- Issuer
- StepStone
- Inception Date
- Oct 19, 2023
- Region
- Global (Broad)
- Category
- Multistrategy
- Leveraged
- 1x (No leverage)
- Min. Investment
- $1,000,000
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
Share Price Chart
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Performance
XPMIX Performance Chart
StepStone Private Markets Fund Class I (XPMIX) is up 5.7% since the beginning of the year. XPMIX is currently trading at $65 per share. Investors who bought $1,000 worth of XPMIX shares 5 years ago would now be looking at an investment worth $1,830.
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Returns By Period
StepStone Private Markets Fund Class I (XPMIX) has returned 5.73% so far this year and 10.06% over the past 12 months.
StepStone Private Markets Fund Class I
- 1D
- 0.25%
- 1M
- 0.95%
- 6M
- 4.55%
- YTD
- 5.73%
- 1Y
- 10.06%
- 3Y*
- 11.73%
- 5Y*
- 12.85%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.42%
- 1M
- 4.24%
- 6M
- 8.74%
- YTD
- 10.66%
- 1Y
- 20.62%
- 3Y*
- 19.50%
- 5Y*
- 11.63%
- 10Y*
- 13.41%
XPMIX Monthly Returns History
Based on dividend-adjusted daily data since Oct 1, 2020, XPMIX's average daily return is +0.07%, while the average monthly return is +1.43%. At this rate, an investment would double in approximately 4.1 years.
Historically, 71% of months were positive and 29% were negative. The best month was Dec 2020 with a return of +15.4%, while the worst month was Aug 2023 at -1.7%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.
On a daily basis, XPMIX closed higher 32% of trading days. The best single day was Dec 31, 2020 with a return of +15.4%, while the worst single day was May 3, 2021 at -3.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.31% | -0.26% | -0.39% | 3.45% | 1.37% | -0.06% | 0.23% | 5.73% | |||||
| 2025 | 1.16% | 0.14% | -0.29% | 1.04% | 2.83% | 1.94% | 0.22% | 0.44% | 2.34% | 0.99% | -0.38% | 0.80% | 11.78% |
| 2024 | 1.56% | 0.96% | 3.65% | -1.18% | 1.12% | 0.10% | 1.61% | 1.15% | 1.51% | 1.12% | 1.11% | -0.37% | 12.97% |
| 2023 | 0.00% | 4.12% | -0.52% | 0.90% | 0.15% | 0.00% | 4.48% | -1.74% | -0.53% | -0.02% | 3.14% | 1.81% | 12.21% |
| 2022 | 0.71% | 0.42% | 1.49% | 2.30% | 2.39% | 0.73% | -0.84% | 0.25% | -0.89% | 0.00% | 0.42% | 1.52% | 8.77% |
| 2021 | 0.19% | 1.53% | 3.02% | 3.85% | 5.24% | 0.00% | 1.09% | 5.09% | 5.97% | -0.12% | -0.94% | 1.91% | 30.00% |
Benchmark Metrics
StepStone Private Markets Fund Class I has an annualized alpha of 17.29%, beta of 0.10, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since October 01, 2020.
- This fund captured 44.17% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -16.88%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.10 may look defensive, but with R2 of 0.03 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 0.03 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
- 17.29%
- Beta
- 0.10
- R²
- 0.03
- Upside Capture
- 44.17%
- Downside Capture
- -16.88%
Expense Ratio
XPMIX has a high expense ratio of 2.34%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
XPMIX ranks 91 for risk / return — in the top 91% 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 StepStone Private Markets Fund Class I (XPMIX) 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.
| XPMIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.30 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.94 | 2.28 | +1.67 |
| Martin ratioReturn relative to average drawdown | 15.16 | 9.88 | +5.27 |
Dividends
Dividend History
StepStone Private Markets Fund Class I provided a 0.78% dividend yield over the last twelve months, with an annual payout of $0.51 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $0.51 | $0.52 | $0.72 | $0.16 |
Dividend yield | 0.78% | 0.85% | 1.31% | 0.33% |
Monthly Dividends
The table displays the monthly dividend distributions for StepStone Private Markets 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 | $0.00 | |||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.51 | $0.52 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.29 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.43 | $0.72 |
| 2023 | $0.16 | $0.00 | $0.16 |
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 StepStone Private Markets 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 StepStone Private Markets Fund Class I was 3.71%, occurring on May 3, 2021. Recovery took 19 trading sessions.
The current StepStone Private Markets Fund Class I drawdown is 0.12%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2021 pullback2021 | -3.71%May 2021 | 0s | 25d | 25dMay 2021 - May 2021 |
2025 selloff2025 | -3.13%Apr 2025 | 1mo 18d | 21d | 2mo 9dFeb 2025 - Apr 2025 |
2021 pullback2021 | -2.93%Apr 2021 | 0s | 11d | 11dApr 2021 - Apr 2021 |
2023 pullback2023 | -2.65%Aug 2023 | 17d | 3mo 4d | 3mo 21dAug 2023 - Nov 2023 |
2026 pullback2026 | -2.59%Mar 2026 | 1mo 28d | 12d | 2mo 10dJan 2026 - Apr 2026 |
Drawdown Indicators
| XPMIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.71% | -56.78% | +53.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.59% | -9.10% | +6.51% |
Max Drawdown (3Y)Largest decline over 3 years | -3.13% | -18.90% | +15.77% |
Max Drawdown (5Y)Largest decline over 5 years | -3.13% | -25.43% | +22.30% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.12% | -0.45% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -0.44% | -10.71% | +10.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 2.09% | -1.42% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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