GTAPX vs. ATESX

Last updated Jun 23, 2026

GTAPX (Quantitative U.S. Long/Short Equity Portfolio) and ATESX (Anchor Risk Managed Equity Strategies Fund) are both Long-Short funds. Over the past 5 years, GTAPX returned 9.23%/yr vs 5.55%/yr for ATESX. At a 0.27 correlation, their price movements are largely independent. GTAPX charges 1.25%/yr vs 2.10%/yr for ATESX.

Performance

GTAPX vs. ATESX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Quantitative U.S. Long/Short Equity Portfolio (GTAPX) and Anchor Risk Managed Equity Strategies Fund (ATESX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GTAPX achieves a 4.19% return, which is significantly lower than ATESX's 8.58% return.

GTAPX

• 1D: -0.67%
• 1M: -0.82%
• YTD: 4.19%
• 6M: 3.55%
• 1Y: 13.63%
• 3Y*: 10.84%
• 5Y*: 9.23%
• 10Y*: 5.74%

ATESX

• 1D: 1.95%
• 1M: -0.48%
• YTD: 8.58%
• 6M: 7.81%
• 1Y: 15.33%
• 3Y*: 7.47%
• 5Y*: 5.55%
• 10Y*: —

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

GTAPX vs. ATESX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GTAPX Quantitative U.S. Long/Short Equity Portfolio	4.19%	12.79%	13.28%	4.42%	3.16%	17.72%	-5.16%	3.26%	-8.65%	8.74%
ATESX Anchor Risk Managed Equity Strategies Fund	8.58%	5.56%	7.21%	8.12%	-9.25%	11.06%	18.02%	20.31%	3.72%	16.12%

Correlation

The correlation between GTAPX and ATESX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.27

Return for Risk

GTAPX vs. ATESX — Risk / Return Rank

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

GTAPX

GTAPX Risk / Return Rank: 65
GTAPX Sharpe Ratio Rank: 52
GTAPX Sortino Ratio Rank: 58
GTAPX Omega Ratio Rank: 46
GTAPX Calmar Ratio Rank: 91
GTAPX Martin Ratio Rank: 78

ATESX

ATESX Risk / Return Rank: 22
ATESX Sharpe Ratio Rank: 24
ATESX Sortino Ratio Rank: 20
ATESX Omega Ratio Rank: 28
ATESX Calmar Ratio Rank: 25
ATESX Martin Ratio Rank: 12

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.

GTAPX vs. ATESX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Quantitative U.S. Long/Short Equity Portfolio (GTAPX) and Anchor Risk Managed Equity Strategies Fund (ATESX). 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.

	GTAPX	ATESX	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.31	+0.65
Sortino ratio: Return per unit of downside risk	2.91	1.74	+1.17
Omega ratio: Gain probability vs. loss probability	1.34	1.26	+0.08
Calmar ratio: Return relative to maximum drawdown	4.46	1.72	+2.74
Martin ratio: Return relative to average drawdown	13.68	3.29	+10.39

GTAPX vs. ATESX - Sharpe Ratio Comparison

The current GTAPX Sharpe Ratio is 1.96, which is higher than the ATESX Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of GTAPX and ATESX, 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

GTAPX vs. ATESX - Drawdown Comparison

The maximum GTAPX drawdown since its inception was -30.40%, which is greater than ATESX's maximum drawdown of -12.87%. Use the drawdown chart below to compare losses from any high point for GTAPX and ATESX.

Drawdown Indicators

	GTAPX	ATESX	Difference
Max Drawdown Largest peak-to-trough decline	-30.40%	-12.87%	-17.53%
Max Drawdown (1Y) Largest decline over 1 year	-3.01%	-8.92%	+5.91%
Max Drawdown (3Y) Largest decline over 3 years	-12.21%	-10.73%	-1.48%
Max Drawdown (5Y) Largest decline over 5 years	-12.21%	-12.87%	+0.66%
Max Drawdown (10Y) Largest decline over 10 years	-30.40%	—	—
Current Drawdown Current decline from peak	-1.84%	-3.47%	+1.63%
Average Drawdown Average peak-to-trough decline	-7.02%	-3.69%	-3.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	4.65%	-3.68%

Volatility

GTAPX vs. ATESX - Volatility Comparison

The current volatility for Quantitative U.S. Long/Short Equity Portfolio (GTAPX) is 2.13%, while Anchor Risk Managed Equity Strategies Fund (ATESX) has a volatility of 6.17%. This indicates that GTAPX experiences smaller price fluctuations and is considered to be less risky than ATESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GTAPX	ATESX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.13%	6.17%	-4.04%
Volatility (6M) Calculated over the trailing 6-month period	5.21%	8.64%	-3.43%
Volatility (1Y) Calculated over the trailing 1-year period	6.84%	11.70%	-4.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.87%	10.67%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.23%	11.09%	-0.86%

GTAPX vs. ATESX - Expense Ratio Comparison

GTAPX has a 1.25% expense ratio, which is lower than ATESX's 2.10% expense ratio.

Dividends

GTAPX vs. ATESX - Dividend Comparison

GTAPX's dividend yield for the trailing twelve months is around 15.92%, while ATESX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ATESX Anchor Risk Managed Equity Strategies Fund	0.00%	0.00%	0.00%	1.30%	7.45%	0.00%	0.00%	11.78%	7.70%	6.02%
GTAPX Quantitative U.S. Long/Short Equity Portfolio	15.92%	16.63%	11.79%	11.23%	0.00%	0.00%	0.00%	0.96%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GTAPX and ATESX in my portfolio?

GTAPX and ATESX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GTAPX or ATESX?

ATESX has higher volatility (6.17%) compared to GTAPX (2.13%). In terms of maximum drawdown, GTAPX dropped -30.40% vs ATESX's -12.87%.

Which has better risk-adjusted returns?

GTAPX currently has the higher Sharpe Ratio (1.96 vs 1.31), 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.