- Inception Date
- Aug 14, 2017
- Category
- Multistrategy
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
ARBIX Performance Chart
Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX) is up 5.0% since the beginning of the year. ARBIX is currently trading at $12 per share. Investors who bought $1,000 worth of ARBIX shares 5 years ago would now be looking at an investment worth $1,299.
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Returns By Period
Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX) has returned 4.95% so far this year and 9.73% over the past 12 months.
Absolute Convertible Arbitrage Fund Institutional Shares
- 1D
- 0.08%
- 1M
- 0.83%
- YTD
- 4.95%
- 6M
- 5.03%
- 1Y
- 9.73%
- 3Y*
- 7.81%
- 5Y*
- 5.37%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
ARBIX Monthly Returns History
Based on dividend-adjusted daily data since Aug 7, 2017, ARBIX's average daily return is +1.12%, while the average monthly return is +77.70%. At this rate, an investment would double in approximately 0.1 years.
Historically, 83% of months were positive and 17% were negative. The best month was Aug 2017 with a return of +8,266.7%, while the worst month was Mar 2020 at -3.1%. The longest winning streak lasted 19 consecutive months, and the longest losing streak was 3 months.
On a daily basis, ARBIX closed higher 39% of trading days. The best single day was Aug 14, 2017 with a return of +2,172.7%, while the worst single day was Jul 1, 2024 at -1.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.30% | 0.51% | -0.17% | 1.54% | 1.18% | 0.50% | 4.95% | ||||||
| 2025 | 0.89% | 0.62% | 0.53% | 0.44% | 0.87% | 0.66% | 0.60% | 0.69% | 1.02% | 1.10% | 0.08% | 0.50% | 8.29% |
| 2024 | 0.55% | 0.73% | 0.90% | 0.09% | 0.72% | 2.34% | -1.06% | 0.89% | 0.97% | 0.35% | 0.70% | 0.14% | 7.53% |
| 2023 | 1.02% | 0.09% | 0.18% | 0.28% | 0.64% | 0.60% | 0.64% | -0.09% | 0.27% | -0.55% | 0.82% | 1.27% | 5.30% |
| 2022 | -0.45% | -0.36% | 0.27% | -0.63% | -1.45% | -1.02% | 0.93% | 1.20% | -0.91% | 0.64% | 0.73% | 0.55% | -0.53% |
| 2021 | 0.80% | 0.97% | -0.53% | -0.18% | 0.00% | 0.35% | 0.09% | 0.18% | 0.53% | 0.61% | -0.26% | 0.35% | 2.95% |
Benchmark Metrics
Absolute Convertible Arbitrage Fund Institutional Shares has an annualized alpha of 1394.23%, beta of 0.66, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since August 07, 2017.
- This fund captured 228.78% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -1.84%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.66 may look defensive, but with R2 of 0.00 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 0.00 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 1,394.23%
- Beta
- 0.66
- R²
- 0.00
- Upside Capture
- 228.78%
- Downside Capture
- -1.84%
Expense Ratio
ARBIX has a high expense ratio of 1.47%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
ARBIX ranks 100 for risk / return — in the top 100% 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.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ARBIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +5.89 | ||
| Sortino ratioReturn per unit of downside risk | +12.24 | ||
| Omega ratioGain probability vs. loss probability | 3.88 | 1.37 | +2.52 |
| Calmar ratioReturn relative to maximum drawdown | 19.11 | 2.78 | +16.33 |
| Martin ratioReturn relative to average drawdown | 110.86 | 12.44 | +98.43 |
Dividends
Dividend History
Absolute Convertible Arbitrage Fund Institutional Shares provided a 5.09% dividend yield over the last twelve months, with an annual payout of $0.61 per share. The fund has been increasing its distributions for 8 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.61 | $0.61 | $0.55 | $0.40 | $0.36 | $0.35 | $0.33 | $0.30 | $0.20 | $0.02 |
Dividend yield | 5.09% | 5.34% | 4.87% | 3.62% | 3.33% | 3.12% | 2.92% | 2.83% | 1.97% | 0.24% |
Monthly Dividends
The table displays the monthly dividend distributions for Absolute Convertible Arbitrage Fund Institutional Shares. 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.54 | $0.61 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.36 | $0.55 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.23 | $0.40 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.33 | $0.36 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.35 | $0.35 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Absolute Convertible Arbitrage Fund Institutional Shares. 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 Absolute Convertible Arbitrage Fund Institutional Shares was 4.31%, occurring on Mar 23, 2020. Recovery took 50 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -4.31%Mar 2020 | 18d | 2mo 12d | 3moMar 2020 - Jun 2020 |
Bear market2022 | -4.02%Jul 2022 | 8mo 1d | 6mo 10d | 1y 2moNov 2021 - Jan 2023 |
2024 pullback2024 | -1.77%Jul 2024 | 0s | 2mo 6d | 2mo 6dJul 2024 - Sep 2024 |
2021 pullback2021 | -1.05%May 2021 | 2mo 12d | 3mo 23d | 6mo 5dMar 2021 - Sep 2021 |
Rate-hike selloffLate 2018 | -0.86%Dec 2018 | 3mo 24d | 17d | 4mo 11dAug 2018 - Jan 2019 |
Drawdown Indicators
| ARBIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.31% | -56.78% | +52.47% |
Max Drawdown (1Y)Largest decline over 1 year | -0.51% | -9.10% | +8.59% |
Max Drawdown (3Y)Largest decline over 3 years | -1.77% | -18.90% | +17.13% |
Max Drawdown (5Y)Largest decline over 5 years | -4.02% | -25.43% | +21.41% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -0.39% | -10.71% | +10.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.09% | 2.03% | -1.94% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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