- Issuer
- Equitable
- Inception Date
- Jul 6, 2015
- Category
- Multistrategy
- 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
TNMAX Performance Chart
1290 Multi-Alternative Strategies Fund Class A (TNMAX) is up 9.1% since the beginning of the year. TNMAX is currently trading at $11 per share. Investors who bought $1,000 worth of TNMAX shares 5 years ago would now be looking at an investment worth $1,227.
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Returns By Period
1290 Multi-Alternative Strategies Fund Class A (TNMAX) has returned 9.10% so far this year and 18.11% over the past 12 months. Over the last ten years, TNMAX has returned 3.77% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
1290 Multi-Alternative Strategies Fund Class A
- 1D
- 0.26%
- 1M
- -0.96%
- YTD
- 9.10%
- 6M
- 8.48%
- 1Y
- 18.11%
- 3Y*
- 11.30%
- 5Y*
- 4.18%
- 10Y*
- 3.77%
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%
TNMAX Monthly Returns History
Based on dividend-adjusted daily data since Jan 4, 2016, TNMAX's average daily return is +0.02%, while the average monthly return is +0.35%. At this rate, an investment would double in approximately 16.5 years.
Historically, 63% of months were positive and 37% were negative. The best month was Nov 2020 with a return of +4.9%, while the worst month was Mar 2020 at -8.7%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 3 months.
On a daily basis, TNMAX closed higher 48% of trading days. The best single day was Apr 9, 2025 with a return of +3.3%, while the worst single day was Mar 16, 2020 at -4.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.12% | 3.40% | -2.22% | 4.09% | 0.44% | -0.87% | 9.10% | ||||||
| 2025 | 2.13% | -0.10% | -0.42% | 0.10% | 1.26% | 2.07% | 0.51% | 2.22% | 2.76% | 1.15% | 0.76% | 0.11% | 13.21% |
| 2024 | -0.23% | 1.26% | 3.06% | -1.21% | 1.45% | 0.77% | 1.20% | 1.40% | 2.12% | -1.04% | 1.99% | -2.03% | 8.95% |
| 2023 | 4.08% | -2.58% | -0.57% | 0.12% | -1.15% | 2.57% | 2.51% | -1.33% | -1.46% | -1.14% | 2.08% | 2.11% | 5.08% |
| 2022 | -2.22% | 0.41% | 1.23% | -3.25% | -1.36% | -3.61% | 1.87% | -1.41% | -4.83% | 0.81% | 2.40% | -1.69% | -11.31% |
| 2021 | 0.66% | 1.68% | -0.18% | 2.48% | 0.90% | 0.53% | -0.71% | 0.18% | -1.69% | 1.90% | -3.28% | 0.64% | 3.00% |
Benchmark Metrics
1290 Multi-Alternative Strategies Fund Class A has an annualized alpha of 0.02%, beta of 0.30, and R2 of 0.59 versus S&P 500 Index. Calculated based on daily prices since January 04, 2016.
- This fund participated in 40.97% of S&P 500 Index downside but only 29.64% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.30 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
- 0.02%
- Beta
- 0.30
- R²
- 0.59
- Upside Capture
- 29.64%
- Downside Capture
- 40.97%
Expense Ratio
TNMAX has a high expense ratio of 1.52%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
TNMAX ranks 81 for risk / return — in the top 81% 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 1290 Multi-Alternative Strategies Fund Class A (TNMAX) 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.
| TNMAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.37 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.97 | 2.78 | +2.18 |
| Martin ratioReturn relative to average drawdown | 17.15 | 12.44 | +4.71 |
Dividends
Dividend History
1290 Multi-Alternative Strategies Fund Class A provided a 1.78% dividend yield over the last twelve months, with an annual payout of $0.20 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.20 | $0.20 | $0.12 | $0.27 | $0.22 | $1.03 | $0.06 | $0.20 | $0.10 | $0.04 | $0.04 |
Dividend yield | 1.78% | 1.94% | 1.33% | 3.12% | 2.59% | 10.42% | 0.55% | 1.92% | 0.97% | 0.37% | 0.37% |
Monthly Dividends
The table displays the monthly dividend distributions for 1290 Multi-Alternative Strategies Fund Class A. 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 | $0.20 | $0.20 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.12 | $0.12 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.27 | $0.27 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.22 | $0.22 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.03 | $1.03 |
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 1290 Multi-Alternative Strategies Fund Class A. 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 1290 Multi-Alternative Strategies Fund Class A was 17.29%, occurring on Mar 19, 2020. Recovery took 172 trading sessions.
The current 1290 Multi-Alternative Strategies Fund Class A drawdown is 1.89%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -17.29%Mar 2020 | 1mo 28d | 8mo 6d | 10mo 4dJan 2020 - Nov 2020 |
Bear market2022 | -16.46%Oct 2022 | 1y 4mo | 2y 3mo | 3y 8moJun 2021 - Feb 2025 |
2025 selloff2025 | -7.27%Apr 2025 | 1mo 18d | 1mo 27d | 3mo 15dFeb 2025 - Jun 2025 |
Rate-hike selloffLate 2018 | -6.75%Dec 2018 | 11mo 3d | 11mo 27d | 1y 10moJan 2018 - Dec 2019 |
2026 pullback2026 | -3.64%Mar 2026 | 23d | 19d | 1mo 12dMar 2026 - Apr 2026 |
Drawdown Indicators
| TNMAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.29% | -56.78% | +39.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.64% | -9.10% | +5.46% |
Max Drawdown (3Y)Largest decline over 3 years | -7.27% | -18.90% | +11.63% |
Max Drawdown (5Y)Largest decline over 5 years | -16.24% | -25.43% | +9.19% |
Max Drawdown (10Y)Largest decline over 10 years | -17.29% | -33.92% | +16.63% |
Current DrawdownCurrent decline from peak | -1.89% | -1.80% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -4.02% | -10.71% | +6.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 2.03% | -0.98% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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