- ISIN
- US8863645953
- Issuer
- RPAR
- Inception Date
- Jan 3, 2022
- Region
- Global (Broad)
- Category
- Diversified Portfolio
- Leveraged
- 1x (No leverage)
- Index Tracked
- NONE
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $63M
Share Price Chart
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Performance
UPAR Performance Chart
UPAR Ultra Risk Parity ETF (UPAR) is up 6.3% since the beginning of the year. UPAR is currently trading at $16 per share.
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Returns By Period
UPAR Ultra Risk Parity ETF (UPAR) has returned 6.27% so far this year and 21.58% over the past 12 months.
UPAR Ultra Risk Parity ETF
- 1D
- -1.50%
- 1M
- -1.15%
- YTD
- 6.27%
- 6M
- 5.99%
- 1Y
- 21.58%
- 3Y*
- 9.14%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
UPAR Monthly Returns History
Based on dividend-adjusted daily data since Jan 4, 2022, UPAR's average daily return is 0.00%, while the average monthly return is +0.04%. At this rate, an investment would double in approximately 144.4 years.
Historically, 54% of months were positive and 46% were negative. The best month was Nov 2022 with a return of +11.6%, while the worst month was Sep 2022 at -15.6%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 6 months.
On a daily basis, UPAR closed higher 51% of trading days. The best single day was Nov 10, 2022 with a return of +8.7%, while the worst single day was Sep 30, 2022 at -5.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.75% | 7.93% | -7.86% | 2.73% | 1.34% | -2.95% | 6.27% | ||||||
| 2025 | 2.90% | 4.63% | -0.14% | -1.92% | 0.45% | 4.76% | -0.71% | 3.04% | 5.86% | 2.79% | 1.02% | -0.71% | 23.87% |
| 2024 | -3.05% | -0.33% | 4.76% | -5.52% | 4.53% | 0.58% | 3.82% | 2.29% | 3.96% | -5.68% | 1.06% | -7.65% | -2.26% |
| 2023 | 8.86% | -6.34% | 5.27% | 0.07% | -4.38% | 2.74% | 0.95% | -4.77% | -8.43% | -5.46% | 10.83% | 8.66% | 5.73% |
| 2022 | -4.01% | -1.86% | -0.92% | -11.37% | -1.59% | -10.53% | 6.87% | -5.19% | -15.57% | 2.56% | 11.59% | -3.23% | -30.99% |
Benchmark Metrics
UPAR Ultra Risk Parity ETF has an annualized alpha of -6.05%, beta of 0.58, and R2 of 0.31 versus S&P 500 Index. Calculated based on daily prices since January 04, 2022.
- This ETF participated in 115.77% of S&P 500 Index downside but only 70.86% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.58 may look defensive, but with R2 of 0.31 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 0.31 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
- -6.05%
- Beta
- 0.58
- R²
- 0.31
- Upside Capture
- 70.86%
- Downside Capture
- 115.77%
Expense Ratio
UPAR has an expense ratio of 0.65%, placing it in the medium range.
Return for Risk
Risk / Return Rank
UPAR ranks 43 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for UPAR Ultra Risk Parity ETF (UPAR) 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.
| UPAR | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.32 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 2.46 | -0.51 |
| Martin ratioReturn relative to average drawdown | 5.94 | 10.92 | -4.98 |
Dividends
Dividend History
UPAR Ultra Risk Parity ETF provided a 2.72% dividend yield over the last twelve months, with an annual payout of $0.45 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.45 | $0.51 | $0.43 | $0.42 | $0.63 |
Dividend yield | 2.72% | 3.28% | 3.32% | 3.04% | 4.73% |
Monthly Dividends
The table displays the monthly dividend distributions for UPAR Ultra Risk Parity 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 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.00 | $0.03 | ||||||
| 2025 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.05 | $0.51 |
| 2024 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.13 | $0.43 |
| 2023 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.09 | $0.42 |
| 2022 | $0.10 | $0.00 | $0.00 | $0.20 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.09 | $0.63 |
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 UPAR Ultra Risk Parity 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 UPAR Ultra Risk Parity ETF was 39.54%, occurring on Oct 25, 2023. Recovery took 584 trading sessions.
The current UPAR Ultra Risk Parity ETF drawdown is 7.23%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 bear market2023 | -39.54%Oct 2023 | 1y 9mo | 2y 4mo | 4y 1moJan 2022 - Feb 2026 |
2026 correction2026 | -11.13%Mar 2026 | 24d | — | 3mo 23dMar 2026 - now |
Drawdown Indicators
| UPAR | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.54% | -56.78% | +17.24% |
Max Drawdown (1Y)Largest decline over 1 year | -11.13% | -9.10% | -2.03% |
Max Drawdown (3Y)Largest decline over 3 years | -18.73% | -18.90% | +0.17% |
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 | -7.23% | -3.21% | -4.02% |
Average DrawdownAverage peak-to-trough decline | -22.24% | -10.71% | -11.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 2.04% | +1.60% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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