TEXX vs BZQ

Comparison between HORIZON KINETICS TEXAS ETF (TEXX, ETF) and ProShares UltraShort MSCI Brazil Capped ETF -2x Shares (BZQ, ETF).

5-Year PerformanceTEXX has outperformed BZQ, delivering a return of +164.7% compared to -21.3%

TEXX vs BZQ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	TEXX(ETF)	BZQ(ETF)
Net Assets	$2.90M	$3M
Expense Ratio	0.85%	N/A
Max Drawdown	99.98%	99.85%
Sharpe Ratio	1.00	-1.08
5Y Beta	0.10	-1.42
P/E Ratio	26.25	N/A
Forward P/E	14.20	N/A
5Y Dividends CAGR	N/A	47.67%
5Y EPS CAGR	12.63%	N/A
P/S Ratio	1.80	N/A
P/B Ratio	2.82	N/A

Net Assets

TEXX

$2.90M

Winner

BZQ

$3M

Expense Ratio

TEXX

0.85%

BZQ

N/A

Max Drawdown

TEXX

99.98%

Winner

BZQ

99.85%

Sharpe Ratio

Winner

TEXX

1.00

BZQ

-1.08

5Y Beta

TEXX

0.10

Winner

BZQ

-1.42

P/E Ratio

TEXX

26.25

BZQ

N/A

Forward P/E

TEXX

14.20

BZQ

N/A

5Y Dividends CAGR

TEXX

N/A

BZQ

47.67%

5Y EPS CAGR

TEXX

12.63%

BZQ

N/A

P/S Ratio

TEXX

1.80

BZQ

N/A

P/B Ratio

TEXX

2.82

BZQ

N/A

TEXX vs BZQ - Historical Returns

Returns include dividend reinvestment.

Period	TEXX	BZQ
1 month	-0.98%	+35.24%
3 months	+2.41%	+9.88%
6 months	N/A	-20.48%
1 year	N/A	-46.03%
5 years(CAGR)	+164.68%	-21.28%
10 years(CAGR)	+179.24%	-36.62%
Max(CAGR)	+9.84%	-28.87%

TEXX

-0.98%

Winner

BZQ

+35.24%

TEXX

+2.41%

Winner

BZQ

+9.88%

TEXX

N/A

BZQ

-20.48%

TEXX

N/A

BZQ

-46.03%

5Y(CAGR)

Winner

TEXX

+164.68%

BZQ

-21.28%

10Y(CAGR)

Winner

TEXX

+179.24%

BZQ

-36.62%

Max(CAGR)

Winner

TEXX

+9.84%

BZQ

-28.87%

TEXX vs BZQ - Annual Returns (2009 - 2026)

Returns include dividend reinvestment.

Year	TEXX	BZQ
2026	+12.44%	-16.36%
2025	N/A	-56.98%
2024	N/A	+91.99%
2023	N/A	-55.70%
2022	N/A	-46.92%
2021	N/A	+3.80%
2020	N/A	-50.89%
2019	N/A	-40.57%
2018	N/A	-16.40%
2017	+0.00%	-46.15%
2016	+400.00%	-79.11%
2015	-75.00%	+85.40%
2014	-42.86%	-3.87%
2013	+16.67%	+30.88%
2012	-23.08%	-8.58%
2011	-96.29%	+28.82%
2010	N/A	-30.44%
2009	+0.00%	-60.37%

TEXX vs BZQ Drawdown Comparison

The maximum drawdown for TEXX was -99.98%, occurring on Dec 8, 2015. Recovery took 1562 trading sessions.

The maximum drawdown for BZQ was -99.82%, occurring on Apr 14, 2026. This drawdown has not yet recovered.

The current TEXX drawdown is -3.28%. The current BZQ drawdown is -99.73%.

Rank	TEXX	BZQ
#1	-99.98% Oct 30, 2009 - Jan 22, 2026	-99.82% Jul 8, 2009 - Apr 14, 2026
#2	-4.97% Apr 30, 2026 - May 18, 2026	-15.19% Jun 22, 2009 - Jul 8, 2009
#3	-4.30% Mar 27, 2026 - Apr 30, 2026	N/A
#4	-3.84% May 22, 2026 - May 29, 2026	N/A
#5	-3.36% Mar 2, 2026 - Mar 27, 2026	N/A
#6	-1.79% Jan 29, 2026 - Feb 4, 2026	N/A
#7	-1.24% Feb 11, 2026 - Feb 13, 2026	N/A
#8	-0.99% Feb 4, 2026 - Feb 6, 2026	N/A
#9	-0.72% Feb 13, 2026 - Feb 19, 2026	N/A
#10	-0.70% Jan 23, 2026 - Jan 28, 2026	N/A
#11	-0.53% Feb 20, 2026 - Feb 24, 2026	N/A
#12	-0.52% Feb 24, 2026 - Feb 26, 2026	N/A

Correlation

Correlation between TEXX and BZQ is -0.51 which considered as a moderate negative correlation - the stocks show some tendency to move in opposite directions.

-0.51

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