FARX vs. PPI

Last updated Jun 4, 2026

FARX (Frontier Asset Absolute Return ETF) and PPI (AXS Astoria Inflation Sensitive ETF) are both exchange-traded funds - FARX is a Multistrategy fund actively managed by Frontier, while PPI is a Global Allocation fund actively managed by AXS. Both are actively managed. At a correlation of -0.40, they often move in opposite directions. FARX charges 1.00%/yr vs 0.76%/yr for PPI.

Performance

FARX vs. PPI - Performance Comparison

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

Returns By Period

FARX

• 1D: -0.14%
• 1M: 1.27%
• YTD: 9.60%
• 6M: 10.73%
• 1Y: 20.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PPI

• 1D: -0.13%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FARX vs. PPI - Yearly Performance Comparison

	2026 (YTD)
FARX Frontier Asset Absolute Return ETF	0.69%
PPI AXS Astoria Inflation Sensitive ETF	-0.59%

Correlation

The correlation between FARX and PPI is -0.40, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	-0.40

Return for Risk

FARX vs. PPI — Risk / Return Rank

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

FARX

FARX Risk / Return Rank: 90
FARX Sharpe Ratio Rank: 87
FARX Sortino Ratio Rank: 87
FARX Omega Ratio Rank: 90
FARX Calmar Ratio Rank: 94
FARX Martin Ratio Rank: 93

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.

FARX vs. PPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Frontier Asset Absolute Return ETF (FARX) and AXS Astoria Inflation Sensitive ETF (PPI). 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.

	FARX	PPI	Difference
Sharpe ratio: Return per unit of total volatility	2.89	—	—
Sortino ratio: Return per unit of downside risk	3.94	—	—
Omega ratio: Gain probability vs. loss probability	1.58	—	—
Calmar ratio: Return relative to maximum drawdown	7.19	—	—
Martin ratio: Return relative to average drawdown	24.70	—	—
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

	FARX	PPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.89	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.12	-2.74	+4.85

Drawdowns

FARX vs. PPI - Drawdown Comparison

The maximum FARX drawdown since its inception was -5.83%, which is greater than PPI's maximum drawdown of -1.46%. Use the drawdown chart below to compare losses from any high point for FARX and PPI.

Drawdown Indicators

	FARX	PPI	Difference
Max Drawdown Largest peak-to-trough decline	-5.83%	-1.46%	-4.37%
Max Drawdown (1Y) Largest decline over 1 year	-2.80%	—	—
Current Drawdown Current decline from peak	-0.30%	-0.59%	+0.29%
Average Drawdown Average peak-to-trough decline	-1.02%	-0.79%	-0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	—	—

Volatility

Volatility by Period

	FARX	PPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.49%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.96%	13.05%	-6.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.94%	13.05%	-6.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.94%	13.05%	-6.11%

FARX vs. PPI - Expense Ratio Comparison

FARX has a 1.00% expense ratio, which is higher than PPI's 0.76% expense ratio.

Dividends

FARX vs. PPI - Dividend Comparison

FARX's dividend yield for the trailing twelve months is around 2.89%, while PPI has not paid dividends to shareholders.

Position	TTM	2025	2024
FARX Frontier Asset Absolute Return ETF	2.89%	3.25%	0.19%
PPI AXS Astoria Inflation Sensitive ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FARX and PPI in my portfolio?

FARX and PPI have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FARX or PPI?

On fees, PPI is cheaper at 0.76% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FARX or PPI?

PPI is cheaper with a 0.76% expense ratio, compared with 1.00% for FARX.

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

FARX has the higher dividend yield at 2.89%, compared with 0.00% for PPI.

What is the main difference between FARX and PPI?

FARX is categorized as Multistrategy, while PPI is Global Allocation. They also come from different issuers: Frontier and AXS. Their fees differ too: 1.00% for FARX and 0.76% for PPI.