WAVLX vs. RISR
WAVLX (Wavelength Interest Rate Neutral Fund) and RISR (FolioBeyond Alternative Income and Interest Rate Hedge ETF) are both Nontraditional Bonds funds. Over the past 3 years, WAVLX returned 7.53%/yr vs 11.10%/yr for RISR. At a correlation of -0.39, they often move in opposite directions. WAVLX charges 0.99%/yr vs 1.13%/yr for RISR.
Performance
WAVLX vs. RISR - Performance Comparison
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Returns By Period
In the year-to-date period, WAVLX achieves a 2.83% return, which is significantly higher than RISR's 2.50% return.
WAVLX
- 1D
- -0.29%
- 1M
- 0.32%
- YTD
- 2.83%
- 6M
- 2.77%
- 1Y
- 9.09%
- 3Y*
- 7.53%
- 5Y*
- 2.69%
- 10Y*
- 4.19%
RISR
- 1D
- -0.48%
- 1M
- -0.47%
- YTD
- 2.50%
- 6M
- 2.49%
- 1Y
- 4.15%
- 3Y*
- 11.10%
- 5Y*
- —
- 10Y*
- —
WAVLX vs. RISR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WAVLX Wavelength Interest Rate Neutral Fund | 2.83% | 9.86% | 5.21% | 7.02% | -11.34% | 1.09% |
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF | 2.50% | 4.63% | 24.20% | 7.02% | 31.98% | -0.04% |
Correlation
The correlation between WAVLX and RISR is -0.37, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.40 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021 | -0.39 |
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Return for Risk
WAVLX vs. RISR — Risk / Return Rank
WAVLX
RISR
WAVLX vs. RISR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Wavelength Interest Rate Neutral Fund (WAVLX) and FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR). 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 | RISR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.39 | ||
| Sortino ratioReturn per unit of downside risk | +2.02 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.14 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | 1.60 | +1.53 |
| Martin ratioReturn relative to average drawdown | 13.29 | 3.78 | +9.51 |
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Drawdowns
WAVLX vs. RISR - Drawdown Comparison
The maximum WAVLX drawdown since its inception was -14.39%, roughly equal to the maximum RISR drawdown of -14.31%. Use the drawdown chart below to compare losses from any high point for WAVLX and RISR.
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Drawdown Indicators
| WAVLX | RISR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.39% | -14.31% | -0.08% |
Max Drawdown (1Y)Largest decline over 1 year | -3.03% | -2.61% | -0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -5.33% | -8.07% | +2.74% |
Max Drawdown (5Y)Largest decline over 5 years | -14.39% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.39% | — | — |
Current DrawdownCurrent decline from peak | -0.58% | -0.98% | +0.40% |
Average DrawdownAverage peak-to-trough decline | -2.97% | -2.17% | -0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 1.10% | -0.39% |
Volatility
WAVLX vs. RISR - Volatility Comparison
Wavelength Interest Rate Neutral Fund (WAVLX) has a higher volatility of 1.52% compared to FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) at 1.31%. This indicates that WAVLX's price experiences larger fluctuations and is considered to be riskier than RISR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WAVLX | RISR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.52% | 1.31% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 3.39% | 3.98% | -0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 5.42% | -1.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.61% | 11.79% | -6.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.32% | 11.79% | -6.47% |
WAVLX vs. RISR - Expense Ratio Comparison
WAVLX has a 0.99% expense ratio, which is lower than RISR's 1.13% expense ratio.
Dividends
WAVLX vs. RISR - Dividend Comparison
WAVLX's dividend yield for the trailing twelve months is around 4.34%, less than RISR's 5.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF | 5.95% | 5.95% | 5.67% | 7.96% | 4.26% | 0.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WAVLX Wavelength Interest Rate Neutral Fund | 4.34% | 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 RISR have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WAVLX has higher volatility (1.52%) compared to RISR (1.31%). In terms of maximum drawdown, WAVLX dropped -14.39% vs RISR's -14.31%.
WAVLX currently has the higher Sharpe Ratio (2.16 vs 0.77), 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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