- ISIN
- US62827M1449
- CUSIP
- 62827M144
- Issuer
- AlphaCentric Funds
- Inception Date
- May 27, 2015
- Category
- Multisector Bonds
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
IOFIX Performance Chart
AlphaCentric Income Opportunities Fund (IOFIX) is down 0.8% since the beginning of the year. IOFIX is currently trading at $7 per share. Investors who bought $1,000 worth of IOFIX shares 5 years ago would now be looking at an investment worth $846.
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Returns By Period
AlphaCentric Income Opportunities Fund (IOFIX) has returned -0.84% so far this year and 5.38% over the past 12 months. Over the last ten years, IOFIX has returned 1.37% per year, falling short of the S&P 500 Index benchmark, which averaged 13.24% annually.
AlphaCentric Income Opportunities Fund
- 1D
- 0.00%
- 1M
- -0.70%
- YTD
- -0.84%
- 6M
- -0.84%
- 1Y
- 5.38%
- 3Y*
- 1.14%
- 5Y*
- -3.30%
- 10Y*
- 1.37%
Benchmark (S&P 500 Index)
- 1D
- -1.62%
- 1M
- -1.97%
- YTD
- 6.16%
- 6M
- 5.52%
- 1Y
- 20.34%
- 3Y*
- 19.12%
- 5Y*
- 11.34%
- 10Y*
- 13.24%
IOFIX Monthly Returns History
Based on dividend-adjusted daily data since Jan 4, 2016, IOFIX's average daily return is +0.01%, while the average monthly return is +0.24%. At this rate, an investment would double in approximately 24.1 years.
Historically, 69% of months were positive and 31% were negative. The best month was Apr 2020 with a return of +8.8%, while the worst month was Mar 2020 at -37.9%. The longest winning streak lasted 21 consecutive months, and the longest losing streak was 6 months.
On a daily basis, IOFIX closed higher 38% of trading days. The best single day was Mar 26, 2020 with a return of +4.8%, while the worst single day was Mar 20, 2020 at -17.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.27% | 1.22% | -1.21% | -0.55% | 0.00% | -0.56% | -0.84% | ||||||
| 2025 | -1.36% | 1.93% | 0.00% | -0.82% | 1.39% | 3.32% | -0.54% | -0.14% | 2.75% | 1.21% | 0.81% | -0.40% | 8.34% |
| 2024 | -0.25% | -0.63% | 0.38% | -2.44% | 0.40% | -0.13% | 2.01% | 1.98% | 1.05% | -1.82% | 1.20% | -1.99% | -0.35% |
| 2023 | 1.10% | -0.11% | -3.42% | -0.11% | 0.58% | 0.00% | -0.58% | -0.94% | -2.75% | -4.21% | 0.39% | 4.69% | -5.52% |
| 2022 | 0.16% | -1.48% | -3.35% | -1.22% | -10.52% | -3.77% | -0.52% | 1.46% | -2.69% | -1.81% | -1.09% | 1.22% | -21.68% |
| 2021 | 2.90% | 2.03% | 0.43% | 0.87% | 0.86% | 0.69% | 1.29% | 1.19% | 1.77% | 1.33% | 0.00% | 0.66% | 14.92% |
Benchmark Metrics
AlphaCentric Income Opportunities Fund has an annualized alpha of 1.16%, beta of 0.07, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since January 04, 2016.
- This fund participated in 36.79% of S&P 500 Index downside but only 20.05% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.07 may look defensive, but with R2 of 0.02 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 0.02 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.
- Alpha
- 1.16%
- Beta
- 0.07
- R²
- 0.02
- Upside Capture
- 20.05%
- Downside Capture
- 36.79%
Expense Ratio
IOFIX has a high expense ratio of 1.65%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
IOFIX ranks 31 for risk / return — below 31% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for AlphaCentric Income Opportunities Fund (IOFIX) 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.
| IOFIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.30 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 2.25 | -0.39 |
| Martin ratioReturn relative to average drawdown | 5.31 | 10.14 | -4.83 |
Dividends
Dividend History
AlphaCentric Income Opportunities Fund provided a 8.47% dividend yield over the last twelve months, with an annual payout of $0.60 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.60 | $0.55 | $0.60 | $0.60 | $0.50 | $0.48 | $0.53 | $0.61 | $0.62 | $0.59 | $0.56 |
Dividend yield | 8.47% | 7.44% | 8.16% | 7.52% | 5.51% | 3.94% | 4.76% | 4.70% | 5.06% | 4.83% | 4.97% |
Monthly Dividends
The table displays the monthly dividend distributions for AlphaCentric Income Opportunities 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 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.00 | $0.25 | ||||||
| 2025 | $0.00 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.55 |
| 2024 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.60 |
| 2023 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.60 |
| 2022 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.05 | $0.50 |
| 2021 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.48 |
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 AlphaCentric Income Opportunities 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 AlphaCentric Income Opportunities Fund was 45.49%, occurring on Mar 25, 2020. The portfolio has not yet recovered.
The current AlphaCentric Income Opportunities Fund drawdown is 21.13%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -45.49%Mar 2020 | 16d | — | 6y 3moMar 2020 - now |
Rate-hike selloffLate 2018 | -1.29%Nov 2018 | 0s | 2mo 27d | 2mo 27dNov 2018 - Feb 2019 |
2016 pullback2016 | -1.16%Feb 2016 | 1mo 10d | 1mo 11d | 2mo 21dJan 2016 - Mar 2016 |
2018 pullback2018 | -0.90%Jan 2018 | 1mo 8d | 26d | 2mo 4dNov 2017 - Jan 2018 |
2019 pullback2019 | -0.79%Apr 2019 | 5d | 22d | 27dApr 2019 - May 2019 |
Drawdown Indicators
| IOFIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.49% | -56.78% | +11.29% |
Max Drawdown (1Y)Largest decline over 1 year | -2.98% | -9.10% | +6.12% |
Max Drawdown (3Y)Largest decline over 3 years | -9.74% | -18.90% | +9.16% |
Max Drawdown (5Y)Largest decline over 5 years | -30.50% | -25.43% | -5.07% |
Max Drawdown (10Y)Largest decline over 10 years | -45.49% | -33.92% | -11.57% |
Current DrawdownCurrent decline from peak | -21.13% | -4.50% | -16.63% |
Average DrawdownAverage peak-to-trough decline | -11.78% | -10.72% | -1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 2.01% | -0.97% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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