- ISIN
- US02110B8019
- Issuer
- ALPS
- Inception Date
- Oct 23, 2014
- Category
- Global Equities
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
AVPEX Performance Chart
ALPS/Red Rocks Global Opportunity Portfolio (AVPEX) is down 8.6% since the beginning of the year. AVPEX is currently trading at $11 per share. Investors who bought $1,000 worth of AVPEX shares 5 years ago would now be looking at an investment worth $1,128.
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Returns By Period
ALPS/Red Rocks Global Opportunity Portfolio (AVPEX) has returned -8.56% so far this year and -5.74% over the past 12 months. Over the last ten years, AVPEX has returned 8.47% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
ALPS/Red Rocks Global Opportunity Portfolio
- 1D
- -0.09%
- 1M
- 0.89%
- YTD
- -8.56%
- 6M
- -9.37%
- 1Y
- -5.74%
- 3Y*
- 7.99%
- 5Y*
- 2.44%
- 10Y*
- 8.47%
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%
AVPEX Monthly Returns History
Based on dividend-adjusted daily data since Oct 27, 2014, AVPEX's average daily return is +0.04%, while the average monthly return is +0.75%. At this rate, an investment would double in approximately 7.7 years.
Historically, 60% of months were positive and 40% were negative. The best month was Nov 2020 with a return of +13.9%, while the worst month was Mar 2020 at -24.1%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 4 months.
On a daily basis, AVPEX closed higher 52% of trading days. The best single day was Mar 24, 2020 with a return of +11.3%, while the worst single day was Mar 16, 2020 at -14.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -1.29% | -9.00% | -6.03% | 7.18% | 2.32% | -1.22% | -8.56% | ||||||
| 2025 | 5.57% | -3.21% | -5.75% | 1.56% | 2.31% | 3.16% | 0.44% | 0.87% | -1.87% | -3.52% | -0.46% | 2.93% | 1.46% |
| 2024 | 0.90% | 3.17% | 2.28% | -2.00% | 5.02% | -1.27% | 6.06% | 0.50% | 2.13% | -2.23% | 7.11% | -4.28% | 18.06% |
| 2023 | 8.97% | -2.13% | -2.27% | 2.63% | 0.20% | 4.23% | 3.87% | -1.27% | -1.29% | -4.85% | 11.96% | 6.92% | 28.80% |
| 2022 | -7.13% | -4.08% | 0.06% | -10.57% | -0.14% | -11.34% | 10.34% | -6.72% | -11.87% | 7.45% | 8.86% | -5.13% | -28.96% |
| 2021 | -2.46% | 3.71% | 2.16% | 6.87% | 1.11% | 1.34% | 4.04% | 2.20% | -4.25% | 6.99% | -3.38% | 4.12% | 24.03% |
Benchmark Metrics
ALPS/Red Rocks Global Opportunity Portfolio has an annualized alpha of -2.01%, beta of 0.85, and R2 of 0.68 versus S&P 500 Index. Calculated based on daily prices since October 27, 2014.
- This fund participated in 109.70% of S&P 500 Index downside but only 90.18% of its upside - more exposed to losses than it benefited from rallies.
- This fund had an annualized alpha of -2.01% versus S&P 500 Index - delivering less than market exposure alone would predict.
- With beta of 0.85 and R2 of 0.68, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -2.01%
- Beta
- 0.85
- R²
- 0.68
- Upside Capture
- 90.18%
- Downside Capture
- 109.70%
Expense Ratio
AVPEX has a high expense ratio of 1.45%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
AVPEX ranks 1 for risk / return — in the bottom 1% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for ALPS/Red Rocks Global Opportunity Portfolio (AVPEX) 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.
| AVPEX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.37 | ||
| Sortino ratioReturn per unit of downside risk | -3.11 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.37 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 2.78 | -3.06 |
| Martin ratioReturn relative to average drawdown | -0.62 | 12.44 | -13.05 |
Dividends
Dividend History
ALPS/Red Rocks Global Opportunity Portfolio provided a 9.30% dividend yield over the last twelve months, with an annual payout of $1.05 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.05 | $1.05 | $1.17 | $0.00 | $2.94 | $0.74 | $1.98 | $0.46 | $0.75 | $0.32 | $0.08 | $0.01 |
Dividend yield | 9.30% | 8.50% | 8.83% | 0.00% | 31.03% | 4.24% | 13.52% | 3.02% | 6.79% | 2.33% | 0.75% | 0.11% |
Monthly Dividends
The table displays the monthly dividend distributions for ALPS/Red Rocks Global Opportunity Portfolio. 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.05 | $1.05 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.17 | $1.17 |
| 2023 | $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 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.94 | $2.94 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.74 | $0.74 |
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 ALPS/Red Rocks Global Opportunity Portfolio. 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 ALPS/Red Rocks Global Opportunity Portfolio was 46.42%, occurring on Mar 23, 2020. Recovery took 179 trading sessions.
The current ALPS/Red Rocks Global Opportunity Portfolio drawdown is 13.12%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -46.42%Mar 2020 | 1mo 4d | 8mo 16d | 9mo 20dFeb 2020 - Dec 2020 |
Bear market2022 | -37.50%Oct 2022 | 11mo 6d | 1y 9mo | 2y 8moNov 2021 - Jul 2024 |
2026 bear market2026 | -22.41%Mar 2026 | 8mo 2d | — | 11mo 5hJul 2025 - now |
Rate-hike selloffLate 2018 | -21.73%Dec 2018 | 10mo 29d | 6mo 6d | 1y 5moJan 2018 - Jun 2019 |
2016 bear market2016 | -21.13%Feb 2016 | 8mo 25d | 11mo 18d | 1y 8moMay 2015 - Jan 2017 |
Drawdown Indicators
| AVPEX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.42% | -56.78% | +10.36% |
Max Drawdown (1Y)Largest decline over 1 year | -22.41% | -9.10% | -13.31% |
Max Drawdown (3Y)Largest decline over 3 years | -22.41% | -18.90% | -3.51% |
Max Drawdown (5Y)Largest decline over 5 years | -37.50% | -25.43% | -12.07% |
Max Drawdown (10Y)Largest decline over 10 years | -46.42% | -33.92% | -12.50% |
Current DrawdownCurrent decline from peak | -13.12% | -1.80% | -11.32% |
Average DrawdownAverage peak-to-trough decline | -8.63% | -10.71% | +2.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.04% | 2.03% | +8.01% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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