APLIX vs. HRSTX

Last updated Apr 1, 2026

Compare and contrast key facts about Cavanal Hill Hedged Income Fund (APLIX) and Rational Tactical Return Fund (HRSTX).

APLIX is managed by Cavanal Hill funds. It was launched on Dec 27, 2020. HRSTX is managed by Rational Funds. It was launched on Apr 30, 2007.

Performance

APLIX vs. HRSTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cavanal Hill Hedged Income Fund (APLIX) and Rational Tactical Return Fund (HRSTX). The values are adjusted to include any dividend payments, if applicable.

APLIX vs. HRSTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
APLIX Cavanal Hill Hedged Income Fund	-5.79%	16.87%	10.43%	5.04%	-1.92%	7.28%
HRSTX Rational Tactical Return Fund	-1.80%	3.66%	3.23%	5.06%	217.69%	3.95%

Returns By Period

In the year-to-date period, APLIX achieves a -5.79% return, which is significantly lower than HRSTX's -1.80% return.

APLIX

• 1D: -0.16%
• 1M: -6.21%
• YTD: -5.79%
• 6M: -4.40%
• 1Y: 13.32%
• 3Y*: 8.35%
• 5Y*: 5.21%
• 10Y*: —

HRSTX

• 1D: 0.31%
• 1M: -2.12%
• YTD: -1.80%
• 6M: -0.87%
• 1Y: 1.07%
• 3Y*: 3.09%
• 5Y*: 29.21%
• 10Y*: 17.14%

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

APLIX vs. HRSTX - Expense Ratio Comparison

APLIX has a 1.35% expense ratio, which is lower than HRSTX's 1.99% expense ratio.

HRSTX

Rational Tactical Return Fund

APLIX

Cavanal Hill Hedged Income Fund

Return for Risk

APLIX vs. HRSTX — Risk / Return Rank

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

APLIX

APLIX Risk / Return Rank: 51
APLIX Sharpe Ratio Rank: 51
APLIX Sortino Ratio Rank: 53
APLIX Omega Ratio Rank: 56
APLIX Calmar Ratio Rank: 47
APLIX Martin Ratio Rank: 51

HRSTX

HRSTX Risk / Return Rank: 19
HRSTX Sharpe Ratio Rank: 16
HRSTX Sortino Ratio Rank: 12
HRSTX Omega Ratio Rank: 24
HRSTX Calmar Ratio Rank: 15
HRSTX Martin Ratio Rank: 29

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.

APLIX vs. HRSTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cavanal Hill Hedged Income Fund (APLIX) and Rational Tactical Return Fund (HRSTX). 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.

	APLIX	HRSTX	Difference
Sharpe ratio Return per unit of total volatility	1.00	0.43	+0.57
Sortino ratio Return per unit of downside risk	1.48	0.53	+0.95
Omega ratio Gain probability vs. loss probability	1.22	1.14	+0.09
Calmar ratio Return relative to maximum drawdown	1.18	0.42	+0.76
Martin ratio Return relative to average drawdown	5.12	3.20	+1.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

APLIX vs. HRSTX - Sharpe Ratio Comparison

The current APLIX Sharpe Ratio is 1.00, which is higher than the HRSTX Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of APLIX and HRSTX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	APLIX	HRSTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	0.43	+0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.30	+0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.25	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.12	+0.46

Correlation

The correlation between APLIX and HRSTX is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

APLIX vs. HRSTX - Dividend Comparison

APLIX's dividend yield for the trailing twelve months is around 0.22%, less than HRSTX's 8.48% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APLIX Cavanal Hill Hedged Income Fund	0.22%	0.40%	0.84%	2.06%	2.09%	1.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HRSTX Rational Tactical Return Fund	8.48%	6.72%	4.47%	5.60%	2.24%	3.75%	2.10%	3.36%	1.33%	5.55%	13.80%	4.82%

Drawdowns

APLIX vs. HRSTX - Drawdown Comparison

The maximum APLIX drawdown since its inception was -14.52%, smaller than the maximum HRSTX drawdown of -69.69%. Use the drawdown chart below to compare losses from any high point for APLIX and HRSTX.

Drawdown Indicators

	APLIX	HRSTX	Difference
Max Drawdown Largest peak-to-trough decline	-14.52%	-69.69%	+55.17%
Max Drawdown (1Y) Largest decline over 1 year	-9.76%	-2.42%	-7.34%
Max Drawdown (5Y) Largest decline over 5 years	-14.52%	-2.42%	-12.10%
Max Drawdown (10Y) Largest decline over 10 years	—	-15.82%	—
Current Drawdown Current decline from peak	-7.93%	-2.12%	-5.81%
Average Drawdown Average peak-to-trough decline	-2.29%	-27.86%	+25.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	0.32%	+1.98%

Volatility

APLIX vs. HRSTX - Volatility Comparison

Cavanal Hill Hedged Income Fund (APLIX) has a higher volatility of 3.33% compared to Rational Tactical Return Fund (HRSTX) at 2.12%. This indicates that APLIX's price experiences larger fluctuations and is considered to be riskier than HRSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APLIX	HRSTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	2.12%	+1.21%
Volatility (6M) Calculated over the trailing 6-month period	7.51%	2.26%	+5.25%
Volatility (1Y) Calculated over the trailing 1-year period	14.24%	2.37%	+11.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.18%	97.90%	-87.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.13%	69.53%	-59.40%