TXS vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Texas Capital Texas Equity Index ETF (TXS) and S&P 500 Index (^GSPC).

TXS is a passively managed fund by Texas Capital that tracks the performance of the Texas Capital Texas Equity Index - Benchmark TR Gross. It was launched on Jul 12, 2023.

Performance

TXS vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Texas Capital Texas Equity Index ETF (TXS) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

TXS vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TXS Texas Capital Texas Equity Index ETF	5.37%	10.31%	24.29%	5.64%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	5.76%

Returns By Period

In the year-to-date period, TXS achieves a 5.37% return, which is significantly higher than ^GSPC's -3.95% return.

TXS

• 1D: -0.22%
• 1M: -4.56%
• YTD: 5.37%
• 6M: 2.06%
• 1Y: 19.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

TXS vs. ^GSPC — Risk / Return Rank

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

TXS

TXS Risk / Return Rank: 60
TXS Sharpe Ratio Rank: 57
TXS Sortino Ratio Rank: 59
TXS Omega Ratio Rank: 61
TXS Calmar Ratio Rank: 55
TXS Martin Ratio Rank: 67

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

TXS vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Texas Capital Texas Equity Index ETF (TXS) and S&P 500 Index (^GSPC). 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.

	TXS	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.08	0.92	+0.16
Sortino ratio Return per unit of downside risk	1.58	1.41	+0.17
Omega ratio Gain probability vs. loss probability	1.24	1.21	+0.02
Calmar ratio Return relative to maximum drawdown	1.57	1.41	+0.16
Martin ratio Return relative to average drawdown	7.63	6.61	+1.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TXS vs. ^GSPC - Sharpe Ratio Comparison

The current TXS Sharpe Ratio is 1.08, which is comparable to the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of TXS and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TXS	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.08	0.92	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.46	+0.58

Correlation

The correlation between TXS and ^GSPC is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

TXS vs. ^GSPC - Drawdown Comparison

The maximum TXS drawdown since its inception was -19.69%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for TXS and ^GSPC.

Drawdown Indicators

	TXS	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-19.69%	-56.78%	+37.09%
Max Drawdown (1Y) Largest decline over 1 year	-12.89%	-12.14%	-0.75%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	-4.56%	-5.78%	+1.22%
Average Drawdown Average peak-to-trough decline	-2.95%	-10.75%	+7.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	2.60%	+0.05%

Volatility

TXS vs. ^GSPC - Volatility Comparison

The current volatility for Texas Capital Texas Equity Index ETF (TXS) is 3.80%, while S&P 500 Index (^GSPC) has a volatility of 5.37%. This indicates that TXS experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TXS	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	5.37%	-1.57%
Volatility (6M) Calculated over the trailing 6-month period	9.21%	9.55%	-0.34%
Volatility (1Y) Calculated over the trailing 1-year period	18.07%	18.33%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.25%	16.90%	-0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.25%	18.05%	-1.80%