JPO vs. PRTO

Last updated Jun 4, 2026

JPO (YieldMax JPM Option Income Strategy ETF) and PRTO (RCN Pareto Strategic Allocation ETF) are both exchange-traded funds - JPO is a Options Trading fund actively managed by Tidal, while PRTO is a Tactical Allocation fund actively managed by Tidal. Both are actively managed. A 0.51 correlation means they provide meaningful diversification when combined. JPO charges 1.19%/yr vs 0.82%/yr for PRTO.

Performance

JPO vs. PRTO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax JPM Option Income Strategy ETF (JPO) and RCN Pareto Strategic Allocation ETF (PRTO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

JPO

• 1D: -0.07%
• 1M: -1.34%
• YTD: -4.07%
• 6M: -0.99%
• 1Y: 12.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PRTO

• 1D: -0.71%
• 1M: 2.88%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JPO vs. PRTO - Yearly Performance Comparison

	2026 (YTD)
JPO YieldMax JPM Option Income Strategy ETF	4.05%
PRTO RCN Pareto Strategic Allocation ETF	10.17%

Correlation

The correlation between JPO and PRTO is 0.51, 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 Mar 26, 2026	0.51

Return for Risk

JPO vs. PRTO — Risk / Return Rank

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

JPO

JPO Risk / Return Rank: 20
JPO Sharpe Ratio Rank: 20
JPO Sortino Ratio Rank: 19
JPO Omega Ratio Rank: 19
JPO Calmar Ratio Rank: 20
JPO Martin Ratio Rank: 20

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.

JPO vs. PRTO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax JPM Option Income Strategy ETF (JPO) and RCN Pareto Strategic Allocation ETF (PRTO). 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.

	JPO	PRTO	Difference
Sharpe ratio Return per unit of total volatility	0.66	—	—
Sortino ratio Return per unit of downside risk	0.96	—	—
Omega ratio Gain probability vs. loss probability	1.13	—	—
Calmar ratio Return relative to maximum drawdown	0.86	—	—
Martin ratio Return relative to average drawdown	2.15	—	—
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

	JPO	PRTO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	4.77	-4.07

Drawdowns

JPO vs. PRTO - Drawdown Comparison

The maximum JPO drawdown since its inception was -24.80%, which is greater than PRTO's maximum drawdown of -2.98%. Use the drawdown chart below to compare losses from any high point for JPO and PRTO.

Drawdown Indicators

	JPO	PRTO	Difference
Max Drawdown Largest peak-to-trough decline	-24.80%	-2.98%	-21.82%
Max Drawdown (1Y) Largest decline over 1 year	-14.24%	—	—
Current Drawdown Current decline from peak	-6.88%	-0.71%	-6.17%
Average Drawdown Average peak-to-trough decline	-4.60%	-0.55%	-4.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.69%	—	—

Volatility

Volatility by Period

	JPO	PRTO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.16%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.62%	14.03%	+4.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.04%	14.03%	+5.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.04%	14.03%	+5.01%

JPO vs. PRTO - Expense Ratio Comparison

JPO has a 1.19% expense ratio, which is higher than PRTO's 0.82% expense ratio.

Dividends

JPO vs. PRTO - Dividend Comparison

JPO's dividend yield for the trailing twelve months is around 34.24%, while PRTO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
JPO YieldMax JPM Option Income Strategy ETF	34.24%	34.13%	25.15%	4.84%
PRTO RCN Pareto Strategic Allocation ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPO and PRTO in my portfolio?

JPO and PRTO have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JPO or PRTO?

On fees, PRTO is cheaper at 0.82% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JPO or PRTO?

PRTO is cheaper with a 0.82% expense ratio, compared with 1.19% for JPO.

Which ETF pays a higher dividend yield, JPO or PRTO?

JPO has the higher dividend yield at 34.24%, compared with 0.00% for PRTO.

What is the main difference between JPO and PRTO?

JPO is categorized as Options Trading, while PRTO is Tactical Allocation. Their fees differ too: 1.19% for JPO and 0.82% for PRTO.