CILGX vs. HDCTX

Last updated Jun 4, 2026

CILGX (Clarkston Fund) and HDCTX (Rational Equity Armor Fund) are both Large Cap Value Equities funds. Over the past 5 years, CILGX returned 1.37%/yr vs 7.04%/yr for HDCTX. A 0.61 correlation means they provide meaningful diversification when combined. CILGX charges 0.70%/yr vs 1.17%/yr for HDCTX.

Performance

CILGX vs. HDCTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Clarkston Fund (CILGX) and Rational Equity Armor Fund (HDCTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CILGX achieves a -6.09% return, which is significantly lower than HDCTX's 11.26% return.

CILGX

• 1D: -1.18%
• 1M: -1.69%
• YTD: -6.09%
• 6M: -5.00%
• 1Y: 2.49%
• 3Y*: 5.97%
• 5Y*: 1.37%
• 10Y*: —

HDCTX

• 1D: 0.34%
• 1M: 4.63%
• YTD: 11.26%
• 6M: 8.64%
• 1Y: 21.27%
• 3Y*: 16.02%
• 5Y*: 7.04%
• 10Y*: 5.66%

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

CILGX vs. HDCTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CILGX Clarkston Fund	-6.09%	8.29%	6.79%	17.86%	-8.60%	10.90%	16.93%	27.46%	-8.39%	9.33%
HDCTX Rational Equity Armor Fund	11.26%	12.64%	16.85%	2.95%	-10.68%	14.52%	15.85%	11.32%	-11.94%	-2.33%

Correlation

The correlation between CILGX and HDCTX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.61

Over the past year, the correlation between CILGX and HDCTX has dropped to 0.32 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

Return for Risk

CILGX vs. HDCTX — Risk / Return Rank

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

CILGX

CILGX Risk / Return Rank: 4
CILGX Sharpe Ratio Rank: 4
CILGX Sortino Ratio Rank: 4
CILGX Omega Ratio Rank: 4
CILGX Calmar Ratio Rank: 4
CILGX Martin Ratio Rank: 4

HDCTX

HDCTX Risk / Return Rank: 57
HDCTX Sharpe Ratio Rank: 61
HDCTX Sortino Ratio Rank: 64
HDCTX Omega Ratio Rank: 55
HDCTX Calmar Ratio Rank: 65
HDCTX Martin Ratio Rank: 38

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.

CILGX vs. HDCTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Clarkston Fund (CILGX) and Rational Equity Armor Fund (HDCTX). 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.

	CILGX	HDCTX	Difference
Sharpe ratio: Return per unit of total volatility	0.20	2.30	-2.10
Sortino ratio: Return per unit of downside risk	0.40	3.36	-2.96
Omega ratio: Gain probability vs. loss probability	1.05	1.41	-0.36
Calmar ratio: Return relative to maximum drawdown	0.25	3.11	-2.86
Martin ratio: Return relative to average drawdown	0.61	8.25	-7.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CILGX vs. HDCTX - Sharpe Ratio Comparison

The current CILGX Sharpe Ratio is 0.20, which is lower than the HDCTX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of CILGX and HDCTX, 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

	CILGX	HDCTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.20	2.30	-2.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	0.66	-0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.40	+0.01

Drawdowns

CILGX vs. HDCTX - Drawdown Comparison

The maximum CILGX drawdown since its inception was -33.57%, smaller than the maximum HDCTX drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for CILGX and HDCTX.

Drawdown Indicators

	CILGX	HDCTX	Difference
Max Drawdown Largest peak-to-trough decline	-33.57%	-59.05%	+25.48%
Max Drawdown (1Y) Largest decline over 1 year	-12.06%	-6.95%	-5.11%
Max Drawdown (3Y) Largest decline over 3 years	-15.60%	-11.74%	-3.86%
Max Drawdown (5Y) Largest decline over 5 years	-23.82%	-18.22%	-5.60%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.43%	—
Current Drawdown Current decline from peak	-9.36%	-0.83%	-8.53%
Average Drawdown Average peak-to-trough decline	-5.82%	-6.41%	+0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.99%	2.61%	+2.38%

Volatility

CILGX vs. HDCTX - Volatility Comparison

Clarkston Fund (CILGX) has a higher volatility of 4.17% compared to Rational Equity Armor Fund (HDCTX) at 3.84%. This indicates that CILGX's price experiences larger fluctuations and is considered to be riskier than HDCTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CILGX	HDCTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	3.84%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	11.49%	6.95%	+4.54%
Volatility (1Y) Calculated over the trailing 1-year period	15.43%	9.39%	+6.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.78%	10.67%	+6.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.94%	11.53%	+6.41%

CILGX vs. HDCTX - Expense Ratio Comparison

CILGX has a 0.70% expense ratio, which is lower than HDCTX's 1.17% expense ratio.

Dividends

CILGX vs. HDCTX - Dividend Comparison

CILGX's dividend yield for the trailing twelve months is around 4.36%, more than HDCTX's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CILGX Clarkston Fund	4.36%	4.09%	0.88%	3.44%	5.14%	3.16%	5.87%	5.93%	4.77%	0.00%	0.00%	0.00%
HDCTX Rational Equity Armor Fund	0.18%	0.00%	0.00%	0.17%	0.78%	1.21%	1.10%	5.37%	7.86%	5.60%	3.28%	15.32%

Frequently Asked Questions

Can I hold both CILGX and HDCTX in my portfolio?

CILGX and HDCTX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CILGX or HDCTX?

CILGX has higher volatility (4.17%) compared to HDCTX (3.84%). In terms of maximum drawdown, CILGX dropped -33.57% vs HDCTX's -59.05%.

Which has better risk-adjusted returns?

HDCTX currently has the higher Sharpe Ratio (2.30 vs 0.20), 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.