HFND vs. MAFIX

Last updated Jun 23, 2026

HFND (Unlimited HFND Multi-Strategy Return Tracker ETF) and MAFIX (Abbey Capital Multi Asset Fund Class I) are both Multistrategy funds. Over the past 3 years, HFND returned 10.19%/yr vs 8.89%/yr for MAFIX. A 0.59 correlation means they provide meaningful diversification when combined. HFND charges 1.22%/yr vs 1.79%/yr for MAFIX.

Performance

HFND vs. MAFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) and Abbey Capital Multi Asset Fund Class I (MAFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HFND achieves a 9.58% return, which is significantly lower than MAFIX's 10.70% return.

HFND

• 1D: 0.11%
• 1M: 2.04%
• YTD: 9.58%
• 6M: 9.63%
• 1Y: 19.64%
• 3Y*: 10.19%
• 5Y*: —
• 10Y*: —

MAFIX

• 1D: 1.05%
• 1M: -1.49%
• YTD: 10.70%
• 6M: 10.21%
• 1Y: 31.25%
• 3Y*: 8.89%
• 5Y*: 8.40%
• 10Y*: —

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

HFND vs. MAFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	9.58%	8.93%	8.34%	3.58%	2.28%
MAFIX Abbey Capital Multi Asset Fund Class I	10.70%	8.41%	8.99%	5.02%	-4.46%

Correlation

The correlation between HFND and MAFIX is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (All Time) Calculated using the full available price history since Oct 11, 2022	0.59

The correlation between HFND and MAFIX shifts across timeframes, from 0.56 (3 years) to 0.68 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HFND vs. MAFIX — Risk / Return Rank

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

HFND

HFND Risk / Return Rank: 70
HFND Sharpe Ratio Rank: 63
HFND Sortino Ratio Rank: 64
HFND Omega Ratio Rank: 66
HFND Calmar Ratio Rank: 80
HFND Martin Ratio Rank: 78

MAFIX

MAFIX Risk / Return Rank: 79
MAFIX Sharpe Ratio Rank: 80
MAFIX Sortino Ratio Rank: 72
MAFIX Omega Ratio Rank: 70
MAFIX Calmar Ratio Rank: 89
MAFIX Martin Ratio Rank: 83

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.

HFND vs. MAFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) and Abbey Capital Multi Asset Fund Class I (MAFIX). 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.

	HFND	MAFIX	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.42	-0.39
Sortino ratio: Return per unit of downside risk	2.86	3.23	-0.36
Omega ratio: Gain probability vs. loss probability	1.38	1.42	-0.04
Calmar ratio: Return relative to maximum drawdown	3.99	4.24	-0.25
Martin ratio: Return relative to average drawdown	14.60	14.38	+0.23

HFND vs. MAFIX - Sharpe Ratio Comparison

The current HFND Sharpe Ratio is 2.03, which is comparable to the MAFIX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of HFND and MAFIX, 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

HFND vs. MAFIX - Drawdown Comparison

The maximum HFND drawdown since its inception was -13.31%, smaller than the maximum MAFIX drawdown of -19.21%. Use the drawdown chart below to compare losses from any high point for HFND and MAFIX.

Drawdown Indicators

	HFND	MAFIX	Difference
Max Drawdown Largest peak-to-trough decline	-13.31%	-19.21%	+5.90%
Max Drawdown (1Y) Largest decline over 1 year	-4.94%	-7.26%	+2.32%
Max Drawdown (3Y) Largest decline over 3 years	-13.31%	-19.21%	+5.90%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.21%	—
Current Drawdown Current decline from peak	0.00%	-2.49%	+2.49%
Average Drawdown Average peak-to-trough decline	-2.08%	-3.41%	+1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.35%	2.14%	-0.79%

Volatility

HFND vs. MAFIX - Volatility Comparison

The current volatility for Unlimited HFND Multi-Strategy Return Tracker ETF (HFND) is 3.06%, while Abbey Capital Multi Asset Fund Class I (MAFIX) has a volatility of 3.81%. This indicates that HFND experiences smaller price fluctuations and is considered to be less risky than MAFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFND	MAFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	3.81%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	8.00%	9.35%	-1.35%
Volatility (1Y) Calculated over the trailing 1-year period	9.75%	12.72%	-2.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.51%	12.35%	-2.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.51%	12.86%	-3.35%

HFND vs. MAFIX - Expense Ratio Comparison

HFND has a 1.22% expense ratio, which is lower than MAFIX's 1.79% expense ratio.

Dividends

HFND vs. MAFIX - Dividend Comparison

HFND's dividend yield for the trailing twelve months is around 4.64%, less than MAFIX's 10.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HFND Unlimited HFND Multi-Strategy Return Tracker ETF	4.64%	5.08%	3.70%	1.41%	0.43%	0.00%	0.00%	0.00%	0.00%
MAFIX Abbey Capital Multi Asset Fund Class I	10.64%	11.78%	4.57%	3.80%	4.12%	10.65%	10.29%	12.30%	9.36%

Frequently Asked Questions

Can I hold both HFND and MAFIX in my portfolio?

HFND and MAFIX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HFND or MAFIX?

MAFIX has higher volatility (3.81%) compared to HFND (3.06%). In terms of maximum drawdown, HFND dropped -13.31% vs MAFIX's -19.21%.

Which has better risk-adjusted returns?

MAFIX currently has the higher Sharpe Ratio (2.42 vs 2.03), 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.