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SRRIX vs. ^CASHX
Performance
Return for Risk
Drawdowns
Volatility

SRRIX vs. ^CASHX

Last updated Jun 9, 2026

SRRIX (Stone Ridge Reinsurance Risk Premium Interval Fund) is Multistrategy fund actively managed by Stone Ridge, while ^CASHX (US Money Market Index) is an index. Over the past 10 years, SRRIX returned 8.82%/yr vs 2.32%/yr for ^CASHX. At a 0.20 correlation, their price movements are largely independent.

Performance

SRRIX vs. ^CASHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Stone Ridge Reinsurance Risk Premium Interval Fund (SRRIX) and US Money Market Index (^CASHX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SRRIX achieves a 8.65% return, which is significantly higher than ^CASHX's 1.54% return. Over the past 10 years, SRRIX has outperformed ^CASHX with an annualized return of 8.82%, while ^CASHX has yielded a comparatively lower 2.32% annualized return.

SRRIX

1D
0.03%
1M
1.02%
YTD
8.65%
6M
10.75%
1Y
36.79%
3Y*
32.66%
5Y*
21.90%
10Y*
8.82%

^CASHX

1D
0.01%
1M
0.26%
YTD
1.54%
6M
1.77%
1Y
3.88%
3Y*
4.64%
5Y*
3.52%
10Y*
2.32%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SRRIX vs. ^CASHX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SRRIX
Stone Ridge Reinsurance Risk Premium Interval Fund		8.65%29.63%33.14%44.73%5.10%-6.47%4.30%-4.47%-6.14%-11.35%
^CASHX
US Money Market Index		1.54%4.21%5.16%5.03%1.68%0.08%0.37%2.16%1.83%1.00%

Correlation

The correlation between SRRIX and ^CASHX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.22

Correlation (3Y)
Calculated over the trailing 3-year period

-0.11

Correlation (5Y)
Calculated over the trailing 5-year period

0.12

Correlation (10Y)
Calculated over the trailing 10-year period

0.22

Correlation (All Time)
Calculated using the full available price history since Dec 10, 2013

0.20

The correlation between SRRIX and ^CASHX shifts across timeframes, from -0.11 (3 years) to 0.22 (10 years), reflecting how their relationship changes across market environments.

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Stone Ridge Reinsurance Risk Premium Interval Fund

US Money Market Index

Often compared with SRRIX:
SRRIX vs. SHRIXSRRIX vs. XILSXSRRIX vs. WRPIXSRRIX vs. ADANXSRRIX vs. TNMAXSRRIX vs. SYMIXSRRIX vs. FABZX
Often compared with ^CASHX:
^CASHX vs. SPAXX^CASHX vs. VBIL^CASHX vs. VUSXX^CASHX vs. VMRXX^CASHX vs. SWVXX^CASHX vs. FXNAX^CASHX vs. JAAA

Return for Risk

SRRIX vs. ^CASHX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SRRIX
SRRIX Risk / Return Rank: 100100
Overall Rank
SRRIX Sharpe Ratio Rank: 100100
Sharpe Ratio Rank
SRRIX Sortino Ratio Rank: 100100
Sortino Ratio Rank
SRRIX Omega Ratio Rank: 100100
Omega Ratio Rank
SRRIX Calmar Ratio Rank: 100100
Calmar Ratio Rank
SRRIX Martin Ratio Rank: 100100
Martin Ratio Rank
^CASHX
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.

SRRIX vs. ^CASHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Stone Ridge Reinsurance Risk Premium Interval Fund (SRRIX) and US Money Market Index (^CASHX). 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.

SRRIX^CASHXDifference
Sharpe ratioReturn per unit of total volatility
14.35
258.44

-244.09

Sortino ratioReturn per unit of downside risk
48.36

—

—

Omega ratioGain probability vs. loss probability

30.05

—

—

Calmar ratioReturn relative to maximum drawdown

66.97

—

—

Martin ratioReturn relative to average drawdown

702.18

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SRRIX vs. ^CASHX - Sharpe Ratio Comparison

The current SRRIX Sharpe Ratio is 14.35, which is lower than the ^CASHX Sharpe Ratio of 258.44. The chart below compares the historical Sharpe Ratios of SRRIX and ^CASHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SRRIX^CASHXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

14.35

258.44

-244.09

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.58

36.67

-35.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.81

24.00

-23.20

Sharpe Ratio (All Time)

Calculated using the full available price history

0.88

25.99

-25.11

Drawdowns

SRRIX vs. ^CASHX - Drawdown Comparison

The maximum SRRIX drawdown since its inception was -27.22%, which is greater than ^CASHX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SRRIX and ^CASHX.

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Drawdown Indicators

SRRIX^CASHXDifference

Max Drawdown

Largest peak-to-trough decline

-27.22%

0.00%

-27.22%

Max Drawdown (1Y)

Largest decline over 1 year

-0.55%

0.00%

-0.55%

Max Drawdown (3Y)

Largest decline over 3 years

-17.26%

0.00%

-17.26%

Max Drawdown (5Y)

Largest decline over 5 years

-17.26%

0.00%

-17.26%

Max Drawdown (10Y)

Largest decline over 10 years

-27.22%

0.00%

-27.22%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-9.89%

0.00%

-9.89%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.05%

0.00%

+0.05%

Volatility

SRRIX vs. ^CASHX - Volatility Comparison

Stone Ridge Reinsurance Risk Premium Interval Fund (SRRIX) has a higher volatility of 0.28% compared to US Money Market Index (^CASHX) at 0.00%. This indicates that SRRIX's price experiences larger fluctuations and is considered to be riskier than ^CASHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SRRIX^CASHXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.28%

0.00%

+0.28%

Volatility (6M)

Calculated over the trailing 6-month period

0.89%

0.00%

+0.89%

Volatility (1Y)

Calculated over the trailing 1-year period

2.58%

0.01%

+2.57%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.94%

0.08%

+13.86%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.01%

0.08%

+10.93%

Frequently Asked Questions

SRRIX and ^CASHX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SRRIX has higher volatility (0.28%) compared to ^CASHX (0.00%). In terms of maximum drawdown, SRRIX dropped -27.22% vs ^CASHX's 0.00%.

^CASHX currently has the higher Sharpe Ratio (258.44 vs 14.35), 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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