ORTFX vs. ATGAX

Last updated Jun 23, 2026

ORTFX (Aquila Tax-Free Trust of Oregon) and ATGAX (Aquila Opportunity Growth Fund) are both mutual funds - ORTFX is a Municipal Bonds fund managed by Aquila, while ATGAX is a Mid Cap Blend Equities fund managed by Aquila. At a 0.46 correlation, their price movements are largely independent. ORTFX charges 0.70%/yr vs 1.50%/yr for ATGAX.

Performance

ORTFX vs. ATGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aquila Tax-Free Trust of Oregon (ORTFX) and Aquila Opportunity Growth Fund (ATGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ORTFX

• 1D: 0.10%
• 1M: 1.34%
• YTD: 1.39%
• 6M: 1.76%
• 1Y: 6.33%
• 3Y*: 2.65%
• 5Y*: 0.33%
• 10Y*: 1.13%

ATGAX

• 1D: 0.90%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ORTFX vs. ATGAX - Yearly Performance Comparison

	2026 (YTD)
ORTFX Aquila Tax-Free Trust of Oregon	0.85%
ATGAX Aquila Opportunity Growth Fund	2.38%

Correlation

The correlation between ORTFX and ATGAX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.46

Return for Risk

ORTFX vs. ATGAX — Risk / Return Rank

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

ORTFX

ORTFX Risk / Return Rank: 73
ORTFX Sharpe Ratio Rank: 93
ORTFX Sortino Ratio Rank: 95
ORTFX Omega Ratio Rank: 96
ORTFX Calmar Ratio Rank: 43
ORTFX Martin Ratio Rank: 37

ATGAX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

ORTFX vs. ATGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aquila Tax-Free Trust of Oregon (ORTFX) and Aquila Opportunity Growth Fund (ATGAX). 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.

	ORTFX	ATGAX	Difference
Sharpe ratio: Return per unit of total volatility	2.88	—	—
Sortino ratio: Return per unit of downside risk	4.67	—	—
Omega ratio: Gain probability vs. loss probability	1.78	—	—
Calmar ratio: Return relative to maximum drawdown	2.39	—	—
Martin ratio: Return relative to average drawdown	7.68	—	—

Drawdowns

ORTFX vs. ATGAX - Drawdown Comparison

The maximum ORTFX drawdown since its inception was -14.94%, which is greater than ATGAX's maximum drawdown of -3.70%. Use the drawdown chart below to compare losses from any high point for ORTFX and ATGAX.

Drawdown Indicators

	ORTFX	ATGAX	Difference
Max Drawdown Largest peak-to-trough decline	-14.94%	-3.70%	-11.24%
Max Drawdown (1Y) Largest decline over 1 year	-2.67%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.11%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-10.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-10.88%	—	—
Current Drawdown Current decline from peak	-0.65%	-0.70%	+0.05%
Average Drawdown Average peak-to-trough decline	-2.11%	-0.99%	-1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	—	—

Volatility

Volatility by Period

	ORTFX	ATGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.22%	19.52%	-17.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.85%	19.52%	-16.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.08%	19.52%	-16.44%

ORTFX vs. ATGAX - Expense Ratio Comparison

ORTFX has a 0.70% expense ratio, which is lower than ATGAX's 1.50% expense ratio.

Dividends

ORTFX vs. ATGAX - Dividend Comparison

ORTFX's dividend yield for the trailing twelve months is around 3.06%, while ATGAX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATGAX Aquila Opportunity Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ORTFX Aquila Tax-Free Trust of Oregon	3.06%	2.97%	2.27%	1.75%	1.30%	1.32%	1.64%	2.27%	2.30%	2.35%	2.49%	3.14%

Frequently Asked Questions

Can I hold both ORTFX and ATGAX in my portfolio?

ORTFX and ATGAX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.