GDMA vs. RPAR

Last updated Jun 4, 2026

GDMA (Gadsden Dynamic Multi-Asset ETF) and RPAR (RPAR Risk Parity ETF) are both Hedge Fund funds. Both are actively managed. Over the past 5 years, GDMA returned 7.66%/yr vs 1.76%/yr for RPAR. At a 0.39 correlation, their price movements are largely independent. GDMA charges 0.77%/yr vs 0.51%/yr for RPAR.

Performance

GDMA vs. RPAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gadsden Dynamic Multi-Asset ETF (GDMA) and RPAR Risk Parity ETF (RPAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDMA achieves a 11.18% return, which is significantly higher than RPAR's 7.53% return.

GDMA

• 1D: 0.30%
• 1M: 1.83%
• YTD: 11.18%
• 6M: 14.08%
• 1Y: 32.26%
• 3Y*: 16.91%
• 5Y*: 7.66%
• 10Y*: —

RPAR

• 1D: -0.47%
• 1M: 1.78%
• YTD: 7.53%
• 6M: 7.10%
• 1Y: 21.22%
• 3Y*: 9.22%
• 5Y*: 1.76%
• 10Y*: —

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

GDMA vs. RPAR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GDMA Gadsden Dynamic Multi-Asset ETF	11.18%	25.29%	7.44%	1.72%	-2.08%	3.95%	21.08%	0.72%
RPAR RPAR Risk Parity ETF	7.53%	17.91%	0.06%	6.03%	-22.82%	7.56%	19.40%	0.11%

Correlation

The correlation between GDMA and RPAR is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (All Time) Calculated using the full available price history since Dec 16, 2019	0.39

The correlation between GDMA and RPAR shifts across timeframes, from 0.27 (5 years) to 0.56 (1 year), reflecting how their relationship changes across market environments.

GDMA vs. RPAR - Sectors Allocation Comparison

Sectors	GDMA	RPAR
Technology	23.4%	0.1%
Financial Services	14.5%	35.9%
Industrials	14.4%	2.1%
Energy	10.0%	5.9%
Basic Materials	9.0%	6.4%
Consumer Cyclical	8.8%	0.1%
Communication Services	7.0%	4.9%
Healthcare	5.5%	5.1%
Consumer Defensive	3.5%	0.3%
Utilities	2.4%	0.2%
Real Estate	1.6%	-0.0%

Return for Risk

GDMA vs. RPAR — Risk / Return Rank

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

GDMA

GDMA Risk / Return Rank: 74
GDMA Sharpe Ratio Rank: 75
GDMA Sortino Ratio Rank: 70
GDMA Omega Ratio Rank: 77
GDMA Calmar Ratio Rank: 82
GDMA Martin Ratio Rank: 65

RPAR

RPAR Risk / Return Rank: 57
RPAR Sharpe Ratio Rank: 61
RPAR Sortino Ratio Rank: 61
RPAR Omega Ratio Rank: 60
RPAR Calmar Ratio Rank: 52
RPAR Martin Ratio Rank: 51

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.

GDMA vs. RPAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gadsden Dynamic Multi-Asset ETF (GDMA) and RPAR Risk Parity ETF (RPAR). 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.

	GDMA	RPAR	Difference
Sharpe ratio Return per unit of total volatility	2.47	2.09	+0.38
Sortino ratio Return per unit of downside risk	3.21	2.90	+0.30
Omega ratio Gain probability vs. loss probability	1.47	1.37	+0.09
Calmar ratio Return relative to maximum drawdown	4.30	2.63	+1.67
Martin ratio Return relative to average drawdown	11.92	8.71	+3.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GDMA vs. RPAR - Sharpe Ratio Comparison

The current GDMA Sharpe Ratio is 2.47, which is comparable to the RPAR Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of GDMA and RPAR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GDMA	RPAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	2.09	+0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.14	+0.65
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	0.36	+0.53

Drawdowns

GDMA vs. RPAR - Drawdown Comparison

The maximum GDMA drawdown since its inception was -16.66%, smaller than the maximum RPAR drawdown of -30.16%. Use the drawdown chart below to compare losses from any high point for GDMA and RPAR.

Drawdown Indicators

	GDMA	RPAR	Difference
Max Drawdown Largest peak-to-trough decline	-16.66%	-30.16%	+13.50%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	-8.10%	+0.57%
Max Drawdown (3Y) Largest decline over 3 years	-7.53%	-13.20%	+5.67%
Max Drawdown (5Y) Largest decline over 5 years	-12.74%	-30.16%	+17.42%
Current Drawdown Current decline from peak	-1.06%	-2.64%	+1.58%
Average Drawdown Average peak-to-trough decline	-3.78%	-11.61%	+7.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.71%	2.44%	+0.27%

Volatility

GDMA vs. RPAR - Volatility Comparison

Gadsden Dynamic Multi-Asset ETF (GDMA) has a higher volatility of 6.18% compared to RPAR Risk Parity ETF (RPAR) at 3.56%. This indicates that GDMA's price experiences larger fluctuations and is considered to be riskier than RPAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDMA	RPAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.18%	3.56%	+2.62%
Volatility (6M) Calculated over the trailing 6-month period	10.03%	8.37%	+1.66%
Volatility (1Y) Calculated over the trailing 1-year period	13.12%	10.20%	+2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.67%	12.40%	-2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.97%	12.69%	-1.72%

GDMA vs. RPAR - Expense Ratio Comparison

GDMA has a 0.77% expense ratio, which is higher than RPAR's 0.51% expense ratio.

Dividends

GDMA vs. RPAR - Dividend Comparison

GDMA's dividend yield for the trailing twelve months is around 2.51%, more than RPAR's 2.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
GDMA Gadsden Dynamic Multi-Asset ETF	2.51%	2.79%	2.32%	4.14%	1.18%	2.10%	0.62%	3.17%
RPAR RPAR Risk Parity ETF	2.07%	2.55%	2.51%	3.16%	4.01%	2.02%	0.76%	0.23%

Frequently Asked Questions

Can I hold both GDMA and RPAR in my portfolio?

GDMA and RPAR have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GDMA or RPAR?

GDMA has higher volatility (6.18%) compared to RPAR (3.56%). In terms of maximum drawdown, GDMA dropped -16.66% vs RPAR's -30.16%.

Which ETF is better, GDMA or RPAR?

On 5-year performance, GDMA leads with 7.66% vs 1.76% for RPAR. On fees, RPAR is cheaper at 0.51% per year. On volatility, RPAR has been the lower-risk option at 3.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GDMA or RPAR?

Over the 5-year period, GDMA has performed better with a 7.66% return vs 1.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GDMA or RPAR?

RPAR is cheaper with a 0.51% expense ratio, compared with 0.77% for GDMA.

Which ETF pays a higher dividend yield, GDMA or RPAR?

GDMA has the higher dividend yield at 2.51%, compared with 2.07% for RPAR.

What is the main difference between GDMA and RPAR?

They also come from different issuers: Gadsden and Toroso Investments. Their fees differ too: 0.77% for GDMA and 0.51% for RPAR.

Which has better risk-adjusted returns?

GDMA currently has the higher Sharpe Ratio (2.47 vs 2.09), 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.