DARP vs. CTEF

Last updated Jun 9, 2026

DARP (Grizzle Growth ETF) and CTEF (Castellan Targeted Equity ETF) are both exchange-traded funds - DARP is a Large Cap Growth Equities fund actively managed by Grizzle, while CTEF is a Mid Cap Blend Equities fund actively managed by Castellan. Both are actively managed. A 0.74 correlation means they provide meaningful diversification when combined. DARP charges 0.75%/yr vs 0.45%/yr for CTEF.

Performance

DARP vs. CTEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grizzle Growth ETF (DARP) and Castellan Targeted Equity ETF (CTEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DARP having a 26.29% return and CTEF slightly higher at 27.48%.

DARP

• 1D: 1.08%
• 1M: -0.29%
• YTD: 26.29%
• 6M: 26.98%
• 1Y: 70.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CTEF

• 1D: 1.50%
• 1M: 4.26%
• YTD: 27.48%
• 6M: 28.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DARP vs. CTEF - Yearly Performance Comparison

	2026 (YTD)	2025
DARP Grizzle Growth ETF	26.29%	32.82%
CTEF Castellan Targeted Equity ETF	27.48%	33.22%

Correlation

The correlation between DARP and CTEF is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 20, 2025	0.74

Return for Risk

DARP vs. CTEF — Risk / Return Rank

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

DARP

DARP Risk / Return Rank: 90
DARP Sharpe Ratio Rank: 92
DARP Sortino Ratio Rank: 84
DARP Omega Ratio Rank: 85
DARP Calmar Ratio Rank: 93
DARP Martin Ratio Rank: 93

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.

DARP vs. CTEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grizzle Growth ETF (DARP) and Castellan Targeted Equity ETF (CTEF). 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.

	DARP	CTEF	Difference
Sharpe ratio: Return per unit of total volatility	2.99	—	—
Sortino ratio: Return per unit of downside risk	3.41	—	—
Omega ratio: Gain probability vs. loss probability	1.47	—	—
Calmar ratio: Return relative to maximum drawdown	6.02	—	—
Martin ratio: Return relative to average drawdown	22.58	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DARP	CTEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.99	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.38	3.33	-1.96

Drawdowns

DARP vs. CTEF - Drawdown Comparison

The maximum DARP drawdown since its inception was -30.27%, which is greater than CTEF's maximum drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for DARP and CTEF.

Drawdown Indicators

	DARP	CTEF	Difference
Max Drawdown Largest peak-to-trough decline	-30.27%	-15.00%	-15.27%
Max Drawdown (1Y) Largest decline over 1 year	-11.82%	—	—
Current Drawdown Current decline from peak	-5.53%	-1.85%	-3.68%
Average Drawdown Average peak-to-trough decline	-4.64%	-1.79%	-2.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	—	—

Volatility

Volatility by Period

	DARP	CTEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.77%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.47%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.85%	22.00%	+1.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.28%	22.00%	+4.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.28%	22.00%	+4.28%

DARP vs. CTEF - Expense Ratio Comparison

DARP has a 0.75% expense ratio, which is higher than CTEF's 0.45% expense ratio.

Dividends

DARP vs. CTEF - Dividend Comparison

DARP's dividend yield for the trailing twelve months is around 0.34%, more than CTEF's 0.06% yield.

Position	TTM	2025	2024	2023
CTEF Castellan Targeted Equity ETF	0.06%	0.08%	0.00%	0.00%
DARP Grizzle Growth ETF	0.34%	0.43%	1.93%	0.32%

Frequently Asked Questions

Can I hold both DARP and CTEF in my portfolio?

DARP and CTEF have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DARP or CTEF?

On fees, CTEF is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DARP or CTEF?

CTEF is cheaper with a 0.45% expense ratio, compared with 0.75% for DARP.

Which ETF pays a higher dividend yield, DARP or CTEF?

DARP has the higher dividend yield at 0.34%, compared with 0.06% for CTEF.

What is the main difference between DARP and CTEF?

DARP is categorized as Large Cap Growth Equities, while CTEF is Mid Cap Blend Equities. They also come from different issuers: Grizzle and Castellan. Their fees differ too: 0.75% for DARP and 0.45% for CTEF.