- Issuer
- STONE RIDGE
- Inception Date
- Apr 29, 2020
- Category
- Multistrategy
- Min. Investment
- $500,000
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
SRDAX Performance Chart
Stone Ridge Diversified Alternatives Fund (SRDAX) is up 5.2% since the beginning of the year. SRDAX is currently trading at $10 per share. Investors who bought $1,000 worth of SRDAX shares 5 years ago would now be looking at an investment worth $1,488.
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Returns By Period
Stone Ridge Diversified Alternatives Fund (SRDAX) has returned 5.17% so far this year and 10.42% over the past 12 months.
Stone Ridge Diversified Alternatives Fund
- 1D
- 0.39%
- 1M
- 1.27%
- YTD
- 5.17%
- 6M
- 4.97%
- 1Y
- 10.42%
- 3Y*
- 7.93%
- 5Y*
- 8.28%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.74%
- 1M
- 4.90%
- YTD
- 10.35%
- 6M
- 10.28%
- 1Y
- 26.52%
- 3Y*
- 20.83%
- 5Y*
- 12.30%
- 10Y*
- 13.66%
SRDAX Monthly Returns History
Based on dividend-adjusted daily data since Oct 16, 2020, SRDAX's average daily return is +0.03%, while the average monthly return is +0.67%. At this rate, an investment would double in approximately 8.7 years.
Historically, 77% of months were positive and 23% were negative. The best month was Feb 2023 with a return of +2.9%, while the worst month was Apr 2025 at -6.0%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 2 months.
On a daily basis, SRDAX closed higher 51% of trading days. The best single day was Dec 16, 2021 with a return of +9.0%, while the worst single day was Dec 17, 2021 at -8.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -2.13% | 2.38% | 2.63% | 0.99% | 0.68% | 0.58% | 5.17% | ||||||
| 2025 | -0.28% | -0.47% | 1.32% | -5.96% | 1.09% | -0.10% | 1.67% | 0.97% | 1.91% | -0.56% | 1.13% | -0.09% | 0.37% |
| 2024 | 1.03% | -1.30% | 0.75% | 0.28% | -0.84% | 0.00% | 1.13% | 2.14% | 2.27% | 0.44% | 0.27% | 2.04% | 8.46% |
| 2023 | 2.24% | 2.86% | 0.56% | 1.75% | 1.27% | 0.54% | 2.05% | 2.79% | 2.21% | 2.24% | -0.89% | 0.45% | 19.56% |
| 2022 | 0.19% | 0.96% | -1.53% | -0.00% | 0.87% | -2.30% | 0.10% | 1.08% | -3.59% | 1.71% | 2.77% | 1.93% | 2.03% |
| 2021 | 0.39% | 0.88% | 1.26% | 0.10% | 0.19% | 1.24% | 0.94% | 1.02% | 1.75% | 1.36% | -0.71% | 1.76% | 10.62% |
Benchmark Metrics
Stone Ridge Diversified Alternatives Fund has an annualized alpha of 8.79%, beta of -0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since October 19, 2020.
- This fund captured 15.67% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -17.66%) - a profile typical of hedging or uncorrelated assets.
- Beta of -0.00 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
- 8.79%
- Beta
- -0.00
- R²
- 0.00
- Upside Capture
- 15.67%
- Downside Capture
- -17.66%
Expense Ratio
SRDAX has a high expense ratio of 1.27%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
SRDAX ranks 89 for risk / return — in the top 89% 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 Diversified Alternatives Fund (SRDAX) and compare them to S&P 500 Index.
| SRDAX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.30 | 2.24 | +1.06 |
Sortino ratioReturn per unit of downside risk | 4.76 | 3.07 | +1.68 |
Omega ratioGain probability vs. loss probability | 1.67 | 1.41 | +0.27 |
Calmar ratioReturn relative to maximum drawdown | 4.00 | 2.93 | +1.07 |
Martin ratioReturn relative to average drawdown | 15.69 | 13.52 | +2.17 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Stone Ridge Diversified Alternatives Fund provided a 8.11% dividend yield over the last twelve months, with an annual payout of $0.84 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Dividend | $0.84 | $0.84 | $0.87 | $1.59 | $0.33 | $0.93 | $0.31 |
Dividend yield | 8.11% | 8.53% | 8.16% | 14.97% | 3.22% | 8.99% | 3.07% |
Monthly Dividends
The table displays the monthly dividend distributions for Stone Ridge Diversified Alternatives 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 | $0.84 | $0.84 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.87 | $0.87 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.59 | $1.59 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.33 | $0.33 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.93 | $0.93 |
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 Diversified Alternatives 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 Stone Ridge Diversified Alternatives Fund was 11.90%, occurring on Oct 4, 2022. Recovery took 128 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -11.90%Oct 2022 | 9mo 21d | 6mo 8d | 1y 3moDec 2021 - Apr 2023 |
2025 selloff2025 | -6.15%Apr 2025 | 10d | 7mo 14d | 7mo 24dApr 2025 - Nov 2025 |
2026 pullback2026 | -2.67%Jan 2026 | 1mo 26d | 1mo 4d | 3moDec 2025 - Mar 2026 |
2024 pullback2024 | -2.49%Oct 2024 | 8d | 22d | 1moOct 2024 - Oct 2024 |
2025 selloff2025 | -2.06%Mar 2025 | 12d | 19d | 1mo 1dFeb 2025 - Mar 2025 |
Drawdown Indicators
| SRDAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.90% | -56.78% | +44.88% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -9.10% | +6.43% |
Max Drawdown (3Y)Largest decline over 3 years | -6.15% | -18.90% | +12.75% |
Max Drawdown (5Y)Largest decline over 5 years | -11.90% | -25.43% | +13.53% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.74% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -10.72% | +8.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 1.97% | -1.29% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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