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TXS ETF — Holdings & Analysis

The Texas Capital Texas Equity Index ETF (TXS) is an equity ETF with $0.03 billion in assets under management and an expense ratio of 0.49%. TXS aims to capture the performance of companies that significantly contribute to the Texas economy. TXS differentiates itself by focusing on companies with strong ties to Texas, potentially offering exposure to the state's unique economic advantages, as perceived by the fund advisor, such as regulatory benefits and a skilled workforce.

Texas Capital Texas Equity Index ETF (TXS) ETF — Price, Holdings & Analysis

The Texas Capital Texas Equity Index ETF (TXS) is an equity ETF with $0.03 billion in assets under management and an expense ratio of 0.49%. TXS aims to capture the performance of companies that significantly contribute to the Texas economy. TXS differentiates itself by focusing on companies with strong ties to Texas, potentially offering exposure to the state's unique economic advantages, as perceived by the fund advisor, such as regulatory benefits and a skilled workforce.

ETF Overview

TXS tracks an index composed of companies that have significant contributions to the economy of Texas. The fund adviser believes that companies headquartered in Texas enjoy certain economic, regulatory, taxation, workforce and other benefits relative to companies headquartered in other states. Initially, all eligible securities from the investable equity universe that meet certain size and liquidity requirements are selected as index constituents. Component sectors in the index are weighted based on their industry contributions to Texass GDP, as reported for the private sector by the US Bureau of Economic Analysis. Companies within each sector are then weighted based on their market-cap, with a minimum cap of 0.05% and maximum cap of 10% per constituent. The fund does not limit its investment to a certain market-cap bracket. TXS may concentrate its investment in a particular industry or group of industries to the extent that the index is concentrated.
The Texas Capital Texas Equity Index ETF (TXS) seeks to track the performance of companies that have significant contributions to the economy of Texas. TXS selects eligible securities from the investable equity universe that meet certain size and liquidity requirements. The fund weights component sectors based on their industry contributions to Texas's GDP, as reported for the private sector by the US Bureau of Economic Analysis. Within each sector, companies are weighted based on their market capitalization, with individual holdings capped at 10% and floored at 0.05%. The fund's top holdings include McKesson Corp (5.87%), Tenet Healthcare Corp (4.75%), and Tesla Inc (4.54%). TXS provides exposure to sectors like Energy (21.8%), Consumer Cyclical (17.5%), and Industrials (14.6%). This ETF may appeal to investors seeking to capitalize on the perceived economic benefits of companies operating in Texas.

Risk Metrics

TXS carries several risks inherent to its investment strategy. The fund's focus on Texas-based companies introduces geographic concentration risk, as the fund's performance is closely tied to the economic health of a single state. Sector concentration is also a factor, with significant allocations to Energy (21.8%), Consumer Cyclical (17.5%), and Industrials (14.6%), meaning that sector-specific downturns could disproportionately impact TXS's returns. With a beta of 0.00, TXS has not demonstrated volatility relative to the market. The expense ratio of 0.49% will create a drag on performance over time, especially when compared to lower cost ETFs. these may be worth researching factors when evaluating TXS for their portfolios. Past performance does not guarantee future results.

Expense Ratio

0.49%

Top Holdings

Sector Allocation

  • Energy: 21.8%
  • Consumer Cyclical: 17.5%
  • Industrials: 14.6%
  • Healthcare: 12.7%
  • Real Estate: 12.6%
  • Technology: 7.7%
  • Financial Services: 6.6%
  • Consumer Defensive: 2.4%
  • Communication Services: 2.0%
  • Utilities: 1.8%
  • Basic Materials: 0.4%
  • United States: 99.7%
  • Other: 0.3%

Dividend Yield

0.00%
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Risk Metrics

  • Beta: 0.00

Questions & Answers

What is TXS and what does it track?

TXS, the Texas Capital Texas Equity Index ETF, is designed to track the performance of companies that significantly contribute to the economy of Texas. The fund selects companies that meet certain size and liquidity requirements and weights them based on their sector's contribution to the state's GDP. The ETF's investment strategy focuses on companies that the fund advisor believes benefit from operating in Texas, such as favorable regulations and a skilled workforce. TXS offers investors a targeted approach to investing in the Texas economy through publicly traded companies.

What is the expense ratio for TXS?

The expense ratio for TXS is 0.49%. This means that for every $10,000 invested in the fund, $49 is deducted annually to cover operating expenses. While not exceptionally high, the 0.49% expense ratio is higher than some broad market equity ETFs, which can have expense ratios below 0.10%. the may be worth researching expense ratio as one factor when evaluating the overall cost and potential returns of TXS compared to other investment options.

What are the top holdings in TXS?

The top holdings in TXS provide insight into the fund's investment focus. As of 2026-03-15, the top three holdings are McKesson Corp (5.87%), Tenet Healthcare Corp (4.75%), and Tesla Inc (4.54%). Digital Realty Trust Inc (4.27%) and Charles Schwab Corp (4.20%) also represent significant portions of the fund's portfolio. These holdings reflect the fund's exposure to various sectors within the Texas economy, including healthcare, technology, and real estate.

Is TXS a good long-term investment?

Evaluating whether TXS is a good long-term investment requires careful consideration of its investment strategy, risk profile, and expense ratio. The fund's focus on the Texas economy could provide potential benefits if the state experiences strong economic growth. However, it also introduces geographic concentration risk. The expense ratio of 0.49% will impact long-term returns. Investors should weigh these factors against their investment goals and risk tolerance. Past performance does not guarantee future results.

How does TXS compare to similar ETFs?

TXS differentiates itself through its focus on companies contributing to the Texas economy. While many broad market equity ETFs exist, TXS offers a more targeted approach. Its expense ratio of 0.49% is higher than some broad market ETFs but may be justified if the fund's strategy delivers superior returns. With AUM of $0.03 billion, TXS is relatively small compared to established broad market ETFs. these may be worth researching factors when comparing TXS to other ETFs.

Does TXS pay dividends?

As of 2026-03-15, TXS has a dividend yield of 0.00%. This indicates that the fund is not currently distributing any dividends to its shareholders. Investors seeking income-generating investments may want to consider other ETFs with higher dividend yields. However, the lack of dividends does not necessarily detract from the fund's potential for capital appreciation.