Invenomic Fund Institutional Class (BIVIX)

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Invenomic Fund Institutional Class (BIVIX) is down 9.3% since the beginning of the year. BIVIX is currently trading at $16 per share. Investors who bought $1,000 worth of BIVIX shares 5 years ago would now be looking at an investment worth $1,652.

Invenomic Fund Institutional Class (BIVIX) has returned -9.27% so far this year and -1.89% over the past 12 months.

Based on dividend-adjusted daily data since Jun 23, 2017, BIVIX's average daily return is +0.06%, while the average monthly return is +1.28%. At this rate, an investment would double in approximately 4.5 years.

Historically, 61% of months were positive and 39% were negative. The best month was Jan 2022 with a return of +20.1%, while the worst month was Jun 2021 at -10.6%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 4 months.

On a daily basis, BIVIX closed higher 48% of trading days. The best single day was Nov 9, 2020 with a return of +11.5%, while the worst single day was Sep 21, 2020 at -4.6%.

Invenomic Fund Institutional Class has an annualized alpha of 16.41%, beta of 0.02, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since June 26, 2017.

• This fund captured 35.48% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -16.30%) - a profile typical of hedging or uncorrelated assets.
• Beta of 0.02 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.

BIVIX has a high expense ratio of 3.17%, indicating above-average management fees.

BIVIX ranks 2 for risk / return — in the bottom 2% 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.

The table below present risk-adjusted performance metrics for Invenomic Fund Institutional Class (BIVIX) and compare them to S&P 500 Index.

Invenomic Fund Institutional Class provided a 2.42% dividend yield over the last twelve months, with an annual payout of $0.39 per share.

The table displays the monthly dividend distributions for Invenomic Fund Institutional Class. 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 Invenomic Fund Institutional Class. 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 Invenomic Fund Institutional Class was 20.70%, occurring on May 14, 2026. The portfolio has not yet recovered.

The current Invenomic Fund Institutional Class drawdown is 14.98%.

The chart below shows the rolling one-month volatility.