Water Island Event-Driven Fund (AEDNX)

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

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

Water Island Event-Driven Fund (AEDNX) has returned -0.23% so far this year and 5.75% over the past 12 months. Over the last ten years, AEDNX has returned 4.13% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Sep 30, 2010, AEDNX's average daily return is +0.01%, while the average monthly return is +0.25%. At this rate, your investment would double in approximately 23.1 years.

Historically, 69% of months were positive and 31% were negative. The best month was Oct 2011 with a return of +5.7%, while the worst month was Sep 2015 at -3.7%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 5 months.

On a daily basis, AEDNX closed higher 41% of trading days. The best single day was Mar 19, 2020 with a return of +3.4%, while the worst single day was Mar 16, 2020 at -7.8%.

Water Island Event-Driven Fund has an annualized alpha of 1.10%, beta of 0.16, and R² of 0.31 versus S&P 500 Index. Calculated based on daily prices since October 01, 2010.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (15.29%) than losses (13.42%) — typical of diversified or defensive assets.
• Beta of 0.16 may look defensive, but with R² of 0.31 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.31 means the benchmark explains less than half of this fund's behavior — treat beta with caution or consider switching to a more representative benchmark.

AEDNX has a high expense ratio of 1.44%, indicating above-average management fees.

AEDNX ranks 94 for risk / return — in the top 94% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.

The table below present risk-adjusted performance metrics for Water Island Event-Driven Fund (AEDNX) and compare them to a chosen benchmark (S&P 500 Index).

Water Island Event-Driven Fund provided a 0.95% dividend yield over the last twelve months, with an annual payout of $0.12 per share.

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

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.

The table below displays the maximum drawdowns of the Water Island Event-Driven 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 Event-Driven Fund was 13.03%, occurring on Jan 20, 2016. Recovery took 981 trading sessions.

The current Water Island Event-Driven Fund drawdown is 1.24%.

The chart below shows the rolling one-month volatility.