OTRFX vs. HFSAX

Last updated Aug 1, 2026

OTRFX (OnTrack Core Fund) and HFSAX (Hundredfold Select Alternative Fund Investor Class) are both Tactical Allocation funds from Advisors Preferred. Over the past 10 years, OTRFX returned 5.20%/yr vs 8.17%/yr for HFSAX. Their 0.53 correlation means they have sometimes moved together and sometimes differently. OTRFX charges 2.58%/yr vs 1.75%/yr for HFSAX.

Performance

OTRFX vs. HFSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OnTrack Core Fund (OTRFX) and Hundredfold Select Alternative Fund Investor Class (HFSAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OTRFX achieves a 4.93% return, which is significantly higher than HFSAX's 0.62% return. Over the past 10 years, OTRFX has underperformed HFSAX with an annualized return of 5.20%, while HFSAX has yielded a comparatively higher 8.17% annualized return.

OTRFX

• 1D: 0.10%
• 1M: -0.10%
• 6M: 1.36%
• YTD: 4.93%
• 1Y: 9.39%
• 3Y*: 5.76%
• 5Y*: 1.79%
• 10Y*: 5.20%
• ALL TIME*: 4.35%

HFSAX

• 1D: 0.37%
• 1M: -0.21%
• 6M: -0.45%
• YTD: 0.62%
• 1Y: 7.69%
• 3Y*: 7.99%
• 5Y*: 3.52%
• 10Y*: 8.17%
• ALL TIME*: 7.17%

*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)
HFSAX Hundredfold Select Alternative Fund Investor Class	$0.00	$0.00	$0.00
OTRFX OnTrack Core Fund	$0.00	$0.00	$0.00

OTRFX vs. HFSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OTRFX OnTrack Core Fund	4.93%	6.12%	-0.12%	5.37%	-5.82%	3.94%	29.03%	6.86%	-4.70%	6.49%
HFSAX Hundredfold Select Alternative Fund Investor Class	0.62%	11.97%	3.75%	10.93%	-9.44%	9.05%	38.71%	10.35%	-1.97%	9.91%

Correlation

The correlation between OTRFX and HFSAX is 0.72, 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.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (5Y) Shows whether the relationship held over a longer period.	0.53
Correlation (10Y) Provides a long-term view across more market conditions.	0.53
Correlation (All Time) Calculated using the full available price history since Jan 16, 2013	0.53

The correlation between OTRFX and HFSAX shifts across timeframes, from 0.53 (5 years) to 0.72 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

OTRFX vs. HFSAX — Risk / Return Rank

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

OTRFX

OTRFX Risk / Return Rank: 81
OTRFX Sharpe Ratio Rank: 90
OTRFX Sortino Ratio Rank: 86
OTRFX Omega Ratio Rank: 94
OTRFX Calmar Ratio Rank: 88
OTRFX Martin Ratio Rank: 47

HFSAX

HFSAX Risk / Return Rank: 58
HFSAX Sharpe Ratio Rank: 68
HFSAX Sortino Ratio Rank: 59
HFSAX Omega Ratio Rank: 70
HFSAX Calmar Ratio Rank: 61
HFSAX Martin Ratio Rank: 35

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.

OTRFX vs. HFSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OnTrack Core Fund (OTRFX) and Hundredfold Select Alternative Fund Investor Class (HFSAX). 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.

	OTRFX	HFSAX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.57	+0.70
Sortino ratio: Return per unit of downside risk	3.09	2.07	+1.02
Omega ratio: Gain probability vs. loss probability	1.56	1.30	+0.26
Calmar ratio: Return relative to maximum drawdown	3.11	2.03	+1.08
Martin ratio: Return relative to average drawdown	6.54	5.01	+1.53

OTRFX vs. HFSAX - Sharpe Ratio Comparison

The current OTRFX Sharpe Ratio is 2.27, which is higher than the HFSAX Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of OTRFX and HFSAX, 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

OTRFX vs. HFSAX - Drawdown Comparison

The maximum OTRFX drawdown since its inception was -9.73%, smaller than the maximum HFSAX drawdown of -12.81%. Use the drawdown chart below to compare losses from any high point for OTRFX and HFSAX.

Drawdown Indicators

	OTRFX	HFSAX	Difference
Max Drawdown Largest peak-to-trough decline	-9.73%	-12.81%	+3.08%
Max Drawdown (1Y) Largest decline over 1 year	-3.02%	-3.68%	+0.66%
Max Drawdown (3Y) Largest decline over 3 years	-5.76%	-5.67%	-0.09%
Max Drawdown (5Y) Largest decline over 5 years	-9.51%	-12.13%	+2.62%
Max Drawdown (10Y) Largest decline over 10 years	-9.51%	-12.81%	+3.30%
Current Drawdown Current decline from peak	-1.21%	-2.18%	+0.97%
Average Drawdown Average peak-to-trough decline	-2.95%	-2.38%	-0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.43%	1.48%	-0.05%

Volatility

OTRFX vs. HFSAX - Volatility Comparison

The current volatility for OnTrack Core Fund (OTRFX) is 0.47%, while Hundredfold Select Alternative Fund Investor Class (HFSAX) has a volatility of 0.98%. This indicates that OTRFX experiences smaller price fluctuations and is considered to be less risky than HFSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OTRFX	HFSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.47%	0.98%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	2.29%	3.59%	-1.30%
Volatility (1Y) Calculated over the trailing 1-year period	4.15%	4.75%	-0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.07%	6.20%	-3.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.56%	6.23%	-2.67%

OTRFX vs. HFSAX - Expense Ratio Comparison

OTRFX has a 2.58% expense ratio, which is higher than HFSAX's 1.75% expense ratio.

Dividends

OTRFX vs. HFSAX - Dividend Comparison

OTRFX's dividend yield for the trailing twelve months is around 12.43%, more than HFSAX's 9.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HFSAX Hundredfold Select Alternative Fund Investor Class	9.69%	9.75%	5.87%	5.17%	4.92%	10.98%	13.58%	6.44%	3.11%	11.06%	5.60%	1.85%
OTRFX OnTrack Core Fund	12.43%	13.04%	8.01%	0.14%	1.39%	7.10%	2.36%	1.38%	7.15%	2.69%	7.05%	6.15%

Frequently Asked Questions

Can I hold both OTRFX and HFSAX in my portfolio?

OTRFX and HFSAX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OTRFX or HFSAX?

HFSAX has higher volatility (0.98%) compared to OTRFX (0.47%). In terms of maximum drawdown, OTRFX dropped -9.73% vs HFSAX's -12.81%.

Which has better risk-adjusted returns?

OTRFX currently has the higher Sharpe Ratio (2.27 vs 1.57), 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.