CSAAX vs. ABYAX
Compare and contrast key facts about Manteio Managed Futures Fund A (CSAAX) and Abbey Capital Futures Strategy Fund Class A (ABYAX).
CSAAX is an actively managed fund by Investment Managers Series Trust III. It was launched on Sep 28, 2012. ABYAX is managed by Abbey Capital. It was launched on Aug 29, 2014.
Performance
CSAAX vs. ABYAX - Performance Comparison
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CSAAX vs. ABYAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSAAX Manteio Managed Futures Fund A | 2.61% | -6.15% | -5.81% | -6.29% | 20.93% | 7.18% | 1.57% | -4.58% | -4.32% | -1.57% |
ABYAX Abbey Capital Futures Strategy Fund Class A | 4.46% | 1.47% | 0.77% | -3.55% | 16.76% | 3.19% | 7.59% | 8.65% | -6.49% | -0.26% |
Returns By Period
In the year-to-date period, CSAAX achieves a 2.61% return, which is significantly lower than ABYAX's 4.46% return. Over the past 10 years, CSAAX has underperformed ABYAX with an annualized return of -0.09%, while ABYAX has yielded a comparatively higher 2.58% annualized return.
CSAAX
- 1D
- -0.63%
- 1M
- -3.25%
- YTD
- 2.61%
- 6M
- 6.53%
- 1Y
- -4.27%
- 3Y*
- -3.91%
- 5Y*
- 0.49%
- 10Y*
- -0.09%
ABYAX
- 1D
- 0.00%
- 1M
- -1.38%
- YTD
- 4.46%
- 6M
- 7.57%
- 1Y
- 8.17%
- 3Y*
- 2.13%
- 5Y*
- 3.46%
- 10Y*
- 2.58%
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CSAAX vs. ABYAX - Expense Ratio Comparison
CSAAX has a 1.58% expense ratio, which is lower than ABYAX's 2.04% expense ratio.
Return for Risk
CSAAX vs. ABYAX — Risk / Return Rank
CSAAX
ABYAX
CSAAX vs. ABYAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manteio Managed Futures Fund A (CSAAX) and Abbey Capital Futures Strategy Fund Class A (ABYAX). 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.
| CSAAX | ABYAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.40 | 1.02 | -1.43 |
Sortino ratioReturn per unit of downside risk | -0.43 | 1.45 | -1.88 |
Omega ratioGain probability vs. loss probability | 0.93 | 1.19 | -0.25 |
Calmar ratioReturn relative to maximum drawdown | -0.34 | 1.54 | -1.88 |
Martin ratioReturn relative to average drawdown | -0.48 | 3.04 | -3.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CSAAX | ABYAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | 1.02 | -1.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.05 | 0.44 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.01 | 0.32 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.45 | -0.24 |
Correlation
The correlation between CSAAX and ABYAX is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
CSAAX vs. ABYAX - Dividend Comparison
CSAAX's dividend yield for the trailing twelve months is around 2.74%, more than ABYAX's 1.22% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSAAX Manteio Managed Futures Fund A | 2.74% | 2.13% | 1.76% | 0.27% | 18.83% | 8.69% | 0.00% | 1.51% | 0.00% | 0.00% | 2.66% | 8.46% |
ABYAX Abbey Capital Futures Strategy Fund Class A | 1.22% | 1.27% | 1.68% | 0.99% | 15.33% | 3.57% | 1.36% | 8.50% | 0.00% | 0.00% | 0.00% | 0.06% |
Drawdowns
CSAAX vs. ABYAX - Drawdown Comparison
The maximum CSAAX drawdown since its inception was -29.18%, which is greater than ABYAX's maximum drawdown of -17.96%. Use the drawdown chart below to compare losses from any high point for CSAAX and ABYAX.
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Drawdown Indicators
| CSAAX | ABYAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.18% | -17.96% | -11.22% |
Max Drawdown (1Y)Largest decline over 1 year | -13.92% | -4.30% | -9.62% |
Max Drawdown (5Y)Largest decline over 5 years | -29.18% | -15.23% | -13.95% |
Max Drawdown (10Y)Largest decline over 10 years | -29.18% | -15.23% | -13.95% |
Current DrawdownCurrent decline from peak | -21.06% | -3.92% | -17.14% |
Average DrawdownAverage peak-to-trough decline | -10.55% | -7.30% | -3.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.55% | 2.49% | +8.06% |
Volatility
CSAAX vs. ABYAX - Volatility Comparison
Manteio Managed Futures Fund A (CSAAX) has a higher volatility of 4.60% compared to Abbey Capital Futures Strategy Fund Class A (ABYAX) at 1.85%. This indicates that CSAAX's price experiences larger fluctuations and is considered to be riskier than ABYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSAAX | ABYAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 1.85% | +2.75% |
Volatility (6M)Calculated over the trailing 6-month period | 10.05% | 6.40% | +3.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.56% | 7.63% | +4.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.39% | 7.98% | +2.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.02% | 7.98% | +2.04% |