EVNT vs. CBYYX
EVNT (AltShares Event-Driven ETF) and CBYYX (Victory Pioneer Cat Bond Fund Class Y) are both funds - EVNT is a Event Driven fund actively managed by AltShares, while CBYYX is a Nontraditional Bonds fund actively managed by Victory. Both are actively managed. Over the past year, EVNT returned 11.19% vs 11.04% for CBYYX. At a 0.00 correlation, their price movements are largely independent. EVNT charges 1.30%/yr vs 1.46%/yr for CBYYX.
Performance
EVNT vs. CBYYX - Performance Comparison
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Returns By Period
In the year-to-date period, EVNT achieves a 4.38% return, which is significantly higher than CBYYX's 2.73% return.
EVNT
- 1D
- 0.31%
- 1M
- 1.39%
- YTD
- 4.38%
- 6M
- 4.47%
- 1Y
- 11.19%
- 3Y*
- 10.55%
- 5Y*
- —
- 10Y*
- —
CBYYX
- 1D
- 0.00%
- 1M
- 0.71%
- YTD
- 2.73%
- 6M
- 2.92%
- 1Y
- 11.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EVNT vs. CBYYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EVNT AltShares Event-Driven ETF | 4.38% | 13.72% | 5.13% | 4.44% |
CBYYX Victory Pioneer Cat Bond Fund Class Y | 2.73% | 11.09% | 15.69% | 3.43% |
Correlation
The correlation between EVNT and CBYYX is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 6, 2023 | 0.00 |
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Return for Risk
EVNT vs. CBYYX — Risk / Return Rank
EVNT
CBYYX
EVNT vs. CBYYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AltShares Event-Driven ETF (EVNT) and Victory Pioneer Cat Bond Fund Class Y (CBYYX). 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.
| EVNT | CBYYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -7.63 | ||
| Sortino ratioReturn per unit of downside risk | -29.13 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 9.36 | -8.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.36 | 122.09 | -118.74 |
| Martin ratioReturn relative to average drawdown | 10.70 | 440.62 | -429.91 |
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Drawdowns
EVNT vs. CBYYX - Drawdown Comparison
The maximum EVNT drawdown since its inception was -13.85%, which is greater than CBYYX's maximum drawdown of -8.72%. Use the drawdown chart below to compare losses from any high point for EVNT and CBYYX.
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Drawdown Indicators
| EVNT | CBYYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.85% | -8.72% | -5.13% |
Max Drawdown (1Y)Largest decline over 1 year | -3.35% | -0.09% | -3.26% |
Max Drawdown (3Y)Largest decline over 3 years | -5.15% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.76% | -1.29% | -2.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.03% | +1.02% |
Volatility
EVNT vs. CBYYX - Volatility Comparison
AltShares Event-Driven ETF (EVNT) has a higher volatility of 1.74% compared to Victory Pioneer Cat Bond Fund Class Y (CBYYX) at 0.20%. This indicates that EVNT's price experiences larger fluctuations and is considered to be riskier than CBYYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVNT | CBYYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 0.20% | +1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 3.81% | 0.61% | +3.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.66% | 1.22% | +6.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.23% | 8.14% | +1.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.23% | 8.14% | +1.09% |
EVNT vs. CBYYX - Expense Ratio Comparison
EVNT has a 1.30% expense ratio, which is lower than CBYYX's 1.46% expense ratio.
Dividends
EVNT vs. CBYYX - Dividend Comparison
EVNT's dividend yield for the trailing twelve months is around 4.58%, less than CBYYX's 8.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBYYX Victory Pioneer Cat Bond Fund Class Y | 8.89% | 9.14% | 10.33% | 9.41% | 0.00% |
EVNT AltShares Event-Driven ETF | 4.58% | 4.78% | 0.66% | 0.59% | 2.61% |
Frequently Asked Questions
EVNT and CBYYX have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EVNT has higher volatility (1.74%) compared to CBYYX (0.20%). In terms of maximum drawdown, EVNT dropped -13.85% vs CBYYX's -8.72%.
CBYYX currently has the higher Sharpe Ratio (9.10 vs 1.47), 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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