CTEF vs. CPAI

Last updated Jun 27, 2026

CTEF (Castellan Targeted Equity ETF) and CPAI (Counterpoint Quantitative Equity ETF) are both Mid Cap Blend Equities funds. Both are actively managed. Over the past year, CTEF returned 75.92% vs 38.77% for CPAI. A 0.68 correlation means they provide meaningful diversification when combined. CTEF charges 0.45%/yr vs 0.75%/yr for CPAI.

Performance

CTEF vs. CPAI - Performance Comparison

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

Returns By Period

In the year-to-date period, CTEF achieves a 36.96% return, which is significantly higher than CPAI's 26.83% return.

CTEF

• 1D: -1.25%
• 1M: 7.55%
• YTD: 36.96%
• 6M: 33.67%
• 1Y: 75.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CPAI

• 1D: 0.00%
• 1M: -0.49%
• YTD: 26.83%
• 6M: 24.81%
• 1Y: 38.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CTEF vs. CPAI - Yearly Performance Comparison

	2026 (YTD)	2025
CTEF Castellan Targeted Equity ETF	36.96%	33.10%
CPAI Counterpoint Quantitative Equity ETF	26.83%	13.64%

Correlation

The correlation between CTEF and CPAI is 0.68, 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	0.68
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.68

The correlation between CTEF and CPAI has been stable across timeframes, ranging from 0.68 to 0.68 - a consistent structural relationship.

Return for Risk

CTEF vs. CPAI — Risk / Return Rank

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

CTEF

CTEF Risk / Return Rank: 94
CTEF Sharpe Ratio Rank: 96
CTEF Sortino Ratio Rank: 94
CTEF Omega Ratio Rank: 93
CTEF Calmar Ratio Rank: 91
CTEF Martin Ratio Rank: 94

CPAI

CPAI Risk / Return Rank: 74
CPAI Sharpe Ratio Rank: 74
CPAI Sortino Ratio Rank: 69
CPAI Omega Ratio Rank: 68
CPAI Calmar Ratio Rank: 81
CPAI Martin Ratio Rank: 78

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.

CTEF vs. CPAI - Risk-Adjusted Trends Comparison

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

	CTEF	CPAI	Difference
Sharpe ratio: Return per unit of total volatility	3.41	2.05	+1.35
Sortino ratio: Return per unit of downside risk	4.29	2.70	+1.59
Omega ratio: Gain probability vs. loss probability	1.54	1.35	+0.19
Calmar ratio: Return relative to maximum drawdown	5.14	3.72	+1.42
Martin ratio: Return relative to average drawdown	23.73	13.04	+10.68

CTEF vs. CPAI - Sharpe Ratio Comparison

The current CTEF Sharpe Ratio is 3.41, which is higher than the CPAI Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of CTEF and CPAI, 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

CTEF vs. CPAI - Drawdown Comparison

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

Drawdown Indicators

	CTEF	CPAI	Difference
Max Drawdown Largest peak-to-trough decline	-15.00%	-21.46%	+6.46%
Max Drawdown (1Y) Largest decline over 1 year	-15.00%	-10.48%	-4.52%
Current Drawdown Current decline from peak	-2.42%	-2.29%	-0.13%
Average Drawdown Average peak-to-trough decline	-1.75%	-2.98%	+1.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	2.99%	+0.25%

Volatility

CTEF vs. CPAI - Volatility Comparison

Castellan Targeted Equity ETF (CTEF) has a higher volatility of 8.22% compared to Counterpoint Quantitative Equity ETF (CPAI) at 7.64%. This indicates that CTEF's price experiences larger fluctuations and is considered to be riskier than CPAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CTEF	CPAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.22%	7.64%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	19.01%	15.78%	+3.23%
Volatility (1Y) Calculated over the trailing 1-year period	22.65%	19.08%	+3.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.50%	19.43%	+3.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.50%	19.43%	+3.07%

CTEF vs. CPAI - Expense Ratio Comparison

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

Dividends

CTEF vs. CPAI - Dividend Comparison

CTEF's dividend yield for the trailing twelve months is around 0.06%, less than CPAI's 0.70% 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 CTEF and CPAI in my portfolio?

CTEF and CPAI have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CTEF or CPAI?

CTEF has higher volatility (8.22%) compared to CPAI (7.64%). In terms of maximum drawdown, CTEF dropped -15.00% vs CPAI's -21.46%.

Which ETF is better, CTEF or CPAI?

On 1-year performance, CTEF leads with 75.92% vs 38.77% for CPAI. On fees, CTEF is cheaper at 0.45% per year. On volatility, CPAI has been the lower-risk option at 7.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CTEF or CPAI?

Over the 1-year period, CTEF has performed better with a 75.92% return vs 38.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CTEF or CPAI?

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

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

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

What is the main difference between CTEF and CPAI?

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

Which has better risk-adjusted returns?

CTEF currently has the higher Sharpe Ratio (3.41 vs 2.05), 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.