BXMIX vs. ADAIX
Compare and contrast key facts about Blackstone Alternative Multi-Strategy Fund (BXMIX) and AQR Diversified Arbitrage Fund Class I (ADAIX).
BXMIX is managed by Blackstone. It was launched on Jun 15, 2014. ADAIX is an actively managed fund by AQR Funds. It was launched on Jan 15, 2009.
Performance
BXMIX vs. ADAIX - Performance Comparison
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BXMIX vs. ADAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BXMIX Blackstone Alternative Multi-Strategy Fund | -0.46% | 10.45% | 7.45% | 7.92% | -4.62% | 5.27% | -1.10% | 6.78% | -1.51% | 7.20% |
ADAIX AQR Diversified Arbitrage Fund Class I | 0.78% | 8.03% | 3.19% | 4.51% | -3.30% | 6.27% | 25.24% | 8.53% | 2.19% | 5.93% |
Returns By Period
In the year-to-date period, BXMIX achieves a -0.46% return, which is significantly lower than ADAIX's 0.78% return. Over the past 10 years, BXMIX has underperformed ADAIX with an annualized return of 4.04%, while ADAIX has yielded a comparatively higher 6.75% annualized return.
BXMIX
- 1D
- 0.00%
- 1M
- -1.36%
- YTD
- -0.46%
- 6M
- 3.02%
- 1Y
- 9.53%
- 3Y*
- 8.15%
- 5Y*
- 4.66%
- 10Y*
- 4.04%
ADAIX
- 1D
- -0.15%
- 1M
- 0.08%
- YTD
- 0.78%
- 6M
- 2.60%
- 1Y
- 6.24%
- 3Y*
- 5.17%
- 5Y*
- 2.72%
- 10Y*
- 6.75%
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BXMIX vs. ADAIX - Expense Ratio Comparison
BXMIX has a 2.33% expense ratio, which is higher than ADAIX's 1.38% expense ratio.
Return for Risk
BXMIX vs. ADAIX — Risk / Return Rank
BXMIX
ADAIX
BXMIX vs. ADAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Blackstone Alternative Multi-Strategy Fund (BXMIX) 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.
| BXMIX | ADAIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.27 | 4.19 | -1.92 |
Sortino ratioReturn per unit of downside risk | 2.97 | 6.86 | -3.89 |
Omega ratioGain probability vs. loss probability | 1.56 | 2.06 | -0.50 |
Calmar ratioReturn relative to maximum drawdown | 1.87 | 9.83 | -7.96 |
Martin ratioReturn relative to average drawdown | 8.71 | 37.48 | -28.76 |
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
| BXMIX | ADAIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.27 | 4.19 | -1.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.82 | 1.02 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.79 | 1.56 | -0.78 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 1.19 | -0.45 |
Correlation
The correlation between BXMIX and ADAIX is 0.25, 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
BXMIX vs. ADAIX - Dividend Comparison
BXMIX's dividend yield for the trailing twelve months is around 7.79%, more than ADAIX's 2.10% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BXMIX Blackstone Alternative Multi-Strategy Fund | 7.79% | 7.75% | 5.75% | 3.48% | 0.00% | 1.68% | 3.12% | 3.67% | 1.91% | 2.00% | 0.45% | 2.52% |
ADAIX AQR Diversified Arbitrage Fund Class I | 2.10% | 2.12% | 1.23% | 2.74% | 0.10% | 0.65% | 1.60% | 2.11% | 6.53% | 7.17% | 7.18% | 4.93% |
Drawdowns
BXMIX vs. ADAIX - Drawdown Comparison
The maximum BXMIX drawdown since its inception was -19.28%, which is greater than ADAIX's maximum drawdown of -14.75%. Use the drawdown chart below to compare losses from any high point for BXMIX and ADAIX.
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Drawdown Indicators
| BXMIX | ADAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.28% | -14.75% | -4.53% |
Max Drawdown (1Y)Largest decline over 1 year | -3.53% | -0.64% | -2.89% |
Max Drawdown (5Y)Largest decline over 5 years | -8.56% | -7.40% | -1.16% |
Max Drawdown (10Y)Largest decline over 10 years | -19.28% | -14.75% | -4.53% |
Current DrawdownCurrent decline from peak | -1.53% | -0.31% | -1.22% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -2.85% | +0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 0.17% | +0.89% |
Volatility
BXMIX vs. ADAIX - Volatility Comparison
Blackstone Alternative Multi-Strategy Fund (BXMIX) has a higher volatility of 0.95% compared to AQR Diversified Arbitrage Fund Class I (ADAIX) at 0.38%. This indicates that BXMIX'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
| BXMIX | ADAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 0.38% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 2.44% | 1.11% | +1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.10% | 1.54% | +3.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.96% | 2.69% | +3.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.24% | 4.33% | +0.91% |