MPRO vs. QVOY

Last updated Jun 4, 2026

MPRO (Monarch ProCap ETF) and QVOY (Q3 All-Season Active Rotation ETF) are both Diversified Portfolio funds. MPRO is passively managed, while QVOY is actively managed. Over the past 3 years, MPRO returned 9.93%/yr vs 15.66%/yr for QVOY. A 0.59 correlation means they provide meaningful diversification when combined. MPRO charges 1.17%/yr vs 1.30%/yr for QVOY.

Performance

MPRO vs. QVOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monarch ProCap ETF (MPRO) and Q3 All-Season Active Rotation ETF (QVOY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MPRO achieves a 5.93% return, which is significantly lower than QVOY's 17.87% return.

MPRO

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

QVOY

• 1D: -0.40%
• 1M: 7.72%
• YTD: 17.87%
• 6M: 19.53%
• 1Y: 36.83%
• 3Y*: 15.66%
• 5Y*: —
• 10Y*: —

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

MPRO vs. QVOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MPRO Monarch ProCap ETF	5.93%	9.33%	8.37%	10.55%	-2.05%
QVOY Q3 All-Season Active Rotation ETF	17.87%	16.45%	1.55%	17.19%	-0.53%

Correlation

The correlation between MPRO and QVOY is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (All Time) Calculated using the full available price history since Dec 8, 2022	0.59

The correlation between MPRO and QVOY shifts across timeframes, from 0.47 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

MPRO vs. QVOY - Sectors Allocation Comparison

Sectors	MPRO	QVOY
Communication Services	19.8%	3.1%
Healthcare	18.8%	5.8%
Technology	11.9%	15.3%
Consumer Cyclical	10.4%	6.5%
Real Estate	10.1%	3.5%
Financial Services	9.8%	11.4%
Consumer Defensive	9.6%	3.6%
Industrials	9.5%	9.9%
Basic Materials	-	3.0%
Energy	-	19.3%
Utilities	-	18.7%

Return for Risk

MPRO vs. QVOY — Risk / Return Rank

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

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

QVOY

QVOY Risk / Return Rank: 70
QVOY Sharpe Ratio Rank: 72
QVOY Sortino Ratio Rank: 63
QVOY Omega Ratio Rank: 71
QVOY Calmar Ratio Rank: 78
QVOY Martin Ratio Rank: 67

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.

MPRO vs. QVOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monarch ProCap ETF (MPRO) and Q3 All-Season Active Rotation ETF (QVOY). 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.

	MPRO	QVOY	Difference
Sharpe ratio: Return per unit of total volatility	1.95	2.33	-0.38
Sortino ratio: Return per unit of downside risk	2.87	2.90	-0.03
Omega ratio: Gain probability vs. loss probability	1.35	1.42	-0.07
Calmar ratio: Return relative to maximum drawdown	2.28	3.94	-1.66
Martin ratio: Return relative to average drawdown	8.99	12.07	-3.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MPRO vs. QVOY - Sharpe Ratio Comparison

The current MPRO Sharpe Ratio is 1.95, which is comparable to the QVOY Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of MPRO and QVOY, 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

	MPRO	QVOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.95	2.33	-0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	1.01	-0.27

Drawdowns

MPRO vs. QVOY - Drawdown Comparison

The maximum MPRO drawdown since its inception was -14.51%, smaller than the maximum QVOY drawdown of -17.05%. Use the drawdown chart below to compare losses from any high point for MPRO and QVOY.

Drawdown Indicators

	MPRO	QVOY	Difference
Max Drawdown Largest peak-to-trough decline	-14.51%	-17.05%	+2.54%
Max Drawdown (1Y) Largest decline over 1 year	-5.67%	-9.39%	+3.72%
Max Drawdown (3Y) Largest decline over 3 years	-9.64%	-17.05%	+7.41%
Max Drawdown (5Y) Largest decline over 5 years	-14.51%	—	—
Current Drawdown Current decline from peak	-0.87%	-0.40%	-0.47%
Average Drawdown Average peak-to-trough decline	-3.46%	-3.74%	+0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.43%	3.06%	-1.63%

Volatility

MPRO vs. QVOY - Volatility Comparison

The current volatility for Monarch ProCap ETF (MPRO) is 1.74%, while Q3 All-Season Active Rotation ETF (QVOY) has a volatility of 4.58%. This indicates that MPRO experiences smaller price fluctuations and is considered to be less risky than QVOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MPRO	QVOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.74%	4.58%	-2.84%
Volatility (6M) Calculated over the trailing 6-month period	5.02%	12.58%	-7.56%
Volatility (1Y) Calculated over the trailing 1-year period	6.64%	15.90%	-9.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.25%	14.93%	-5.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.22%	14.93%	-5.71%

MPRO vs. QVOY - Expense Ratio Comparison

MPRO has a 1.17% expense ratio, which is lower than QVOY's 1.30% expense ratio.

Dividends

MPRO vs. QVOY - Dividend Comparison

MPRO's dividend yield for the trailing twelve months is around 1.88%, less than QVOY's 7.89% yield.

Position	TTM	2025	2024	2023	2022	2021
MPRO Monarch ProCap ETF	1.88%	1.93%	1.64%	1.40%	1.09%	0.95%
QVOY Q3 All-Season Active Rotation ETF	7.89%	9.30%	10.88%	6.03%	0.46%	0.00%

Frequently Asked Questions

Can I hold both MPRO and QVOY in my portfolio?

MPRO and QVOY have a correlation of 0.47, 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 QVOY?

QVOY has higher volatility (4.58%) compared to MPRO (1.74%). In terms of maximum drawdown, MPRO dropped -14.51% vs QVOY's -17.05%.

Which ETF is better, MPRO or QVOY?

On 3-year performance, QVOY leads with 15.66% vs 9.93% for MPRO. On fees, MPRO is cheaper at 1.17% per year. On volatility, MPRO has been the lower-risk option at 1.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MPRO or QVOY?

Over the 3-year period, QVOY has performed better with a 15.66% return vs 9.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MPRO or QVOY?

MPRO is cheaper with a 1.17% expense ratio, compared with 1.30% for QVOY.

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

QVOY has the higher dividend yield at 7.89%, compared with 1.88% for MPRO.

What is the main difference between MPRO and QVOY?

They also come from different issuers: Monarch and Q3. Their fees differ too: 1.17% for MPRO and 1.30% for QVOY.

Which has better risk-adjusted returns?

QVOY currently has the higher Sharpe Ratio (2.33 vs 1.95), 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.