Unusual Whales Subversive Republican Trading ETF (GOP) Performance
GOP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +17.6% since Dec 31, 2025
- 1 year
- +18.6% total return
- 3 years
- +22.3% a year
- Since first price
- +16.0% a year since 2023
GOP trailing returns vs SPY, QQQ, AGG
| Period | GOP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −4.4% | −4.4% | −1.0% | −5.0% | +0.9% |
| 3 months | −2.4% | −2.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +3.9% | +3.9% | +7.8% | +8.4% | −1.5% |
| YTD | +17.6% | +17.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +18.6% | +17.8% | +14.4% | +15.9% | −1.1% |
| 3 years | +82.8%+22.3%/yr | +78.8% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionFeb 7, 2023 | +73.6%+16.0%/yr | +69.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: GOP vs SPY
From Feb 7, 2023: GOP grew to $17,357, SPY to $19,190.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
GOP returns by calendar year
2 of 2 full years positive. Best 2025 (+17.1%), worst 2024 (+14.4%). 2026 is year to date.
GOP annual returns table
| Year | GOP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +17.6% | −6.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +17.1% | −20.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +14.4% | −8.0% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
GOP largest drawdowns
Now 6.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 21, 2025 | −20.7% | Apr 8, 2025 | Jun 27, 2025 | 3 months | 5 months |
| Aug 1, 2023 | −10.0% | Oct 27, 2023 | Dec 1, 2023 | 3 months | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
GOP risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +22.6% | +18.9% |
| Volatility (annualized) | 13.3% | 13.2% |
| Sharpe ratio | 1.28 | 1.04 |
| Sortino ratio | 2.68 | 2.10 |
| Best month | +13.1% | +13.1% |
| Worst month | −5.8% | −5.8% |
| Best 12 months | +41.3% | +41.3% |
| Worst 12 months | +1.6% | +1.6% |
| Positive months | 72% | 67% |
| Beta vs S&P 500 | 0.96 | — |
| Correlation with S&P 500 | 0.90 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
GOP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 33 | +1.6% | +19.1% | +41.3% | 100% |
| 3-year (a year) | 9 | +16.5% | +21.3% | +23.4% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
GOP performance overview
Unusual Whales Subversive Republican Trading ETF (GOP) returned +18.6% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +16.0% a year, turning $10,000 into about $17,357. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −20.7%, from Jan 21, 2025 to Apr 8, 2025, and it took 3 months to get back to the old high. Volatility has been 13.2% a year.
Related: GOP chart, GOP holdings, GOP dividends, GOP valuation. See the GOP overview for the latest quote and fund facts.
GOP performance FAQ
What is the GOP return over the past year?
GOP returned +18.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 17.8%.
How much would $10,000 invested in GOP be worth?
$10,000 invested in GOP at its first recorded close on February 7, 2023 would be worth about $17,357 on October 23, 2026 with distributions reinvested.
What was the worst year for GOP?
The worst calendar year was 2024, with a total return of +14.4%. The best was 2025 at +17.1%.
What is the biggest drawdown of GOP?
The largest peak-to-trough decline was −20.7% between January 21, 2025 and April 8, 2025. It recovered to the old high on June 27, 2025, 3 months after the bottom.
How volatile is GOP?
Over the past 3 years GOP had an annualized volatility of 13.3% and a Sharpe ratio of 1.28 (excess return over 1–3 month T-bills per unit of risk).