TEXX vs. IEZ
TEXX (Horizon Kinetics Texas ETF) and IEZ (iShares U.S. Oil Equipment & Services ETF) are both Energy Equities funds. TEXX is actively managed, while IEZ is passively managed. Their 0.64 correlation means they have sometimes moved together and sometimes differently. TEXX charges 0.85%/yr vs 0.42%/yr for IEZ.
Performance
TEXX vs. IEZ - Performance Comparison
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Returns By Period
TEXX
- 1D
- 0.82%
- 1M
- 5.41%
- 6M
- 15.40%
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
IEZ
- 1D
- 2.14%
- 1M
- 7.27%
- 6M
- 9.35%
- YTD
- 33.61%
- 1Y
- 61.28%
- 3Y*
- 6.89%
- 5Y*
- 17.11%
- 10Y*
- -0.93%
- ALL TIME*
- -1.89%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.08M | $5.63M | $14.82M | |
| $18.12K | $29.15K | $28.51K |
TEXX vs. IEZ - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
TEXX Horizon Kinetics Texas ETF | 15.81% |
IEZ iShares U.S. Oil Equipment & Services ETF | 12.39% |
Correlation
The correlation between TEXX and IEZ is 0.64, 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 | 0.64 |
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Return for Risk
TEXX vs. IEZ — Risk / Return Rank
TEXX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IEZ
TEXX vs. IEZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Texas ETF (TEXX) and iShares U.S. Oil Equipment & Services ETF (IEZ). 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 | IEZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.32 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.75 | — |
| Martin ratioReturn relative to average drawdown | — | 8.44 | — |
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Drawdowns
TEXX vs. IEZ - Drawdown Comparison
The maximum TEXX drawdown since its inception was -5.86%, smaller than the maximum IEZ drawdown of -92.52%. Use the drawdown chart below to compare losses from any high point for TEXX and IEZ.
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Drawdown Indicators
| TEXX | IEZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.86% | -92.52% | +86.66% |
Max Drawdown (1Y)Largest decline over 1 year | — | -20.34% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -40.25% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.25% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -88.29% | — |
Current DrawdownCurrent decline from peak | -1.11% | -55.90% | +54.79% |
Average DrawdownAverage peak-to-trough decline | -2.01% | -48.31% | +46.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 6.63% | — |
Volatility
TEXX vs. IEZ - Volatility Comparison
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Volatility by Period
| TEXX | IEZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 7.82% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 20.66% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 16.11% | 28.78% | -12.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 35.96% | -19.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.11% | 41.44% | -25.33% |
TEXX vs. IEZ - Expense Ratio Comparison
TEXX has a 0.85% expense ratio, which is higher than IEZ's 0.42% expense ratio.
Dividends
TEXX vs. IEZ - Dividend Comparison
TEXX has not paid dividends to shareholders, while IEZ's dividend yield for the trailing twelve months is around 1.24%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEZ iShares U.S. Oil Equipment & Services ETF | 1.24% | 1.87% | 1.76% | 0.97% | 0.65% | 1.20% | 2.07% | 2.28% | 1.81% | 3.42% | 0.91% | 2.40% |
TEXX Horizon Kinetics Texas ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TEXX and IEZ have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEZ is cheaper at 0.42% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEZ is cheaper with a 0.42% expense ratio, compared with 0.85% for TEXX.
IEZ has the higher dividend yield at 1.24%, compared with 0.00% for TEXX.
They also come from different issuers: Horizon Kinetics and iShares. Their fees differ too: 0.85% for TEXX and 0.42% for IEZ.
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