IPSAX vs. WPLCX

Last updated Jun 23, 2026

IPSAX (IPS Strategic Capital Absolute Return Fund) and WPLCX (WP Large Cap Income Plus Fund) are both mutual funds - IPSAX is a Options Trading fund managed by WP Trust, while WPLCX is a Large Cap Value Equities fund managed by WP Trust. Over the past 10 years, IPSAX returned 6.51%/yr vs 8.32%/yr for WPLCX. A 0.65 correlation means they provide meaningful diversification when combined. IPSAX charges 1.50%/yr vs 2.33%/yr for WPLCX.

Performance

IPSAX vs. WPLCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IPS Strategic Capital Absolute Return Fund (IPSAX) and WP Large Cap Income Plus Fund (WPLCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPSAX achieves a 0.20% return, which is significantly lower than WPLCX's 10.33% return. Over the past 10 years, IPSAX has underperformed WPLCX with an annualized return of 6.51%, while WPLCX has yielded a comparatively higher 8.32% annualized return.

IPSAX

• 1D: -1.56%
• 1M: -2.51%
• YTD: 0.20%
• 6M: -0.16%
• 1Y: 8.43%
• 3Y*: 11.13%
• 5Y*: 6.53%
• 10Y*: 6.51%

WPLCX

• 1D: 0.25%
• 1M: 1.11%
• YTD: 10.33%
• 6M: 9.30%
• 1Y: 25.98%
• 3Y*: 19.53%
• 5Y*: 6.09%
• 10Y*: 8.32%

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

IPSAX vs. WPLCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPSAX IPS Strategic Capital Absolute Return Fund	0.20%	9.13%	16.99%	16.10%	-16.02%	18.27%	3.11%	14.20%	-5.36%	13.56%
WPLCX WP Large Cap Income Plus Fund	10.33%	16.54%	19.35%	25.92%	-35.46%	22.54%	-22.55%	52.10%	-16.58%	23.73%

Correlation

The correlation between IPSAX and WPLCX is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Apr 18, 2016	0.65

The correlation between IPSAX and WPLCX shifts across timeframes, from 0.56 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

IPSAX vs. WPLCX — Risk / Return Rank

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

IPSAX

IPSAX Risk / Return Rank: 9
IPSAX Sharpe Ratio Rank: 9
IPSAX Sortino Ratio Rank: 9
IPSAX Omega Ratio Rank: 10
IPSAX Calmar Ratio Rank: 8
IPSAX Martin Ratio Rank: 8

WPLCX

WPLCX Risk / Return Rank: 33
WPLCX Sharpe Ratio Rank: 35
WPLCX Sortino Ratio Rank: 37
WPLCX Omega Ratio Rank: 34
WPLCX Calmar Ratio Rank: 30
WPLCX Martin Ratio Rank: 31

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. WPLCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IPS Strategic Capital Absolute Return Fund (IPSAX) and WP Large Cap Income Plus Fund (WPLCX). 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.

	IPSAX	WPLCX	Difference
Sharpe ratio: Return per unit of total volatility	0.73	1.58	-0.85
Sortino ratio: Return per unit of downside risk	1.06	2.35	-1.29
Omega ratio: Gain probability vs. loss probability	1.15	1.29	-0.14
Calmar ratio: Return relative to maximum drawdown	0.68	1.95	-1.27
Martin ratio: Return relative to average drawdown	2.01	6.69	-4.68

IPSAX vs. WPLCX - Sharpe Ratio Comparison

The current IPSAX Sharpe Ratio is 0.73, which is lower than the WPLCX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of IPSAX and WPLCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IPSAX vs. WPLCX - Drawdown Comparison

The maximum IPSAX drawdown since its inception was -81.31%, which is greater than WPLCX's maximum drawdown of -66.21%. Use the drawdown chart below to compare losses from any high point for IPSAX and WPLCX.

Drawdown Indicators

	IPSAX	WPLCX	Difference
Max Drawdown Largest peak-to-trough decline	-81.31%	-66.21%	-15.10%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-13.68%	+1.59%
Max Drawdown (3Y) Largest decline over 3 years	-81.31%	-23.09%	-58.22%
Max Drawdown (5Y) Largest decline over 5 years	-81.31%	-43.93%	-37.38%
Max Drawdown (10Y) Largest decline over 10 years	-81.31%	-66.21%	-15.10%
Current Drawdown Current decline from peak	-77.69%	-3.06%	-74.63%
Average Drawdown Average peak-to-trough decline	-14.85%	-13.28%	-1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.10%	3.99%	+0.11%

Volatility

IPSAX vs. WPLCX - Volatility Comparison

IPS Strategic Capital Absolute Return Fund (IPSAX) and WP Large Cap Income Plus Fund (WPLCX) have volatilities of 3.68% and 3.72%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPSAX	WPLCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	3.72%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	8.62%	14.45%	-5.83%
Volatility (1Y) Calculated over the trailing 1-year period	11.36%	16.97%	-5.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	175.49%	25.97%	+149.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	124.18%	32.16%	+92.02%

IPSAX vs. WPLCX - Expense Ratio Comparison

IPSAX has a 1.50% expense ratio, which is lower than WPLCX's 2.33% expense ratio.

Dividends

IPSAX vs. WPLCX - Dividend Comparison

IPSAX's dividend yield for the trailing twelve months is around 14.78%, while WPLCX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPSAX IPS Strategic Capital Absolute Return Fund	14.78%	14.81%	13.88%	0.00%	12.04%	5.18%	0.46%	9.23%	0.00%	9.16%	0.69%	0.00%
WPLCX WP Large Cap Income Plus Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.28%	0.74%	2.41%	0.11%	2.56%	0.18%	0.19%

Frequently Asked Questions

Can I hold both IPSAX and WPLCX in my portfolio?

IPSAX and WPLCX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPSAX or WPLCX?

WPLCX has higher volatility (3.72%) compared to IPSAX (3.68%). In terms of maximum drawdown, IPSAX dropped -81.31% vs WPLCX's -66.21%.

Which has better risk-adjusted returns?

WPLCX currently has the higher Sharpe Ratio (1.58 vs 0.73), 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.