LONGX vs. BIVIX
LONGX (Longboard Fund) and BIVIX (Invenomic Fund Institutional Class) are both Long-Short funds. Over the past 5 years, LONGX returned 5.05%/yr vs 16.39%/yr for BIVIX. Their -0.08 correlation means they have often moved in opposite directions in the past. LONGX charges 1.99%/yr vs 3.17%/yr for BIVIX.
Performance
LONGX vs. BIVIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LONGX achieves a 13.89% return, which is significantly higher than BIVIX's 6.78% return.
LONGX
- 1D
- 0.65%
- 1M
- 0.12%
- 6M
- 8.32%
- YTD
- 13.89%
- 1Y
- 17.09%
- 3Y*
- 11.08%
- 5Y*
- 5.05%
- 10Y*
- 25.01%
- ALL TIME*
- 21.46%
BIVIX
- 1D
- 0.00%
- 1M
- 14.34%
- 6M
- 13.24%
- YTD
- 6.78%
- 1Y
- 16.29%
- 3Y*
- 2.50%
- 5Y*
- 16.39%
- 10Y*
- —
- ALL TIME*
- 16.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
LONGX Longboard Fund | $0.00 | $0.00 | $0.00 |
LONGX vs. BIVIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LONGX Longboard Fund | 13.89% | 1.49% | 14.95% | 5.64% | -13.21% | 13.89% | 27.70% | 13.82% | 270.32% | 9.55% |
BIVIX Invenomic Fund Institutional Class | 6.78% | 4.63% | -8.81% | 16.80% | 50.01% | 63.81% | 11.46% | 11.59% | 3.68% | 8.93% |
Correlation
The correlation between LONGX and BIVIX is -0.22, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.22 |
Correlation (3Y) Balances recent behavior with more history. | -0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.06 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2017 | -0.08 |
The correlation between LONGX and BIVIX shifts across timeframes, from -0.22 (1 year) to -0.06 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LONGX vs. BIVIX — Risk / Return Rank
LONGX
BIVIX
LONGX vs. BIVIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Longboard Fund (LONGX) and Invenomic Fund Institutional Class (BIVIX). 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.
| LONGX | BIVIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.21 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.11 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 0.59 | +2.03 |
| Martin ratioReturn relative to average drawdown | 9.94 | 1.60 | +8.34 |
Loading charts...
Drawdowns
LONGX vs. BIVIX - Drawdown Comparison
The maximum LONGX drawdown since its inception was -77.16%, which is greater than BIVIX's maximum drawdown of -26.95%. Use the drawdown chart below to compare losses from any high point for LONGX and BIVIX.
Loading charts...
Drawdown Indicators
| LONGX | BIVIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.16% | -26.95% | -50.21% |
Max Drawdown (1Y)Largest decline over 1 year | -7.09% | -26.95% | +19.86% |
Max Drawdown (3Y)Largest decline over 3 years | -14.57% | -26.95% | +12.38% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -26.95% | +7.67% |
Max Drawdown (10Y)Largest decline over 10 years | -77.16% | — | — |
Current DrawdownCurrent decline from peak | -0.87% | -6.71% | +5.84% |
Average DrawdownAverage peak-to-trough decline | -7.28% | -6.03% | -1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 9.91% | -8.05% |
Volatility
LONGX vs. BIVIX - Volatility Comparison
The current volatility for Longboard Fund (LONGX) is 2.43%, while Invenomic Fund Institutional Class (BIVIX) has a volatility of 16.09%. This indicates that LONGX experiences smaller price fluctuations and is considered to be less risky than BIVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| LONGX | BIVIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.43% | 16.09% | -13.66% |
Volatility (6M)Calculated over the trailing 6-month period | 8.20% | 29.27% | -21.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.95% | 32.75% | -21.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.88% | 19.36% | -7.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 137.78% | 18.61% | +119.17% |
LONGX vs. BIVIX - Expense Ratio Comparison
LONGX has a 1.99% expense ratio, which is lower than BIVIX's 3.17% expense ratio.
Dividends
LONGX vs. BIVIX - Dividend Comparison
LONGX has not paid dividends to shareholders, while BIVIX's dividend yield for the trailing twelve months is around 2.06%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BIVIX Invenomic Fund Institutional Class | 2.06% | 2.20% | 3.95% | 20.15% | 27.91% | 16.08% | 3.15% | 3.19% | 4.79% | 1.21% | 0.00% |
LONGX Longboard Fund | 0.00% | 0.00% | 0.00% | 5.40% | 7.64% | 1.73% | 0.00% | 0.00% | 3.10% | 268.50% | 23.29% |
Frequently Asked Questions
LONGX and BIVIX have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIVIX has higher volatility (16.09%) compared to LONGX (2.43%). In terms of maximum drawdown, LONGX dropped -77.16% vs BIVIX's -26.95%.
LONGX currently has the higher Sharpe Ratio (1.70 vs 0.49), 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.
Find the right allocation for LONGX and BIVIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer