RPAR vs. DALI
RPAR (RPAR Risk Parity ETF) and DALI (First Trust Dorsey Wright DALI 1 ETF) are both exchange-traded funds - RPAR is a Global Allocation fund actively managed by Toroso Investments, while DALI is a Tactical Allocation fund tracking the Dorsey Wright DALI 1 Index. RPAR is actively managed, while DALI is passively managed. Over the past 5 years, RPAR returned 0.20%/yr vs 3.10%/yr for DALI. Their 0.45 correlation means their historical movements had little consistent relationship. RPAR charges 0.51%/yr vs 0.90%/yr for DALI.
Performance
RPAR vs. DALI - Performance Comparison
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Returns By Period
In the year-to-date period, RPAR achieves a 2.65% return, which is significantly higher than DALI's -1.39% return.
RPAR
- 1D
- -0.55%
- 1M
- -1.99%
- 6M
- -1.98%
- YTD
- 2.65%
- 1Y
- 11.54%
- 3Y*
- 7.20%
- 5Y*
- 0.20%
- 10Y*
- —
- ALL TIME*
- 3.72%
DALI
- 1D
- -0.23%
- 1M
- -3.95%
- 6M
- -5.72%
- YTD
- -1.39%
- 1Y
- 7.11%
- 3Y*
- 2.42%
- 5Y*
- 3.10%
- 10Y*
- —
- ALL TIME*
- 5.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $213.89K | $145.17K | $223.57K | |
| $342.76K | $300.17K | $486.62K |
RPAR vs. DALI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RPAR RPAR Risk Parity ETF | 2.65% | 17.91% | 0.06% | 6.03% | -22.82% | 7.56% | 19.40% | 0.13% |
DALI First Trust Dorsey Wright DALI 1 ETF | -1.39% | 11.89% | 19.93% | -8.48% | -8.10% | 22.28% | 4.51% | 2.43% |
Correlation
The correlation between RPAR and DALI is 0.67, 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. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.53 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.47 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2019 | 0.45 |
Over the past year, RPAR and DALI have become more correlated (0.67) than their long-term average of 0.45, meaning their price movements have been converging.
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Return for Risk
RPAR vs. DALI — Risk / Return Rank
RPAR
DALI
RPAR vs. DALI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for RPAR Risk Parity ETF (RPAR) and First Trust Dorsey Wright DALI 1 ETF (DALI). 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.
| RPAR | DALI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.87 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.06 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 0.42 | +1.07 |
| Martin ratioReturn relative to average drawdown | 3.68 | 1.21 | +2.48 |
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Drawdowns
RPAR vs. DALI - Drawdown Comparison
The maximum RPAR drawdown since its inception was -30.16%, smaller than the maximum DALI drawdown of -36.06%. Use the drawdown chart below to compare losses from any high point for RPAR and DALI.
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Drawdown Indicators
| RPAR | DALI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.16% | -36.06% | +5.90% |
Max Drawdown (1Y)Largest decline over 1 year | -8.10% | -12.54% | +4.44% |
Max Drawdown (3Y)Largest decline over 3 years | -11.26% | -23.30% | +12.04% |
Max Drawdown (5Y)Largest decline over 5 years | -30.16% | -26.26% | -3.90% |
Current DrawdownCurrent decline from peak | -7.05% | -9.75% | +2.70% |
Average DrawdownAverage peak-to-trough decline | -11.46% | -10.07% | -1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 4.38% | -1.11% |
Volatility
RPAR vs. DALI - Volatility Comparison
The current volatility for RPAR Risk Parity ETF (RPAR) is 2.71%, while First Trust Dorsey Wright DALI 1 ETF (DALI) has a volatility of 6.04%. This indicates that RPAR experiences smaller price fluctuations and is considered to be less risky than DALI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RPAR | DALI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.71% | 6.04% | -3.33% |
Volatility (6M)Calculated over the trailing 6-month period | 8.90% | 16.37% | -7.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.56% | 19.29% | -8.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.50% | 19.97% | -7.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.65% | 20.98% | -8.33% |
RPAR vs. DALI - Expense Ratio Comparison
RPAR has a 0.51% expense ratio, which is lower than DALI's 0.90% expense ratio.
Dividends
RPAR vs. DALI - Dividend Comparison
RPAR's dividend yield for the trailing twelve months is around 2.45%, more than DALI's 1.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DALI First Trust Dorsey Wright DALI 1 ETF | 1.21% | 0.38% | 0.18% | 3.42% | 0.50% | 0.11% | 1.25% | 0.45% | 0.17% |
RPAR RPAR Risk Parity ETF | 2.45% | 2.55% | 2.51% | 3.16% | 4.01% | 2.02% | 0.76% | 0.23% | 0.00% |
Frequently Asked Questions
RPAR and DALI have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DALI has higher volatility (6.04%) compared to RPAR (2.71%). In terms of maximum drawdown, RPAR dropped -30.16% vs DALI's -36.06%.
On 5-year performance, DALI leads with 3.10% vs 0.20% for RPAR. On fees, RPAR is cheaper at 0.51% per year. On volatility, RPAR has been the lower-risk option at 2.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DALI has performed better with a 3.10% return vs 0.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RPAR is cheaper with a 0.51% expense ratio, compared with 0.90% for DALI.
RPAR has the higher dividend yield at 2.45%, compared with 1.21% for DALI.
RPAR is categorized as Global Allocation, while DALI is Tactical Allocation. They also come from different issuers: Toroso Investments and First Trust. Their fees differ too: 0.51% for RPAR and 0.90% for DALI.
RPAR currently has the higher Sharpe Ratio (1.14 vs 0.27), 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.
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