TXS vs. IMCB

Last updated Jun 5, 2026

TXS (Texas Capital Texas Equity Index ETF) and IMCB (iShares Morningstar Mid-Cap ETF) are both Mid Cap Blend Equities funds - TXS tracks the Texas Capital Texas Equity Index - Benchmark TR Gross while IMCB tracks the IMCB-US - Morningstar U.S. Mid Cap Index. Both are passively managed. Over the past year, TXS returned 20.33% vs 24.38% for IMCB. Their correlation of 0.88 suggests significant overlap in exposure. TXS charges 0.49%/yr vs 0.04%/yr for IMCB.

Performance

TXS vs. IMCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Texas Capital Texas Equity Index ETF (TXS) and iShares Morningstar Mid-Cap ETF (IMCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TXS achieves a 13.49% return, which is significantly lower than IMCB's 15.52% return.

TXS

• 1D: 0.40%
• 1M: 1.36%
• YTD: 13.49%
• 6M: 10.60%
• 1Y: 20.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IMCB

• 1D: 0.70%
• 1M: 4.83%
• YTD: 15.52%
• 6M: 15.21%
• 1Y: 24.38%
• 3Y*: 18.27%
• 5Y*: 8.96%
• 10Y*: 11.36%

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

TXS vs. IMCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TXS Texas Capital Texas Equity Index ETF	13.49%	10.31%	24.29%	5.64%
IMCB iShares Morningstar Mid-Cap ETF	15.52%	10.25%	15.10%	4.19%

Correlation

The correlation between TXS and IMCB is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jul 14, 2023	0.88

The correlation between TXS and IMCB has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.

TXS vs. IMCB - Sectors Allocation Comparison

Sectors	TXS	IMCB
Energy	21.1%	7.4%
Consumer Cyclical	17.6%	9.0%
Industrials	15.0%	19.0%
Real Estate	12.7%	4.3%
Technology	10.4%	21.3%
Healthcare	9.6%	7.9%
Financial Services	7.3%	12.0%
Communication Services	2.5%	2.3%
Utilities	1.8%	6.2%
Consumer Defensive	1.8%	5.1%
Basic Materials	0.4%	5.3%

Return for Risk

TXS vs. IMCB — Risk / Return Rank

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

TXS

TXS Risk / Return Rank: 56
TXS Sharpe Ratio Rank: 53
TXS Sortino Ratio Rank: 53
TXS Omega Ratio Rank: 50
TXS Calmar Ratio Rank: 64
TXS Martin Ratio Rank: 61

IMCB

IMCB Risk / Return Rank: 60
IMCB Sharpe Ratio Rank: 58
IMCB Sortino Ratio Rank: 58
IMCB Omega Ratio Rank: 55
IMCB Calmar Ratio Rank: 62
IMCB Martin Ratio Rank: 67

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. IMCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Texas Capital Texas Equity Index ETF (TXS) and iShares Morningstar Mid-Cap ETF (IMCB). 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	IMCB	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.92	-0.14
Sortino ratio: Return per unit of downside risk	2.52	2.72	-0.21
Omega ratio: Gain probability vs. loss probability	1.31	1.34	-0.02
Calmar ratio: Return relative to maximum drawdown	3.12	3.04	+0.08
Martin ratio: Return relative to average drawdown	10.73	12.06	-1.33
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. IMCB - Sharpe Ratio Comparison

The current TXS Sharpe Ratio is 1.78, which is comparable to the IMCB Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of TXS and IMCB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TXS	IMCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	1.92	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.51	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.19	0.51	+0.68

Drawdowns

TXS vs. IMCB - Drawdown Comparison

The maximum TXS drawdown since its inception was -19.69%, smaller than the maximum IMCB drawdown of -58.80%. Use the drawdown chart below to compare losses from any high point for TXS and IMCB.

Drawdown Indicators

	TXS	IMCB	Difference
Max Drawdown Largest peak-to-trough decline	-19.69%	-58.80%	+39.11%
Max Drawdown (1Y) Largest decline over 1 year	-6.54%	-8.05%	+1.51%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.80%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.15%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.99%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.84%	-7.73%	+4.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	2.03%	-0.13%

Volatility

TXS vs. IMCB - Volatility Comparison

The current volatility for Texas Capital Texas Equity Index ETF (TXS) is 2.16%, while iShares Morningstar Mid-Cap ETF (IMCB) has a volatility of 3.24%. This indicates that TXS experiences smaller price fluctuations and is considered to be less risky than IMCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TXS	IMCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.16%	3.24%	-1.08%
Volatility (6M) Calculated over the trailing 6-month period	7.96%	9.60%	-1.64%
Volatility (1Y) Calculated over the trailing 1-year period	11.50%	12.74%	-1.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.89%	17.57%	-1.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.89%	19.64%	-3.75%

TXS vs. IMCB - Expense Ratio Comparison

TXS has a 0.49% expense ratio, which is higher than IMCB's 0.04% expense ratio.

Dividends

TXS vs. IMCB - Dividend Comparison

TXS's dividend yield for the trailing twelve months is around 0.74%, less than IMCB's 1.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMCB iShares Morningstar Mid-Cap ETF	1.21%	1.42%	1.43%	1.55%	1.70%	1.08%	1.12%	1.32%	1.80%	1.31%	1.79%	1.47%
TXS Texas Capital Texas Equity Index ETF	0.74%	0.82%	0.86%	0.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TXS and IMCB in my portfolio?

TXS and IMCB have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TXS or IMCB?

IMCB has higher volatility (3.24%) compared to TXS (2.16%). In terms of maximum drawdown, TXS dropped -19.69% vs IMCB's -58.80%.

Which ETF is better, TXS or IMCB?

On 1-year performance, IMCB leads with 24.38% vs 20.33% for TXS. On fees, IMCB is cheaper at 0.04% per year. On volatility, TXS has been the lower-risk option at 2.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TXS or IMCB?

Over the 1-year period, IMCB has performed better with a 24.38% return vs 20.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TXS or IMCB?

IMCB is cheaper with a 0.04% expense ratio, compared with 0.49% for TXS.

Which ETF pays a higher dividend yield, TXS or IMCB?

IMCB has the higher dividend yield at 1.21%, compared with 0.74% for TXS.

What is the main difference between TXS and IMCB?

TXS tracks Texas Capital Texas Equity Index - Benchmark TR Gross, while IMCB tracks IMCB-US - Morningstar U.S. Mid Cap Index. They also come from different issuers: Texas Capital and iShares. Their fees differ too: 0.49% for TXS and 0.04% for IMCB.

Which has better risk-adjusted returns?

IMCB currently has the higher Sharpe Ratio (1.92 vs 1.78), 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.