UPAAX vs. HSTRX

Last updated Jul 17, 2026

UPAAX (Upright Assets Allocation Plus Fund) and HSTRX (Hussman Strategic Total Return Fund) are both Tactical Allocation funds. At a 0.31 correlation, their price movements are largely independent. UPAAX charges 2.49%/yr vs 0.75%/yr for HSTRX.

Performance

UPAAX vs. HSTRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Upright Assets Allocation Plus Fund (UPAAX) and Hussman Strategic Total Return Fund (HSTRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

UPAAX

• 1D: -0.13%
• 1M: -2.16%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HSTRX

• 1D: 0.12%
• 1M: -0.95%
• 6M: 0.94%
• YTD: 3.15%
• 1Y: 13.41%
• 3Y*: 10.69%
• 5Y*: 5.57%
• 10Y*: 4.93%

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

UPAAX vs. HSTRX - Yearly Performance Comparison

	2026 (YTD)
UPAAX Upright Assets Allocation Plus Fund	-6.67%
HSTRX Hussman Strategic Total Return Fund	-0.61%

Correlation

The correlation between UPAAX and HSTRX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.31

Return for Risk

UPAAX vs. HSTRX — Risk / Return Rank

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

UPAAX

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

HSTRX

HSTRX Risk / Return Rank: 94
HSTRX Sharpe Ratio Rank: 97
HSTRX Sortino Ratio Rank: 96
HSTRX Omega Ratio Rank: 93
HSTRX Calmar Ratio Rank: 97
HSTRX Martin Ratio Rank: 89

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.

UPAAX vs. HSTRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Upright Assets Allocation Plus Fund (UPAAX) and Hussman Strategic Total Return Fund (HSTRX). 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.

	UPAAX	HSTRX	Difference
Sharpe ratio: Return per unit of total volatility	—	3.01	—
Sortino ratio: Return per unit of downside risk	—	4.62	—
Omega ratio: Gain probability vs. loss probability	—	1.62	—
Calmar ratio: Return relative to maximum drawdown	—	5.58	—
Martin ratio: Return relative to average drawdown	—	13.24	—

Drawdowns

UPAAX vs. HSTRX - Drawdown Comparison

The maximum UPAAX drawdown since its inception was -10.95%, smaller than the maximum HSTRX drawdown of -13.53%. Use the drawdown chart below to compare losses from any high point for UPAAX and HSTRX.

Drawdown Indicators

	UPAAX	HSTRX	Difference
Max Drawdown Largest peak-to-trough decline	-10.95%	-13.53%	+2.58%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.48%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.53%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-13.53%	—
Current Drawdown Current decline from peak	-10.15%	-2.02%	-8.13%
Average Drawdown Average peak-to-trough decline	-7.10%	-2.68%	-4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.04%	—

Volatility

Volatility by Period

	UPAAX	HSTRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.97%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.49%	—
Volatility (1Y) Calculated over the trailing 1-year period	29.54%	4.66%	+24.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.54%	6.42%	+23.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.54%	5.90%	+23.64%

UPAAX vs. HSTRX - Expense Ratio Comparison

UPAAX has a 2.49% expense ratio, which is higher than HSTRX's 0.75% expense ratio.

Dividends

UPAAX vs. HSTRX - Dividend Comparison

UPAAX has not paid dividends to shareholders, while HSTRX's dividend yield for the trailing twelve months is around 3.14%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HSTRX Hussman Strategic Total Return Fund	3.14%	2.25%	2.91%	2.54%	2.15%	1.33%	0.52%	1.29%	1.20%	0.37%	0.25%	0.42%
UPAAX Upright Assets Allocation Plus Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UPAAX and HSTRX in my portfolio?

UPAAX and HSTRX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.