- Issuer
- Stone Ridge
- Inception Date
- Feb 1, 2013
- Category
- Multistrategy
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
SHRIX Performance Chart
Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) is up 1.8% since the beginning of the year. SHRIX is currently trading at $9 per share. Investors who bought $1,000 worth of SHRIX shares 5 years ago would now be looking at an investment worth $1,546.
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Returns By Period
Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) has returned 1.80% so far this year and 12.17% over the past 12 months.
Stone Ridge High Yield Reinsurance Risk Premium Fund Class I
- 1D
- 0.00%
- 1M
- 0.55%
- YTD
- 1.80%
- 6M
- 2.02%
- 1Y
- 12.17%
- 3Y*
- 13.13%
- 5Y*
- 9.10%
- 10Y*
- —
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%
SHRIX Monthly Returns History
Based on dividend-adjusted daily data since Jun 12, 2017, SHRIX's average daily return is +0.02%, while the average monthly return is +0.49%. At this rate, an investment would double in approximately 11.8 years.
Historically, 77% of months were positive and 23% were negative. The best month was Oct 2022 with a return of +3.7%, while the worst month was Sep 2022 at -11.8%. The longest winning streak lasted 27 consecutive months, and the longest losing streak was 3 months.
On a daily basis, SHRIX closed higher 34% of trading days. The best single day was Dec 20, 2024 with a return of +6.1%, while the worst single day was Sep 8, 2017 at -7.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.79% | 0.67% | -1.44% | 0.67% | 0.67% | 0.44% | 1.80% | ||||||
| 2025 | -0.56% | 0.11% | -1.12% | 0.68% | 0.68% | 1.03% | 1.70% | 2.12% | 2.51% | 1.21% | 1.09% | 0.82% | 10.70% |
| 2024 | 1.59% | 1.45% | 0.90% | 0.89% | 0.11% | 0.97% | 1.56% | 2.75% | 1.96% | 0.43% | 1.51% | 1.48% | 16.73% |
| 2023 | 2.06% | 1.90% | 1.10% | 1.77% | 1.74% | 1.74% | 1.37% | 2.14% | 1.20% | 2.34% | 1.52% | 0.40% | 21.07% |
| 2022 | 0.45% | 0.22% | -0.06% | 0.00% | -0.11% | -0.30% | 0.57% | 1.14% | -11.81% | 3.72% | 2.72% | 0.89% | -3.37% |
| 2021 | 0.22% | -0.77% | 0.74% | 0.44% | 0.66% | 0.25% | 0.55% | -0.98% | 0.94% | -0.44% | 0.67% | -0.40% | 1.88% |
Benchmark Metrics
Stone Ridge High Yield Reinsurance Risk Premium Fund Class I has an annualized alpha of 5.80%, beta of 0.02, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since June 12, 2017.
- This fund captured 15.67% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -1.12%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.02 may look defensive, but with R2 of 0.00 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 0.00 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
- 5.80%
- Beta
- 0.02
- R²
- 0.00
- Upside Capture
- 15.67%
- Downside Capture
- -1.12%
Expense Ratio
SHRIX has a high expense ratio of 1.76%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
SHRIX ranks 98 for risk / return — in the top 98% 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 Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) 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.
| SHRIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.16 | ||
| Sortino ratioReturn per unit of downside risk | +3.24 | ||
| Omega ratioGain probability vs. loss probability | 4.97 | 1.37 | +3.60 |
| Calmar ratioReturn relative to maximum drawdown | 6.53 | 2.78 | +3.75 |
| Martin ratioReturn relative to average drawdown | 22.69 | 12.44 | +10.25 |
Dividends
Dividend History
Stone Ridge High Yield Reinsurance Risk Premium Fund Class I provided a 8.40% dividend yield over the last twelve months, with an annual payout of $0.76 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.76 | $0.97 | $1.28 | $1.09 | $0.32 | $0.41 | $0.58 | $0.46 | $0.46 | $0.03 |
Dividend yield | 8.40% | 10.92% | 14.34% | 12.34% | 3.89% | 4.61% | 6.34% | 5.06% | 5.09% | 0.35% |
Monthly Dividends
The table displays the monthly dividend distributions for Stone Ridge High Yield Reinsurance Risk Premium Fund Class I. 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 | $0.21 | $0.00 | $0.00 | $0.29 | $0.00 | $0.00 | $0.48 | $0.97 |
| 2024 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.29 | $0.00 | $0.00 | $0.60 | $1.28 |
| 2023 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.54 | $1.09 |
| 2022 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.13 | $0.32 |
| 2021 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.18 | $0.41 |
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 Stone Ridge High Yield Reinsurance Risk Premium Fund Class I. 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 Stone Ridge High Yield Reinsurance Risk Premium Fund Class I was 14.34%, occurring on Sep 8, 2017. Recovery took 532 trading sessions.
The current Stone Ridge High Yield Reinsurance Risk Premium Fund Class I drawdown is 0.11%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2017 correction2017 | -14.34%Sep 2017 | 2mo 17d | 2y 1mo | 2y 4moJun 2017 - Oct 2019 |
Bear market2022 | -12.69%Sep 2022 | 11d | 6mo 26d | 7mo 7dSep 2022 - Apr 2023 |
2024 pullback2024 | -6.91%Oct 2024 | 2d | 22d | 24dOct 2024 - Oct 2024 |
2025 selloff2025 | -6.78%Mar 2025 | 2mo 28d | 5mo 23d | 8mo 21dDec 2024 - Sep 2025 |
2024 pullback2024 | -2.09%Jul 2024 | 8d | 1mo 1d | 1mo 9dJun 2024 - Aug 2024 |
Drawdown Indicators
| SHRIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.34% | -56.78% | +42.44% |
Max Drawdown (1Y)Largest decline over 1 year | -1.87% | -9.10% | +7.23% |
Max Drawdown (3Y)Largest decline over 3 years | -6.91% | -18.90% | +11.99% |
Max Drawdown (5Y)Largest decline over 5 years | -12.69% | -25.43% | +12.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.11% | -1.80% | +1.69% |
Average DrawdownAverage peak-to-trough decline | -2.05% | -10.71% | +8.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 2.03% | -1.49% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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