AEDNX vs. BILPX
Compare and contrast key facts about Water Island Event-Driven Fund (AEDNX) and BlackRock Event Driven Equity Fund (BILPX).
AEDNX is managed by Arbitrage Fund. It was launched on Sep 30, 2010. BILPX is managed by BlackRock. It was launched on Dec 18, 2007.
Performance
AEDNX vs. BILPX - Performance Comparison
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AEDNX vs. BILPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AEDNX Water Island Event-Driven Fund | 0.55% | 8.67% | 2.26% | 5.90% | -0.63% | 1.18% | 13.42% | 4.76% | -0.15% | 3.89% |
BILPX BlackRock Event Driven Equity Fund | 0.48% | 8.43% | 4.37% | 5.38% | 0.01% | 1.95% | 6.30% | 7.29% | 5.47% | 7.15% |
Returns By Period
In the year-to-date period, AEDNX achieves a 0.55% return, which is significantly higher than BILPX's 0.48% return. Over the past 10 years, AEDNX has underperformed BILPX with an annualized return of 4.21%, while BILPX has yielded a comparatively higher 4.77% annualized return.
AEDNX
- 1D
- 0.78%
- 1M
- -0.39%
- YTD
- 0.55%
- 6M
- 2.38%
- 1Y
- 6.49%
- 3Y*
- 5.62%
- 5Y*
- 2.95%
- 10Y*
- 4.21%
BILPX
- 1D
- 0.58%
- 1M
- -0.67%
- YTD
- 0.48%
- 6M
- 2.10%
- 1Y
- 7.34%
- 3Y*
- 5.96%
- 5Y*
- 3.86%
- 10Y*
- 4.77%
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AEDNX vs. BILPX - Expense Ratio Comparison
AEDNX has a 1.44% expense ratio, which is higher than BILPX's 1.16% expense ratio.
Return for Risk
AEDNX vs. BILPX — Risk / Return Rank
AEDNX
BILPX
AEDNX vs. BILPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Water Island Event-Driven Fund (AEDNX) and BlackRock Event Driven Equity Fund (BILPX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| AEDNX | BILPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.40 | 1.60 | +0.80 |
Sortino ratioReturn per unit of downside risk | 3.47 | 2.27 | +1.20 |
Omega ratioGain probability vs. loss probability | 1.61 | 1.40 | +0.21 |
Calmar ratioReturn relative to maximum drawdown | 3.25 | 2.41 | +0.84 |
Martin ratioReturn relative to average drawdown | 15.14 | 14.54 | +0.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AEDNX | BILPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.40 | 1.60 | +0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.95 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 1.03 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.36 | +0.27 |
Correlation
The correlation between AEDNX and BILPX is 0.55, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
AEDNX vs. BILPX - Dividend Comparison
AEDNX's dividend yield for the trailing twelve months is around 0.94%, less than BILPX's 4.17% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AEDNX Water Island Event-Driven Fund | 0.94% | 0.95% | 0.20% | 0.72% | 0.00% | 0.00% | 0.24% | 0.46% | 1.78% | 0.62% | 0.00% | 2.79% |
BILPX BlackRock Event Driven Equity Fund | 4.17% | 4.19% | 4.16% | 1.99% | 2.58% | 2.66% | 2.97% | 3.41% | 1.97% | 5.12% | 1.11% | 74.64% |
Drawdowns
AEDNX vs. BILPX - Drawdown Comparison
The maximum AEDNX drawdown since its inception was -13.03%, smaller than the maximum BILPX drawdown of -47.50%. Use the drawdown chart below to compare losses from any high point for AEDNX and BILPX.
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Drawdown Indicators
| AEDNX | BILPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.03% | -47.50% | +34.47% |
Max Drawdown (1Y)Largest decline over 1 year | -2.05% | -3.05% | +1.00% |
Max Drawdown (5Y)Largest decline over 5 years | -8.94% | -5.18% | -3.76% |
Max Drawdown (10Y)Largest decline over 10 years | -12.24% | -11.58% | -0.66% |
Current DrawdownCurrent decline from peak | -0.46% | -0.67% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -2.73% | -5.58% | +2.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 0.50% | -0.06% |
Volatility
AEDNX vs. BILPX - Volatility Comparison
Water Island Event-Driven Fund (AEDNX) has a higher volatility of 1.36% compared to BlackRock Event Driven Equity Fund (BILPX) at 1.13%. This indicates that AEDNX's price experiences larger fluctuations and is considered to be riskier than BILPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AEDNX | BILPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.13% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 1.87% | 2.23% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.75% | 4.60% | -1.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.04% | 4.09% | -0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.14% | 4.67% | +0.47% |