BTPIX vs. WAYEX
Compare and contrast key facts about Salient Tactical Plus Fund (BTPIX) and Waycross Long/Short Equity Fund (WAYEX).
BTPIX is managed by Salient Funds. It was launched on Dec 30, 2012. WAYEX is managed by Waycross. It was launched on Apr 28, 2015.
Performance
BTPIX vs. WAYEX - Performance Comparison
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BTPIX vs. WAYEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTPIX Salient Tactical Plus Fund | -0.83% | -2.44% | 3.17% | 4.22% | -1.65% | 6.48% | 7.46% | 7.54% | 2.94% | 0.26% |
WAYEX Waycross Long/Short Equity Fund | -5.57% | 13.16% | 22.40% | 18.99% | -11.66% | 11.43% | 22.27% | 21.17% | -8.80% | 13.05% |
Returns By Period
In the year-to-date period, BTPIX achieves a -0.83% return, which is significantly higher than WAYEX's -5.57% return. Over the past 10 years, BTPIX has underperformed WAYEX with an annualized return of 3.36%, while WAYEX has yielded a comparatively higher 9.26% annualized return.
BTPIX
- 1D
- 0.94%
- 1M
- -4.03%
- YTD
- -0.83%
- 6M
- 0.08%
- 1Y
- -0.10%
- 3Y*
- 1.45%
- 5Y*
- 1.46%
- 10Y*
- 3.36%
WAYEX
- 1D
- 1.56%
- 1M
- -4.46%
- YTD
- -5.57%
- 6M
- -3.40%
- 1Y
- 9.88%
- 3Y*
- 14.50%
- 5Y*
- 7.78%
- 10Y*
- 9.26%
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BTPIX vs. WAYEX - Expense Ratio Comparison
BTPIX has a 1.08% expense ratio, which is lower than WAYEX's 2.27% expense ratio.
Return for Risk
BTPIX vs. WAYEX — Risk / Return Rank
BTPIX
WAYEX
BTPIX vs. WAYEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Salient Tactical Plus Fund (BTPIX) and Waycross Long/Short Equity Fund (WAYEX). 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.
| BTPIX | WAYEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.01 | 1.04 | -1.05 |
Sortino ratioReturn per unit of downside risk | 0.04 | 1.57 | -1.53 |
Omega ratioGain probability vs. loss probability | 1.01 | 1.22 | -0.21 |
Calmar ratioReturn relative to maximum drawdown | 0.03 | 1.31 | -1.29 |
Martin ratioReturn relative to average drawdown | 0.07 | 5.53 | -5.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BTPIX | WAYEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.01 | 1.04 | -1.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.75 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.81 | -0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.68 | -0.25 |
Correlation
The correlation between BTPIX and WAYEX is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
BTPIX vs. WAYEX - Dividend Comparison
BTPIX's dividend yield for the trailing twelve months is around 2.83%, less than WAYEX's 5.60% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
BTPIX Salient Tactical Plus Fund | 2.83% | 2.81% | 3.80% | 4.93% | 7.72% | 0.00% | 6.10% | 6.16% | 3.08% | 0.00% | 4.14% |
WAYEX Waycross Long/Short Equity Fund | 5.60% | 5.29% | 12.41% | 2.86% | 0.00% | 5.33% | 1.17% | 1.05% | 0.00% | 1.01% | 0.00% |
Drawdowns
BTPIX vs. WAYEX - Drawdown Comparison
The maximum BTPIX drawdown since its inception was -13.30%, smaller than the maximum WAYEX drawdown of -20.77%. Use the drawdown chart below to compare losses from any high point for BTPIX and WAYEX.
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Drawdown Indicators
| BTPIX | WAYEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.30% | -20.77% | +7.47% |
Max Drawdown (1Y)Largest decline over 1 year | -6.84% | -8.05% | +1.21% |
Max Drawdown (5Y)Largest decline over 5 years | -8.90% | -17.31% | +8.41% |
Max Drawdown (10Y)Largest decline over 10 years | -11.04% | -20.77% | +9.73% |
Current DrawdownCurrent decline from peak | -5.88% | -6.62% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -4.16% | +0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 1.91% | +0.72% |
Volatility
BTPIX vs. WAYEX - Volatility Comparison
The current volatility for Salient Tactical Plus Fund (BTPIX) is 2.59%, while Waycross Long/Short Equity Fund (WAYEX) has a volatility of 3.01%. This indicates that BTPIX experiences smaller price fluctuations and is considered to be less risky than WAYEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTPIX | WAYEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 3.01% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 8.09% | 5.59% | +2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.83% | 10.04% | -1.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.11% | 10.38% | -4.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.62% | 11.54% | -2.92% |