NEARX vs. APUSX

Last updated Apr 1, 2026

Compare and contrast key facts about U.S. Global Investors Near-Term Tax Free Fund (NEARX) and Cavanal Hill Ultra Short Tax-Free Income Fund (APUSX).

NEARX is managed by US Global. It was launched on Dec 3, 1990. APUSX is managed by Cavanal Hill funds. It was launched on Dec 25, 2017.

Performance

NEARX vs. APUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in U.S. Global Investors Near-Term Tax Free Fund (NEARX) and Cavanal Hill Ultra Short Tax-Free Income Fund (APUSX). The values are adjusted to include any dividend payments, if applicable.

NEARX vs. APUSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
NEARX U.S. Global Investors Near-Term Tax Free Fund	-0.09%	3.47%	2.19%	3.04%	-5.25%	-0.46%	2.94%
APUSX Cavanal Hill Ultra Short Tax-Free Income Fund	0.21%	3.88%	3.65%	2.63%	-0.18%	-0.40%	0.15%

Returns By Period

In the year-to-date period, NEARX achieves a -0.09% return, which is significantly lower than APUSX's 0.21% return.

NEARX

• 1D: 0.00%
• 1M: -1.41%
• YTD: -0.09%
• 6M: 0.07%
• 1Y: 2.28%
• 3Y*: 2.54%
• 5Y*: 0.66%
• 10Y*: 1.01%

APUSX

• 1D: 0.00%
• 1M: -0.10%
• YTD: 0.21%
• 6M: 0.87%
• 1Y: 2.54%
• 3Y*: 3.21%
• 5Y*: 1.96%
• 10Y*: —

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

NEARX vs. APUSX - Expense Ratio Comparison

NEARX has a 0.45% expense ratio, which is lower than APUSX's 0.60% expense ratio.

APUSX

Cavanal Hill Ultra Short Tax-Free Income Fund

NEARX

U.S. Global Investors Near-Term Tax Free Fund

Return for Risk

NEARX vs. APUSX — Risk / Return Rank

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

NEARX

NEARX Risk / Return Rank: 64
NEARX Sharpe Ratio Rank: 48
NEARX Sortino Ratio Rank: 53
NEARX Omega Ratio Rank: 87
NEARX Calmar Ratio Rank: 75
NEARX Martin Ratio Rank: 59

APUSX

APUSX Risk / Return Rank: 99
APUSX Sharpe Ratio Rank: 98
APUSX Sortino Ratio Rank: 100
APUSX Omega Ratio Rank: 100
APUSX Calmar Ratio Rank: 100
APUSX Martin Ratio Rank: 100

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.

NEARX vs. APUSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for U.S. Global Investors Near-Term Tax Free Fund (NEARX) and Cavanal Hill Ultra Short Tax-Free Income Fund (APUSX). 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.

	NEARX	APUSX	Difference
Sharpe ratio Return per unit of total volatility	0.95	2.94	-1.99
Sortino ratio Return per unit of downside risk	1.47	12.78	-11.31
Omega ratio Gain probability vs. loss probability	1.37	6.20	-4.83
Calmar ratio Return relative to maximum drawdown	1.75	15.80	-14.05
Martin ratio Return relative to average drawdown	5.70	57.56	-51.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NEARX vs. APUSX - Sharpe Ratio Comparison

The current NEARX Sharpe Ratio is 0.95, which is lower than the APUSX Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of NEARX and APUSX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	NEARX	APUSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	2.94	-1.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	1.60	-1.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	1.40	-1.37

Correlation

The correlation between NEARX and APUSX is 0.20, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

NEARX vs. APUSX - Dividend Comparison

NEARX's dividend yield for the trailing twelve months is around 2.26%, less than APUSX's 2.61% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NEARX U.S. Global Investors Near-Term Tax Free Fund	2.26%	2.45%	2.65%	2.50%	1.10%	0.88%	1.10%	1.46%	2.01%	1.47%	1.36%	1.83%
APUSX Cavanal Hill Ultra Short Tax-Free Income Fund	2.61%	3.69%	3.68%	1.69%	0.33%	0.00%	0.25%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

NEARX vs. APUSX - Drawdown Comparison

The maximum NEARX drawdown since its inception was -80.12%, which is greater than APUSX's maximum drawdown of -1.64%. Use the drawdown chart below to compare losses from any high point for NEARX and APUSX.

Drawdown Indicators

	NEARX	APUSX	Difference
Max Drawdown Largest peak-to-trough decline	-80.12%	-1.64%	-78.48%
Max Drawdown (1Y) Largest decline over 1 year	-1.42%	-0.20%	-1.22%
Max Drawdown (5Y) Largest decline over 5 years	-6.91%	-1.45%	-5.46%
Max Drawdown (10Y) Largest decline over 10 years	-6.91%	—	—
Current Drawdown Current decline from peak	-1.41%	-0.10%	-1.31%
Average Drawdown Average peak-to-trough decline	-25.15%	-0.30%	-24.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	0.05%	+0.39%

Volatility

NEARX vs. APUSX - Volatility Comparison

U.S. Global Investors Near-Term Tax Free Fund (NEARX) has a higher volatility of 1.04% compared to Cavanal Hill Ultra Short Tax-Free Income Fund (APUSX) at 0.10%. This indicates that NEARX's price experiences larger fluctuations and is considered to be riskier than APUSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEARX	APUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.04%	0.10%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	1.53%	0.53%	+1.00%
Volatility (1Y) Calculated over the trailing 1-year period	2.64%	1.09%	+1.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.51%	1.24%	+1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.56%	1.14%	+1.42%