BAMBX vs. ADAIX
BAMBX (BlackRock Systematic Multi-Strategy Fund) and ADAIX (AQR Diversified Arbitrage Fund Class I) are both Multistrategy funds. BAMBX is passively managed, while ADAIX is actively managed. Over the past 10 years, BAMBX returned 4.28%/yr vs 6.69%/yr for ADAIX. Their 0.05 correlation means their historical movements had little consistent relationship. BAMBX charges 1.20%/yr vs 1.38%/yr for ADAIX.
Performance
BAMBX vs. ADAIX - Performance Comparison
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Returns By Period
In the year-to-date period, BAMBX achieves a 1.18% return, which is significantly lower than ADAIX's 3.35% return. Over the past 10 years, BAMBX has underperformed ADAIX with an annualized return of 4.28%, while ADAIX has yielded a comparatively higher 6.69% annualized return.
BAMBX
- 1D
- 0.00%
- 1M
- 0.02%
- 6M
- 0.02%
- YTD
- 1.18%
- 1Y
- 3.66%
- 3Y*
- 5.89%
- 5Y*
- 3.29%
- 10Y*
- 4.28%
- ALL TIME*
- 4.63%
ADAIX
- 1D
- 0.23%
- 1M
- -0.08%
- 6M
- 2.40%
- YTD
- 3.35%
- 1Y
- 6.05%
- 3Y*
- 5.64%
- 5Y*
- 3.16%
- 10Y*
- 6.69%
- ALL TIME*
- 4.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
BAMBX vs. ADAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BAMBX BlackRock Systematic Multi-Strategy Fund | 1.18% | 4.59% | 6.61% | 6.19% | -3.23% | 5.84% | 3.34% | 8.25% | 1.51% | 9.72% |
ADAIX AQR Diversified Arbitrage Fund Class I | 3.35% | 8.03% | 3.19% | 4.51% | -3.30% | 6.27% | 25.24% | 8.53% | 2.19% | 5.93% |
Correlation
The correlation between BAMBX and ADAIX is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.05 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.05 |
The correlation between BAMBX and ADAIX shifts across timeframes, from -0.02 (1 year) to 0.10 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BAMBX vs. ADAIX — Risk / Return Rank
BAMBX
ADAIX
BAMBX vs. ADAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Systematic Multi-Strategy Fund (BAMBX) and AQR Diversified Arbitrage Fund Class I (ADAIX). 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.
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.
| BAMBX | ADAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.14 | ||
| Sortino ratioReturn per unit of downside risk | -5.40 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.98 | -0.81 |
| Calmar ratioReturn relative to maximum drawdown | 0.77 | 10.09 | -9.32 |
| Martin ratioReturn relative to average drawdown | 1.70 | 37.28 | -35.58 |
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Drawdowns
BAMBX vs. ADAIX - Drawdown Comparison
The maximum BAMBX drawdown since its inception was -8.84%, smaller than the maximum ADAIX drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for BAMBX and ADAIX.
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Drawdown Indicators
| BAMBX | ADAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.84% | -14.75% | +5.91% |
Max Drawdown (1Y)Largest decline over 1 year | -5.19% | -0.60% | -4.59% |
Max Drawdown (3Y)Largest decline over 3 years | -5.19% | -1.78% | -3.41% |
Max Drawdown (5Y)Largest decline over 5 years | -6.66% | -7.40% | +0.74% |
Max Drawdown (10Y)Largest decline over 10 years | -8.84% | -14.75% | +5.91% |
Current DrawdownCurrent decline from peak | -2.95% | -0.30% | -2.65% |
Average DrawdownAverage peak-to-trough decline | -1.29% | -2.80% | +1.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.34% | 0.16% | +2.18% |
Volatility
BAMBX vs. ADAIX - Volatility Comparison
BlackRock Systematic Multi-Strategy Fund (BAMBX) has a higher volatility of 1.27% compared to AQR Diversified Arbitrage Fund Class I (ADAIX) at 0.52%. This indicates that BAMBX's price experiences larger fluctuations and is considered to be riskier than ADAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAMBX | ADAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 0.52% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 3.56% | 1.17% | +2.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.26% | 1.49% | +2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.72% | 2.60% | +1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.63% | 4.31% | -0.68% |
BAMBX vs. ADAIX - Expense Ratio Comparison
BAMBX has a 1.20% expense ratio, which is lower than ADAIX's 1.38% expense ratio.
Dividends
BAMBX vs. ADAIX - Dividend Comparison
BAMBX's dividend yield for the trailing twelve months is around 3.23%, more than ADAIX's 2.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ADAIX AQR Diversified Arbitrage Fund Class I | 2.05% | 2.12% | 1.23% | 2.74% | 0.10% | 0.65% | 1.60% | 2.11% | 6.53% | 7.17% | 7.18% | 4.93% |
BAMBX BlackRock Systematic Multi-Strategy Fund | 3.23% | 1.97% | 3.86% | 4.13% | 4.70% | 2.39% | 1.09% | 3.73% | 8.70% | 3.81% | 4.82% | 0.00% |
Frequently Asked Questions
BAMBX and ADAIX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BAMBX has higher volatility (1.27%) compared to ADAIX (0.52%). In terms of maximum drawdown, BAMBX dropped -8.84% vs ADAIX's -14.75%.
ADAIX currently has the higher Sharpe Ratio (4.07 vs 0.93), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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