SPE vs. TNMIX
SPE (Special Opportunities Fund Inc.) and TNMIX (1290 Multi-Alternative Strategies Fund) are both Multistrategy funds. Over the past 10 years, SPE returned 11.61%/yr vs 4.10%/yr for TNMIX. A 0.51 correlation means they provide meaningful diversification when combined. SPE charges 1.11%/yr vs 0.85%/yr for TNMIX.
Performance
SPE vs. TNMIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPE achieves a -2.79% return, which is significantly lower than TNMIX's 9.29% return. Over the past 10 years, SPE has outperformed TNMIX with an annualized return of 11.61%, while TNMIX has yielded a comparatively lower 4.10% annualized return.
SPE
- 1D
- -2.05%
- 1M
- -2.09%
- YTD
- -2.79%
- 6M
- -2.84%
- 1Y
- 4.24%
- 3Y*
- 18.96%
- 5Y*
- 9.04%
- 10Y*
- 11.61%
TNMIX
- 1D
- 0.35%
- 1M
- -0.87%
- YTD
- 9.29%
- 6M
- 8.67%
- 1Y
- 18.47%
- 3Y*
- 11.63%
- 5Y*
- 4.45%
- 10Y*
- 4.10%
SPE vs. TNMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPE Special Opportunities Fund Inc. | -2.79% | 14.68% | 34.41% | 14.12% | -18.39% | 23.60% | 4.86% | 32.95% | -9.17% | 28.66% |
TNMIX 1290 Multi-Alternative Strategies Fund | 9.29% | 13.48% | 9.21% | 5.46% | -11.18% | 3.24% | 4.52% | 8.62% | -3.99% | 3.91% |
Correlation
The correlation between SPE and TNMIX is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
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 | 0.51 |
The correlation between SPE and TNMIX has been stable across timeframes, ranging from 0.50 to 0.52 - a consistent structural relationship.
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
SPE vs. TNMIX — Risk / Return Rank
SPE
TNMIX
SPE vs. TNMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Special Opportunities Fund Inc. (SPE) and 1290 Multi-Alternative Strategies Fund (TNMIX). 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 | TNMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.53 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.48 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 5.07 | -4.61 |
| Martin ratioReturn relative to average drawdown | 1.41 | 17.49 | -16.08 |
Loading charts...
Drawdowns
SPE vs. TNMIX - Drawdown Comparison
The maximum SPE drawdown since its inception was -46.90%, which is greater than TNMIX's maximum drawdown of -17.21%. Use the drawdown chart below to compare losses from any high point for SPE and TNMIX.
Loading charts...
Drawdown Indicators
| SPE | TNMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.90% | -17.21% | -29.69% |
Max Drawdown (1Y)Largest decline over 1 year | -9.33% | -3.63% | -5.70% |
Max Drawdown (3Y)Largest decline over 3 years | -13.69% | -7.17% | -6.52% |
Max Drawdown (5Y)Largest decline over 5 years | -24.18% | -16.00% | -8.18% |
Max Drawdown (10Y)Largest decline over 10 years | -46.90% | -17.21% | -29.69% |
Current DrawdownCurrent decline from peak | -6.05% | -1.81% | -4.24% |
Average DrawdownAverage peak-to-trough decline | -4.70% | -3.78% | -0.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 1.05% | +1.97% |
Volatility
SPE vs. TNMIX - Volatility Comparison
Special Opportunities Fund Inc. (SPE) has a higher volatility of 3.70% compared to 1290 Multi-Alternative Strategies Fund (TNMIX) at 2.51%. This indicates that SPE's price experiences larger fluctuations and is considered to be riskier than TNMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPE | TNMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.70% | 2.51% | +1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 8.84% | 6.54% | +2.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.08% | 7.75% | +3.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.61% | 7.69% | +5.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.38% | 7.15% | +10.23% |
SPE vs. TNMIX - Expense Ratio Comparison
SPE has a 1.11% expense ratio, which is higher than TNMIX's 0.85% expense ratio.
Dividends
SPE vs. TNMIX - Dividend Comparison
SPE's dividend yield for the trailing twelve months is around 17.14%, more than TNMIX's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPE Special Opportunities Fund Inc. | 17.14% | 13.73% | 7.83% | 8.77% | 11.58% | 11.64% | 8.01% | 6.35% | 14.10% | 16.53% | 5.93% | 9.02% |
TNMIX 1290 Multi-Alternative Strategies Fund | 1.99% | 2.18% | 1.57% | 3.38% | 2.86% | 10.67% | 0.78% | 3.06% | 1.24% | 0.37% | 0.62% | 0.00% |
Frequently Asked Questions
SPE and TNMIX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPE has higher volatility (3.70%) compared to TNMIX (2.51%). In terms of maximum drawdown, SPE dropped -46.90% vs TNMIX's -17.21%.
TNMIX currently has the higher Sharpe Ratio (2.38 vs 0.39), 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 SPE and TNMIX
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