NDOW vs. FARX

Last updated Aug 1, 2026

NDOW (Anydrus Advantage ETF) and FARX (Frontier Asset Absolute Return ETF) are both exchange-traded funds - NDOW is a Global Allocation fund actively managed by Anydrus, while FARX is a Multistrategy fund actively managed by Frontier. Both are actively managed. Over the past year, NDOW returned 12.87% vs 18.36% for FARX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. NDOW charges 2.15%/yr vs 1.00%/yr for FARX.

Performance

NDOW vs. FARX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Anydrus Advantage ETF (NDOW) and Frontier Asset Absolute Return ETF (FARX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NDOW achieves a 4.81% return, which is significantly lower than FARX's 8.85% return.

NDOW

• 1D: 0.22%
• 1M: -1.56%
• 6M: 1.76%
• YTD: 4.81%
• 1Y: 12.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.81%

FARX

• 1D: 0.26%
• 1M: 1.45%
• 6M: 5.21%
• YTD: 8.85%
• 1Y: 18.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.25%

*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)
FARX Frontier Asset Absolute Return ETF	$13.77K	$28.36K	$41.16K
NDOW Anydrus Advantage ETF	$318.16K	$248.70K	$289.75K

NDOW vs. FARX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NDOW Anydrus Advantage ETF	4.81%	14.80%	0.31%
FARX Frontier Asset Absolute Return ETF	8.85%	10.61%	0.04%

Correlation

The correlation between NDOW and FARX is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.68
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024	0.64

The correlation between NDOW and FARX has been stable across timeframes, ranging from 0.64 to 0.68 - a consistent structural relationship.

Return for Risk

NDOW vs. FARX — Risk / Return Rank

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

NDOW

NDOW Risk / Return Rank: 51
NDOW Sharpe Ratio Rank: 53
NDOW Sortino Ratio Rank: 49
NDOW Omega Ratio Rank: 52
NDOW Calmar Ratio Rank: 48
NDOW Martin Ratio Rank: 52

FARX

FARX Risk / Return Rank: 93
FARX Sharpe Ratio Rank: 93
FARX Sortino Ratio Rank: 92
FARX Omega Ratio Rank: 93
FARX Calmar Ratio Rank: 96
FARX Martin Ratio Rank: 94

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.

NDOW vs. FARX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Anydrus Advantage ETF (NDOW) and Frontier Asset Absolute Return ETF (FARX). 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.

	NDOW	FARX	Difference
Sharpe ratio: Return per unit of total volatility	1.30	2.46	-1.16
Sortino ratio: Return per unit of downside risk	1.79	3.35	-1.56
Omega ratio: Gain probability vs. loss probability	1.24	1.48	-0.24
Calmar ratio: Return relative to maximum drawdown	1.75	6.04	-4.28
Martin ratio: Return relative to average drawdown	6.13	18.24	-12.11

NDOW vs. FARX - Sharpe Ratio Comparison

The current NDOW Sharpe Ratio is 1.30, which is lower than the FARX Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of NDOW and FARX, 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

NDOW vs. FARX - Drawdown Comparison

The maximum NDOW drawdown since its inception was -8.76%, which is greater than FARX's maximum drawdown of -5.83%. Use the drawdown chart below to compare losses from any high point for NDOW and FARX.

Drawdown Indicators

	NDOW	FARX	Difference
Max Drawdown Largest peak-to-trough decline	-8.76%	-5.83%	-2.93%
Max Drawdown (1Y) Largest decline over 1 year	-7.17%	-2.99%	-4.18%
Current Drawdown Current decline from peak	-3.83%	-0.99%	-2.84%
Average Drawdown Average peak-to-trough decline	-1.48%	-1.08%	-0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	0.99%	+1.06%

Volatility

NDOW vs. FARX - Volatility Comparison

Anydrus Advantage ETF (NDOW) has a higher volatility of 1.82% compared to Frontier Asset Absolute Return ETF (FARX) at 1.70%. This indicates that NDOW's price experiences larger fluctuations and is considered to be riskier than FARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NDOW	FARX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.82%	1.70%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	8.29%	5.60%	+2.69%
Volatility (1Y) Calculated over the trailing 1-year period	9.72%	7.36%	+2.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.03%	6.99%	+2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.03%	6.99%	+2.04%

NDOW vs. FARX - Expense Ratio Comparison

NDOW has a 2.15% expense ratio, which is higher than FARX's 1.00% expense ratio.

Dividends

NDOW vs. FARX - Dividend Comparison

NDOW's dividend yield for the trailing twelve months is around 1.18%, less than FARX's 2.87% yield.

Position	TTM	2025	2024
FARX Frontier Asset Absolute Return ETF	2.87%	3.25%	0.19%
NDOW Anydrus Advantage ETF	1.18%	1.24%	1.39%

Frequently Asked Questions

Can I hold both NDOW and FARX in my portfolio?

NDOW and FARX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NDOW or FARX?

NDOW has higher volatility (1.82%) compared to FARX (1.70%). In terms of maximum drawdown, NDOW dropped -8.76% vs FARX's -5.83%.

Which ETF is better, NDOW or FARX?

On 1-year performance, FARX leads with 18.36% vs 12.87% for NDOW. On fees, FARX is cheaper at 1.00% per year. On volatility, FARX has been the lower-risk option at 1.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NDOW or FARX?

Over the 1-year period, FARX has performed better with a 18.36% return vs 12.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NDOW or FARX?

FARX is cheaper with a 1.00% expense ratio, compared with 2.15% for NDOW.

Which ETF pays a higher dividend yield, NDOW or FARX?

FARX has the higher dividend yield at 2.87%, compared with 1.18% for NDOW.

What is the main difference between NDOW and FARX?

NDOW is categorized as Global Allocation, while FARX is Multistrategy. They also come from different issuers: Anydrus and Frontier. Their fees differ too: 2.15% for NDOW and 1.00% for FARX.

Which has better risk-adjusted returns?

FARX currently has the higher Sharpe Ratio (2.46 vs 1.30), 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.