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. A 0.62 correlation means they provide meaningful diversification when combined. 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
- 0.11%
- 1M
- -1.00%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IEZ
- 1D
- 1.37%
- 1M
- -9.91%
- 6M
- 18.77%
- YTD
- 31.97%
- 1Y
- 51.00%
- 3Y*
- 8.64%
- 5Y*
- 14.29%
- 10Y*
- -1.95%
TEXX vs. IEZ - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
TEXX Horizon Kinetics Texas ETF | 11.95% |
IEZ iShares U.S. Oil Equipment & Services ETF | 11.01% |
Correlation
The correlation between TEXX and IEZ is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026 | 0.62 |
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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 | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.60 | — |
| Martin ratioReturn relative to average drawdown | — | 9.20 | — |
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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 | -3.40% | -56.44% | +53.04% |
Average DrawdownAverage peak-to-trough decline | -2.07% | -48.28% | +46.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.74% | — |
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 | — | 8.80% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 21.02% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 16.18% | 29.36% | -13.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 36.18% | -20.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.18% | 41.47% | -25.29% |
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 1.26%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEZ iShares U.S. Oil Equipment & Services ETF | 1.26% | 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 0.62, 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 1.26%, 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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