TEXX vs. DVXE

Last updated Aug 1, 2026

TEXX (Horizon Kinetics Texas ETF) and DVXE (WEBs Energy XLE Defined Volatility ETF) are both Energy Equities funds. TEXX is actively managed, while DVXE is passively managed. Their 0.71 correlation means they have sometimes moved together and sometimes differently. TEXX charges 0.85%/yr vs 0.89%/yr for DVXE.

Performance

TEXX vs. DVXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Kinetics Texas ETF (TEXX) and WEBs Energy XLE Defined Volatility ETF (DVXE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TEXX

• 1D: 0.82%
• 1M: 5.41%
• 6M: 15.40%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

DVXE

• 1D: 1.38%
• 1M: 15.67%
• 6M: 26.93%
• YTD: 50.61%
• 1Y: 61.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 55.89%

*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)
DVXE WEBs Energy XLE Defined Volatility ETF	$14.59K	$12.40K	$16.43K
TEXX Horizon Kinetics Texas ETF	$18.12K	$29.15K	$28.51K

TEXX vs. DVXE - Yearly Performance Comparison

	2026 (YTD)
TEXX Horizon Kinetics Texas ETF	15.81%
DVXE WEBs Energy XLE Defined Volatility ETF	34.52%

Correlation

The correlation between TEXX and DVXE is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.71

Return for Risk

TEXX vs. DVXE — 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.

DVXE

DVXE Risk / Return Rank: 68
DVXE Sharpe Ratio Rank: 79
DVXE Sortino Ratio Rank: 70
DVXE Omega Ratio Rank: 68
DVXE Calmar Ratio Rank: 73
DVXE Martin Ratio Rank: 51

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. DVXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Texas ETF (TEXX) and WEBs Energy XLE Defined Volatility ETF (DVXE). 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	DVXE	Difference
Sharpe ratio: Return per unit of total volatility	—	1.83	—
Sortino ratio: Return per unit of downside risk	—	2.31	—
Omega ratio: Gain probability vs. loss probability	—	1.29	—
Calmar ratio: Return relative to maximum drawdown	—	2.59	—
Martin ratio: Return relative to average drawdown	—	6.05	—

Drawdowns

TEXX vs. DVXE - Drawdown Comparison

The maximum TEXX drawdown since its inception was -5.86%, smaller than the maximum DVXE drawdown of -21.83%. Use the drawdown chart below to compare losses from any high point for TEXX and DVXE.

Drawdown Indicators

	TEXX	DVXE	Difference
Max Drawdown Largest peak-to-trough decline	-5.86%	-21.83%	+15.97%
Max Drawdown (1Y) Largest decline over 1 year	—	-21.83%	—
Current Drawdown Current decline from peak	-1.11%	-8.57%	+7.46%
Average Drawdown Average peak-to-trough decline	-2.01%	-7.25%	+5.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.37%	—

Volatility

Volatility by Period

	TEXX	DVXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.29%	—
Volatility (6M) Calculated over the trailing 6-month period	—	22.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.11%	30.92%	-14.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.11%	30.78%	-14.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.11%	30.78%	-14.67%

TEXX vs. DVXE - Expense Ratio Comparison

TEXX has a 0.85% expense ratio, which is lower than DVXE's 0.89% expense ratio.

Dividends

TEXX vs. DVXE - Dividend Comparison

Neither TEXX nor DVXE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both TEXX and DVXE in my portfolio?

TEXX and DVXE have a correlation of 0.71, 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 DVXE?

On fees, TEXX is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TEXX or DVXE?

TEXX is cheaper with a 0.85% expense ratio, compared with 0.89% for DVXE.

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

TEXX and DVXE have nearly identical dividend yields, around 0.00%.

What is the main difference between TEXX and DVXE?

They also come from different issuers: Horizon Kinetics and WEBs. Their fees differ too: 0.85% for TEXX and 0.89% for DVXE.