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Launched · SEC filings

Tidal Trust II Grizzle Growth ETF

DARPNYSE ArcaD

$51.95−1.52 (−2.84%)

As of Nov 2, 2026, 3:59 PM ET

D39/ 100

Rank 23 of 30 in Disruptive Innovation

D39/100Rank 23 of 30inDisruptive Innovation
Intraday session: down, 78 prints from 53.47 to 51.95. Range 51.95 to 53.89. Use the arrow keys to read each point.52.5053.0054.0010 AM12 PM2 PM4 PM
Expense ratio
0.75%
Fund size
$41M
1Y total return
+19.4%
Yield · Last 12 months
0.37%
Holdings
46
Avg volume · 30D
7.52K sh
52W range
low $40.40high $61.76
Launched
Filings
SEC EDGAR

The ETF.net DARP Grade

D

Score 39 out of 100

Category
Disruptive Innovation⁠
Rank
23 of 30
Six-pillar profile for DARP. Scores out of 100: Cost 22, Risk 63, Mission 43, Tradability 56, Holdings 39, Durability 24. Strongest: Risk (63). Weakest: Cost (22). Leans toward Risk.

Score 39 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F22 out of 100
    Rank 20 of 30

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    C43 out of 100
    Rank 9 of 10

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B63 out of 100
    Rank 9 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B56 out of 100
    Rank 11 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D39 out of 100
    Rank 22 of 30

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F24 out of 100
    Rank 27 of 30

Our read on DARP

ETF.net Research

In short

DThe ticker is the thesis: disruption at a reasonable price. Two founder-managers run a concentrated global book of 30 to 60 innovation names screened on valuation, in a corner of the market where most rivals simply track a theme index.

Stated mandate

The Fund seeks long-term capital appreciation through an actively managed portfolio of equity securities focused on growth, innovation, and disruption.

Why people hold it

  • Valuation discipline is baked into the name: DARP targets disruption at a reasonable price, aiming at companies whose revenue and earnings can outgrow the broad market.grizzle.com
  • Genuinely active, not an index in costume: a non-diversified portfolio of 30 to 60 global stocks of any market cap, chosen by the two founders of the sub-adviser.grizzle.com
  • Spreads its bets across four themes (cloud and digitization, future media, health and wellness, energy transition) instead of living or dying by one sector.grizzle.com
  • The managers show their work: fund letters, a factsheet and a strategy whitepaper sit on the fund's own site.grizzle.com

Worth knowing

  • At 0.75% a year, it costs more than the 0.65% typical of its innovation peers, and well above index-based rivals like KOMP (0.20%) and XT (0.46%).
  • A small fund that trades lightly, so bid-ask spreads can run wider than at the category's household names.
  • Concentrated (roughly 40 holdings) and non-diversified, so individual positions carry real weight, and cash comes back once or twice a year rather than quarterly.grizzle.com

DARP Performance

Launched Dec 17, 2021

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
DARP$11,936
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. DARP $11,936. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DARP. Periods over one year show the average yearly return.
PeriodDARP
Year to date+18.3%
1 month−7.8%
3 months−2.3%
1 year+19.4%
3 yearsper year+32.5%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DARP
YearReturn barDARP
2026 YTD+18.3%
2025+40.2%
2024+24.6%
2023+33.3%
2022−19.9%
2021+0.4%

Since listing, Dec 17, 2021

DARP in the news

DARP Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
0.37%Last 12 months
Payout per share
$0.20Last 12 months
Last payment
$0.20 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2022–2026

One bar per payment. 4 payments from 2022 to 2026 YTD. Dec 23, 2022 $0.29; Dec 22, 2023 $0.09; Dec 23, 2024 $0.62; Dec 29, 2025 $0.20. Use the arrow keys to read each point.20222023202420252026YTD
Ex-datePay dateAmount per share
Dec 29, 2025Dec 30, 2025$0.20
Dec 23, 2024Dec 26, 2024$0.62
Dec 22, 2023Dec 27, 2023$0.09
Dec 23, 2022Dec 28, 2022$0.29

$10,000 in DARP 3 years ago paid $366 in dividends.

DARP Risk

Risk pillarB63 out of 100Rank 9 of 30 in Disruptive Innovation
How much the fund’s monthly returns vary, scaled to a year.
22.0%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.20
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−30.3%
58 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.24
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

DARP Cost

Compare DARP and KOMP

Overpaying vs KOMP, cheapest in Disruptive Innovation

$10,327

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DARP 0.75%

    $14,482

  • KOMP 0.20% Cheapest

    $4,155

$10,000
30 years

Cost over time

  • DARP 0.75%
  • KOMP 0.20%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530DARP $14,482KOMP $4,155

Year by year

YearDARPKOMPOverpaying
10$1,336$365$971
20$5,078$1,421$3,657
30$14,482$4,155$10,327

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