THMR vs. ELM

Last updated Jul 16, 2026

THMR (THOR AdaptiveRisk Dynamic ETF) and ELM (Elm Market Navigator ETF) are both Tactical Allocation funds. Both are actively managed. A 0.79 correlation means they provide meaningful diversification when combined. THMR charges 1.10%/yr vs 0.24%/yr for ELM.

Performance

THMR vs. ELM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in THOR AdaptiveRisk Dynamic ETF (THMR) and Elm Market Navigator ETF (ELM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

THMR

• 1D: 0.16%
• 1M: -2.94%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ELM

• 1D: 0.20%
• 1M: -0.48%
• 6M: 5.23%
• YTD: 7.45%
• 1Y: 16.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

THMR vs. ELM - Yearly Performance Comparison

	2026 (YTD)
THMR THOR AdaptiveRisk Dynamic ETF	1.65%
ELM Elm Market Navigator ETF	5.13%

Correlation

The correlation between THMR and ELM is 0.79, 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 Apr 9, 2026	0.79

Return for Risk

THMR vs. ELM — Risk / Return Rank

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

THMR

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

ELM

ELM Risk / Return Rank: 60
ELM Sharpe Ratio Rank: 62
ELM Sortino Ratio Rank: 61
ELM Omega Ratio Rank: 63
ELM Calmar Ratio Rank: 53
ELM Martin Ratio Rank: 61

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.

THMR vs. ELM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for THOR AdaptiveRisk Dynamic ETF (THMR) and Elm Market Navigator ETF (ELM). 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.

	THMR	ELM	Difference
Sharpe ratio: Return per unit of total volatility	—	1.66	—
Sortino ratio: Return per unit of downside risk	—	2.32	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	2.17	—
Martin ratio: Return relative to average drawdown	—	8.75	—

Drawdowns

THMR vs. ELM - Drawdown Comparison

The maximum THMR drawdown since its inception was -7.95%, smaller than the maximum ELM drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for THMR and ELM.

Drawdown Indicators

	THMR	ELM	Difference
Max Drawdown Largest peak-to-trough decline	-7.95%	-9.02%	+1.07%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.52%	—
Current Drawdown Current decline from peak	-5.91%	-0.68%	-5.23%
Average Drawdown Average peak-to-trough decline	-2.70%	-1.31%	-1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.86%	—

Volatility

Volatility by Period

	THMR	ELM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.72%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.91%	9.81%	+5.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.91%	10.34%	+4.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.91%	10.34%	+4.57%

THMR vs. ELM - Expense Ratio Comparison

THMR has a 1.10% expense ratio, which is higher than ELM's 0.24% expense ratio.

Dividends

THMR vs. ELM - Dividend Comparison

THMR has not paid dividends to shareholders, while ELM's dividend yield for the trailing twelve months is around 2.53%.

Position	TTM	2025
ELM Elm Market Navigator ETF	2.53%	2.71%
THMR THOR AdaptiveRisk Dynamic ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both THMR and ELM in my portfolio?

THMR and ELM have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, THMR or ELM?

On fees, ELM is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, THMR or ELM?

ELM is cheaper with a 0.24% expense ratio, compared with 1.10% for THMR.

Which ETF pays a higher dividend yield, THMR or ELM?

ELM has the higher dividend yield at 2.53%, compared with 0.00% for THMR.

What is the main difference between THMR and ELM?

They also come from different issuers: THOR Financial Technologies and Elm. Their fees differ too: 1.10% for THMR and 0.24% for ELM.