LONGX vs. SNOIX
LONGX (Longboard Alternative Growth Fund) and SNOIX (Easterly Snow Capital Long/Short Opportunity Fund) are both Long-Short funds. Over the past 10 years, LONGX returned 24.95%/yr vs 10.79%/yr for SNOIX. A 0.53 correlation means they provide meaningful diversification when combined. LONGX charges 1.99%/yr vs 1.41%/yr for SNOIX.
Performance
LONGX vs. SNOIX - Performance Comparison
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Returns By Period
In the year-to-date period, LONGX achieves a 12.82% return, which is significantly higher than SNOIX's 7.81% return. Over the past 10 years, LONGX has outperformed SNOIX with an annualized return of 24.95%, while SNOIX has yielded a comparatively lower 10.79% annualized return.
LONGX
- 1D
- -0.06%
- 1M
- 3.49%
- YTD
- 12.82%
- 6M
- 10.82%
- 1Y
- 16.55%
- 3Y*
- 12.01%
- 5Y*
- 5.02%
- 10Y*
- 24.95%
SNOIX
- 1D
- -0.20%
- 1M
- -1.49%
- YTD
- 7.81%
- 6M
- 6.88%
- 1Y
- 23.81%
- 3Y*
- 14.54%
- 5Y*
- 8.76%
- 10Y*
- 10.79%
LONGX vs. SNOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LONGX Longboard Alternative Growth Fund | 12.82% | 1.49% | 14.95% | 5.64% | -13.21% | 13.89% | 27.70% | 13.82% | 270.32% | 19.08% |
SNOIX Easterly Snow Capital Long/Short Opportunity Fund | 7.81% | 20.66% | 5.17% | 10.84% | -3.10% | 26.26% | 1.44% | 22.44% | -11.25% | 12.80% |
Correlation
The correlation between LONGX and SNOIX is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2015 | 0.53 |
Over the past year, LONGX and SNOIX have become more correlated (0.76) than their long-term average of 0.53, meaning their price movements have been converging.
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Return for Risk
LONGX vs. SNOIX — Risk / Return Rank
LONGX
SNOIX
LONGX vs. SNOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Longboard Alternative Growth Fund (LONGX) and Easterly Snow Capital Long/Short Opportunity Fund (SNOIX). 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.
| LONGX | SNOIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.36 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 5.39 | -3.00 |
| Martin ratioReturn relative to average drawdown | 9.18 | 17.36 | -8.18 |
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Drawdowns
LONGX vs. SNOIX - Drawdown Comparison
The maximum LONGX drawdown since its inception was -77.16%, which is greater than SNOIX's maximum drawdown of -65.34%. Use the drawdown chart below to compare losses from any high point for LONGX and SNOIX.
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Drawdown Indicators
| LONGX | SNOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.16% | -65.34% | -11.82% |
Max Drawdown (1Y)Largest decline over 1 year | -7.09% | -4.50% | -2.59% |
Max Drawdown (3Y)Largest decline over 3 years | -14.57% | -15.33% | +0.76% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -17.66% | -1.62% |
Max Drawdown (10Y)Largest decline over 10 years | -77.16% | -34.43% | -42.73% |
Current DrawdownCurrent decline from peak | -0.06% | -2.41% | +2.35% |
Average DrawdownAverage peak-to-trough decline | -7.34% | -9.75% | +2.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.84% | 1.39% | +0.45% |
Volatility
LONGX vs. SNOIX - Volatility Comparison
Longboard Alternative Growth Fund (LONGX) and Easterly Snow Capital Long/Short Opportunity Fund (SNOIX) have volatilities of 3.22% and 3.19%, 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.
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Volatility by Period
| LONGX | SNOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.22% | 3.19% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 8.50% | 7.91% | +0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.91% | 11.85% | -0.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.91% | 15.02% | -3.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 137.79% | 16.40% | +121.39% |
LONGX vs. SNOIX - Expense Ratio Comparison
LONGX has a 1.99% expense ratio, which is higher than SNOIX's 1.41% expense ratio.
Dividends
LONGX vs. SNOIX - Dividend Comparison
LONGX has not paid dividends to shareholders, while SNOIX's dividend yield for the trailing twelve months is around 6.41%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LONGX Longboard Alternative Growth Fund | 0.00% | 0.00% | 0.00% | 5.40% | 7.64% | 1.73% | 0.00% | 0.00% | 3.10% | 268.50% | 23.29% | 0.00% |
SNOIX Easterly Snow Capital Long/Short Opportunity Fund | 6.41% | 6.91% | 5.10% | 2.29% | 7.07% | 8.98% | 1.86% | 1.95% | 2.06% | 4.80% | 0.36% | 2.79% |
Frequently Asked Questions
LONGX and SNOIX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LONGX has higher volatility (3.22%) compared to SNOIX (3.19%). In terms of maximum drawdown, LONGX dropped -77.16% vs SNOIX's -65.34%.
SNOIX currently has the higher Sharpe Ratio (2.05 vs 1.56), 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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