ARP vs. ESBG

Last updated Jun 25, 2026

ARP (Pmv Adaptive Risk Parity ETF) and ESBG (First Trust Enhanced Stocks, Bonds & Gold ETF) are both Tactical Allocation funds. Both are actively managed. Their correlation of 0.83 suggests significant overlap in exposure. ARP charges 1.42%/yr vs 0.95%/yr for ESBG.

Performance

ARP vs. ESBG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pmv Adaptive Risk Parity ETF (ARP) and First Trust Enhanced Stocks, Bonds & Gold ETF (ESBG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARP achieves a 5.09% return, which is significantly higher than ESBG's -3.89% return.

ARP

• 1D: -1.02%
• 1M: -4.73%
• YTD: 5.09%
• 6M: 3.08%
• 1Y: 19.47%
• 3Y*: 13.14%
• 5Y*: —
• 10Y*: —

ESBG

• 1D: -1.88%
• 1M: -8.93%
• YTD: -3.89%
• 6M: -7.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ARP vs. ESBG - Yearly Performance Comparison

	2026 (YTD)	2025
ARP Pmv Adaptive Risk Parity ETF	5.09%	3.43%
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF	-3.89%	5.67%

Correlation

The correlation between ARP and ESBG is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 19, 2025	0.83

Return for Risk

ARP vs. ESBG — Risk / Return Rank

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

ARP

ARP Risk / Return Rank: 43
ARP Sharpe Ratio Rank: 42
ARP Sortino Ratio Rank: 36
ARP Omega Ratio Rank: 47
ARP Calmar Ratio Rank: 43
ARP Martin Ratio Rank: 46

ESBG

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. ESBG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pmv Adaptive Risk Parity ETF (ARP) and First Trust Enhanced Stocks, Bonds & Gold ETF (ESBG). 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.

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.

	ARP	ESBG	Difference
Sharpe ratio: Return per unit of total volatility	1.34	—	—
Sortino ratio: Return per unit of downside risk	1.73	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	1.93	—	—
Martin ratio: Return relative to average drawdown	6.91	—	—

Drawdowns

ARP vs. ESBG - Drawdown Comparison

The maximum ARP drawdown since its inception was -10.13%, smaller than the maximum ESBG drawdown of -18.84%. Use the drawdown chart below to compare losses from any high point for ARP and ESBG.

Drawdown Indicators

	ARP	ESBG	Difference
Max Drawdown Largest peak-to-trough decline	-10.13%	-18.84%	+8.71%
Max Drawdown (1Y) Largest decline over 1 year	-10.13%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-10.13%	—	—
Current Drawdown Current decline from peak	-6.10%	-18.50%	+12.40%
Average Drawdown Average peak-to-trough decline	-1.84%	-7.02%	+5.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	—	—

Volatility

Volatility by Period

	ARP	ESBG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.91%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.59%	26.31%	-11.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.40%	26.31%	-15.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.40%	26.31%	-15.91%

ARP vs. ESBG - Expense Ratio Comparison

ARP has a 1.42% expense ratio, which is higher than ESBG's 0.95% expense ratio.

Dividends

ARP vs. ESBG - Dividend Comparison

ARP's dividend yield for the trailing twelve months is around 6.22%, more than ESBG's 0.63% yield.

Position	TTM	2025	2024	2023	2022
ARP Pmv Adaptive Risk Parity ETF	6.22%	6.54%	5.29%	2.67%	0.06%
ESBG First Trust Enhanced Stocks, Bonds & Gold ETF	0.63%	0.24%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ARP and ESBG in my portfolio?

ARP and ESBG have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ARP or ESBG?

On fees, ESBG is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ARP or ESBG?

ESBG is cheaper with a 0.95% expense ratio, compared with 1.42% for ARP.

Which ETF pays a higher dividend yield, ARP or ESBG?

ARP has the higher dividend yield at 6.22%, compared with 0.63% for ESBG.

What is the main difference between ARP and ESBG?

They also come from different issuers: PMV and First Trust. Their fees differ too: 1.42% for ARP and 0.95% for ESBG.