CSAAX vs. AHLPX
CSAAX (Manteio Managed Futures Fund A) and AHLPX (American Beacon AHL Managed Futures Strategy Fund) are both Systematic Trend funds. Over the past 10 years, CSAAX returned 0.26%/yr vs 4.73%/yr for AHLPX. A 0.79 correlation means they provide meaningful diversification when combined. CSAAX charges 1.58%/yr vs 1.83%/yr for AHLPX.
Performance
CSAAX vs. AHLPX - Performance Comparison
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Returns By Period
In the year-to-date period, CSAAX achieves a 5.20% return, which is significantly lower than AHLPX's 12.45% return. Over the past 10 years, CSAAX has underperformed AHLPX with an annualized return of 0.26%, while AHLPX has yielded a comparatively higher 4.73% annualized return.
CSAAX
- 1D
- 0.75%
- 1M
- -1.22%
- YTD
- 5.20%
- 6M
- 5.07%
- 1Y
- 14.11%
- 3Y*
- -3.45%
- 5Y*
- 0.55%
- 10Y*
- 0.26%
AHLPX
- 1D
- 0.77%
- 1M
- 0.58%
- YTD
- 12.45%
- 6M
- 12.21%
- 1Y
- 30.38%
- 3Y*
- 4.57%
- 5Y*
- 4.81%
- 10Y*
- 4.73%
CSAAX vs. AHLPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSAAX Manteio Managed Futures Fund A | 5.20% | -6.15% | -5.81% | -6.29% | 20.93% | 7.18% | 1.57% | -4.58% | -4.32% | -1.57% |
AHLPX American Beacon AHL Managed Futures Strategy Fund | 12.45% | 2.19% | 1.74% | -4.20% | 16.48% | 4.67% | 10.36% | 0.09% | 2.15% | 4.79% |
Correlation
The correlation between CSAAX and AHLPX is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.79 |
The correlation between CSAAX and AHLPX has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.
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Return for Risk
CSAAX vs. AHLPX — Risk / Return Rank
CSAAX
AHLPX
CSAAX vs. AHLPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manteio Managed Futures Fund A (CSAAX) and American Beacon AHL Managed Futures Strategy Fund (AHLPX). 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.
| CSAAX | AHLPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.61 | ||
| Sortino ratioReturn per unit of downside risk | -2.24 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.52 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 6.14 | -4.30 |
| Martin ratioReturn relative to average drawdown | 4.85 | 19.38 | -14.53 |
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Drawdowns
CSAAX vs. AHLPX - Drawdown Comparison
The maximum CSAAX drawdown since its inception was -29.18%, which is greater than AHLPX's maximum drawdown of -21.90%. Use the drawdown chart below to compare losses from any high point for CSAAX and AHLPX.
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Drawdown Indicators
| CSAAX | AHLPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.18% | -21.90% | -7.28% |
Max Drawdown (1Y)Largest decline over 1 year | -7.71% | -5.02% | -2.69% |
Max Drawdown (3Y)Largest decline over 3 years | -22.20% | -21.90% | -0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -29.18% | -21.90% | -7.28% |
Max Drawdown (10Y)Largest decline over 10 years | -29.18% | -21.90% | -7.28% |
Current DrawdownCurrent decline from peak | -19.07% | -0.19% | -18.88% |
Average DrawdownAverage peak-to-trough decline | -10.70% | -6.75% | -3.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.92% | 1.59% | +1.33% |
Volatility
CSAAX vs. AHLPX - Volatility Comparison
Manteio Managed Futures Fund A (CSAAX) and American Beacon AHL Managed Futures Strategy Fund (AHLPX) have volatilities of 2.66% and 2.54%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CSAAX | AHLPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 2.54% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 10.70% | 7.78% | +2.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.45% | 10.83% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.38% | 9.64% | +0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.09% | 9.52% | +0.57% |
CSAAX vs. AHLPX - Expense Ratio Comparison
CSAAX has a 1.58% expense ratio, which is lower than AHLPX's 1.83% expense ratio.
Dividends
CSAAX vs. AHLPX - Dividend Comparison
CSAAX's dividend yield for the trailing twelve months is around 2.42%, less than AHLPX's 7.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AHLPX American Beacon AHL Managed Futures Strategy Fund | 7.18% | 8.07% | 0.29% | 0.63% | 17.64% | 7.15% | 5.14% | 4.17% | 1.45% | 4.07% | 0.00% | 3.40% |
CSAAX Manteio Managed Futures Fund A | 2.42% | 2.13% | 1.76% | 0.27% | 18.83% | 8.69% | 0.00% | 1.51% | 0.00% | 0.00% | 2.66% | 8.46% |
Frequently Asked Questions
CSAAX and AHLPX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CSAAX has higher volatility (2.66%) compared to AHLPX (2.54%). In terms of maximum drawdown, CSAAX dropped -29.18% vs AHLPX's -21.90%.
AHLPX currently has the higher Sharpe Ratio (2.85 vs 1.24), 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.
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