CLPAX vs. VOO

Last updated Jun 6, 2026

CLPAX (Catalyst Nasdaq-100 Hedged Equity Fund) and VOO (Vanguard S&P 500 ETF) are both funds - CLPAX is a Derivative Income fund managed by Catalyst Mutual Funds, while VOO is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, CLPAX returned 7.94%/yr vs 15.23%/yr for VOO. Their correlation of 0.84 suggests significant overlap in exposure. CLPAX charges 1.74%/yr vs 0.03%/yr for VOO.

Performance

CLPAX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Catalyst Nasdaq-100 Hedged Equity Fund (CLPAX) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLPAX achieves a 16.56% return, which is significantly higher than VOO's 8.45% return. Over the past 10 years, CLPAX has underperformed VOO with an annualized return of 7.94%, while VOO has yielded a comparatively higher 15.23% annualized return.

CLPAX

• 1D: -0.44%
• 1M: 4.67%
• YTD: 16.56%
• 6M: 11.98%
• 1Y: 28.56%
• 3Y*: 17.45%
• 5Y*: 9.33%
• 10Y*: 7.94%

VOO

• 1D: -2.59%
• 1M: 0.50%
• YTD: 8.45%
• 6M: 8.18%
• 1Y: 25.87%
• 3Y*: 21.52%
• 5Y*: 13.39%
• 10Y*: 15.23%

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

CLPAX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CLPAX Catalyst Nasdaq-100 Hedged Equity Fund	16.56%	12.32%	11.42%	35.92%	-30.54%	13.11%	5.25%	19.41%	-3.65%	8.20%
VOO Vanguard S&P 500 ETF	8.45%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between CLPAX and VOO is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jan 6, 2014	0.84

The correlation between CLPAX and VOO has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.

Return for Risk

CLPAX vs. VOO — Risk / Return Rank

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

CLPAX

CLPAX Risk / Return Rank: 42
CLPAX Sharpe Ratio Rank: 52
CLPAX Sortino Ratio Rank: 49
CLPAX Omega Ratio Rank: 45
CLPAX Calmar Ratio Rank: 36
CLPAX Martin Ratio Rank: 27

VOO

VOO Risk / Return Rank: 66
VOO Sharpe Ratio Rank: 67
VOO Sortino Ratio Rank: 63
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 60
VOO Martin Ratio Rank: 73

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.

CLPAX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Catalyst Nasdaq-100 Hedged Equity Fund (CLPAX) and Vanguard S&P 500 ETF (VOO). 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.

	CLPAX	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.15	-0.11
Sortino ratio: Return per unit of downside risk	2.84	2.89	-0.06
Omega ratio: Gain probability vs. loss probability	1.35	1.39	-0.04
Calmar ratio: Return relative to maximum drawdown	2.17	2.92	-0.75
Martin ratio: Return relative to average drawdown	6.07	13.53	-7.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLPAX vs. VOO - Sharpe Ratio Comparison

The current CLPAX Sharpe Ratio is 2.04, which is comparable to the VOO Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of CLPAX and VOO, 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

	CLPAX	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	2.15	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.80	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.85	-0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.88	-0.41

Drawdowns

CLPAX vs. VOO - Drawdown Comparison

The maximum CLPAX drawdown since its inception was -32.47%, roughly equal to the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for CLPAX and VOO.

Drawdown Indicators

	CLPAX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-32.47%	-33.99%	+1.52%
Max Drawdown (1Y) Largest decline over 1 year	-12.87%	-8.90%	-3.97%
Max Drawdown (3Y) Largest decline over 3 years	-18.37%	-18.69%	+0.32%
Max Drawdown (5Y) Largest decline over 5 years	-32.47%	-24.52%	-7.95%
Max Drawdown (10Y) Largest decline over 10 years	-32.47%	-33.99%	+1.52%
Current Drawdown Current decline from peak	-0.95%	-2.90%	+1.95%
Average Drawdown Average peak-to-trough decline	-8.08%	-3.69%	-4.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.59%	1.92%	+2.67%

Volatility

CLPAX vs. VOO - Volatility Comparison

Catalyst Nasdaq-100 Hedged Equity Fund (CLPAX) has a higher volatility of 4.95% compared to Vanguard S&P 500 ETF (VOO) at 3.74%. This indicates that CLPAX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLPAX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	3.74%	+1.21%
Volatility (6M) Calculated over the trailing 6-month period	10.25%	9.30%	+0.95%
Volatility (1Y) Calculated over the trailing 1-year period	13.66%	12.10%	+1.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.81%	16.84%	-1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.47%	18.02%	-3.55%

CLPAX vs. VOO - Expense Ratio Comparison

CLPAX has a 1.74% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

CLPAX vs. VOO - Dividend Comparison

CLPAX's dividend yield for the trailing twelve months is around 7.81%, more than VOO's 1.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CLPAX Catalyst Nasdaq-100 Hedged Equity Fund	7.81%	9.10%	0.00%	0.00%	2.68%	0.32%	0.49%	5.41%	0.30%	0.02%	0.00%	17.26%
VOO Vanguard S&P 500 ETF	1.05%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both CLPAX and VOO in my portfolio?

CLPAX and VOO have a correlation of 0.88, 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 VOO?

CLPAX has higher volatility (4.95%) compared to VOO (3.74%). In terms of maximum drawdown, CLPAX dropped -32.47% vs VOO's -33.99%.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.15 vs 2.04), 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.