ROM vs. CLPAX

Last updated Jun 4, 2026

ROM (ProShares Ultra Technology) and CLPAX (Catalyst Nasdaq-100 Hedged Equity Fund) are both funds - ROM is a Leveraged Equities fund tracking the Dow Jones U.S. Technology Index (200%), while CLPAX is a Derivative Income fund managed by Catalyst Mutual Funds. Over the past 10 years, ROM returned 42.70%/yr vs 8.09%/yr for CLPAX. Their correlation of 0.84 suggests significant overlap in exposure. ROM charges 0.95%/yr vs 1.74%/yr for CLPAX.

Performance

ROM vs. CLPAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra Technology (ROM) and Catalyst Nasdaq-100 Hedged Equity Fund (CLPAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ROM achieves a 77.72% return, which is significantly higher than CLPAX's 17.67% return. Over the past 10 years, ROM has outperformed CLPAX with an annualized return of 42.70%, while CLPAX has yielded a comparatively lower 8.09% annualized return.

ROM

• 1D: -2.01%
• 1M: 45.36%
• YTD: 77.72%
• 6M: 74.45%
• 1Y: 152.07%
• 3Y*: 59.24%
• 5Y*: 31.70%
• 10Y*: 42.70%

CLPAX

• 1D: 0.25%
• 1M: 9.92%
• YTD: 17.67%
• 6M: 12.98%
• 1Y: 29.30%
• 3Y*: 17.72%
• 5Y*: 9.79%
• 10Y*: 8.09%

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

ROM vs. CLPAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ROM ProShares Ultra Technology	77.72%	35.63%	31.65%	130.70%	-63.86%	77.75%	80.42%	102.10%	-9.89%	81.11%
CLPAX Catalyst Nasdaq-100 Hedged Equity Fund	17.67%	12.32%	11.42%	35.92%	-30.54%	13.11%	5.25%	19.41%	-3.65%	8.20%

Correlation

The correlation between ROM and CLPAX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 6, 2014	0.84

The correlation between ROM and CLPAX has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.

Return for Risk

ROM vs. CLPAX — Risk / Return Rank

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

ROM

ROM Risk / Return Rank: 83
ROM Sharpe Ratio Rank: 94
ROM Sortino Ratio Rank: 81
ROM Omega Ratio Rank: 80
ROM Calmar Ratio Rank: 85
ROM Martin Ratio Rank: 75

CLPAX

CLPAX Risk / Return Rank: 44
CLPAX Sharpe Ratio Rank: 56
CLPAX Sortino Ratio Rank: 52
CLPAX Omega Ratio Rank: 48
CLPAX Calmar Ratio Rank: 38
CLPAX Martin Ratio Rank: 27

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.

ROM vs. CLPAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Technology (ROM) and Catalyst Nasdaq-100 Hedged Equity Fund (CLPAX). 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.

	ROM	CLPAX	Difference
Sharpe ratio: Return per unit of total volatility	3.66	2.21	+1.46
Sortino ratio: Return per unit of downside risk	3.69	3.03	+0.65
Omega ratio: Gain probability vs. loss probability	1.48	1.38	+0.10
Calmar ratio: Return relative to maximum drawdown	4.73	2.34	+2.39
Martin ratio: Return relative to average drawdown	14.47	6.55	+7.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ROM vs. CLPAX - Sharpe Ratio Comparison

The current ROM Sharpe Ratio is 3.66, which is higher than the CLPAX Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of ROM and CLPAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ROM	CLPAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.66	2.21	+1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.62	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.56	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.47	+0.07

Drawdowns

ROM vs. CLPAX - Drawdown Comparison

The maximum ROM drawdown since its inception was -83.36%, which is greater than CLPAX's maximum drawdown of -32.47%. Use the drawdown chart below to compare losses from any high point for ROM and CLPAX.

Drawdown Indicators

	ROM	CLPAX	Difference
Max Drawdown Largest peak-to-trough decline	-83.36%	-32.47%	-50.89%
Max Drawdown (1Y) Largest decline over 1 year	-32.33%	-12.87%	-19.46%
Max Drawdown (3Y) Largest decline over 3 years	-48.10%	-18.37%	-29.73%
Max Drawdown (5Y) Largest decline over 5 years	-67.55%	-32.47%	-35.08%
Max Drawdown (10Y) Largest decline over 10 years	-67.55%	-32.47%	-35.08%
Current Drawdown Current decline from peak	-2.01%	0.00%	-2.01%
Average Drawdown Average peak-to-trough decline	-20.88%	-8.08%	-12.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.55%	4.59%	+5.96%

Volatility

ROM vs. CLPAX - Volatility Comparison

ProShares Ultra Technology (ROM) has a higher volatility of 14.00% compared to Catalyst Nasdaq-100 Hedged Equity Fund (CLPAX) at 4.95%. This indicates that ROM's price experiences larger fluctuations and is considered to be riskier than CLPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ROM	CLPAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.00%	4.95%	+9.05%
Volatility (6M) Calculated over the trailing 6-month period	33.37%	10.29%	+23.08%
Volatility (1Y) Calculated over the trailing 1-year period	41.83%	13.65%	+28.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.63%	15.82%	+35.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.82%	14.47%	+35.35%

ROM vs. CLPAX - Expense Ratio Comparison

ROM has a 0.95% expense ratio, which is lower than CLPAX's 1.74% expense ratio.

Dividends

ROM vs. CLPAX - Dividend Comparison

ROM's dividend yield for the trailing twelve months is around 0.14%, less than CLPAX's 7.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CLPAX Catalyst Nasdaq-100 Hedged Equity Fund	7.74%	9.10%	0.00%	0.00%	2.68%	0.32%	0.49%	5.41%	0.30%	0.02%	0.00%	17.26%
ROM ProShares Ultra Technology	0.14%	0.24%	0.21%	0.01%	0.00%	0.00%	0.05%	0.16%	0.30%	0.08%	0.20%	0.12%

Frequently Asked Questions

Can I hold both ROM and CLPAX in my portfolio?

ROM and CLPAX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ROM or CLPAX?

ROM has higher volatility (14.00%) compared to CLPAX (4.95%). In terms of maximum drawdown, ROM dropped -83.36% vs CLPAX's -32.47%.

Which has better risk-adjusted returns?

ROM currently has the higher Sharpe Ratio (3.66 vs 2.21), 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.