EIXIX vs. WAVLX

Last updated Jun 24, 2026

EIXIX (Catalyst Enhanced Income Strategy Fund) and WAVLX (Wavelength Interest Rate Neutral Fund) are both Nontraditional Bonds funds. Over the past 5 years, EIXIX returned -4.32%/yr vs 2.69%/yr for WAVLX. At a 0.38 correlation, their price movements are largely independent. EIXIX charges 1.50%/yr vs 0.99%/yr for WAVLX.

Performance

EIXIX vs. WAVLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Catalyst Enhanced Income Strategy Fund (EIXIX) and Wavelength Interest Rate Neutral Fund (WAVLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIXIX achieves a -5.86% return, which is significantly lower than WAVLX's 2.83% return.

EIXIX

• 1D: -0.63%
• 1M: -0.96%
• YTD: -5.86%
• 6M: -5.55%
• 1Y: -13.03%
• 3Y*: -5.12%
• 5Y*: -4.32%
• 10Y*: —

WAVLX

• 1D: -0.29%
• 1M: 0.32%
• YTD: 2.83%
• 6M: 2.77%
• 1Y: 9.09%
• 3Y*: 7.53%
• 5Y*: 2.69%
• 10Y*: 4.19%

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

EIXIX vs. WAVLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EIXIX Catalyst Enhanced Income Strategy Fund	-5.86%	-8.86%	0.88%	-2.09%	-6.82%	4.55%	6.18%	15.84%
WAVLX Wavelength Interest Rate Neutral Fund	2.83%	9.86%	5.21%	7.02%	-11.34%	1.72%	8.29%	11.57%

Correlation

The correlation between EIXIX and WAVLX is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jan 9, 2019	0.38

The correlation between EIXIX and WAVLX shifts across timeframes, from 0.38 (all time) to 0.50 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EIXIX vs. WAVLX — Risk / Return Rank

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

EIXIX

EIXIX Risk / Return Rank: 0
EIXIX Sharpe Ratio Rank: 0
EIXIX Sortino Ratio Rank: 0
EIXIX Omega Ratio Rank: 0
EIXIX Calmar Ratio Rank: 0
EIXIX Martin Ratio Rank: 0

WAVLX

WAVLX Risk / Return Rank: 70
WAVLX Sharpe Ratio Rank: 64
WAVLX Sortino Ratio Rank: 69
WAVLX Omega Ratio Rank: 69
WAVLX Calmar Ratio Rank: 72
WAVLX Martin Ratio Rank: 76

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.

EIXIX vs. WAVLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Catalyst Enhanced Income Strategy Fund (EIXIX) and Wavelength Interest Rate Neutral Fund (WAVLX). 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.

	EIXIX	WAVLX	Difference
Sharpe ratio: Return per unit of total volatility	-1.85	2.16	-4.01
Sortino ratio: Return per unit of downside risk	-2.43	3.15	-5.58
Omega ratio: Gain probability vs. loss probability	0.72	1.42	-0.71
Calmar ratio: Return relative to maximum drawdown	-0.91	3.13	-4.04
Martin ratio: Return relative to average drawdown	-1.68	13.29	-14.97

EIXIX vs. WAVLX - Sharpe Ratio Comparison

The current EIXIX Sharpe Ratio is -1.85, which is lower than the WAVLX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of EIXIX and WAVLX, 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

EIXIX vs. WAVLX - Drawdown Comparison

The maximum EIXIX drawdown since its inception was -21.39%, which is greater than WAVLX's maximum drawdown of -14.39%. Use the drawdown chart below to compare losses from any high point for EIXIX and WAVLX.

Drawdown Indicators

	EIXIX	WAVLX	Difference
Max Drawdown Largest peak-to-trough decline	-21.39%	-14.39%	-7.00%
Max Drawdown (1Y) Largest decline over 1 year	-13.76%	-3.03%	-10.73%
Max Drawdown (3Y) Largest decline over 3 years	-16.70%	-5.33%	-11.37%
Max Drawdown (5Y) Largest decline over 5 years	-21.39%	-14.39%	-7.00%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.39%	—
Current Drawdown Current decline from peak	-21.39%	-0.58%	-20.81%
Average Drawdown Average peak-to-trough decline	-5.48%	-2.97%	-2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.41%	0.71%	+6.70%

Volatility

EIXIX vs. WAVLX - Volatility Comparison

Catalyst Enhanced Income Strategy Fund (EIXIX) has a higher volatility of 1.82% compared to Wavelength Interest Rate Neutral Fund (WAVLX) at 1.52%. This indicates that EIXIX's price experiences larger fluctuations and is considered to be riskier than WAVLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIXIX	WAVLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.82%	1.52%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	4.86%	3.39%	+1.47%
Volatility (1Y) Calculated over the trailing 1-year period	6.78%	4.38%	+2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.40%	5.61%	-1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.70%	5.32%	-0.62%

EIXIX vs. WAVLX - Expense Ratio Comparison

EIXIX has a 1.50% expense ratio, which is higher than WAVLX's 0.99% expense ratio.

Dividends

EIXIX vs. WAVLX - Dividend Comparison

EIXIX's dividend yield for the trailing twelve months is around 5.14%, more than WAVLX's 4.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIXIX Catalyst Enhanced Income Strategy Fund	5.14%	7.24%	9.31%	8.57%	6.68%	7.11%	5.65%	4.00%	0.00%	0.00%	0.00%	0.00%
WAVLX Wavelength Interest Rate Neutral Fund	4.34%	3.67%	4.41%	4.83%	3.63%	2.83%	2.21%	4.96%	2.65%	2.09%	2.13%	2.18%

Frequently Asked Questions

Can I hold both EIXIX and WAVLX in my portfolio?

EIXIX and WAVLX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIXIX or WAVLX?

EIXIX has higher volatility (1.82%) compared to WAVLX (1.52%). In terms of maximum drawdown, EIXIX dropped -21.39% vs WAVLX's -14.39%.

Which has better risk-adjusted returns?

WAVLX currently has the higher Sharpe Ratio (2.16 vs -1.85), 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.