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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in UPAR Ultra Risk Parity ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
UPAR Ultra Risk Parity ETF (UPAR) has returned 5.18% so far this year and 21.19% over the past 12 months.
UPAR Ultra Risk Parity ETF
- 1D
- 2.67%
- 1M
- -7.86%
- YTD
- 5.18%
- 6M
- 8.43%
- 1Y
- 21.19%
- 3Y*
- 7.85%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
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, your investment would double in approximately 144.4 years.
Historically, 53% of months were positive and 47% 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% | 5.18% | |||||||||
| 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 | -3.05% | -1.86% | -0.92% | -11.37% | -1.59% | -10.53% | 6.87% | -5.19% | -15.57% | 2.56% | 11.59% | -3.23% | -30.30% |
Benchmark Metrics
UPAR Ultra Risk Parity ETF has an annualized alpha of -4.73%, beta of 0.56, and R² of 0.30 versus S&P 500 Index. Calculated based on daily prices since January 05, 2022.
- This ETF participated in 115.33% of S&P 500 Index downside but only 78.38% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.56 may look defensive, but with R² of 0.30 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 0.30 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -4.73%
- Beta
- 0.56
- R²
- 0.30
- Upside Capture
- 78.38%
- Downside Capture
- 115.33%
Expense Ratio
UPAR has an expense ratio of 0.65%, placing it in the medium range.
Return for Risk
Risk / Return Rank
UPAR ranks 71 for risk / return — better than 71% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for UPAR Ultra Risk Parity ETF (UPAR) and compare them to a chosen benchmark (S&P 500 Index).
| UPAR | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.34 | 0.90 | +0.45 |
Sortino ratioReturn per unit of downside risk | 1.82 | 1.39 | +0.43 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.21 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 2.01 | 1.40 | +0.61 |
Martin ratioReturn relative to average drawdown | 7.18 | 6.61 | +0.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore UPAR risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
UPAR Ultra Risk Parity ETF provided a 2.75% 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 | 2.75% | 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 | $0.03 | |||||||||
| 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 39.00%, occurring on Oct 25, 2023. Recovery took 582 trading sessions.
The current UPAR Ultra Risk Parity ETF drawdown is 8.18%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -39% | Jan 13, 2022 | 448 | Oct 25, 2023 | 582 | Feb 23, 2026 | 1030 |
| -11.13% | Mar 3, 2026 | 19 | Mar 27, 2026 | — | — | — |
| -2.22% | Jan 5, 2022 | 4 | Jan 10, 2022 | 2 | Jan 12, 2022 | 6 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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