HSAFX vs. OTRFX
HSAFX (Hussman Strategic Allocation Fund) and OTRFX (OnTrack Core Fund) are both Tactical Allocation funds. Over the past 5 years, HSAFX returned 2.88%/yr vs 1.82%/yr for OTRFX. Their 0.15 correlation means their historical movements had little consistent relationship. HSAFX charges 1.25%/yr vs 2.58%/yr for OTRFX.
Performance
HSAFX vs. OTRFX - Performance Comparison
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Returns By Period
In the year-to-date period, HSAFX achieves a 2.00% return, which is significantly lower than OTRFX's 5.14% return.
HSAFX
- 1D
- 0.40%
- 1M
- 2.77%
- 6M
- 2.11%
- YTD
- 2.00%
- 1Y
- 3.76%
- 3Y*
- 4.03%
- 5Y*
- 2.88%
- 10Y*
- —
- ALL TIME*
- 4.95%
OTRFX
- 1D
- 0.04%
- 1M
- 0.10%
- 6M
- 1.15%
- YTD
- 5.14%
- 1Y
- 9.38%
- 3Y*
- 5.90%
- 5Y*
- 1.82%
- 10Y*
- 5.20%
- ALL TIME*
- 4.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
OTRFX OnTrack Core Fund | $0.00 | $0.00 | $0.00 |
HSAFX vs. OTRFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HSAFX Hussman Strategic Allocation Fund | 2.00% | 7.78% | 1.74% | 0.65% | 4.42% | 7.23% | 11.20% | -0.37% |
OTRFX OnTrack Core Fund | 5.14% | 6.12% | -0.12% | 5.37% | -5.82% | 3.94% | 29.03% | 0.44% |
Correlation
The correlation between HSAFX and OTRFX is -0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.07 |
Correlation (3Y) Balances recent behavior with more history. | 0.18 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.15 |
Correlation (All Time) Calculated using the full available price history since Sep 3, 2019 | 0.15 |
The correlation between HSAFX and OTRFX shifts across timeframes, from -0.07 (1 year) to 0.18 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
HSAFX vs. OTRFX — Risk / Return Rank
HSAFX
OTRFX
HSAFX vs. OTRFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hussman Strategic Allocation Fund (HSAFX) and OnTrack Core Fund (OTRFX). 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.
| HSAFX | OTRFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.63 | ||
| Sortino ratioReturn per unit of downside risk | -2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.58 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 3.20 | -2.42 |
| Martin ratioReturn relative to average drawdown | 1.90 | 6.72 | -4.82 |
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Drawdowns
HSAFX vs. OTRFX - Drawdown Comparison
The maximum HSAFX drawdown since its inception was -5.54%, smaller than the maximum OTRFX drawdown of -9.73%. Use the drawdown chart below to compare losses from any high point for HSAFX and OTRFX.
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Drawdown Indicators
| HSAFX | OTRFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.54% | -9.73% | +4.19% |
Max Drawdown (1Y)Largest decline over 1 year | -5.34% | -3.02% | -2.32% |
Max Drawdown (3Y)Largest decline over 3 years | -5.34% | -5.76% | +0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -5.34% | -9.51% | +4.17% |
Max Drawdown (10Y)Largest decline over 10 years | — | -9.51% | — |
Current DrawdownCurrent decline from peak | -0.40% | -1.01% | +0.61% |
Average DrawdownAverage peak-to-trough decline | -1.59% | -2.95% | +1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 1.44% | +0.77% |
Volatility
HSAFX vs. OTRFX - Volatility Comparison
Hussman Strategic Allocation Fund (HSAFX) has a higher volatility of 1.82% compared to OnTrack Core Fund (OTRFX) at 0.48%. This indicates that HSAFX's price experiences larger fluctuations and is considered to be riskier than OTRFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSAFX | OTRFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.82% | 0.48% | +1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 4.39% | 2.29% | +2.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.95% | 4.15% | +1.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.99% | 3.08% | +1.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.19% | 3.56% | +1.63% |
HSAFX vs. OTRFX - Expense Ratio Comparison
HSAFX has a 1.25% expense ratio, which is lower than OTRFX's 2.58% expense ratio.
Dividends
HSAFX vs. OTRFX - Dividend Comparison
HSAFX's dividend yield for the trailing twelve months is around 1.96%, less than OTRFX's 12.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSAFX Hussman Strategic Allocation Fund | 1.96% | 1.90% | 2.15% | 1.60% | 19.12% | 3.37% | 5.55% | 0.03% | 0.00% | 0.00% | 0.00% | 0.00% |
OTRFX OnTrack Core Fund | 12.40% | 13.04% | 8.01% | 0.14% | 1.39% | 7.10% | 2.36% | 1.38% | 7.15% | 2.69% | 7.05% | 6.15% |
Frequently Asked Questions
HSAFX and OTRFX have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HSAFX has higher volatility (1.82%) compared to OTRFX (0.48%). In terms of maximum drawdown, HSAFX dropped -5.54% vs OTRFX's -9.73%.
OTRFX currently has the higher Sharpe Ratio (2.34 vs 0.71), 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.
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