TDSB vs. ARP

Last updated Jun 23, 2026

TDSB (Cabana Target Drawdown 7 ETF) and ARP (Pmv Adaptive Risk Parity ETF) are both Tactical Allocation funds. Both are actively managed. Over the past 3 years, TDSB returned 8.59%/yr vs 14.35%/yr for ARP. A 0.56 correlation means they provide meaningful diversification when combined. TDSB charges 0.69%/yr vs 1.42%/yr for ARP.

Performance

TDSB vs. ARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cabana Target Drawdown 7 ETF (TDSB) and Pmv Adaptive Risk Parity ETF (ARP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TDSB achieves a 3.51% return, which is significantly lower than ARP's 8.51% return.

TDSB

• 1D: -0.16%
• 1M: -1.10%
• YTD: 3.51%
• 6M: 3.34%
• 1Y: 13.33%
• 3Y*: 8.59%
• 5Y*: 1.93%
• 10Y*: —

ARP

• 1D: -0.18%
• 1M: -1.63%
• YTD: 8.51%
• 6M: 7.32%
• 1Y: 23.54%
• 3Y*: 14.35%
• 5Y*: —
• 10Y*: —

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

TDSB vs. ARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TDSB Cabana Target Drawdown 7 ETF	3.51%	12.95%	3.56%	4.71%	-0.58%
ARP Pmv Adaptive Risk Parity ETF	8.51%	18.33%	13.79%	3.66%	-0.82%

Correlation

The correlation between TDSB and ARP is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	0.56

Over the past year, TDSB and ARP have become more correlated (0.80) than their long-term average of 0.56, meaning their price movements have been converging.

Return for Risk

TDSB vs. ARP — Risk / Return Rank

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

TDSB

TDSB Risk / Return Rank: 65
TDSB Sharpe Ratio Rank: 67
TDSB Sortino Ratio Rank: 65
TDSB Omega Ratio Rank: 70
TDSB Calmar Ratio Rank: 60
TDSB Martin Ratio Rank: 62

ARP

ARP Risk / Return Rank: 49
ARP Sharpe Ratio Rank: 49
ARP Sortino Ratio Rank: 42
ARP Omega Ratio Rank: 55
ARP Calmar Ratio Rank: 48
ARP Martin Ratio Rank: 51

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.

TDSB vs. ARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cabana Target Drawdown 7 ETF (TDSB) and Pmv Adaptive Risk Parity ETF (ARP). 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.

	TDSB	ARP	Difference
Sharpe ratio: Return per unit of total volatility	2.12	1.65	+0.48
Sortino ratio: Return per unit of downside risk	2.89	2.09	+0.80
Omega ratio: Gain probability vs. loss probability	1.40	1.33	+0.07
Calmar ratio: Return relative to maximum drawdown	2.88	2.34	+0.55
Martin ratio: Return relative to average drawdown	10.87	8.49	+2.38

TDSB vs. ARP - Sharpe Ratio Comparison

The current TDSB Sharpe Ratio is 2.12, which is comparable to the ARP Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of TDSB and ARP, 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

TDSB vs. ARP - Drawdown Comparison

The maximum TDSB drawdown since its inception was -19.56%, which is greater than ARP's maximum drawdown of -10.13%. Use the drawdown chart below to compare losses from any high point for TDSB and ARP.

Drawdown Indicators

	TDSB	ARP	Difference
Max Drawdown Largest peak-to-trough decline	-19.56%	-10.13%	-9.43%
Max Drawdown (1Y) Largest decline over 1 year	-4.64%	-10.13%	+5.49%
Max Drawdown (3Y) Largest decline over 3 years	-6.84%	-10.13%	+3.29%
Max Drawdown (5Y) Largest decline over 5 years	-19.56%	—	—
Current Drawdown Current decline from peak	-1.88%	-3.05%	+1.17%
Average Drawdown Average peak-to-trough decline	-9.07%	-1.84%	-7.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.23%	2.78%	-1.55%

Volatility

TDSB vs. ARP - Volatility Comparison

The current volatility for Cabana Target Drawdown 7 ETF (TDSB) is 2.27%, while Pmv Adaptive Risk Parity ETF (ARP) has a volatility of 5.20%. This indicates that TDSB experiences smaller price fluctuations and is considered to be less risky than ARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TDSB	ARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.27%	5.20%	-2.93%
Volatility (6M) Calculated over the trailing 6-month period	5.37%	12.68%	-7.31%
Volatility (1Y) Calculated over the trailing 1-year period	6.32%	14.40%	-8.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.36%	10.33%	-2.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.55%	10.33%	-2.78%

TDSB vs. ARP - Expense Ratio Comparison

TDSB has a 0.69% expense ratio, which is lower than ARP's 1.42% expense ratio.

Dividends

TDSB vs. ARP - Dividend Comparison

TDSB's dividend yield for the trailing twelve months is around 2.15%, less than ARP's 6.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
ARP Pmv Adaptive Risk Parity ETF	6.03%	6.54%	5.29%	2.67%	0.06%	0.00%	0.00%
TDSB Cabana Target Drawdown 7 ETF	2.15%	1.93%	3.50%	2.77%	1.81%	1.75%	0.46%

Frequently Asked Questions

Can I hold both TDSB and ARP in my portfolio?

TDSB and ARP have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TDSB or ARP?

ARP has higher volatility (5.20%) compared to TDSB (2.27%). In terms of maximum drawdown, TDSB dropped -19.56% vs ARP's -10.13%.

Which ETF is better, TDSB or ARP?

On 3-year performance, ARP leads with 14.35% vs 8.59% for TDSB. On fees, TDSB is cheaper at 0.69% per year. On volatility, TDSB has been the lower-risk option at 2.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TDSB or ARP?

Over the 3-year period, ARP has performed better with a 14.35% return vs 8.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TDSB or ARP?

TDSB is cheaper with a 0.69% expense ratio, compared with 1.42% for ARP.

Which ETF pays a higher dividend yield, TDSB or ARP?

ARP has the higher dividend yield at 6.03%, compared with 2.15% for TDSB.

What is the main difference between TDSB and ARP?

They also come from different issuers: Exchange Traded Concepts and PMV. Their fees differ too: 0.69% for TDSB and 1.42% for ARP.

Which has better risk-adjusted returns?

TDSB currently has the higher Sharpe Ratio (2.12 vs 1.65), 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.