NANC vs. TSPY

Last updated Jun 24, 2026

NANC (Unusual Whales Subversive Democratic Trading ETF) and TSPY (TappAlpha S&P 500 Growth & Daily Income ETF) are both exchange-traded funds - NANC is a Large Cap Blend Equities fund actively managed by Subversive, while TSPY is a Derivative Income fund actively managed by TappAlpha. Both are actively managed. Over the past year, NANC returned 21.34% vs 22.21% for TSPY. Their correlation of 0.87 suggests significant overlap in exposure. NANC charges 0.72%/yr vs 0.68%/yr for TSPY.

Performance

NANC vs. TSPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Unusual Whales Subversive Democratic Trading ETF (NANC) and TappAlpha S&P 500 Growth & Daily Income ETF (TSPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NANC achieves a 7.19% return, which is significantly higher than TSPY's 6.10% return.

NANC

• 1D: -1.59%
• 1M: 0.00%
• YTD: 7.19%
• 6M: 6.14%
• 1Y: 21.34%
• 3Y*: 22.07%
• 5Y*: —
• 10Y*: —

TSPY

• 1D: -1.37%
• 1M: -1.28%
• YTD: 6.10%
• 6M: 5.11%
• 1Y: 22.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NANC vs. TSPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NANC Unusual Whales Subversive Democratic Trading ETF	7.19%	18.54%	8.74%
TSPY TappAlpha S&P 500 Growth & Daily Income ETF	6.10%	17.29%	6.59%

Correlation

The correlation between NANC and TSPY is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Aug 15, 2024	0.87

The correlation between NANC and TSPY has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

NANC vs. TSPY — Risk / Return Rank

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

NANC

NANC Risk / Return Rank: 42
NANC Sharpe Ratio Rank: 44
NANC Sortino Ratio Rank: 42
NANC Omega Ratio Rank: 42
NANC Calmar Ratio Rank: 36
NANC Martin Ratio Rank: 45

TSPY

TSPY Risk / Return Rank: 54
TSPY Sharpe Ratio Rank: 55
TSPY Sortino Ratio Rank: 54
TSPY Omega Ratio Rank: 56
TSPY Calmar Ratio Rank: 48
TSPY Martin Ratio Rank: 58

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. TSPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unusual Whales Subversive Democratic Trading ETF (NANC) and TappAlpha S&P 500 Growth & Daily Income ETF (TSPY). 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.

	NANC	TSPY	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.81	-0.32
Sortino ratio: Return per unit of downside risk	2.08	2.50	-0.42
Omega ratio: Gain probability vs. loss probability	1.27	1.33	-0.07
Calmar ratio: Return relative to maximum drawdown	1.75	2.32	-0.56
Martin ratio: Return relative to average drawdown	7.09	9.98	-2.90

NANC vs. TSPY - Sharpe Ratio Comparison

The current NANC Sharpe Ratio is 1.49, which is comparable to the TSPY Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of NANC and TSPY, 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

NANC vs. TSPY - Drawdown Comparison

The maximum NANC drawdown since its inception was -20.94%, which is greater than TSPY's maximum drawdown of -18.02%. Use the drawdown chart below to compare losses from any high point for NANC and TSPY.

Drawdown Indicators

	NANC	TSPY	Difference
Max Drawdown Largest peak-to-trough decline	-20.94%	-18.02%	-2.92%
Max Drawdown (1Y) Largest decline over 1 year	-12.21%	-9.63%	-2.58%
Max Drawdown (3Y) Largest decline over 3 years	-20.94%	—	—
Current Drawdown Current decline from peak	-3.41%	-2.97%	-0.44%
Average Drawdown Average peak-to-trough decline	-2.67%	-2.51%	-0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	2.23%	+0.79%

Volatility

NANC vs. TSPY - Volatility Comparison

Unusual Whales Subversive Democratic Trading ETF (NANC) has a higher volatility of 5.88% compared to TappAlpha S&P 500 Growth & Daily Income ETF (TSPY) at 4.57%. This indicates that NANC's price experiences larger fluctuations and is considered to be riskier than TSPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NANC	TSPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.88%	4.57%	+1.31%
Volatility (6M) Calculated over the trailing 6-month period	11.52%	9.61%	+1.91%
Volatility (1Y) Calculated over the trailing 1-year period	14.44%	12.35%	+2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.87%	16.13%	+0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.87%	16.13%	+0.74%

NANC vs. TSPY - Expense Ratio Comparison

NANC has a 0.72% expense ratio, which is higher than TSPY's 0.68% expense ratio.

Dividends

NANC vs. TSPY - Dividend Comparison

NANC's dividend yield for the trailing twelve months is around 0.20%, less than TSPY's 14.08% yield.

Position	TTM	2025	2024	2023
NANC Unusual Whales Subversive Democratic Trading ETF	0.20%	0.21%	0.20%	0.94%
TSPY TappAlpha S&P 500 Growth & Daily Income ETF	14.08%	13.69%	3.45%	0.00%

Frequently Asked Questions

Can I hold both NANC and TSPY in my portfolio?

With a correlation of 0.90, NANC and TSPY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NANC or TSPY?

NANC has higher volatility (5.88%) compared to TSPY (4.57%). In terms of maximum drawdown, NANC dropped -20.94% vs TSPY's -18.02%.

Which ETF is better, NANC or TSPY?

On 1-year performance, TSPY leads with 22.21% vs 21.34% for NANC. On fees, TSPY is cheaper at 0.68% per year. On volatility, TSPY has been the lower-risk option at 4.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NANC or TSPY?

Over the 1-year period, TSPY has performed better with a 22.21% return vs 21.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NANC or TSPY?

TSPY is cheaper with a 0.68% expense ratio, compared with 0.72% for NANC.

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

TSPY has the higher dividend yield at 14.08%, compared with 0.20% for NANC.

What is the main difference between NANC and TSPY?

NANC is categorized as Large Cap Blend Equities, while TSPY is Derivative Income. They also come from different issuers: Subversive and TappAlpha. Their fees differ too: 0.72% for NANC and 0.68% for TSPY.

Which has better risk-adjusted returns?

TSPY currently has the higher Sharpe Ratio (1.81 vs 1.49), 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.