ORO vs. ASGM

Last updated Jul 11, 2026

ORO (Arrow Valtoro ETF) and ASGM (Virtus AlphaSimplex Global Macro ETF) are both Tactical Allocation funds. Both are actively managed. A 0.55 correlation means they provide meaningful diversification when combined. ORO charges 1.25%/yr vs 0.86%/yr for ASGM.

Performance

ORO vs. ASGM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arrow Valtoro ETF (ORO) and Virtus AlphaSimplex Global Macro ETF (ASGM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ORO achieves a 1.46% return, which is significantly lower than ASGM's 17.84% return.

ORO

• 1D: 0.32%
• 1M: -2.47%
• 6M: -0.92%
• YTD: 1.46%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASGM

• 1D: 0.67%
• 1M: -0.79%
• 6M: 13.88%
• YTD: 17.84%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ORO vs. ASGM - Yearly Performance Comparison

	2026 (YTD)	2025
ORO Arrow Valtoro ETF	1.46%	-9.23%
ASGM Virtus AlphaSimplex Global Macro ETF	17.84%	1.91%

Correlation

The correlation between ORO and ASGM is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 17, 2025	0.55

Return for Risk

ORO vs. ASGM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arrow Valtoro ETF (ORO) and Virtus AlphaSimplex Global Macro ETF (ASGM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

ORO vs. ASGM - Drawdown Comparison

The maximum ORO drawdown since its inception was -14.25%, which is greater than ASGM's maximum drawdown of -6.62%. Use the drawdown chart below to compare losses from any high point for ORO and ASGM.

Drawdown Indicators

	ORO	ASGM	Difference
Max Drawdown Largest peak-to-trough decline	-14.25%	-6.62%	-7.63%
Current Drawdown Current decline from peak	-11.51%	-4.33%	-7.18%
Average Drawdown Average peak-to-trough decline	-7.12%	-1.54%	-5.58%

Volatility

Volatility by Period

	ORO	ASGM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	23.17%	16.90%	+6.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.17%	16.90%	+6.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.17%	16.90%	+6.27%

ORO vs. ASGM - Expense Ratio Comparison

ORO has a 1.25% expense ratio, which is higher than ASGM's 0.86% expense ratio.

Dividends

ORO vs. ASGM - Dividend Comparison

ORO has not paid dividends to shareholders, while ASGM's dividend yield for the trailing twelve months is around 3.83%.

Position	TTM	2025
ASGM Virtus AlphaSimplex Global Macro ETF	3.83%	4.52%
ORO Arrow Valtoro ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both ORO and ASGM in my portfolio?

ORO and ASGM have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ORO or ASGM?

On fees, ASGM is cheaper at 0.86% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ORO or ASGM?

ASGM is cheaper with a 0.86% expense ratio, compared with 1.25% for ORO.

Which ETF pays a higher dividend yield, ORO or ASGM?

ASGM has the higher dividend yield at 3.83%, compared with 0.00% for ORO.

What is the main difference between ORO and ASGM?

They also come from different issuers: Arrow Funds and Virtus. Their fees differ too: 1.25% for ORO and 0.86% for ASGM.