TDSC vs. ARP

Last updated Jun 23, 2026

TDSC (Cabana Target Drawdown 10 ETF) and ARP (Pmv Adaptive Risk Parity ETF) are both Tactical Allocation funds. Both are actively managed. Over the past 3 years, TDSC returned 10.86%/yr vs 14.35%/yr for ARP. A 0.69 correlation means they provide meaningful diversification when combined. TDSC charges 0.69%/yr vs 1.42%/yr for ARP.

Performance

TDSC vs. ARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cabana Target Drawdown 10 ETF (TDSC) 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, TDSC achieves a 9.91% return, which is significantly higher than ARP's 8.51% return.

TDSC

• 1D: 0.15%
• 1M: -0.47%
• YTD: 9.91%
• 6M: 9.37%
• 1Y: 18.66%
• 3Y*: 10.86%
• 5Y*: 2.90%
• 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)

TDSC vs. ARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TDSC Cabana Target Drawdown 10 ETF	9.91%	6.56%	7.10%	7.63%	0.01%
ARP Pmv Adaptive Risk Parity ETF	8.51%	18.33%	13.79%	3.66%	-0.82%

Correlation

The correlation between TDSC and ARP 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 (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	0.69

The correlation between TDSC and ARP has been stable across timeframes, ranging from 0.69 to 0.76 - a consistent structural relationship.

Return for Risk

TDSC vs. ARP — Risk / Return Rank

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

TDSC

TDSC Risk / Return Rank: 65
TDSC Sharpe Ratio Rank: 63
TDSC Sortino Ratio Rank: 61
TDSC Omega Ratio Rank: 60
TDSC Calmar Ratio Rank: 72
TDSC Martin Ratio Rank: 72

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.

TDSC vs. ARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cabana Target Drawdown 10 ETF (TDSC) 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.

	TDSC	ARP	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.65	+0.35
Sortino ratio: Return per unit of downside risk	2.75	2.09	+0.67
Omega ratio: Gain probability vs. loss probability	1.35	1.33	+0.02
Calmar ratio: Return relative to maximum drawdown	3.51	2.34	+1.17
Martin ratio: Return relative to average drawdown	13.06	8.49	+4.57

TDSC vs. ARP - Sharpe Ratio Comparison

The current TDSC Sharpe Ratio is 2.00, which is comparable to the ARP Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of TDSC 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

TDSC vs. ARP - Drawdown Comparison

The maximum TDSC drawdown since its inception was -21.51%, which is greater than ARP's maximum drawdown of -10.13%. Use the drawdown chart below to compare losses from any high point for TDSC and ARP.

Drawdown Indicators

	TDSC	ARP	Difference
Max Drawdown Largest peak-to-trough decline	-21.51%	-10.13%	-11.38%
Max Drawdown (1Y) Largest decline over 1 year	-5.35%	-10.13%	+4.78%
Max Drawdown (3Y) Largest decline over 3 years	-14.24%	-10.13%	-4.11%
Max Drawdown (5Y) Largest decline over 5 years	-21.51%	—	—
Current Drawdown Current decline from peak	-1.64%	-3.05%	+1.41%
Average Drawdown Average peak-to-trough decline	-9.32%	-1.84%	-7.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.43%	2.78%	-1.35%

Volatility

TDSC vs. ARP - Volatility Comparison

The current volatility for Cabana Target Drawdown 10 ETF (TDSC) is 3.58%, while Pmv Adaptive Risk Parity ETF (ARP) has a volatility of 5.20%. This indicates that TDSC 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

	TDSC	ARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	5.20%	-1.62%
Volatility (6M) Calculated over the trailing 6-month period	7.26%	12.68%	-5.42%
Volatility (1Y) Calculated over the trailing 1-year period	9.39%	14.40%	-5.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.37%	10.33%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.27%	10.33%	-0.06%

TDSC vs. ARP - Expense Ratio Comparison

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

Dividends

TDSC vs. ARP - Dividend Comparison

TDSC's dividend yield for the trailing twelve months is around 2.03%, 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%
TDSC Cabana Target Drawdown 10 ETF	2.03%	2.92%	2.06%	2.06%	1.76%	1.11%	0.54%

Frequently Asked Questions

Can I hold both TDSC and ARP in my portfolio?

TDSC and ARP 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, TDSC or ARP?

ARP has higher volatility (5.20%) compared to TDSC (3.58%). In terms of maximum drawdown, TDSC dropped -21.51% vs ARP's -10.13%.

Which ETF is better, TDSC or ARP?

On 3-year performance, ARP leads with 14.35% vs 10.86% for TDSC. On fees, TDSC is cheaper at 0.69% per year. On volatility, TDSC has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TDSC or ARP?

Over the 3-year period, ARP has performed better with a 14.35% return vs 10.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TDSC or ARP?

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

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

ARP has the higher dividend yield at 6.03%, compared with 2.03% for TDSC.

What is the main difference between TDSC and ARP?

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

Which has better risk-adjusted returns?

TDSC currently has the higher Sharpe Ratio (2.00 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.