TEXN vs. KAT

Last updated Jul 12, 2026

TEXN (iShares Texas Equity ETF) and KAT (Scharf ETF) are both Large Cap Blend Equities funds. TEXN is passively managed, while KAT is actively managed. At a 0.37 correlation, their price movements are largely independent. TEXN charges 0.20%/yr vs 0.75%/yr for KAT.

Performance

TEXN vs. KAT - Performance Comparison

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

Returns By Period

In the year-to-date period, TEXN achieves a 20.27% return, which is significantly higher than KAT's 1.77% return.

TEXN

• 1D: 0.09%
• 1M: -1.67%
• 6M: 16.36%
• YTD: 20.27%
• 1Y: 27.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KAT

• 1D: 0.53%
• 1M: 1.96%
• 6M: -0.75%
• YTD: 1.77%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TEXN vs. KAT - Yearly Performance Comparison

	2026 (YTD)	2025
TEXN iShares Texas Equity ETF	20.27%	3.84%
KAT Scharf ETF	1.77%	0.85%

Correlation

The correlation between TEXN and KAT is 0.37, 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 Aug 25, 2025	0.37

TEXN vs. KAT - Sectors Allocation Comparison

Sectors	TEXN	KAT
Energy	32.3%	6.6%
Technology	20.6%	14.3%
Industrials	16.3%	14.6%
Consumer Cyclical	11.6%	5.0%
Real Estate	3.9%	-
Financial Services	3.9%	25.1%
Communication Services	3.3%	6.6%
Utilities	2.7%	-
Healthcare	2.7%	22.3%
Consumer Defensive	2.1%	2.3%
Basic Materials	0.7%	3.3%

Return for Risk

TEXN vs. KAT — 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: 73
TEXN Sortino Ratio Rank: 74
TEXN Omega Ratio Rank: 70
TEXN Calmar Ratio Rank: 89
TEXN Martin Ratio Rank: 82

KAT

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

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. KAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Texas Equity ETF (TEXN) and Scharf ETF (KAT). 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	KAT	Difference
Sharpe ratio: Return per unit of total volatility	1.87	—	—
Sortino ratio: Return per unit of downside risk	2.64	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	4.18	—	—
Martin ratio: Return relative to average drawdown	12.75	—	—

Drawdowns

TEXN vs. KAT - Drawdown Comparison

The maximum TEXN drawdown since its inception was -6.48%, smaller than the maximum KAT drawdown of -9.25%. Use the drawdown chart below to compare losses from any high point for TEXN and KAT.

Drawdown Indicators

	TEXN	KAT	Difference
Max Drawdown Largest peak-to-trough decline	-6.48%	-9.25%	+2.77%
Max Drawdown (1Y) Largest decline over 1 year	-6.48%	—	—
Current Drawdown Current decline from peak	-4.73%	-3.65%	-1.08%
Average Drawdown Average peak-to-trough decline	-1.43%	-3.46%	+2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	—	—

Volatility

Volatility by Period

	TEXN	KAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.12%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.54%	10.63%	+3.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.51%	10.63%	+3.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.51%	10.63%	+3.88%

TEXN vs. KAT - Expense Ratio Comparison

TEXN has a 0.20% expense ratio, which is lower than KAT's 0.75% expense ratio.

Dividends

TEXN vs. KAT - Dividend Comparison

TEXN's dividend yield for the trailing twelve months is around 1.40%, more than KAT's 0.08% yield.

Position	TTM	2025
KAT Scharf ETF	0.08%	0.00%
TEXN iShares Texas Equity ETF	1.40%	0.86%

Frequently Asked Questions

Can I hold both TEXN and KAT in my portfolio?

TEXN and KAT have a correlation of 0.37, 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 KAT?

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 KAT?

TEXN is cheaper with a 0.20% expense ratio, compared with 0.75% for KAT.

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

TEXN has the higher dividend yield at 1.40%, compared with 0.08% for KAT.

What is the main difference between TEXN and KAT?

They also come from different issuers: iShares and Scharf Investments. Their fees differ too: 0.20% for TEXN and 0.75% for KAT.