AHLPX vs. EVOIX

Last updated Jun 25, 2026

AHLPX (American Beacon AHL Managed Futures Strategy Fund) and EVOIX (Altegris Futures Evolution Strategy Fund) are both Systematic Trend funds. Over the past 10 years, AHLPX returned 4.60%/yr vs 3.07%/yr for EVOIX. A 0.75 correlation means they provide meaningful diversification when combined. AHLPX charges 1.83%/yr vs 1.34%/yr for EVOIX.

Performance

AHLPX vs. EVOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Beacon AHL Managed Futures Strategy Fund (AHLPX) and Altegris Futures Evolution Strategy Fund (EVOIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AHLPX achieves a 11.05% return, which is significantly higher than EVOIX's 6.10% return. Over the past 10 years, AHLPX has outperformed EVOIX with an annualized return of 4.60%, while EVOIX has yielded a comparatively lower 3.07% annualized return.

AHLPX

• 1D: -1.24%
• 1M: -0.67%
• YTD: 11.05%
• 6M: 11.29%
• 1Y: 28.03%
• 3Y*: 4.14%
• 5Y*: 4.44%
• 10Y*: 4.60%

EVOIX

• 1D: -1.20%
• 1M: -2.79%
• YTD: 6.10%
• 6M: 6.32%
• 1Y: 21.55%
• 3Y*: 4.82%
• 5Y*: 7.15%
• 10Y*: 3.07%

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

AHLPX vs. EVOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AHLPX American Beacon AHL Managed Futures Strategy Fund	11.05%	2.19%	1.74%	-4.20%	16.48%	4.67%	10.36%	0.09%	2.15%	4.79%
EVOIX Altegris Futures Evolution Strategy Fund	6.10%	4.69%	3.86%	5.03%	12.84%	12.20%	-12.94%	4.22%	-7.58%	9.09%

Correlation

The correlation between AHLPX and EVOIX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.75

The correlation between AHLPX and EVOIX has been stable across timeframes, ranging from 0.74 to 0.82 - a consistent structural relationship.

Return for Risk

AHLPX vs. EVOIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AHLPX

AHLPX Risk / Return Rank: 88
AHLPX Sharpe Ratio Rank: 89
AHLPX Sortino Ratio Rank: 83
AHLPX Omega Ratio Rank: 81
AHLPX Calmar Ratio Rank: 96
AHLPX Martin Ratio Rank: 93

EVOIX

EVOIX Risk / Return Rank: 71
EVOIX Sharpe Ratio Rank: 69
EVOIX Sortino Ratio Rank: 61
EVOIX Omega Ratio Rank: 63
EVOIX Calmar Ratio Rank: 89
EVOIX Martin Ratio Rank: 73

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AHLPX vs. EVOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Beacon AHL Managed Futures Strategy Fund (AHLPX) and Altegris Futures Evolution Strategy Fund (EVOIX). 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.

	AHLPX	EVOIX	Difference
Sharpe ratio: Return per unit of total volatility	2.65	2.15	+0.50
Sortino ratio: Return per unit of downside risk	3.58	2.86	+0.72
Omega ratio: Gain probability vs. loss probability	1.48	1.39	+0.09
Calmar ratio: Return relative to maximum drawdown	5.75	4.11	+1.64
Martin ratio: Return relative to average drawdown	18.14	12.39	+5.75

AHLPX vs. EVOIX - Sharpe Ratio Comparison

The current AHLPX Sharpe Ratio is 2.65, which is comparable to the EVOIX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of AHLPX and EVOIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AHLPX vs. EVOIX - Drawdown Comparison

The maximum AHLPX drawdown since its inception was -21.90%, smaller than the maximum EVOIX drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for AHLPX and EVOIX.

Drawdown Indicators

	AHLPX	EVOIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.90%	-29.57%	+7.67%
Max Drawdown (1Y) Largest decline over 1 year	-5.02%	-5.32%	+0.30%
Max Drawdown (3Y) Largest decline over 3 years	-21.90%	-18.80%	-3.10%
Max Drawdown (5Y) Largest decline over 5 years	-21.90%	-18.80%	-3.10%
Max Drawdown (10Y) Largest decline over 10 years	-21.90%	-29.57%	+7.67%
Current Drawdown Current decline from peak	-1.43%	-3.92%	+2.49%
Average Drawdown Average peak-to-trough decline	-6.75%	-8.14%	+1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	1.76%	-0.17%

Volatility

AHLPX vs. EVOIX - Volatility Comparison

American Beacon AHL Managed Futures Strategy Fund (AHLPX) has a higher volatility of 2.85% compared to Altegris Futures Evolution Strategy Fund (EVOIX) at 2.43%. This indicates that AHLPX's price experiences larger fluctuations and is considered to be riskier than EVOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AHLPX	EVOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	2.43%	+0.42%
Volatility (6M) Calculated over the trailing 6-month period	7.90%	7.89%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	10.89%	10.17%	+0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.65%	9.62%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.52%	10.40%	-0.88%

AHLPX vs. EVOIX - Expense Ratio Comparison

AHLPX has a 1.83% expense ratio, which is higher than EVOIX's 1.34% expense ratio.

Dividends

AHLPX vs. EVOIX - Dividend Comparison

AHLPX's dividend yield for the trailing twelve months is around 7.27%, less than EVOIX's 9.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AHLPX American Beacon AHL Managed Futures Strategy Fund	7.27%	8.07%	0.29%	0.63%	17.64%	7.15%	5.14%	4.17%	1.45%	4.07%	0.00%	3.40%
EVOIX Altegris Futures Evolution Strategy Fund	9.39%	11.11%	10.09%	1.71%	34.87%	9.73%	2.23%	1.63%	5.52%	1.57%	7.27%	9.05%

Frequently Asked Questions

Can I hold both AHLPX and EVOIX in my portfolio?

AHLPX and EVOIX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AHLPX or EVOIX?

AHLPX has higher volatility (2.85%) compared to EVOIX (2.43%). In terms of maximum drawdown, AHLPX dropped -21.90% vs EVOIX's -29.57%.

Which has better risk-adjusted returns?

AHLPX currently has the higher Sharpe Ratio (2.65 vs 2.15), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.