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FS Multi-Strategy Alternatives Fund (FSMSX)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Fund Info

ISIN

US00775Y5950

CUSIP

302691209

Inception Date

May 15, 2017

Min. Investment

$1,000,000

Asset Class

Alternatives

Expense Ratio

FSMSX has a high expense ratio of 1.89%, indicating above-average management fees.


Share Price Chart


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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in FS Multi-Strategy Alternatives Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.


20.00%40.00%60.00%80.00%100.00%120.00%140.00%160.00%December2025FebruaryMarchAprilMay
28.34%
135.76%
FSMSX (FS Multi-Strategy Alternatives Fund)
Benchmark (^GSPC)

Returns By Period

FS Multi-Strategy Alternatives Fund (FSMSX) returned -0.63% year-to-date (YTD) and 0.68% over the past 12 months.


FSMSX

YTD

-0.63%

1M

0.27%

6M

0.06%

1Y

0.68%

5Y*

5.40%

10Y*

N/A

^GSPC (Benchmark)

YTD

-3.77%

1M

3.72%

6M

-5.60%

1Y

8.55%

5Y*

14.11%

10Y*

10.45%

*Annualized

Monthly Returns

The table below presents the monthly returns of FSMSX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.45%0.54%-0.62%-0.54%-0.45%-0.63%
20240.64%0.82%0.81%0.27%0.89%-0.62%1.60%-1.49%0.53%-0.62%1.34%0.24%4.47%
20231.31%0.09%0.28%0.46%-0.36%0.64%0.82%0.18%0.27%0.72%0.80%0.07%5.39%
20221.11%-0.64%0.64%0.36%0.55%-0.90%0.64%-0.82%-1.19%1.85%1.36%-0.94%1.99%
20211.12%2.42%3.35%1.14%0.85%-0.28%-0.09%0.56%-0.00%1.59%0.55%2.00%13.97%
2020-0.20%-2.35%-3.10%0.10%0.62%-0.41%2.58%0.20%0.40%-1.30%-0.81%0.66%-3.66%
20191.65%1.82%0.90%1.18%0.68%1.55%0.38%0.95%-0.85%-0.19%-0.76%0.24%7.77%
20180.49%-1.76%0.80%-0.10%-0.20%-0.30%0.40%-2.57%-0.51%-1.22%0.21%0.10%-4.61%
20170.70%0.20%-0.10%0.50%-0.89%1.10%0.29%0.10%1.90%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of FSMSX is 36, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of FSMSX is 3636
Overall Rank
The Sharpe Ratio Rank of FSMSX is 3535
Sharpe Ratio Rank
The Sortino Ratio Rank of FSMSX is 3131
Sortino Ratio Rank
The Omega Ratio Rank of FSMSX is 3131
Omega Ratio Rank
The Calmar Ratio Rank of FSMSX is 4444
Calmar Ratio Rank
The Martin Ratio Rank of FSMSX is 3636
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for FS Multi-Strategy Alternatives Fund (FSMSX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

FS Multi-Strategy Alternatives Fund Sharpe ratios as of May 10, 2025 (values are recalculated daily):

  • 1-Year: 0.21
  • 5-Year: 1.54
  • All Time: 0.78

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of FS Multi-Strategy Alternatives Fund compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time. For deeper analysis or to customize the calculation, use the Sharpe ratio tool.


Rolling 12-month Sharpe Ratio0.001.002.003.00December2025FebruaryMarchAprilMay
0.21
0.44
FSMSX (FS Multi-Strategy Alternatives Fund)
Benchmark (^GSPC)

Dividends

Dividend History

FS Multi-Strategy Alternatives Fund provided a 2.34% dividend yield over the last twelve months, with an annual payout of $0.26 per share.


1.00%1.50%2.00%2.50%3.00%3.50%$0.00$0.10$0.20$0.30$0.40201920202021202220232024
Dividends
Dividend Yield
PeriodTTM202420232022202120202019
Dividend$0.26$0.26$0.39$0.32$0.35$0.08$0.23

Dividend yield

2.34%2.32%3.57%2.97%3.22%0.77%2.20%

Monthly Dividends

The table displays the monthly dividend distributions for FS Multi-Strategy Alternatives Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.00$0.00$0.00$0.00$0.00$0.00
2024$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.26$0.26
2023$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.39$0.39
2022$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.32$0.32
2021$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.35$0.35
2020$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.08$0.08
2019$0.23$0.23

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.


-20.00%-15.00%-10.00%-5.00%0.00%December2025FebruaryMarchAprilMay
-1.60%
-7.88%
FSMSX (FS Multi-Strategy Alternatives Fund)
Benchmark (^GSPC)

Worst Drawdowns

The table below displays the maximum drawdowns of the FS Multi-Strategy Alternatives 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 FS Multi-Strategy Alternatives Fund was 9.41%, occurring on Mar 23, 2020. Recovery took 244 trading sessions.

The current FS Multi-Strategy Alternatives Fund drawdown is 1.60%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-9.41%Sep 5, 2019138Mar 23, 2020244Mar 11, 2021382
-7.28%Jan 29, 2018229Dec 24, 2018103May 23, 2019332
-2.84%Mar 4, 202529Apr 11, 2025
-2.8%Jun 10, 202275Sep 27, 202240Nov 22, 2022115
-2.18%Feb 11, 202212Mar 1, 202236Apr 21, 202248

Volatility

Volatility Chart

The current FS Multi-Strategy Alternatives Fund volatility is 1.33%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.


0.00%5.00%10.00%15.00%December2025FebruaryMarchAprilMay
1.33%
6.82%
FSMSX (FS Multi-Strategy Alternatives Fund)
Benchmark (^GSPC)