TXO vs. KRP

Last updated Jun 23, 2026

TXO (TXO Partners, L.P.) and KRP (Kimbell Royalty Partners, LP) are both stocks. Both operate in the Oil & Gas E&P industry within the Energy sector. Over the past 3 years, TXO returned -6.30%/yr vs 11.77%/yr for KRP. At a 0.39 correlation, their price movements are largely independent.

Performance

TXO vs. KRP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TXO Partners, L.P. (TXO) and Kimbell Royalty Partners, LP (KRP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TXO achieves a 24.41% return, which is significantly lower than KRP's 31.73% return.

TXO

• 1D: 1.78%
• 1M: -8.10%
• YTD: 24.41%
• 6M: 24.41%
• 1Y: -11.70%
• 3Y*: -6.30%
• 5Y*: —
• 10Y*: —

KRP

• 1D: -0.47%
• 1M: -3.23%
• YTD: 31.73%
• 6M: 34.47%
• 1Y: 11.75%
• 3Y*: 11.77%
• 5Y*: 14.28%
• 10Y*: —

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

TXO vs. KRP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TXO TXO Partners, L.P.	24.41%	-27.94%	4.48%	-11.11%
KRP Kimbell Royalty Partners, LP	31.73%	-18.60%	20.43%	0.46%

Correlation

The correlation between TXO and KRP is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jan 27, 2023	0.39

Over the past year, TXO and KRP have become more correlated (0.63) than their long-term average of 0.39, meaning their price movements have been converging.

Fundamentals

Market Cap TXO : $694.13M KRP : $1.75B
EPS TXO : -$1.88 KRP : $0.60
PS Ratio TXO : 1.85 KRP : 5.69
PB Ratio TXO : 0.83 KRP : 3.35
Total Revenue (TTM) TXO : $355.40M KRP : $309.11M
Gross Profit (TTM) TXO : $23.12M KRP : $319.28M
EBITDA (TTM) TXO : $110.65M KRP : $177.16M

Return for Risk

TXO vs. KRP — Risk / Return Rank

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

TXO

TXO Risk / Return Rank: 24
TXO Sharpe Ratio Rank: 21
TXO Sortino Ratio Rank: 20
TXO Omega Ratio Rank: 21
TXO Calmar Ratio Rank: 30
TXO Martin Ratio Rank: 27

KRP

KRP Risk / Return Rank: 55
KRP Sharpe Ratio Rank: 59
KRP Sortino Ratio Rank: 51
KRP Omega Ratio Rank: 50
KRP Calmar Ratio Rank: 55
KRP Martin Ratio Rank: 58

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.

TXO vs. KRP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TXO Partners, L.P. (TXO) and Kimbell Royalty Partners, LP (KRP). 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.

	TXO	KRP	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	0.51	-0.99
Sortino ratio: Return per unit of downside risk	-0.53	0.83	-1.37
Omega ratio: Gain probability vs. loss probability	0.94	1.10	-0.16
Calmar ratio: Return relative to maximum drawdown	-0.37	0.58	-0.94
Martin ratio: Return relative to average drawdown	-0.78	1.49	-2.26

TXO vs. KRP - Sharpe Ratio Comparison

The current TXO Sharpe Ratio is -0.47, which is lower than the KRP Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of TXO and KRP, 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

TXO vs. KRP - Drawdown Comparison

The maximum TXO drawdown since its inception was -46.41%, smaller than the maximum KRP drawdown of -80.91%. Use the drawdown chart below to compare losses from any high point for TXO and KRP.

Drawdown Indicators

	TXO	KRP	Difference
Max Drawdown Largest peak-to-trough decline	-46.41%	-80.91%	+34.50%
Max Drawdown (1Y) Largest decline over 1 year	-32.14%	-20.50%	-11.64%
Max Drawdown (3Y) Largest decline over 3 years	-46.41%	-27.58%	-18.83%
Max Drawdown (5Y) Largest decline over 5 years	—	-27.58%	—
Current Drawdown Current decline from peak	-29.91%	-5.41%	-24.50%
Average Drawdown Average peak-to-trough decline	-18.69%	-19.36%	+0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.45%	7.97%	+7.48%

Volatility

TXO vs. KRP - Volatility Comparison

TXO Partners, L.P. (TXO) has a higher volatility of 10.48% compared to Kimbell Royalty Partners, LP (KRP) at 6.53%. This indicates that TXO's price experiences larger fluctuations and is considered to be riskier than KRP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TXO	KRP	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.48%	6.53%	+3.95%
Volatility (6M) Calculated over the trailing 6-month period	19.56%	16.82%	+2.74%
Volatility (1Y) Calculated over the trailing 1-year period	24.77%	23.03%	+1.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.13%	28.35%	+0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.13%	41.28%	-12.15%

Dividends

TXO vs. KRP - Dividend Comparison

TXO's dividend yield for the trailing twelve months is around 11.59%, more than KRP's 10.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
KRP Kimbell Royalty Partners, LP	10.27%	13.61%	10.78%	11.50%	11.26%	8.36%	11.00%	9.29%	12.22%	5.17%
TXO TXO Partners, L.P.	11.59%	18.93%	14.13%	8.25%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both TXO and KRP in my portfolio?

TXO and KRP have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TXO or KRP?

TXO has higher volatility (10.48%) compared to KRP (6.53%). In terms of maximum drawdown, TXO dropped -46.41% vs KRP's -80.91%.

Which has better risk-adjusted returns?

KRP currently has the higher Sharpe Ratio (0.51 vs -0.47), 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.