LGRO vs. DARP

Last updated Jun 5, 2026

LGRO (Level Four Large Cap Growth Active ETF) and DARP (Grizzle Growth ETF) are both Large Cap Growth Equities funds. Both are actively managed. Over the past year, LGRO returned 25.66% vs 80.81% for DARP. A 0.77 correlation means they provide meaningful diversification when combined. LGRO charges 0.50%/yr vs 0.75%/yr for DARP.

Performance

LGRO vs. DARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Level Four Large Cap Growth Active ETF (LGRO) and Grizzle Growth ETF (DARP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LGRO achieves a 8.22% return, which is significantly lower than DARP's 32.15% return.

LGRO

• 1D: 0.41%
• 1M: 7.37%
• YTD: 8.22%
• 6M: 8.56%
• 1Y: 25.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DARP

• 1D: -0.39%
• 1M: 6.27%
• YTD: 32.15%
• 6M: 32.96%
• 1Y: 80.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LGRO vs. DARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
LGRO Level Four Large Cap Growth Active ETF	8.22%	18.15%	23.95%	11.68%
DARP Grizzle Growth ETF	32.15%	40.19%	24.63%	6.25%

Correlation

The correlation between LGRO and DARP is 0.68, 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	0.68
Correlation (All Time) Calculated using the full available price history since Aug 29, 2023	0.77

The correlation between LGRO and DARP has been stable across timeframes, ranging from 0.68 to 0.77 - a consistent structural relationship.

LGRO vs. DARP - Sectors Allocation Comparison

Sectors	LGRO	DARP
Technology	48.1%	45.8%
Consumer Cyclical	14.4%	6.6%
Communication Services	13.4%	19.4%
Financial Services	9.1%	-
Healthcare	8.1%	1.4%
Industrials	3.0%	12.0%
Energy	2.2%	9.9%
Consumer Defensive	1.8%	-
Basic Materials	-	4.7%
Real Estate	-	-
Utilities	-	5.4%

Return for Risk

LGRO vs. DARP — Risk / Return Rank

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

LGRO

LGRO Risk / Return Rank: 42
LGRO Sharpe Ratio Rank: 48
LGRO Sortino Ratio Rank: 46
LGRO Omega Ratio Rank: 46
LGRO Calmar Ratio Rank: 34
LGRO Martin Ratio Rank: 37

DARP

DARP Risk / Return Rank: 91
DARP Sharpe Ratio Rank: 94
DARP Sortino Ratio Rank: 88
DARP Omega Ratio Rank: 87
DARP Calmar Ratio Rank: 93
DARP Martin Ratio Rank: 94

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.

LGRO vs. DARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Level Four Large Cap Growth Active ETF (LGRO) and Grizzle Growth ETF (DARP). 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.

	LGRO	DARP	Difference
Sharpe ratio: Return per unit of total volatility	1.65	3.51	-1.86
Sortino ratio: Return per unit of downside risk	2.25	3.97	-1.71
Omega ratio: Gain probability vs. loss probability	1.29	1.53	-0.24
Calmar ratio: Return relative to maximum drawdown	1.69	6.88	-5.18
Martin ratio: Return relative to average drawdown	5.51	26.16	-20.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LGRO vs. DARP - Sharpe Ratio Comparison

The current LGRO Sharpe Ratio is 1.65, which is lower than the DARP Sharpe Ratio of 3.51. The chart below compares the historical Sharpe Ratios of LGRO and DARP, 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

	LGRO	DARP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.65	3.51	-1.86
Sharpe Ratio (All Time) Calculated using the full available price history	1.19	1.48	-0.29

Drawdowns

LGRO vs. DARP - Drawdown Comparison

The maximum LGRO drawdown since its inception was -23.26%, smaller than the maximum DARP drawdown of -30.27%. Use the drawdown chart below to compare losses from any high point for LGRO and DARP.

Drawdown Indicators

	LGRO	DARP	Difference
Max Drawdown Largest peak-to-trough decline	-23.26%	-30.27%	+7.01%
Max Drawdown (1Y) Largest decline over 1 year	-15.24%	-11.82%	-3.42%
Current Drawdown Current decline from peak	-1.80%	-1.15%	-0.65%
Average Drawdown Average peak-to-trough decline	-3.39%	-4.64%	+1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.67%	3.10%	+1.57%

Volatility

LGRO vs. DARP - Volatility Comparison

The current volatility for Level Four Large Cap Growth Active ETF (LGRO) is 4.01%, while Grizzle Growth ETF (DARP) has a volatility of 7.03%. This indicates that LGRO experiences smaller price fluctuations and is considered to be less risky than DARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LGRO	DARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	7.03%	-3.02%
Volatility (6M) Calculated over the trailing 6-month period	11.40%	17.50%	-6.10%
Volatility (1Y) Calculated over the trailing 1-year period	15.62%	23.14%	-7.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.29%	26.09%	-6.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.29%	26.09%	-6.80%

LGRO vs. DARP - Expense Ratio Comparison

LGRO has a 0.50% expense ratio, which is lower than DARP's 0.75% expense ratio.

Dividends

LGRO vs. DARP - Dividend Comparison

LGRO's dividend yield for the trailing twelve months is around 0.32%, less than DARP's 0.33% yield.

Position	TTM	2025	2024	2023
DARP Grizzle Growth ETF	0.33%	0.43%	1.93%	0.32%
LGRO Level Four Large Cap Growth Active ETF	0.32%	0.31%	0.39%	0.26%

Frequently Asked Questions

Can I hold both LGRO and DARP in my portfolio?

LGRO and DARP have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LGRO or DARP?

DARP has higher volatility (7.03%) compared to LGRO (4.01%). In terms of maximum drawdown, LGRO dropped -23.26% vs DARP's -30.27%.

Which ETF is better, LGRO or DARP?

On 1-year performance, DARP leads with 80.81% vs 25.66% for LGRO. On fees, LGRO is cheaper at 0.50% per year. On volatility, LGRO has been the lower-risk option at 4.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LGRO or DARP?

Over the 1-year period, DARP has performed better with a 80.81% return vs 25.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LGRO or DARP?

LGRO is cheaper with a 0.50% expense ratio, compared with 0.75% for DARP.

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

LGRO and DARP have nearly identical dividend yields, around 0.32%.

What is the main difference between LGRO and DARP?

They also come from different issuers: ALPS and Grizzle. Their fees differ too: 0.50% for LGRO and 0.75% for DARP.

Which has better risk-adjusted returns?

DARP currently has the higher Sharpe Ratio (3.51 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.