SDRIX vs. HRSTX
SDRIX (Swan Defined Risk Fund) and HRSTX (Rational Tactical Return Fund) are both Options Trading funds. Over the past 10 years, SDRIX returned 5.62%/yr vs 5.43%/yr for HRSTX. At a 0.36 correlation, their price movements are largely independent. SDRIX charges 1.18%/yr vs 1.99%/yr for HRSTX.
Performance
SDRIX vs. HRSTX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SDRIX having a 6.23% return and HRSTX slightly higher at 6.54%. Both investments have delivered pretty close results over the past 10 years, with SDRIX having a 5.62% annualized return and HRSTX not far behind at 5.43%.
SDRIX
- 1D
- 0.26%
- 1M
- 1.03%
- 6M
- 5.09%
- YTD
- 6.23%
- 1Y
- 13.98%
- 3Y*
- 8.84%
- 5Y*
- 5.16%
- 10Y*
- 5.62%
HRSTX
- 1D
- 0.24%
- 1M
- 1.71%
- 6M
- 6.61%
- YTD
- 6.54%
- 1Y
- 8.12%
- 3Y*
- 5.42%
- 5Y*
- 5.14%
- 10Y*
- 5.43%
SDRIX vs. HRSTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SDRIX Swan Defined Risk Fund | 6.23% | 10.72% | 4.91% | 12.37% | -12.84% | 17.41% | 5.25% | 12.75% | -8.85% | 10.25% |
HRSTX Rational Tactical Return Fund | 6.54% | 3.66% | 3.23% | 5.06% | 5.90% | 3.95% | 2.65% | 8.35% | 9.66% | 3.49% |
Correlation
The correlation between SDRIX and HRSTX is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | 0.36 |
Over the past year, SDRIX and HRSTX have become more correlated (0.62) than their long-term average of 0.36, meaning their price movements have been converging.
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Return for Risk
SDRIX vs. HRSTX — Risk / Return Rank
SDRIX
HRSTX
SDRIX vs. HRSTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Swan Defined Risk Fund (SDRIX) and Rational Tactical Return Fund (HRSTX). 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.
| SDRIX | HRSTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.48 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | 2.64 | -0.04 |
| Martin ratioReturn relative to average drawdown | 10.75 | 14.78 | -4.03 |
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Drawdowns
SDRIX vs. HRSTX - Drawdown Comparison
The maximum SDRIX drawdown since its inception was -20.69%, smaller than the maximum HRSTX drawdown of -69.69%. Use the drawdown chart below to compare losses from any high point for SDRIX and HRSTX.
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Drawdown Indicators
| SDRIX | HRSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.69% | -69.69% | +49.00% |
Max Drawdown (1Y)Largest decline over 1 year | -5.29% | -3.09% | -2.20% |
Max Drawdown (3Y)Largest decline over 3 years | -14.16% | -3.09% | -11.07% |
Max Drawdown (5Y)Largest decline over 5 years | -17.67% | -3.09% | -14.58% |
Max Drawdown (10Y)Largest decline over 10 years | -20.69% | -15.82% | -4.87% |
Current DrawdownCurrent decline from peak | -0.51% | -8.20% | +7.69% |
Average DrawdownAverage peak-to-trough decline | -3.53% | -31.47% | +27.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 0.55% | +0.73% |
Volatility
SDRIX vs. HRSTX - Volatility Comparison
Swan Defined Risk Fund (SDRIX) has a higher volatility of 3.38% compared to Rational Tactical Return Fund (HRSTX) at 3.03%. This indicates that SDRIX's price experiences larger fluctuations and is considered to be riskier than HRSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SDRIX | HRSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.38% | 3.03% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 6.50% | 5.17% | +1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.11% | 5.21% | +2.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.69% | 3.75% | +5.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.74% | 7.05% | +2.69% |
SDRIX vs. HRSTX - Expense Ratio Comparison
SDRIX has a 1.18% expense ratio, which is lower than HRSTX's 1.99% expense ratio.
Dividends
SDRIX vs. HRSTX - Dividend Comparison
SDRIX's dividend yield for the trailing twelve months is around 9.93%, more than HRSTX's 9.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HRSTX Rational Tactical Return Fund | 9.42% | 6.72% | 4.47% | 5.60% | 2.24% | 3.75% | 2.10% | 3.36% | 1.33% | 5.55% | 13.80% | 4.82% |
SDRIX Swan Defined Risk Fund | 9.93% | 10.55% | 0.00% | 12.37% | 0.00% | 0.00% | 0.34% | 1.21% | 1.00% | 0.76% | 1.42% | 0.78% |
Frequently Asked Questions
SDRIX and HRSTX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SDRIX has higher volatility (3.38%) compared to HRSTX (3.03%). In terms of maximum drawdown, SDRIX dropped -20.69% vs HRSTX's -69.69%.
SDRIX currently has the higher Sharpe Ratio (1.69 vs 1.56), 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.
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