- ISIN
- US14956P1259
- Issuer
- Cavanal Hill
- Inception Date
- Dec 25, 2017
- Category
- Municipal Bonds
- Min. Investment
- $100
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
APUSX Performance Chart
Cavanal Hill Ultra Short Tax-Free Income Fund (APUSX) is up 0.9% since the beginning of the year. APUSX is currently trading at $10 per share. Investors who bought $1,000 worth of APUSX shares 5 years ago would now be looking at an investment worth $1,110.
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Returns By Period
Cavanal Hill Ultra Short Tax-Free Income Fund (APUSX) has returned 0.90% so far this year and 2.01% over the past 12 months.
Cavanal Hill Ultra Short Tax-Free Income Fund
- 1D
- 0.00%
- 1M
- -0.10%
- 6M
- 0.76%
- YTD
- 0.90%
- 1Y
- 2.01%
- 3Y*
- 3.22%
- 5Y*
- 2.10%
- 10Y*
- —
- ALL TIME*
- 1.60%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
APUSX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2020, APUSX's average daily return is +0.01%, while the average monthly return is +0.15%. At this rate, an investment would double in approximately 38.5 years.
Historically, 65% of months were positive and 35% were negative. The best month was Jul 2026 with a return of +11.7%, while the worst month was Jun 2026 at -10.4%. The longest winning streak lasted 37 consecutive months, and the longest losing streak was 5 months.
On a daily basis, APUSX closed higher 9% of trading days. The best single day was Jul 1, 2026 with a return of +11.8%, while the worst single day was Jun 30, 2026 at -10.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.14% | 0.17% | 0.10% | 0.21% | 0.19% | -10.36% | 11.65% | 0.90% | |||||
| 2025 | 0.58% | 0.42% | 0.51% | 0.34% | 0.34% | 0.21% | 0.32% | 0.22% | 0.22% | 0.14% | 0.31% | 0.20% | 3.88% |
| 2024 | 0.25% | 0.25% | 0.18% | 0.28% | 0.27% | 0.27% | 0.35% | 0.26% | 0.26% | 0.16% | 0.61% | 0.43% | 3.65% |
| 2023 | 0.39% | -0.10% | 0.42% | -0.10% | 0.24% | 0.24% | 0.26% | 0.29% | 0.22% | 0.00% | 0.44% | 0.29% | 2.63% |
| 2022 | -0.30% | -0.10% | -0.40% | -0.20% | 0.31% | 0.11% | 0.11% | -0.27% | -0.26% | 0.16% | 0.58% | 0.10% | -0.18% |
| 2021 | 0.00% | 0.00% | -0.10% | 0.00% | 0.00% | 0.00% | 0.00% | -0.10% | -0.10% | 0.00% | 0.00% | -0.10% | -0.40% |
Benchmark Metrics
Cavanal Hill Ultra Short Tax-Free Income Fund has an annualized alpha of 1.83%, beta of -0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since January 02, 2020.
- This fund captured 3.23% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -2.26%) - a profile typical of hedging or uncorrelated assets.
- Beta of -0.00 may look defensive, but with R2 of 0.00 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 1.83%
- Beta
- -0.00
- R²
- 0.00
- Upside Capture
- 3.23%
- Downside Capture
- -2.26%
Expense Ratio
APUSX has an expense ratio of 0.60%, placing it in the medium range.
Return for Risk
Risk / Return Rank
APUSX ranks 22 for risk / return — above 22% of mutual funds peers on PortfoliosLab. Its historical combined result is below the peer median.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Cavanal Hill Ultra Short Tax-Free Income Fund (APUSX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| APUSX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.27 | ||
| Sortino ratioReturn per unit of downside risk | -1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.25 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.22 | 2.00 | -1.79 |
| Martin ratioReturn relative to average drawdown | 3.42 | 8.49 | -5.07 |
Dividends
Dividend History
Cavanal Hill Ultra Short Tax-Free Income Fund provided a 2.19% dividend yield over the last twelve months, with an annual payout of $0.22 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Dividend | $0.22 | $0.37 | $0.37 | $0.17 | $0.03 | $0.00 | $0.03 |
Dividend yield | 2.19% | 3.69% | 3.68% | 1.69% | 0.33% | 0.00% | 0.25% |
Monthly Dividends
The table displays the monthly dividend distributions for Cavanal Hill Ultra Short Tax-Free Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.11 | |||||
| 2025 | $0.05 | $0.04 | $0.05 | $0.05 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.37 |
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.05 | $0.05 | $0.37 |
| 2023 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.00 | $0.02 | $0.03 | $0.17 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.03 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Cavanal Hill Ultra Short Tax-Free Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Cavanal Hill Ultra Short Tax-Free Income Fund was 10.36%, occurring on Jun 30, 2026. Recovery took 1 trading session.
The current Cavanal Hill Ultra Short Tax-Free Income Fund drawdown is 0.10%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-10.36%Jun 2026 | 1d | 1d | 1dJun 2026 - Jul 2026 | — |
-1.64%Sep 2022 | 2y 2mo | 6mo 11d | 2y 8moJul 2020 - Apr 2023 | Bear market2022 |
-1.00%Dec 2024 | 1d | 11d | 12dDec 2024 - Dec 2024 | — |
-0.60%Oct 2023 | 11d | 5d | 16dOct 2023 - Oct 2023 | — |
-0.60%Mar 2020 | 8d | 11d | 19dMar 2020 - Mar 2020 | COVID crash2020 |
Drawdown Indicators
| APUSX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.36% | -56.78% | +46.42% |
Max Drawdown (1Y)Largest decline over 1 year | -10.36% | -9.10% | -1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -10.36% | -18.90% | +8.54% |
Max Drawdown (5Y)Largest decline over 5 years | -10.36% | -25.43% | +15.07% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.10% | -1.58% | +1.48% |
Average DrawdownAverage peak-to-trough decline | -0.29% | -10.70% | +10.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 2.14% | -1.49% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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