AEDNX vs. VARBX
Compare and contrast key facts about Water Island Event-Driven Fund (AEDNX) and Vivaldi Merger Arbitrage Fund Class I (VARBX).
AEDNX is managed by Arbitrage Fund. It was launched on Sep 30, 2010. VARBX is managed by First Trust. It was launched on Oct 1, 2015.
Performance
AEDNX vs. VARBX - Performance Comparison
Loading graphics...
AEDNX vs. VARBX - 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% |
VARBX Vivaldi Merger Arbitrage Fund Class I | 0.85% | 6.06% | 12.64% | 3.30% | 2.38% | 5.42% | 4.00% | 4.28% | 4.11% | 2.39% |
Returns By Period
In the year-to-date period, AEDNX achieves a 0.55% return, which is significantly lower than VARBX's 0.85% return. Over the past 10 years, AEDNX has underperformed VARBX with an annualized return of 4.21%, while VARBX has yielded a comparatively higher 4.45% 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%
VARBX
- 1D
- 0.09%
- 1M
- 0.47%
- YTD
- 0.85%
- 6M
- 2.21%
- 1Y
- 5.56%
- 3Y*
- 7.36%
- 5Y*
- 5.39%
- 10Y*
- 4.45%
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. VARBX - Expense Ratio Comparison
AEDNX has a 1.44% expense ratio, which is lower than VARBX's 1.81% expense ratio.
Return for Risk
AEDNX vs. VARBX — Risk / Return Rank
AEDNX
VARBX
AEDNX vs. VARBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Water Island Event-Driven Fund (AEDNX) and Vivaldi Merger Arbitrage Fund Class I (VARBX). 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 | VARBX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.40 | 4.06 | -1.65 |
Sortino ratioReturn per unit of downside risk | 3.47 | 6.90 | -3.43 |
Omega ratioGain probability vs. loss probability | 1.61 | 2.36 | -0.75 |
Calmar ratioReturn relative to maximum drawdown | 3.25 | 8.71 | -5.46 |
Martin ratioReturn relative to average drawdown | 15.14 | 37.63 | -22.49 |
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 | VARBX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.40 | 4.06 | -1.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 1.64 | -0.90 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 1.33 | -0.51 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 1.40 | -0.77 |
Correlation
The correlation between AEDNX and VARBX is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
AEDNX vs. VARBX - Dividend Comparison
AEDNX's dividend yield for the trailing twelve months is around 0.94%, less than VARBX's 5.99% 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% |
VARBX Vivaldi Merger Arbitrage Fund Class I | 5.99% | 6.04% | 12.59% | 4.07% | 0.75% | 8.42% | 0.81% | 5.54% | 2.15% | 1.70% | 0.06% | 0.04% |
Drawdowns
AEDNX vs. VARBX - Drawdown Comparison
The maximum AEDNX drawdown since its inception was -13.03%, which is greater than VARBX's maximum drawdown of -5.12%. Use the drawdown chart below to compare losses from any high point for AEDNX and VARBX.
Loading graphics...
Drawdown Indicators
| AEDNX | VARBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.03% | -5.12% | -7.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.05% | -0.64% | -1.41% |
Max Drawdown (5Y)Largest decline over 5 years | -8.94% | -1.79% | -7.15% |
Max Drawdown (10Y)Largest decline over 10 years | -12.24% | -5.12% | -7.12% |
Current DrawdownCurrent decline from peak | -0.46% | 0.00% | -0.46% |
Average DrawdownAverage peak-to-trough decline | -2.73% | -0.57% | -2.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 0.15% | +0.29% |
Volatility
AEDNX vs. VARBX - Volatility Comparison
Water Island Event-Driven Fund (AEDNX) has a higher volatility of 1.36% compared to Vivaldi Merger Arbitrage Fund Class I (VARBX) at 0.33%. This indicates that AEDNX's price experiences larger fluctuations and is considered to be riskier than VARBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| AEDNX | VARBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 0.33% | +1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.87% | 0.71% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.75% | 1.35% | +1.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.04% | 3.31% | +0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.14% | 3.35% | +1.79% |