Vivaldi Merger Arbitrage Fund Class I (VARBX)
Fund Info
US46141T8696
46141T869
Oct 1, 2015
$500,000
Expense Ratio
VARBX has a high expense ratio of 1.81%, indicating above-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Vivaldi Merger Arbitrage Fund Class I, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Vivaldi Merger Arbitrage Fund Class I (VARBX) returned 2.18% year-to-date (YTD) and 1.71% over the past 12 months.
VARBX
2.18%
1.03%
-0.66%
1.71%
2.44%
N/A
^GSPC (Benchmark)
-4.67%
10.50%
-3.04%
8.23%
14.30%
10.26%
Monthly Returns
The table below presents the monthly returns of VARBX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.47% | 0.47% | 0.47% | 0.65% | 0.09% | 2.18% | |||||||
| 2024 | 0.28% | 0.66% | 0.56% | 0.56% | 0.64% | 0.37% | 0.46% | 0.36% | 0.36% | 0.45% | 0.27% | -3.13% | 1.79% |
| 2023 | 0.47% | 0.28% | -0.19% | 0.37% | -0.65% | 0.37% | 0.37% | 0.37% | 0.55% | 0.46% | 0.55% | -0.33% | 2.65% |
| 2022 | -0.10% | 0.38% | 0.47% | -0.19% | -0.66% | -0.19% | 0.48% | 0.38% | 0.09% | 0.75% | 0.65% | -0.34% | 1.74% |
| 2021 | 3.23% | 1.07% | -1.24% | 0.63% | -0.27% | 0.53% | 0.36% | 0.09% | 0.35% | 0.35% | 0.18% | -5.18% | -0.11% |
| 2020 | 0.19% | -0.28% | -2.09% | 0.97% | 0.10% | 0.10% | 0.10% | 0.19% | 0.48% | -0.38% | 1.72% | 2.07% | 3.14% |
| 2019 | 0.66% | 0.19% | 0.09% | 1.02% | -0.28% | -0.18% | 1.02% | 0.28% | 0.27% | 0.27% | 0.45% | -4.89% | -1.22% |
| 2018 | 0.48% | 0.67% | -1.89% | -2.22% | 1.78% | 1.65% | 0.00% | 0.67% | 0.66% | -0.85% | 2.56% | -0.27% | 3.17% |
| 2017 | -0.77% | 0.49% | 0.87% | 0.29% | 0.76% | 0.66% | 0.38% | 0.38% | 0.09% | 0.28% | -1.40% | -1.32% | 0.68% |
| 2016 | -0.00% | 0.88% | 1.46% | -0.38% | 0.86% | -0.00% | -0.76% | -1.15% | 0.10% | 0.10% | 0.29% | 0.29% | 1.67% |
| 2015 | -0.20% | 0.60% | 1.39% | 1.80% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of VARBX is 52, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Vivaldi Merger Arbitrage Fund Class I (VARBX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Vivaldi Merger Arbitrage Fund Class I provided a 6.16% dividend yield over the last twelve months, with an annual payout of $0.66 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.66 | $0.66 | $0.43 | $0.08 | $0.89 | $0.09 | $0.58 | $0.23 | $0.18 | $0.01 | $0.00 |
Dividend yield | 6.16% | 6.29% | 4.07% | 0.75% | 8.42% | 0.81% | 5.54% | 2.15% | 1.70% | 0.06% | 0.04% |
Monthly Dividends
The table displays the monthly dividend distributions for Vivaldi Merger Arbitrage 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.66 | $0.66 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.43 | $0.43 |
| 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 | $0.89 | $0.89 |
| 2020 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.09 | $0.09 |
| 2019 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.58 | $0.58 |
| 2018 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.23 | $0.23 |
| 2017 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.18 | $0.18 |
| 2016 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 |
| 2015 | $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.
Worst Drawdowns
The table below displays the maximum drawdowns of the Vivaldi Merger Arbitrage 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 Vivaldi Merger Arbitrage Fund Class I was 9.50%, occurring on Mar 16, 2020. Recovery took 209 trading sessions.
The current Vivaldi Merger Arbitrage Fund Class I drawdown is 1.02%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -9.5% | Dec 3, 2019 | 71 | Mar 16, 2020 | 209 | Jan 12, 2021 | 280 |
| -6.61% | Nov 2, 2017 | 125 | May 3, 2018 | 142 | Nov 23, 2018 | 267 |
| -6.4% | Feb 22, 2021 | 332 | Jun 14, 2022 | 449 | Mar 28, 2024 | 781 |
| -3.41% | Dec 5, 2024 | 1 | Dec 5, 2024 | — | — | — |
| -2.85% | Jun 24, 2016 | 44 | Aug 25, 2016 | 191 | May 31, 2017 | 235 |
Volatility
Volatility Chart
The current Vivaldi Merger Arbitrage Fund Class I volatility is 0.70%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.