CLPAX vs. CLTAX

Last updated Aug 1, 2026

CLPAX (Catalyst Nasdaq-100 Hedged Equity Fund) and CLTAX (Catalyst/Lyons Tactical Allocation Fund) are both mutual funds - CLPAX is a Derivative Income fund managed by Catalyst Mutual Funds, while CLTAX is a Tactical Allocation fund managed by Catalyst Mutual Funds. Over the past 10 years, CLPAX returned 7.01%/yr vs 7.08%/yr for CLTAX. Their 0.68 correlation means they have sometimes moved together and sometimes differently. CLPAX charges 1.74%/yr vs 1.53%/yr for CLTAX.

Performance

CLPAX vs. CLTAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Catalyst Nasdaq-100 Hedged Equity Fund (CLPAX) and Catalyst/Lyons Tactical Allocation Fund (CLTAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLPAX achieves a 7.57% return, which is significantly lower than CLTAX's 8.39% return. Both investments have delivered pretty close results over the past 10 years, with CLPAX having a 7.01% annualized return and CLTAX not far ahead at 7.08%.

CLPAX

• 1D: 1.76%
• 1M: -3.34%
• 6M: 6.47%
• YTD: 7.57%
• 1Y: 15.02%
• 3Y*: 12.20%
• 5Y*: 5.95%
• 10Y*: 7.01%
• ALL TIME*: 5.96%

CLTAX

• 1D: 0.64%
• 1M: -2.44%
• 6M: 6.25%
• YTD: 8.39%
• 1Y: 17.48%
• 3Y*: 10.57%
• 5Y*: 1.77%
• 10Y*: 7.08%
• ALL TIME*: 8.50%

*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)
CLPAX Catalyst Nasdaq-100 Hedged Equity Fund	$0.00	$0.00	$0.00
CLTAX Catalyst/Lyons Tactical Allocation Fund	$0.00	$0.00	$0.00

CLPAX vs. CLTAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CLPAX Catalyst Nasdaq-100 Hedged Equity Fund	7.57%	12.32%	11.42%	35.92%	-30.54%	13.11%	5.25%	19.41%	-3.65%	8.20%
CLTAX Catalyst/Lyons Tactical Allocation Fund	8.39%	15.26%	3.51%	10.16%	-24.36%	17.82%	27.88%	2.80%	-4.99%	16.74%

Correlation

The correlation between CLPAX and CLTAX is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.82
Correlation (3Y) Balances recent behavior with more history.	0.72
Correlation (5Y) Shows whether the relationship held over a longer period.	0.68
Correlation (10Y) Provides a long-term view across more market conditions.	0.62
Correlation (All Time) Calculated using the full available price history since Jan 3, 2014	0.68

The correlation between CLPAX and CLTAX shifts across timeframes, from 0.62 (10 years) to 0.82 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CLPAX vs. CLTAX — Risk / Return Rank

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

CLPAX

CLPAX Risk / Return Rank: 21
CLPAX Sharpe Ratio Rank: 23
CLPAX Sortino Ratio Rank: 23
CLPAX Omega Ratio Rank: 22
CLPAX Calmar Ratio Rank: 20
CLPAX Martin Ratio Rank: 18

CLTAX

CLTAX Risk / Return Rank: 31
CLTAX Sharpe Ratio Rank: 26
CLTAX Sortino Ratio Rank: 26
CLTAX Omega Ratio Rank: 26
CLTAX Calmar Ratio Rank: 33
CLTAX Martin Ratio Rank: 43

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.

CLPAX vs. CLTAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Catalyst Nasdaq-100 Hedged Equity Fund (CLPAX) and Catalyst/Lyons Tactical Allocation Fund (CLTAX). 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.

	CLPAX	CLTAX	Difference
Sharpe ratio: Return per unit of total volatility	0.80	0.94	-0.14
Sortino ratio: Return per unit of downside risk	1.20	1.38	-0.18
Omega ratio: Gain probability vs. loss probability	1.14	1.17	-0.03
Calmar ratio: Return relative to maximum drawdown	0.96	1.46	-0.50
Martin ratio: Return relative to average drawdown	2.42	6.34	-3.91

CLPAX vs. CLTAX - Sharpe Ratio Comparison

The current CLPAX Sharpe Ratio is 0.80, which is comparable to the CLTAX Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of CLPAX and CLTAX, 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

CLPAX vs. CLTAX - Drawdown Comparison

The maximum CLPAX drawdown since its inception was -32.47%, which is greater than CLTAX's maximum drawdown of -28.93%. Use the drawdown chart below to compare losses from any high point for CLPAX and CLTAX.

Drawdown Indicators

	CLPAX	CLTAX	Difference
Max Drawdown Largest peak-to-trough decline	-32.47%	-28.93%	-3.54%
Max Drawdown (1Y) Largest decline over 1 year	-12.87%	-10.91%	-1.96%
Max Drawdown (3Y) Largest decline over 3 years	-18.37%	-16.53%	-1.84%
Max Drawdown (5Y) Largest decline over 5 years	-32.47%	-26.92%	-5.55%
Max Drawdown (10Y) Largest decline over 10 years	-32.47%	-28.93%	-3.54%
Current Drawdown Current decline from peak	-8.58%	-4.87%	-3.71%
Average Drawdown Average peak-to-trough decline	-8.04%	-7.95%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.09%	2.51%	+2.58%

Volatility

CLPAX vs. CLTAX - Volatility Comparison

The current volatility for Catalyst Nasdaq-100 Hedged Equity Fund (CLPAX) is 4.33%, while Catalyst/Lyons Tactical Allocation Fund (CLTAX) has a volatility of 4.82%. This indicates that CLPAX experiences smaller price fluctuations and is considered to be less risky than CLTAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLPAX	CLTAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	4.82%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	12.12%	13.51%	-1.39%
Volatility (1Y) Calculated over the trailing 1-year period	15.44%	17.04%	-1.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.16%	14.85%	+1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.55%	14.32%	+0.23%

CLPAX vs. CLTAX - Expense Ratio Comparison

CLPAX has a 1.74% expense ratio, which is higher than CLTAX's 1.53% expense ratio.

Dividends

CLPAX vs. CLTAX - Dividend Comparison

CLPAX's dividend yield for the trailing twelve months is around 8.46%, less than CLTAX's 9.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CLPAX Catalyst Nasdaq-100 Hedged Equity Fund	8.46%	9.10%	0.00%	0.00%	2.68%	0.32%	0.49%	5.41%	0.30%	0.02%	0.00%	17.26%
CLTAX Catalyst/Lyons Tactical Allocation Fund	9.28%	10.06%	0.02%	1.02%	12.48%	0.55%	3.42%	12.17%	2.73%	2.81%	1.35%	6.33%

Frequently Asked Questions

Can I hold both CLPAX and CLTAX in my portfolio?

CLPAX and CLTAX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLPAX or CLTAX?

CLTAX has higher volatility (4.82%) compared to CLPAX (4.33%). In terms of maximum drawdown, CLPAX dropped -32.47% vs CLTAX's -28.93%.

Which has better risk-adjusted returns?

CLTAX currently has the higher Sharpe Ratio (0.94 vs 0.80), 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.