ARP vs. THIR

Last updated Jun 23, 2026

ARP (Pmv Adaptive Risk Parity ETF) and THIR (THOR Index Rotation ETF) are both Tactical Allocation funds. ARP is actively managed, while THIR is passively managed. Over the past year, ARP returned 23.54% vs 23.63% for THIR. A 0.57 correlation means they provide meaningful diversification when combined. ARP charges 1.42%/yr vs 0.70%/yr for THIR.

Performance

ARP vs. THIR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pmv Adaptive Risk Parity ETF (ARP) and THOR Index Rotation ETF (THIR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARP achieves a 8.51% return, which is significantly higher than THIR's 6.61% return.

ARP

• 1D: -0.18%
• 1M: -1.63%
• YTD: 8.51%
• 6M: 7.32%
• 1Y: 23.54%
• 3Y*: 14.35%
• 5Y*: —
• 10Y*: —

THIR

• 1D: -0.29%
• 1M: 1.42%
• YTD: 6.61%
• 6M: 5.81%
• 1Y: 23.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ARP vs. THIR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ARP Pmv Adaptive Risk Parity ETF	8.51%	18.33%	-0.47%
THIR THOR Index Rotation ETF	6.61%	25.22%	3.16%

Correlation

The correlation between ARP and THIR is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (All Time) Calculated using the full available price history since Sep 24, 2024	0.57

The correlation between ARP and THIR has been stable across timeframes, ranging from 0.57 to 0.62 - a consistent structural relationship.

ARP vs. THIR - Sectors Allocation Comparison

Sectors	ARP	THIR
Technology	31.6%	48.5%
Financial Services	14.4%	5.4%
Industrials	11.8%	5.2%
Consumer Cyclical	9.4%	10.8%
Communication Services	8.1%	12.7%
Healthcare	6.4%	6.0%
Consumer Defensive	5.7%	5.7%
Basic Materials	5.0%	1.4%
Energy	3.6%	1.8%
Utilities	2.5%	1.6%
Real Estate	1.7%	0.9%

Return for Risk

ARP vs. THIR — Risk / Return Rank

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

ARP

ARP Risk / Return Rank: 49
ARP Sharpe Ratio Rank: 49
ARP Sortino Ratio Rank: 42
ARP Omega Ratio Rank: 55
ARP Calmar Ratio Rank: 48
ARP Martin Ratio Rank: 51

THIR

THIR Risk / Return Rank: 56
THIR Sharpe Ratio Rank: 57
THIR Sortino Ratio Rank: 56
THIR Omega Ratio Rank: 57
THIR Calmar Ratio Rank: 55
THIR Martin Ratio Rank: 55

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. THIR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pmv Adaptive Risk Parity ETF (ARP) and THOR Index Rotation ETF (THIR). 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	THIR	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.87	-0.23
Sortino ratio: Return per unit of downside risk	2.09	2.59	-0.50
Omega ratio: Gain probability vs. loss probability	1.33	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	2.34	2.67	-0.34
Martin ratio: Return relative to average drawdown	8.49	9.24	-0.75

ARP vs. THIR - Sharpe Ratio Comparison

The current ARP Sharpe Ratio is 1.65, which is comparable to the THIR Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of ARP and THIR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ARP vs. THIR - Drawdown Comparison

The maximum ARP drawdown since its inception was -10.13%, roughly equal to the maximum THIR drawdown of -10.05%. Use the drawdown chart below to compare losses from any high point for ARP and THIR.

Drawdown Indicators

	ARP	THIR	Difference
Max Drawdown Largest peak-to-trough decline	-10.13%	-10.05%	-0.08%
Max Drawdown (1Y) Largest decline over 1 year	-10.13%	-8.88%	-1.25%
Max Drawdown (3Y) Largest decline over 3 years	-10.13%	—	—
Current Drawdown Current decline from peak	-3.05%	-1.86%	-1.19%
Average Drawdown Average peak-to-trough decline	-1.84%	-2.00%	+0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	2.56%	+0.22%

Volatility

ARP vs. THIR - Volatility Comparison

The current volatility for Pmv Adaptive Risk Parity ETF (ARP) is 5.20%, while THOR Index Rotation ETF (THIR) has a volatility of 6.29%. This indicates that ARP experiences smaller price fluctuations and is considered to be less risky than THIR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARP	THIR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.20%	6.29%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	12.68%	10.08%	+2.60%
Volatility (1Y) Calculated over the trailing 1-year period	14.40%	12.69%	+1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.33%	13.23%	-2.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.33%	13.23%	-2.90%

ARP vs. THIR - Expense Ratio Comparison

ARP has a 1.42% expense ratio, which is higher than THIR's 0.70% expense ratio.

Dividends

ARP vs. THIR - Dividend Comparison

ARP's dividend yield for the trailing twelve months is around 6.03%, more than THIR's 0.33% yield.

Position	TTM	2025	2024	2023	2022
ARP Pmv Adaptive Risk Parity ETF	6.03%	6.54%	5.29%	2.67%	0.06%
THIR THOR Index Rotation ETF	0.33%	0.35%	0.29%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ARP and THIR in my portfolio?

ARP and THIR have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARP or THIR?

THIR has higher volatility (6.29%) compared to ARP (5.20%). In terms of maximum drawdown, ARP dropped -10.13% vs THIR's -10.05%.

Which ETF is better, ARP or THIR?

On 1-year performance, THIR leads with 23.63% vs 23.54% for ARP. On fees, THIR is cheaper at 0.70% per year. On volatility, ARP has been the lower-risk option at 5.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARP or THIR?

Over the 1-year period, THIR has performed better with a 23.63% return vs 23.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARP or THIR?

THIR is cheaper with a 0.70% expense ratio, compared with 1.42% for ARP.

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

ARP has the higher dividend yield at 6.03%, compared with 0.33% for THIR.

What is the main difference between ARP and THIR?

They also come from different issuers: PMV and THOR. Their fees differ too: 1.42% for ARP and 0.70% for THIR.

Which has better risk-adjusted returns?

THIR currently has the higher Sharpe Ratio (1.87 vs 1.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.