Water Island Credit Opportunities Fund (ACFIX)
The investment seeks to provide current income and capital growth. The fund invests primarily in a portfolio of debt securities including corporate bonds and debentures (including high yield bonds commonly known as "junk bonds"), bank loans, convertible and preferred securities, credit default swaps and other debt instruments and derivatives that the fund's investment adviser believes have debt-like characteristics. It invests in both domestic and foreign debt securities. The principal types of derivatives in which the fund may invest are credit default swaps, interest rate swaps, total return swaps, futures and options.
Fund Info
US03875R8097
03875R809
Sep 30, 2012
$100,000
Expense Ratio
ACFIX has a high expense ratio of 0.98%, indicating higher-than-average management fees.
Share Price Chart
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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.
Returns By Period
Water Island Credit Opportunities Fund had a return of 4.86% year-to-date (YTD) and 5.54% in the last 12 months. Over the past 10 years, Water Island Credit Opportunities Fund had an annualized return of 3.23%, while the S&P 500 had an annualized return of 11.01%, indicating that Water Island Credit Opportunities Fund did not perform as well as the benchmark.
ACFIX
4.86%
0.31%
2.88%
5.54%
3.94%
3.23%
^GSPC (Benchmark)
23.11%
-0.36%
7.02%
23.15%
12.80%
11.01%
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.31% | 0.53% | -0.04% | 0.28% | 0.62% | 0.73% | 0.50% | 0.78% | 0.58% | 0.16% | 0.10% | 4.86% | |
| 2023 | 1.77% | 0.61% | 0.06% | 0.61% | -0.24% | 1.12% | -0.24% | 0.91% | 0.41% | -0.21% | 1.22% | 1.18% | 7.42% |
| 2022 | -0.53% | 0.00% | -0.25% | -1.28% | -0.88% | -2.52% | 1.88% | 0.33% | -0.46% | 0.85% | 0.87% | -0.71% | -2.71% |
| 2021 | 0.34% | 0.69% | 0.12% | 0.65% | -0.03% | 0.27% | -0.03% | 0.28% | 0.05% | 0.35% | -0.02% | 0.54% | 3.25% |
| 2020 | 0.30% | 0.05% | -5.86% | 2.32% | 3.74% | 1.56% | 1.15% | 1.09% | 0.04% | 0.42% | 1.35% | 0.63% | 6.70% |
| 2019 | 1.39% | 0.60% | 0.37% | 0.49% | 0.18% | 0.48% | 0.21% | 0.39% | 0.17% | 0.20% | 0.42% | 0.64% | 5.67% |
| 2018 | 0.80% | 0.59% | 0.13% | 0.21% | 0.44% | -0.01% | 0.01% | 0.46% | 0.03% | -0.50% | 0.31% | -0.65% | 1.85% |
| 2017 | -0.00% | 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% | 0.64% | -0.41% | 0.62% | 0.47% | 5.01% |
| 2015 | 0.40% | 0.20% | 0.19% | -0.00% | 0.10% | -0.15% | -0.10% | -0.61% | -0.74% | 0.41% | -0.31% | -0.37% | -0.98% |
| 2014 | 0.30% | 0.20% | 0.93% | 0.39% | 0.39% | 0.26% | 0.10% | 0.20% | -0.20% | -0.40% | 0.30% | -1.00% | 1.47% |
| 2013 | 0.20% | 0.20% | 0.44% | 0.80% | 0.69% | -0.86% | 1.31% | 0.30% | 0.98% | 1.09% | 0.49% | 0.07% | 5.85% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 97, ACFIX is among the top 3% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
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.
Dividends
Dividend History
Water Island Credit Opportunities Fund provided a 4.33% dividend yield over the last twelve months, with an annual payout of $0.42 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.42 | $0.47 | $0.34 | $0.26 | $0.30 | $0.34 | $0.28 | $0.29 | $0.23 | $0.28 | $0.42 | $0.40 |
Dividend yield | 4.33% | 4.80% | 3.54% | 2.60% | 2.94% | 3.52% | 2.92% | 2.99% | 2.39% | 2.90% | 4.26% | 3.97% |
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.00 | $0.00 | $0.38 |
| 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 | $0.26 |
| 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 | $0.09 | $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 | $0.40 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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 8.41%, occurring on Mar 23, 2020. Recovery took 49 trading sessions.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -8.41% | Feb 19, 2020 | 24 | Mar 23, 2020 | 49 | Jun 2, 2020 | 73 |
| -5.5% | Jan 6, 2022 | 120 | Jun 29, 2022 | 209 | Apr 28, 2023 | 329 |
| -3.36% | Aug 28, 2014 | 351 | Jan 20, 2016 | 128 | Jul 22, 2016 | 479 |
| -1.85% | May 23, 2013 | 22 | Jun 24, 2013 | 17 | Jul 18, 2013 | 39 |
| -1.82% | Jun 9, 2020 | 15 | Jun 29, 2020 | 27 | Aug 6, 2020 | 42 |
Volatility
Volatility Chart
The current Water Island Credit Opportunities Fund volatility is 0.27%, 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.