iShares Texas Equity ETF) and CNAV (Mohr Company Nav ETF) are both Large Cap Blend Equities funds. TEXN is passively managed, while CNAV is actively managed. Over the past year, TEXN returned 28.67% vs 68.66% for CNAV. A 0.58 correlation means they provide meaningful diversification when combined. TEXN charges 0.20%/yr vs 1.31%/yr for CNAV.

Performance

TEXN vs. CNAV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Texas Equity ETF (TEXN) 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, TEXN achieves a 18.96% return, which is significantly lower than CNAV's 45.28% return.

TEXN

• 1D: -0.90%
• 1M: -3.17%
• YTD: 18.96%
• 6M: 17.41%
• 1Y: 28.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CNAV

• 1D: -0.60%
• 1M: 9.65%
• YTD: 45.28%
• 6M: 42.61%
• 1Y: 68.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TEXN vs. CNAV - Yearly Performance Comparison

	2026 (YTD)	2025
TEXN iShares Texas Equity ETF	18.96%	8.33%
CNAV Mohr Company Nav ETF	45.28%	17.82%

Correlation

The correlation between TEXN and CNAV is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jun 24, 2025	0.58

The correlation between TEXN and CNAV has been stable across timeframes, ranging from 0.58 to 0.59 - a consistent structural relationship.

Return for Risk

TEXN vs. CNAV — Risk / Return Rank

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

TEXN

TEXN Risk / Return Rank: 77
TEXN Sharpe Ratio Rank: 70
TEXN Sortino Ratio Rank: 71
TEXN Omega Ratio Rank: 67
TEXN Calmar Ratio Rank: 88
TEXN Martin Ratio Rank: 86

CNAV

CNAV Risk / Return Rank: 84
CNAV Sharpe Ratio Rank: 84
CNAV Sortino Ratio Rank: 75
CNAV Omega Ratio Rank: 78
CNAV Calmar Ratio Rank: 92
CNAV Martin Ratio Rank: 93

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.

TEXN vs. CNAV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Texas Equity ETF (TEXN) 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.

	TEXN	CNAV	Difference
Sharpe ratio: Return per unit of total volatility	1.98	2.38	-0.40
Sortino ratio: Return per unit of downside risk	2.79	2.93	-0.14
Omega ratio: Gain probability vs. loss probability	1.35	1.41	-0.06
Calmar ratio: Return relative to maximum drawdown	4.55	5.32	-0.77
Martin ratio: Return relative to average drawdown	15.80	20.82	-5.03

TEXN vs. CNAV - Sharpe Ratio Comparison

The current TEXN Sharpe Ratio is 1.98, which is comparable to the CNAV Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of TEXN 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

TEXN vs. CNAV - Drawdown Comparison

The maximum TEXN drawdown since its inception was -6.34%, smaller than the maximum CNAV drawdown of -30.06%. Use the drawdown chart below to compare losses from any high point for TEXN and CNAV.

Drawdown Indicators

	TEXN	CNAV	Difference
Max Drawdown Largest peak-to-trough decline	-6.34%	-30.06%	+23.72%
Max Drawdown (1Y) Largest decline over 1 year	-6.34%	-12.97%	+6.63%
Current Drawdown Current decline from peak	-5.76%	-6.83%	+1.07%
Average Drawdown Average peak-to-trough decline	-1.26%	-5.39%	+4.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	3.31%	-1.49%

Volatility

TEXN vs. CNAV - Volatility Comparison

The current volatility for iShares Texas Equity ETF (TEXN) is 4.95%, while Mohr Company Nav ETF (CNAV) has a volatility of 16.54%. This indicates that TEXN 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

	TEXN	CNAV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	16.54%	-11.59%
Volatility (6M) Calculated over the trailing 6-month period	10.25%	25.55%	-15.30%
Volatility (1Y) Calculated over the trailing 1-year period	14.51%	28.97%	-14.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.51%	28.99%	-14.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.51%	28.99%	-14.48%

TEXN vs. CNAV - Expense Ratio Comparison

TEXN has a 0.20% expense ratio, which is lower than CNAV's 1.31% expense ratio.

Dividends

TEXN vs. CNAV - Dividend Comparison

TEXN's dividend yield for the trailing twelve months is around 1.42%, while CNAV has not paid dividends to shareholders.

Position	TTM	2025
CNAV Mohr Company Nav ETF	0.00%	0.00%
TEXN iShares Texas Equity ETF	1.42%	0.86%

Frequently Asked Questions

Can I hold both TEXN and CNAV in my portfolio?

TEXN and CNAV 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, TEXN or CNAV?

CNAV has higher volatility (16.54%) compared to TEXN (4.95%). In terms of maximum drawdown, TEXN dropped -6.34% vs CNAV's -30.06%.

Which ETF is better, TEXN or CNAV?

On 1-year performance, CNAV leads with 68.66% vs 28.67% for TEXN. On fees, TEXN is cheaper at 0.20% per year. On volatility, TEXN has been the lower-risk option at 4.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TEXN or CNAV?

Over the 1-year period, CNAV has performed better with a 68.66% return vs 28.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TEXN or CNAV?

TEXN is cheaper with a 0.20% expense ratio, compared with 1.31% for CNAV.

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

TEXN has the higher dividend yield at 1.42%, compared with 0.00% for CNAV.

What is the main difference between TEXN and CNAV?

They also come from different issuers: iShares and Mohr. Their fees differ too: 0.20% for TEXN and 1.31% for CNAV.

Which has better risk-adjusted returns?

CNAV currently has the higher Sharpe Ratio (2.38 vs 1.98), 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.