HFSAX vs. UPAAX

Last updated Jun 25, 2026

HFSAX (Hundredfold Select Alternative Fund Investor Class) and UPAAX (Upright Assets Allocation Plus Fund) are both Tactical Allocation funds. Their correlation of 0.91 suggests significant overlap in exposure. HFSAX charges 1.75%/yr vs 2.49%/yr for UPAAX.

Performance

HFSAX vs. UPAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hundredfold Select Alternative Fund Investor Class (HFSAX) and Upright Assets Allocation Plus Fund (UPAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HFSAX

• 1D: -0.69%
• 1M: -0.41%
• YTD: 1.12%
• 6M: 0.61%
• 1Y: 8.62%
• 3Y*: 9.53%
• 5Y*: 3.10%
• 10Y*: 8.35%

UPAAX

• 1D: -2.90%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HFSAX vs. UPAAX - Yearly Performance Comparison

	2026 (YTD)
HFSAX Hundredfold Select Alternative Fund Investor Class	-0.53%
UPAAX Upright Assets Allocation Plus Fund	-4.94%

Correlation

The correlation between HFSAX and UPAAX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.91

Return for Risk

HFSAX vs. UPAAX — 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: 52
HFSAX Sortino Ratio Rank: 45
HFSAX Omega Ratio Rank: 58
HFSAX Calmar Ratio Rank: 49
HFSAX Martin Ratio Rank: 33

UPAAX

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.

HFSAX vs. UPAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hundredfold Select Alternative Fund Investor Class (HFSAX) and Upright Assets Allocation Plus Fund (UPAAX). 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	UPAAX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	—	—
Sortino ratio: Return per unit of downside risk	2.53	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	2.51	—	—
Martin ratio: Return relative to average drawdown	6.81	—	—

Drawdowns

HFSAX vs. UPAAX - Drawdown Comparison

The maximum HFSAX drawdown since its inception was -12.81%, which is greater than UPAAX's maximum drawdown of -10.95%. Use the drawdown chart below to compare losses from any high point for HFSAX and UPAAX.

Drawdown Indicators

	HFSAX	UPAAX	Difference
Max Drawdown Largest peak-to-trough decline	-12.81%	-10.95%	-1.86%
Max Drawdown (1Y) Largest decline over 1 year	-3.68%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.67%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-12.16%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-12.81%	—	—
Current Drawdown Current decline from peak	-1.70%	-8.49%	+6.79%
Average Drawdown Average peak-to-trough decline	-2.38%	-5.21%	+2.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.35%	—	—

Volatility

Volatility by Period

	HFSAX	UPAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.87%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.90%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.79%	35.86%	-31.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.22%	35.86%	-29.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.24%	35.86%	-29.62%

HFSAX vs. UPAAX - Expense Ratio Comparison

HFSAX has a 1.75% expense ratio, which is lower than UPAAX's 2.49% expense ratio.

Dividends

HFSAX vs. UPAAX - Dividend Comparison

HFSAX's dividend yield for the trailing twelve months is around 9.64%, while UPAAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HFSAX Hundredfold Select Alternative Fund Investor Class	9.64%	9.75%	5.87%	5.17%	4.92%	10.98%	13.58%	6.44%	3.11%	11.06%	5.60%	1.85%
UPAAX Upright Assets Allocation Plus Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HFSAX and UPAAX in my portfolio?

With a correlation of 0.91, HFSAX and UPAAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.