VPX vs. ESN

Last updated Jul 30, 2026

VPX (Variant Perception Cycle Aware US Equity ETF) and ESN (Essential 40 Stock ETF) are both Large Cap Blend Equities funds. VPX is actively managed, while ESN is passively managed. Their 0.71 correlation means they have sometimes moved together and sometimes differently. VPX charges 0.75%/yr vs 0.70%/yr for ESN.

Performance

VPX vs. ESN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Variant Perception Cycle Aware US Equity ETF (VPX) and Essential 40 Stock ETF (ESN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

VPX

• 1D: -1.52%
• 1M: -0.60%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

ESN

• 1D: -1.25%
• 1M: 0.34%
• 6M: 10.80%
• YTD: 15.79%
• 1Y: 24.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.07%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ESN Essential 40 Stock ETF	$2.16M	$1.63M	$1.63M
VPX Variant Perception Cycle Aware US Equity ETF	$182.48K	$205.20K	$111.23K

VPX vs. ESN - Yearly Performance Comparison

	2026 (YTD)
VPX Variant Perception Cycle Aware US Equity ETF	18.21%
ESN Essential 40 Stock ETF	10.44%

Correlation

The correlation between VPX and ESN is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 12, 2026	0.71

Return for Risk

VPX vs. ESN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VPX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

ESN

ESN Risk / Return Rank: 92
ESN Sharpe Ratio Rank: 93
ESN Sortino Ratio Rank: 93
ESN Omega Ratio Rank: 91
ESN Calmar Ratio Rank: 90
ESN Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VPX vs. ESN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Variant Perception Cycle Aware US Equity ETF (VPX) and Essential 40 Stock ETF (ESN). 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.

	VPX	ESN	Difference
Sharpe ratio: Return per unit of total volatility	—	2.47	—
Sortino ratio: Return per unit of downside risk	—	3.42	—
Omega ratio: Gain probability vs. loss probability	—	1.43	—
Calmar ratio: Return relative to maximum drawdown	—	3.84	—
Martin ratio: Return relative to average drawdown	—	15.40	—

Drawdowns

VPX vs. ESN - Drawdown Comparison

The maximum VPX drawdown since its inception was -5.91%, smaller than the maximum ESN drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for VPX and ESN.

Drawdown Indicators

	VPX	ESN	Difference
Max Drawdown Largest peak-to-trough decline	-5.91%	-13.60%	+7.69%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.42%	—
Current Drawdown Current decline from peak	-2.39%	-1.25%	-1.14%
Average Drawdown Average peak-to-trough decline	-0.87%	-1.81%	+0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.60%	—

Volatility

Volatility by Period

	VPX	ESN	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.63%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.51%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.79%	10.03%	+5.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.79%	13.07%	+2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.79%	13.07%	+2.72%

VPX vs. ESN - Expense Ratio Comparison

VPX has a 0.75% expense ratio, which is higher than ESN's 0.70% expense ratio.

Dividends

VPX vs. ESN - Dividend Comparison

VPX has not paid dividends to shareholders, while ESN's dividend yield for the trailing twelve months is around 0.79%.

Position	TTM	2025	2024
ESN Essential 40 Stock ETF	0.79%	0.91%	0.76%
VPX Variant Perception Cycle Aware US Equity ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VPX and ESN in my portfolio?

VPX and ESN have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VPX or ESN?

On fees, ESN is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VPX or ESN?

ESN is cheaper with a 0.70% expense ratio, compared with 0.75% for VPX.

Which ETF pays a higher dividend yield, VPX or ESN?

ESN has the higher dividend yield at 0.79%, compared with 0.00% for VPX.

What is the main difference between VPX and ESN?

They also come from different issuers: Variant Perception and KKM Financial. Their fees differ too: 0.75% for VPX and 0.70% for ESN.