FIJEX vs. HFSAX

Last updated Jul 17, 2026

FIJEX (Frost Total Return Bond Fund) and HFSAX (Hundredfold Select Alternative Fund Investor Class) are both mutual funds - FIJEX is a Short-Term Bond fund managed by Frost Funds, while HFSAX is a Tactical Allocation fund managed by Advisors Preferred. Over the past 10 years, FIJEX returned 3.40%/yr vs 8.19%/yr for HFSAX. At a 0.16 correlation, their price movements are largely independent. FIJEX charges 0.46%/yr vs 1.75%/yr for HFSAX.

Performance

FIJEX vs. HFSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Frost Total Return Bond Fund (FIJEX) and Hundredfold Select Alternative Fund Investor Class (HFSAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIJEX achieves a 1.10% return, which is significantly higher than HFSAX's 0.79% return. Over the past 10 years, FIJEX has underperformed HFSAX with an annualized return of 3.40%, while HFSAX has yielded a comparatively higher 8.19% annualized return.

FIJEX

• 1D: 0.21%
• 1M: -0.38%
• 6M: 0.58%
• YTD: 1.10%
• 1Y: 4.55%
• 3Y*: 5.79%
• 5Y*: 3.16%
• 10Y*: 3.40%

HFSAX

• 1D: 0.04%
• 1M: -0.82%
• 6M: -0.33%
• YTD: 0.79%
• 1Y: 8.09%
• 3Y*: 8.63%
• 5Y*: 3.45%
• 10Y*: 8.19%

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

FIJEX vs. HFSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIJEX Frost Total Return Bond Fund	1.10%	4.83%	6.44%	8.64%	-5.30%	3.45%	3.49%	5.38%	1.38%	4.43%
HFSAX Hundredfold Select Alternative Fund Investor Class	0.79%	11.97%	3.75%	10.93%	-9.44%	9.05%	38.71%	10.35%	-1.97%	9.91%

Correlation

The correlation between FIJEX and HFSAX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.16

Over the past year, FIJEX and HFSAX have become more correlated (0.40) than their long-term average of 0.16, meaning their price movements have been converging.

Return for Risk

FIJEX vs. HFSAX — Risk / Return Rank

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

FIJEX

FIJEX Risk / Return Rank: 42
FIJEX Sharpe Ratio Rank: 44
FIJEX Sortino Ratio Rank: 47
FIJEX Omega Ratio Rank: 42
FIJEX Calmar Ratio Rank: 44
FIJEX Martin Ratio Rank: 34

HFSAX

HFSAX Risk / Return Rank: 52
HFSAX Sharpe Ratio Rank: 61
HFSAX Sortino Ratio Rank: 51
HFSAX Omega Ratio Rank: 67
HFSAX Calmar Ratio Rank: 51
HFSAX Martin Ratio Rank: 32

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.

FIJEX vs. HFSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Frost Total Return Bond Fund (FIJEX) and Hundredfold Select Alternative Fund Investor Class (HFSAX). 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.

	FIJEX	HFSAX	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.75	-0.23
Sortino ratio: Return per unit of downside risk	2.22	2.28	-0.06
Omega ratio: Gain probability vs. loss probability	1.27	1.34	-0.07
Calmar ratio: Return relative to maximum drawdown	2.09	2.23	-0.14
Martin ratio: Return relative to average drawdown	6.15	5.74	+0.41

FIJEX vs. HFSAX - Sharpe Ratio Comparison

The current FIJEX Sharpe Ratio is 1.52, which is comparable to the HFSAX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of FIJEX and HFSAX, 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

FIJEX vs. HFSAX - Drawdown Comparison

The maximum FIJEX drawdown since its inception was -16.82%, which is greater than HFSAX's maximum drawdown of -12.81%. Use the drawdown chart below to compare losses from any high point for FIJEX and HFSAX.

Drawdown Indicators

	FIJEX	HFSAX	Difference
Max Drawdown Largest peak-to-trough decline	-16.82%	-12.81%	-4.01%
Max Drawdown (1Y) Largest decline over 1 year	-2.25%	-3.68%	+1.43%
Max Drawdown (3Y) Largest decline over 3 years	-3.40%	-5.67%	+2.27%
Max Drawdown (5Y) Largest decline over 5 years	-7.52%	-12.13%	+4.61%
Max Drawdown (10Y) Largest decline over 10 years	-11.60%	-12.81%	+1.21%
Current Drawdown Current decline from peak	-0.79%	-2.02%	+1.23%
Average Drawdown Average peak-to-trough decline	-2.85%	-2.38%	-0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	1.42%	-0.66%

Volatility

FIJEX vs. HFSAX - Volatility Comparison

The current volatility for Frost Total Return Bond Fund (FIJEX) is 0.98%, while Hundredfold Select Alternative Fund Investor Class (HFSAX) has a volatility of 1.23%. This indicates that FIJEX experiences smaller price fluctuations and is considered to be less risky than HFSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIJEX	HFSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.98%	1.23%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	2.42%	3.75%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	3.10%	4.73%	-1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.73%	6.21%	-2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.24%	6.23%	-2.99%

FIJEX vs. HFSAX - Expense Ratio Comparison

FIJEX has a 0.46% expense ratio, which is lower than HFSAX's 1.75% expense ratio.

Dividends

FIJEX vs. HFSAX - Dividend Comparison

FIJEX's dividend yield for the trailing twelve months is around 5.81%, less than HFSAX's 9.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIJEX Frost Total Return Bond Fund	5.81%	4.64%	5.23%	5.53%	4.69%	3.31%	3.82%	3.79%	3.63%	3.68%	4.03%	4.14%
HFSAX Hundredfold Select Alternative Fund Investor Class	9.67%	9.75%	5.87%	5.17%	4.92%	10.98%	13.58%	6.44%	3.11%	11.06%	5.60%	1.85%

Frequently Asked Questions

Can I hold both FIJEX and HFSAX in my portfolio?

FIJEX and HFSAX 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 is riskier, FIJEX or HFSAX?

HFSAX has higher volatility (1.23%) compared to FIJEX (0.98%). In terms of maximum drawdown, FIJEX dropped -16.82% vs HFSAX's -12.81%.

Which has better risk-adjusted returns?

HFSAX currently has the higher Sharpe Ratio (1.75 vs 1.52), 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.