THRO vs. TRTY

Last updated Jul 15, 2026

THRO (iShares U.S. Thematic Rotation Active ETF) and TRTY (Cambria Trinity ETF) are both Tactical Allocation funds. THRO is actively managed, while TRTY is passively managed. Over the past 3 years, THRO returned 21.46%/yr vs 10.31%/yr for TRTY. A 0.61 correlation means they provide meaningful diversification when combined. THRO charges 0.60%/yr vs 0.44%/yr for TRTY.

Performance

THRO vs. TRTY - Performance Comparison

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

Returns By Period

In the year-to-date period, THRO achieves a 11.85% return, which is significantly higher than TRTY's 9.21% return.

THRO

• 1D: 0.49%
• 1M: 0.98%
• 6M: 9.93%
• YTD: 11.85%
• 1Y: 20.71%
• 3Y*: 21.46%
• 5Y*: —
• 10Y*: —

TRTY

• 1D: 0.57%
• 1M: -0.40%
• 6M: 5.89%
• YTD: 9.21%
• 1Y: 19.60%
• 3Y*: 10.31%
• 5Y*: 6.35%
• 10Y*: —

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

THRO vs. TRTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
THRO iShares U.S. Thematic Rotation Active ETF	11.85%	15.04%	32.03%	24.40%	-17.85%	1.01%
TRTY Cambria Trinity ETF	9.21%	16.35%	3.89%	3.97%	-3.30%	2.26%

Correlation

The correlation between THRO and TRTY is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021	0.61

The correlation between THRO and TRTY has been stable across timeframes, ranging from 0.61 to 0.66 - a consistent structural relationship.

Return for Risk

THRO vs. TRTY — Risk / Return Rank

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

THRO

THRO Risk / Return Rank: 53
THRO Sharpe Ratio Rank: 55
THRO Sortino Ratio Rank: 54
THRO Omega Ratio Rank: 51
THRO Calmar Ratio Rank: 47
THRO Martin Ratio Rank: 59

TRTY

TRTY Risk / Return Rank: 79
TRTY Sharpe Ratio Rank: 77
TRTY Sortino Ratio Rank: 69
TRTY Omega Ratio Rank: 81
TRTY Calmar Ratio Rank: 83
TRTY Martin Ratio Rank: 83

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.

THRO vs. TRTY - Risk-Adjusted Trends Comparison

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

	THRO	TRTY	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.96	-0.48
Sortino ratio: Return per unit of downside risk	2.10	2.50	-0.41
Omega ratio: Gain probability vs. loss probability	1.26	1.38	-0.12
Calmar ratio: Return relative to maximum drawdown	1.91	3.59	-1.68
Martin ratio: Return relative to average drawdown	8.09	12.76	-4.67

THRO vs. TRTY - Sharpe Ratio Comparison

The current THRO Sharpe Ratio is 1.48, which is comparable to the TRTY Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of THRO and TRTY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

THRO vs. TRTY - Drawdown Comparison

The maximum THRO drawdown since its inception was -26.54%, which is greater than TRTY's maximum drawdown of -22.35%. Use the drawdown chart below to compare losses from any high point for THRO and TRTY.

Drawdown Indicators

	THRO	TRTY	Difference
Max Drawdown Largest peak-to-trough decline	-26.54%	-22.35%	-4.19%
Max Drawdown (1Y) Largest decline over 1 year	-10.87%	-5.49%	-5.38%
Max Drawdown (3Y) Largest decline over 3 years	-19.07%	-9.25%	-9.82%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.72%	—
Current Drawdown Current decline from peak	-1.38%	-1.43%	+0.05%
Average Drawdown Average peak-to-trough decline	-6.58%	-4.14%	-2.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	1.54%	+1.03%

Volatility

THRO vs. TRTY - Volatility Comparison

iShares U.S. Thematic Rotation Active ETF (THRO) has a higher volatility of 4.32% compared to Cambria Trinity ETF (TRTY) at 2.41%. This indicates that THRO's price experiences larger fluctuations and is considered to be riskier than TRTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THRO	TRTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.32%	2.41%	+1.91%
Volatility (6M) Calculated over the trailing 6-month period	11.39%	8.66%	+2.73%
Volatility (1Y) Calculated over the trailing 1-year period	14.02%	10.05%	+3.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.71%	10.55%	+8.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.71%	10.40%	+8.31%

THRO vs. TRTY - Expense Ratio Comparison

THRO has a 0.60% expense ratio, which is higher than TRTY's 0.44% expense ratio.

Dividends

THRO vs. TRTY - Dividend Comparison

THRO's dividend yield for the trailing twelve months is around 0.25%, less than TRTY's 2.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
THRO iShares U.S. Thematic Rotation Active ETF	0.25%	0.15%	0.73%	0.55%	0.90%	0.00%	0.00%	0.00%	0.00%
TRTY Cambria Trinity ETF	2.90%	2.86%	3.55%	3.24%	5.17%	4.52%	1.99%	2.64%	1.07%

Frequently Asked Questions

Can I hold both THRO and TRTY in my portfolio?

THRO and TRTY have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THRO or TRTY?

THRO has higher volatility (4.32%) compared to TRTY (2.41%). In terms of maximum drawdown, THRO dropped -26.54% vs TRTY's -22.35%.

Which ETF is better, THRO or TRTY?

On 3-year performance, THRO leads with 21.46% vs 10.31% for TRTY. On fees, TRTY is cheaper at 0.44% per year. On volatility, TRTY has been the lower-risk option at 2.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, THRO or TRTY?

Over the 3-year period, THRO has performed better with a 21.46% return vs 10.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, THRO or TRTY?

TRTY is cheaper with a 0.44% expense ratio, compared with 0.60% for THRO.

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

TRTY has the higher dividend yield at 2.90%, compared with 0.25% for THRO.

What is the main difference between THRO and TRTY?

They also come from different issuers: iShares and Cambria. Their fees differ too: 0.60% for THRO and 0.44% for TRTY.

Which has better risk-adjusted returns?

TRTY currently has the higher Sharpe Ratio (1.96 vs 1.48), 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.