Water Island Credit Opportunities Fund (ACFIX) belongs to the Nontraditional Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with ACFIX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to ACFIX
ACFIX charges 0.98% annually. There are 35 mutual funds in the Nontraditional Bonds category with lower expense ratios, going as low as 0.47%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Putnam Mortgage Opportunities Fund | 0.47% | — | Apr 2015 | ACFIX vs PMOTX | |
| GMO Opportunistic Income Fund | 0.47% | — | Oct 2011 | ACFIX vs GMODX | |
| Carillon Reams Unconstrained Bond Fund | 0.50% | — | Sep 2011 | ACFIX vs SUBFX | |
| FPA Flexible Fixed Income Fund | 0.51% | — | Dec 2018 | ACFIX vs FPFIX | |
| PIMCO Strategic Bond Fund | 0.51% | — | Jan 2009 | ACFIX vs PUTIX |
Best Risk-Adjusted Alternatives to ACFIX
ACFIX has a PortfoliosLab risk / return rank of 20. There are 60 mutual funds in the Nontraditional Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Cliffwater Enhanced Lending Fund | 100 | — | Jul 2021 | ACFIX vs CELFX | |
| Victory Pioneer Cat Bond Fund Class Y | 100 | — | Jan 2023 | ACFIX vs CBYYX | |
| PGIM Securitized Credit Fund | 100 | — | Jun 2019 | ACFIX vs SCFZX | |
| Eaton Vance Global Macro Absolute Return Fund | 99 | — | Jun 2007 | ACFIX vs EIGMX | |
| Artisan Global Unconstrained Fund | 99 | — | Mar 2022 | ACFIX vs APFPX |
Top Performing ACFIX Alternatives (YTD)
ACFIX is at 2.02% YTD. There are 12 mutual funds in the Nontraditional Bonds category with higher YTD returns, going as high as 8.55%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Eaton Vance Global Macro Absolute Return Advantage... | 8.55% | — | Aug 2010 | ACFIX vs EGRIX | |
| Putnam Mortgage Opportunities Fund | 5.66% | — | Apr 2015 | ACFIX vs PMOTX | |
| Eaton Vance Global Macro Absolute Return Fund | 5.42% | — | Jun 2007 | ACFIX vs EIGMX | |
| Artisan Global Unconstrained Fund | 5.11% | — | Mar 2022 | ACFIX vs APFPX | |
| Cliffwater Enhanced Lending Fund | 4.56% | — | Jul 2021 | ACFIX vs CELFX |
Lowest Volatility Alternatives to ACFIX
ACFIX has 33.49% 1-year volatility. There are 73 mutual funds in the Nontraditional Bonds category with lower 1-year volatility, going as low as 0.85%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Cliffwater Enhanced Lending Fund | 0.85% | — | Jul 2021 | ACFIX vs CELFX | |
| Dunham Long/Short Credit Fund | 1.07% | — | Dec 2004 | ACFIX vs DCAIX | |
| Victory Pioneer Cat Bond Fund Class Y | 1.20% | — | Jan 2023 | ACFIX vs CBYYX | |
| BlackRock Global Long/Short Credit Fund | 1.36% | — | Sep 2011 | ACFIX vs BGCIX | |
| GMO Opportunistic Income Fund | 1.43% | — | Oct 2011 | ACFIX vs GMODX |
Lowest Drawdown Alternatives to ACFIX
ACFIX has a 1-year max drawdown of -20.82%. There are 72 mutual funds in the Nontraditional Bonds category with shallower 1-year drawdowns, going as shallow as -0.09%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Victory Pioneer Cat Bond Fund Class Y | -0.09% | — | Jan 2023 | ACFIX vs CBYYX | |
| Cliffwater Enhanced Lending Fund | -0.18% | — | Jul 2021 | ACFIX vs CELFX | |
| PGIM Securitized Credit Fund | -0.31% | — | Jun 2019 | ACFIX vs SCFZX | |
| Dunham Long/Short Credit Fund | -0.49% | — | Dec 2004 | ACFIX vs DCAIX | |
| GMO Opportunistic Income Fund | -0.65% | — | Oct 2011 | ACFIX vs GMODX |
Other Mutual Funds from Arbitrage Fund
The 3 most viewed Arbitrage Fund mutual funds shown here include ARBNX, ARBFX, AEDNX and span 1 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| The Arbitrage Fund Class Institutional | Event Driven | 97 | 1.85% | — | Oct 2003 | ACFIX vs ARBNX | |
| The Arbitrage Fund | Event Driven | 96 | 1.71% | — | Sep 2000 | ACFIX vs ARBFX | |
| Water Island Event-Driven Fund | Event Driven | 95 | 4.38% | — | Sep 2010 | ACFIX vs AEDNX |
Often Compared With ACFIX
Investors most often compare ACFIX with PADZX, ATCSX, TTRZX. These 9 comparison targets span 1 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| PGIM Absolute Return Bond Fund | Nontraditional Bonds | 96 | 2.45% | — | Mar 2011 | ACFIX vs PADZX | |
| Anchor Risk Managed Income Strategies Fund | Nontraditional Bonds | 10 | -0.58% | — | Sep 2015 | ACFIX vs ATCSX | |
| Templeton Global Total Return Fund | Nontraditional Bonds | 43 | 4.00% | — | Sep 2008 | ACFIX vs TTRZX | |
| T. Rowe Price Dynamic Global Bond Fund | Nontraditional Bonds | 23 | 4.01% | — | Jan 2015 | ACFIX vs RPIEX | |
| Toews Unconstrained Income Fund | Nontraditional Bonds | 34 | 0.17% | — | Aug 2013 | ACFIX vs TUIFX | |
| DoubleLine Flexible Income Fund | Nontraditional Bonds | 97 | 1.38% | — | Apr 2014 | ACFIX vs DFLEX | |
| Anfield Universal Fixed Income Fund | Nontraditional Bonds | 94 | 1.37% | — | Jun 2013 | ACFIX vs AFLIX | |
| T. Rowe Price Dynamic Credit Fund | Nontraditional Bonds | 17 | 0.03% | — | Jan 2019 | ACFIX vs RPIDX | |
| Wavelength Fund | Nontraditional Bonds | 48 | 1.36% | — | Sep 2013 | ACFIX vs WAVLX |
Compare ACFIX with Any Fund or Stock
Compare ACFIX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair ACFIX with funds that move differently
Water Island Credit Opportunities Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to ACFIX.
Explore ACFIX Diversifiers