ATRFX vs. SRRIX

Last updated Aug 1, 2026

ATRFX (Catalyst Systematic Alpha Class I) and SRRIX (Stone Ridge Reinsurance Risk Premium Interval Fund) are both Multistrategy funds. Over the past 10 years, ATRFX returned 5.35%/yr vs 8.98%/yr for SRRIX. Their 0.03 correlation means their historical movements had little consistent relationship. ATRFX charges 1.77%/yr vs 2.35%/yr for SRRIX.

Performance

ATRFX vs. SRRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Catalyst Systematic Alpha Class I (ATRFX) and Stone Ridge Reinsurance Risk Premium Interval Fund (SRRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ATRFX achieves a -2.88% return, which is significantly lower than SRRIX's 10.94% return. Over the past 10 years, ATRFX has underperformed SRRIX with an annualized return of 5.35%, while SRRIX has yielded a comparatively higher 8.98% annualized return.

ATRFX

• 1D: 0.87%
• 1M: -2.15%
• 6M: 2.30%
• YTD: -2.88%
• 1Y: 9.45%
• 3Y*: -1.32%
• 5Y*: 3.09%
• 10Y*: 5.35%
• ALL TIME*: 4.55%

SRRIX

• 1D: 0.05%
• 1M: 0.75%
• 6M: 8.61%
• YTD: 10.94%
• 1Y: 33.49%
• 3Y*: 31.48%
• 5Y*: 22.31%
• 10Y*: 8.98%
• ALL TIME*: 8.72%

*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)
ATRFX Catalyst Systematic Alpha Class I	$0.00	$0.00	$0.00
SRRIX Stone Ridge Reinsurance Risk Premium Interval Fund	$0.00	$0.00	$0.00

ATRFX vs. SRRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ATRFX Catalyst Systematic Alpha Class I	-2.88%	2.81%	-4.14%	24.60%	-4.33%	25.70%	15.32%	29.25%	-19.65%	2.00%
SRRIX Stone Ridge Reinsurance Risk Premium Interval Fund	10.94%	29.63%	33.14%	44.73%	5.10%	-6.47%	4.30%	-4.47%	-6.14%	-11.35%

Correlation

The correlation between ATRFX and SRRIX is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.14
Correlation (3Y) Balances recent behavior with more history.	0.07
Correlation (5Y) Shows whether the relationship held over a longer period.	0.08
Correlation (10Y) Provides a long-term view across more market conditions.	0.03
Correlation (All Time) Calculated using the full available price history since Aug 1, 2014	0.03

The correlation between ATRFX and SRRIX shifts across timeframes, from 0.03 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ATRFX vs. SRRIX — Risk / Return Rank

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

ATRFX

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

SRRIX

SRRIX Risk / Return Rank: 100
SRRIX Sharpe Ratio Rank: 100
SRRIX Sortino Ratio Rank: 100
SRRIX Omega Ratio Rank: 100
SRRIX Calmar Ratio Rank: 100
SRRIX Martin Ratio Rank: 100

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.

ATRFX vs. SRRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Catalyst Systematic Alpha Class I (ATRFX) and Stone Ridge Reinsurance Risk Premium Interval Fund (SRRIX). 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.

	ATRFX	SRRIX	Difference
Sharpe ratio: Return per unit of total volatility	0.39	12.86	-12.47
Sortino ratio: Return per unit of downside risk	0.66	36.59	-35.93
Omega ratio: Gain probability vs. loss probability	1.09	19.15	-18.07
Calmar ratio: Return relative to maximum drawdown	0.37	61.31	-60.94
Martin ratio: Return relative to average drawdown	1.06	479.83	-478.77

ATRFX vs. SRRIX - Sharpe Ratio Comparison

The current ATRFX Sharpe Ratio is 0.39, which is lower than the SRRIX Sharpe Ratio of 12.86. The chart below compares the historical Sharpe Ratios of ATRFX and SRRIX, 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

ATRFX vs. SRRIX - Drawdown Comparison

The maximum ATRFX drawdown since its inception was -35.17%, which is greater than SRRIX's maximum drawdown of -27.22%. Use the drawdown chart below to compare losses from any high point for ATRFX and SRRIX.

Drawdown Indicators

	ATRFX	SRRIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.17%	-27.22%	-7.95%
Max Drawdown (1Y) Largest decline over 1 year	-22.53%	-0.55%	-21.98%
Max Drawdown (3Y) Largest decline over 3 years	-35.17%	-17.26%	-17.91%
Max Drawdown (5Y) Largest decline over 5 years	-35.17%	-17.26%	-17.91%
Max Drawdown (10Y) Largest decline over 10 years	-35.17%	-27.22%	-7.95%
Current Drawdown Current decline from peak	-17.16%	0.00%	-17.16%
Average Drawdown Average peak-to-trough decline	-8.85%	-9.78%	+0.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.84%	0.07%	+7.77%

Volatility

ATRFX vs. SRRIX - Volatility Comparison

Catalyst Systematic Alpha Class I (ATRFX) has a higher volatility of 4.49% compared to Stone Ridge Reinsurance Risk Premium Interval Fund (SRRIX) at 0.59%. This indicates that ATRFX's price experiences larger fluctuations and is considered to be riskier than SRRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ATRFX	SRRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	0.59%	+3.90%
Volatility (6M) Calculated over the trailing 6-month period	17.52%	0.92%	+16.60%
Volatility (1Y) Calculated over the trailing 1-year period	21.45%	2.65%	+18.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.32%	13.95%	+3.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.69%	11.01%	+4.68%

ATRFX vs. SRRIX - Expense Ratio Comparison

ATRFX has a 1.77% expense ratio, which is lower than SRRIX's 2.35% expense ratio.

Dividends

ATRFX vs. SRRIX - Dividend Comparison

ATRFX's dividend yield for the trailing twelve months is around 0.36%, less than SRRIX's 18.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATRFX Catalyst Systematic Alpha Class I	0.36%	0.65%	11.89%	1.87%	4.98%	5.43%	20.92%	1.60%	1.37%	0.00%	0.91%	1.02%
SRRIX Stone Ridge Reinsurance Risk Premium Interval Fund	18.15%	20.14%	21.58%	20.02%	0.00%	0.00%	0.38%	1.06%	2.32%	0.10%	6.16%	8.41%

Frequently Asked Questions

Can I hold both ATRFX and SRRIX in my portfolio?

ATRFX and SRRIX have a correlation of 0.14, 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 SRRIX?

ATRFX has higher volatility (4.49%) compared to SRRIX (0.59%). In terms of maximum drawdown, ATRFX dropped -35.17% vs SRRIX's -27.22%.

Which has better risk-adjusted returns?

SRRIX currently has the higher Sharpe Ratio (12.86 vs 0.39), 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.