IPSAX vs. SHIIX

Last updated Apr 1, 2026

Compare and contrast key facts about IPS Strategic Capital Absolute Return Fund (IPSAX) and Catalyst Buffered Shield Fund (SHIIX).

IPSAX is managed by WP Trust. It was launched on Apr 14, 2016. SHIIX is managed by Catalyst Mutual Funds. It was launched on Apr 13, 2015.

Performance

IPSAX vs. SHIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IPS Strategic Capital Absolute Return Fund (IPSAX) and Catalyst Buffered Shield Fund (SHIIX). The values are adjusted to include any dividend payments, if applicable.

IPSAX vs. SHIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPSAX IPS Strategic Capital Absolute Return Fund	-9.12%	9.13%	16.99%	16.10%	-16.02%	18.27%	3.11%	14.20%	-5.36%	13.56%
SHIIX Catalyst Buffered Shield Fund	-3.13%	10.88%	13.57%	14.03%	-18.44%	14.15%	7.18%	20.24%	-5.58%	14.17%

Returns By Period

In the year-to-date period, IPSAX achieves a -9.12% return, which is significantly lower than SHIIX's -3.13% return.

IPSAX

• 1D: -0.22%
• 1M: -8.57%
• YTD: -9.12%
• 6M: -9.28%
• 1Y: 1.57%
• 3Y*: 9.47%
• 5Y*: 5.15%
• 10Y*: —

SHIIX

• 1D: -0.09%
• 1M: -4.09%
• YTD: -3.13%
• 6M: -1.09%
• 1Y: 10.03%
• 3Y*: 10.44%
• 5Y*: 4.67%
• 10Y*: 6.69%

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

IPSAX vs. SHIIX - Expense Ratio Comparison

IPSAX has a 1.50% expense ratio, which is higher than SHIIX's 1.23% expense ratio.

IPSAX

IPS Strategic Capital Absolute Return Fund

SHIIX

Catalyst Buffered Shield Fund

Return for Risk

IPSAX vs. SHIIX — Risk / Return Rank

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

IPSAX

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

SHIIX

SHIIX Risk / Return Rank: 61
SHIIX Sharpe Ratio Rank: 57
SHIIX Sortino Ratio Rank: 59
SHIIX Omega Ratio Rank: 73
SHIIX Calmar Ratio Rank: 48
SHIIX Martin Ratio Rank: 68

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.

IPSAX vs. SHIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IPS Strategic Capital Absolute Return Fund (IPSAX) and Catalyst Buffered Shield Fund (SHIIX). 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.

	IPSAX	SHIIX	Difference
Sharpe ratio Return per unit of total volatility	0.14	1.06	-0.92
Sortino ratio Return per unit of downside risk	0.29	1.56	-1.27
Omega ratio Gain probability vs. loss probability	1.04	1.28	-0.24
Calmar ratio Return relative to maximum drawdown	0.05	1.20	-1.15
Martin ratio Return relative to average drawdown	0.17	6.48	-6.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IPSAX vs. SHIIX - Sharpe Ratio Comparison

The current IPSAX Sharpe Ratio is 0.14, which is lower than the SHIIX Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of IPSAX and SHIIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IPSAX	SHIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.14	1.06	-0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	0.55	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.77	-0.77

Correlation

The correlation between IPSAX and SHIIX is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

IPSAX vs. SHIIX - Dividend Comparison

IPSAX's dividend yield for the trailing twelve months is around 16.29%, more than SHIIX's 3.12% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IPSAX IPS Strategic Capital Absolute Return Fund	16.29%	14.81%	13.88%	0.00%	12.04%	5.18%	0.46%	9.23%	0.00%	9.16%	0.69%
SHIIX Catalyst Buffered Shield Fund	3.12%	3.02%	2.94%	2.52%	0.68%	16.99%	2.01%	6.13%	10.13%	14.66%	0.79%

Drawdowns

IPSAX vs. SHIIX - Drawdown Comparison

The maximum IPSAX drawdown since its inception was -98.83%, which is greater than SHIIX's maximum drawdown of -20.20%. Use the drawdown chart below to compare losses from any high point for IPSAX and SHIIX.

Drawdown Indicators

	IPSAX	SHIIX	Difference
Max Drawdown Largest peak-to-trough decline	-98.83%	-20.20%	-78.63%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-7.44%	-4.65%
Max Drawdown (5Y) Largest decline over 5 years	-98.83%	-20.20%	-78.63%
Max Drawdown (10Y) Largest decline over 10 years	—	-20.20%	—
Current Drawdown Current decline from peak	-98.73%	-4.27%	-94.46%
Average Drawdown Average peak-to-trough decline	-15.94%	-4.18%	-11.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	1.38%	+2.20%

Volatility

IPSAX vs. SHIIX - Volatility Comparison

IPS Strategic Capital Absolute Return Fund (IPSAX) has a higher volatility of 3.14% compared to Catalyst Buffered Shield Fund (SHIIX) at 2.39%. This indicates that IPSAX's price experiences larger fluctuations and is considered to be riskier than SHIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPSAX	SHIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	2.39%	+0.75%
Volatility (6M) Calculated over the trailing 6-month period	7.99%	3.76%	+4.23%
Volatility (1Y) Calculated over the trailing 1-year period	12.95%	9.97%	+2.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3,885.75%	8.60%	+3,877.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2,754.10%	8.57%	+2,745.53%