ETF Evaluator:
Texas Capital Texas Equity Index ETF ()
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(as of Aug 26)
Best Performing in Mid-Cap Blend Over the Last Year
| 58.8% | Castellan Targeted Equity ETF (CTEF) |
| 53.8% | Invesco S&P Spin-Off ETF (CSD) |
| 43.0% | Counterpoint Quantitative Equity ETF (CPAI) |
| 40.8% | Optimize Strategy Index ETF (OPTZ) |
| 37.3% | Tema U.S. Manufacturing & Reshoring ETF (WELD) |
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ETF Details
Texas Capital Texas Equity Index ETF Overview
Texas Capital Texas Equity Index ETF (TXS) is a passively managed U.S. Equity Mid-Cap Blend exchange-traded fund (ETF). Texas Capital Funds Trust launched the ETF in 2023.
The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Texas Capital Texas Equity Index.
The fund seeks to invest in the index components in approximately the same weighting that such components have within the index at the applicable time. The index is a diversified, float-adjusted sector and, market-capitalization weighted index designed to reflect the performance of stocks in companies that are headquartered in Texas, as reflected in relevant federal and state regulatory filings.
About Texas Capital Texas Equity Index ETF (TXS)
There are 1 members of the management team with an average tenure of 2.63 years: Carlos Pena (2023). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: VettaFi US Equity 3000 NR USD index with a weighting of 100% and Texas Capital Texas Equity GR USD index with a weighting of 100%. Texas Capital Texas Equity Index ETF has 229 securities in its portfolio. The top 10 holdings constitute 41.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Texas Capital Texas Equity Index ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Texas Capital Texas Equity Index ETF has 0.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.1% There is 0.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Texas Capital Texas Equity Index ETF has 0.8% of the portfolio in cash.
Assets Under Management
The fund has $37 million in total assets, which is below the $4 billion average for the Mid-Cap Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TXS Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Texas Capital Texas Equity Index ETF expense ratio is average compared to funds in the Mid-Cap Blend category. Texas Capital Texas Equity Index ETF has an expense ratio of 0.49%, which is 9% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Texas Capital Texas Equity Index ETF has a portfolio turnover rate of 18%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 84% for the Mid-Cap Blend category.
Recently, in the month of July 2026, Texas Capital Texas Equity Index ETF returned 2.4%, which earned it a grade of A, as the Mid-Cap Blend category had an average return of -1.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Texas Capital Texas Equity Index ETF has a trailing yield of 0.78%, which is below the 0.85% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Texas Capital Texas Equity Index ETF Grades
Year to date, the ETF has returned 16.2%, 2.2 percentage points better than the category, which translates into a grade of B. The fund has returned 18.9% over the past year (grade of D) and 18.6% over the past three years (grade of A).
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TXS Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TXS Return (NAV) | 2.4% | 4.4% | 18.9% | 18.6% | na | na |
| TXS Return (Price) | 2.6% | 4.3% | 19.3% | 18.7% | na | na |
| NAV +/- Price Return | -0.192% | 0.014% | -0.435% | -0.058% | na | na |
| Mid-Cap Blend Avg | -1.6% | 4.4% | 20.8% | 14.8% | 8.8% | 11.6% |
| TXS Grade (NAV) | A | C | D | A | na | na |
| +/- Category (NAV) | 4.0% | -0.0% | -1.9% | 3.8% | na | na |
| TXS Tax-Cost Ratio | na | na | 0.4% | 0.4% | na | na |
TXS Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TXS Return (NAV) | 16.2% | 10.2% | 24.3% | na | na | na | na | na | na | na | na |
| TXS Return (Price) | 16.2% | 10.1% | 24.5% | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.002% | -0.012% | 0.010% | na | na | na | na | na | na | na | na |
| Mid-Cap Blend Avg | 14.0% | 10.6% | 16.1% | 16.9% | -14.4% | 23.3% | 15.6% | 27.4% | -9.1% | 19.1% | 14.8% |
| TXS Grade (NAV) | B | C | A | na | na | na | na | na | na | na | na |
| +/- Category | 2.2% | -0.4% | 8.2% | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | 0.86 |
| R-Squared: | 63% |
| Standard Deviation: | 14.1% |
| Category Risk Index: | 0.90 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 1.15 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 0.8% |
| Total Assets: | $ 38 Mil |
| Share Class Assets: | $ 38 Mil |
| Turnover: | 18.0% |
| Expense Ratio: | 0.49% |
| Index Fund: | Yes |
| Index Tracked: | VettaFi US Equity 3000 NR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 2.6 years | |||
| Average Tenure: 2.6 years | |||
| Managers (Year): Pena Carlos (2023) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 229 |
| % in Top 10 Holdings: | 41.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.1% |
Portfolio Allocation |
|
| Domestic Stock: | 99.1% |
| Foreign Stock: | 0.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.8% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Texas Capital Funds Trust |
| Phone Number: | 214-210-3092 |
| Website: | |
| Inception Date: | July 12, 2023 |
Expenses and Fees
| Expense Ratio (%): | 0.49% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.45% |
