FSMMX Performance — FS Multi-Strategy Alternatives Fund, Class A
Data updated: 2026-08-28
FSMMX returned −24.24% year to date and −42.63% over one year to Jun 2026. Over one year the fund trailed its Long-Term Securitized Bond category average: $100 grew to $57, against $103 for the category. Volatility over the past 12 months was 2.69% a year. In the 12 months to Jun 2026 the fund lost a net $341.7M, and assets reached $1.47B.
FSMMX Growth of $100
What $100 invested in FS Multi-Strategy Alternatives Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Term Securitized Bond category average over the same months.
| Period | FSMMX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $57 | $103 |
| 3 years (Jul 2023 – Jun 2026) | $18 | $113 |
| Since data start (Apr 2022 – Jun 2026) | $8 | $107 |
FSMMX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −24.24% |
| 1 year | −42.63% |
3- and 5-year figures withheld: returns differ from sibling classes.
FSMMX Annual Returns
Calendar-year total returns of FS Multi-Strategy Alternatives Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | −24.24% |
| 2025 | −43.78% |
| 2024 | −43.63% |
| 2023 | −43.19% |
| 2022 (Apr–Dec) | −39.24% |
FSMMX 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 | −5.4% | −4.8% | −3.9% | −5.8% | −3.9% | −3.2% | — | — | — | — | — | — |
| 2025 | −5.6% | −4.5% | −4.5% | −4.4% | −4.6% | −5.6% | −5.5% | −3.8% | −4.2% | −4.9% | −4.6% | −4.3% |
| 2024 | −4.2% | −4.2% | −4.5% | −5.5% | −4.3% | −4.7% | −4.6% | −6.5% | −3.6% | −4.6% | −3.8% | −5.6% |
| 2023 | −4.7% | −4.9% | −3.8% | −4.4% | −5.4% | −4.6% | −4.7% | −4.8% | −4.3% | −4.9% | −4.4% | −4.3% |
| 2022 | — | — | — | −6.6% | −5.3% | −5.4% | −6.9% | −6.5% | −5.2% | −4.8% | −3.8% | −4.0% |
FSMMX Risk
Risk measures from monthly returns over Jul 2025 – Jun 2026.
- 1-year volatility (annualised): 2.69%
- Best month: −3.23% (Jun 2026)
- Worst month: −5.77% (Apr 2026)
FSMMX Fund Flows
Monthly money in and out of FS Multi-Strategy Alternatives Fund, from SEC Form N-PORT.
- 12-month net flow: −$341.7M
- 12-month gross sales (incl. reinvestments): $445.5M
- Sales ÷ redemptions: 0.57×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $31.0M | $61.7M | −$30.7M |
| May 2026 | $25.6M | $36.6M | −$11.1M |
| Apr 2026 | $25.6M | $42.9M | −$17.3M |
| Mar 2026 | $30.1M | $95.0M | −$64.9M |
| Feb 2026 | $39.9M | $94.6M | −$54.7M |
| Jan 2026 | $29.6M | $62.1M | −$32.5M |
| Dec 2025 | $37.1M | $82.4M | −$45.4M |
| Nov 2025 | $34.4M | $47.4M | −$13.0M |
| Oct 2025 | $106.6M | $90.4M | $16.2M |
| Sep 2025 | $27.6M | $49.6M | −$22.0M |
| Aug 2025 | $26.9M | $80.6M | −$53.7M |
| Jul 2025 | $31.2M | $43.8M | −$12.6M |
FSMMX Assets Under Management
Net assets of FS Multi-Strategy Alternatives Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $1.47B |
| 2026-03-31 | $1.49B |
| 2025-12-31 | $1.63B |
| 2025-09-30 | $1.71B |
| 2025-06-30 | $1.77B |
| 2025-03-31 | $1.90B |
| 2024-12-31 | $2.00B |
| 2024-09-30 | $1.95B |
| 2024-06-30 | $1.84B |
| 2024-03-31 | $1.63B |
| 2023-12-31 | $1.48B |
| 2023-09-30 | $1.19B |
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.