- ISIN
- US1888501012
- CUSIP
- 188850101
- Issuer
- Clipper Fund
- Inception Date
- Feb 29, 1984
- Category
- Large Cap Blend Equities
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
CFIMX Performance Chart
Clipper Fund (CFIMX) is up 9.3% since the beginning of the year. CFIMX is currently trading at $17 per share. Investors who bought $1,000 worth of CFIMX shares 5 years ago would now be looking at an investment worth $1,703.
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Returns By Period
Clipper Fund (CFIMX) has returned 9.25% so far this year and 31.90% over the past 12 months. Over the last ten years, CFIMX has returned 12.98% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.
Clipper Fund
- 1D
- 0.64%
- 1M
- 2.42%
- YTD
- 9.25%
- 6M
- 11.93%
- 1Y
- 31.90%
- 3Y*
- 24.75%
- 5Y*
- 11.23%
- 10Y*
- 12.98%
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
CFIMX Monthly Returns History
Based on dividend-adjusted daily data since Feb 29, 1984, CFIMX's average daily return is +0.05%, while the average monthly return is +0.95%. At this rate, an investment would double in approximately 6.1 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% | -4.40% | 7.81% | 2.37% | 0.64% | 9.25% | ||||||
| 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 3.21%, 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 (86.45%) than losses (79.06%) - typical of diversified or defensive assets.
- This fund generated an annualized alpha of 3.21% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Alpha
- 3.21%
- Beta
- 0.80
- R²
- 0.69
- Upside Capture
- 86.45%
- Downside Capture
- 79.06%
Expense Ratio
CFIMX has an expense ratio of 0.71%, placing it in the medium range.
Return for Risk
Risk / Return Rank
CFIMX ranks 81 for risk / return — in the top 81% 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 Clipper Fund (CFIMX) and compare them to S&P 500 Index.
| CFIMX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.68 | 2.24 | +0.44 |
Sortino ratioReturn per unit of downside risk | 3.65 | 3.07 | +0.58 |
Omega ratioGain probability vs. loss probability | 1.48 | 1.41 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 4.06 | 2.93 | +1.13 |
Martin ratioReturn relative to average drawdown | 16.33 | 13.52 | +2.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Clipper Fund provided a 7.60% 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 | 7.60% | 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 | $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 0.06%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -66.07%Mar 2009 | 1y 7mo | 4y 2mo | 5y 10moJul 2007 - May 2013 |
COVID crash2020 | -37.24%Mar 2020 | 1mo 2d | 7mo 28d | 9moFeb 2020 - Nov 2020 |
Bear market2022 | -30.80%Sep 2022 | 8mo 20d | 1y 2mo | 1y 11moJan 2022 - Dec 2023 |
Black Monday1987 | -28.27%Dec 1987 | 4mo 4d | 1y 5mo | 1y 9moAug 1987 - Jun 1989 |
1990 bear market1990 | -25.80%Oct 1990 | 1y 19d | 5mo 19d | 1y 6moOct 1989 - Apr 1991 |
Drawdown Indicators
| CFIMX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.07% | -56.78% | -9.29% |
Max Drawdown (1Y)Largest decline over 1 year | -8.25% | -9.10% | +0.85% |
Max Drawdown (3Y)Largest decline over 3 years | -18.43% | -18.90% | +0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -30.80% | -25.43% | -5.37% |
Max Drawdown (10Y)Largest decline over 10 years | -37.24% | -33.92% | -3.32% |
Current DrawdownCurrent decline from peak | -0.06% | -0.74% | +0.68% |
Average DrawdownAverage peak-to-trough decline | -7.87% | -10.72% | +2.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 1.97% | +0.07% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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