TEXX vs. IGE
TEXX (Horizon Kinetics Texas ETF) and IGE (iShares North American Natural Resources ETF) are both Energy Equities funds. TEXX is actively managed, while IGE is passively managed. A 0.76 correlation means they provide meaningful diversification when combined. TEXX charges 0.85%/yr vs 0.39%/yr for IGE.
Performance
TEXX vs. IGE - Performance Comparison
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Returns By Period
TEXX
- 1D
- 0.30%
- 1M
- -5.46%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IGE
- 1D
- 0.73%
- 1M
- -5.61%
- YTD
- 16.30%
- 6M
- 16.09%
- 1Y
- 31.04%
- 3Y*
- 18.81%
- 5Y*
- 16.68%
- 10Y*
- 9.16%
TEXX vs. IGE - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
TEXX Horizon Kinetics Texas ETF | 9.57% |
IGE iShares North American Natural Resources ETF | 5.29% |
Correlation
The correlation between TEXX and IGE is 0.76, 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 | 0.76 |
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Return for Risk
TEXX vs. IGE — Risk / Return Rank
TEXX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IGE
TEXX vs. IGE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Texas ETF (TEXX) and iShares North American Natural Resources ETF (IGE). 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 | IGE | 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 | — | 3.54 | — |
| Martin ratioReturn relative to average drawdown | — | 11.85 | — |
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Drawdowns
TEXX vs. IGE - Drawdown Comparison
The maximum TEXX drawdown since its inception was -5.86%, smaller than the maximum IGE drawdown of -67.55%. Use the drawdown chart below to compare losses from any high point for TEXX and IGE.
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Drawdown Indicators
| TEXX | IGE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.86% | -67.55% | +61.69% |
Max Drawdown (1Y)Largest decline over 1 year | — | -8.80% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.49% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.72% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.57% | — |
Current DrawdownCurrent decline from peak | -5.46% | -8.13% | +2.67% |
Average DrawdownAverage peak-to-trough decline | -1.78% | -18.87% | +17.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.64% | — |
Volatility
TEXX vs. IGE - Volatility Comparison
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Volatility by Period
| TEXX | IGE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 5.31% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 12.97% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 16.39% | 16.53% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.39% | 22.40% | -6.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.39% | 24.95% | -8.56% |
TEXX vs. IGE - Expense Ratio Comparison
TEXX has a 0.85% expense ratio, which is higher than IGE's 0.39% expense ratio.
Dividends
TEXX vs. IGE - Dividend Comparison
TEXX has not paid dividends to shareholders, while IGE's dividend yield for the trailing twelve months is around 2.05%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGE iShares North American Natural Resources ETF | 2.05% | 2.32% | 2.54% | 2.85% | 2.96% | 2.92% | 3.34% | 5.55% | 2.68% | 2.11% | 1.66% | 3.08% |
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 IGE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGE is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGE is cheaper with a 0.39% expense ratio, compared with 0.85% for TEXX.
IGE has the higher dividend yield at 2.05%, 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 0.39% for IGE.
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