UPAR Ultra Risk Parity ETF
$15.14+0.09 (+0.58%)
- 0.68%
- $53M
- +2.5%
- 3.43%
- 0M sh
- $14.95
- low $14.77high $17.71
The ETF.net UPAR Grade
C
Score 39 out of 100
- 12 of 19
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. The letter stays C for now. A new letter must hold for 3 published runs before it replaces it.
Cost
The fund’s net expense ratio, ranked against its category.C47 out of 100Rank 10 of 19Mission
Whether the fund did what it promised, tested against its stated mandate.A78 out of 100Rank 4 of 8Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D36 out of 100Rank 15 of 18Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F18 out of 100Rank 17 of 19Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C53 out of 100Rank 7 of 13Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C48 out of 100Rank 12 of 19
Our read on UPAR
CRisk 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
- Stocks
- 153
- 62%
- TYZ6 Comdty
Sectors
- Technology20.2%
- Materials17.9%
- Energy16.7%
- Industrials12.7%
- Financials10.8%
- Consumer Discretionary5.5%
- Health Care5.1%
- Communication4.3%
- Consumer Staples3.5%
- Utilities1.9%
- Real Estate1.3%
Geography
- United States74.03%
- United Kingdom6.35%
- Canada4.42%
- Australia4.12%
- China1.45%
- Switzerland1.37%
- France1.30%
- Norway1.30%
- 5.68%
UPAR Performance
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.
UPAR$10,246
Returns run to the Oct 12, 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 | +0.3% |
| 1 month | −4.8% |
| 3 months | −5.0% |
| 1 year | +2.5% |
| 3 years | +12.4% |
| 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 | +0.3% | |
| 2025 | +23.9% | |
| 2024 | −2.2% | |
| 2023 | +5.7% | |
| 2022 | −30.3% |
UPAR in the news
UPAR Dividends
- 3.43%
- $0.52
- $0.11 per share
- Quarterly
Distribution history
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.
- 0.45
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
0.68%
UPAR0.68%
- The middle half of Capital-Efficient Allocation funds
- Median 0.67%
10 of the 19 Capital-Efficient Allocation funds charge less.
Other funds in Capital-Efficient Allocation
- CRSSTReturn Stacked U.S. Stocks & Managed Futures ETFExpense ratio 0.99%1 year return +42.3%
- DRSSXTidal Trust II - Return Stacked U.S. Stocks & Gold/Bitcoin ETFExpense ratio 0.67%1 year return +8.3%
- DRSITTidal Trust II - Return Stacked International Stocks & Managed Futures ETFExpense ratio 0.98%1 year return —
- DRSBTReturn Stacked Bonds & Managed Futures ETFExpense ratio 1.01%1 year return +16.1%
- DRSBATidal Trust II - Return Stacked Bonds & Merger Arbitrage ETFExpense ratio 1.01%1 year return −3.8%