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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Clipper Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Clipper Fund (CFIMX) has returned -3.84% so far this year and 20.84% over the past 12 months. Over the last decade, CFIMX has posted an annualized return of 12.37%, slightly higher than the S&P 500 Index benchmark’s 12.16%.
Clipper Fund
- 1D
- 0.26%
- 1M
- -6.54%
- YTD
- -3.84%
- 6M
- 4.67%
- 1Y
- 20.84%
- 3Y*
- 22.64%
- 5Y*
- 10.50%
- 10Y*
- 12.37%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Feb 29, 1984, CFIMX's average daily return is +0.05%, while the average monthly return is +0.93%. At this rate, your investment would double in approximately 6.2 years.
Historically, 64% of months were positive and 36% were negative. The best month was Apr 2009 with a return of +15.6%, while the worst month was Mar 2020 at -19.1%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 6 months.
On a daily basis, CFIMX closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +10.5%, while the worst single day was Dec 22, 1987 at -17.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.64% | 0.25% | -6.54% | -3.84% | |||||||||
| 2025 | 7.17% | -3.28% | -2.19% | -1.04% | 4.15% | 6.28% | 0.14% | 4.47% | 0.74% | 1.53% | 3.60% | 3.48% | 27.39% |
| 2024 | 1.61% | 6.71% | 4.34% | -3.77% | 3.97% | 1.23% | 1.53% | 0.40% | 1.62% | -0.90% | 6.90% | -5.03% | 19.40% |
| 2023 | 11.04% | -3.52% | -2.59% | 3.56% | 0.52% | 7.19% | 7.28% | -3.98% | -3.35% | -1.87% | 7.93% | 7.16% | 31.59% |
| 2022 | -0.24% | -3.40% | -0.62% | -10.03% | 2.95% | -9.91% | 5.05% | -3.48% | -9.58% | 5.36% | 10.00% | -4.37% | -18.80% |
| 2021 | -0.17% | 7.40% | 4.22% | 7.94% | 1.03% | -1.25% | -2.25% | 1.72% | -3.90% | 4.27% | -4.64% | 3.02% | 17.76% |
Benchmark Metrics
Clipper Fund has an annualized alpha of 3.26%, beta of 0.80, and R² of 0.69 versus S&P 500 Index. Calculated based on daily prices since March 01, 1984.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (86.79%) than losses (79.09%) — typical of diversified or defensive assets.
- This fund generated an annualized alpha of 3.26% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
- Alpha
- 3.26%
- Beta
- 0.80
- R²
- 0.69
- Upside Capture
- 86.79%
- Downside Capture
- 79.09%
Expense Ratio
CFIMX has an expense ratio of 0.71%, placing it in the medium range.
Return for Risk
Risk / Return Rank
CFIMX ranks 68 for risk / return — better than 68% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Clipper Fund (CFIMX) and compare them to a chosen benchmark (S&P 500 Index).
| CFIMX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.20 | 0.90 | +0.31 |
Sortino ratioReturn per unit of downside risk | 1.80 | 1.39 | +0.41 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.21 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.54 | 1.40 | +0.14 |
Martin ratioReturn relative to average drawdown | 6.69 | 6.61 | +0.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore CFIMX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Clipper Fund provided a 8.64% dividend yield over the last twelve months, with an annual payout of $1.32 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.32 | $1.32 | $1.83 | $0.79 | $0.60 | $1.88 | $0.32 | $0.18 | $0.97 | $0.72 | $1.13 | $0.07 |
Dividend yield | 8.64% | 8.31% | 13.43% | 6.10% | 5.67% | 13.79% | 2.45% | 1.46% | 10.12% | 5.95% | 10.43% | 0.71% |
Monthly Dividends
The table displays the monthly dividend distributions for Clipper Fund. 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 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.82 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.50 | $1.32 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.60 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.23 | $1.83 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.36 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.43 | $0.79 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.42 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.18 | $0.60 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.55 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.33 | $1.88 |
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 Clipper Fund. 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 Clipper Fund was 66.07%, occurring on Mar 5, 2009. Recovery took 1055 trading sessions.
The current Clipper Fund drawdown is 8.01%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -66.07% | Jul 16, 2007 | 414 | Mar 5, 2009 | 1055 | May 14, 2013 | 1469 |
| -37.24% | Feb 20, 2020 | 23 | Mar 23, 2020 | 166 | Nov 16, 2020 | 189 |
| -30.8% | Jan 13, 2022 | 180 | Sep 30, 2022 | 306 | Dec 19, 2023 | 486 |
| -28.27% | Aug 27, 1987 | 86 | Dec 29, 1987 | 367 | Jun 12, 1989 | 453 |
| -25.8% | Oct 10, 1989 | 267 | Oct 29, 1990 | 116 | Apr 16, 1991 | 383 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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