KAMIX vs. CBYYX
KAMIX (Kensington Managed Income Fund) and CBYYX (Victory Pioneer Cat Bond Fund Class Y) are both Nontraditional Bonds funds. Over the past year, KAMIX returned 7.11% vs 10.95% for CBYYX. At a 0.00 correlation, their price movements are largely independent. KAMIX charges 1.36%/yr vs 1.46%/yr for CBYYX.
Performance
KAMIX vs. CBYYX - Performance Comparison
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Returns By Period
In the year-to-date period, KAMIX achieves a 1.82% return, which is significantly lower than CBYYX's 2.27% return.
KAMIX
- 1D
- 0.10%
- 1M
- 0.62%
- YTD
- 1.82%
- 6M
- 2.20%
- 1Y
- 7.11%
- 3Y*
- 5.32%
- 5Y*
- —
- 10Y*
- —
CBYYX
- 1D
- 0.00%
- 1M
- 0.63%
- YTD
- 2.27%
- 6M
- 2.65%
- 1Y
- 10.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
KAMIX vs. CBYYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
KAMIX Kensington Managed Income Fund | 1.82% | 4.32% | 4.38% | 4.04% |
CBYYX Victory Pioneer Cat Bond Fund Class Y | 2.27% | 11.09% | 15.69% | 3.43% |
Correlation
The correlation between KAMIX and CBYYX is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2023 | 0.00 |
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Return for Risk
KAMIX vs. CBYYX — Risk / Return Rank
KAMIX
CBYYX
KAMIX vs. CBYYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Kensington Managed Income Fund (KAMIX) and Victory Pioneer Cat Bond Fund Class Y (CBYYX). 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.
| KAMIX | CBYYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.58 | ||
| Sortino ratioReturn per unit of downside risk | -26.42 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 8.74 | -7.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 121.08 | -118.20 |
| Martin ratioReturn relative to average drawdown | 13.06 | 426.15 | -413.09 |
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
| KAMIX | CBYYX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.40 | 8.97 | -6.58 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 1.45 | -0.64 |
Drawdowns
KAMIX vs. CBYYX - Drawdown Comparison
The maximum KAMIX drawdown since its inception was -6.11%, smaller than the maximum CBYYX drawdown of -8.72%. Use the drawdown chart below to compare losses from any high point for KAMIX and CBYYX.
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Drawdown Indicators
| KAMIX | CBYYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.11% | -8.72% | +2.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.55% | -0.09% | -2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -4.35% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.16% | -1.31% | -0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 0.03% | +0.53% |
Volatility
KAMIX vs. CBYYX - Volatility Comparison
Kensington Managed Income Fund (KAMIX) has a higher volatility of 1.05% compared to Victory Pioneer Cat Bond Fund Class Y (CBYYX) at 0.20%. This indicates that KAMIX's price experiences larger fluctuations and is considered to be riskier than CBYYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KAMIX | CBYYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 0.20% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 2.47% | 0.61% | +1.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.07% | 1.23% | +1.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.81% | 8.22% | -4.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.81% | 8.22% | -4.41% |
KAMIX vs. CBYYX - Expense Ratio Comparison
KAMIX has a 1.36% expense ratio, which is lower than CBYYX's 1.46% expense ratio.
Dividends
KAMIX vs. CBYYX - Dividend Comparison
KAMIX's dividend yield for the trailing twelve months is around 5.59%, less than CBYYX's 8.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CBYYX Victory Pioneer Cat Bond Fund Class Y | 8.93% | 9.14% | 10.33% | 9.41% | 0.00% |
KAMIX Kensington Managed Income Fund | 5.59% | 4.57% | 5.60% | 4.15% | 0.75% |
Frequently Asked Questions
KAMIX and CBYYX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KAMIX has higher volatility (1.05%) compared to CBYYX (0.20%). In terms of maximum drawdown, KAMIX dropped -6.11% vs CBYYX's -8.72%.
CBYYX currently has the higher Sharpe Ratio (8.97 vs 2.40), 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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