TUIFX vs. WAVLX
TUIFX (Toews Unconstrained Income Fund) and WAVLX (Wavelength Fund) are both Nontraditional Bonds funds. Over the past 10 years, TUIFX returned 1.62%/yr vs 3.82%/yr for WAVLX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. TUIFX charges 1.25%/yr vs 0.99%/yr for WAVLX.
Performance
TUIFX vs. WAVLX - Performance Comparison
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Returns By Period
In the year-to-date period, TUIFX achieves a 0.17% return, which is significantly lower than WAVLX's 1.96% return. Over the past 10 years, TUIFX has underperformed WAVLX with an annualized return of 1.62%, while WAVLX has yielded a comparatively higher 3.82% annualized return.
TUIFX
- 1D
- -0.05%
- 1M
- -0.49%
- 6M
- -0.27%
- YTD
- 0.17%
- 1Y
- 1.74%
- 3Y*
- 3.58%
- 5Y*
- 0.97%
- 10Y*
- 1.62%
- ALL TIME*
- 1.90%
WAVLX
- 1D
- 0.50%
- 1M
- -0.49%
- 6M
- 0.71%
- YTD
- 1.96%
- 1Y
- 6.43%
- 3Y*
- 6.90%
- 5Y*
- 2.28%
- 10Y*
- 3.82%
- ALL TIME*
- 3.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
WAVLX Wavelength Fund | $0.00 | $0.00 | $0.00 |
TUIFX vs. WAVLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TUIFX Toews Unconstrained Income Fund | 0.17% | 3.55% | 4.53% | 3.08% | -4.36% | -0.20% | 2.58% | 6.97% | -2.82% | 2.10% |
WAVLX Wavelength Fund | 1.96% | 9.86% | 5.21% | 7.02% | -11.34% | 1.72% | 8.29% | 13.07% | -1.46% | 5.59% |
Correlation
The correlation between TUIFX and WAVLX is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.68 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.64 |
The correlation between TUIFX and WAVLX shifts across timeframes, from 0.64 (all time) to 0.77 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TUIFX vs. WAVLX — Risk / Return Rank
TUIFX
WAVLX
TUIFX vs. WAVLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Toews Unconstrained Income Fund (TUIFX) and Wavelength Fund (WAVLX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TUIFX | WAVLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.29 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 2.22 | +0.17 |
| Martin ratioReturn relative to average drawdown | 5.09 | 8.41 | -3.32 |
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Drawdowns
TUIFX vs. WAVLX - Drawdown Comparison
The maximum TUIFX drawdown since its inception was -7.37%, smaller than the maximum WAVLX drawdown of -14.39%. Use the drawdown chart below to compare losses from any high point for TUIFX and WAVLX.
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Drawdown Indicators
| TUIFX | WAVLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.37% | -14.39% | +7.02% |
Max Drawdown (1Y)Largest decline over 1 year | -0.87% | -3.03% | +2.16% |
Max Drawdown (3Y)Largest decline over 3 years | -1.64% | -5.33% | +3.69% |
Max Drawdown (5Y)Largest decline over 5 years | -7.37% | -14.39% | +7.02% |
Max Drawdown (10Y)Largest decline over 10 years | -7.37% | -14.39% | +7.02% |
Current DrawdownCurrent decline from peak | -0.70% | -1.41% | +0.71% |
Average DrawdownAverage peak-to-trough decline | -2.05% | -2.96% | +0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 0.80% | -0.39% |
Volatility
TUIFX vs. WAVLX - Volatility Comparison
The current volatility for Toews Unconstrained Income Fund (TUIFX) is 0.51%, while Wavelength Fund (WAVLX) has a volatility of 1.15%. This indicates that TUIFX experiences smaller price fluctuations and is considered to be less risky than WAVLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TUIFX | WAVLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 1.15% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 1.42% | 3.48% | -2.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.06% | 4.36% | -2.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.63% | 5.63% | -3.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.66% | 5.31% | -2.65% |
TUIFX vs. WAVLX - Expense Ratio Comparison
TUIFX has a 1.25% expense ratio, which is higher than WAVLX's 0.99% expense ratio.
Dividends
TUIFX vs. WAVLX - Dividend Comparison
TUIFX's dividend yield for the trailing twelve months is around 4.10%, more than WAVLX's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TUIFX Toews Unconstrained Income Fund | 4.10% | 4.17% | 4.68% | 4.09% | 1.05% | 2.13% | 1.33% | 2.44% | 2.05% | 4.34% | 2.29% | 1.19% |
WAVLX Wavelength Fund | 3.55% | 3.67% | 4.41% | 4.83% | 3.63% | 2.83% | 2.21% | 4.96% | 2.65% | 2.09% | 2.13% | 2.18% |
Frequently Asked Questions
TUIFX and WAVLX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WAVLX has higher volatility (1.15%) compared to TUIFX (0.51%). In terms of maximum drawdown, TUIFX dropped -7.37% vs WAVLX's -14.39%.
WAVLX currently has the higher Sharpe Ratio (1.54 vs 1.02), 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.
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