AEDNX vs. EMAYX
Compare and contrast key facts about Water Island Event-Driven Fund (AEDNX) and Gabelli Enterprise Mergers and Acquisitions Fund (EMAYX).
AEDNX is managed by Arbitrage Fund. It was launched on Sep 30, 2010. EMAYX is managed by Gabelli. It was launched on Feb 27, 2001.
Performance
AEDNX vs. EMAYX - Performance Comparison
Loading graphics...
AEDNX vs. EMAYX - 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% |
EMAYX Gabelli Enterprise Mergers and Acquisitions Fund | 3.60% | 21.17% | 4.10% | 5.96% | -8.78% | 9.83% | 5.29% | 7.71% | -2.78% | 5.61% |
Returns By Period
In the year-to-date period, AEDNX achieves a 0.55% return, which is significantly lower than EMAYX's 3.60% return. Over the past 10 years, AEDNX has underperformed EMAYX with an annualized return of 4.21%, while EMAYX has yielded a comparatively higher 5.61% 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%
EMAYX
- 1D
- 1.15%
- 1M
- -3.21%
- YTD
- 3.60%
- 6M
- 8.05%
- 1Y
- 21.36%
- 3Y*
- 10.77%
- 5Y*
- 5.51%
- 10Y*
- 5.61%
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
AEDNX vs. EMAYX - Expense Ratio Comparison
AEDNX has a 1.44% expense ratio, which is higher than EMAYX's 1.01% expense ratio.
Return for Risk
AEDNX vs. EMAYX — Risk / Return Rank
AEDNX
EMAYX
AEDNX vs. EMAYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Water Island Event-Driven Fund (AEDNX) and Gabelli Enterprise Mergers and Acquisitions Fund (EMAYX). 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 | EMAYX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.40 | 1.82 | +0.59 |
Sortino ratioReturn per unit of downside risk | 3.47 | 2.51 | +0.96 |
Omega ratioGain probability vs. loss probability | 1.61 | 1.35 | +0.26 |
Calmar ratioReturn relative to maximum drawdown | 3.25 | 2.25 | +1.01 |
Martin ratioReturn relative to average drawdown | 15.14 | 10.81 | +4.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| AEDNX | EMAYX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.40 | 1.82 | +0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.51 | +0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 0.54 | +0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.44 | +0.19 |
Correlation
The correlation between AEDNX and EMAYX is 0.58, 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. EMAYX - Dividend Comparison
AEDNX's dividend yield for the trailing twelve months is around 0.94%, less than EMAYX's 4.06% 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% |
EMAYX Gabelli Enterprise Mergers and Acquisitions Fund | 4.06% | 4.21% | 0.00% | 3.00% | 0.80% | 6.84% | 0.24% | 1.80% | 5.52% | 1.24% | 0.00% | 0.00% |
Drawdowns
AEDNX vs. EMAYX - Drawdown Comparison
The maximum AEDNX drawdown since its inception was -13.03%, smaller than the maximum EMAYX drawdown of -47.93%. Use the drawdown chart below to compare losses from any high point for AEDNX and EMAYX.
Loading graphics...
Drawdown Indicators
| AEDNX | EMAYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.03% | -47.93% | +34.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.05% | -9.69% | +7.64% |
Max Drawdown (5Y)Largest decline over 5 years | -8.94% | -15.95% | +7.01% |
Max Drawdown (10Y)Largest decline over 10 years | -12.24% | -24.90% | +12.66% |
Current DrawdownCurrent decline from peak | -0.46% | -3.21% | +2.75% |
Average DrawdownAverage peak-to-trough decline | -2.73% | -4.50% | +1.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 2.02% | -1.58% |
Volatility
AEDNX vs. EMAYX - Volatility Comparison
The current volatility for Water Island Event-Driven Fund (AEDNX) is 1.36%, while Gabelli Enterprise Mergers and Acquisitions Fund (EMAYX) has a volatility of 3.47%. This indicates that AEDNX experiences smaller price fluctuations and is considered to be less risky than EMAYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| AEDNX | EMAYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 3.47% | -2.11% |
Volatility (6M)Calculated over the trailing 6-month period | 1.87% | 6.64% | -4.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.75% | 11.82% | -9.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.04% | 10.88% | -6.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.14% | 10.51% | -5.37% |