CSAIX vs. CSAAX
CSAIX (Credit Suisse Managed Futures Strategy Fund) and CSAAX (Manteio Managed Futures Fund A) are both Systematic Trend funds. Over the past 10 years, CSAIX returned 0.60%/yr vs 0.36%/yr for CSAAX. With a 0.99 correlation, they move nearly in lockstep. CSAIX charges 1.30%/yr vs 1.58%/yr for CSAAX.
Performance
CSAIX vs. CSAAX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with CSAIX having a 6.10% return and CSAAX slightly higher at 6.11%. Over the past 10 years, CSAIX has outperformed CSAAX with an annualized return of 0.60%, while CSAAX has yielded a comparatively lower 0.36% annualized return.
CSAIX
- 1D
- -0.12%
- 1M
- 0.36%
- YTD
- 6.10%
- 6M
- 8.73%
- 1Y
- 13.36%
- 3Y*
- -3.32%
- 5Y*
- 0.36%
- 10Y*
- 0.60%
CSAAX
- 1D
- -0.12%
- 1M
- 0.37%
- YTD
- 6.11%
- 6M
- 8.59%
- 1Y
- 13.10%
- 3Y*
- -3.55%
- 5Y*
- 0.13%
- 10Y*
- 0.36%
CSAIX vs. CSAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CSAIX Credit Suisse Managed Futures Strategy Fund | 6.10% | -5.84% | -5.57% | -6.15% | 21.24% | 7.46% | 1.86% | -4.39% | -4.01% | -1.47% |
CSAAX Manteio Managed Futures Fund A | 6.11% | -6.15% | -5.81% | -6.29% | 20.93% | 7.18% | 1.57% | -4.58% | -4.32% | -1.57% |
Correlation
The correlation between CSAIX and CSAAX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2012 | 0.99 |
The correlation between CSAIX and CSAAX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
CSAIX vs. CSAAX — Risk / Return Rank
CSAIX
CSAAX
CSAIX vs. CSAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Credit Suisse Managed Futures Strategy Fund (CSAIX) and Manteio Managed Futures Fund A (CSAAX). 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.
| CSAIX | CSAAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.23 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 1.67 | +0.01 |
| Martin ratioReturn relative to average drawdown | 4.66 | 4.56 | +0.10 |
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
| CSAIX | CSAAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.13 | 1.13 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.01 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.06 | 0.04 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | 0.23 | +0.01 |
Drawdowns
CSAIX vs. CSAAX - Drawdown Comparison
The maximum CSAIX drawdown since its inception was -28.79%, roughly equal to the maximum CSAAX drawdown of -29.18%. Use the drawdown chart below to compare losses from any high point for CSAIX and CSAAX.
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Drawdown Indicators
| CSAIX | CSAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.79% | -29.18% | +0.39% |
Max Drawdown (1Y)Largest decline over 1 year | -7.73% | -7.71% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -22.50% | -22.80% | +0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -28.79% | -29.18% | +0.39% |
Max Drawdown (10Y)Largest decline over 10 years | -28.79% | -29.18% | +0.39% |
Current DrawdownCurrent decline from peak | -17.74% | -18.37% | +0.63% |
Average DrawdownAverage peak-to-trough decline | -9.54% | -10.66% | +1.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 2.81% | -0.03% |
Volatility
CSAIX vs. CSAAX - Volatility Comparison
Credit Suisse Managed Futures Strategy Fund (CSAIX) and Manteio Managed Futures Fund A (CSAAX) have volatilities of 3.50% and 3.45%, 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
| CSAIX | CSAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.50% | 3.45% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 10.57% | 10.54% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.45% | 11.38% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.47% | 10.43% | +0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.08% | 10.08% | 0.00% |
CSAIX vs. CSAAX - Expense Ratio Comparison
CSAIX has a 1.30% expense ratio, which is lower than CSAAX's 1.58% expense ratio.
Dividends
CSAIX vs. CSAAX - Dividend Comparison
CSAIX's dividend yield for the trailing twelve months is around 2.82%, more than CSAAX's 2.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CSAAX Manteio Managed Futures Fund A | 2.65% | 2.13% | 1.76% | 0.27% | 18.83% | 8.69% | 0.00% | 1.51% | 0.00% | 0.00% | 2.66% | 8.46% |
CSAIX Credit Suisse Managed Futures Strategy Fund | 2.82% | 2.27% | 2.95% | 0.52% | 18.80% | 8.84% | 0.00% | 1.74% | 0.00% | 0.00% | 2.64% | 8.69% |
Frequently Asked Questions
With a correlation of 0.99, CSAIX and CSAAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
CSAIX has higher volatility (3.50%) compared to CSAAX (3.45%). In terms of maximum drawdown, CSAIX dropped -28.79% vs CSAAX's -29.18%.
CSAIX currently has the higher Sharpe Ratio (1.13 vs 1.13), 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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