OPTZ vs. CTEF

Last updated Jun 25, 2026

OPTZ (Optimize Strategy Index ETF) and CTEF (Castellan Targeted Equity ETF) are both Mid Cap Blend Equities funds. OPTZ is passively managed, while CTEF is actively managed. Over the past year, OPTZ returned 57.85% vs 77.76% for CTEF. Their correlation of 0.81 suggests significant overlap in exposure. OPTZ charges 0.25%/yr vs 0.45%/yr for CTEF.

Performance

OPTZ vs. CTEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Optimize Strategy Index ETF (OPTZ) and Castellan Targeted Equity ETF (CTEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OPTZ achieves a 32.22% return, which is significantly lower than CTEF's 36.84% return.

OPTZ

• 1D: -0.25%
• 1M: 6.74%
• YTD: 32.22%
• 6M: 29.46%
• 1Y: 57.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CTEF

• 1D: -0.06%
• 1M: 13.46%
• YTD: 36.84%
• 6M: 33.43%
• 1Y: 77.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OPTZ vs. CTEF - Yearly Performance Comparison

	2026 (YTD)	2025
OPTZ Optimize Strategy Index ETF	32.22%	22.91%
CTEF Castellan Targeted Equity ETF	36.84%	33.10%

Correlation

The correlation between OPTZ and CTEF is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.81

The correlation between OPTZ and CTEF has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.

Return for Risk

OPTZ vs. CTEF — Risk / Return Rank

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

OPTZ

OPTZ Risk / Return Rank: 92
OPTZ Sharpe Ratio Rank: 93
OPTZ Sortino Ratio Rank: 91
OPTZ Omega Ratio Rank: 89
OPTZ Calmar Ratio Rank: 92
OPTZ Martin Ratio Rank: 94

CTEF

CTEF Risk / Return Rank: 94
CTEF Sharpe Ratio Rank: 96
CTEF Sortino Ratio Rank: 94
CTEF Omega Ratio Rank: 93
CTEF Calmar Ratio Rank: 91
CTEF Martin Ratio Rank: 94

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.

OPTZ vs. CTEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Optimize Strategy Index ETF (OPTZ) and Castellan Targeted Equity ETF (CTEF). 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.

	OPTZ	CTEF	Difference
Sharpe ratio: Return per unit of total volatility	2.94	3.46	-0.53
Sortino ratio: Return per unit of downside risk	3.78	4.35	-0.57
Omega ratio: Gain probability vs. loss probability	1.50	1.56	-0.06
Calmar ratio: Return relative to maximum drawdown	5.47	5.21	+0.26
Martin ratio: Return relative to average drawdown	23.91	24.08	-0.16

OPTZ vs. CTEF - Sharpe Ratio Comparison

The current OPTZ Sharpe Ratio is 2.94, which is comparable to the CTEF Sharpe Ratio of 3.46. The chart below compares the historical Sharpe Ratios of OPTZ and CTEF, 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

OPTZ vs. CTEF - Drawdown Comparison

The maximum OPTZ drawdown since its inception was -25.75%, which is greater than CTEF's maximum drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for OPTZ and CTEF.

Drawdown Indicators

	OPTZ	CTEF	Difference
Max Drawdown Largest peak-to-trough decline	-25.75%	-15.00%	-10.75%
Max Drawdown (1Y) Largest decline over 1 year	-10.63%	-15.00%	+4.37%
Current Drawdown Current decline from peak	-3.46%	-2.51%	-0.95%
Average Drawdown Average peak-to-trough decline	-3.36%	-1.75%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.43%	3.24%	-0.81%

Volatility

OPTZ vs. CTEF - Volatility Comparison

Optimize Strategy Index ETF (OPTZ) has a higher volatility of 9.72% compared to Castellan Targeted Equity ETF (CTEF) at 9.15%. This indicates that OPTZ's price experiences larger fluctuations and is considered to be riskier than CTEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OPTZ	CTEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.72%	9.15%	+0.57%
Volatility (6M) Calculated over the trailing 6-month period	16.06%	18.93%	-2.87%
Volatility (1Y) Calculated over the trailing 1-year period	19.87%	22.63%	-2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.27%	22.51%	-1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.27%	22.51%	-1.24%

OPTZ vs. CTEF - Expense Ratio Comparison

OPTZ has a 0.25% expense ratio, which is lower than CTEF's 0.45% expense ratio.

Dividends

OPTZ vs. CTEF - Dividend Comparison

OPTZ's dividend yield for the trailing twelve months is around 0.44%, more than CTEF's 0.06% yield.

Position	TTM	2025	2024
CTEF Castellan Targeted Equity ETF	0.06%	0.08%	0.00%
OPTZ Optimize Strategy Index ETF	0.44%	0.58%	0.32%

Frequently Asked Questions

Can I hold both OPTZ and CTEF in my portfolio?

OPTZ and CTEF have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OPTZ or CTEF?

OPTZ has higher volatility (9.72%) compared to CTEF (9.15%). In terms of maximum drawdown, OPTZ dropped -25.75% vs CTEF's -15.00%.

Which ETF is better, OPTZ or CTEF?

On 1-year performance, CTEF leads with 77.76% vs 57.85% for OPTZ. On fees, OPTZ is cheaper at 0.25% per year. On volatility, CTEF has been the lower-risk option at 9.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OPTZ or CTEF?

Over the 1-year period, CTEF has performed better with a 77.76% return vs 57.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OPTZ or CTEF?

OPTZ is cheaper with a 0.25% expense ratio, compared with 0.45% for CTEF.

Which ETF pays a higher dividend yield, OPTZ or CTEF?

OPTZ has the higher dividend yield at 0.44%, compared with 0.06% for CTEF.

What is the main difference between OPTZ and CTEF?

They also come from different issuers: Optimize and Castellan. Their fees differ too: 0.25% for OPTZ and 0.45% for CTEF.

Which has better risk-adjusted returns?

CTEF currently has the higher Sharpe Ratio (3.46 vs 2.94), 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.