TMNIX vs. CPITX

Last updated Jun 4, 2026

TMNIX (Counterpoint Tactical Municipal Fund) and CPITX (Counterpoint Tactical Income Fund) are both mutual funds - TMNIX is a High Yield Muni fund managed by Counterpoint Mutual Funds, while CPITX is a Nontraditional Bonds fund managed by Counterpoint Mutual Funds. Over the past 5 years, TMNIX returned 2.27%/yr vs 3.68%/yr for CPITX. At a 0.14 correlation, their price movements are largely independent. TMNIX charges 1.00%/yr vs 1.46%/yr for CPITX.

Performance

TMNIX vs. CPITX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Counterpoint Tactical Municipal Fund (TMNIX) 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, TMNIX achieves a 1.46% return, which is significantly higher than CPITX's -0.42% return.

TMNIX

• 1D: 0.19%
• 1M: 0.92%
• YTD: 1.46%
• 6M: 1.59%
• 1Y: 5.86%
• 3Y*: 4.13%
• 5Y*: 2.27%
• 10Y*: —

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)

TMNIX vs. CPITX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TMNIX Counterpoint Tactical Municipal Fund	1.46%	2.56%	3.92%	6.85%	-3.12%	2.96%	6.73%	8.70%	0.12%
CPITX Counterpoint Tactical Income Fund	-0.42%	4.58%	6.76%	9.81%	-2.40%	2.53%	8.47%	9.85%	-1.16%

Correlation

The correlation between TMNIX and CPITX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018	0.14

Return for Risk

TMNIX vs. CPITX — Risk / Return Rank

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

TMNIX

TMNIX Risk / Return Rank: 58
TMNIX Sharpe Ratio Rank: 60
TMNIX Sortino Ratio Rank: 67
TMNIX Omega Ratio Rank: 87
TMNIX Calmar Ratio Rank: 45
TMNIX Martin Ratio Rank: 31

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.

TMNIX vs. CPITX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Counterpoint Tactical Municipal Fund (TMNIX) 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.

	TMNIX	CPITX	Difference
Sharpe ratio: Return per unit of total volatility	2.28	1.79	+0.50
Sortino ratio: Return per unit of downside risk	3.43	2.64	+0.79
Omega ratio: Gain probability vs. loss probability	1.60	1.36	+0.25
Calmar ratio: Return relative to maximum drawdown	2.56	2.29	+0.27
Martin ratio: Return relative to average drawdown	7.13	6.21	+0.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TMNIX vs. CPITX - Sharpe Ratio Comparison

The current TMNIX Sharpe Ratio is 2.28, which is comparable to the CPITX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of TMNIX 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

	TMNIX	CPITX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	1.79	+0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	1.34	-0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.40	1.66	-0.26

Drawdowns

TMNIX vs. CPITX - Drawdown Comparison

The maximum TMNIX drawdown since its inception was -4.63%, roughly equal to the maximum CPITX drawdown of -4.59%. Use the drawdown chart below to compare losses from any high point for TMNIX and CPITX.

Drawdown Indicators

	TMNIX	CPITX	Difference
Max Drawdown Largest peak-to-trough decline	-4.63%	-4.59%	-0.04%
Max Drawdown (1Y) Largest decline over 1 year	-2.26%	-1.99%	-0.27%
Max Drawdown (3Y) Largest decline over 3 years	-4.61%	-3.80%	-0.81%
Max Drawdown (5Y) Largest decline over 5 years	-4.63%	-4.59%	-0.04%
Max Drawdown (10Y) Largest decline over 10 years	—	-4.59%	—
Current Drawdown Current decline from peak	-0.52%	-0.97%	+0.45%
Average Drawdown Average peak-to-trough decline	-1.48%	-0.95%	-0.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	0.73%	+0.08%

Volatility

TMNIX vs. CPITX - Volatility Comparison

Counterpoint Tactical Municipal Fund (TMNIX) has a higher volatility of 1.09% compared to Counterpoint Tactical Income Fund (CPITX) at 0.79%. This indicates that TMNIX'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

	TMNIX	CPITX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.09%	0.79%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	1.99%	1.80%	+0.19%
Volatility (1Y) Calculated over the trailing 1-year period	2.53%	2.54%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.04%	2.77%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.69%	2.99%	-0.30%

TMNIX vs. CPITX - Expense Ratio Comparison

TMNIX has a 1.00% expense ratio, which is lower than CPITX's 1.46% expense ratio.

Dividends

TMNIX vs. CPITX - Dividend Comparison

TMNIX's dividend yield for the trailing twelve months is around 3.13%, 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%
TMNIX Counterpoint Tactical Municipal Fund	3.13%	2.79%	3.31%	3.40%	0.36%	4.39%	2.36%	3.69%	1.10%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMNIX and CPITX in my portfolio?

TMNIX and CPITX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMNIX or CPITX?

TMNIX has higher volatility (1.09%) compared to CPITX (0.79%). In terms of maximum drawdown, TMNIX dropped -4.63% vs CPITX's -4.59%.

Which has better risk-adjusted returns?

TMNIX currently has the higher Sharpe Ratio (2.28 vs 1.79), 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.