TFAFX vs. ARBIX

Last updated Apr 1, 2026

Compare and contrast key facts about Tactical Growth Allocation Fund (TFAFX) and Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX).

TFAFX is managed by Tactical Fund Advisors. It was launched on Jun 9, 2019. ARBIX is an actively managed fund by Absolute Investment Advisers. It was launched on Aug 14, 2017.

Performance

TFAFX vs. ARBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tactical Growth Allocation Fund (TFAFX) and Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX). The values are adjusted to include any dividend payments, if applicable.

TFAFX vs. ARBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TFAFX Tactical Growth Allocation Fund	-6.64%	11.54%	20.19%	19.64%	-24.11%	16.14%	7.88%	3.73%
ARBIX Absolute Convertible Arbitrage Fund Institutional Shares	1.39%	8.29%	7.53%	5.30%	-0.53%	2.95%	9.28%	2.65%

Returns By Period

In the year-to-date period, TFAFX achieves a -6.64% return, which is significantly lower than ARBIX's 1.39% return.

TFAFX

• 1D: -0.41%
• 1M: -6.71%
• YTD: -6.64%
• 6M: -5.47%
• 1Y: 10.11%
• 3Y*: 12.27%
• 5Y*: 5.39%
• 10Y*: —

ARBIX

• 1D: 0.00%
• 1M: -0.43%
• YTD: 1.39%
• 6M: 3.10%
• 1Y: 7.59%
• 3Y*: 7.06%
• 5Y*: 4.69%
• 10Y*: —

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

TFAFX vs. ARBIX - Expense Ratio Comparison

TFAFX has a 1.96% expense ratio, which is higher than ARBIX's 1.47% expense ratio.

TFAFX

Tactical Growth Allocation Fund

ARBIX

Absolute Convertible Arbitrage Fund Institutional Shares

Return for Risk

TFAFX vs. ARBIX — Risk / Return Rank

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

TFAFX

TFAFX Risk / Return Rank: 28
TFAFX Sharpe Ratio Rank: 28
TFAFX Sortino Ratio Rank: 25
TFAFX Omega Ratio Rank: 29
TFAFX Calmar Ratio Rank: 30
TFAFX Martin Ratio Rank: 29

ARBIX

ARBIX Risk / Return Rank: 100
ARBIX Sharpe Ratio Rank: 100
ARBIX Sortino Ratio Rank: 100
ARBIX Omega Ratio Rank: 99
ARBIX Calmar Ratio Rank: 100
ARBIX Martin Ratio Rank: 100

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.

TFAFX vs. ARBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tactical Growth Allocation Fund (TFAFX) and Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX). 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.

	TFAFX	ARBIX	Difference
Sharpe ratio Return per unit of total volatility	0.67	5.98	-5.30
Sortino ratio Return per unit of downside risk	0.98	10.76	-9.78
Omega ratio Gain probability vs. loss probability	1.15	2.92	-1.76
Calmar ratio Return relative to maximum drawdown	0.86	14.65	-13.78
Martin ratio Return relative to average drawdown	3.19	68.71	-65.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TFAFX vs. ARBIX - Sharpe Ratio Comparison

The current TFAFX Sharpe Ratio is 0.67, which is lower than the ARBIX Sharpe Ratio of 5.98. The chart below compares the historical Sharpe Ratios of TFAFX and ARBIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TFAFX	ARBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.67	5.98	-5.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	2.58	-2.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.10	+0.31

Correlation

The correlation between TFAFX and ARBIX is 0.40, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TFAFX vs. ARBIX - Dividend Comparison

TFAFX has not paid dividends to shareholders, while ARBIX's dividend yield for the trailing twelve months is around 5.27%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TFAFX Tactical Growth Allocation Fund	0.00%	0.00%	0.00%	0.20%	3.71%	12.30%	4.64%	0.13%	0.00%	0.00%
ARBIX Absolute Convertible Arbitrage Fund Institutional Shares	5.27%	5.34%	4.87%	3.62%	3.33%	3.12%	2.92%	2.83%	1.97%	0.24%

Drawdowns

TFAFX vs. ARBIX - Drawdown Comparison

The maximum TFAFX drawdown since its inception was -25.67%, which is greater than ARBIX's maximum drawdown of -4.31%. Use the drawdown chart below to compare losses from any high point for TFAFX and ARBIX.

Drawdown Indicators

	TFAFX	ARBIX	Difference
Max Drawdown Largest peak-to-trough decline	-25.67%	-4.31%	-21.36%
Max Drawdown (1Y) Largest decline over 1 year	-9.95%	-0.51%	-9.44%
Max Drawdown (5Y) Largest decline over 5 years	-25.67%	-4.02%	-21.65%
Current Drawdown Current decline from peak	-9.30%	-0.51%	-8.79%
Average Drawdown Average peak-to-trough decline	-7.47%	-0.40%	-7.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	0.11%	+3.00%

Volatility

TFAFX vs. ARBIX - Volatility Comparison

Tactical Growth Allocation Fund (TFAFX) has a higher volatility of 4.64% compared to Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX) at 0.39%. This indicates that TFAFX's price experiences larger fluctuations and is considered to be riskier than ARBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TFAFX	ARBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.64%	0.39%	+4.25%
Volatility (6M) Calculated over the trailing 6-month period	10.19%	0.87%	+9.32%
Volatility (1Y) Calculated over the trailing 1-year period	17.65%	1.26%	+16.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.76%	1.83%	+12.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.48%	746.10%	-731.62%