SRDAX vs. GAFYX
SRDAX (Stone Ridge Diversified Alternatives Fund) and GAFYX (AlphaSimplex Global Alternatives Fund) are both Multistrategy funds. Over the past 5 years, SRDAX returned 8.17%/yr vs 6.29%/yr for GAFYX. At a correlation of -0.08, they often move in opposite directions. SRDAX charges 1.27%/yr vs 1.24%/yr for GAFYX.
Performance
SRDAX vs. GAFYX - Performance Comparison
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Returns By Period
In the year-to-date period, SRDAX achieves a 4.36% return, which is significantly lower than GAFYX's 10.35% return.
SRDAX
- 1D
- 0.00%
- 1M
- -0.19%
- YTD
- 4.36%
- 6M
- 4.04%
- 1Y
- 8.83%
- 3Y*
- 7.72%
- 5Y*
- 8.17%
- 10Y*
- —
GAFYX
- 1D
- 0.55%
- 1M
- 0.87%
- YTD
- 10.35%
- 6M
- 9.97%
- 1Y
- 16.96%
- 3Y*
- 8.81%
- 5Y*
- 6.29%
- 10Y*
- 4.94%
SRDAX vs. GAFYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SRDAX Stone Ridge Diversified Alternatives Fund | 4.36% | 0.37% | 8.46% | 19.56% | 2.03% | 10.62% | 1.97% |
GAFYX AlphaSimplex Global Alternatives Fund | 10.35% | 6.68% | 9.66% | 3.77% | -0.49% | 1.29% | 3.53% |
Correlation
The correlation between SRDAX and GAFYX is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2020 | -0.08 |
The correlation between SRDAX and GAFYX shifts across timeframes, from -0.21 (1 year) to -0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SRDAX vs. GAFYX — Risk / Return Rank
SRDAX
GAFYX
SRDAX vs. GAFYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Stone Ridge Diversified Alternatives Fund (SRDAX) and AlphaSimplex Global Alternatives Fund (GAFYX). 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.
| SRDAX | GAFYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 1.41 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 3.24 | +0.11 |
| Martin ratioReturn relative to average drawdown | 12.97 | 13.63 | -0.66 |
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Drawdowns
SRDAX vs. GAFYX - Drawdown Comparison
The maximum SRDAX drawdown since its inception was -11.90%, smaller than the maximum GAFYX drawdown of -19.49%. Use the drawdown chart below to compare losses from any high point for SRDAX and GAFYX.
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Drawdown Indicators
| SRDAX | GAFYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.90% | -19.49% | +7.59% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -5.19% | +2.52% |
Max Drawdown (3Y)Largest decline over 3 years | -6.15% | -9.74% | +3.59% |
Max Drawdown (5Y)Largest decline over 5 years | -11.90% | -9.74% | -2.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -13.26% | — |
Current DrawdownCurrent decline from peak | -0.77% | -0.70% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -2.32% | -4.62% | +2.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.69% | 1.23% | -0.54% |
Volatility
SRDAX vs. GAFYX - Volatility Comparison
The current volatility for Stone Ridge Diversified Alternatives Fund (SRDAX) is 0.72%, while AlphaSimplex Global Alternatives Fund (GAFYX) has a volatility of 3.44%. This indicates that SRDAX experiences smaller price fluctuations and is considered to be less risky than GAFYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SRDAX | GAFYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 3.44% | -2.72% |
Volatility (6M)Calculated over the trailing 6-month period | 2.43% | 7.04% | -4.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.28% | 8.05% | -4.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.98% | 7.28% | -0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.76% | 6.82% | -0.06% |
SRDAX vs. GAFYX - Expense Ratio Comparison
SRDAX has a 1.27% expense ratio, which is higher than GAFYX's 1.24% expense ratio.
Dividends
SRDAX vs. GAFYX - Dividend Comparison
SRDAX's dividend yield for the trailing twelve months is around 8.18%, while GAFYX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GAFYX AlphaSimplex Global Alternatives Fund | 0.00% | 0.00% | 0.00% | 5.24% | 9.57% | 0.00% | 2.57% | 1.16% | 1.37% | 0.74% | 0.00% | 3.53% |
SRDAX Stone Ridge Diversified Alternatives Fund | 8.18% | 8.53% | 8.16% | 14.97% | 3.22% | 8.99% | 3.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SRDAX and GAFYX have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GAFYX has higher volatility (3.44%) compared to SRDAX (0.72%). In terms of maximum drawdown, SRDAX dropped -11.90% vs GAFYX's -19.49%.
SRDAX currently has the higher Sharpe Ratio (2.74 vs 2.09), 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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