UPAR Ultra Risk Parity ETF
$15.71−0.38 (−2.39%)
- Expense ratio
- 0.68%
- Fund size
- $57M
- 1Y return
- +10.5%
- Yield · Last 12 months
- 3.33%
- Volume · 30D
- 0M sh
- NAV per share
- $15.99
- 52W range
The ETF.net UPAR Grade
Score 40 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 47Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 78Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 40Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.FScore 11Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 55Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 55Category rank
Our read on UPAR
DRisk parity built for four economic weathers, then dialed up. UPAR balances risk across global stocks, commodity producers and gold, TIPS and Treasuries, then levers the mix toward 160%-180% exposure, reset quarterly rather than daily.
The actively managed Fund seeks positive returns during economic growth, capital preservation during economic contraction, and preservation of real returns during heightened inflation.
Why people hold it
- Cheaper than the typical fund in its allocation cohort (0.68% versus a 0.78% median) for a playbook that mostly lived behind institutional doors.
- Leverage resets at each quarterly rebalance, not daily. The index targets 1.4 times the exposures of its unlevered risk-parity sibling, so day-to-day compounding is not the story.sec.gov
- Four sleeves, four jobs: equities for growth, Treasuries and TIPS for contraction, producers and gold for inflation. The lower-risk sleeves get the biggest notional weights.sec.gov
Worth knowing
- Leverage magnifies moves in both directions, and the filings say so plainly. This sits at the higher-volatility end of the allocation group.sec.gov
- Treasuries and TIPS carry the largest notional weights, so interest rate swings move this portfolio more than they would a stock-heavy allocation fund.sec.gov
- Thinly traded for its category, so spreads and limit orders matter more here than with the giant allocation funds.
UPAR Holdings
- Bonds
- —
- 62%
- TYZ6 Comdty
Sectors
- Technology18.9%
- Materials18.3%
- Energy17.2%
- Industrials12.9%
- Financials10.8%
- Consumer Discr.5.6%
- Health Care4.9%
- Communication4.4%
- Cons. Staples3.6%
- Utilities2.0%
- Real Estate1.3%
Geography
- United States74.27%
- United Kingdom6.11%
- Canada4.36%
- Australia4.03%
- China1.45%
- France1.38%
- Norway1.30%
- Switzerland1.27%
- 5.82%
UPAR Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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.
| Period | UPAR |
|---|---|
| Year to date | +6.0% |
| 1 month | −2.7% |
| 3 months | −1.7% |
| 1 year | +10.5% |
| 3 years | +12.1% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | UPAR |
|---|---|---|
| 2026 YTD | +6.0% | |
| 2025 | +23.9% | |
| 2024 | −2.2% | |
| 2023 | +5.7% | |
| 2022 | −30.3% |
UPAR in the news
ETF.net Research hasn’t filed on UPAR yet — coverage lands here as it’s written.
UPAR Dividends
- 3.33%
- $0.53
- $0.33 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 29, 2026 | Jun 30, 2026 | $0.33 |
| Mar 27, 2026 | Mar 30, 2026 | $0.03 |
| Dec 29, 2025 | Dec 30, 2025 | $0.05 |
| Sep 29, 2025 | Sep 30, 2025 | $0.13 |
| Jun 27, 2025 | Jun 30, 2025 | $0.24 |
| Mar 27, 2025 | Mar 28, 2025 | $0.09 |
| Dec 27, 2024 | Dec 31, 2024 | $0.13 |
| Sep 26, 2024 | Sep 30, 2024 | $0.06 |
| Jun 26, 2024 | Jun 28, 2024 | $0.19 |
| Mar 25, 2024 | Mar 28, 2024 | $0.05 |
| Dec 26, 2023 | Dec 29, 2023 | $0.09 |
| Sep 26, 2023 | Sep 29, 2023 | $0.11 |
UPAR Risk
- 16.4%
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.
- 0.44
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.
- −39.0%
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.
- 1.54
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
UPAR Cost
- The middle half of Capital-Efficient Allocation funds
- Median 0.67%
10 of the 19 Capital-Efficient Allocation funds charge less.