Wavelength Interest Rate Neutral Fund (WAVLX)

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The chart shows the growth of an initial investment of $10,000 in Wavelength Interest Rate Neutral Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Wavelength Interest Rate Neutral Fund (WAVLX) has returned -0.56% so far this year and 7.46% over the past 12 months. Over the last ten years, WAVLX has returned 3.96% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Oct 3, 2013, WAVLX's average daily return is +0.01%, while the average monthly return is +0.27%. At this rate, your investment would double in approximately 21.4 years.

Historically, 63% of months were positive and 37% were negative. The best month was Nov 2023 with a return of +4.3%, while the worst month was Mar 2020 at -6.4%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 6 months.

On a daily basis, WAVLX closed higher 46% of trading days. The best single day was Apr 9, 2025 with a return of +2.5%, while the worst single day was Mar 18, 2020 at -3.5%.

Wavelength Interest Rate Neutral Fund has an annualized alpha of 0.78%, beta of 0.21, and R² of 0.45 versus S&P 500 Index. Calculated based on daily prices since October 04, 2013.

• This fund participated in 35.75% of S&P 500 Index downside but only 26.34% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.21 may look defensive, but with R² of 0.45 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 0.45 means the benchmark explains less than half of this fund's behavior — treat beta with caution or consider switching to a more representative benchmark.

WAVLX has a high expense ratio of 0.99%, indicating above-average management fees.

WAVLX ranks 74 for risk / return — better than 74% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

The table below present risk-adjusted performance metrics for Wavelength Interest Rate Neutral Fund (WAVLX) and compare them to a chosen benchmark (S&P 500 Index).

Wavelength Interest Rate Neutral Fund provided a 3.65% dividend yield over the last twelve months, with an annual payout of $0.37 per share.

The table displays the monthly dividend distributions for Wavelength Interest Rate Neutral Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Wavelength Interest Rate Neutral 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 Wavelength Interest Rate Neutral Fund was 14.39%, occurring on Sep 27, 2022. Recovery took 490 trading sessions.

The current Wavelength Interest Rate Neutral Fund drawdown is 2.83%.

The chart below shows the rolling one-month volatility.