- Issuer
- Cullen
- Inception Date
- Mar 6, 2024
- Category
- Derivative Income
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
- Assets Under Management
- $35M
Highlights
- Avg. Volume (1M)
- 5K
- Avg. Volume Value (1M)
- $147.79K
Share Price Chart
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Performance
DIVP Performance Chart
Cullen Enhanced Equity Income ETF (DIVP) is up 12.0% since the beginning of the year. DIVP is currently trading at $27 per share.
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Returns By Period
Cullen Enhanced Equity Income ETF (DIVP) has returned 11.96% so far this year and 16.90% over the past 12 months.
Cullen Enhanced Equity Income ETF
- 1D
- 0.00%
- 1M
- 0.66%
- 6M
- 7.47%
- YTD
- 11.96%
- 1Y
- 16.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.46%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
DIVP Monthly Returns History
Based on dividend-adjusted daily data since Mar 7, 2024, DIVP's average daily return is +0.04%, while the average monthly return is +0.87%. At this rate, an investment would double in approximately 6.7 years.
Historically, 69% of months were positive and 31% were negative. The best month was Jul 2024 with a return of +4.9%, while the worst month was Dec 2024 at -6.5%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 2 months.
On a daily basis, DIVP closed higher 53% of trading days. The best single day was Apr 9, 2025 with a return of +5.3%, while the worst single day was Apr 4, 2025 at -5.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.18% | 3.69% | -3.84% | 2.95% | 1.11% | 1.06% | 2.45% | 11.96% | |||||
| 2025 | 3.00% | 2.49% | 0.34% | -5.01% | 0.92% | 2.95% | -0.73% | 3.28% | -1.58% | -2.19% | 3.23% | 1.19% | 7.76% |
| 2024 | 3.19% | -2.27% | 1.26% | -1.26% | 4.91% | 2.76% | 1.25% | -0.78% | 3.05% | -6.51% | 5.21% |
Benchmark Metrics
Cullen Enhanced Equity Income ETF has an annualized alpha of 3.25%, beta of 0.43, and R2 of 0.33 versus S&P 500 Index. Calculated based on daily prices since March 07, 2024.
- This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (46.25%) than losses (36.35%) - typical of diversified or defensive assets.
- Beta of 0.43 may look defensive, but with R2 of 0.33 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.33 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 3.25%
- Beta
- 0.43
- R²
- 0.33
- Upside Capture
- 46.25%
- Downside Capture
- 36.35%
Expense Ratio
DIVP has an expense ratio of 0.55%, placing it in the medium range.
Return for Risk
Risk / Return Rank
DIVP ranks 66 for risk / return — above 66% of ETFs peers on PortfoliosLab. Its historical combined result is above most peers.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Cullen Enhanced Equity Income ETF (DIVP) and compare them to S&P 500 Index.
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.
| DIVP | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.25 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | 2.00 | +0.60 |
| Martin ratioReturn relative to average drawdown | 6.87 | 8.49 | -1.62 |
Dividends
Dividend History
Cullen Enhanced Equity Income ETF provided a 5.83% dividend yield over the last twelve months, with an annual payout of $1.60 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $1.60 | $1.54 | $1.48 |
Dividend yield | 5.83% | 6.06% | 5.92% |
Monthly Dividends
The table displays the monthly dividend distributions for Cullen Enhanced Equity Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.12 | $0.11 | $0.19 | $0.13 | $0.10 | $0.19 | $0.13 | $0.97 | |||||
| 2025 | $0.14 | $0.09 | $0.20 | $0.13 | $0.11 | $0.10 | $0.14 | $0.16 | $0.10 | $0.14 | $0.09 | $0.13 | $1.54 |
| 2024 | $0.06 | $0.12 | $0.12 | $0.12 | $0.15 | $0.17 | $0.16 | $0.12 | $0.13 | $0.32 | $1.48 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Cullen Enhanced Equity Income ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Cullen Enhanced Equity Income ETF was 12.26%, occurring on Apr 8, 2025. Recovery took 71 trading sessions.
The current Cullen Enhanced Equity Income ETF drawdown is 1.64%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-12.26%Apr 2025 | 4mo 7d | 3mo 15d | 7mo 22dDec 2024 - Jul 2025 | 2025 selloff2025 |
-6.28%Mar 2026 | 1mo 6d | 2mo 3d | 3mo 9dFeb 2026 - May 2026 | — |
-5.50%Nov 2025 | 3mo 13d | 1mo 8d | 4mo 21dJul 2025 - Dec 2025 | — |
-4.43%Jun 2024 | 25d | 1mo 3d | 1mo 28dMay 2024 - Jul 2024 | — |
-3.96%Apr 2024 | 15d | 24d | 1mo 9dApr 2024 - May 2024 | — |
Drawdown Indicators
| DIVP | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.26% | -56.78% | +44.52% |
Max Drawdown (1Y)Largest decline over 1 year | -6.28% | -9.10% | +2.82% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.64% | -1.58% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -10.70% | +8.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 2.14% | +0.23% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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