TOGA vs. NXTE

Last updated Jun 24, 2026

TOGA (Tremblant Global ETF) and NXTE (Axs Green Alpha ETF) are both Global Equities funds. Both are actively managed. Over the past year, TOGA returned -11.25% vs 54.95% for NXTE. A 0.57 correlation means they provide meaningful diversification when combined. TOGA charges 0.69%/yr vs 1.00%/yr for NXTE.

Performance

TOGA vs. NXTE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tremblant Global ETF (TOGA) and Axs Green Alpha ETF (NXTE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOGA achieves a -13.46% return, which is significantly lower than NXTE's 33.79% return.

TOGA

• 1D: -0.56%
• 1M: 1.02%
• YTD: -13.46%
• 6M: -14.10%
• 1Y: -11.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NXTE

• 1D: -5.19%
• 1M: 7.82%
• YTD: 33.79%
• 6M: 32.71%
• 1Y: 54.95%
• 3Y*: 19.20%
• 5Y*: —
• 10Y*: —

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

TOGA vs. NXTE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TOGA Tremblant Global ETF	-13.46%	14.13%	17.44%
NXTE Axs Green Alpha ETF	33.79%	21.84%	3.26%

Correlation

The correlation between TOGA and NXTE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since May 3, 2024	0.57

The correlation between TOGA and NXTE has been stable across timeframes, ranging from 0.49 to 0.57 - a consistent structural relationship.

TOGA vs. NXTE - Sectors Allocation Comparison

Sectors	TOGA	NXTE
Consumer Cyclical	29.8%	3.7%
Communication Services	28.6%	1.6%
Technology	26.7%	53.6%
Financial Services	9.8%	1.3%
Real Estate	2.9%	10.1%
Industrials	2.2%	15.7%
Basic Materials	-	0.5%
Consumer Defensive	-	1.8%
Energy	-	-
Healthcare	-	10.0%
Utilities	-	2.1%

Return for Risk

TOGA vs. NXTE — Risk / Return Rank

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

TOGA

TOGA Risk / Return Rank: 5
TOGA Sharpe Ratio Rank: 5
TOGA Sortino Ratio Rank: 5
TOGA Omega Ratio Rank: 5
TOGA Calmar Ratio Rank: 6
TOGA Martin Ratio Rank: 5

NXTE

NXTE Risk / Return Rank: 69
NXTE Sharpe Ratio Rank: 67
NXTE Sortino Ratio Rank: 61
NXTE Omega Ratio Rank: 60
NXTE Calmar Ratio Rank: 82
NXTE Martin Ratio Rank: 73

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.

TOGA vs. NXTE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tremblant Global ETF (TOGA) and Axs Green Alpha ETF (NXTE). 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.

	TOGA	NXTE	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	1.99	-2.53
Sortino ratio: Return per unit of downside risk	-0.61	2.62	-3.23
Omega ratio: Gain probability vs. loss probability	0.93	1.34	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.40	4.04	-4.43
Martin ratio: Return relative to average drawdown	-0.85	12.46	-13.32

TOGA vs. NXTE - Sharpe Ratio Comparison

The current TOGA Sharpe Ratio is -0.54, which is lower than the NXTE Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of TOGA and NXTE, 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

TOGA vs. NXTE - Drawdown Comparison

The maximum TOGA drawdown since its inception was -28.50%, roughly equal to the maximum NXTE drawdown of -28.64%. Use the drawdown chart below to compare losses from any high point for TOGA and NXTE.

Drawdown Indicators

	TOGA	NXTE	Difference
Max Drawdown Largest peak-to-trough decline	-28.50%	-28.64%	+0.14%
Max Drawdown (1Y) Largest decline over 1 year	-28.50%	-13.68%	-14.82%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.24%	—
Current Drawdown Current decline from peak	-18.83%	-5.19%	-13.64%
Average Drawdown Average peak-to-trough decline	-6.71%	-7.82%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.21%	4.42%	+8.79%

Volatility

TOGA vs. NXTE - Volatility Comparison

The current volatility for Tremblant Global ETF (TOGA) is 7.40%, while Axs Green Alpha ETF (NXTE) has a volatility of 14.78%. This indicates that TOGA experiences smaller price fluctuations and is considered to be less risky than NXTE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TOGA	NXTE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.40%	14.78%	-7.38%
Volatility (6M) Calculated over the trailing 6-month period	17.19%	23.23%	-6.04%
Volatility (1Y) Calculated over the trailing 1-year period	21.10%	27.70%	-6.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.11%	26.71%	-5.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.11%	26.71%	-5.60%

TOGA vs. NXTE - Expense Ratio Comparison

TOGA has a 0.69% expense ratio, which is lower than NXTE's 1.00% expense ratio.

Dividends

TOGA vs. NXTE - Dividend Comparison

TOGA has not paid dividends to shareholders, while NXTE's dividend yield for the trailing twelve months is around 0.38%.

Position	TTM	2025	2024	2023	2022
NXTE Axs Green Alpha ETF	0.38%	0.36%	0.52%	0.76%	0.13%
TOGA Tremblant Global ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TOGA and NXTE in my portfolio?

TOGA and NXTE have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TOGA or NXTE?

NXTE has higher volatility (14.78%) compared to TOGA (7.40%). In terms of maximum drawdown, TOGA dropped -28.50% vs NXTE's -28.64%.

Which ETF is better, TOGA or NXTE?

On 1-year performance, NXTE leads with 54.95% vs -11.25% for TOGA. On fees, TOGA is cheaper at 0.69% per year. On volatility, TOGA has been the lower-risk option at 7.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TOGA or NXTE?

Over the 1-year period, NXTE has performed better with a 54.95% return vs -11.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TOGA or NXTE?

TOGA is cheaper with a 0.69% expense ratio, compared with 1.00% for NXTE.

Which ETF pays a higher dividend yield, TOGA or NXTE?

NXTE has the higher dividend yield at 0.38%, compared with 0.00% for TOGA.

What is the main difference between TOGA and NXTE?

They also come from different issuers: Tremblant Advisors and AXS. Their fees differ too: 0.69% for TOGA and 1.00% for NXTE.

Which has better risk-adjusted returns?

NXTE currently has the higher Sharpe Ratio (1.99 vs -0.54), 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.