CPAI vs. CTEF

Last updated Jul 14, 2026

CPAI (Counterpoint Quantitative Equity ETF) and CTEF (Castellan Targeted Equity ETF) are both Mid Cap Blend Equities funds. Both are actively managed. Over the past year, CPAI returned 43.95% vs 69.18% for CTEF. A 0.69 correlation means they provide meaningful diversification when combined. CPAI charges 0.75%/yr vs 0.45%/yr for CTEF.

Performance

CPAI vs. CTEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Counterpoint Quantitative Equity ETF (CPAI) and Castellan Targeted Equity ETF (CTEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPAI achieves a 27.31% return, which is significantly lower than CTEF's 34.60% return.

CPAI

• 1D: -0.55%
• 1M: 0.79%
• 6M: 16.63%
• YTD: 27.31%
• 1Y: 43.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CTEF

• 1D: -2.30%
• 1M: 1.32%
• 6M: 29.15%
• YTD: 34.60%
• 1Y: 69.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CPAI vs. CTEF - Yearly Performance Comparison

	2026 (YTD)	2025
CPAI Counterpoint Quantitative Equity ETF	27.31%	13.64%
CTEF Castellan Targeted Equity ETF	34.60%	33.10%

Correlation

The correlation between CPAI and CTEF is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.69

The correlation between CPAI and CTEF has been stable across timeframes, ranging from 0.69 to 0.70 - a consistent structural relationship.

Return for Risk

CPAI vs. CTEF — Risk / Return Rank

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

CPAI

CPAI Risk / Return Rank: 87
CPAI Sharpe Ratio Rank: 89
CPAI Sortino Ratio Rank: 84
CPAI Omega Ratio Rank: 83
CPAI Calmar Ratio Rank: 89
CPAI Martin Ratio Rank: 90

CTEF

CTEF Risk / Return Rank: 93
CTEF Sharpe Ratio Rank: 95
CTEF Sortino Ratio Rank: 94
CTEF Omega Ratio Rank: 91
CTEF Calmar Ratio Rank: 91
CTEF Martin Ratio Rank: 94

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.

CPAI vs. CTEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Counterpoint Quantitative Equity ETF (CPAI) and Castellan Targeted Equity ETF (CTEF). 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.

	CPAI	CTEF	Difference
Sharpe ratio: Return per unit of total volatility	2.32	3.00	-0.68
Sortino ratio: Return per unit of downside risk	3.00	3.84	-0.85
Omega ratio: Gain probability vs. loss probability	1.39	1.48	-0.08
Calmar ratio: Return relative to maximum drawdown	4.21	4.64	-0.42
Martin ratio: Return relative to average drawdown	15.88	21.02	-5.14

CPAI vs. CTEF - Sharpe Ratio Comparison

The current CPAI Sharpe Ratio is 2.32, which is comparable to the CTEF Sharpe Ratio of 3.00. The chart below compares the historical Sharpe Ratios of CPAI and CTEF, 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

CPAI vs. CTEF - Drawdown Comparison

The maximum CPAI drawdown since its inception was -21.46%, which is greater than CTEF's maximum drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for CPAI and CTEF.

Drawdown Indicators

	CPAI	CTEF	Difference
Max Drawdown Largest peak-to-trough decline	-21.46%	-15.00%	-6.46%
Max Drawdown (1Y) Largest decline over 1 year	-10.48%	-15.00%	+4.52%
Current Drawdown Current decline from peak	-1.92%	-4.77%	+2.85%
Average Drawdown Average peak-to-trough decline	-2.95%	-1.79%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	3.30%	-0.53%

Volatility

CPAI vs. CTEF - Volatility Comparison

The current volatility for Counterpoint Quantitative Equity ETF (CPAI) is 5.93%, while Castellan Targeted Equity ETF (CTEF) has a volatility of 8.60%. This indicates that CPAI experiences smaller price fluctuations and is considered to be less risky than CTEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPAI	CTEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.93%	8.60%	-2.67%
Volatility (6M) Calculated over the trailing 6-month period	15.71%	19.41%	-3.70%
Volatility (1Y) Calculated over the trailing 1-year period	19.09%	23.22%	-4.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.38%	22.65%	-3.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.38%	22.65%	-3.27%

CPAI vs. CTEF - Expense Ratio Comparison

CPAI has a 0.75% expense ratio, which is higher than CTEF's 0.45% expense ratio.

Dividends

CPAI vs. CTEF - Dividend Comparison

CPAI's dividend yield for the trailing twelve months is around 0.70%, more than CTEF's 0.06% yield.

Position	TTM	2025	2024	2023
CPAI Counterpoint Quantitative Equity ETF	0.70%	0.89%	0.41%	0.06%
CTEF Castellan Targeted Equity ETF	0.06%	0.08%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CPAI and CTEF in my portfolio?

CPAI and CTEF have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPAI or CTEF?

CTEF has higher volatility (8.60%) compared to CPAI (5.93%). In terms of maximum drawdown, CPAI dropped -21.46% vs CTEF's -15.00%.

Which ETF is better, CPAI or CTEF?

On 1-year performance, CTEF leads with 69.18% vs 43.95% for CPAI. On fees, CTEF is cheaper at 0.45% per year. On volatility, CPAI has been the lower-risk option at 5.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CPAI or CTEF?

Over the 1-year period, CTEF has performed better with a 69.18% return vs 43.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CPAI or CTEF?

CTEF is cheaper with a 0.45% expense ratio, compared with 0.75% for CPAI.

Which ETF pays a higher dividend yield, CPAI or CTEF?

CPAI has the higher dividend yield at 0.70%, compared with 0.06% for CTEF.

What is the main difference between CPAI and CTEF?

They also come from different issuers: Counterpoint Funds and Castellan. Their fees differ too: 0.75% for CPAI and 0.45% for CTEF.

Which has better risk-adjusted returns?

CTEF currently has the higher Sharpe Ratio (3.00 vs 2.32), 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.