TTDAX vs. SAOAX

Last updated Jun 4, 2026

TTDAX (Toews Tactical Defensive Alpha Fund) and SAOAX (Guggenheim Alpha Opportunity Fund) are both Long-Short funds. At a 0.40 correlation, their price movements are largely independent. TTDAX charges 1.25%/yr vs 1.76%/yr for SAOAX.

Performance

TTDAX vs. SAOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Toews Tactical Defensive Alpha Fund (TTDAX) and Guggenheim Alpha Opportunity Fund (SAOAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TTDAX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SAOAX

• 1D: 0.92%
• 1M: 4.52%
• YTD: 18.07%
• 6M: 19.57%
• 1Y: 18.29%
• 3Y*: 10.13%
• 5Y*: 6.32%
• 10Y*: 3.89%

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

TTDAX vs. SAOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TTDAX Toews Tactical Defensive Alpha Fund	-5.84%	10.90%	2.87%	7.65%	-16.61%	12.36%	17.14%	22.12%	-7.35%	14.90%
SAOAX Guggenheim Alpha Opportunity Fund	18.07%	-2.00%	10.49%	8.81%	-8.66%	14.38%	0.17%	-2.26%	-11.25%	6.70%

Correlation

The correlation between TTDAX and SAOAX is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.40

The correlation between TTDAX and SAOAX shifts across timeframes, from 0.28 (3 years) to 0.40 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TTDAX vs. SAOAX — Risk / Return Rank

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

SAOAX

SAOAX Risk / Return Rank: 58
SAOAX Sharpe Ratio Rank: 52
SAOAX Sortino Ratio Rank: 55
SAOAX Omega Ratio Rank: 49
SAOAX Calmar Ratio Rank: 86
SAOAX Martin Ratio Rank: 49

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.

TTDAX vs. SAOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Toews Tactical Defensive Alpha Fund (TTDAX) and Guggenheim Alpha Opportunity Fund (SAOAX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TTDAX	SAOAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.12	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.22	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.31	—

Drawdowns

Drawdown Indicators

	TTDAX	SAOAX	Difference
Max Drawdown Largest peak-to-trough decline	—	-52.28%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-4.45%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-35.90%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.90%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-8.70%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.82%	—

Volatility

Volatility by Period

	TTDAX	SAOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	8.71%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	28.70%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	21.16%	—

TTDAX vs. SAOAX - Expense Ratio Comparison

TTDAX has a 1.25% expense ratio, which is lower than SAOAX's 1.76% expense ratio.

Dividends

TTDAX vs. SAOAX - Dividend Comparison

TTDAX's dividend yield for the trailing twelve months is around 2.20%, more than SAOAX's 0.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SAOAX Guggenheim Alpha Opportunity Fund	0.61%	0.71%	1.06%	0.62%	0.72%	0.82%	1.22%	0.92%	1.17%	7.07%	0.03%
TTDAX Toews Tactical Defensive Alpha Fund	2.20%	2.07%	3.30%	2.56%	1.03%	26.63%	4.08%	7.49%	1.35%	13.58%	0.00%

Frequently Asked Questions

Can I hold both TTDAX and SAOAX in my portfolio?

TTDAX and SAOAX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.