HSTRX vs. SAPEX
Compare and contrast key facts about Hussman Strategic Total Return Fund (HSTRX) and Spectrum Active Advantage Fund (SAPEX).
HSTRX is managed by Hussman Funds. It was launched on Sep 11, 2002. SAPEX is managed by Advisors Preferred. It was launched on May 31, 2015.
Performance
HSTRX vs. SAPEX - Performance Comparison
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HSTRX vs. SAPEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HSTRX Hussman Strategic Total Return Fund | 3.20% | 20.33% | 6.06% | 6.04% | -6.23% | 1.21% | 11.45% | 11.42% | 1.48% | 1.21% |
SAPEX Spectrum Active Advantage Fund | -5.79% | 15.25% | 5.25% | 12.11% | -38.08% | 17.15% | 13.72% | 27.65% | -4.44% | 15.05% |
Returns By Period
In the year-to-date period, HSTRX achieves a 3.20% return, which is significantly higher than SAPEX's -5.79% return. Over the past 10 years, HSTRX has outperformed SAPEX with an annualized return of 5.53%, while SAPEX has yielded a comparatively lower 4.59% annualized return.
HSTRX
- 1D
- 0.40%
- 1M
- -1.97%
- YTD
- 3.20%
- 6M
- 5.15%
- 1Y
- 17.13%
- 3Y*
- 10.52%
- 5Y*
- 6.20%
- 10Y*
- 5.53%
SAPEX
- 1D
- -0.16%
- 1M
- -5.88%
- YTD
- -5.79%
- 6M
- -2.64%
- 1Y
- 10.17%
- 3Y*
- 8.47%
- 5Y*
- -1.99%
- 10Y*
- 4.59%
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HSTRX vs. SAPEX - Expense Ratio Comparison
HSTRX has a 0.75% expense ratio, which is lower than SAPEX's 1.69% expense ratio.
Return for Risk
HSTRX vs. SAPEX — Risk / Return Rank
HSTRX
SAPEX
HSTRX vs. SAPEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Hussman Strategic Total Return Fund (HSTRX) and Spectrum Active Advantage Fund (SAPEX). 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.
| HSTRX | SAPEX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.55 | 0.99 | +1.56 |
Sortino ratioReturn per unit of downside risk | 3.54 | 1.38 | +2.16 |
Omega ratioGain probability vs. loss probability | 1.52 | 1.19 | +0.33 |
Calmar ratioReturn relative to maximum drawdown | 5.41 | 1.24 | +4.18 |
Martin ratioReturn relative to average drawdown | 19.66 | 4.20 | +15.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HSTRX | SAPEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.55 | 0.99 | +1.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | -0.14 | +1.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.93 | 0.28 | +0.66 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.86 | 0.29 | +0.57 |
Correlation
The correlation between HSTRX and SAPEX is 0.16, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
HSTRX vs. SAPEX - Dividend Comparison
HSTRX's dividend yield for the trailing twelve months is around 1.98%, less than SAPEX's 5.07% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSTRX Hussman Strategic Total Return Fund | 1.98% | 2.25% | 2.91% | 2.54% | 2.15% | 1.33% | 0.52% | 1.29% | 1.20% | 0.37% | 0.25% | 0.42% |
SAPEX Spectrum Active Advantage Fund | 5.07% | 4.77% | 2.23% | 0.88% | 0.00% | 33.33% | 1.43% | 0.74% | 3.09% | 4.26% | 0.17% | 0.00% |
Drawdowns
HSTRX vs. SAPEX - Drawdown Comparison
The maximum HSTRX drawdown since its inception was -13.53%, smaller than the maximum SAPEX drawdown of -40.48%. Use the drawdown chart below to compare losses from any high point for HSTRX and SAPEX.
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Drawdown Indicators
| HSTRX | SAPEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.53% | -40.48% | +26.95% |
Max Drawdown (1Y)Largest decline over 1 year | -3.14% | -7.62% | +4.48% |
Max Drawdown (5Y)Largest decline over 5 years | -13.53% | -40.48% | +26.95% |
Max Drawdown (10Y)Largest decline over 10 years | -13.53% | -40.48% | +26.95% |
Current DrawdownCurrent decline from peak | -1.97% | -22.31% | +20.34% |
Average DrawdownAverage peak-to-trough decline | -2.70% | -14.52% | +11.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 2.25% | -1.38% |
Volatility
HSTRX vs. SAPEX - Volatility Comparison
The current volatility for Hussman Strategic Total Return Fund (HSTRX) is 1.22%, while Spectrum Active Advantage Fund (SAPEX) has a volatility of 3.32%. This indicates that HSTRX experiences smaller price fluctuations and is considered to be less risky than SAPEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HSTRX | SAPEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 3.32% | -2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.21% | 7.72% | -4.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.62% | 10.76% | -4.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.46% | 14.62% | -8.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.96% | 16.75% | -10.79% |