- ISIN
- US04537J2015
- Issuer
- Aspiriant
- Inception Date
- Dec 13, 2015
- Category
- Multistrategy
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
- Asset Class Size
- Large-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
RMDFX Performance Chart
Aspiriant Defensive Allocation Fund (RMDFX) is up 6.4% since the beginning of the year. RMDFX is currently trading at $13 per share. Investors who bought $1,000 worth of RMDFX shares 5 years ago would now be looking at an investment worth $1,308.
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Returns By Period
Aspiriant Defensive Allocation Fund (RMDFX) has returned 6.40% so far this year and 18.52% over the past 12 months. Over the last ten years, RMDFX has returned 5.33% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Aspiriant Defensive Allocation Fund
- 1D
- 0.08%
- 1M
- -0.08%
- YTD
- 6.40%
- 6M
- 6.58%
- 1Y
- 18.52%
- 3Y*
- 10.42%
- 5Y*
- 5.51%
- 10Y*
- 5.33%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
RMDFX Monthly Returns History
Based on dividend-adjusted daily data since Jan 4, 2016, RMDFX's average daily return is +0.02%, while the average monthly return is +0.43%. At this rate, an investment would double in approximately 13.5 years.
Historically, 67% of months were positive and 33% were negative. The best month was Apr 2020 with a return of +4.7%, while the worst month was Mar 2020 at -8.3%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 5 months.
On a daily basis, RMDFX closed higher 47% of trading days. The best single day was Dec 30, 2021 with a return of +5.4%, while the worst single day was Dec 31, 2021 at -5.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.70% | 2.76% | -3.08% | 2.04% | 1.60% | -0.63% | 6.40% | ||||||
| 2025 | 2.20% | 0.84% | 0.93% | 0.83% | 1.00% | 1.62% | 0.36% | 2.39% | 2.42% | 1.52% | 1.66% | 1.65% | 18.85% |
| 2024 | 0.19% | 1.06% | 2.30% | 0.00% | 1.97% | -1.01% | 1.67% | -0.09% | 1.00% | -1.18% | -0.18% | -4.12% | 1.45% |
| 2023 | 2.22% | -0.89% | 0.50% | 0.89% | -1.57% | 1.90% | 1.67% | -0.58% | -0.00% | -0.39% | 1.95% | 2.13% | 8.01% |
| 2022 | -0.65% | -0.28% | -0.57% | -1.90% | 0.10% | -3.67% | 0.90% | -1.09% | -3.31% | 0.73% | 2.68% | 0.18% | -6.84% |
| 2021 | 0.09% | -0.28% | 0.65% | 1.75% | 2.44% | -1.50% | 0.09% | 0.45% | -1.34% | 0.81% | -1.25% | 2.31% | 4.20% |
Benchmark Metrics
Aspiriant Defensive Allocation Fund has an annualized alpha of 2.57%, beta of 0.18, and R2 of 0.29 versus S&P 500 Index. Calculated based on daily prices since January 04, 2016.
- This fund participated in 32.33% of S&P 500 Index downside but only 28.66% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.18 may look defensive, but with R2 of 0.29 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 0.29 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
- 2.57%
- Beta
- 0.18
- R²
- 0.29
- Upside Capture
- 28.66%
- Downside Capture
- 32.33%
Expense Ratio
RMDFX has an expense ratio of 0.18%, which is considered low.
Return for Risk
Risk / Return Rank
RMDFX ranks 95 for risk / return — in the top 95% 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 Aspiriant Defensive Allocation Fund (RMDFX) 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.
| RMDFX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.85 | ||
| Sortino ratioReturn per unit of downside risk | +2.61 | ||
| Omega ratioGain probability vs. loss probability | 1.84 | 1.37 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 4.42 | 2.78 | +1.63 |
| Martin ratioReturn relative to average drawdown | 17.05 | 12.44 | +4.61 |
Dividends
Dividend History
Aspiriant Defensive Allocation Fund provided a 4.36% dividend yield over the last twelve months, with an annual payout of $0.55 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.55 | $0.55 | $0.00 | $0.38 | $0.08 | $0.57 | $0.25 | $0.40 | $0.40 | $0.23 | $0.12 |
Dividend yield | 4.36% | 4.63% | 0.00% | 3.69% | 0.78% | 5.37% | 2.28% | 3.78% | 4.11% | 2.16% | 1.16% |
Monthly Dividends
The table displays the monthly dividend distributions for Aspiriant Defensive Allocation 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.55 | $0.55 |
| 2024 | $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 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.38 | $0.38 |
| 2022 | $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 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.57 | $0.57 |
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 Aspiriant Defensive Allocation 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 Aspiriant Defensive Allocation Fund was 15.96%, occurring on Mar 19, 2020. Recovery took 161 trading sessions.
The current Aspiriant Defensive Allocation Fund drawdown is 0.94%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -15.96%Mar 2020 | 1mo 28d | 7mo 21d | 9mo 19dJan 2020 - Nov 2020 |
Bear market2022 | -14.63%Sep 2022 | 9mo 2d | 1y 7mo | 2y 4moDec 2021 - May 2024 |
Rate-hike selloffLate 2018 | -9.05%Dec 2018 | 10mo 26d | 11mo 9d | 1y 10moJan 2018 - Nov 2019 |
2024 pullback2024 | -5.79%Dec 2024 | 2mo 23d | 5mo 5d | 7mo 28dOct 2024 - May 2025 |
2026 pullback2026 | -4.19%Mar 2026 | 18d | 1mo 19d | 2mo 7dMar 2026 - May 2026 |
Drawdown Indicators
| RMDFX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.96% | -56.78% | +40.82% |
Max Drawdown (1Y)Largest decline over 1 year | -4.19% | -9.10% | +4.91% |
Max Drawdown (3Y)Largest decline over 3 years | -5.79% | -18.90% | +13.11% |
Max Drawdown (5Y)Largest decline over 5 years | -14.63% | -25.43% | +10.80% |
Max Drawdown (10Y)Largest decline over 10 years | -15.96% | -33.92% | +17.96% |
Current DrawdownCurrent decline from peak | -0.94% | -1.80% | +0.86% |
Average DrawdownAverage peak-to-trough decline | -3.32% | -10.71% | +7.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 2.03% | -0.95% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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