GTAPX vs. TTDAX

Last updated Jun 24, 2026

GTAPX (Quantitative U.S. Long/Short Equity Portfolio) and TTDAX (Toews Tactical Defensive Alpha Fund) are both Long-Short funds. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 1.25% expense ratio.

Performance

GTAPX vs. TTDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Quantitative U.S. Long/Short Equity Portfolio (GTAPX) and Toews Tactical Defensive Alpha Fund (TTDAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GTAPX

• 1D: 0.67%
• 1M: -0.15%
• YTD: 4.89%
• 6M: 4.32%
• 1Y: 14.07%
• 3Y*: 11.22%
• 5Y*: 9.27%
• 10Y*: 5.85%

TTDAX

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

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

GTAPX vs. TTDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GTAPX Quantitative U.S. Long/Short Equity Portfolio	4.89%	12.79%	13.28%	4.42%	3.16%	17.72%	-5.16%	3.26%	-8.65%	8.74%
TTDAX Toews Tactical Defensive Alpha Fund	-5.84%	10.90%	2.87%	7.65%	-16.61%	12.36%	17.14%	22.12%	-7.35%	14.90%

Correlation

The correlation between GTAPX and TTDAX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.58

The correlation between GTAPX and TTDAX shifts across timeframes, from 0.38 (1 year) to 0.58 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GTAPX vs. TTDAX — Risk / Return Rank

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

GTAPX

GTAPX Risk / Return Rank: 73
GTAPX Sharpe Ratio Rank: 62
GTAPX Sortino Ratio Rank: 69
GTAPX Omega Ratio Rank: 54
GTAPX Calmar Ratio Rank: 93
GTAPX Martin Ratio Rank: 86

TTDAX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. TTDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Quantitative U.S. Long/Short Equity Portfolio (GTAPX) and Toews Tactical Defensive Alpha Fund (TTDAX). 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	TTDAX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	—	—
Sortino ratio: Return per unit of downside risk	3.16	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	4.85	—	—
Martin ratio: Return relative to average drawdown	14.86	—	—

Drawdowns

Drawdown Indicators

	GTAPX	TTDAX	Difference
Max Drawdown Largest peak-to-trough decline	-30.40%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.01%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.21%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-12.21%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.40%	—	—
Current Drawdown Current decline from peak	-1.17%	—	—
Average Drawdown Average peak-to-trough decline	-7.02%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	—	—

Volatility

Volatility by Period

	GTAPX	TTDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.19%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.25%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.86%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.88%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.24%	—	—

GTAPX vs. TTDAX - Expense Ratio Comparison

Both GTAPX and TTDAX have an expense ratio of 1.25%.

Dividends

GTAPX vs. TTDAX - Dividend Comparison

GTAPX's dividend yield for the trailing twelve months is around 15.81%, more than TTDAX's 2.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GTAPX Quantitative U.S. Long/Short Equity Portfolio	15.81%	16.63%	11.79%	11.23%	0.00%	0.00%	0.00%	0.96%	0.00%	0.00%
TTDAX Toews Tactical Defensive Alpha Fund	2.20%	2.07%	3.30%	2.56%	1.03%	26.63%	4.08%	7.49%	1.35%	13.58%

Frequently Asked Questions

Can I hold both GTAPX and TTDAX in my portfolio?

GTAPX and TTDAX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.