ATGAX vs. UTAHX

Last updated Jun 3, 2026

ATGAX (Aquila Opportunity Growth Fund) and UTAHX (Aquila Tax-Free Fund For Utah) are both mutual funds - ATGAX is a Mid Cap Blend Equities fund managed by Aquila, while UTAHX is a Municipal Bonds fund managed by Aquila. At a correlation of -1.00, they often move in opposite directions. ATGAX charges 1.50%/yr vs 0.87%/yr for UTAHX.

Performance

ATGAX vs. UTAHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aquila Opportunity Growth Fund (ATGAX) and Aquila Tax-Free Fund For Utah (UTAHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ATGAX

• 1D: 0.85%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

UTAHX

• 1D: 0.00%
• 1M: 0.51%
• YTD: 1.82%
• 6M: 2.34%
• 1Y: 7.35%
• 3Y*: 3.31%
• 5Y*: 0.54%
• 10Y*: 1.55%

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

ATGAX vs. UTAHX - Yearly Performance Comparison

	2026 (YTD)
ATGAX Aquila Opportunity Growth Fund	0.87%
UTAHX Aquila Tax-Free Fund For Utah	0.41%

Correlation

The correlation between ATGAX and UTAHX is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	-1.00

Return for Risk

ATGAX vs. UTAHX — Risk / Return Rank

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

UTAHX

UTAHX Risk / Return Rank: 77
UTAHX Sharpe Ratio Rank: 91
UTAHX Sortino Ratio Rank: 94
UTAHX Omega Ratio Rank: 95
UTAHX Calmar Ratio Rank: 54
UTAHX Martin Ratio Rank: 49

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.

ATGAX vs. UTAHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aquila Opportunity Growth Fund (ATGAX) and Aquila Tax-Free Fund For Utah (UTAHX). 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.

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

Sharpe Ratios by Period

	ATGAX	UTAHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.04	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.17	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	30.24	1.13	+29.11

Drawdowns

ATGAX vs. UTAHX - Drawdown Comparison

The maximum ATGAX drawdown since its inception was 0.00%, smaller than the maximum UTAHX drawdown of -13.94%. Use the drawdown chart below to compare losses from any high point for ATGAX and UTAHX.

Drawdown Indicators

	ATGAX	UTAHX	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-13.94%	+13.94%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.64%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.61%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-12.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-12.26%	—
Current Drawdown Current decline from peak	0.00%	-0.52%	+0.52%
Average Drawdown Average peak-to-trough decline	0.00%	-1.93%	+1.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.74%	—

Volatility

Volatility by Period

	ATGAX	UTAHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.85%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.31%	2.37%	+6.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.31%	3.18%	+6.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.31%	3.29%	+6.02%

ATGAX vs. UTAHX - Expense Ratio Comparison

ATGAX has a 1.50% expense ratio, which is higher than UTAHX's 0.87% expense ratio.

Dividends

ATGAX vs. UTAHX - Dividend Comparison

ATGAX has not paid dividends to shareholders, while UTAHX's dividend yield for the trailing twelve months is around 3.59%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATGAX Aquila Opportunity Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UTAHX Aquila Tax-Free Fund For Utah	3.59%	3.52%	2.44%	2.00%	1.59%	1.63%	2.02%	2.75%	2.52%	2.62%	2.69%	2.83%

Frequently Asked Questions

Can I hold both ATGAX and UTAHX in my portfolio?

ATGAX and UTAHX have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.