HIOIX vs. GTAPX

Last updated Jun 4, 2026

HIOIX (Fintrust Income and Opportunity Fund) and GTAPX (Quantitative U.S. Long/Short Equity Portfolio) are both Long-Short funds. Over the past 5 years, HIOIX returned 3.89%/yr vs 8.76%/yr for GTAPX. A 0.53 correlation means they provide meaningful diversification when combined. HIOIX charges 2.19%/yr vs 1.25%/yr for GTAPX.

Performance

HIOIX vs. GTAPX - Performance Comparison

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

Returns By Period

In the year-to-date period, HIOIX achieves a -1.12% return, which is significantly lower than GTAPX's 5.43% return.

HIOIX

• 1D: 0.00%
• 1M: 0.81%
• YTD: -1.12%
• 6M: -1.17%
• 1Y: 7.75%
• 3Y*: 15.09%
• 5Y*: 3.89%
• 10Y*: —

GTAPX

• 1D: 0.00%
• 1M: 0.30%
• YTD: 5.43%
• 6M: 7.29%
• 1Y: 14.91%
• 3Y*: 12.02%
• 5Y*: 8.76%
• 10Y*: 5.77%

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

HIOIX vs. GTAPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HIOIX Fintrust Income and Opportunity Fund	-1.12%	11.55%	24.67%	15.35%	-9.11%	-1.09%	10.63%	13.30%	-6.52%	7.89%
GTAPX Quantitative U.S. Long/Short Equity Portfolio	5.43%	12.79%	13.28%	4.42%	3.16%	17.72%	-5.16%	3.26%	-8.65%	8.29%

Correlation

The correlation between HIOIX and GTAPX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.53

Over the past year, the correlation between HIOIX and GTAPX has dropped to 0.33 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.

Return for Risk

HIOIX vs. GTAPX — Risk / Return Rank

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

HIOIX

HIOIX Risk / Return Rank: 6
HIOIX Sharpe Ratio Rank: 6
HIOIX Sortino Ratio Rank: 6
HIOIX Omega Ratio Rank: 6
HIOIX Calmar Ratio Rank: 7
HIOIX Martin Ratio Rank: 7

GTAPX

GTAPX Risk / Return Rank: 69
GTAPX Sharpe Ratio Rank: 57
GTAPX Sortino Ratio Rank: 61
GTAPX Omega Ratio Rank: 50
GTAPX Calmar Ratio Rank: 92
GTAPX 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.

HIOIX vs. GTAPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fintrust Income and Opportunity Fund (HIOIX) and Quantitative U.S. Long/Short Equity Portfolio (GTAPX). 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.

	HIOIX	GTAPX	Difference
Sharpe ratio Return per unit of total volatility	0.49	2.22	-1.72
Sortino ratio Return per unit of downside risk	0.79	3.29	-2.49
Omega ratio Gain probability vs. loss probability	1.10	1.39	-0.30
Calmar ratio Return relative to maximum drawdown	0.67	5.00	-4.33
Martin ratio Return relative to average drawdown	1.80	15.60	-13.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HIOIX vs. GTAPX - Sharpe Ratio Comparison

The current HIOIX Sharpe Ratio is 0.49, which is lower than the GTAPX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of HIOIX and GTAPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HIOIX	GTAPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.49	2.22	-1.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.81	-0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.40	-0.01

Drawdowns

HIOIX vs. GTAPX - Drawdown Comparison

The maximum HIOIX drawdown since its inception was -30.26%, roughly equal to the maximum GTAPX drawdown of -30.40%. Use the drawdown chart below to compare losses from any high point for HIOIX and GTAPX.

Drawdown Indicators

	HIOIX	GTAPX	Difference
Max Drawdown Largest peak-to-trough decline	-30.26%	-30.40%	+0.14%
Max Drawdown (1Y) Largest decline over 1 year	-12.58%	-3.01%	-9.57%
Max Drawdown (3Y) Largest decline over 3 years	-19.23%	-12.21%	-7.02%
Max Drawdown (5Y) Largest decline over 5 years	-29.03%	-12.21%	-16.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.40%	—
Current Drawdown Current decline from peak	-5.72%	-0.22%	-5.50%
Average Drawdown Average peak-to-trough decline	-7.99%	-7.04%	-0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.64%	0.96%	+3.68%

Volatility

HIOIX vs. GTAPX - Volatility Comparison

Fintrust Income and Opportunity Fund (HIOIX) has a higher volatility of 3.93% compared to Quantitative U.S. Long/Short Equity Portfolio (GTAPX) at 2.05%. This indicates that HIOIX's price experiences larger fluctuations and is considered to be riskier than GTAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIOIX	GTAPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.93%	2.05%	+1.88%
Volatility (6M) Calculated over the trailing 6-month period	12.01%	5.01%	+7.00%
Volatility (1Y) Calculated over the trailing 1-year period	16.99%	6.77%	+10.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.01%	10.89%	+6.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.65%	10.22%	+6.43%

HIOIX vs. GTAPX - Expense Ratio Comparison

HIOIX has a 2.19% expense ratio, which is higher than GTAPX's 1.25% expense ratio.

Dividends

HIOIX vs. GTAPX - Dividend Comparison

HIOIX's dividend yield for the trailing twelve months is around 9.28%, less than GTAPX's 15.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
GTAPX Quantitative U.S. Long/Short Equity Portfolio	15.73%	16.63%	11.79%	11.23%	0.00%	0.00%	0.00%	0.96%	0.00%	0.00%
HIOIX Fintrust Income and Opportunity Fund	9.28%	9.18%	9.65%	0.00%	0.00%	6.08%	5.66%	3.97%	5.35%	11.20%

Frequently Asked Questions

Can I hold both HIOIX and GTAPX in my portfolio?

HIOIX and GTAPX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HIOIX or GTAPX?

HIOIX has higher volatility (3.93%) compared to GTAPX (2.05%). In terms of maximum drawdown, HIOIX dropped -30.26% vs GTAPX's -30.40%.

Which has better risk-adjusted returns?

GTAPX currently has the higher Sharpe Ratio (2.22 vs 0.49), 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.