EVOIX vs. EQCHX

Last updated Jun 3, 2026

EVOIX (Altegris Futures Evolution Strategy Fund) and EQCHX (AXS Chesapeake Strategy Fund Class I) are both Systematic Trend funds. A 0.64 correlation means they provide meaningful diversification when combined. EVOIX charges 1.34%/yr vs 1.91%/yr for EQCHX.

Performance

EVOIX vs. EQCHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Altegris Futures Evolution Strategy Fund (EVOIX) and AXS Chesapeake Strategy Fund Class I (EQCHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EVOIX

• 1D: 1.35%
• 1M: 1.19%
• YTD: 8.83%
• 6M: 12.20%
• 1Y: 25.38%
• 3Y*: 6.16%
• 5Y*: 6.99%
• 10Y*: 3.59%

EQCHX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EVOIX vs. EQCHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EVOIX Altegris Futures Evolution Strategy Fund	8.83%	4.69%	3.86%	5.03%	12.84%	12.20%	-12.94%	4.22%	-7.58%	9.09%
EQCHX AXS Chesapeake Strategy Fund Class I	0.83%	-8.09%	-3.79%	-8.07%	20.13%	12.28%	6.96%	-2.56%	-12.91%	15.11%

Correlation

The correlation between EVOIX and EQCHX is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Sep 11, 2012	0.64

The correlation between EVOIX and EQCHX shifts across timeframes, from 0.56 (1 year) to 0.67 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

EVOIX vs. EQCHX — Risk / Return Rank

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

EVOIX

EVOIX Risk / Return Rank: 76
EVOIX Sharpe Ratio Rank: 76
EVOIX Sortino Ratio Rank: 62
EVOIX Omega Ratio Rank: 67
EVOIX Calmar Ratio Rank: 91
EVOIX Martin Ratio Rank: 82

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.

EVOIX vs. EQCHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Altegris Futures Evolution Strategy Fund (EVOIX) and AXS Chesapeake Strategy Fund Class I (EQCHX). 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.

	EVOIX	EQCHX	Difference
Sharpe ratio Return per unit of total volatility	2.52	—	—
Sortino ratio Return per unit of downside risk	3.31	—	—
Omega ratio Gain probability vs. loss probability	1.46	—	—
Calmar ratio Return relative to maximum drawdown	4.77	—	—
Martin ratio Return relative to average drawdown	15.53	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EVOIX	EQCHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	—	—

Drawdowns

Drawdown Indicators

	EVOIX	EQCHX	Difference
Max Drawdown Largest peak-to-trough decline	-29.57%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-5.32%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.80%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-29.57%	—	—
Current Drawdown Current decline from peak	-1.45%	—	—
Average Drawdown Average peak-to-trough decline	-8.16%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	—	—

Volatility

Volatility by Period

	EVOIX	EQCHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.79%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.15%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.73%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.49%	—	—

EVOIX vs. EQCHX - Expense Ratio Comparison

EVOIX has a 1.34% expense ratio, which is lower than EQCHX's 1.91% expense ratio.

Dividends

EVOIX vs. EQCHX - Dividend Comparison

EVOIX's dividend yield for the trailing twelve months is around 9.36%, while EQCHX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQCHX AXS Chesapeake Strategy Fund Class I	0.00%	0.00%	0.62%	1.82%	1.54%	20.40%	0.00%	3.86%	1.18%	0.00%	0.00%	1.34%
EVOIX Altegris Futures Evolution Strategy Fund	9.36%	11.11%	10.09%	1.71%	34.87%	9.73%	2.23%	1.63%	5.52%	1.57%	7.27%	9.05%

Frequently Asked Questions

Can I hold both EVOIX and EQCHX in my portfolio?

EVOIX and EQCHX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.