TRPA vs. IVES

Last updated Jun 24, 2026

TRPA (Hartford AAA CLO ETF) and IVES (Dan IVES Wedbush AI Revolution ETF) are both exchange-traded funds - TRPA is a CLO fund actively managed by Hartford, while IVES is a Technology Equities fund tracking the Solactive Wedbush Artificial Intelligence Index. TRPA is actively managed, while IVES is passively managed. Over the past year, TRPA returned 5.51% vs 40.84% for IVES. At a 0.10 correlation, their price movements are largely independent. TRPA charges 0.24%/yr vs 0.75%/yr for IVES.

Performance

TRPA vs. IVES - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford AAA CLO ETF (TRPA) and Dan IVES Wedbush AI Revolution ETF (IVES). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRPA achieves a 2.30% return, which is significantly lower than IVES's 15.94% return.

TRPA

• 1D: 0.04%
• 1M: 0.50%
• YTD: 2.30%
• 6M: 2.43%
• 1Y: 5.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVES

• 1D: -2.42%
• 1M: -1.61%
• YTD: 15.94%
• 6M: 13.43%
• 1Y: 40.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TRPA vs. IVES - Yearly Performance Comparison

	2026 (YTD)	2025
TRPA Hartford AAA CLO ETF	2.30%	3.30%
IVES Dan IVES Wedbush AI Revolution ETF	15.94%	25.11%

Correlation

The correlation between TRPA and IVES is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (All Time) Calculated using the full available price history since Jun 4, 2025	0.10

Return for Risk

TRPA vs. IVES — Risk / Return Rank

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

TRPA

TRPA Risk / Return Rank: 91
TRPA Sharpe Ratio Rank: 82
TRPA Sortino Ratio Rank: 91
TRPA Omega Ratio Rank: 88
TRPA Calmar Ratio Rank: 97
TRPA Martin Ratio Rank: 97

IVES

IVES Risk / Return Rank: 40
IVES Sharpe Ratio Rank: 45
IVES Sortino Ratio Rank: 41
IVES Omega Ratio Rank: 41
IVES Calmar Ratio Rank: 37
IVES Martin Ratio Rank: 34

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.

TRPA vs. IVES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford AAA CLO ETF (TRPA) and Dan IVES Wedbush AI Revolution ETF (IVES). 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.

	TRPA	IVES	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.51	+0.88
Sortino ratio: Return per unit of downside risk	3.86	2.03	+1.84
Omega ratio: Gain probability vs. loss probability	1.49	1.26	+0.23
Calmar ratio: Return relative to maximum drawdown	9.06	1.81	+7.25
Martin ratio: Return relative to average drawdown	36.94	4.94	+31.99

TRPA vs. IVES - Sharpe Ratio Comparison

The current TRPA Sharpe Ratio is 2.39, which is higher than the IVES Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of TRPA and IVES, 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

TRPA vs. IVES - Drawdown Comparison

The maximum TRPA drawdown since its inception was -0.61%, smaller than the maximum IVES drawdown of -22.64%. Use the drawdown chart below to compare losses from any high point for TRPA and IVES.

Drawdown Indicators

	TRPA	IVES	Difference
Max Drawdown Largest peak-to-trough decline	-0.61%	-22.64%	+22.03%
Max Drawdown (1Y) Largest decline over 1 year	-0.61%	-22.64%	+22.03%
Current Drawdown Current decline from peak	0.00%	-12.17%	+12.17%
Average Drawdown Average peak-to-trough decline	-0.09%	-5.83%	+5.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.15%	8.28%	-8.13%

Volatility

TRPA vs. IVES - Volatility Comparison

The current volatility for Hartford AAA CLO ETF (TRPA) is 0.23%, while Dan IVES Wedbush AI Revolution ETF (IVES) has a volatility of 11.75%. This indicates that TRPA experiences smaller price fluctuations and is considered to be less risky than IVES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRPA	IVES	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.23%	11.75%	-11.52%
Volatility (6M) Calculated over the trailing 6-month period	1.50%	21.34%	-19.84%
Volatility (1Y) Calculated over the trailing 1-year period	2.31%	27.10%	-24.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.33%	26.66%	-24.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.33%	26.66%	-24.33%

TRPA vs. IVES - Expense Ratio Comparison

TRPA has a 0.24% expense ratio, which is lower than IVES's 0.75% expense ratio.

Dividends

TRPA vs. IVES - Dividend Comparison

TRPA's dividend yield for the trailing twelve months is around 5.17%, more than IVES's 0.36% yield.

Position	TTM	2025
IVES Dan IVES Wedbush AI Revolution ETF	0.36%	0.41%
TRPA Hartford AAA CLO ETF	5.17%	4.14%

Frequently Asked Questions

Can I hold both TRPA and IVES in my portfolio?

TRPA and IVES have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRPA or IVES?

IVES has higher volatility (11.75%) compared to TRPA (0.23%). In terms of maximum drawdown, TRPA dropped -0.61% vs IVES's -22.64%.

Which ETF is better, TRPA or IVES?

On 1-year performance, IVES leads with 40.84% vs 5.51% for TRPA. On fees, TRPA is cheaper at 0.24% per year. On volatility, TRPA has been the lower-risk option at 0.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TRPA or IVES?

Over the 1-year period, IVES has performed better with a 40.84% return vs 5.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TRPA or IVES?

TRPA is cheaper with a 0.24% expense ratio, compared with 0.75% for IVES.

Which ETF pays a higher dividend yield, TRPA or IVES?

TRPA has the higher dividend yield at 5.17%, compared with 0.36% for IVES.

What is the main difference between TRPA and IVES?

TRPA is categorized as CLO, while IVES is Technology Equities. They also come from different issuers: Hartford and Wedbush. Their fees differ too: 0.24% for TRPA and 0.75% for IVES.

Which has better risk-adjusted returns?

TRPA currently has the higher Sharpe Ratio (2.39 vs 1.51), 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.