Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX)

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The chart shows the growth of an initial investment of $10,000 in Absolute Convertible Arbitrage Fund Institutional Shares, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX) has returned 1.39% so far this year and 7.59% over the past 12 months.

Based on dividend-adjusted daily data since Aug 7, 2017, ARBIX's average daily return is +1.14%, while the average monthly return is +79.90%. At this rate, your 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 38% 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%.

Absolute Convertible Arbitrage Fund Institutional Shares has an annualized alpha of 1515.26%, beta of 0.68, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since August 08, 2017.

• This fund captured 245.75% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -1.18%) — a profile typical of hedging or uncorrelated assets.
• Beta of 0.68 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.

ARBIX has a high expense ratio of 1.47%, indicating above-average management fees.

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.

The table below present risk-adjusted performance metrics for Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX) and compare them to a chosen benchmark (S&P 500 Index).

Absolute Convertible Arbitrage Fund Institutional Shares provided a 5.27% 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.

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.

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 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.

The current Absolute Convertible Arbitrage Fund Institutional Shares drawdown is 0.51%.

The chart below shows the rolling one-month volatility.