Unusual Whales Subversive Democratic Trading ETF (NANC) Performance
NANC total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +11.2% since Dec 31, 2025
- 1 year
- +12.4% total return
- 3 years
- +24.6% a year
- Since first price
- +20.9% a year since 2023
NANC trailing returns vs SPY, QQQ, AGG
| Period | NANC total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −3.2% | −3.2% | −1.0% | −5.0% | +0.9% |
| 3 months | +3.4% | +3.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +9.1% | +9.1% | +7.8% | +8.4% | −1.5% |
| YTD | +11.2% | +11.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +12.4% | +12.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +93.3%+24.6%/yr | +90.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionFeb 7, 2023 | +101.8%+20.9%/yr | +99.2% | — | — | — |
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: NANC vs SPY
From Feb 7, 2023: NANC grew to $20,184, SPY to $19,190.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
NANC returns by calendar year
2 of 2 full years positive. Best 2024 (+26.8%), worst 2025 (+18.5%). 2026 is year to date.
NANC annual returns table
| Year | NANC | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +11.2% | −12.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +18.5% | −20.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +26.8% | −11.1% | +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.
NANC largest drawdowns
Now 5.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2025 | −20.9% | Apr 8, 2025 | Jun 24, 2025 | 48 days | 4 months |
| Jan 12, 2026 | −12.2% | Mar 30, 2026 | Apr 22, 2026 | 3 months | 3 months |
| Jul 10, 2024 | −11.1% | Aug 5, 2024 | Sep 26, 2024 | 26 days | 3 months |
| Jul 19, 2023 | −10.2% | Oct 27, 2023 | Nov 20, 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.
NANC risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +25.4% | +24.6% |
| Volatility (annualized) | 14.9% | 14.5% |
| Sharpe ratio | 1.32 | 1.29 |
| Sortino ratio | 2.65 | 2.51 |
| Best month | +11.5% | +11.5% |
| Worst month | −7.5% | −7.5% |
| Best 12 months | +42.6% | +42.6% |
| Worst 12 months | +4.7% | +4.7% |
| Positive months | 69% | 70% |
| Beta vs S&P 500 | 1.16 | — |
| Correlation with S&P 500 | 0.97 | — |
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.
NANC rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 33 | +4.7% | +20.0% | +42.6% | 100% |
| 3-year (a year) | 9 | +19.3% | +23.3% | +25.4% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
NANC performance overview
Unusual Whales Subversive Democratic Trading ETF (NANC) returned +12.4% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +20.9% a year, turning $10,000 into about $20,184. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −20.9%, from Feb 19, 2025 to Apr 8, 2025, and it took 3 months to get back to the old high. Volatility has been 14.5% a year.
Related: NANC chart, NANC holdings, NANC dividends, NANC valuation. See the NANC overview for the latest quote and fund facts.
NANC performance FAQ
What is the NANC return over the past year?
NANC returned +12.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 12.2%.
How much would $10,000 invested in NANC be worth?
$10,000 invested in NANC at its first recorded close on February 7, 2023 would be worth about $20,184 on October 23, 2026 with distributions reinvested.
What was the worst year for NANC?
The worst calendar year was 2025, with a total return of +18.5%. The best was 2024 at +26.8%.
What is the biggest drawdown of NANC?
The largest peak-to-trough decline was −20.9% between February 19, 2025 and April 8, 2025. It recovered to the old high on June 24, 2025, 3 months after the bottom.
How volatile is NANC?
Over the past 3 years NANC had an annualized volatility of 14.9% and a Sharpe ratio of 1.32 (excess return over 1–3 month T-bills per unit of risk).