THIR vs. ARP

Last updated Aug 2, 2026

THIR (THOR Index Rotation ETF) and ARP (PMV Adaptive Risk Parity ETF) are both Tactical Allocation funds. THIR is passively managed, while ARP is actively managed. Over the past year, THIR returned 14.97% vs 22.60% for ARP. Their 0.60 correlation means they have sometimes moved together and sometimes differently. THIR charges 0.70%/yr vs 1.42%/yr for ARP.

Performance

THIR vs. ARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in THOR Index Rotation ETF (THIR) 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, THIR achieves a 3.97% return, which is significantly lower than ARP's 8.24% return.

THIR

• 1D: 0.54%
• 1M: -2.08%
• 6M: 2.38%
• YTD: 3.97%
• 1Y: 14.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 17.31%

ARP

• 1D: 0.13%
• 1M: 1.65%
• 6M: 2.24%
• YTD: 8.24%
• 1Y: 22.60%
• 3Y*: 13.08%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.87%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ARP PMV Adaptive Risk Parity ETF	$115.46K	$121.20K	$189.42K
THIR THOR Index Rotation ETF	$834.89K	$1.75M	$1.80M

THIR vs. ARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
THIR THOR Index Rotation ETF	3.97%	25.22%	3.16%
ARP PMV Adaptive Risk Parity ETF	8.24%	18.33%	-0.47%

Correlation

The correlation between THIR and ARP 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 (All Time) Calculated using the full available price history since Sep 24, 2024	0.60

The correlation between THIR and ARP has been stable across timeframes, ranging from 0.60 to 0.67 - a consistent structural relationship.

THIR vs. ARP - Sectors Allocation Comparison

Sectors	THIR	ARP
Technology	38.1%	39.5%
Financial Services	12.9%	11.0%
Consumer Cyclical	10.2%	9.4%
Industrials	9.9%	9.7%
Communication Services	9.5%	8.9%
Healthcare	8.7%	6.0%
Consumer Defensive	5.0%	5.6%
Basic Materials	2.2%	3.8%
Energy	1.8%	2.7%
Utilities	1.2%	2.1%
Real Estate	0.6%	1.3%

Return for Risk

THIR vs. ARP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

THIR

THIR Risk / Return Rank: 41
THIR Sharpe Ratio Rank: 41
THIR Sortino Ratio Rank: 39
THIR Omega Ratio Rank: 39
THIR Calmar Ratio Rank: 42
THIR Martin Ratio Rank: 43

ARP

ARP Risk / Return Rank: 63
ARP Sharpe Ratio Rank: 65
ARP Sortino Ratio Rank: 56
ARP Omega Ratio Rank: 70
ARP Calmar Ratio Rank: 64
ARP Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

THIR vs. ARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for THOR Index Rotation ETF (THIR) 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.

	THIR	ARP	Difference
Sharpe ratio: Return per unit of total volatility	1.01	1.50	-0.49
Sortino ratio: Return per unit of downside risk	1.46	1.94	-0.48
Omega ratio: Gain probability vs. loss probability	1.18	1.29	-0.11
Calmar ratio: Return relative to maximum drawdown	1.50	2.23	-0.73
Martin ratio: Return relative to average drawdown	4.78	7.39	-2.61

THIR vs. ARP - Sharpe Ratio Comparison

The current THIR Sharpe Ratio is 1.01, which is lower than the ARP Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of THIR 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

THIR vs. ARP - Drawdown Comparison

The maximum THIR drawdown since its inception was -10.05%, roughly equal to the maximum ARP drawdown of -10.13%. Use the drawdown chart below to compare losses from any high point for THIR and ARP.

Drawdown Indicators

	THIR	ARP	Difference
Max Drawdown Largest peak-to-trough decline	-10.05%	-10.13%	+0.08%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-10.13%	+1.25%
Max Drawdown (3Y) Largest decline over 3 years	—	-10.13%	—
Current Drawdown Current decline from peak	-4.29%	-3.29%	-1.00%
Average Drawdown Average peak-to-trough decline	-2.07%	-1.90%	-0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.78%	3.05%	-0.27%

Volatility

THIR vs. ARP - Volatility Comparison

THOR Index Rotation ETF (THIR) and PMV Adaptive Risk Parity ETF (ARP) have volatilities of 3.90% and 3.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THIR	ARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	3.87%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	10.53%	13.00%	-2.47%
Volatility (1Y) Calculated over the trailing 1-year period	13.19%	15.06%	-1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.27%	10.51%	+2.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.27%	10.51%	+2.76%

THIR vs. ARP - Expense Ratio Comparison

THIR has a 0.70% expense ratio, which is lower than ARP's 1.42% expense ratio.

Dividends

THIR vs. ARP - Dividend Comparison

THIR's dividend yield for the trailing twelve months is around 0.34%, less than ARP's 6.04% yield.

Position	TTM	2025	2024	2023	2022
ARP PMV Adaptive Risk Parity ETF	6.04%	6.54%	5.29%	2.67%	0.06%
THIR THOR Index Rotation ETF	0.34%	0.35%	0.29%	0.00%	0.00%

Frequently Asked Questions

Can I hold both THIR and ARP in my portfolio?

THIR and ARP 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.

Which is riskier, THIR or ARP?

THIR has higher volatility (3.90%) compared to ARP (3.87%). In terms of maximum drawdown, THIR dropped -10.05% vs ARP's -10.13%.

Which ETF is better, THIR or ARP?

On 1-year performance, ARP leads with 22.60% vs 14.97% for THIR. On fees, THIR is cheaper at 0.70% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, THIR or ARP?

Over the 1-year period, ARP has performed better with a 22.60% return vs 14.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, THIR or ARP?

THIR is cheaper with a 0.70% expense ratio, compared with 1.42% for ARP.

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

ARP has the higher dividend yield at 6.04%, compared with 0.34% for THIR.

What is the main difference between THIR and ARP?

They also come from different issuers: THOR and PMV. Their fees differ too: 0.70% for THIR and 1.42% for ARP.

Which has better risk-adjusted returns?

ARP currently has the higher Sharpe Ratio (1.50 vs 1.01), 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.