FARX vs. FOPC

Last updated Aug 1, 2026

FARX (Frontier Asset Absolute Return ETF) and FOPC (Frontier Asset Opportunistic Credit ETF) are both exchange-traded funds - FARX is a Multistrategy fund actively managed by Frontier, while FOPC is a Multisector Bonds fund actively managed by Frontier. Both are actively managed. Over the past year, FARX returned 18.36% vs 2.08% for FOPC. Their 0.09 correlation means their historical movements had little consistent relationship. FARX charges 1.00%/yr vs 0.87%/yr for FOPC.

Performance

FARX vs. FOPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Frontier Asset Absolute Return ETF (FARX) and Frontier Asset Opportunistic Credit ETF (FOPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FARX achieves a 8.85% return, which is significantly higher than FOPC's -0.10% return.

FARX

• 1D: 0.26%
• 1M: 1.45%
• 6M: 5.21%
• YTD: 8.85%
• 1Y: 18.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.25%

FOPC

• 1D: -0.24%
• 1M: -0.89%
• 6M: -0.41%
• YTD: -0.10%
• 1Y: 2.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.82%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FARX Frontier Asset Absolute Return ETF	$13.77K	$28.36K	$41.16K
FOPC Frontier Asset Opportunistic Credit ETF	$45.41K	$57.80K	$62.30K

FARX vs. FOPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FARX Frontier Asset Absolute Return ETF	8.85%	10.61%	0.04%
FOPC Frontier Asset Opportunistic Credit ETF	-0.10%	6.54%	-0.20%

Correlation

The correlation between FARX and FOPC is 0.12, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.12
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024	0.09

Return for Risk

FARX vs. FOPC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FARX

FARX Risk / Return Rank: 93
FARX Sharpe Ratio Rank: 93
FARX Sortino Ratio Rank: 92
FARX Omega Ratio Rank: 93
FARX Calmar Ratio Rank: 96
FARX Martin Ratio Rank: 94

FOPC

FOPC Risk / Return Rank: 36
FOPC Sharpe Ratio Rank: 38
FOPC Sortino Ratio Rank: 37
FOPC Omega Ratio Rank: 34
FOPC Calmar Ratio Rank: 36
FOPC Martin Ratio Rank: 36

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FARX vs. FOPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Frontier Asset Absolute Return ETF (FARX) and Frontier Asset Opportunistic Credit ETF (FOPC). 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.

	FARX	FOPC	Difference
Sharpe ratio: Return per unit of total volatility	2.46	0.95	+1.51
Sortino ratio: Return per unit of downside risk	3.35	1.38	+1.97
Omega ratio: Gain probability vs. loss probability	1.48	1.16	+0.31
Calmar ratio: Return relative to maximum drawdown	6.04	1.27	+4.76
Martin ratio: Return relative to average drawdown	18.24	3.68	+14.56

FARX vs. FOPC - Sharpe Ratio Comparison

The current FARX Sharpe Ratio is 2.46, which is higher than the FOPC Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of FARX and FOPC, 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

FARX vs. FOPC - Drawdown Comparison

The maximum FARX drawdown since its inception was -5.83%, which is greater than FOPC's maximum drawdown of -2.18%. Use the drawdown chart below to compare losses from any high point for FARX and FOPC.

Drawdown Indicators

	FARX	FOPC	Difference
Max Drawdown Largest peak-to-trough decline	-5.83%	-2.18%	-3.65%
Max Drawdown (1Y) Largest decline over 1 year	-2.99%	-2.18%	-0.81%
Current Drawdown Current decline from peak	-0.99%	-1.52%	+0.53%
Average Drawdown Average peak-to-trough decline	-1.08%	-0.47%	-0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	0.75%	+0.24%

Volatility

FARX vs. FOPC - Volatility Comparison

Frontier Asset Absolute Return ETF (FARX) has a higher volatility of 1.70% compared to Frontier Asset Opportunistic Credit ETF (FOPC) at 0.80%. This indicates that FARX's price experiences larger fluctuations and is considered to be riskier than FOPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FARX	FOPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.70%	0.80%	+0.90%
Volatility (6M) Calculated over the trailing 6-month period	5.60%	2.38%	+3.22%
Volatility (1Y) Calculated over the trailing 1-year period	7.36%	2.94%	+4.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.99%	3.11%	+3.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.99%	3.11%	+3.88%

FARX vs. FOPC - Expense Ratio Comparison

FARX has a 1.00% expense ratio, which is higher than FOPC's 0.87% expense ratio.

Dividends

FARX vs. FOPC - Dividend Comparison

FARX's dividend yield for the trailing twelve months is around 2.87%, less than FOPC's 4.24% yield.

Position	TTM	2025	2024
FARX Frontier Asset Absolute Return ETF	2.87%	3.25%	0.19%
FOPC Frontier Asset Opportunistic Credit ETF	4.24%	4.42%	0.06%

Frequently Asked Questions

Can I hold both FARX and FOPC in my portfolio?

FARX and FOPC have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FARX or FOPC?

FARX has higher volatility (1.70%) compared to FOPC (0.80%). In terms of maximum drawdown, FARX dropped -5.83% vs FOPC's -2.18%.

Which ETF is better, FARX or FOPC?

On 1-year performance, FARX leads with 18.36% vs 2.08% for FOPC. On fees, FOPC is cheaper at 0.87% per year. On volatility, FOPC has been the lower-risk option at 0.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FARX or FOPC?

Over the 1-year period, FARX has performed better with a 18.36% return vs 2.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FARX or FOPC?

FOPC is cheaper with a 0.87% expense ratio, compared with 1.00% for FARX.

Which ETF pays a higher dividend yield, FARX or FOPC?

FOPC has the higher dividend yield at 4.24%, compared with 2.87% for FARX.

What is the main difference between FARX and FOPC?

FARX is categorized as Multistrategy, while FOPC is Multisector Bonds. Their fees differ too: 1.00% for FARX and 0.87% for FOPC.

Which has better risk-adjusted returns?

FARX currently has the higher Sharpe Ratio (2.46 vs 0.95), 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.