TEXX vs. PSCE

Last updated Jun 6, 2026

TEXX (Horizon Kinetics Texas ETF) and PSCE (Invesco S&P SmallCap Energy ETF) are both Energy Equities funds. TEXX is actively managed, while PSCE is passively managed. A 0.71 correlation means they provide meaningful diversification when combined. TEXX charges 0.85%/yr vs 0.29%/yr for PSCE.

Performance

TEXX vs. PSCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Kinetics Texas ETF (TEXX) and Invesco S&P SmallCap Energy ETF (PSCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TEXX

• 1D: -2.36%
• 1M: 0.99%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PSCE

• 1D: -4.25%
• 1M: -3.83%
• YTD: 37.51%
• 6M: 29.76%
• 1Y: 59.42%
• 3Y*: 11.48%
• 5Y*: 10.01%
• 10Y*: -2.56%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TEXX vs. PSCE - Yearly Performance Comparison

	2026 (YTD)
TEXX Horizon Kinetics Texas ETF	12.44%
PSCE Invesco S&P SmallCap Energy ETF	21.67%

Correlation

The correlation between TEXX and PSCE is 0.71, 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 23, 2026	0.71

Return for Risk

TEXX vs. PSCE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PSCE

PSCE Risk / Return Rank: 73
PSCE Sharpe Ratio Rank: 71
PSCE Sortino Ratio Rank: 63
PSCE Omega Ratio Rank: 59
PSCE Calmar Ratio Rank: 93
PSCE Martin Ratio Rank: 82

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TEXX vs. PSCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Texas ETF (TEXX) and Invesco S&P SmallCap Energy ETF (PSCE). 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.

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

Sharpe Ratios by Period

	TEXX	PSCE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.20	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.27	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.26	-0.09	+2.35

Drawdowns

TEXX vs. PSCE - Drawdown Comparison

The maximum TEXX drawdown since its inception was -4.97%, smaller than the maximum PSCE drawdown of -96.21%. Use the drawdown chart below to compare losses from any high point for TEXX and PSCE.

Drawdown Indicators

	TEXX	PSCE	Difference
Max Drawdown Largest peak-to-trough decline	-4.97%	-96.21%	+91.24%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.41%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-44.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-45.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-90.70%	—
Current Drawdown Current decline from peak	-3.28%	-75.57%	+72.29%
Average Drawdown Average peak-to-trough decline	-1.55%	-58.84%	+57.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.79%	—

Volatility

Volatility by Period

	TEXX	PSCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.82%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.74%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.66%	27.13%	-10.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.66%	37.48%	-20.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.66%	43.23%	-26.57%

TEXX vs. PSCE - Expense Ratio Comparison

TEXX has a 0.85% expense ratio, which is higher than PSCE's 0.29% expense ratio.

Dividends

TEXX vs. PSCE - Dividend Comparison

TEXX has not paid dividends to shareholders, while PSCE's dividend yield for the trailing twelve months is around 1.90%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSCE Invesco S&P SmallCap Energy ETF	1.90%	2.39%	1.70%	2.57%	1.70%	0.46%	0.87%	0.14%	0.22%	0.04%	0.22%	0.82%
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

Can I hold both TEXX and PSCE in my portfolio?

TEXX and PSCE 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 PSCE?

On fees, PSCE is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TEXX or PSCE?

PSCE is cheaper with a 0.29% expense ratio, compared with 0.85% for TEXX.

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

PSCE has the higher dividend yield at 1.90%, compared with 0.00% for TEXX.

What is the main difference between TEXX and PSCE?

They also come from different issuers: Horizon Kinetics and Invesco. Their fees differ too: 0.85% for TEXX and 0.29% for PSCE.