CPITX vs. STBNX

Last updated Jun 23, 2026

CPITX (Counterpoint Tactical Income Fund) and STBNX (Sierra Tactical Bond Fund) are both Nontraditional Bonds funds. Over the past 5 years, CPITX returned 3.63%/yr vs 1.58%/yr for STBNX. A 0.70 correlation means they provide meaningful diversification when combined. CPITX charges 1.46%/yr vs 1.63%/yr for STBNX.

Performance

CPITX vs. STBNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Counterpoint Tactical Income Fund (CPITX) and Sierra Tactical Bond Fund (STBNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPITX achieves a -0.33% return, which is significantly lower than STBNX's 1.20% return.

CPITX

• 1D: 0.09%
• 1M: 0.42%
• YTD: -0.33%
• 6M: -0.06%
• 1Y: 3.87%
• 3Y*: 5.54%
• 5Y*: 3.63%
• 10Y*: 4.71%

STBNX

• 1D: 0.20%
• 1M: 0.57%
• YTD: 1.20%
• 6M: 1.42%
• 1Y: 5.04%
• 3Y*: 3.84%
• 5Y*: 1.58%
• 10Y*: —

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

CPITX vs. STBNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CPITX Counterpoint Tactical Income Fund	-0.33%	4.58%	6.76%	9.81%	-2.40%	2.53%	8.47%	2.20%
STBNX Sierra Tactical Bond Fund	1.20%	-0.37%	6.36%	6.76%	-4.47%	1.11%	15.56%	2.41%

Correlation

The correlation between CPITX and STBNX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Oct 1, 2019	0.70

The correlation between CPITX and STBNX shifts across timeframes, from 0.70 (all time) to 0.90 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

CPITX vs. STBNX — Risk / Return Rank

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

CPITX

CPITX Risk / Return Rank: 33
CPITX Sharpe Ratio Rank: 34
CPITX Sortino Ratio Rank: 35
CPITX Omega Ratio Rank: 38
CPITX Calmar Ratio Rank: 33
CPITX Martin Ratio Rank: 23

STBNX

STBNX Risk / Return Rank: 43
STBNX Sharpe Ratio Rank: 40
STBNX Sortino Ratio Rank: 44
STBNX Omega Ratio Rank: 43
STBNX Calmar Ratio Rank: 37
STBNX Martin Ratio Rank: 51

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.

CPITX vs. STBNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Counterpoint Tactical Income Fund (CPITX) and Sierra Tactical Bond Fund (STBNX). 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.

	CPITX	STBNX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.71	-0.14
Sortino ratio: Return per unit of downside risk	2.31	2.57	-0.26
Omega ratio: Gain probability vs. loss probability	1.31	1.33	-0.02
Calmar ratio: Return relative to maximum drawdown	2.05	2.16	-0.12
Martin ratio: Return relative to average drawdown	5.26	9.76	-4.50

CPITX vs. STBNX - Sharpe Ratio Comparison

The current CPITX Sharpe Ratio is 1.57, which is comparable to the STBNX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of CPITX and STBNX, 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

CPITX vs. STBNX - Drawdown Comparison

The maximum CPITX drawdown since its inception was -4.59%, smaller than the maximum STBNX drawdown of -8.04%. Use the drawdown chart below to compare losses from any high point for CPITX and STBNX.

Drawdown Indicators

	CPITX	STBNX	Difference
Max Drawdown Largest peak-to-trough decline	-4.59%	-8.04%	+3.45%
Max Drawdown (1Y) Largest decline over 1 year	-1.99%	-2.44%	+0.45%
Max Drawdown (3Y) Largest decline over 3 years	-3.80%	-6.96%	+3.16%
Max Drawdown (5Y) Largest decline over 5 years	-4.59%	-8.04%	+3.45%
Max Drawdown (10Y) Largest decline over 10 years	-4.59%	—	—
Current Drawdown Current decline from peak	-0.88%	-0.81%	-0.07%
Average Drawdown Average peak-to-trough decline	-0.95%	-2.62%	+1.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	0.54%	+0.23%

Volatility

CPITX vs. STBNX - Volatility Comparison

The current volatility for Counterpoint Tactical Income Fund (CPITX) is 0.83%, while Sierra Tactical Bond Fund (STBNX) has a volatility of 0.99%. This indicates that CPITX experiences smaller price fluctuations and is considered to be less risky than STBNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPITX	STBNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.83%	0.99%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	1.88%	2.46%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	2.59%	3.08%	-0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.78%	3.98%	-1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.98%	4.94%	-1.96%

CPITX vs. STBNX - Expense Ratio Comparison

CPITX has a 1.46% expense ratio, which is lower than STBNX's 1.63% expense ratio.

Dividends

CPITX vs. STBNX - Dividend Comparison

CPITX's dividend yield for the trailing twelve months is around 4.86%, less than STBNX's 5.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPITX Counterpoint Tactical Income Fund	4.86%	5.18%	5.92%	5.80%	2.62%	3.93%	2.25%	3.68%	3.52%	4.60%	4.60%	1.39%
STBNX Sierra Tactical Bond Fund	5.24%	4.98%	5.17%	4.53%	1.41%	2.74%	6.55%	0.87%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CPITX and STBNX in my portfolio?

CPITX and STBNX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPITX or STBNX?

STBNX has higher volatility (0.99%) compared to CPITX (0.83%). In terms of maximum drawdown, CPITX dropped -4.59% vs STBNX's -8.04%.

Which has better risk-adjusted returns?

STBNX currently has the higher Sharpe Ratio (1.71 vs 1.57), 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.