LSOFX vs. BIVIX
LSOFX (LS Opportunity Fund - Institutional Class) and BIVIX (Invenomic Fund Institutional Class) are both Long-Short funds. Over the past 5 years, LSOFX returned 5.76%/yr vs 16.22%/yr for BIVIX. Their 0.22 correlation means their historical movements had little consistent relationship. LSOFX charges 1.95%/yr vs 3.17%/yr for BIVIX.
Performance
LSOFX vs. BIVIX - Performance Comparison
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Returns By Period
In the year-to-date period, LSOFX achieves a 4.61% return, which is significantly lower than BIVIX's 7.97% return.
LSOFX
- 1D
- 0.13%
- 1M
- 1.85%
- 6M
- 3.01%
- YTD
- 4.61%
- 1Y
- 6.58%
- 3Y*
- 6.99%
- 5Y*
- 5.76%
- 10Y*
- 7.10%
- ALL TIME*
- 6.58%
BIVIX
- 1D
- -5.68%
- 1M
- 15.61%
- 6M
- 11.43%
- YTD
- 7.97%
- 1Y
- 17.09%
- 3Y*
- 2.95%
- 5Y*
- 16.22%
- 10Y*
- —
- ALL TIME*
- 16.94%
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 |
LSOFX vs. BIVIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LSOFX LS Opportunity Fund - Institutional Class | 4.61% | 3.85% | 8.28% | 11.00% | -3.12% | 12.42% | 4.35% | 18.31% | -3.57% | 6.66% |
BIVIX Invenomic Fund Institutional Class | 7.97% | 4.63% | -8.81% | 16.80% | 50.01% | 63.81% | 11.46% | 11.59% | 3.68% | 8.93% |
Correlation
The correlation between LSOFX and BIVIX is 0.04, 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. | 0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2017 | 0.22 |
The correlation between LSOFX and BIVIX shifts across timeframes, from 0.01 (3 years) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LSOFX vs. BIVIX — Risk / Return Rank
LSOFX
BIVIX
LSOFX vs. BIVIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for LS Opportunity Fund - Institutional Class (LSOFX) 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.
| LSOFX | BIVIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.11 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 0.59 | +0.41 |
| Martin ratioReturn relative to average drawdown | 2.90 | 1.60 | +1.30 |
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Drawdowns
LSOFX vs. BIVIX - Drawdown Comparison
The maximum LSOFX drawdown since its inception was -22.05%, smaller than the maximum BIVIX drawdown of -26.95%. Use the drawdown chart below to compare losses from any high point for LSOFX and BIVIX.
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Drawdown Indicators
| LSOFX | BIVIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.05% | -26.95% | +4.90% |
Max Drawdown (1Y)Largest decline over 1 year | -5.36% | -26.95% | +21.59% |
Max Drawdown (3Y)Largest decline over 3 years | -10.43% | -26.95% | +16.52% |
Max Drawdown (5Y)Largest decline over 5 years | -13.00% | -26.95% | +13.95% |
Max Drawdown (10Y)Largest decline over 10 years | -22.05% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -5.68% | +5.68% |
Average DrawdownAverage peak-to-trough decline | -3.31% | -6.03% | +2.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 9.89% | -8.04% |
Volatility
LSOFX vs. BIVIX - Volatility Comparison
The current volatility for LS Opportunity Fund - Institutional Class (LSOFX) is 2.99%, while Invenomic Fund Institutional Class (BIVIX) has a volatility of 17.67%. This indicates that LSOFX 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.
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Volatility by Period
| LSOFX | BIVIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.99% | 17.67% | -14.68% |
Volatility (6M)Calculated over the trailing 6-month period | 6.24% | 29.32% | -23.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.16% | 32.80% | -24.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.76% | 19.36% | -9.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.24% | 18.61% | -8.37% |
LSOFX vs. BIVIX - Expense Ratio Comparison
LSOFX has a 1.95% expense ratio, which is lower than BIVIX's 3.17% expense ratio.
Dividends
LSOFX vs. BIVIX - Dividend Comparison
LSOFX's dividend yield for the trailing twelve months is around 32.10%, more than BIVIX's 2.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIVIX Invenomic Fund Institutional Class | 2.03% | 2.20% | 3.95% | 20.15% | 27.91% | 16.08% | 3.15% | 3.19% | 4.79% | 1.21% | 0.00% | 0.00% |
LSOFX LS Opportunity Fund - Institutional Class | 32.10% | 4.81% | 0.98% | 0.00% | 5.27% | 4.35% | 1.28% | 2.35% | 2.71% | 3.91% | 0.00% | 6.74% |
Frequently Asked Questions
LSOFX and BIVIX have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BIVIX has higher volatility (17.67%) compared to LSOFX (2.99%). In terms of maximum drawdown, LSOFX dropped -22.05% vs BIVIX's -26.95%.
LSOFX currently has the higher Sharpe Ratio (0.66 vs 0.48), 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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