HFSAX vs. FIJEX

Last updated Jul 21, 2026

HFSAX (Hundredfold Select Alternative Fund Investor Class) and FIJEX (Frost Total Return Bond Fund) are both mutual funds - HFSAX is a Tactical Allocation fund managed by Advisors Preferred, while FIJEX is a Short-Term Bond fund managed by Frost Funds. Over the past 10 years, HFSAX returned 8.16%/yr vs 3.39%/yr for FIJEX. At a 0.16 correlation, their price movements are largely independent. HFSAX charges 1.75%/yr vs 0.46%/yr for FIJEX.

Performance

HFSAX vs. FIJEX - Performance Comparison

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

Returns By Period

In the year-to-date period, HFSAX achieves a 0.54% return, which is significantly lower than FIJEX's 1.10% return. Over the past 10 years, HFSAX has outperformed FIJEX with an annualized return of 8.16%, while FIJEX has yielded a comparatively lower 3.39% annualized return.

HFSAX

• 1D: -0.08%
• 1M: -1.15%
• 6M: -0.17%
• YTD: 0.54%
• 1Y: 7.56%
• 3Y*: 8.20%
• 5Y*: 3.40%
• 10Y*: 8.16%
• ALL TIME*: 7.18%

FIJEX

• 1D: 0.00%
• 1M: -0.17%
• 6M: 0.78%
• YTD: 1.10%
• 1Y: 4.44%
• 3Y*: 5.75%
• 5Y*: 3.16%
• 10Y*: 3.39%
• ALL TIME*: 3.38%

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

HFSAX vs. FIJEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HFSAX Hundredfold Select Alternative Fund Investor Class	0.54%	11.97%	3.75%	10.93%	-9.44%	9.05%	38.71%	10.35%	-1.97%	9.91%
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%

Correlation

The correlation between HFSAX and FIJEX 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, HFSAX and FIJEX have become more correlated (0.40) than their long-term average of 0.16, meaning their price movements have been converging.

Return for Risk

HFSAX vs. FIJEX — Risk / Return Rank

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

HFSAX

HFSAX Risk / Return Rank: 47
HFSAX Sharpe Ratio Rank: 55
HFSAX Sortino Ratio Rank: 46
HFSAX Omega Ratio Rank: 61
HFSAX Calmar Ratio Rank: 46
HFSAX Martin Ratio Rank: 30

FIJEX

FIJEX Risk / Return Rank: 42
FIJEX Sharpe Ratio Rank: 44
FIJEX Sortino Ratio Rank: 46
FIJEX Omega Ratio Rank: 42
FIJEX Calmar Ratio Rank: 44
FIJEX Martin Ratio Rank: 33

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.

HFSAX vs. FIJEX - Risk-Adjusted Trends Comparison

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

	HFSAX	FIJEX	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.48	+0.17
Sortino ratio: Return per unit of downside risk	2.17	2.17	0.00
Omega ratio: Gain probability vs. loss probability	1.32	1.27	+0.06
Calmar ratio: Return relative to maximum drawdown	2.12	2.04	+0.08
Martin ratio: Return relative to average drawdown	5.41	5.98	-0.58

HFSAX vs. FIJEX - Sharpe Ratio Comparison

The current HFSAX Sharpe Ratio is 1.66, which is comparable to the FIJEX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of HFSAX and FIJEX, 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

HFSAX vs. FIJEX - Drawdown Comparison

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

Drawdown Indicators

	HFSAX	FIJEX	Difference
Max Drawdown Largest peak-to-trough decline	-12.81%	-16.82%	+4.01%
Max Drawdown (1Y) Largest decline over 1 year	-3.68%	-2.25%	-1.43%
Max Drawdown (3Y) Largest decline over 3 years	-5.67%	-3.40%	-2.27%
Max Drawdown (5Y) Largest decline over 5 years	-12.13%	-7.52%	-4.61%
Max Drawdown (10Y) Largest decline over 10 years	-12.81%	-11.60%	-1.21%
Current Drawdown Current decline from peak	-2.26%	-0.79%	-1.47%
Average Drawdown Average peak-to-trough decline	-2.38%	-2.85%	+0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	0.76%	+0.68%

Volatility

HFSAX vs. FIJEX - Volatility Comparison

Hundredfold Select Alternative Fund Investor Class (HFSAX) has a higher volatility of 1.10% compared to Frost Total Return Bond Fund (FIJEX) at 0.95%. This indicates that HFSAX's price experiences larger fluctuations and is considered to be riskier than FIJEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HFSAX	FIJEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	0.95%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	3.75%	2.42%	+1.33%
Volatility (1Y) Calculated over the trailing 1-year period	4.70%	3.09%	+1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.21%	3.73%	+2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.23%	3.24%	+2.99%

HFSAX vs. FIJEX - Expense Ratio Comparison

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

Dividends

HFSAX vs. FIJEX - Dividend Comparison

HFSAX's dividend yield for the trailing twelve months is around 9.70%, more than FIJEX's 5.81% 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	9.70%	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 HFSAX and FIJEX in my portfolio?

HFSAX and FIJEX 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, HFSAX or FIJEX?

HFSAX has higher volatility (1.10%) compared to FIJEX (0.95%). In terms of maximum drawdown, HFSAX dropped -12.81% vs FIJEX's -16.82%.

Which has better risk-adjusted returns?

HFSAX currently has the higher Sharpe Ratio (1.66 vs 1.48), 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.