TEXX vs. RAYS

Last updated Aug 1, 2026

TEXX (Horizon Kinetics Texas ETF) and RAYS (Global X Solar ETF) are both exchange-traded funds - TEXX is a Energy Equities fund actively managed by Horizon Kinetics, while RAYS is a Alternative Energy Equities fund tracking the Solactive Solar Index. TEXX is actively managed, while RAYS is passively managed. TEXX charges 0.85%/yr vs 0.50%/yr for RAYS.

Performance

TEXX vs. RAYS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Kinetics Texas ETF (TEXX) and Global X Solar ETF (RAYS). 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*: —

RAYS

• 1D: 0.00%
• 1M: 0.00%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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)
RAYS Global X Solar ETF	$0.00	$0.00	$0.00
TEXX Horizon Kinetics Texas ETF	$18.12K	$29.15K	$28.51K

TEXX vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
TEXX Horizon Kinetics Texas ETF	14.93%
RAYS Global X Solar ETF	0.00%

Return for Risk

TEXX vs. RAYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Texas ETF (TEXX) and Global X Solar ETF (RAYS). 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.

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

Drawdowns

TEXX vs. RAYS - Drawdown Comparison

The maximum TEXX drawdown since its inception was -5.86%, which is greater than RAYS's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for TEXX and RAYS.

Drawdown Indicators

	TEXX	RAYS	Difference
Max Drawdown Largest peak-to-trough decline	-5.86%	0.00%	-5.86%
Current Drawdown Current decline from peak	-1.11%	0.00%	-1.11%
Average Drawdown Average peak-to-trough decline	-2.01%	0.00%	-2.01%

Volatility

Volatility by Period

	TEXX	RAYS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	16.11%	0.00%	+16.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.11%	0.00%	+16.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.11%	0.00%	+16.11%

TEXX vs. RAYS - Expense Ratio Comparison

TEXX has a 0.85% expense ratio, which is higher than RAYS's 0.50% expense ratio.

Dividends

TEXX vs. RAYS - Dividend Comparison

Neither TEXX nor RAYS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Which ETF is better, TEXX or RAYS?

On fees, RAYS is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TEXX or RAYS?

RAYS is cheaper with a 0.50% expense ratio, compared with 0.85% for TEXX.

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

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

What is the main difference between TEXX and RAYS?

TEXX is categorized as Energy Equities, while RAYS is Alternative Energy Equities. They also come from different issuers: Horizon Kinetics and Global X. Their fees differ too: 0.85% for TEXX and 0.50% for RAYS.