PortfoliosLab logo
Tools
Performance Analysis
Risk Analysis
Optimization
Factor Model
See All Tools
Portfolio Analysis
Portfolios
Lazy PortfoliosUser Portfolios
Discussions
Water Island Credit Opportunities Fund (ACFIX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Fund Info

ISINUS03875R8097
CUSIP03875R809
IssuerArbitrage Fund
Inception DateSep 30, 2012
CategoryNontraditional Bonds
Min. Investment$100,000
Asset ClassBond

Expense Ratio

ACFIX has a high expense ratio of 0.98%, indicating higher-than-average management fees.


Expense ratio chart for ACFIX: current value at 0.98% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.98%

Share Price Chart


Loading data...

Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Water Island Credit Opportunities Fund

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in Water Island Credit Opportunities Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.


50.00%100.00%150.00%200.00%250.00%300.00%FebruaryMarchAprilMayJuneJuly
44.30%
286.61%
ACFIX (Water Island Credit Opportunities Fund)
Benchmark (^GSPC)

S&P 500

Returns By Period

Water Island Credit Opportunities Fund had a return of 2.57% year-to-date (YTD) and 5.95% in the last 12 months. Over the past 10 years, Water Island Credit Opportunities Fund had an annualized return of 2.86%, while the S&P 500 had an annualized return of 10.96%, indicating that Water Island Credit Opportunities Fund did not perform as well as the benchmark.


PeriodReturnBenchmark
Year-To-Date2.57%17.08%
1 month0.62%3.89%
6 months2.67%16.83%
1 year5.95%24.87%
5 years (annualized)3.84%13.16%
10 years (annualized)2.86%10.96%

Monthly Returns

The table below presents the monthly returns of ACFIX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20240.31%0.53%-0.03%0.28%0.62%0.73%2.57%
20231.77%0.60%0.07%0.61%-0.24%1.12%-0.24%0.92%0.41%-0.21%1.21%1.17%7.41%
2022-0.53%0.00%-0.25%-1.28%-0.88%-2.52%1.88%0.34%-0.46%0.85%0.87%-0.71%-2.70%
20210.34%0.73%0.12%0.66%-0.03%0.26%-0.03%0.28%0.05%0.35%-0.02%0.54%3.29%
20200.30%0.05%-5.86%2.33%3.74%1.56%1.15%1.09%0.04%0.42%1.35%0.63%6.71%
20191.39%0.60%0.38%0.49%0.18%0.48%0.21%0.40%0.17%0.20%0.41%0.65%5.68%
20180.80%0.59%0.14%0.21%0.44%-0.01%0.01%0.46%0.03%-0.49%0.32%-0.64%1.84%
20170.00%0.10%-0.76%0.54%0.16%0.80%0.09%-0.06%0.24%0.49%-0.81%0.64%1.43%
2016-0.10%1.05%0.41%-0.10%0.94%0.06%0.52%0.83%0.63%-0.41%0.61%0.47%5.00%
20150.41%0.20%0.19%0.00%0.10%-0.15%-0.10%-0.61%-0.74%0.42%-0.31%-0.37%-0.98%
20140.30%0.20%0.93%0.39%0.39%0.26%0.10%0.20%-0.20%-0.40%0.30%-0.99%1.47%
20130.20%0.20%0.44%0.80%0.69%-0.86%1.31%0.30%0.97%1.09%0.49%0.12%5.90%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current risk-adjusted rank of ACFIX is 96, placing it in the top 4% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.


The Risk-Adjusted Performance Rank of ACFIX is 9696
ACFIX (Water Island Credit Opportunities Fund)
The Sharpe Ratio Rank of ACFIX is 9494Sharpe Ratio Rank
The Sortino Ratio Rank of ACFIX is 9696Sortino Ratio Rank
The Omega Ratio Rank of ACFIX is 9696Omega Ratio Rank
The Calmar Ratio Rank of ACFIX is 9797Calmar Ratio Rank
The Martin Ratio Rank of ACFIX is 9696Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Water Island Credit Opportunities Fund (ACFIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


ACFIX
Sharpe ratio
The chart of Sharpe ratio for ACFIX, currently valued at 2.94, compared to the broader market-1.000.001.002.003.004.005.002.94
Sortino ratio
The chart of Sortino ratio for ACFIX, currently valued at 5.93, compared to the broader market0.005.0010.005.93
Omega ratio
The chart of Omega ratio for ACFIX, currently valued at 1.98, compared to the broader market1.002.003.004.001.98
Calmar ratio
The chart of Calmar ratio for ACFIX, currently valued at 7.24, compared to the broader market0.005.0010.0015.0020.007.24
Martin ratio
The chart of Martin ratio for ACFIX, currently valued at 23.93, compared to the broader market0.0020.0040.0060.0080.00100.0023.93
^GSPC
Sharpe ratio
The chart of Sharpe ratio for ^GSPC, currently valued at 2.31, compared to the broader market-1.000.001.002.003.004.005.002.31
Sortino ratio
The chart of Sortino ratio for ^GSPC, currently valued at 3.24, compared to the broader market0.005.0010.003.24
Omega ratio
The chart of Omega ratio for ^GSPC, currently valued at 1.41, compared to the broader market1.002.003.004.001.41
Calmar ratio
The chart of Calmar ratio for ^GSPC, currently valued at 1.82, compared to the broader market0.005.0010.0015.0020.001.82
Martin ratio
The chart of Martin ratio for ^GSPC, currently valued at 8.58, compared to the broader market0.0020.0040.0060.0080.00100.008.58

Sharpe Ratio

The current Water Island Credit Opportunities Fund Sharpe ratio is 2.94. This value is calculated based on the past 1 year of trading data and takes into account price changes and dividends.

Use the chart below to compare the Sharpe ratio of Water Island Credit Opportunities Fund with the selected benchmark, providing insights into the investment's historical performance in terms of risk-adjusted returns. Go to the Sharpe ratio tool for more fine-grained control over the calculation options.


Rolling 12-month Sharpe Ratio1.502.002.503.00FebruaryMarchAprilMayJuneJuly
2.94
2.31
ACFIX (Water Island Credit Opportunities Fund)
Benchmark (^GSPC)

Dividends

Dividend History

Water Island Credit Opportunities Fund granted a 4.91% dividend yield in the last twelve months. The annual payout for that period amounted to $0.48 per share.


PeriodTTM20232022202120202019201820172016201520142013
Dividend$0.48$0.47$0.34$0.27$0.30$0.34$0.28$0.29$0.23$0.28$0.42$0.41

Dividend yield

4.91%4.80%3.55%2.63%2.95%3.52%2.91%2.99%2.38%2.91%4.26%4.02%

Monthly Dividends

The table displays the monthly dividend distributions for Water Island Credit Opportunities Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2024$0.04$0.04$0.04$0.04$0.04$0.04$0.00$0.23
2023$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.04$0.05$0.04$0.47
2022$0.02$0.02$0.03$0.02$0.02$0.03$0.03$0.03$0.03$0.03$0.04$0.04$0.34
2021$0.02$0.02$0.01$0.02$0.02$0.03$0.03$0.03$0.03$0.03$0.03$0.01$0.27
2020$0.03$0.03$0.01$0.02$0.03$0.03$0.02$0.03$0.03$0.02$0.02$0.02$0.30
2019$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.03$0.34
2018$0.02$0.02$0.01$0.02$0.01$0.02$0.02$0.03$0.03$0.03$0.03$0.03$0.28
2017$0.00$0.00$0.05$0.03$0.03$0.02$0.02$0.02$0.02$0.03$0.01$0.06$0.29
2016$0.00$0.00$0.05$0.00$0.00$0.05$0.00$0.00$0.04$0.00$0.00$0.10$0.23
2015$0.00$0.00$0.04$0.00$0.00$0.08$0.00$0.00$0.06$0.00$0.00$0.09$0.28
2014$0.00$0.00$0.12$0.00$0.00$0.13$0.00$0.00$0.07$0.00$0.00$0.10$0.42
2013$0.05$0.00$0.00$0.17$0.00$0.00$0.10$0.00$0.00$0.08$0.41

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way.


-5.00%-4.00%-3.00%-2.00%-1.00%0.00%FebruaryMarchAprilMayJuneJuly0
-0.88%
ACFIX (Water Island Credit Opportunities Fund)
Benchmark (^GSPC)

Worst Drawdowns

The table below displays the maximum drawdowns of the Water Island Credit Opportunities Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Water Island Credit Opportunities Fund was 8.40%, occurring on Mar 23, 2020. Recovery took 49 trading sessions.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-8.4%Feb 19, 202024Mar 23, 202049Jun 2, 202073
-5.51%Jan 6, 2022120Jun 29, 2022209Apr 28, 2023329
-3.36%Aug 28, 2014351Jan 20, 2016128Jul 22, 2016479
-1.84%May 23, 201322Jun 24, 201317Jul 18, 201339
-1.82%Jun 9, 202015Jun 29, 202027Aug 6, 202042

Volatility

Volatility Chart

The current Water Island Credit Opportunities Fund volatility is 0.57%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.


0.00%1.00%2.00%3.00%4.00%FebruaryMarchAprilMayJuneJuly
0.57%
2.07%
ACFIX (Water Island Credit Opportunities Fund)
Benchmark (^GSPC)