ATRFX vs. CLPAX

Last updated Jun 4, 2026

ATRFX (Catalyst Systematic Alpha Class I) and CLPAX (Catalyst Nasdaq-100 Hedged Equity Fund) are both mutual funds - ATRFX is a Multistrategy fund managed by Catalyst Mutual Funds, while CLPAX is a Derivative Income fund managed by Catalyst Mutual Funds. Over the past 10 years, ATRFX returned 5.84%/yr vs 8.09%/yr for CLPAX. At a 0.30 correlation, their price movements are largely independent. ATRFX charges 1.77%/yr vs 1.74%/yr for CLPAX.

Performance

ATRFX vs. CLPAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Catalyst Systematic Alpha Class I (ATRFX) and Catalyst Nasdaq-100 Hedged Equity Fund (CLPAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ATRFX achieves a 0.09% return, which is significantly lower than CLPAX's 17.67% return. Over the past 10 years, ATRFX has underperformed CLPAX with an annualized return of 5.84%, while CLPAX has yielded a comparatively higher 8.09% annualized return.

ATRFX

• 1D: 0.93%
• 1M: 9.53%
• YTD: 0.09%
• 6M: 2.57%
• 1Y: 16.49%
• 3Y*: 0.36%
• 5Y*: 5.27%
• 10Y*: 5.84%

CLPAX

• 1D: 0.25%
• 1M: 9.92%
• YTD: 17.67%
• 6M: 12.98%
• 1Y: 29.30%
• 3Y*: 17.72%
• 5Y*: 9.79%
• 10Y*: 8.09%

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

ATRFX vs. CLPAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ATRFX Catalyst Systematic Alpha Class I	0.09%	2.81%	-4.14%	24.60%	-4.33%	25.70%	15.32%	29.25%	-19.65%	2.00%
CLPAX Catalyst Nasdaq-100 Hedged Equity Fund	17.67%	12.32%	11.42%	35.92%	-30.54%	13.11%	5.25%	19.41%	-3.65%	8.20%

Correlation

The correlation between ATRFX and CLPAX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Aug 4, 2014	0.30

Over the past year, ATRFX and CLPAX have become more correlated (0.69) than their long-term average of 0.30, meaning their price movements have been converging.

Return for Risk

ATRFX vs. CLPAX — Risk / Return Rank

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

ATRFX

ATRFX Risk / Return Rank: 9
ATRFX Sharpe Ratio Rank: 11
ATRFX Sortino Ratio Rank: 10
ATRFX Omega Ratio Rank: 12
ATRFX Calmar Ratio Rank: 8
ATRFX Martin Ratio Rank: 8

CLPAX

CLPAX Risk / Return Rank: 44
CLPAX Sharpe Ratio Rank: 56
CLPAX Sortino Ratio Rank: 52
CLPAX Omega Ratio Rank: 48
CLPAX Calmar Ratio Rank: 38
CLPAX Martin Ratio Rank: 27

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.

ATRFX vs. CLPAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Catalyst Systematic Alpha Class I (ATRFX) and Catalyst Nasdaq-100 Hedged Equity Fund (CLPAX). 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.

	ATRFX	CLPAX	Difference
Sharpe ratio: Return per unit of total volatility	0.84	2.21	-1.37
Sortino ratio: Return per unit of downside risk	1.22	3.03	-1.82
Omega ratio: Gain probability vs. loss probability	1.17	1.38	-0.21
Calmar ratio: Return relative to maximum drawdown	0.76	2.34	-1.58
Martin ratio: Return relative to average drawdown	2.26	6.55	-4.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ATRFX vs. CLPAX - Sharpe Ratio Comparison

The current ATRFX Sharpe Ratio is 0.84, which is lower than the CLPAX Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of ATRFX and CLPAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ATRFX	CLPAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	2.21	-1.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.62	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.56	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.47	-0.14

Drawdowns

ATRFX vs. CLPAX - Drawdown Comparison

The maximum ATRFX drawdown since its inception was -35.17%, which is greater than CLPAX's maximum drawdown of -32.47%. Use the drawdown chart below to compare losses from any high point for ATRFX and CLPAX.

Drawdown Indicators

	ATRFX	CLPAX	Difference
Max Drawdown Largest peak-to-trough decline	-35.17%	-32.47%	-2.70%
Max Drawdown (1Y) Largest decline over 1 year	-22.53%	-12.87%	-9.66%
Max Drawdown (3Y) Largest decline over 3 years	-35.17%	-18.37%	-16.80%
Max Drawdown (5Y) Largest decline over 5 years	-35.17%	-32.47%	-2.70%
Max Drawdown (10Y) Largest decline over 10 years	-35.17%	-32.47%	-2.70%
Current Drawdown Current decline from peak	-14.63%	0.00%	-14.63%
Average Drawdown Average peak-to-trough decline	-8.76%	-8.08%	-0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.61%	4.59%	+3.02%

Volatility

ATRFX vs. CLPAX - Volatility Comparison

The current volatility for Catalyst Systematic Alpha Class I (ATRFX) is 3.50%, while Catalyst Nasdaq-100 Hedged Equity Fund (CLPAX) has a volatility of 4.95%. This indicates that ATRFX experiences smaller price fluctuations and is considered to be less risky than CLPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ATRFX	CLPAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	4.95%	-1.45%
Volatility (6M) Calculated over the trailing 6-month period	17.55%	10.29%	+7.26%
Volatility (1Y) Calculated over the trailing 1-year period	20.50%	13.65%	+6.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.35%	15.82%	+1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.54%	14.47%	+1.07%

ATRFX vs. CLPAX - Expense Ratio Comparison

ATRFX has a 1.77% expense ratio, which is higher than CLPAX's 1.74% expense ratio.

Dividends

ATRFX vs. CLPAX - Dividend Comparison

ATRFX's dividend yield for the trailing twelve months is around 0.49%, less than CLPAX's 7.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATRFX Catalyst Systematic Alpha Class I	0.49%	0.65%	11.89%	1.87%	4.98%	5.43%	20.92%	1.60%	1.37%	0.00%	0.91%	1.02%
CLPAX Catalyst Nasdaq-100 Hedged Equity Fund	7.74%	9.10%	0.00%	0.00%	2.68%	0.32%	0.49%	5.41%	0.30%	0.02%	0.00%	17.26%

Frequently Asked Questions

Can I hold both ATRFX and CLPAX in my portfolio?

ATRFX and CLPAX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ATRFX or CLPAX?

CLPAX has higher volatility (4.95%) compared to ATRFX (3.50%). In terms of maximum drawdown, ATRFX dropped -35.17% vs CLPAX's -32.47%.

Which has better risk-adjusted returns?

CLPAX currently has the higher Sharpe Ratio (2.21 vs 0.84), 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.