TFAFX vs. TFAQX

Last updated Jun 3, 2026

TFAFX (Tactical Growth Allocation Fund) and TFAQX (TFA Quantitative Fund) are both mutual funds - TFAFX is a Multistrategy fund managed by Tactical Fund Advisors, while TFAQX is a Tactical Allocation fund managed by Tactical Fund Advisors. Over the past 5 years, TFAFX returned 7.59%/yr vs 8.28%/yr for TFAQX. Their correlation of 0.94 suggests significant overlap in exposure. TFAFX charges 1.96%/yr vs 1.98%/yr for TFAQX.

Performance

TFAFX vs. TFAQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tactical Growth Allocation Fund (TFAFX) and TFA Quantitative Fund (TFAQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TFAFX achieves a 7.80% return, which is significantly lower than TFAQX's 9.74% return.

TFAFX

• 1D: 0.14%
• 1M: 4.49%
• YTD: 7.80%
• 6M: 7.38%
• 1Y: 22.67%
• 3Y*: 16.00%
• 5Y*: 7.59%
• 10Y*: —

TFAQX

• 1D: 0.57%
• 1M: 8.12%
• YTD: 9.74%
• 6M: 8.89%
• 1Y: 27.29%
• 3Y*: 17.39%
• 5Y*: 8.28%
• 10Y*: —

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

TFAFX vs. TFAQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TFAFX Tactical Growth Allocation Fund	7.80%	11.54%	20.19%	19.64%	-24.11%	16.14%	15.81%
TFAQX TFA Quantitative Fund	9.74%	11.41%	22.12%	23.25%	-25.11%	10.88%	18.19%

Correlation

The correlation between TFAFX and TFAQX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since May 19, 2020	0.94

The correlation between TFAFX and TFAQX has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.

Return for Risk

TFAFX vs. TFAQX — Risk / Return Rank

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

TFAFX

TFAFX Risk / Return Rank: 43
TFAFX Sharpe Ratio Rank: 41
TFAFX Sortino Ratio Rank: 36
TFAFX Omega Ratio Rank: 39
TFAFX Calmar Ratio Rank: 50
TFAFX Martin Ratio Rank: 49

TFAQX

TFAQX Risk / Return Rank: 38
TFAQX Sharpe Ratio Rank: 42
TFAQX Sortino Ratio Rank: 35
TFAQX Omega Ratio Rank: 40
TFAQX Calmar Ratio Rank: 38
TFAQX Martin Ratio Rank: 37

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. TFAQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tactical Growth Allocation Fund (TFAFX) and TFA Quantitative Fund (TFAQX). 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	TFAQX	Difference
Sharpe ratio Return per unit of total volatility	1.88	1.89	-0.01
Sortino ratio Return per unit of downside risk	2.49	2.47	+0.02
Omega ratio Gain probability vs. loss probability	1.33	1.34	0.00
Calmar ratio Return relative to maximum drawdown	2.70	2.35	+0.35
Martin ratio Return relative to average drawdown	10.15	8.12	+2.03
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. TFAQX - Sharpe Ratio Comparison

The current TFAFX Sharpe Ratio is 1.88, which is comparable to the TFAQX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of TFAFX and TFAQX, 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

	TFAFX	TFAQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.89	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.48	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.60	-0.04

Drawdowns

TFAFX vs. TFAQX - Drawdown Comparison

The maximum TFAFX drawdown since its inception was -25.67%, smaller than the maximum TFAQX drawdown of -27.78%. Use the drawdown chart below to compare losses from any high point for TFAFX and TFAQX.

Drawdown Indicators

	TFAFX	TFAQX	Difference
Max Drawdown Largest peak-to-trough decline	-25.67%	-27.78%	+2.11%
Max Drawdown (1Y) Largest decline over 1 year	-9.30%	-12.85%	+3.55%
Max Drawdown (3Y) Largest decline over 3 years	-17.55%	-21.59%	+4.04%
Max Drawdown (5Y) Largest decline over 5 years	-25.67%	-27.78%	+2.11%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.33%	-8.50%	+1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.47%	3.72%	-1.25%

Volatility

TFAFX vs. TFAQX - Volatility Comparison

The current volatility for Tactical Growth Allocation Fund (TFAFX) is 3.08%, while TFA Quantitative Fund (TFAQX) has a volatility of 3.92%. This indicates that TFAFX experiences smaller price fluctuations and is considered to be less risky than TFAQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TFAFX	TFAQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.08%	3.92%	-0.84%
Volatility (6M) Calculated over the trailing 6-month period	9.06%	11.05%	-1.99%
Volatility (1Y) Calculated over the trailing 1-year period	12.47%	14.98%	-2.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.79%	17.39%	-2.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.41%	17.30%	-2.89%

TFAFX vs. TFAQX - Expense Ratio Comparison

TFAFX has a 1.96% expense ratio, which is lower than TFAQX's 1.98% expense ratio.

Dividends

TFAFX vs. TFAQX - Dividend Comparison

TFAFX has not paid dividends to shareholders, while TFAQX's dividend yield for the trailing twelve months is around 9.26%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
TFAFX Tactical Growth Allocation Fund	0.00%	0.00%	0.00%	0.20%	3.71%	12.30%	4.64%	0.13%
TFAQX TFA Quantitative Fund	9.26%	10.16%	0.00%	0.03%	5.06%	20.52%	4.62%	0.00%

Frequently Asked Questions

Can I hold both TFAFX and TFAQX in my portfolio?

With a correlation of 0.98, TFAFX and TFAQX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, TFAFX or TFAQX?

TFAQX has higher volatility (3.92%) compared to TFAFX (3.08%). In terms of maximum drawdown, TFAFX dropped -25.67% vs TFAQX's -27.78%.

Which has better risk-adjusted returns?

TFAQX currently has the higher Sharpe Ratio (1.89 vs 1.88), 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.