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Water Island Event-Driven Fund (AEDNX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Fund Info

ISINUS03875R4039
CUSIP03875R403
IssuerArbitrage Fund
Inception DateSep 30, 2010
CategoryEvent Driven
Min. Investment$100,000
Asset ClassAlternatives

Expense Ratio

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


Expense ratio chart for AEDNX: current value at 1.44% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%1.44%

Share Price Chart


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Compare to other instruments

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


Water Island Event-Driven Fund

Performance

Performance Chart

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.


0.00%5.00%10.00%15.00%2024FebruaryMarchAprilMayJune
-0.60%
15.46%
AEDNX (Water Island Event-Driven Fund)
Benchmark (^GSPC)

S&P 500

Returns By Period

Water Island Event-Driven Fund had a return of -0.77% year-to-date (YTD) and 6.43% in the last 12 months. Over the past 10 years, Water Island Event-Driven Fund had an annualized return of 1.89%, while the S&P 500 had an annualized return of 10.85%, indicating that Water Island Event-Driven Fund did not perform as well as the benchmark.


PeriodReturnBenchmark
Year-To-Date-0.77%15.00%
1 month0.09%3.44%
6 months-0.60%15.71%
1 year6.43%24.40%
5 years (annualized)4.16%13.41%
10 years (annualized)1.89%10.85%

Monthly Returns

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


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2024-0.69%0.09%0.69%-1.37%0.35%-0.77%
20230.18%0.00%0.27%0.09%-2.51%1.66%1.63%1.07%0.26%-0.70%2.66%1.24%5.90%
2022-1.08%0.18%0.81%-0.81%-0.81%-1.92%1.77%0.46%-0.55%1.83%-0.81%0.36%-0.63%
20211.27%0.72%0.36%1.06%0.70%-0.96%-2.81%0.81%0.54%0.54%-2.13%1.18%1.18%
20200.31%-0.51%-2.57%5.28%0.80%0.30%0.79%1.48%0.78%0.48%2.49%3.24%13.42%
20191.39%0.21%0.32%1.68%-1.45%0.11%0.73%0.00%-0.10%0.42%0.52%0.88%4.76%
20180.95%0.42%-1.35%-0.63%0.85%0.52%-0.73%0.31%0.21%-1.15%1.06%-0.57%-0.15%
20170.11%0.43%0.32%0.54%0.86%0.32%-0.21%0.53%0.21%0.63%-1.25%1.37%3.89%
20160.11%1.03%1.02%0.34%0.78%-0.11%0.66%0.44%0.66%-1.31%0.99%0.66%5.37%
20150.10%0.82%-0.61%0.61%-0.61%-2.14%-1.15%-1.16%-3.73%0.55%-0.88%-0.05%-8.03%
2014-0.00%0.78%-0.29%0.49%0.78%1.06%-1.05%0.29%-1.44%-1.17%-0.20%-0.77%-1.55%
20130.31%0.20%0.10%0.21%0.61%0.10%1.11%0.10%0.70%0.99%0.69%0.41%5.68%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current risk-adjusted rank of AEDNX is 81, placing it in the top 19% 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 AEDNX is 8181
AEDNX (Water Island Event-Driven Fund)
The Sharpe Ratio Rank of AEDNX is 7878Sharpe Ratio Rank
The Sortino Ratio Rank of AEDNX is 8585Sortino Ratio Rank
The Omega Ratio Rank of AEDNX is 8686Omega Ratio Rank
The Calmar Ratio Rank of AEDNX is 7575Calmar Ratio Rank
The Martin Ratio Rank of AEDNX is 8383Martin 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 Event-Driven Fund (AEDNX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


AEDNX
Sharpe ratio
The chart of Sharpe ratio for AEDNX, currently valued at 1.85, compared to the broader market-1.000.001.002.003.004.001.85
Sortino ratio
The chart of Sortino ratio for AEDNX, currently valued at 3.14, compared to the broader market0.005.0010.003.14
Omega ratio
The chart of Omega ratio for AEDNX, currently valued at 1.41, compared to the broader market1.002.003.004.001.41
Calmar ratio
The chart of Calmar ratio for AEDNX, currently valued at 1.23, compared to the broader market0.005.0010.0015.001.23
Martin ratio
The chart of Martin ratio for AEDNX, currently valued at 8.36, compared to the broader market0.0020.0040.0060.0080.008.36
^GSPC
Sharpe ratio
The chart of Sharpe ratio for ^GSPC, currently valued at 2.16, compared to the broader market-1.000.001.002.003.004.002.16
Sortino ratio
The chart of Sortino ratio for ^GSPC, currently valued at 3.06, compared to the broader market0.005.0010.003.06
Omega ratio
The chart of Omega ratio for ^GSPC, currently valued at 1.38, compared to the broader market1.002.003.004.001.38
Calmar ratio
The chart of Calmar ratio for ^GSPC, currently valued at 1.72, compared to the broader market0.005.0010.0015.001.72
Martin ratio
The chart of Martin ratio for ^GSPC, currently valued at 8.10, compared to the broader market0.0020.0040.0060.0080.008.10

Sharpe Ratio

The current Water Island Event-Driven Fund Sharpe ratio is 1.85. 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 Event-Driven 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 Ratio1.001.502.002.503.002024FebruaryMarchAprilMayJune
1.85
2.10
AEDNX (Water Island Event-Driven Fund)
Benchmark (^GSPC)

Dividends

Dividend History

Water Island Event-Driven Fund granted a 0.72% dividend yield in the last twelve months. The annual payout for that period amounted to $0.08 per share.


PeriodTTM20232022202120202019201820172016201520142013
Dividend$0.08$0.08$0.00$0.00$0.03$0.04$0.17$0.06$0.00$0.24$0.25$0.08

Dividend yield

0.72%0.72%0.00%0.00%0.24%0.46%1.78%0.62%0.00%2.79%2.59%0.81%

Monthly Dividends

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.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2024$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2023$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.08$0.08
2022$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2021$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2020$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.03$0.03
2019$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.04$0.04
2018$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.17$0.17
2017$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.06$0.06
2016$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2015$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.24$0.24
2014$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.25$0.25
2013$0.08$0.08

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%2024FebruaryMarchAprilMayJune
-1.20%
0
AEDNX (Water Island Event-Driven Fund)
Benchmark (^GSPC)

Worst Drawdowns

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 1.20%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-13.03%Jun 27, 2014394Jan 20, 2016981Dec 11, 20191375
-12.24%Feb 21, 202019Mar 18, 202021Apr 17, 202040
-8.94%Jun 9, 2021259Jun 16, 2022360Nov 21, 2023619
-7.09%Jul 8, 201122Aug 8, 201153Oct 21, 201175
-3.88%Apr 13, 2012143Nov 7, 2012121May 3, 2013264

Volatility

Volatility Chart

The current Water Island Event-Driven Fund volatility is 0.66%, 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%2024FebruaryMarchAprilMayJune
0.66%
2.33%
AEDNX (Water Island Event-Driven Fund)
Benchmark (^GSPC)