COAGX vs. BTPIX

Last updated Apr 3, 2026

Compare and contrast key facts about Caldwell & Orkin - Gator Capital Long/Short Fund (COAGX) and Salient Tactical Plus Fund (BTPIX).

COAGX is managed by Caldwell & Orkin. It was launched on Aug 23, 1992. BTPIX is managed by Salient Funds. It was launched on Dec 30, 2012.

Performance

COAGX vs. BTPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Caldwell & Orkin - Gator Capital Long/Short Fund (COAGX) and Salient Tactical Plus Fund (BTPIX). The values are adjusted to include any dividend payments, if applicable.

COAGX vs. BTPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COAGX Caldwell & Orkin - Gator Capital Long/Short Fund	3.61%	17.44%	35.58%	31.98%	-7.18%	27.17%	11.06%	24.20%	-15.53%	0.93%
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%

Returns By Period

COAGX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BTPIX

• 1D: 0.94%
• 1M: -2.81%
• YTD: -0.83%
• 6M: -0.10%
• 1Y: -0.28%
• 3Y*: 1.45%
• 5Y*: 1.46%
• 10Y*: 3.36%

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

COAGX vs. BTPIX - Expense Ratio Comparison

COAGX has a 2.00% expense ratio, which is higher than BTPIX's 1.08% expense ratio.

COAGX

Caldwell & Orkin - Gator Capital Long/Short Fund

BTPIX

Salient Tactical Plus Fund

Return for Risk

COAGX vs. BTPIX — Risk / Return Rank

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

BTPIX

BTPIX Risk / Return Rank: 4
BTPIX Sharpe Ratio Rank: 4
BTPIX Sortino Ratio Rank: 4
BTPIX Omega Ratio Rank: 4
BTPIX Calmar Ratio Rank: 5
BTPIX Martin Ratio Rank: 5

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.

COAGX vs. BTPIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Caldwell & Orkin - Gator Capital Long/Short Fund (COAGX) and Salient Tactical Plus Fund (BTPIX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	COAGX	BTPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.01	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.24	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.44	—

Correlation

The correlation between COAGX and BTPIX is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

COAGX vs. BTPIX - Dividend Comparison

COAGX has not paid dividends to shareholders, while BTPIX's dividend yield for the trailing twelve months is around 2.83%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COAGX Caldwell & Orkin - Gator Capital Long/Short Fund	0.00%	0.00%	0.81%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.81%
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%	0.00%

Drawdowns

Drawdown Indicators

	COAGX	BTPIX	Difference
Max Drawdown Largest peak-to-trough decline	—	-13.30%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-6.84%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-8.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-11.04%	—
Current Drawdown Current decline from peak	—	-5.88%	—
Average Drawdown Average peak-to-trough decline	—	-3.90%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.63%	—

Volatility

Volatility by Period

	COAGX	BTPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.09%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	8.83%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	6.11%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	8.62%	—