FDLS vs. CPAI

Last updated Jun 4, 2026

FDLS (Inspire Fidelis Multi Factor ETF) and CPAI (Counterpoint Quantitative Equity ETF) are both Mid Cap Blend Equities funds. FDLS is passively managed, while CPAI is actively managed. Over the past year, FDLS returned 33.04% vs 45.47% for CPAI. Their correlation of 0.84 suggests significant overlap in exposure. FDLS charges 0.76%/yr vs 0.75%/yr for CPAI.

Performance

FDLS vs. CPAI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Inspire Fidelis Multi Factor ETF (FDLS) and Counterpoint Quantitative Equity ETF (CPAI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDLS achieves a 13.12% return, which is significantly lower than CPAI's 27.41% return.

FDLS

• 1D: -1.15%
• 1M: -0.93%
• YTD: 13.12%
• 6M: 13.26%
• 1Y: 33.04%
• 3Y*: 19.65%
• 5Y*: —
• 10Y*: —

CPAI

• 1D: -1.84%
• 1M: 8.24%
• YTD: 27.41%
• 6M: 29.49%
• 1Y: 45.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FDLS vs. CPAI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FDLS Inspire Fidelis Multi Factor ETF	13.12%	22.47%	7.41%	8.87%
CPAI Counterpoint Quantitative Equity ETF	27.41%	17.79%	28.37%	6.69%

Correlation

The correlation between FDLS and CPAI is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023	0.84

The correlation between FDLS and CPAI has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

FDLS vs. CPAI - Sectors Allocation Comparison

Sectors	FDLS	CPAI
Technology	25.7%	45.4%
Industrials	18.8%	5.7%
Financial Services	14.3%	4.3%
Healthcare	11.7%	16.0%
Energy	7.1%	3.7%
Basic Materials	5.0%	3.3%
Consumer Defensive	4.9%	9.5%
Consumer Cyclical	4.4%	4.2%
Communication Services	3.3%	7.9%
Real Estate	2.1%	-
Utilities	1.7%	-

Return for Risk

FDLS vs. CPAI — Risk / Return Rank

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

FDLS

FDLS Risk / Return Rank: 64
FDLS Sharpe Ratio Rank: 59
FDLS Sortino Ratio Rank: 60
FDLS Omega Ratio Rank: 57
FDLS Calmar Ratio Rank: 70
FDLS Martin Ratio Rank: 74

CPAI

CPAI Risk / Return Rank: 77
CPAI Sharpe Ratio Rank: 78
CPAI Sortino Ratio Rank: 73
CPAI Omega Ratio Rank: 71
CPAI Calmar Ratio Rank: 82
CPAI Martin Ratio Rank: 81

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.

FDLS vs. CPAI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Inspire Fidelis Multi Factor ETF (FDLS) and Counterpoint Quantitative Equity ETF (CPAI). 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.

	FDLS	CPAI	Difference
Sharpe ratio: Return per unit of total volatility	1.99	2.52	-0.53
Sortino ratio: Return per unit of downside risk	2.82	3.33	-0.50
Omega ratio: Gain probability vs. loss probability	1.35	1.43	-0.08
Calmar ratio: Return relative to maximum drawdown	3.48	4.36	-0.88
Martin ratio: Return relative to average drawdown	13.96	15.90	-1.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDLS vs. CPAI - Sharpe Ratio Comparison

The current FDLS Sharpe Ratio is 1.99, which is comparable to the CPAI Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of FDLS and CPAI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FDLS	CPAI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	2.52	-0.53
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	1.78	-0.92

Drawdowns

FDLS vs. CPAI - Drawdown Comparison

The maximum FDLS drawdown since its inception was -23.32%, which is greater than CPAI's maximum drawdown of -21.46%. Use the drawdown chart below to compare losses from any high point for FDLS and CPAI.

Drawdown Indicators

	FDLS	CPAI	Difference
Max Drawdown Largest peak-to-trough decline	-23.32%	-21.46%	-1.86%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-10.48%	+0.93%
Max Drawdown (3Y) Largest decline over 3 years	-23.32%	—	—
Current Drawdown Current decline from peak	-2.66%	-1.84%	-0.82%
Average Drawdown Average peak-to-trough decline	-3.88%	-2.97%	-0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	2.87%	-0.50%

Volatility

FDLS vs. CPAI - Volatility Comparison

The current volatility for Inspire Fidelis Multi Factor ETF (FDLS) is 4.36%, while Counterpoint Quantitative Equity ETF (CPAI) has a volatility of 5.35%. This indicates that FDLS experiences smaller price fluctuations and is considered to be less risky than CPAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDLS	CPAI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	5.35%	-0.99%
Volatility (6M) Calculated over the trailing 6-month period	12.45%	14.50%	-2.05%
Volatility (1Y) Calculated over the trailing 1-year period	16.71%	18.14%	-1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.07%	19.19%	-0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.07%	19.19%	-0.12%

FDLS vs. CPAI - Expense Ratio Comparison

FDLS has a 0.76% expense ratio, which is higher than CPAI's 0.75% expense ratio.

Dividends

FDLS vs. CPAI - Dividend Comparison

FDLS's dividend yield for the trailing twelve months is around 0.87%, more than CPAI's 0.70% yield.

Position	TTM	2025	2024	2023	2022
CPAI Counterpoint Quantitative Equity ETF	0.70%	0.89%	0.41%	0.06%	0.00%
FDLS Inspire Fidelis Multi Factor ETF	0.87%	0.86%	7.26%	0.97%	0.31%

Frequently Asked Questions

Can I hold both FDLS and CPAI in my portfolio?

FDLS and CPAI have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDLS or CPAI?

CPAI has higher volatility (5.35%) compared to FDLS (4.36%). In terms of maximum drawdown, FDLS dropped -23.32% vs CPAI's -21.46%.

Which ETF is better, FDLS or CPAI?

On 1-year performance, CPAI leads with 45.47% vs 33.04% for FDLS. On fees, CPAI is cheaper at 0.75% per year. On volatility, FDLS has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDLS or CPAI?

Over the 1-year period, CPAI has performed better with a 45.47% return vs 33.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDLS or CPAI?

CPAI is cheaper with a 0.75% expense ratio, compared with 0.76% for FDLS.

Which ETF pays a higher dividend yield, FDLS or CPAI?

FDLS has the higher dividend yield at 0.87%, compared with 0.70% for CPAI.

What is the main difference between FDLS and CPAI?

They also come from different issuers: Inspire and Counterpoint Funds. Their fees differ too: 0.76% for FDLS and 0.75% for CPAI.

Which has better risk-adjusted returns?

CPAI currently has the higher Sharpe Ratio (2.52 vs 1.99), 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.