LSOFX vs. ATESX

Last updated Aug 4, 2026

LSOFX (LS Opportunity Fund - Institutional Class) and ATESX (Anchor Risk Managed Equity Strategies Fund) are both Long-Short funds. Over the past 5 years, LSOFX returned 5.96%/yr vs 2.98%/yr for ATESX. Their 0.35 correlation means their historical movements had little consistent relationship. LSOFX charges 1.95%/yr vs 2.10%/yr for ATESX.

Performance

LSOFX vs. ATESX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LS Opportunity Fund - Institutional Class (LSOFX) and Anchor Risk Managed Equity Strategies Fund (ATESX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LSOFX achieves a 5.59% return, which is significantly higher than ATESX's 2.80% return.

LSOFX

• 1D: 0.94%
• 1M: 2.81%
• 6M: 3.58%
• YTD: 5.59%
• 1Y: 7.58%
• 3Y*: 7.22%
• 5Y*: 5.96%
• 10Y*: 7.25%
• ALL TIME*: 6.64%

ATESX

• 1D: 0.13%
• 1M: -1.50%
• 6M: 1.93%
• YTD: 2.80%
• 1Y: 6.04%
• 3Y*: 4.89%
• 5Y*: 2.98%
• 10Y*: —
• ALL TIME*: 8.42%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ATESX Anchor Risk Managed Equity Strategies Fund	$0.00	$0.00	$0.00
LSOFX LS Opportunity Fund - Institutional Class	$0.00	$0.00	$0.00

LSOFX vs. ATESX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LSOFX LS Opportunity Fund - Institutional Class	5.59%	3.85%	8.28%	11.00%	-3.12%	12.42%	4.35%	18.31%	-3.57%	9.59%
ATESX Anchor Risk Managed Equity Strategies Fund	2.80%	5.56%	7.21%	8.12%	-9.25%	11.06%	18.02%	20.31%	3.72%	16.12%

Correlation

The correlation between LSOFX and ATESX is 0.36, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.36
Correlation (3Y) Balances recent behavior with more history.	0.29
Correlation (5Y) Shows whether the relationship held over a longer period.	0.31
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.35

Return for Risk

LSOFX vs. ATESX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LSOFX

LSOFX Risk / Return Rank: 23
LSOFX Sharpe Ratio Rank: 22
LSOFX Sortino Ratio Rank: 23
LSOFX Omega Ratio Rank: 21
LSOFX Calmar Ratio Rank: 27
LSOFX Martin Ratio Rank: 25

ATESX

ATESX Risk / Return Rank: 8
ATESX Sharpe Ratio Rank: 8
ATESX Sortino Ratio Rank: 8
ATESX Omega Ratio Rank: 9
ATESX Calmar Ratio Rank: 9
ATESX Martin Ratio Rank: 7

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LSOFX vs. ATESX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LS Opportunity Fund - Institutional Class (LSOFX) and Anchor Risk Managed Equity Strategies Fund (ATESX). 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.

	LSOFX	ATESX	Difference
Sharpe ratio: Return per unit of total volatility	0.85	0.35	+0.51
Sortino ratio: Return per unit of downside risk	1.31	0.53	+0.79
Omega ratio: Gain probability vs. loss probability	1.15	1.07	+0.08
Calmar ratio: Return relative to maximum drawdown	1.30	0.47	+0.83
Martin ratio: Return relative to average drawdown	3.78	0.79	+2.99

LSOFX vs. ATESX - Sharpe Ratio Comparison

The current LSOFX Sharpe Ratio is 0.85, which is higher than the ATESX Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of LSOFX and ATESX, 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

LSOFX vs. ATESX - Drawdown Comparison

The maximum LSOFX drawdown since its inception was -22.05%, which is greater than ATESX's maximum drawdown of -12.87%. Use the drawdown chart below to compare losses from any high point for LSOFX and ATESX.

Drawdown Indicators

	LSOFX	ATESX	Difference
Max Drawdown Largest peak-to-trough decline	-22.05%	-12.87%	-9.18%
Max Drawdown (1Y) Largest decline over 1 year	-5.36%	-8.92%	+3.56%
Max Drawdown (3Y) Largest decline over 3 years	-10.43%	-10.73%	+0.30%
Max Drawdown (5Y) Largest decline over 5 years	-13.00%	-12.87%	-0.13%
Max Drawdown (10Y) Largest decline over 10 years	-22.05%	—	—
Current Drawdown Current decline from peak	0.00%	-8.61%	+8.61%
Average Drawdown Average peak-to-trough decline	-3.31%	-3.73%	+0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	5.26%	-3.42%

Volatility

LSOFX vs. ATESX - Volatility Comparison

LS Opportunity Fund - Institutional Class (LSOFX) has a higher volatility of 3.10% compared to Anchor Risk Managed Equity Strategies Fund (ATESX) at 2.36%. This indicates that LSOFX's price experiences larger fluctuations and is considered to be riskier than ATESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LSOFX	ATESX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.10%	2.36%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	6.30%	8.85%	-2.55%
Volatility (1Y) Calculated over the trailing 1-year period	8.20%	12.08%	-3.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.77%	10.72%	-0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.24%	11.09%	-0.85%

LSOFX vs. ATESX - Expense Ratio Comparison

LSOFX has a 1.95% expense ratio, which is lower than ATESX's 2.10% expense ratio.

Dividends

LSOFX vs. ATESX - Dividend Comparison

LSOFX's dividend yield for the trailing twelve months is around 31.80%, while ATESX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATESX Anchor Risk Managed Equity Strategies Fund	0.00%	0.00%	0.00%	1.30%	7.45%	0.00%	0.00%	11.78%	7.70%	6.02%	0.00%	0.00%
LSOFX LS Opportunity Fund - Institutional Class	31.80%	4.81%	0.98%	0.00%	5.27%	4.35%	1.28%	2.35%	2.71%	3.91%	0.00%	6.74%

Frequently Asked Questions

Can I hold both LSOFX and ATESX in my portfolio?

LSOFX and ATESX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LSOFX or ATESX?

LSOFX has higher volatility (3.10%) compared to ATESX (2.36%). In terms of maximum drawdown, LSOFX dropped -22.05% vs ATESX's -12.87%.

Which has better risk-adjusted returns?

LSOFX currently has the higher Sharpe Ratio (0.85 vs 0.35), 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.