WAVLX vs. BTFAX
WAVLX (Wavelength Fund) and BTFAX (BTS Tactical Fixed Income Fund) are both Nontraditional Bonds funds. Over the past 10 years, WAVLX returned 3.82%/yr vs -0.37%/yr for BTFAX. Their 0.56 correlation means they have sometimes moved together and sometimes differently. WAVLX charges 0.99%/yr vs 1.65%/yr for BTFAX.
Performance
WAVLX vs. BTFAX - Performance Comparison
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Returns By Period
In the year-to-date period, WAVLX achieves a 1.96% return, which is significantly higher than BTFAX's -1.41% return. Over the past 10 years, WAVLX has outperformed BTFAX with an annualized return of 3.82%, while BTFAX has yielded a comparatively lower -0.37% annualized return.
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%
BTFAX
- 1D
- 0.27%
- 1M
- -0.53%
- 6M
- -1.92%
- YTD
- -1.41%
- 1Y
- 1.13%
- 3Y*
- 2.21%
- 5Y*
- -1.87%
- 10Y*
- -0.37%
- ALL TIME*
- 0.42%
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 |
WAVLX vs. BTFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WAVLX Wavelength Fund | 1.96% | 9.86% | 5.21% | 7.02% | -11.34% | 1.72% | 8.29% | 13.07% | -1.46% | 5.59% |
BTFAX BTS Tactical Fixed Income Fund | -1.41% | 2.96% | 3.52% | 2.12% | -12.82% | -2.18% | 1.43% | 4.30% | -6.53% | 2.86% |
Correlation
The correlation between WAVLX and BTFAX is 0.65, 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. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.71 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Oct 3, 2013 | 0.56 |
The correlation between WAVLX and BTFAX shifts across timeframes, from 0.56 (all time) to 0.77 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
WAVLX vs. BTFAX — Risk / Return Rank
WAVLX
BTFAX
WAVLX vs. BTFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Wavelength Fund (WAVLX) and BTS Tactical Fixed Income Fund (BTFAX). 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.
| WAVLX | BTFAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.06 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 0.35 | +1.87 |
| Martin ratioReturn relative to average drawdown | 8.41 | 0.69 | +7.72 |
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Drawdowns
WAVLX vs. BTFAX - Drawdown Comparison
The maximum WAVLX drawdown since its inception was -14.39%, smaller than the maximum BTFAX drawdown of -19.78%. Use the drawdown chart below to compare losses from any high point for WAVLX and BTFAX.
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Drawdown Indicators
| WAVLX | BTFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.39% | -19.78% | +5.39% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -2.84% | -0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -5.33% | -4.89% | -0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -14.39% | -18.07% | +3.68% |
Max Drawdown (10Y)Largest decline over 10 years | -14.39% | -19.78% | +5.39% |
Current DrawdownCurrent decline from peak | -1.41% | -11.17% | +9.76% |
Average DrawdownAverage peak-to-trough decline | -2.96% | -6.32% | +3.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 1.44% | -0.64% |
Volatility
WAVLX vs. BTFAX - Volatility Comparison
Wavelength Fund (WAVLX) has a higher volatility of 1.15% compared to BTS Tactical Fixed Income Fund (BTFAX) at 0.78%. This indicates that WAVLX's price experiences larger fluctuations and is considered to be riskier than BTFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WAVLX | BTFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 0.78% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 3.48% | 2.28% | +1.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.36% | 3.47% | +0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.63% | 5.45% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.31% | 4.84% | +0.47% |
WAVLX vs. BTFAX - Expense Ratio Comparison
WAVLX has a 0.99% expense ratio, which is lower than BTFAX's 1.65% expense ratio.
Dividends
WAVLX vs. BTFAX - Dividend Comparison
WAVLX's dividend yield for the trailing twelve months is around 3.55%, less than BTFAX's 3.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTFAX BTS Tactical Fixed Income Fund | 3.87% | 4.39% | 2.71% | 3.52% | 2.11% | 1.69% | 0.68% | 3.17% | 3.38% | 2.67% | 4.89% | 0.87% |
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
WAVLX and BTFAX have a correlation of 0.65, 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 BTFAX (0.78%). In terms of maximum drawdown, WAVLX dropped -14.39% vs BTFAX's -19.78%.
WAVLX currently has the higher Sharpe Ratio (1.54 vs 0.29), 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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