- ISIN
- US4614186421
- CUSIP
- 461418642
- Issuer
- BlackRock
- Inception Date
- Oct 14, 2010
- Category
- Options Trading
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
IRONX Performance Chart
Ironclad Managed Risk Fund (IRONX) is up 4.1% since the beginning of the year. IRONX is currently trading at $14 per share. Investors who bought $1,000 worth of IRONX shares 5 years ago would now be looking at an investment worth $1,540.
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Returns By Period
Ironclad Managed Risk Fund (IRONX) has returned 4.08% so far this year and 10.64% over the past 12 months. Looking at the last ten years, IRONX has achieved an annualized return of 26.53%, outperforming the S&P 500 Index benchmark, which averaged 13.26% per year.
Ironclad Managed Risk Fund
- 1D
- 0.94%
- 1M
- -0.28%
- 6M
- 3.01%
- YTD
- 4.08%
- 1Y
- 10.64%
- 3Y*
- 10.30%
- 5Y*
- 9.02%
- 10Y*
- 26.53%
- ALL TIME*
- 18.51%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
IRONX Monthly Returns History
Based on dividend-adjusted daily data since Oct 14, 2010, IRONX's average daily return is +0.08%, while the average monthly return is +1.72%. At this rate, an investment would double in approximately 3.4 years.
Historically, 67% of months were positive and 33% were negative. The best month was Feb 2019 with a return of +73.0%, while the worst month was Aug 2015 at -6.2%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 4 months.
On a daily basis, IRONX closed higher 43% of trading days. The best single day was Feb 7, 2019 with a return of +72.9%, while the worst single day was Aug 8, 2011 at -5.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.04% | -0.88% | -3.19% | 6.05% | 2.53% | -1.13% | -0.14% | 4.08% | |||||
| 2025 | 1.56% | -1.21% | -1.64% | -1.66% | 3.72% | 3.02% | 1.50% | 1.33% | 2.69% | 1.80% | -0.07% | -0.75% | 10.57% |
| 2024 | 1.03% | 3.44% | 2.25% | -2.99% | 2.72% | 2.56% | 1.12% | 1.28% | 1.43% | -0.99% | 4.60% | -2.30% | 14.78% |
| 2023 | 2.37% | -1.83% | 1.87% | 0.58% | 0.10% | 3.54% | 2.04% | -2.09% | -1.39% | -1.22% | 3.71% | 2.70% | 10.61% |
| 2022 | -3.94% | -0.50% | 1.91% | -2.76% | 1.83% | -3.69% | 5.07% | -2.27% | -2.22% | 7.42% | 2.88% | -2.74% | 0.26% |
| 2021 | -0.38% | 0.57% | 1.71% | 3.84% | 0.00% | 0.36% | 1.44% | 1.15% | -2.45% | 3.68% | -0.26% | 3.03% | 13.24% |
Benchmark Metrics
Ironclad Managed Risk Fund has an annualized alpha of 17.03%, beta of 0.39, and R2 of 0.04 versus S&P 500 Index. Calculated based on daily prices since October 14, 2010.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (82.57%) than losses (38.29%) - typical of diversified or defensive assets.
- Beta of 0.39 may look defensive, but with R2 of 0.04 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 0.04 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
- 17.03%
- Beta
- 0.39
- R²
- 0.04
- Upside Capture
- 82.57%
- Downside Capture
- 38.29%
Expense Ratio
IRONX has a high expense ratio of 1.25%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
IRONX ranks 31 for risk / return — above 31% of mutual funds peers on PortfoliosLab. Its historical combined result is below the peer median.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Ironclad Managed Risk Fund (IRONX) 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.
| IRONX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.25 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.52 | 2.00 | -0.48 |
| Martin ratioReturn relative to average drawdown | 5.44 | 8.49 | -3.05 |
Dividends
Dividend History
Ironclad Managed Risk Fund provided a 0.06% dividend yield over the last twelve months, with an annual payout of $0.01 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.01 | $0.01 | $0.02 | $0.55 | $0.30 | $1.44 | $0.44 | $12.56 | $0.85 | $1.01 | $0.15 | $0.04 |
Dividend yield | 0.06% | 0.06% | 0.19% | 5.17% | 2.97% | 13.84% | 4.16% | 121.75% | 8.85% | 9.93% | 1.42% | 0.38% |
Monthly Dividends
The table displays the monthly dividend distributions for Ironclad Managed Risk 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 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.02 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.55 | $0.55 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.30 | $0.30 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.44 | $1.44 |
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 Ironclad Managed Risk 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 Ironclad Managed Risk Fund was 13.71%, occurring on Mar 23, 2020. Recovery took 106 trading sessions.
The current Ironclad Managed Risk Fund drawdown is 1.34%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-13.71%Mar 2020 | 1mo 2d | 5mo 1d | 6mo 3dFeb 2020 - Aug 2020 | COVID crash2020 |
-12.86%Aug 2011 | 2mo 8d | 4mo 3d | 6mo 11dJun 2011 - Dec 2011 | — |
-11.68%Apr 2025 | 4mo | 2mo 19d | 6mo 19dDec 2024 - Jun 2025 | 2025 selloff2025 |
-10.71%Jan 2016 | 5mo 5d | 1y 6mo | 1y 12moAug 2015 - Aug 2017 | — |
-9.27%Jun 2022 | 5mo 21d | 4mo 13d | 10mo 4dDec 2021 - Oct 2022 | Bear market2022 |
Drawdown Indicators
| IRONX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.71% | -56.78% | +43.07% |
Max Drawdown (1Y)Largest decline over 1 year | -5.99% | -9.10% | +3.11% |
Max Drawdown (3Y)Largest decline over 3 years | -11.68% | -18.90% | +7.22% |
Max Drawdown (5Y)Largest decline over 5 years | -11.68% | -25.43% | +13.75% |
Max Drawdown (10Y)Largest decline over 10 years | -13.71% | -33.92% | +20.21% |
Current DrawdownCurrent decline from peak | -1.34% | -1.58% | +0.24% |
Average DrawdownAverage peak-to-trough decline | -1.77% | -10.70% | +8.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 2.14% | -0.46% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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