SRDAX vs. ARBIX

Last updated Apr 2, 2026

Compare and contrast key facts about Stone Ridge Diversified Alternatives Fund (SRDAX) and Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX).

SRDAX is managed by STONE RIDGE. It was launched on Apr 29, 2020. ARBIX is an actively managed fund by Absolute Investment Advisers. It was launched on Aug 14, 2017.

Performance

SRDAX vs. ARBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Stone Ridge Diversified Alternatives Fund (SRDAX) and Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX). The values are adjusted to include any dividend payments, if applicable.

SRDAX vs. ARBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SRDAX Stone Ridge Diversified Alternatives Fund	2.84%	0.37%	8.46%	19.56%	2.03%	10.62%	1.97%
ARBIX Absolute Convertible Arbitrage Fund Institutional Shares	1.65%	8.29%	7.53%	5.30%	-0.53%	2.95%	2.39%

Returns By Period

In the year-to-date period, SRDAX achieves a 2.84% return, which is significantly higher than ARBIX's 1.65% return.

SRDAX

• 1D: -0.29%
• 1M: 2.32%
• YTD: 2.84%
• 6M: 3.51%
• 1Y: 2.74%
• 3Y*: 8.17%
• 5Y*: 8.00%
• 10Y*: —

ARBIX

• 1D: 0.26%
• 1M: -0.26%
• YTD: 1.65%
• 6M: 3.28%
• 1Y: 7.86%
• 3Y*: 7.16%
• 5Y*: 4.72%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SRDAX vs. ARBIX - Expense Ratio Comparison

SRDAX has a 1.27% expense ratio, which is lower than ARBIX's 1.47% expense ratio.

ARBIX

Absolute Convertible Arbitrage Fund Institutional Shares

SRDAX

Stone Ridge Diversified Alternatives Fund

Return for Risk

SRDAX vs. ARBIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SRDAX

SRDAX Risk / Return Rank: 16
SRDAX Sharpe Ratio Rank: 20
SRDAX Sortino Ratio Rank: 14
SRDAX Omega Ratio Rank: 19
SRDAX Calmar Ratio Rank: 15
SRDAX Martin Ratio Rank: 11

ARBIX

ARBIX Risk / Return Rank: 100
ARBIX Sharpe Ratio Rank: 100
ARBIX Sortino Ratio Rank: 100
ARBIX Omega Ratio Rank: 99
ARBIX Calmar Ratio Rank: 100
ARBIX Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SRDAX vs. ARBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Stone Ridge Diversified Alternatives Fund (SRDAX) and Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX). 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.

	SRDAX	ARBIX	Difference
Sharpe ratio Return per unit of total volatility	0.59	6.20	-5.61
Sortino ratio Return per unit of downside risk	0.71	11.37	-10.65
Omega ratio Gain probability vs. loss probability	1.13	3.06	-1.93
Calmar ratio Return relative to maximum drawdown	0.48	15.19	-14.71
Martin ratio Return relative to average drawdown	0.96	70.66	-69.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SRDAX vs. ARBIX - Sharpe Ratio Comparison

The current SRDAX Sharpe Ratio is 0.59, which is lower than the ARBIX Sharpe Ratio of 6.20. The chart below compares the historical Sharpe Ratios of SRDAX and ARBIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SRDAX	ARBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	6.20	-5.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.14	2.59	-1.45
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	0.10	+1.10

Correlation

The correlation between SRDAX and ARBIX is -0.02. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

SRDAX vs. ARBIX - Dividend Comparison

SRDAX's dividend yield for the trailing twelve months is around 8.30%, more than ARBIX's 5.25% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SRDAX Stone Ridge Diversified Alternatives Fund	8.30%	8.53%	8.16%	14.97%	3.22%	8.99%	3.07%	0.00%	0.00%	0.00%
ARBIX Absolute Convertible Arbitrage Fund Institutional Shares	5.25%	5.34%	4.87%	3.62%	3.33%	3.12%	2.92%	2.83%	1.97%	0.24%

Drawdowns

SRDAX vs. ARBIX - Drawdown Comparison

The maximum SRDAX drawdown since its inception was -11.90%, which is greater than ARBIX's maximum drawdown of -4.31%. Use the drawdown chart below to compare losses from any high point for SRDAX and ARBIX.

Drawdown Indicators

	SRDAX	ARBIX	Difference
Max Drawdown Largest peak-to-trough decline	-11.90%	-4.31%	-7.59%
Max Drawdown (1Y) Largest decline over 1 year	-5.89%	-0.51%	-5.38%
Max Drawdown (5Y) Largest decline over 5 years	-11.90%	-4.02%	-7.88%
Current Drawdown Current decline from peak	-0.29%	-0.26%	-0.03%
Average Drawdown Average peak-to-trough decline	-2.41%	-0.40%	-2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	0.11%	+2.94%

Volatility

SRDAX vs. ARBIX - Volatility Comparison

Stone Ridge Diversified Alternatives Fund (SRDAX) has a higher volatility of 0.84% compared to Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX) at 0.47%. This indicates that SRDAX's price experiences larger fluctuations and is considered to be riskier than ARBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SRDAX	ARBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.84%	0.47%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	2.56%	0.90%	+1.66%
Volatility (1Y) Calculated over the trailing 1-year period	4.52%	1.28%	+3.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.03%	1.83%	+5.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.87%	745.92%	-739.05%