TNUIX vs. TNMAX
TNUIX (1290 Diversified Bond Fund) and TNMAX (1290 Multi-Alternative Strategies Fund Class A) are both mutual funds - TNUIX is a Intermediate Core-Plus Bond fund managed by 1290 Funds, while TNMAX is a Multistrategy fund actively managed by 1290 Funds. Over the past 10 years, TNUIX returned 2.91%/yr vs 3.64%/yr for TNMAX. Their 0.26 correlation means their historical movements had little consistent relationship. TNUIX charges 0.50%/yr vs 1.52%/yr for TNMAX.
Performance
TNUIX vs. TNMAX - Performance Comparison
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Returns By Period
In the year-to-date period, TNUIX achieves a 3.01% return, which is significantly lower than TNMAX's 8.52% return. Over the past 10 years, TNUIX has underperformed TNMAX with an annualized return of 2.91%, while TNMAX has yielded a comparatively higher 3.64% annualized return.
TNUIX
- 1D
- 0.00%
- 1M
- 0.12%
- 6M
- 1.67%
- YTD
- 3.01%
- 1Y
- 5.20%
- 3Y*
- 3.70%
- 5Y*
- -0.75%
- 10Y*
- 2.91%
- ALL TIME*
- 2.47%
TNMAX
- 1D
- 0.80%
- 1M
- 0.71%
- 6M
- 4.23%
- YTD
- 8.52%
- 1Y
- 16.77%
- 3Y*
- 10.27%
- 5Y*
- 4.03%
- 10Y*
- 3.64%
- ALL TIME*
- 4.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
TNUIX vs. TNMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TNUIX 1290 Diversified Bond Fund | 3.01% | 10.61% | -3.72% | 3.21% | -12.54% | -2.46% | 17.14% | 10.28% | 2.30% | 3.47% |
TNMAX 1290 Multi-Alternative Strategies Fund Class A | 8.52% | 13.21% | 8.95% | 5.08% | -11.31% | 3.00% | 4.28% | 7.38% | -4.34% | 3.91% |
Correlation
The correlation between TNUIX and TNMAX is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.26 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.26 |
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Return for Risk
TNUIX vs. TNMAX — Risk / Return Rank
TNUIX
TNMAX
TNUIX vs. TNMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 1290 Diversified Bond Fund (TNUIX) and 1290 Multi-Alternative Strategies Fund Class A (TNMAX). 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.
| TNUIX | TNMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.39 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 4.40 | -2.06 |
| Martin ratioReturn relative to average drawdown | 6.49 | 11.82 | -5.33 |
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Drawdowns
TNUIX vs. TNMAX - Drawdown Comparison
The maximum TNUIX drawdown since its inception was -26.30%, which is greater than TNMAX's maximum drawdown of -17.29%. Use the drawdown chart below to compare losses from any high point for TNUIX and TNMAX.
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Drawdown Indicators
| TNUIX | TNMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.30% | -17.29% | -9.01% |
Max Drawdown (1Y)Largest decline over 1 year | -2.71% | -3.64% | +0.93% |
Max Drawdown (3Y)Largest decline over 3 years | -11.28% | -7.27% | -4.01% |
Max Drawdown (5Y)Largest decline over 5 years | -24.99% | -16.24% | -8.75% |
Max Drawdown (10Y)Largest decline over 10 years | -26.30% | -17.29% | -9.01% |
Current DrawdownCurrent decline from peak | -5.78% | -2.41% | -3.37% |
Average DrawdownAverage peak-to-trough decline | -6.28% | -4.00% | -2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 1.35% | -0.37% |
Volatility
TNUIX vs. TNMAX - Volatility Comparison
The current volatility for 1290 Diversified Bond Fund (TNUIX) is 1.16%, while 1290 Multi-Alternative Strategies Fund Class A (TNMAX) has a volatility of 1.90%. This indicates that TNUIX experiences smaller price fluctuations and is considered to be less risky than TNMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TNUIX | TNMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 1.90% | -0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 4.18% | 6.60% | -2.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.50% | 8.01% | -2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.50% | 7.70% | +1.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.74% | 7.17% | +0.57% |
TNUIX vs. TNMAX - Expense Ratio Comparison
TNUIX has a 0.50% expense ratio, which is lower than TNMAX's 1.52% expense ratio.
Dividends
TNUIX vs. TNMAX - Dividend Comparison
TNUIX's dividend yield for the trailing twelve months is around 3.38%, more than TNMAX's 1.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
TNMAX 1290 Multi-Alternative Strategies Fund Class A | 1.78% | 1.94% | 1.33% | 3.12% | 2.59% | 10.42% | 0.55% | 1.92% | 0.97% | 0.37% | 0.37% |
TNUIX 1290 Diversified Bond Fund | 3.38% | 7.28% | 6.39% | 3.71% | 3.51% | 4.61% | 2.68% | 8.07% | 3.67% | 2.94% | 0.12% |
Frequently Asked Questions
TNUIX and TNMAX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TNMAX has higher volatility (1.90%) compared to TNUIX (1.16%). In terms of maximum drawdown, TNUIX dropped -26.30% vs TNMAX's -17.29%.
TNMAX currently has the higher Sharpe Ratio (2.01 vs 1.16), 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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