CBYYX vs. HFSAX

Last updated Apr 2, 2026

Compare and contrast key facts about Victory Pioneer Cat Bond Fund Class Y (CBYYX) and Hundredfold Select Alternative Fund Investor Class (HFSAX).

CBYYX is an actively managed fund by Victory. It was launched on Jan 27, 2023. HFSAX is managed by Advisors Preferred.

Performance

CBYYX vs. HFSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory Pioneer Cat Bond Fund Class Y (CBYYX) and Hundredfold Select Alternative Fund Investor Class (HFSAX). The values are adjusted to include any dividend payments, if applicable.

CBYYX vs. HFSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CBYYX Victory Pioneer Cat Bond Fund Class Y	1.27%	11.09%	15.69%	3.43%
HFSAX Hundredfold Select Alternative Fund Investor Class	-0.83%	11.97%	3.75%	9.36%

Returns By Period

In the year-to-date period, CBYYX achieves a 1.27% return, which is significantly higher than HFSAX's -0.83% return.

CBYYX

• 1D: 0.00%
• 1M: 0.27%
• YTD: 1.27%
• 6M: 3.33%
• 1Y: 10.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HFSAX

• 1D: 0.08%
• 1M: -2.57%
• YTD: -0.83%
• 6M: 2.12%
• 1Y: 10.29%
• 3Y*: 8.45%
• 5Y*: 3.86%
• 10Y*: 8.41%

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

CBYYX vs. HFSAX - Expense Ratio Comparison

CBYYX has a 1.46% expense ratio, which is lower than HFSAX's 1.75% expense ratio.

HFSAX

Hundredfold Select Alternative Fund Investor Class

CBYYX

Victory Pioneer Cat Bond Fund Class Y

Return for Risk

CBYYX vs. HFSAX — Risk / Return Rank

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

CBYYX

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

HFSAX

HFSAX Risk / Return Rank: 93
HFSAX Sharpe Ratio Rank: 96
HFSAX Sortino Ratio Rank: 95
HFSAX Omega Ratio Rank: 93
HFSAX Calmar Ratio Rank: 92
HFSAX Martin Ratio Rank: 88

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.

CBYYX vs. HFSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory Pioneer Cat Bond Fund Class Y (CBYYX) and Hundredfold Select Alternative Fund Investor Class (HFSAX). 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.

	CBYYX	HFSAX	Difference
Sharpe ratio Return per unit of total volatility	8.54	2.37	+6.18
Sortino ratio Return per unit of downside risk	25.47	3.18	+22.29
Omega ratio Gain probability vs. loss probability	6.68	1.48	+5.21
Calmar ratio Return relative to maximum drawdown	59.32	2.78	+56.54
Martin ratio Return relative to average drawdown	312.31	9.69	+302.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CBYYX vs. HFSAX - Sharpe Ratio Comparison

The current CBYYX Sharpe Ratio is 8.54, which is higher than the HFSAX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of CBYYX and HFSAX, 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

	CBYYX	HFSAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	8.54	2.37	+6.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.62	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.46	1.30	+0.16

Correlation

The correlation between CBYYX and HFSAX is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

CBYYX vs. HFSAX - Dividend Comparison

CBYYX's dividend yield for the trailing twelve months is around 9.02%, less than HFSAX's 9.83% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBYYX Victory Pioneer Cat Bond Fund Class Y	9.02%	9.14%	10.33%	9.41%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HFSAX Hundredfold Select Alternative Fund Investor Class	9.83%	9.75%	5.87%	5.17%	4.92%	10.98%	13.58%	6.44%	3.11%	11.06%	5.60%	1.85%

Drawdowns

CBYYX vs. HFSAX - Drawdown Comparison

The maximum CBYYX drawdown since its inception was -8.72%, smaller than the maximum HFSAX drawdown of -12.81%. Use the drawdown chart below to compare losses from any high point for CBYYX and HFSAX.

Drawdown Indicators

	CBYYX	HFSAX	Difference
Max Drawdown Largest peak-to-trough decline	-8.72%	-12.81%	+4.09%
Max Drawdown (1Y) Largest decline over 1 year	-0.18%	-3.68%	+3.50%
Max Drawdown (5Y) Largest decline over 5 years	—	-12.81%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-12.81%	—
Current Drawdown Current decline from peak	0.00%	-3.60%	+3.60%
Average Drawdown Average peak-to-trough decline	-1.40%	-2.39%	+0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	1.06%	-1.03%

Volatility

CBYYX vs. HFSAX - Volatility Comparison

The current volatility for Victory Pioneer Cat Bond Fund Class Y (CBYYX) is 0.27%, while Hundredfold Select Alternative Fund Investor Class (HFSAX) has a volatility of 1.72%. This indicates that CBYYX experiences smaller price fluctuations and is considered to be less risky than HFSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBYYX	HFSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.27%	1.72%	-1.45%
Volatility (6M) Calculated over the trailing 6-month period	0.63%	3.68%	-3.05%
Volatility (1Y) Calculated over the trailing 1-year period	1.27%	4.41%	-3.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.49%	6.31%	+2.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.49%	6.25%	+2.24%