FORH vs. CTEF

Last updated Jun 4, 2026

FORH (Formidable ETF) and CTEF (Castellan Targeted Equity ETF) are both Mid Cap Blend Equities funds. Both are actively managed. At a 0.48 correlation, their price movements are largely independent. FORH charges 1.19%/yr vs 0.45%/yr for CTEF.

Performance

FORH vs. CTEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Formidable ETF (FORH) and Castellan Targeted Equity ETF (CTEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FORH achieves a 4.39% return, which is significantly lower than CTEF's 29.35% return.

FORH

• 1D: -1.48%
• 1M: -1.56%
• YTD: 4.39%
• 6M: 1.81%
• 1Y: 12.85%
• 3Y*: 4.31%
• 5Y*: 1.34%
• 10Y*: —

CTEF

• 1D: -0.41%
• 1M: 10.65%
• YTD: 29.35%
• 6M: 31.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FORH vs. CTEF - Yearly Performance Comparison

	2026 (YTD)	2025
FORH Formidable ETF	4.39%	8.27%
CTEF Castellan Targeted Equity ETF	29.35%	33.22%

Correlation

The correlation between FORH and CTEF is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 20, 2025	0.48

Return for Risk

FORH vs. CTEF — Risk / Return Rank

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

FORH

FORH Risk / Return Rank: 22
FORH Sharpe Ratio Rank: 24
FORH Sortino Ratio Rank: 23
FORH Omega Ratio Rank: 23
FORH Calmar Ratio Rank: 23
FORH Martin Ratio Rank: 18

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.

FORH vs. CTEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Formidable ETF (FORH) and Castellan Targeted Equity ETF (CTEF). 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.

	FORH	CTEF	Difference
Sharpe ratio: Return per unit of total volatility	0.82	—	—
Sortino ratio: Return per unit of downside risk	1.21	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	1.01	—	—
Martin ratio: Return relative to average drawdown	2.00	—	—
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

	FORH	CTEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.82	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	3.54	-3.40

Drawdowns

FORH vs. CTEF - Drawdown Comparison

The maximum FORH drawdown since its inception was -20.73%, which is greater than CTEF's maximum drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for FORH and CTEF.

Drawdown Indicators

	FORH	CTEF	Difference
Max Drawdown Largest peak-to-trough decline	-20.73%	-15.00%	-5.73%
Max Drawdown (1Y) Largest decline over 1 year	-12.80%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.73%	—	—
Current Drawdown Current decline from peak	-6.77%	-0.41%	-6.36%
Average Drawdown Average peak-to-trough decline	-7.98%	-1.80%	-6.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.43%	—	—

Volatility

Volatility by Period

	FORH	CTEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.10%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.78%	21.81%	-6.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.02%	21.81%	-5.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.03%	21.81%	-5.78%

FORH vs. CTEF - Expense Ratio Comparison

FORH has a 1.19% expense ratio, which is higher than CTEF's 0.45% expense ratio.

Dividends

FORH vs. CTEF - Dividend Comparison

FORH's dividend yield for the trailing twelve months is around 1.75%, more than CTEF's 0.06% yield.

Position	TTM	2025	2024	2023	2022	2021
CTEF Castellan Targeted Equity ETF	0.06%	0.08%	0.00%	0.00%	0.00%	0.00%
FORH Formidable ETF	1.75%	1.82%	0.00%	3.88%	3.72%	0.69%

Frequently Asked Questions

Can I hold both FORH and CTEF in my portfolio?

FORH and CTEF have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FORH or CTEF?

On fees, CTEF is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FORH or CTEF?

CTEF is cheaper with a 0.45% expense ratio, compared with 1.19% for FORH.

Which ETF pays a higher dividend yield, FORH or CTEF?

FORH has the higher dividend yield at 1.75%, compared with 0.06% for CTEF.

What is the main difference between FORH and CTEF?

They also come from different issuers: Formidable and Castellan. Their fees differ too: 1.19% for FORH and 0.45% for CTEF.