AGOX vs. MATE

Last updated Aug 5, 2026

AGOX (Adaptive Alpha Opportunities ETF) and MATE (Man Active Trend Enhanced ETF) are both Tactical Allocation funds. Both are actively managed. Their 0.62 correlation means they have sometimes moved together and sometimes differently. AGOX charges 1.33%/yr vs 0.97%/yr for MATE.

Performance

AGOX vs. MATE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Adaptive Alpha Opportunities ETF (AGOX) and Man Active Trend Enhanced ETF (MATE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with AGOX having a 20.76% return and MATE slightly lower at 19.78%.

AGOX

• 1D: 3.67%
• 1M: 0.52%
• 6M: 15.82%
• YTD: 20.76%
• 1Y: 18.91%
• 3Y*: 16.26%
• 5Y*: 8.47%
• 10Y*: —
• ALL TIME*: 9.30%

MATE

• 1D: 1.68%
• 1M: 3.39%
• 6M: 11.11%
• YTD: 19.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AGOX Adaptive Alpha Opportunities ETF	$2.86M	$2.80M	$2.80M
MATE Man Active Trend Enhanced ETF	$76.25K	$203.19K	$175.82K

AGOX vs. MATE - Yearly Performance Comparison

	2026 (YTD)	2025
AGOX Adaptive Alpha Opportunities ETF	20.76%	0.20%
MATE Man Active Trend Enhanced ETF	19.78%	2.65%

Correlation

The correlation between AGOX and MATE is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 17, 2025	0.62

Return for Risk

AGOX vs. MATE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AGOX

AGOX Risk / Return Rank: 36
AGOX Sharpe Ratio Rank: 35
AGOX Sortino Ratio Rank: 37
AGOX Omega Ratio Rank: 36
AGOX Calmar Ratio Rank: 33
AGOX Martin Ratio Rank: 37

MATE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AGOX vs. MATE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Adaptive Alpha Opportunities ETF (AGOX) and Man Active Trend Enhanced ETF (MATE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	AGOX	MATE	Difference
Sharpe ratio: Return per unit of total volatility	0.97	—	—
Sortino ratio: Return per unit of downside risk	1.56	—	—
Omega ratio: Gain probability vs. loss probability	1.19	—	—
Calmar ratio: Return relative to maximum drawdown	1.24	—	—
Martin ratio: Return relative to average drawdown	4.18	—	—

Drawdowns

AGOX vs. MATE - Drawdown Comparison

The maximum AGOX drawdown since its inception was -26.93%, which is greater than MATE's maximum drawdown of -13.24%. Use the drawdown chart below to compare losses from any high point for AGOX and MATE.

Drawdown Indicators

	AGOX	MATE	Difference
Max Drawdown Largest peak-to-trough decline	-26.93%	-13.24%	-13.69%
Max Drawdown (1Y) Largest decline over 1 year	-15.32%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-21.15%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.93%	—	—
Current Drawdown Current decline from peak	-2.79%	-0.89%	-1.90%
Average Drawdown Average peak-to-trough decline	-8.03%	-3.46%	-4.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.54%	—	—

Volatility

Volatility by Period

	AGOX	MATE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.99%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.53%	22.41%	-2.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.88%	22.41%	-2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.69%	22.41%	-2.72%

AGOX vs. MATE - Expense Ratio Comparison

AGOX has a 1.33% expense ratio, which is higher than MATE's 0.97% expense ratio.

Dividends

AGOX vs. MATE - Dividend Comparison

AGOX's dividend yield for the trailing twelve months is around 2.67%, while MATE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
AGOX Adaptive Alpha Opportunities ETF	2.67%	3.23%	3.94%	0.27%	0.20%	6.36%
MATE Man Active Trend Enhanced ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AGOX and MATE in my portfolio?

AGOX and MATE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AGOX or MATE?

On fees, MATE is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AGOX or MATE?

MATE is cheaper with a 0.97% expense ratio, compared with 1.33% for AGOX.

Which ETF pays a higher dividend yield, AGOX or MATE?

AGOX has the higher dividend yield at 2.67%, compared with 0.00% for MATE.

What is the main difference between AGOX and MATE?

They also come from different issuers: Adaptive and Man Group. Their fees differ too: 1.33% for AGOX and 0.97% for MATE.