UPAR vs. DRAI

Last updated Jun 24, 2026

UPAR (UPAR Ultra Risk Parity ETF) and DRAI (Draco Evolution AI ETF) are both Diversified Portfolio funds. UPAR is passively managed, while DRAI is actively managed. Over the past year, UPAR returned 21.58% vs 31.17% for DRAI. A 0.55 correlation means they provide meaningful diversification when combined. UPAR charges 0.65%/yr vs 1.50%/yr for DRAI.

Performance

UPAR vs. DRAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UPAR Ultra Risk Parity ETF (UPAR) and Draco Evolution AI ETF (DRAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UPAR achieves a 6.27% return, which is significantly lower than DRAI's 11.60% return.

UPAR

• 1D: -1.50%
• 1M: -1.15%
• YTD: 6.27%
• 6M: 5.99%
• 1Y: 21.58%
• 3Y*: 9.14%
• 5Y*: —
• 10Y*: —

DRAI

• 1D: -2.85%
• 1M: -3.93%
• YTD: 11.60%
• 6M: 10.08%
• 1Y: 31.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UPAR vs. DRAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
UPAR UPAR Ultra Risk Parity ETF	6.27%	23.87%	-4.10%
DRAI Draco Evolution AI ETF	11.60%	33.68%	-6.79%

Correlation

The correlation between UPAR and DRAI is 0.61, 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	0.61
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024	0.55

The correlation between UPAR and DRAI has been stable across timeframes, ranging from 0.55 to 0.61 - a consistent structural relationship.

Return for Risk

UPAR vs. DRAI — Risk / Return Rank

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

UPAR

UPAR Risk / Return Rank: 43
UPAR Sharpe Ratio Rank: 46
UPAR Sortino Ratio Rank: 42
UPAR Omega Ratio Rank: 44
UPAR Calmar Ratio Rank: 41
UPAR Martin Ratio Rank: 40

DRAI

DRAI Risk / Return Rank: 71
DRAI Sharpe Ratio Rank: 69
DRAI Sortino Ratio Rank: 63
DRAI Omega Ratio Rank: 73
DRAI Calmar Ratio Rank: 85
DRAI Martin Ratio Rank: 66

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.

UPAR vs. DRAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UPAR Ultra Risk Parity ETF (UPAR) and Draco Evolution AI ETF (DRAI). 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.

	UPAR	DRAI	Difference
Sharpe ratio: Return per unit of total volatility	1.51	2.05	-0.53
Sortino ratio: Return per unit of downside risk	2.04	2.70	-0.66
Omega ratio: Gain probability vs. loss probability	1.27	1.39	-0.12
Calmar ratio: Return relative to maximum drawdown	1.95	4.34	-2.39
Martin ratio: Return relative to average drawdown	5.94	11.15	-5.21

UPAR vs. DRAI - Sharpe Ratio Comparison

The current UPAR Sharpe Ratio is 1.51, which is comparable to the DRAI Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of UPAR and DRAI, 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

UPAR vs. DRAI - Drawdown Comparison

The maximum UPAR drawdown since its inception was -39.54%, which is greater than DRAI's maximum drawdown of -13.69%. Use the drawdown chart below to compare losses from any high point for UPAR and DRAI.

Drawdown Indicators

	UPAR	DRAI	Difference
Max Drawdown Largest peak-to-trough decline	-39.54%	-13.69%	-25.85%
Max Drawdown (1Y) Largest decline over 1 year	-11.13%	-7.22%	-3.91%
Max Drawdown (3Y) Largest decline over 3 years	-18.73%	—	—
Current Drawdown Current decline from peak	-7.23%	-6.30%	-0.93%
Average Drawdown Average peak-to-trough decline	-22.24%	-4.09%	-18.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.64%	2.80%	+0.84%

Volatility

UPAR vs. DRAI - Volatility Comparison

The current volatility for UPAR Ultra Risk Parity ETF (UPAR) is 5.61%, while Draco Evolution AI ETF (DRAI) has a volatility of 7.37%. This indicates that UPAR experiences smaller price fluctuations and is considered to be less risky than DRAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UPAR	DRAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.61%	7.37%	-1.76%
Volatility (6M) Calculated over the trailing 6-month period	12.33%	12.03%	+0.30%
Volatility (1Y) Calculated over the trailing 1-year period	14.33%	15.40%	-1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.10%	17.29%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.10%	17.29%	+0.81%

UPAR vs. DRAI - Expense Ratio Comparison

UPAR has a 0.65% expense ratio, which is lower than DRAI's 1.50% expense ratio.

Dividends

UPAR vs. DRAI - Dividend Comparison

UPAR's dividend yield for the trailing twelve months is around 2.72%, more than DRAI's 1.38% yield.

Position	TTM	2025	2024	2023	2022
DRAI Draco Evolution AI ETF	1.38%	1.48%	2.18%	0.00%	0.00%
UPAR UPAR Ultra Risk Parity ETF	2.72%	3.28%	3.32%	3.04%	4.73%

Frequently Asked Questions

Can I hold both UPAR and DRAI in my portfolio?

UPAR and DRAI have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UPAR or DRAI?

DRAI has higher volatility (7.37%) compared to UPAR (5.61%). In terms of maximum drawdown, UPAR dropped -39.54% vs DRAI's -13.69%.

Which ETF is better, UPAR or DRAI?

On 1-year performance, DRAI leads with 31.17% vs 21.58% for UPAR. On fees, UPAR is cheaper at 0.65% per year. On volatility, UPAR has been the lower-risk option at 5.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UPAR or DRAI?

Over the 1-year period, DRAI has performed better with a 31.17% return vs 21.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UPAR or DRAI?

UPAR is cheaper with a 0.65% expense ratio, compared with 1.50% for DRAI.

Which ETF pays a higher dividend yield, UPAR or DRAI?

UPAR has the higher dividend yield at 2.72%, compared with 1.38% for DRAI.

What is the main difference between UPAR and DRAI?

They also come from different issuers: RPAR and Draco Evolution. Their fees differ too: 0.65% for UPAR and 1.50% for DRAI.

Which has better risk-adjusted returns?

DRAI currently has the higher Sharpe Ratio (2.05 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.