TNMIX vs. BAMBX

Last updated Jun 4, 2026

TNMIX (1290 Multi-Alternative Strategies Fund) and BAMBX (BlackRock Systematic Multi-Strategy Fund) are both Multistrategy funds. Over the past 10 years, TNMIX returned 4.29%/yr vs 4.21%/yr for BAMBX. At a 0.24 correlation, their price movements are largely independent. TNMIX charges 0.85%/yr vs 1.20%/yr for BAMBX.

Performance

TNMIX vs. BAMBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 1290 Multi-Alternative Strategies Fund (TNMIX) and BlackRock Systematic Multi-Strategy Fund (BAMBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TNMIX achieves a 10.73% return, which is significantly higher than BAMBX's -0.77% return. Both investments have delivered pretty close results over the past 10 years, with TNMIX having a 4.29% annualized return and BAMBX not far behind at 4.21%.

TNMIX

• 1D: 0.35%
• 1M: 0.87%
• YTD: 10.73%
• 6M: 11.11%
• 1Y: 21.14%
• 3Y*: 12.68%
• 5Y*: 4.67%
• 10Y*: 4.29%

BAMBX

• 1D: -0.10%
• 1M: -0.48%
• YTD: -0.77%
• 6M: 0.49%
• 1Y: 1.08%
• 3Y*: 5.70%
• 5Y*: 3.05%
• 10Y*: 4.21%

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

TNMIX vs. BAMBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TNMIX 1290 Multi-Alternative Strategies Fund	10.73%	13.48%	9.21%	5.46%	-11.18%	3.24%	4.52%	8.62%	-3.99%	3.91%
BAMBX BlackRock Systematic Multi-Strategy Fund	-0.77%	4.59%	6.61%	6.19%	-3.23%	5.84%	3.34%	8.25%	1.51%	9.72%

Correlation

The correlation between TNMIX and BAMBX 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	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.24

Return for Risk

TNMIX vs. BAMBX — Risk / Return Rank

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

TNMIX

TNMIX Risk / Return Rank: 89
TNMIX Sharpe Ratio Rank: 88
TNMIX Sortino Ratio Rank: 80
TNMIX Omega Ratio Rank: 87
TNMIX Calmar Ratio Rank: 95
TNMIX Martin Ratio Rank: 95

BAMBX

BAMBX Risk / Return Rank: 4
BAMBX Sharpe Ratio Rank: 4
BAMBX Sortino Ratio Rank: 3
BAMBX Omega Ratio Rank: 3
BAMBX Calmar Ratio Rank: 3
BAMBX Martin Ratio Rank: 4

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.

TNMIX vs. BAMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 1290 Multi-Alternative Strategies Fund (TNMIX) and BlackRock Systematic Multi-Strategy Fund (BAMBX). 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.

	TNMIX	BAMBX	Difference
Sharpe ratio Return per unit of total volatility	2.88	0.21	+2.67
Sortino ratio Return per unit of downside risk	3.82	0.34	+3.48
Omega ratio Gain probability vs. loss probability	1.61	1.04	+0.57
Calmar ratio Return relative to maximum drawdown	5.84	0.17	+5.67
Martin ratio Return relative to average drawdown	22.10	0.47	+21.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TNMIX vs. BAMBX - Sharpe Ratio Comparison

The current TNMIX Sharpe Ratio is 2.88, which is higher than the BAMBX Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of TNMIX and BAMBX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TNMIX	BAMBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.88	0.21	+2.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.83	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	1.17	-0.57
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	1.26	-0.61

Drawdowns

TNMIX vs. BAMBX - Drawdown Comparison

The maximum TNMIX drawdown since its inception was -17.21%, which is greater than BAMBX's maximum drawdown of -8.84%. Use the drawdown chart below to compare losses from any high point for TNMIX and BAMBX.

Drawdown Indicators

	TNMIX	BAMBX	Difference
Max Drawdown Largest peak-to-trough decline	-17.21%	-8.84%	-8.37%
Max Drawdown (1Y) Largest decline over 1 year	-3.63%	-5.19%	+1.56%
Max Drawdown (3Y) Largest decline over 3 years	-7.17%	-5.19%	-1.98%
Max Drawdown (5Y) Largest decline over 5 years	-16.15%	-6.66%	-9.49%
Max Drawdown (10Y) Largest decline over 10 years	-17.21%	-8.84%	-8.37%
Current Drawdown Current decline from peak	-0.52%	-4.82%	+4.30%
Average Drawdown Average peak-to-trough decline	-3.79%	-1.25%	-2.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	1.89%	-0.93%

Volatility

TNMIX vs. BAMBX - Volatility Comparison

1290 Multi-Alternative Strategies Fund (TNMIX) has a higher volatility of 1.63% compared to BlackRock Systematic Multi-Strategy Fund (BAMBX) at 1.26%. This indicates that TNMIX's price experiences larger fluctuations and is considered to be riskier than BAMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNMIX	BAMBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.63%	1.26%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	6.16%	3.37%	+2.79%
Volatility (1Y) Calculated over the trailing 1-year period	7.39%	4.16%	+3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.65%	3.67%	+3.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.12%	3.60%	+3.52%

TNMIX vs. BAMBX - Expense Ratio Comparison

TNMIX has a 0.85% expense ratio, which is lower than BAMBX's 1.20% expense ratio.

Dividends

TNMIX vs. BAMBX - Dividend Comparison

TNMIX's dividend yield for the trailing twelve months is around 1.96%, less than BAMBX's 1.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BAMBX BlackRock Systematic Multi-Strategy Fund	1.98%	1.97%	3.86%	4.13%	4.70%	2.39%	1.09%	3.73%	8.70%	3.81%	4.82%
TNMIX 1290 Multi-Alternative Strategies Fund	1.96%	2.18%	1.57%	3.38%	2.86%	10.67%	0.78%	3.06%	1.24%	0.37%	0.62%

Frequently Asked Questions

Can I hold both TNMIX and BAMBX in my portfolio?

TNMIX and BAMBX 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.

Which is riskier, TNMIX or BAMBX?

TNMIX has higher volatility (1.63%) compared to BAMBX (1.26%). In terms of maximum drawdown, TNMIX dropped -17.21% vs BAMBX's -8.84%.

Which has better risk-adjusted returns?

TNMIX currently has the higher Sharpe Ratio (2.88 vs 0.21), 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.