MAMB vs. MPRO

Last updated Jun 4, 2026

MAMB (Monarch Ambassador Income ETF) and MPRO (Monarch ProCap ETF) are both exchange-traded funds - MAMB is a Intermediate Core-Plus Bond fund tracking the Monarch Ambassador Income Index, while MPRO is a Diversified Portfolio fund tracking the Monarch ProCap Index. Both are passively managed. Over the past 5 years, MAMB returned 0.72%/yr vs 5.46%/yr for MPRO. A 0.59 correlation means they provide meaningful diversification when combined. MAMB charges 1.49%/yr vs 1.17%/yr for MPRO.

Performance

MAMB vs. MPRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monarch Ambassador Income ETF (MAMB) and Monarch ProCap ETF (MPRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAMB achieves a 2.01% return, which is significantly lower than MPRO's 5.93% return.

MAMB

• 1D: -0.26%
• 1M: 0.63%
• YTD: 2.01%
• 6M: 1.90%
• 1Y: 9.37%
• 3Y*: 5.37%
• 5Y*: 0.72%
• 10Y*: —

MPRO

• 1D: -0.28%
• 1M: 0.89%
• YTD: 5.93%
• 6M: 5.81%
• 1Y: 12.85%
• 3Y*: 9.93%
• 5Y*: 5.46%
• 10Y*: —

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

MAMB vs. MPRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MAMB Monarch Ambassador Income ETF	2.01%	10.69%	1.32%	4.90%	-13.02%	1.46%
MPRO Monarch ProCap ETF	5.93%	9.33%	8.37%	10.55%	-9.38%	11.79%

Correlation

The correlation between MAMB and MPRO is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since Mar 25, 2021	0.59

The correlation between MAMB and MPRO has been stable across timeframes, ranging from 0.54 to 0.59 - a consistent structural relationship.

MAMB vs. MPRO - Sectors Allocation Comparison

Sectors	MAMB	MPRO
Financial Services	100.0%	9.8%
Utilities	70.8%	-
Healthcare	19.5%	18.8%
Industrials	8.5%	9.5%
Consumer Cyclical	1.1%	10.4%
Communication Services	0.2%	19.8%
Basic Materials	-	-
Consumer Defensive	-	9.6%
Energy	-	-
Real Estate	-	10.1%
Technology	-	11.9%

Return for Risk

MAMB vs. MPRO — Risk / Return Rank

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

MAMB

MAMB Risk / Return Rank: 48
MAMB Sharpe Ratio Rank: 48
MAMB Sortino Ratio Rank: 47
MAMB Omega Ratio Rank: 47
MAMB Calmar Ratio Rank: 53
MAMB Martin Ratio Rank: 46

MPRO

MPRO Risk / Return Rank: 56
MPRO Sharpe Ratio Rank: 58
MPRO Sortino Ratio Rank: 62
MPRO Omega Ratio Rank: 58
MPRO Calmar Ratio Rank: 47
MPRO Martin Ratio Rank: 53

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.

MAMB vs. MPRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monarch Ambassador Income ETF (MAMB) and Monarch ProCap ETF (MPRO). 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.

	MAMB	MPRO	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.95	-0.29
Sortino ratio: Return per unit of downside risk	2.33	2.87	-0.55
Omega ratio: Gain probability vs. loss probability	1.29	1.35	-0.06
Calmar ratio: Return relative to maximum drawdown	2.65	2.28	+0.37
Martin ratio: Return relative to average drawdown	7.49	8.99	-1.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAMB vs. MPRO - Sharpe Ratio Comparison

The current MAMB Sharpe Ratio is 1.66, which is comparable to the MPRO Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of MAMB and MPRO, 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

	MAMB	MPRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	1.95	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.59	-0.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.74	-0.58

Drawdowns

MAMB vs. MPRO - Drawdown Comparison

The maximum MAMB drawdown since its inception was -19.33%, which is greater than MPRO's maximum drawdown of -14.51%. Use the drawdown chart below to compare losses from any high point for MAMB and MPRO.

Drawdown Indicators

	MAMB	MPRO	Difference
Max Drawdown Largest peak-to-trough decline	-19.33%	-14.51%	-4.82%
Max Drawdown (1Y) Largest decline over 1 year	-3.55%	-5.67%	+2.12%
Max Drawdown (3Y) Largest decline over 3 years	-7.38%	-9.64%	+2.26%
Max Drawdown (5Y) Largest decline over 5 years	-19.33%	-14.51%	-4.82%
Current Drawdown Current decline from peak	-1.65%	-0.87%	-0.78%
Average Drawdown Average peak-to-trough decline	-7.50%	-3.46%	-4.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	1.43%	-0.18%

Volatility

MAMB vs. MPRO - Volatility Comparison

Monarch Ambassador Income ETF (MAMB) and Monarch ProCap ETF (MPRO) have volatilities of 1.72% and 1.74%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAMB	MPRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	1.74%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	4.21%	5.02%	-0.81%
Volatility (1Y) Calculated over the trailing 1-year period	5.67%	6.64%	-0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.99%	9.25%	-2.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.91%	9.22%	-2.31%

MAMB vs. MPRO - Expense Ratio Comparison

MAMB has a 1.49% expense ratio, which is higher than MPRO's 1.17% expense ratio.

Dividends

MAMB vs. MPRO - Dividend Comparison

MAMB's dividend yield for the trailing twelve months is around 2.44%, more than MPRO's 1.88% yield.

Position	TTM	2025	2024	2023	2022	2021
MAMB Monarch Ambassador Income ETF	2.44%	2.47%	2.11%	1.73%	0.92%	0.56%
MPRO Monarch ProCap ETF	1.88%	1.93%	1.64%	1.40%	1.09%	0.95%

Frequently Asked Questions

Can I hold both MAMB and MPRO in my portfolio?

MAMB and MPRO have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAMB or MPRO?

MPRO has higher volatility (1.74%) compared to MAMB (1.72%). In terms of maximum drawdown, MAMB dropped -19.33% vs MPRO's -14.51%.

Which ETF is better, MAMB or MPRO?

On 5-year performance, MPRO leads with 5.46% vs 0.72% for MAMB. On fees, MPRO is cheaper at 1.17% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAMB or MPRO?

Over the 5-year period, MPRO has performed better with a 5.46% return vs 0.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAMB or MPRO?

MPRO is cheaper with a 1.17% expense ratio, compared with 1.49% for MAMB.

Which ETF pays a higher dividend yield, MAMB or MPRO?

MAMB has the higher dividend yield at 2.44%, compared with 1.88% for MPRO.

What is the main difference between MAMB and MPRO?

MAMB is categorized as Intermediate Core-Plus Bond, while MPRO is Diversified Portfolio. MAMB tracks Monarch Ambassador Income Index, while MPRO tracks Monarch ProCap Index. Their fees differ too: 1.49% for MAMB and 1.17% for MPRO.

Which has better risk-adjusted returns?

MPRO currently has the higher Sharpe Ratio (1.95 vs 1.66), 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.