- Issuer
- WarCap
- Inception Date
- Sep 11, 2025
- Category
- Large Cap Blend Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
Share Price Chart
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Performance
WCAP Performance Chart
WarCap Unconstrained Equity ETF (WCAP) is down 5.7% since the beginning of the year. WCAP is currently trading at $9 per share.
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Returns By Period
WarCap Unconstrained Equity ETF
- 1D
- 1.41%
- 1M
- -0.70%
- 6M
- -6.36%
- YTD
- -5.71%
- 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%
WCAP Monthly Returns History
Based on dividend-adjusted daily data since Sep 11, 2025, WCAP's average daily return is -0.03%, while the average monthly return is -0.66%.
Historically, 36% of months were positive and 64% were negative. The best month was May 2026 with a return of +6.7%, while the worst month was Feb 2026 at -5.7%. The longest winning streak lasted 3 consecutive months, and the longest losing streak was 5 months.
On a daily basis, WCAP closed higher 52% of trading days. The best single day was Apr 8, 2026 with a return of +2.4%, while the worst single day was Feb 3, 2026 at -4.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -2.77% | -5.66% | -4.53% | 3.83% | 6.70% | 0.62% | -3.41% | -5.71% | |||||
| 2025 | -1.01% | 0.06% | -0.55% | -0.55% | -2.03% |
Benchmark Metrics
WarCap Unconstrained Equity ETF has an annualized alpha of -23.15%, beta of 0.98, and R2 of 0.63 versus S&P 500 Index. Calculated based on daily prices since September 11, 2025.
- This ETF participated in 137.60% of S&P 500 Index downside but only 9.61% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -23.15% versus S&P 500 Index - delivering less than market exposure alone would predict.
- With beta of 0.98 and R2 of 0.63, 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
- -23.15%
- Beta
- 0.98
- R²
- 0.63
- Upside Capture
- 9.61%
- Downside Capture
- 137.60%
Expense Ratio
WCAP has a high expense ratio of 1.00%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for WarCap Unconstrained Equity ETF (WCAP) 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.
| WCAP | 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
WarCap Unconstrained Equity ETF provided a 0.04% dividend yield over the last twelve months, with an annual payout of $0.00 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $0.00 | $0.00 |
Dividend yield | 0.04% | 0.04% |
Monthly Dividends
The table displays the monthly dividend distributions for WarCap Unconstrained Equity 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||
| 2025 | $0.00 | $0.00 |
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 WarCap Unconstrained 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 WarCap Unconstrained Equity ETF was 15.90%, occurring on Mar 30, 2026. The portfolio has not yet recovered.
The current WarCap Unconstrained Equity ETF drawdown is 8.92%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 correction2026 | -15.90%Mar 2026 | 6mo 9d | — | 9mo 21dSep 2025 - now |
2025 pullback2025 | -0.41%Sep 2025 | 1d | 3d | 4dSep 2025 - Sep 2025 |
2025 pullback2025 | -0.35%Sep 2025 | 0s | 1d | 1dSep 2025 - Sep 2025 |
Drawdown Indicators
| WCAP | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.90% | -56.78% | +40.88% |
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 | -8.92% | -0.87% | -8.05% |
Average DrawdownAverage peak-to-trough decline | -6.94% | -10.71% | +3.77% |
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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