TEXX vs. BKGI

Last updated Aug 1, 2026

TEXX (Horizon Kinetics Texas ETF) and BKGI (Bny Mellon Global Infrastructure Income ETF) are both exchange-traded funds - TEXX is a Energy Equities fund actively managed by Horizon Kinetics, while BKGI is a Infrastructure Equities fund actively managed by BNY Mellon. Both are actively managed. Their 0.35 correlation means their historical movements had little consistent relationship. TEXX charges 0.85%/yr vs 0.65%/yr for BKGI.

Performance

TEXX vs. BKGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Kinetics Texas ETF (TEXX) and Bny Mellon Global Infrastructure Income ETF (BKGI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TEXX

• 1D: 0.82%
• 1M: 5.59%
• 6M: 15.40%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

BKGI

• 1D: -0.29%
• 1M: 1.55%
• 6M: 8.99%
• YTD: 14.23%
• 1Y: 20.08%
• 3Y*: 21.24%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.98%

*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)
BKGI Bny Mellon Global Infrastructure Income ETF	$18.95M	$14.99M	$11.61M
TEXX Horizon Kinetics Texas ETF	$18.12K	$29.15K	$28.51K

TEXX vs. BKGI - Yearly Performance Comparison

	2026 (YTD)
TEXX Horizon Kinetics Texas ETF	15.81%
BKGI Bny Mellon Global Infrastructure Income ETF	11.93%

Correlation

The correlation between TEXX and BKGI is 0.35, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.35

Return for Risk

TEXX vs. BKGI — Risk / Return Rank

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

TEXX

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

BKGI

BKGI Risk / Return Rank: 80
BKGI Sharpe Ratio Rank: 79
BKGI Sortino Ratio Rank: 78
BKGI Omega Ratio Rank: 78
BKGI Calmar Ratio Rank: 86
BKGI Martin Ratio Rank: 79

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.

TEXX vs. BKGI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Texas ETF (TEXX) and Bny Mellon Global Infrastructure Income ETF (BKGI). 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.

	TEXX	BKGI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.80	—
Sortino ratio: Return per unit of downside risk	—	2.51	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	3.38	—
Martin ratio: Return relative to average drawdown	—	10.08	—

Drawdowns

TEXX vs. BKGI - Drawdown Comparison

The maximum TEXX drawdown since its inception was -5.86%, smaller than the maximum BKGI drawdown of -14.79%. Use the drawdown chart below to compare losses from any high point for TEXX and BKGI.

Drawdown Indicators

	TEXX	BKGI	Difference
Max Drawdown Largest peak-to-trough decline	-5.86%	-14.79%	+8.93%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.16%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-11.37%	—
Current Drawdown Current decline from peak	-1.11%	-1.78%	+0.67%
Average Drawdown Average peak-to-trough decline	-2.01%	-2.54%	+0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.06%	—

Volatility

Volatility by Period

	TEXX	BKGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.55%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.11%	11.58%	+4.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.11%	13.95%	+2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.11%	13.95%	+2.16%

TEXX vs. BKGI - Expense Ratio Comparison

TEXX has a 0.85% expense ratio, which is higher than BKGI's 0.65% expense ratio.

Dividends

TEXX vs. BKGI - Dividend Comparison

TEXX has not paid dividends to shareholders, while BKGI's dividend yield for the trailing twelve months is around 2.89%.

Position	TTM	2025	2024	2023	2022
BKGI Bny Mellon Global Infrastructure Income ETF	2.89%	2.65%	4.55%	4.55%	0.53%
TEXX Horizon Kinetics Texas ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TEXX and BKGI in my portfolio?

TEXX and BKGI have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TEXX or BKGI?

On fees, BKGI is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TEXX or BKGI?

BKGI is cheaper with a 0.65% expense ratio, compared with 0.85% for TEXX.

Which ETF pays a higher dividend yield, TEXX or BKGI?

BKGI has the higher dividend yield at 2.89%, compared with 0.00% for TEXX.

What is the main difference between TEXX and BKGI?

TEXX is categorized as Energy Equities, while BKGI is Infrastructure Equities. They also come from different issuers: Horizon Kinetics and BNY Mellon. Their fees differ too: 0.85% for TEXX and 0.65% for BKGI.