TNMIX vs. TNBIX

Last updated Jun 3, 2026

TNMIX (1290 Multi-Alternative Strategies Fund) and TNBIX (1290 SmartBeta Equity Fund) are both mutual funds - TNMIX is a Multistrategy fund managed by 1290 Funds, while TNBIX is a Global Equities fund managed by 1290 Funds. Over the past 10 years, TNMIX returned 4.25%/yr vs 10.58%/yr for TNBIX. A 0.72 correlation means they provide meaningful diversification when combined. Both charge a 0.85% expense ratio.

Performance

TNMIX vs. TNBIX - Performance Comparison

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

Returns By Period

In the year-to-date period, TNMIX achieves a 10.34% return, which is significantly higher than TNBIX's 3.71% return. Over the past 10 years, TNMIX has underperformed TNBIX with an annualized return of 4.25%, while TNBIX has yielded a comparatively higher 10.58% annualized return.

TNMIX

• 1D: 0.09%
• 1M: 0.61%
• YTD: 10.34%
• 6M: 11.04%
• 1Y: 20.72%
• 3Y*: 12.55%
• 5Y*: 4.41%
• 10Y*: 4.25%

TNBIX

• 1D: -0.43%
• 1M: 0.48%
• YTD: 3.71%
• 6M: 4.50%
• 1Y: 11.45%
• 3Y*: 14.70%
• 5Y*: 8.97%
• 10Y*: 10.58%

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

TNMIX vs. TNBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TNMIX 1290 Multi-Alternative Strategies Fund	10.34%	13.48%	9.21%	5.46%	-11.18%	3.24%	4.52%	8.62%	-3.99%	3.91%
TNBIX 1290 SmartBeta Equity Fund	3.71%	13.93%	16.70%	16.79%	-14.43%	22.84%	11.09%	26.66%	-5.66%	19.93%

Correlation

The correlation between TNMIX and TNBIX is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.72

The correlation between TNMIX and TNBIX shifts across timeframes, from 0.63 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TNMIX vs. TNBIX — Risk / Return Rank

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

TNMIX

TNMIX Risk / Return Rank: 90
TNMIX Sharpe Ratio Rank: 89
TNMIX Sortino Ratio Rank: 82
TNMIX Omega Ratio Rank: 88
TNMIX Calmar Ratio Rank: 95
TNMIX Martin Ratio Rank: 95

TNBIX

TNBIX Risk / Return Rank: 22
TNBIX Sharpe Ratio Rank: 21
TNBIX Sortino Ratio Rank: 21
TNBIX Omega Ratio Rank: 20
TNBIX Calmar Ratio Rank: 18
TNBIX Martin Ratio Rank: 29

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. TNBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 1290 Multi-Alternative Strategies Fund (TNMIX) and 1290 SmartBeta Equity Fund (TNBIX). 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	TNBIX	Difference
Sharpe ratio Return per unit of total volatility	2.92	1.33	+1.59
Sortino ratio Return per unit of downside risk	3.87	1.93	+1.94
Omega ratio Gain probability vs. loss probability	1.61	1.24	+0.37
Calmar ratio Return relative to maximum drawdown	5.91	1.56	+4.35
Martin ratio Return relative to average drawdown	22.41	6.90	+15.51
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. TNBIX - Sharpe Ratio Comparison

The current TNMIX Sharpe Ratio is 2.92, which is higher than the TNBIX Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of TNMIX and TNBIX, 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	TNBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.92	1.33	+1.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.68	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.72	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.64	+0.01

Drawdowns

TNMIX vs. TNBIX - Drawdown Comparison

The maximum TNMIX drawdown since its inception was -17.21%, smaller than the maximum TNBIX drawdown of -30.11%. Use the drawdown chart below to compare losses from any high point for TNMIX and TNBIX.

Drawdown Indicators

	TNMIX	TNBIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.21%	-30.11%	+12.90%
Max Drawdown (1Y) Largest decline over 1 year	-3.63%	-7.76%	+4.13%
Max Drawdown (3Y) Largest decline over 3 years	-7.17%	-12.07%	+4.90%
Max Drawdown (5Y) Largest decline over 5 years	-16.15%	-23.13%	+6.98%
Max Drawdown (10Y) Largest decline over 10 years	-17.21%	-30.11%	+12.90%
Current Drawdown Current decline from peak	-0.86%	-0.66%	-0.20%
Average Drawdown Average peak-to-trough decline	-3.79%	-3.97%	+0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	1.75%	-0.79%

Volatility

TNMIX vs. TNBIX - Volatility Comparison

The current volatility for 1290 Multi-Alternative Strategies Fund (TNMIX) is 1.59%, while 1290 SmartBeta Equity Fund (TNBIX) has a volatility of 2.08%. This indicates that TNMIX experiences smaller price fluctuations and is considered to be less risky than TNBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TNMIX	TNBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.59%	2.08%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	6.17%	6.87%	-0.70%
Volatility (1Y) Calculated over the trailing 1-year period	7.40%	8.91%	-1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.65%	13.23%	-5.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.13%	14.79%	-7.66%

TNMIX vs. TNBIX - Expense Ratio Comparison

Both TNMIX and TNBIX have an expense ratio of 0.85%.

Dividends

TNMIX vs. TNBIX - Dividend Comparison

TNMIX's dividend yield for the trailing twelve months is around 1.97%, less than TNBIX's 4.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
TNBIX 1290 SmartBeta Equity Fund	4.62%	4.80%	4.47%	1.44%	1.08%	7.47%	1.31%	2.27%	5.45%	1.59%	1.32%
TNMIX 1290 Multi-Alternative Strategies Fund	1.97%	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 TNBIX in my portfolio?

TNMIX and TNBIX have a correlation of 0.63, 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 TNBIX?

TNBIX has higher volatility (2.08%) compared to TNMIX (1.59%). In terms of maximum drawdown, TNMIX dropped -17.21% vs TNBIX's -30.11%.

Which has better risk-adjusted returns?

TNMIX currently has the higher Sharpe Ratio (2.92 vs 1.33), 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.