THIR vs. THRO

Last updated Jun 3, 2026

THIR (THOR Index Rotation ETF) and THRO (iShares U.S. Thematic Rotation Active ETF) are both Tactical Allocation funds. THIR is passively managed, while THRO is actively managed. Over the past year, THIR returned 25.79% vs 27.85% for THRO. Their correlation of 0.85 suggests significant overlap in exposure. THIR charges 0.70%/yr vs 0.60%/yr for THRO.

Performance

THIR vs. THRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in THOR Index Rotation ETF (THIR) and iShares U.S. Thematic Rotation Active ETF (THRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THIR achieves a 8.63% return, which is significantly lower than THRO's 13.41% return.

THIR

• 1D: 0.49%
• 1M: 8.06%
• YTD: 8.63%
• 6M: 9.22%
• 1Y: 25.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

THRO

• 1D: 0.41%
• 1M: 7.00%
• YTD: 13.41%
• 6M: 13.26%
• 1Y: 27.85%
• 3Y*: 24.64%
• 5Y*: —
• 10Y*: —

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

THIR vs. THRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
THIR THOR Index Rotation ETF	8.63%	25.22%	3.26%
THRO iShares U.S. Thematic Rotation Active ETF	13.41%	15.04%	3.70%

Correlation

The correlation between THIR and THRO is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024	0.85

The correlation between THIR and THRO has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

THIR vs. THRO - Sectors Allocation Comparison

Sectors	THIR	THRO
Technology	45.3%	40.7%
Communication Services	13.2%	11.6%
Consumer Cyclical	11.2%	8.6%
Healthcare	6.3%	6.6%
Consumer Defensive	6.2%	7.1%
Financial Services	6.0%	12.1%
Industrials	5.5%	10.4%
Energy	2.1%	1.7%
Utilities	1.8%	0.1%
Basic Materials	1.5%	0.9%
Real Estate	1.0%	-

Return for Risk

THIR vs. THRO — Risk / Return Rank

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

THIR

THIR Risk / Return Rank: 64
THIR Sharpe Ratio Rank: 66
THIR Sortino Ratio Rank: 67
THIR Omega Ratio Rank: 65
THIR Calmar Ratio Rank: 60
THIR Martin Ratio Rank: 59

THRO

THRO Risk / Return Rank: 61
THRO Sharpe Ratio Rank: 63
THRO Sortino Ratio Rank: 64
THRO Omega Ratio Rank: 61
THRO Calmar Ratio Rank: 52
THRO Martin Ratio Rank: 63

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.

THIR vs. THRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for THOR Index Rotation ETF (THIR) and iShares U.S. Thematic Rotation Active ETF (THRO). 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.

	THIR	THRO	Difference
Sharpe ratio Return per unit of total volatility	2.25	2.16	+0.09
Sortino ratio Return per unit of downside risk	3.14	3.00	+0.15
Omega ratio Gain probability vs. loss probability	1.40	1.38	+0.02
Calmar ratio Return relative to maximum drawdown	3.02	2.62	+0.39
Martin ratio Return relative to average drawdown	10.82	11.67	-0.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

THIR vs. THRO - Sharpe Ratio Comparison

The current THIR Sharpe Ratio is 2.25, which is comparable to the THRO Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of THIR and THRO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	THIR	THRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	2.16	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	1.78	0.76	+1.03

Drawdowns

THIR vs. THRO - Drawdown Comparison

The maximum THIR drawdown since its inception was -10.05%, smaller than the maximum THRO drawdown of -26.54%. Use the drawdown chart below to compare losses from any high point for THIR and THRO.

Drawdown Indicators

	THIR	THRO	Difference
Max Drawdown Largest peak-to-trough decline	-10.05%	-26.54%	+16.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-10.87%	+1.99%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.07%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.99%	-6.70%	+4.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	2.45%	+0.03%

Volatility

THIR vs. THRO - Volatility Comparison

THOR Index Rotation ETF (THIR) and iShares U.S. Thematic Rotation Active ETF (THRO) have volatilities of 3.48% and 3.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THIR	THRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	3.42%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	8.44%	10.08%	-1.64%
Volatility (1Y) Calculated over the trailing 1-year period	11.56%	12.99%	-1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.64%	18.72%	-6.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.64%	18.72%	-6.08%

THIR vs. THRO - Expense Ratio Comparison

THIR has a 0.70% expense ratio, which is higher than THRO's 0.60% expense ratio.

Dividends

THIR vs. THRO - Dividend Comparison

THIR's dividend yield for the trailing twelve months is around 0.32%, more than THRO's 0.16% yield.

Position	TTM	2025	2024	2023	2022
THIR THOR Index Rotation ETF	0.32%	0.35%	0.29%	0.00%	0.00%
THRO iShares U.S. Thematic Rotation Active ETF	0.16%	0.15%	0.73%	0.55%	0.90%

Frequently Asked Questions

Can I hold both THIR and THRO in my portfolio?

THIR and THRO have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THIR or THRO?

THIR has higher volatility (3.48%) compared to THRO (3.42%). In terms of maximum drawdown, THIR dropped -10.05% vs THRO's -26.54%.

Which ETF is better, THIR or THRO?

On 1-year performance, THRO leads with 27.85% vs 25.79% for THIR. On fees, THRO is cheaper at 0.60% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, THIR or THRO?

Over the 1-year period, THRO has performed better with a 27.85% return vs 25.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, THIR or THRO?

THRO is cheaper with a 0.60% expense ratio, compared with 0.70% for THIR.

Which ETF pays a higher dividend yield, THIR or THRO?

THIR has the higher dividend yield at 0.32%, compared with 0.16% for THRO.

What is the main difference between THIR and THRO?

They also come from different issuers: THOR and iShares. Their fees differ too: 0.70% for THIR and 0.60% for THRO.

Which has better risk-adjusted returns?

THIR currently has the higher Sharpe Ratio (2.25 vs 2.16), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.