- Issuer
- Variant Perception
- Inception Date
- Mar 11, 2026
- Category
- Large Cap Blend Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Asset Class
- Equity
Share Price Chart
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Performance
VPX Performance Chart
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Returns By Period
Variant Perception Cycle Aware US Equity ETF
- 1D
- 0.76%
- 1M
- 4.37%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.81%
- 1M
- 2.13%
- 6M
- 8.99%
- YTD
- 10.20%
- 1Y
- 20.44%
- 3Y*
- 19.60%
- 5Y*
- 11.54%
- 10Y*
- 13.44%
VPX Monthly Returns History
Based on dividend-adjusted daily data since Mar 12, 2026, VPX's average daily return is +0.23%, while the average monthly return is +3.94%. At this rate, an investment would double in approximately 1.5 years.
Historically, 80% of months were positive and 20% were negative. The best month was Apr 2026 with a return of +10.9%, while the worst month was Mar 2026 at -2.7%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 1 months.
On a daily basis, VPX closed higher 60% of trading days. The best single day was Mar 31, 2026 with a return of +3.0%, while the worst single day was Jun 5, 2026 at -2.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -2.67% | 10.87% | 8.08% | 2.83% | 0.61% | 20.65% |
Benchmark Metrics
Variant Perception Cycle Aware US Equity ETF has an annualized alpha of 26.72%, beta of 1.04, and R2 of 0.90 versus S&P 500 Index. Calculated based on daily prices since March 12, 2026.
- This ETF captured 129.17% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -2.04%) - a profile typical of hedging or uncorrelated assets.
- This ETF generated an annualized alpha of 26.72% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- With beta of 1.04 and R2 of 0.90, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 26.72%
- Beta
- 1.04
- R²
- 0.90
- Upside Capture
- 129.17%
- Downside Capture
- -2.04%
Expense Ratio
VPX has an expense ratio of 0.75%, placing it in the medium range.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Variant Perception Cycle Aware US Equity ETF (VPX) 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.
| VPX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.26 | — |
| Martin ratioReturn relative to average drawdown | — | 9.80 | — |
Dividends
Dividend History
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 Variant Perception Cycle Aware US Equity 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 Variant Perception Cycle Aware US Equity ETF was 5.91%, occurring on Mar 30, 2026. Recovery took 6 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -5.91%Mar 2026 | 12d | 9d | 21dMar 2026 - Apr 2026 |
2026 pullback2026 | -3.62%Jun 2026 | 5d | 5d | 10dJun 2026 - Jun 2026 |
2026 pullback2026 | -2.55%May 2026 | 4d | 3d | 7dMay 2026 - May 2026 |
2026 pullback2026 | -2.03%Jun 2026 | 1d | 6d | 7dJun 2026 - Jun 2026 |
2026 pullback2026 | -1.39%Mar 2026 | 1d | 4d | 5dMar 2026 - Mar 2026 |
Drawdown Indicators
| VPX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.91% | -56.78% | +50.87% |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
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 | 0.00% | -0.87% | +0.87% |
Average DrawdownAverage peak-to-trough decline | -0.90% | -10.71% | +9.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.09% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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