GARIX vs. VMNIX
Compare and contrast key facts about Gotham Absolute Return Fund (GARIX) and Vanguard Market Neutral Fund Institutional Shares (VMNIX).
GARIX is managed by Gotham. It was launched on Aug 30, 2012. VMNIX is managed by Vanguard. It was launched on Oct 19, 1998.
Performance
GARIX vs. VMNIX - Performance Comparison
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GARIX vs. VMNIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GARIX Gotham Absolute Return Fund | 0.28% | 16.18% | 20.46% | 17.70% | -5.04% | 26.87% | -6.19% | 11.50% | -4.86% | 10.01% |
VMNIX Vanguard Market Neutral Fund Institutional Shares | 5.62% | 9.36% | 5.84% | 12.33% | 13.47% | 23.39% | -11.58% | -9.48% | 0.66% | -4.83% |
Returns By Period
In the year-to-date period, GARIX achieves a 0.28% return, which is significantly lower than VMNIX's 5.62% return. Over the past 10 years, GARIX has outperformed VMNIX with an annualized return of 8.69%, while VMNIX has yielded a comparatively lower 4.01% annualized return.
GARIX
- 1D
- 1.51%
- 1M
- -1.96%
- YTD
- 0.28%
- 6M
- 2.80%
- 1Y
- 17.39%
- 3Y*
- 16.76%
- 5Y*
- 12.75%
- 10Y*
- 8.69%
VMNIX
- 1D
- -0.47%
- 1M
- 2.96%
- YTD
- 5.62%
- 6M
- 8.54%
- 1Y
- 15.19%
- 3Y*
- 11.63%
- 5Y*
- 12.42%
- 10Y*
- 4.01%
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GARIX vs. VMNIX - Expense Ratio Comparison
GARIX has a 1.50% expense ratio, which is higher than VMNIX's 1.25% expense ratio.
Return for Risk
GARIX vs. VMNIX — Risk / Return Rank
GARIX
VMNIX
GARIX vs. VMNIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gotham Absolute Return Fund (GARIX) and Vanguard Market Neutral Fund Institutional Shares (VMNIX). 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.
| GARIX | VMNIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.50 | 2.06 | -0.56 |
Sortino ratioReturn per unit of downside risk | 2.16 | 3.04 | -0.88 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.37 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 2.44 | 3.25 | -0.81 |
Martin ratioReturn relative to average drawdown | 12.77 | 9.26 | +3.51 |
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
| GARIX | VMNIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.50 | 2.06 | -0.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 1.74 | -0.90 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | 0.63 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.31 | +0.38 |
Correlation
The correlation between GARIX and VMNIX is 0.20, 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
GARIX vs. VMNIX - Dividend Comparison
GARIX's dividend yield for the trailing twelve months is around 7.16%, more than VMNIX's 3.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GARIX Gotham Absolute Return Fund | 7.16% | 7.18% | 18.74% | 5.87% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.36% |
VMNIX Vanguard Market Neutral Fund Institutional Shares | 3.38% | 3.59% | 5.67% | 5.15% | 0.78% | 0.20% | 0.86% | 3.23% | 1.00% | 1.16% | 0.45% | 0.10% |
Drawdowns
GARIX vs. VMNIX - Drawdown Comparison
The maximum GARIX drawdown since its inception was -26.49%, smaller than the maximum VMNIX drawdown of -27.90%. Use the drawdown chart below to compare losses from any high point for GARIX and VMNIX.
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Drawdown Indicators
| GARIX | VMNIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.49% | -27.90% | +1.41% |
Max Drawdown (1Y)Largest decline over 1 year | -7.49% | -4.95% | -2.54% |
Max Drawdown (5Y)Largest decline over 5 years | -23.15% | -6.69% | -16.46% |
Max Drawdown (10Y)Largest decline over 10 years | -26.49% | -24.95% | -1.54% |
Current DrawdownCurrent decline from peak | -3.03% | -0.47% | -2.56% |
Average DrawdownAverage peak-to-trough decline | -4.57% | -8.82% | +4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.43% | 1.73% | -0.30% |
Volatility
GARIX vs. VMNIX - Volatility Comparison
Gotham Absolute Return Fund (GARIX) has a higher volatility of 2.94% compared to Vanguard Market Neutral Fund Institutional Shares (VMNIX) at 1.57%. This indicates that GARIX's price experiences larger fluctuations and is considered to be riskier than VMNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GARIX | VMNIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.94% | 1.57% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 6.19% | 5.76% | +0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.87% | 7.60% | +4.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.35% | 7.19% | +8.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.87% | 6.35% | +7.52% |