SPE vs. RMDFX
SPE (Special Opportunities Fund Inc.) and RMDFX (Aspiriant Defensive Allocation Fund) are both Multistrategy funds. Over the past 10 years, SPE returned 11.27%/yr vs 5.23%/yr for RMDFX. A 0.52 correlation means they provide meaningful diversification when combined. SPE charges 1.11%/yr vs 0.18%/yr for RMDFX.
Performance
SPE vs. RMDFX - Performance Comparison
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Returns By Period
In the year-to-date period, SPE achieves a -2.43% return, which is significantly lower than RMDFX's 6.31% return. Over the past 10 years, SPE has outperformed RMDFX with an annualized return of 11.27%, while RMDFX has yielded a comparatively lower 5.23% annualized return.
SPE
- 1D
- 0.07%
- 1M
- 0.69%
- 6M
- -4.12%
- YTD
- -2.43%
- 1Y
- 1.25%
- 3Y*
- 18.55%
- 5Y*
- 9.15%
- 10Y*
- 11.27%
RMDFX
- 1D
- 0.24%
- 1M
- -0.16%
- 6M
- 4.81%
- YTD
- 6.31%
- 1Y
- 16.96%
- 3Y*
- 10.39%
- 5Y*
- 5.38%
- 10Y*
- 5.23%
SPE vs. RMDFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPE Special Opportunities Fund Inc. | -2.43% | 14.68% | 34.41% | 14.12% | -18.39% | 23.60% | 4.86% | 32.95% | -9.17% | 28.66% |
RMDFX Aspiriant Defensive Allocation Fund | 6.31% | 18.85% | 1.45% | 8.01% | -6.84% | 4.20% | 5.10% | 11.50% | -4.89% | 9.41% |
Correlation
The correlation between SPE and RMDFX is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.52 |
The correlation between SPE and RMDFX shifts across timeframes, from 0.43 (3 years) to 0.54 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SPE vs. RMDFX — Risk / Return Rank
SPE
RMDFX
SPE vs. RMDFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Special Opportunities Fund Inc. (SPE) and Aspiriant Defensive Allocation Fund (RMDFX). 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.
| SPE | RMDFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.48 | ||
| Sortino ratioReturn per unit of downside risk | -4.75 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.75 | -0.72 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | 4.09 | -4.01 |
| Martin ratioReturn relative to average drawdown | 0.24 | 15.19 | -14.95 |
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Drawdowns
SPE vs. RMDFX - Drawdown Comparison
The maximum SPE drawdown since its inception was -46.90%, which is greater than RMDFX's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for SPE and RMDFX.
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Drawdown Indicators
| SPE | RMDFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.90% | -15.96% | -30.94% |
Max Drawdown (1Y)Largest decline over 1 year | -9.33% | -4.19% | -5.14% |
Max Drawdown (3Y)Largest decline over 3 years | -13.69% | -5.79% | -7.90% |
Max Drawdown (5Y)Largest decline over 5 years | -24.18% | -14.63% | -9.55% |
Max Drawdown (10Y)Largest decline over 10 years | -46.90% | -15.96% | -30.94% |
Current DrawdownCurrent decline from peak | -5.70% | -1.02% | -4.68% |
Average DrawdownAverage peak-to-trough decline | -4.70% | -3.31% | -1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 1.13% | +2.18% |
Volatility
SPE vs. RMDFX - Volatility Comparison
Special Opportunities Fund Inc. (SPE) has a higher volatility of 4.08% compared to Aspiriant Defensive Allocation Fund (RMDFX) at 1.20%. This indicates that SPE's price experiences larger fluctuations and is considered to be riskier than RMDFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPE | RMDFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 1.20% | +2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 8.67% | 4.13% | +4.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.17% | 4.83% | +6.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.65% | 6.34% | +7.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.35% | 6.22% | +11.13% |
SPE vs. RMDFX - Expense Ratio Comparison
SPE has a 1.11% expense ratio, which is higher than RMDFX's 0.18% expense ratio.
Dividends
SPE vs. RMDFX - Dividend Comparison
SPE's dividend yield for the trailing twelve months is around 17.08%, more than RMDFX's 4.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RMDFX Aspiriant Defensive Allocation Fund | 4.36% | 4.63% | 0.00% | 3.69% | 0.78% | 5.37% | 2.28% | 3.78% | 4.11% | 2.16% | 1.16% | 0.00% |
SPE Special Opportunities Fund Inc. | 17.08% | 13.73% | 7.83% | 8.77% | 11.58% | 11.64% | 8.01% | 6.35% | 14.10% | 16.53% | 5.93% | 9.02% |
Frequently Asked Questions
SPE and RMDFX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPE has higher volatility (4.08%) compared to RMDFX (1.20%). In terms of maximum drawdown, SPE dropped -46.90% vs RMDFX's -15.96%.
RMDFX currently has the higher Sharpe Ratio (3.55 vs 0.07), 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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