MPRO vs. DDX

Last updated Aug 2, 2026

MPRO (Monarch ProCap ETF) and DDX (Defined Duration 10 ETF) are both Diversified Portfolio funds. MPRO is passively managed, while DDX is actively managed. Over the past 3 years, MPRO returned 9.38%/yr vs 8.02%/yr for DDX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. MPRO charges 1.17%/yr vs 0.25%/yr for DDX.

Performance

MPRO vs. DDX - Performance Comparison

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

Returns By Period

In the year-to-date period, MPRO achieves a 6.55% return, which is significantly higher than DDX's 5.15% return.

MPRO

• 1D: -0.38%
• 1M: -1.18%
• 6M: 4.04%
• YTD: 6.55%
• 1Y: 11.52%
• 3Y*: 9.38%
• 5Y*: 5.54%
• 10Y*: —
• ALL TIME*: 6.49%

DDX

• 1D: -0.16%
• 1M: -0.05%
• 6M: 3.40%
• YTD: 5.15%
• 1Y: 10.72%
• 3Y*: 8.02%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.69%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DDX Defined Duration 10 ETF	$196.84K	$130.52K	$174.66K
MPRO Monarch ProCap ETF	$499.08K	$983.09K	$779.19K

MPRO vs. DDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MPRO Monarch ProCap ETF	6.55%	9.33%	8.37%	10.55%	-9.38%	3.99%
DDX Defined Duration 10 ETF	5.15%	12.02%	2.93%	10.48%	-16.19%	1.34%

Correlation

The correlation between MPRO and DDX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (All Time) Calculated using the full available price history since Sep 20, 2021	0.80

The correlation between MPRO and DDX has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.

Return for Risk

MPRO vs. DDX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MPRO

MPRO Risk / Return Rank: 70
MPRO Sharpe Ratio Rank: 75
MPRO Sortino Ratio Rank: 78
MPRO Omega Ratio Rank: 74
MPRO Calmar Ratio Rank: 57
MPRO Martin Ratio Rank: 66

DDX

DDX Risk / Return Rank: 81
DDX Sharpe Ratio Rank: 84
DDX Sortino Ratio Rank: 86
DDX Omega Ratio Rank: 85
DDX Calmar Ratio Rank: 72
DDX Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MPRO vs. DDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monarch ProCap ETF (MPRO) and Defined Duration 10 ETF (DDX). 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.

	MPRO	DDX	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.97	-0.25
Sortino ratio: Return per unit of downside risk	2.54	2.90	-0.36
Omega ratio: Gain probability vs. loss probability	1.31	1.37	-0.06
Calmar ratio: Return relative to maximum drawdown	2.03	2.53	-0.50
Martin ratio: Return relative to average drawdown	7.94	10.01	-2.07

MPRO vs. DDX - Sharpe Ratio Comparison

The current MPRO Sharpe Ratio is 1.72, which is comparable to the DDX Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of MPRO and DDX, 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

MPRO vs. DDX - Drawdown Comparison

The maximum MPRO drawdown since its inception was -14.51%, smaller than the maximum DDX drawdown of -21.27%. Use the drawdown chart below to compare losses from any high point for MPRO and DDX.

Drawdown Indicators

	MPRO	DDX	Difference
Max Drawdown Largest peak-to-trough decline	-14.51%	-21.27%	+6.76%
Max Drawdown (1Y) Largest decline over 1 year	-5.67%	-4.41%	-1.26%
Max Drawdown (3Y) Largest decline over 3 years	-9.64%	-5.26%	-4.38%
Max Drawdown (5Y) Largest decline over 5 years	-14.51%	—	—
Current Drawdown Current decline from peak	-1.31%	-0.51%	-0.80%
Average Drawdown Average peak-to-trough decline	-3.37%	-6.90%	+3.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	1.11%	+0.34%

Volatility

MPRO vs. DDX - Volatility Comparison

Monarch ProCap ETF (MPRO) and Defined Duration 10 ETF (DDX) have volatilities of 1.60% and 1.56%, 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

	MPRO	DDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.60%	1.56%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	5.13%	4.85%	+0.28%
Volatility (1Y) Calculated over the trailing 1-year period	6.71%	5.65%	+1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.30%	7.43%	+1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.16%	7.43%	+1.73%

MPRO vs. DDX - Expense Ratio Comparison

MPRO has a 1.17% expense ratio, which is higher than DDX's 0.25% expense ratio.

Dividends

MPRO vs. DDX - Dividend Comparison

MPRO's dividend yield for the trailing twelve months is around 1.95%, less than DDX's 3.34% yield.

Position	TTM	2025	2024	2023	2022	2021
DDX Defined Duration 10 ETF	3.34%	3.17%	3.11%	2.41%	1.38%	1.14%
MPRO Monarch ProCap ETF	1.95%	1.93%	1.64%	1.40%	1.09%	0.95%

Frequently Asked Questions

Can I hold both MPRO and DDX in my portfolio?

MPRO and DDX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MPRO or DDX?

MPRO has higher volatility (1.60%) compared to DDX (1.56%). In terms of maximum drawdown, MPRO dropped -14.51% vs DDX's -21.27%.

Which ETF is better, MPRO or DDX?

On 3-year performance, MPRO leads with 9.38% vs 8.02% for DDX. On fees, DDX is cheaper at 0.25% 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, MPRO or DDX?

Over the 3-year period, MPRO has performed better with a 9.38% return vs 8.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MPRO or DDX?

DDX is cheaper with a 0.25% expense ratio, compared with 1.17% for MPRO.

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

DDX has the higher dividend yield at 3.34%, compared with 1.95% for MPRO.

What is the main difference between MPRO and DDX?

They also come from different issuers: Monarch and Discipline Funds. Their fees differ too: 1.17% for MPRO and 0.25% for DDX.

Which has better risk-adjusted returns?

DDX currently has the higher Sharpe Ratio (1.97 vs 1.72), 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.