- ISIN
- US3499031389
- CUSIP
- 349903138
- Issuer
- BlackRock
- Inception Date
- Sep 22, 2010
- Category
- Options Trading
- Min. Investment
- $50,000
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
Share Price Chart
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Performance
MAIPX Performance Chart
MAI Managed Volatility Fund (MAIPX) is up 7.1% since the beginning of the year. MAIPX is currently trading at $18 per share. Investors who bought $1,000 worth of MAIPX shares 5 years ago would now be looking at an investment worth $1,433.
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Returns By Period
MAI Managed Volatility Fund (MAIPX) has returned 7.11% so far this year and 12.04% over the past 12 months. Over the last ten years, MAIPX has returned 7.23% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
MAI Managed Volatility Fund
- 1D
- 0.51%
- 1M
- 1.09%
- 6M
- 7.38%
- YTD
- 7.11%
- 1Y
- 12.04%
- 3Y*
- 10.10%
- 5Y*
- 7.46%
- 10Y*
- 7.23%
- ALL TIME*
- 6.65%
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%
MAIPX Monthly Returns History
Based on dividend-adjusted daily data since Sep 30, 2010, MAIPX's average daily return is +0.03%, while the average monthly return is +0.56%. At this rate, an investment would double in approximately 10.3 years.
Historically, 71% of months were positive and 29% were negative. The best month was Apr 2020 with a return of +8.3%, while the worst month was Mar 2020 at -9.4%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 5 months.
On a daily basis, MAIPX closed higher 51% of trading days. The best single day was Mar 13, 2020 with a return of +8.5%, while the worst single day was Mar 16, 2020 at -10.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.24% | -0.00% | -0.74% | 5.09% | 1.93% | -0.90% | 1.91% | 7.11% | |||||
| 2025 | 1.71% | 0.06% | -2.47% | -1.00% | 3.90% | 2.61% | 1.14% | 0.75% | 1.62% | 1.04% | 0.36% | 0.23% | 10.28% |
| 2024 | 0.84% | 0.49% | 0.75% | -0.76% | 1.53% | 0.80% | 0.61% | 1.29% | 1.22% | -0.07% | 1.67% | -0.02% | 8.64% |
| 2023 | 2.07% | -0.87% | 1.86% | 1.22% | 0.14% | 0.92% | 0.85% | 0.21% | -0.79% | 0.21% | 3.12% | 1.22% | 10.58% |
| 2022 | -1.32% | -1.34% | 1.65% | -4.37% | 1.25% | -4.56% | 4.95% | -1.16% | -5.20% | 5.43% | 3.02% | -1.30% | -3.59% |
| 2021 | -0.63% | 1.50% | 2.88% | 0.91% | 1.13% | 0.67% | 1.03% | 0.88% | -1.23% | 3.15% | -0.14% | 2.06% | 12.81% |
Benchmark Metrics
MAI Managed Volatility Fund has an annualized alpha of -0.10%, beta of 0.53, and R2 of 0.85 versus S&P 500 Index. Calculated based on daily prices since September 30, 2010.
- This fund participated in 44.07% of S&P 500 Index downside but only 41.55% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.53 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- -0.10%
- Beta
- 0.53
- R²
- 0.85
- Upside Capture
- 41.55%
- Downside Capture
- 44.07%
Expense Ratio
MAIPX has a high expense ratio of 0.99%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MAIPX ranks 93 for risk / return — above 93% of mutual funds peers on PortfoliosLab. Its historical combined result is among the stronger results in the peer group.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for MAI Managed Volatility Fund (MAIPX) 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.
| MAIPX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.25 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.81 | 2.00 | +1.81 |
| Martin ratioReturn relative to average drawdown | 19.51 | 8.49 | +11.02 |
Dividends
Dividend History
MAI Managed Volatility Fund provided a 1.07% dividend yield over the last twelve months, with an annual payout of $0.19 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.19 | $0.22 | $0.33 | $0.66 | $0.31 | $0.00 | $0.04 | $0.21 | $0.31 | $0.24 | $0.09 | $0.43 |
Dividend yield | 1.07% | 1.33% | 2.20% | 4.59% | 2.26% | 0.00% | 0.32% | 1.74% | 2.89% | 2.12% | 0.80% | 4.17% |
Monthly Dividends
The table displays the monthly dividend distributions for MAI Managed Volatility 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 | $0.04 | $0.00 | $0.00 | $0.05 | $0.00 | $0.09 | |||||
| 2025 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.05 | $0.22 |
| 2024 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.08 | $0.33 |
| 2023 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.43 | $0.66 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.28 | $0.31 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
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 MAI Managed Volatility 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 MAI Managed Volatility Fund was 25.69%, occurring on Mar 23, 2020. Recovery took 159 trading sessions.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-25.69%Mar 2020 | 1mo 1d | 7mo 17d | 8mo 18dFeb 2020 - Nov 2020 | COVID crash2020 |
-13.58%Dec 2018 | 2mo 21d | 3mo 25d | 6mo 16dOct 2018 - Apr 2019 | Rate-hike selloffLate 2018 |
-11.77%Apr 2025 | 1mo 17d | 1mo 25d | 3mo 12dFeb 2025 - Jun 2025 | 2025 selloff2025 |
-11.54%Jun 2022 | 5mo 12d | 10mo 1d | 1y 3moJan 2022 - Apr 2023 | Bear market2022 |
-10.25%Aug 2011 | 3mo 8d | 4mo 15d | 7mo 23dMay 2011 - Dec 2011 | — |
Drawdown Indicators
| MAIPX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.69% | -56.78% | +31.09% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -9.10% | +6.00% |
Max Drawdown (3Y)Largest decline over 3 years | -11.77% | -18.90% | +7.13% |
Max Drawdown (5Y)Largest decline over 5 years | -11.77% | -25.43% | +13.66% |
Max Drawdown (10Y)Largest decline over 10 years | -25.69% | -33.92% | +8.23% |
Current DrawdownCurrent decline from peak | 0.00% | -1.58% | +1.58% |
Average DrawdownAverage peak-to-trough decline | -1.42% | -10.70% | +9.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 2.14% | -1.54% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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