SPAB vs. CPITX

Last updated Jun 4, 2026

SPAB (SPDR Portfolio Aggregate Bond ETF) and CPITX (Counterpoint Tactical Income Fund) are both funds - SPAB is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Bond Index, while CPITX is a Nontraditional Bonds fund managed by Counterpoint Mutual Funds. Over the past 10 years, SPAB returned 1.54%/yr vs 4.74%/yr for CPITX. At a 0.25 correlation, their price movements are largely independent. SPAB charges 0.03%/yr vs 1.46%/yr for CPITX.

Performance

SPAB vs. CPITX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Aggregate Bond ETF (SPAB) and Counterpoint Tactical Income Fund (CPITX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPAB achieves a 0.29% return, which is significantly higher than CPITX's -0.42% return. Over the past 10 years, SPAB has underperformed CPITX with an annualized return of 1.54%, while CPITX has yielded a comparatively higher 4.74% annualized return.

SPAB

• 1D: -0.12%
• 1M: 0.31%
• YTD: 0.29%
• 6M: 0.14%
• 1Y: 5.24%
• 3Y*: 3.93%
• 5Y*: 0.07%
• 10Y*: 1.54%

CPITX

• 1D: 0.09%
• 1M: 0.33%
• YTD: -0.42%
• 6M: -0.01%
• 1Y: 4.33%
• 3Y*: 5.86%
• 5Y*: 3.68%
• 10Y*: 4.74%

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

SPAB vs. CPITX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPAB SPDR Portfolio Aggregate Bond ETF	0.29%	7.25%	1.25%	5.56%	-13.04%	-1.77%	7.39%	8.67%	-0.18%	3.71%
CPITX Counterpoint Tactical Income Fund	-0.42%	4.58%	6.76%	9.81%	-2.40%	2.53%	8.47%	9.85%	-2.80%	4.93%

Correlation

The correlation between SPAB and CPITX is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Dec 8, 2014	0.25

Over the past year, SPAB and CPITX have become more correlated (0.51) than their long-term average of 0.25, meaning their price movements have been converging.

Return for Risk

SPAB vs. CPITX — Risk / Return Rank

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

SPAB

SPAB Risk / Return Rank: 38
SPAB Sharpe Ratio Rank: 38
SPAB Sortino Ratio Rank: 41
SPAB Omega Ratio Rank: 37
SPAB Calmar Ratio Rank: 38
SPAB Martin Ratio Rank: 36

CPITX

CPITX Risk / Return Rank: 37
CPITX Sharpe Ratio Rank: 38
CPITX Sortino Ratio Rank: 40
CPITX Omega Ratio Rank: 43
CPITX Calmar Ratio Rank: 37
CPITX Martin Ratio Rank: 25

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.

SPAB vs. CPITX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Aggregate Bond ETF (SPAB) and Counterpoint Tactical Income Fund (CPITX). 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.

	SPAB	CPITX	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.79	-0.39
Sortino ratio: Return per unit of downside risk	2.11	2.64	-0.53
Omega ratio: Gain probability vs. loss probability	1.25	1.36	-0.11
Calmar ratio: Return relative to maximum drawdown	1.92	2.29	-0.37
Martin ratio: Return relative to average drawdown	5.72	6.21	-0.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPAB vs. CPITX - Sharpe Ratio Comparison

The current SPAB Sharpe Ratio is 1.40, which is comparable to the CPITX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of SPAB and CPITX, 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

	SPAB	CPITX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	1.79	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	1.34	-1.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	1.59	-1.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	1.66	-1.16

Drawdowns

SPAB vs. CPITX - Drawdown Comparison

The maximum SPAB drawdown since its inception was -18.56%, which is greater than CPITX's maximum drawdown of -4.59%. Use the drawdown chart below to compare losses from any high point for SPAB and CPITX.

Drawdown Indicators

	SPAB	CPITX	Difference
Max Drawdown Largest peak-to-trough decline	-18.56%	-4.59%	-13.97%
Max Drawdown (1Y) Largest decline over 1 year	-2.74%	-1.99%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	-6.08%	-3.80%	-2.28%
Max Drawdown (5Y) Largest decline over 5 years	-17.96%	-4.59%	-13.37%
Max Drawdown (10Y) Largest decline over 10 years	-18.56%	-4.59%	-13.97%
Current Drawdown Current decline from peak	-2.27%	-0.97%	-1.30%
Average Drawdown Average peak-to-trough decline	-3.08%	-0.95%	-2.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	0.73%	+0.19%

Volatility

SPAB vs. CPITX - Volatility Comparison

SPDR Portfolio Aggregate Bond ETF (SPAB) has a higher volatility of 1.15% compared to Counterpoint Tactical Income Fund (CPITX) at 0.79%. This indicates that SPAB's price experiences larger fluctuations and is considered to be riskier than CPITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPAB	CPITX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	0.79%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	2.57%	1.80%	+0.77%
Volatility (1Y) Calculated over the trailing 1-year period	3.77%	2.54%	+1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.92%	2.77%	+3.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.54%	2.99%	+2.55%

SPAB vs. CPITX - Expense Ratio Comparison

SPAB has a 0.03% expense ratio, which is lower than CPITX's 1.46% expense ratio.

Dividends

SPAB vs. CPITX - Dividend Comparison

SPAB's dividend yield for the trailing twelve months is around 4.05%, less than CPITX's 4.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPITX Counterpoint Tactical Income Fund	4.86%	5.18%	5.92%	5.80%	2.62%	3.93%	2.25%	3.68%	3.52%	4.60%	4.60%	1.39%
SPAB SPDR Portfolio Aggregate Bond ETF	4.05%	3.97%	3.86%	3.34%	2.59%	2.11%	2.43%	2.92%	2.96%	2.67%	2.63%	2.59%

Frequently Asked Questions

Can I hold both SPAB and CPITX in my portfolio?

SPAB and CPITX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPAB or CPITX?

SPAB has higher volatility (1.15%) compared to CPITX (0.79%). In terms of maximum drawdown, SPAB dropped -18.56% vs CPITX's -4.59%.

Which has better risk-adjusted returns?

CPITX currently has the higher Sharpe Ratio (1.79 vs 1.40), 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.