NANC vs. DARP

Last updated Jun 4, 2026

NANC (Subversive Unusual Whales Democratic ETF) and DARP (Grizzle Growth ETF) are both Large Cap Growth Equities funds. Both are actively managed. Over the past year, NANC returned 26.05% vs 82.62% for DARP. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.75% expense ratio.

Performance

NANC vs. DARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Subversive Unusual Whales Democratic ETF (NANC) 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, NANC achieves a 9.48% return, which is significantly lower than DARP's 32.67% return.

NANC

• 1D: -1.03%
• 1M: 6.13%
• YTD: 9.48%
• 6M: 9.13%
• 1Y: 26.05%
• 3Y*: 23.55%
• 5Y*: —
• 10Y*: —

DARP

• 1D: -0.76%
• 1M: 8.18%
• YTD: 32.67%
• 6M: 34.22%
• 1Y: 82.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NANC vs. DARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NANC Subversive Unusual Whales Democratic ETF	9.48%	18.54%	26.83%	10.74%
DARP Grizzle Growth ETF	32.67%	40.19%	24.63%	6.25%

Correlation

The correlation between NANC and DARP is 0.76, 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	0.76
Correlation (All Time) Calculated using the full available price history since Aug 29, 2023	0.83

The correlation between NANC and DARP has been stable across timeframes, ranging from 0.76 to 0.83 - a consistent structural relationship.

NANC vs. DARP - Sectors Allocation Comparison

Sectors	NANC	DARP
Technology	41.5%	45.8%
Communication Services	15.1%	19.4%
Healthcare	10.5%	1.4%
Consumer Cyclical	9.2%	6.6%
Financial Services	7.7%	-
Consumer Defensive	7.6%	-
Industrials	5.5%	12.0%
Basic Materials	2.2%	4.7%
Utilities	0.6%	5.4%
Energy	-	9.9%
Real Estate	-	-

Return for Risk

NANC vs. DARP — Risk / Return Rank

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

NANC

NANC Risk / Return Rank: 51
NANC Sharpe Ratio Rank: 55
NANC Sortino Ratio Rank: 54
NANC Omega Ratio Rank: 54
NANC Calmar Ratio Rank: 42
NANC Martin Ratio Rank: 52

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.

NANC vs. DARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Subversive Unusual Whales Democratic ETF (NANC) 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.

	NANC	DARP	Difference
Sharpe ratio: Return per unit of total volatility	1.93	3.59	-1.66
Sortino ratio: Return per unit of downside risk	2.67	4.03	-1.36
Omega ratio: Gain probability vs. loss probability	1.34	1.54	-0.20
Calmar ratio: Return relative to maximum drawdown	2.14	7.03	-4.89
Martin ratio: Return relative to average drawdown	8.86	26.75	-17.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NANC vs. DARP - Sharpe Ratio Comparison

The current NANC Sharpe Ratio is 1.93, which is lower than the DARP Sharpe Ratio of 3.59. The chart below compares the historical Sharpe Ratios of NANC 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

	NANC	DARP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	3.59	-1.66
Sharpe Ratio (All Time) Calculated using the full available price history	1.38	1.49	-0.10

Drawdowns

NANC vs. DARP - Drawdown Comparison

The maximum NANC drawdown since its inception was -20.94%, smaller than the maximum DARP drawdown of -30.27%. Use the drawdown chart below to compare losses from any high point for NANC and DARP.

Drawdown Indicators

	NANC	DARP	Difference
Max Drawdown Largest peak-to-trough decline	-20.94%	-30.27%	+9.33%
Max Drawdown (1Y) Largest decline over 1 year	-12.21%	-11.82%	-0.39%
Max Drawdown (3Y) Largest decline over 3 years	-20.94%	—	—
Current Drawdown Current decline from peak	-1.34%	-0.76%	-0.58%
Average Drawdown Average peak-to-trough decline	-2.67%	-4.64%	+1.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	3.10%	-0.15%

Volatility

NANC vs. DARP - Volatility Comparison

The current volatility for Subversive Unusual Whales Democratic ETF (NANC) is 3.65%, while Grizzle Growth ETF (DARP) has a volatility of 7.07%. This indicates that NANC 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

	NANC	DARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	7.07%	-3.42%
Volatility (6M) Calculated over the trailing 6-month period	10.38%	17.49%	-7.11%
Volatility (1Y) Calculated over the trailing 1-year period	13.60%	23.16%	-9.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.73%	26.11%	-9.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.73%	26.11%	-9.38%

NANC vs. DARP - Expense Ratio Comparison

Both NANC and DARP have an expense ratio of 0.75%.

Dividends

NANC vs. DARP - Dividend Comparison

NANC's dividend yield for the trailing twelve months is around 0.19%, less than DARP's 0.33% yield.

Position	TTM	2025	2024	2023
DARP Grizzle Growth ETF	0.33%	0.43%	1.93%	0.32%
NANC Subversive Unusual Whales Democratic ETF	0.19%	0.21%	0.20%	0.94%

Frequently Asked Questions

Can I hold both NANC and DARP in my portfolio?

NANC and DARP have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NANC or DARP?

DARP has higher volatility (7.07%) compared to NANC (3.65%). In terms of maximum drawdown, NANC dropped -20.94% vs DARP's -30.27%.

Which ETF is better, NANC or DARP?

On 1-year performance, DARP leads with 82.62% vs 26.05% for NANC. Both ETFs have the same 0.75% expense ratio. On volatility, NANC has been the lower-risk option at 3.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NANC or DARP?

Over the 1-year period, DARP has performed better with a 82.62% return vs 26.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NANC or DARP?

NANC and DARP have the same expense ratio: 0.75% per year.

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

DARP has the higher dividend yield at 0.33%, compared with 0.19% for NANC.

What is the main difference between NANC and DARP?

They also come from different issuers: Subversive and Grizzle.

Which has better risk-adjusted returns?

DARP currently has the higher Sharpe Ratio (3.59 vs 1.93), 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.