BIVIX Performance — Invenomic Fund, Institutional Class
Data updated: 2026-09-28
BIVIX returned +6.78% year to date and +15.55% over one year to Jul 2026. Annualised returns are +2.51% over 3 years and +15.54% over 5 years. The fund trailed its US Small Value category average: $100 invested three years ago grew to $108, against $147 for the category, and to $116 over one year, against $131. Volatility over the past three years was 22.82% a year. In the 12 months to Jul 2026 the fund lost a net $86.6M, and assets reached $854.85M.
BIVIX Growth of $100
What $100 invested in Invenomic Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Value category average over the same months.
| Period | BIVIX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $116 | $131 |
| 3 years (Aug 2023 – Jul 2026) | $108 | $147 |
| 5 years (Aug 2021 – Jul 2026) | $206 | $154 |
| Since data start (Feb 2020 – Jul 2026) | $340 | $212 |
BIVIX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +6.78% |
| 1 year | +15.55% |
| 3 years (annualised) | +2.51% |
| 5 years (annualised) | +15.54% |
BIVIX Annual Returns
Calendar-year total returns of Invenomic Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +6.78% |
| 2025 | +4.58% |
| 2024 | −8.76% |
| 2023 | +16.57% |
| 2022 | +49.89% |
| 2021 | +61.25% |
| 2020 (Feb–Dec) | +18.52% |
BIVIX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | −3.1% | +6.7% | +0.4% | −9.8% | −5.9% | −6.3% | +29.4% | — | — | — | — | — |
| 2025 | −1.6% | +1.9% | +3.3% | −5.3% | −0.7% | −0.2% | −0.5% | +9.3% | −5.6% | −7.2% | +7.3% | +5.4% |
| 2024 | −2.7% | −7.4% | +3.8% | +0.5% | −1.2% | −5.3% | +2.6% | −0.1% | −2.1% | +0.4% | −0.1% | +3.0% |
| 2023 | +10.1% | −2.0% | +3.3% | +2.5% | −3.4% | −1.8% | +1.8% | +1.8% | +1.7% | +1.1% | +0.2% | +0.8% |
| 2022 | +20.1% | +4.2% | +3.1% | +6.9% | +6.6% | −7.0% | −1.0% | 0.0% | −3.8% | +5.6% | +6.3% | +2.7% |
| 2021 | +2.3% | +11.0% | +16.5% | +2.8% | +12.3% | −10.6% | +2.1% | −0.5% | +2.3% | −1.3% | +3.5% | +11.2% |
| 2020 | — | −6.0% | −3.1% | +9.0% | −3.7% | +1.3% | +0.1% | +1.3% | −2.7% | +3.5% | +15.6% | +3.7% |
BIVIX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 22.82%
- 3-year Sharpe ratio: -0.09 (vs 4.5% risk-free rate)
- Best month: +29.45% (Jul 2026)
- Worst month: −9.80% (Apr 2026)
BIVIX Fund Flows
Monthly money in and out of Invenomic Fund, from SEC Form N-PORT.
- 12-month net flow: −$86.6M
- 12-month gross sales (incl. reinvestments): $580.8M
- Sales ÷ redemptions: 0.87×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $209.2M | $61.0M | $148.2M |
| Jun 2026 | $17.8M | $253.2M | −$235.4M |
| May 2026 | $16.9M | $88.2M | −$71.3M |
| Apr 2026 | $13.9M | $26.3M | −$12.5M |
| Mar 2026 | $31.1M | $14.6M | $16.5M |
| Feb 2026 | $29.5M | $16.4M | $13.0M |
| Jan 2026 | $30.3M | $80.7M | −$50.4M |
| Dec 2025 | $69.4M | $29.3M | $40.1M |
| Nov 2025 | $27.7M | $32.4M | −$4.6M |
| Oct 2025 | $25.8M | $26.9M | −$1.1M |
| Sep 2025 | $16.3M | $18.9M | −$2.6M |
| Aug 2025 | $93.0M | $19.3M | $73.6M |
BIVIX Assets Under Management
Net assets of Invenomic Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $854.85M |
| 2026-04-30 | $970.08M |
| 2026-01-31 | $988.36M |
| 2025-10-31 | $939.09M |
| 2025-07-31 | $914.94M |
| 2025-04-30 | $1.07B |
| 2025-01-31 | $1.10B |
| 2024-10-31 | $984.77M |
| 2024-07-31 | $1.22B |
| 2024-04-30 | $1.36B |
| 2024-01-31 | $1.43B |
| 2023-10-31 | $1.54B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.