Water Island Credit Opportunities Fund I (ACFIX)
9.84
0.00 (0.00%)
USD |
Dec 04 2025
Returns Chart
Key Stats
| Net Expense Ratio | Total Assets Under Management | Weighted Average Dividend Yield | Turnover Ratio (Generic) |
|---|---|---|---|
| 0.99% | 158.67M | -- | 132.0% |
| 1 Year Fund Level Flows | 1 Year Total Returns (Daily) | Annualized Total Returns Since Inception (Daily) | Max Drawdown (Since Inception) |
| 6.749M | 5.14% | Upgrade | Upgrade |
Basic Info
| Investment Strategy | |
| The Fund seeks to provide current income and capital growth. The Fund invests in debt securities including corporate bonds and debentures, bank loans, convertible and preferred securities, credit default swaps and other debt instruments and derivatives that the Adviser believes have debt-like characteristics. |
| General | |
| Security Type | Mutual Fund |
| Broad Asset Class | Taxable Bond |
| Broad Category | Alternative Strategies |
| Global Peer Group | Alternative Credit Focus |
| Peer Group | Alternative Credit Focus Funds |
| Global Macro | Alternative Bond |
| US Macro | Alternative Bond Funds |
| YCharts Categorization | -- |
| YCharts Benchmark | -- |
| Prospectus Objective | Alternative Credit Focus Funds |
| Fund Owner Firm Name | Arbitrage Funds |
| Broad Asset Class Benchmark Index | |
| ^BBUSATR | 100.0% |
Net Fund Flows Versus Peer Group
1 Month
% Rank:
80
-50.38M
Peer Group Low
154.41M
Peer Group High
1 Year
% Rank:
54
6.749M
-498.54M
Peer Group Low
1.816B
Peer Group High
3 Months
% Rank:
77
-338.78M
Peer Group Low
392.18M
Peer Group High
3 Years
% Rank:
50
-1.931B
Peer Group Low
2.246B
Peer Group High
6 Months
% Rank:
76
-507.68M
Peer Group Low
1.087B
Peer Group High
5 Years
% Rank:
49
-1.939B
Peer Group Low
4.916B
Peer Group High
YTD
% Rank:
52
-491.29M
Peer Group Low
1.611B
Peer Group High
10 Years
% Rank:
44
-16.70B
Peer Group Low
5.256B
Peer Group High
Date Unavailable
Risk
Performance Versus Peer Group
Annual Total Returns Versus Peers
As of December 05, 2025.
Asset Allocation
As of August 31, 2025.
| Type | % Net |
|---|---|
| Cash | 4.28% |
| Stock | -14.05% |
| Bond | 94.28% |
| Convertible | 0.00% |
| Preferred | 3.65% |
| Other | 11.85% |
Top 10 Holdings
| Name | % Weight | Price | % Change |
|---|---|---|---|
|
Morgan Stanley Equity Swap
|
15.72% | -- | -- |
| Spotify USA Inc. SPOUSA 0.0 03/15/2026 FIX USD Corporate 144A | 4.11% | 112.13 | 0.59% |
| Frontier Communications Holdings, LLC FRCOMM 8.75 05/15/2030 FIX USD Corporate 144A | 4.10% | 104.51 | -0.02% |
| State Street US Government Money Market Fund Prem | 4.03% | 1.00 | 0.00% |
| Morgan Stanley Inst Liq Govt Port Institutional | 4.03% | 1.00 | 0.00% |
| BOOST NEWCO BORROWER, LLC BOOSNEW 7.5 01/15/2031 FIX USD Corporate 144A | 3.75% | 106.47 | -0.02% |
| THE BOEING COMPANY BA 6.0 10/15/2027 FIX USD Corporate | 3.65% | 65.93 | -2.03% |
| Uber Technologies, Inc. UBERTEC 0.0 12/15/2025 FIX USD Corporate | 3.60% | 109.62 | -0.62% |
| Spirit AeroSystems, Inc. OCXCN-SASI 9.75 11/15/2030 FIX USD Corporate 144A | 3.31% | 109.75 | 0.05% |
| WINDSTREAM SERVICES, LLC WSERVI 02/15/2028 FIX USD Corporate 144A (Called) | 3.22% | 105.43 | 0.12% |
Fees & Availability
| Fees | |
| Actual 12B-1 Fee | -- |
| Actual Management Fee | 0.59% |
| Administration Fee | 99.50K% |
| Maximum Front Load | -- |
| Maximum Deferred Load | -- |
| Maximum Redemption Fee | 0.00% |
| General Availability | |
| Available for Insurance Product | No |
| Available for RRSP | No |
| Purchase Details | |
| Open to New Investors |
|
| Minimum Initial Investment | 100000.0 None |
| Minimum Subsequent Investment | 0.00 None |
Basic Info
| Investment Strategy | |
| The Fund seeks to provide current income and capital growth. The Fund invests in debt securities including corporate bonds and debentures, bank loans, convertible and preferred securities, credit default swaps and other debt instruments and derivatives that the Adviser believes have debt-like characteristics. |
| General | |
| Security Type | Mutual Fund |
| Broad Asset Class | Taxable Bond |
| Broad Category | Alternative Strategies |
| Global Peer Group | Alternative Credit Focus |
| Peer Group | Alternative Credit Focus Funds |
| Global Macro | Alternative Bond |
| US Macro | Alternative Bond Funds |
| YCharts Categorization | -- |
| YCharts Benchmark | -- |
| Prospectus Objective | Alternative Credit Focus Funds |
| Fund Owner Firm Name | Arbitrage Funds |
| Broad Asset Class Benchmark Index | |
| ^BBUSATR | 100.0% |
Fundamentals
| General | |
| Distribution Yield | -- |
| Dividend Yield TTM (12-3-25) | 4.20% |
| 30-Day SEC Yield | -- |
| 7-Day SEC Yield | -- |
| Number of Holdings | 62 |
| Stock | |
| Weighted Average PE Ratio | 45.92 |
| Weighted Average Price to Sales Ratio | 1.548 |
| Weighted Average Price to Book Ratio | 1.914 |
| Weighted Median ROE | 1.77% |
| Weighted Median ROA | 0.84% |
| ROI (TTM) | 1.27% |
| Return on Investment (TTM) | 1.27% |
| Earning Yield | 0.0235 |
| LT Debt / Shareholders Equity | 0.7512 |
| Number of Equity Holdings | 13 |
| Bond | |
| Yield to Maturity (8-31-25) | 4.31% |
| Effective Duration | 0.70 |
| Average Coupon | 5.80% |
| Calculated Average Quality | 5.659 |
| Effective Maturity | 3.034 |
| Nominal Maturity | 3.439 |
| Number of Bond Holdings | 40 |
As of August 31, 2025
Growth Metrics
| EPS Growth (1Y) | 39.61% |
| EPS Growth (3Y) | -20.30% |
| EPS Growth (5Y) | -2.78% |
| Sales Growth (1Y) | 6.40% |
| Sales Growth (3Y) | -2.55% |
| Sales Growth (5Y) | 5.55% |
| Sales per Share Growth (1Y) | 3.29% |
| Sales per Share Growth (3Y) | 17.51% |
| Operating Cash Flow - Growth Rate (3Y) | -1.97% |
As of August 31, 2025
Top Portfolio Holders
| Name | % Weight |
|---|---|
| Portfolio A | 5.00% |
| Portfolio B | 3.50% |
| Portfolio C | 2.25% |
Excel Add-In Codes
| Name: =YCI("M:ACFIX", "name") |
| Broad Asset Class: =YCI("M:ACFIX", "broad_asset_class") |
| Broad Category: =YCI("M:ACFIX", "broad_category_group") |
| Prospectus Objective: =YCI("M:ACFIX", "prospectus_objective") |
| To find the codes for any of our securities and financial metrics, see our Complete Excel Reference. |