Water Island Event-Driven Fund (AEDNX) belongs to the Event Driven category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with AEDNX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to AEDNX
AEDNX charges 1.44% annually. There are 5 mutual funds in the Event Driven category with lower expense ratios, going as low as 0.79%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Gabelli ABC Fund | 0.79% | — | May 1993 | AEDNX vs GABCX | |
| Gabelli Enterprise Mergers and Acquisitions Fund | 1.01% | — | Feb 2001 | AEDNX vs EMAYX | |
| BlackRock Event Driven Equity Fund | 1.16% | — | Dec 2007 | AEDNX vs BILPX | |
| The Merger Fund Class I | 1.32% | — | Aug 2013 | AEDNX vs MERIX | |
| The Arbitrage Fund | 1.43% | — | Sep 2000 | AEDNX vs ARBFX |
Best Risk-Adjusted Alternatives to AEDNX
AEDNX has a PortfoliosLab risk / return rank of 92. There are 7 mutual funds in the Event Driven category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| NexPoint Merger Arbitrage Fund | 99 | — | Aug 2016 | AEDNX vs HMEZX | |
| The Merger Fund Class I | 98 | — | Aug 2013 | AEDNX vs MERIX | |
| Vivaldi Merger Arbitrage Fund Class I | 98 | — | Oct 2015 | AEDNX vs VARBX | |
| The Arbitrage Fund Class Institutional | 97 | — | Oct 2003 | AEDNX vs ARBNX | |
| The Merger Fund | 97 | — | Jan 1989 | AEDNX vs MERFX |
Top Performing AEDNX Alternatives (YTD)
AEDNX is at 1.64% YTD. There are 5 mutual funds in the Event Driven category with higher YTD returns, going as high as 7.89%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Gabelli Enterprise Mergers and Acquisitions Fund | 7.89% | — | Feb 2001 | AEDNX vs EMAYX | |
| Gabelli ABC Fund | 4.60% | — | May 1993 | AEDNX vs GABCX | |
| Camelot Event-Driven Fund Institutional Class | 3.13% | — | Jun 2010 | AEDNX vs EVDIX | |
| Camelot Event Driven Fund Class A | 3.02% | — | Nov 2003 | AEDNX vs EVDAX | |
| NexPoint Merger Arbitrage Fund | 1.72% | — | Aug 2016 | AEDNX vs HMEZX |
Lowest Volatility Alternatives to AEDNX
AEDNX has 2.47% 1-year volatility. There are 8 mutual funds in the Event Driven category with lower 1-year volatility, going as low as 1.12%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Vivaldi Merger Arbitrage Fund Class I | 1.12% | — | Oct 2015 | AEDNX vs VARBX | |
| NexPoint Merger Arbitrage Fund | 1.23% | — | Aug 2016 | AEDNX vs HMEZX | |
| The Merger Fund Class I | 1.40% | — | Aug 2013 | AEDNX vs MERIX | |
| The Merger Fund | 1.43% | — | Jan 1989 | AEDNX vs MERFX | |
| Virtus Westchester Credit Event Fund | 1.67% | — | Dec 2017 | AEDNX vs WCFRX |
Lowest Drawdown Alternatives to AEDNX
AEDNX has a 1-year max drawdown of -1.37%. There are 9 mutual funds in the Event Driven category with shallower 1-year drawdowns, going as shallow as -0.47%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| The Merger Fund Class I | -0.47% | — | Aug 2013 | AEDNX vs MERIX | |
| The Merger Fund | -0.52% | — | Jan 1989 | AEDNX vs MERFX | |
| NexPoint Merger Arbitrage Fund | -0.55% | — | Aug 2016 | AEDNX vs HMEZX | |
| Vivaldi Merger Arbitrage Fund Class I | -0.64% | — | Oct 2015 | AEDNX vs VARBX | |
| The Arbitrage Fund | -0.88% | — | Sep 2000 | AEDNX vs ARBFX |
Other Mutual Funds from Arbitrage Fund
The 1 most viewed Arbitrage Fund mutual funds shown here include ACFIX and span 1 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Water Island Credit Opportunities Fund | Nontraditional Bonds | 14 | 2.14% | — | Sep 2012 | AEDNX vs ACFIX |
Often Compared With AEDNX
Investors most often compare AEDNX with DAMDX, GDL, DEVDX. These 4 comparison targets span 1 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Dunham Monthly Distribution Fund | Event Driven | 96 | 1.28% | — | Jul 2008 | AEDNX vs DAMDX | |
| The GDL Fund | Event Driven | 23 | 1.21% | — | Jan 2007 | AEDNX vs GDL | |
| Driehaus Event Driven Fund | Event Driven | — | — | — | Aug 2013 | AEDNX vs DEVDX | |
| Virtus Westchester Event-Driven Fund | Event Driven | 70 | 1.55% | — | Jan 2014 | AEDNX vs WCEIX |
Compare AEDNX with Any Fund or Stock
Compare AEDNX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair AEDNX with funds that move differently
Water Island Event-Driven Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to AEDNX.
Explore AEDNX Diversifiers