Tidal ETF (NRSH) Performance
NRSH total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +25.1% since Dec 31, 2025
- 1 year
- +20.7% total return
- Since first price
- +44.0% since 2023
NRSH trailing returns vs SPY, QQQ, AGG
| Period | NRSH total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −5.9% | −5.9% | −1.0% | −5.0% | +0.9% |
| 3 months | −9.4% | −9.4% | +3.2% | +1.9% | −0.4% |
| 6 months | 0.0% | 0.0% | +7.8% | +8.4% | −1.5% |
| YTD | +25.1% | +25.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +20.7% | +20.2% | +14.4% | +15.9% | −1.1% |
| Since inceptionNov 30, 2023 | +44.0% | +41.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: NRSH vs SPY
From Nov 30, 2023: NRSH grew to $14,403, SPY to $17,266.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
NRSH returns by calendar year
1 of 2 full years positive. Best 2025 (+12.9%), worst 2024 (−6.2%). 2026 is year to date.
NRSH annual returns table
| Year | NRSH | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +25.1% | −16.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +12.9% | −16.8% | +17.7% | +20.8% | +7.2% |
| 2024 | −6.2% | −13.6% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
NRSH largest drawdowns
Now 16.0% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Nov 6, 2024 | −24.0% | Apr 8, 2025 | Oct 20, 2025 | 5 months | 11 months |
| Jun 30, 2026 | −16.2% | Oct 22, 2026 | not yet | 4 months | 4 months so far |
| Oct 31, 2025 | −10.9% | Nov 20, 2025 | Jan 15, 2026 | 20 days | 2 months |
| Dec 27, 2023 | −10.0% | Apr 18, 2024 | Aug 23, 2024 | 4 months | 8 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
NRSH risk statistics
| Statistic | Since 2023 |
|---|---|
| Annualized return | +15.7% |
| Volatility (annualized) | 22.9% |
| Sharpe ratio | 0.56 |
| Sortino ratio | 0.99 |
| Best month | +22.1% |
| Worst month | −12.3% |
| Best 12 months | +58.7% |
| Worst 12 months | −8.0% |
| Positive months | 59% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
NRSH rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 24 | −8.0% | +13.0% | +58.7% | 79% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
NRSH performance overview
Tidal ETF (NRSH) returned +20.7% over the past year, with distributions reinvested. Since its first recorded price on Nov 30, 2023 it has returned +44.0%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −24.0%, from Nov 6, 2024 to Apr 8, 2025, and it took 6 months to get back to the old high. Volatility has been 22.9% a year.
Related: NRSH chart, NRSH holdings, NRSH dividends, NRSH valuation. See the NRSH overview for the latest quote and fund facts.
NRSH performance FAQ
What is the NRSH return over the past year?
NRSH returned +20.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 20.2%.
How much would $10,000 invested in NRSH be worth?
$10,000 invested in NRSH at its first recorded close on November 30, 2023 would be worth about $14,403 on October 23, 2026 with distributions reinvested.
What was the worst year for NRSH?
The worst calendar year was 2024, with a total return of −6.2%. The best was 2025 at +12.9%.
What is the biggest drawdown of NRSH?
The largest peak-to-trough decline was −24.0% between November 6, 2024 and April 8, 2025. It recovered to the old high on October 20, 2025, 6 months after the bottom.
How volatile is NRSH?
Over the past history NRSH had an annualized volatility of 22.9% and a Sharpe ratio of 0.56 (excess return over 1–3 month T-bills per unit of risk).