ARP vs. DALI

Last updated Apr 2, 2026

Compare and contrast key facts about Pmv Adaptive Risk Parity ETF (ARP) and First Trust Dorsey Wright DALI 1 ETF (DALI).

ARP and DALI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ARP is an actively managed fund by PMV. It was launched on Dec 21, 2022. DALI is a passively managed fund by First Trust that tracks the performance of the Dorsey Wright DALI 1 Index. It was launched on May 14, 2018.

Performance

ARP vs. DALI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pmv Adaptive Risk Parity ETF (ARP) and First Trust Dorsey Wright DALI 1 ETF (DALI). The values are adjusted to include any dividend payments, if applicable.

ARP vs. DALI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ARP Pmv Adaptive Risk Parity ETF	5.13%	18.33%	13.79%	3.66%	-0.57%
DALI First Trust Dorsey Wright DALI 1 ETF	-1.83%	11.89%	19.93%	-8.48%	0.32%

Returns By Period

In the year-to-date period, ARP achieves a 5.13% return, which is significantly higher than DALI's -1.83% return.

ARP

• 1D: 1.18%
• 1M: -5.77%
• YTD: 5.13%
• 6M: 9.49%
• 1Y: 22.15%
• 3Y*: 13.53%
• 5Y*: —
• 10Y*: —

DALI

• 1D: 1.41%
• 1M: -6.10%
• YTD: -1.83%
• 6M: 0.45%
• 1Y: 17.62%
• 3Y*: 5.49%
• 5Y*: 4.10%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARP vs. DALI - Expense Ratio Comparison

ARP has a 1.42% expense ratio, which is higher than DALI's 0.90% expense ratio.

ARP

Pmv Adaptive Risk Parity ETF

DALI

First Trust Dorsey Wright DALI 1 ETF

Return for Risk

ARP vs. DALI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARP

ARP Risk / Return Rank: 79
ARP Sharpe Ratio Rank: 81
ARP Sortino Ratio Rank: 78
ARP Omega Ratio Rank: 82
ARP Calmar Ratio Rank: 76
ARP Martin Ratio Rank: 79

DALI

DALI Risk / Return Rank: 46
DALI Sharpe Ratio Rank: 43
DALI Sortino Ratio Rank: 44
DALI Omega Ratio Rank: 44
DALI Calmar Ratio Rank: 50
DALI Martin Ratio Rank: 48

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARP vs. DALI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pmv Adaptive Risk Parity ETF (ARP) and First Trust Dorsey Wright DALI 1 ETF (DALI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ARP	DALI	Difference
Sharpe ratio Return per unit of total volatility	1.62	0.84	+0.78
Sortino ratio Return per unit of downside risk	2.08	1.28	+0.81
Omega ratio Gain probability vs. loss probability	1.34	1.18	+0.15
Calmar ratio Return relative to maximum drawdown	2.20	1.41	+0.79
Martin ratio Return relative to average drawdown	9.32	4.99	+4.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARP vs. DALI - Sharpe Ratio Comparison

The current ARP Sharpe Ratio is 1.62, which is higher than the DALI Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of ARP and DALI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ARP	DALI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	0.84	+0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.21	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.22	0.26	+0.96

Correlation

The correlation between ARP and DALI is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ARP vs. DALI - Dividend Comparison

ARP's dividend yield for the trailing twelve months is around 6.22%, more than DALI's 0.42% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ARP Pmv Adaptive Risk Parity ETF	6.22%	6.54%	5.29%	2.67%	0.06%	0.00%	0.00%	0.00%	0.00%
DALI First Trust Dorsey Wright DALI 1 ETF	0.42%	0.38%	0.18%	3.42%	0.50%	0.11%	1.25%	0.45%	0.17%

Drawdowns

ARP vs. DALI - Drawdown Comparison

The maximum ARP drawdown since its inception was -10.13%, smaller than the maximum DALI drawdown of -36.06%. Use the drawdown chart below to compare losses from any high point for ARP and DALI.

Drawdown Indicators

	ARP	DALI	Difference
Max Drawdown Largest peak-to-trough decline	-10.13%	-36.06%	+25.93%
Max Drawdown (1Y) Largest decline over 1 year	-10.13%	-12.98%	+2.85%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.26%	—
Current Drawdown Current decline from peak	-5.89%	-8.08%	+2.19%
Average Drawdown Average peak-to-trough decline	-1.77%	-10.31%	+8.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	3.67%	-1.28%

Volatility

ARP vs. DALI - Volatility Comparison

The current volatility for Pmv Adaptive Risk Parity ETF (ARP) is 6.89%, while First Trust Dorsey Wright DALI 1 ETF (DALI) has a volatility of 7.45%. This indicates that ARP experiences smaller price fluctuations and is considered to be less risky than DALI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARP	DALI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.89%	7.45%	-0.56%
Volatility (6M) Calculated over the trailing 6-month period	12.69%	13.52%	-0.83%
Volatility (1Y) Calculated over the trailing 1-year period	13.70%	21.02%	-7.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.15%	19.49%	-9.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.15%	20.92%	-10.77%