DRSK vs. PRVBX

Last updated Jul 12, 2026

DRSK (Aptus Defined Risk ETF) and PRVBX (Permanent Portfolio Versatile Bond Portfolio) are both funds - DRSK is a Diversified Portfolio fund actively managed by Aptus Capital Advisors, while PRVBX is a Short-Term Bond fund managed by Permanent Portfolio. Over the past 5 years, DRSK returned 2.53%/yr vs 2.61%/yr for PRVBX. At a 0.40 correlation, their price movements are largely independent. DRSK charges 0.79%/yr vs 0.64%/yr for PRVBX.

Performance

DRSK vs. PRVBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus Defined Risk ETF (DRSK) and Permanent Portfolio Versatile Bond Portfolio (PRVBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DRSK achieves a 2.81% return, which is significantly higher than PRVBX's 1.30% return.

DRSK

• 1D: 0.10%
• 1M: -0.33%
• 6M: 2.23%
• YTD: 2.81%
• 1Y: 5.60%
• 3Y*: 8.89%
• 5Y*: 2.53%
• 10Y*: —

PRVBX

• 1D: 0.02%
• 1M: 0.29%
• 6M: 1.06%
• YTD: 1.30%
• 1Y: 4.14%
• 3Y*: 5.65%
• 5Y*: 2.61%
• 10Y*: 4.27%

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

DRSK vs. PRVBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
DRSK Aptus Defined Risk ETF	2.81%	7.67%	12.50%	2.08%	-9.57%	0.88%	13.80%	12.64%	2.36%
PRVBX Permanent Portfolio Versatile Bond Portfolio	1.30%	5.66%	5.78%	6.91%	-5.91%	2.93%	9.88%	9.29%	-0.72%

Correlation

The correlation between DRSK and PRVBX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Aug 8, 2018	0.40

The correlation between DRSK and PRVBX shifts across timeframes, from 0.40 (all time) to 0.54 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DRSK vs. PRVBX — Risk / Return Rank

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

DRSK

DRSK Risk / Return Rank: 21
DRSK Sharpe Ratio Rank: 23
DRSK Sortino Ratio Rank: 23
DRSK Omega Ratio Rank: 20
DRSK Calmar Ratio Rank: 20
DRSK Martin Ratio Rank: 20

PRVBX

PRVBX Risk / Return Rank: 84
PRVBX Sharpe Ratio Rank: 88
PRVBX Sortino Ratio Rank: 88
PRVBX Omega Ratio Rank: 85
PRVBX Calmar Ratio Rank: 79
PRVBX Martin Ratio Rank: 77

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.

DRSK vs. PRVBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus Defined Risk ETF (DRSK) and Permanent Portfolio Versatile Bond Portfolio (PRVBX). 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.

	DRSK	PRVBX	Difference
Sharpe ratio: Return per unit of total volatility	0.67	2.36	-1.69
Sortino ratio: Return per unit of downside risk	1.06	3.57	-2.50
Omega ratio: Gain probability vs. loss probability	1.12	1.46	-0.34
Calmar ratio: Return relative to maximum drawdown	0.72	2.85	-2.13
Martin ratio: Return relative to average drawdown	1.84	10.95	-9.11

DRSK vs. PRVBX - Sharpe Ratio Comparison

The current DRSK Sharpe Ratio is 0.67, which is lower than the PRVBX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of DRSK and PRVBX, 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

DRSK vs. PRVBX - Drawdown Comparison

The maximum DRSK drawdown since its inception was -19.87%, which is greater than PRVBX's maximum drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for DRSK and PRVBX.

Drawdown Indicators

	DRSK	PRVBX	Difference
Max Drawdown Largest peak-to-trough decline	-19.87%	-16.91%	-2.96%
Max Drawdown (1Y) Largest decline over 1 year	-7.20%	-1.51%	-5.69%
Max Drawdown (3Y) Largest decline over 3 years	-9.60%	-1.51%	-8.09%
Max Drawdown (5Y) Largest decline over 5 years	-19.87%	-8.22%	-11.65%
Max Drawdown (10Y) Largest decline over 10 years	—	-16.91%	—
Current Drawdown Current decline from peak	-2.14%	-0.15%	-1.99%
Average Drawdown Average peak-to-trough decline	-4.18%	-0.72%	-3.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	0.39%	+2.44%

Volatility

DRSK vs. PRVBX - Volatility Comparison

Aptus Defined Risk ETF (DRSK) has a higher volatility of 1.57% compared to Permanent Portfolio Versatile Bond Portfolio (PRVBX) at 0.66%. This indicates that DRSK's price experiences larger fluctuations and is considered to be riskier than PRVBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRSK	PRVBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.57%	0.66%	+0.91%
Volatility (6M) Calculated over the trailing 6-month period	5.10%	1.48%	+3.62%
Volatility (1Y) Calculated over the trailing 1-year period	7.84%	1.83%	+6.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.43%	2.37%	+5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.05%	4.35%	+2.70%

DRSK vs. PRVBX - Expense Ratio Comparison

DRSK has a 0.79% expense ratio, which is higher than PRVBX's 0.64% expense ratio.

Dividends

DRSK vs. PRVBX - Dividend Comparison

DRSK's dividend yield for the trailing twelve months is around 3.69%, less than PRVBX's 4.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DRSK Aptus Defined Risk ETF	3.69%	3.67%	3.31%	3.57%	1.93%	2.64%	5.69%	3.04%	2.62%	0.00%	0.00%	0.00%
PRVBX Permanent Portfolio Versatile Bond Portfolio	4.13%	4.18%	3.61%	3.16%	1.83%	0.85%	4.73%	2.51%	1.71%	3.30%	3.27%	5.71%

Frequently Asked Questions

Can I hold both DRSK and PRVBX in my portfolio?

DRSK and PRVBX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DRSK or PRVBX?

DRSK has higher volatility (1.57%) compared to PRVBX (0.66%). In terms of maximum drawdown, DRSK dropped -19.87% vs PRVBX's -16.91%.

Which has better risk-adjusted returns?

PRVBX currently has the higher Sharpe Ratio (2.36 vs 0.67), 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.