Markets can be volatile. Your investments don’t have to be.
Class I
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Class M
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Overall Morningstar RatingTM
Overall Morningstar rating 4 stars, 124 funds.
Three-year rating 3 stars, 124 funds. Five-year rating 4 stars, 81 funds.
Ratings reflect risk-adjusted performance.
The Stone Ridge U.S. Hedged Equity Fund can help you reach your investment goals by offering a potentially smoother ride through the ups and downs of the equity market. The Fund seeks to deliver equity exposure with lower volatility than investing in equities directly.
The Stone Ridge U.S. Hedged Equity Fund’s investment objective is to seek capital appreciation. There can be no assurance that the Fund will achieve its objective.
Category Average represents average of returns for funds in the MorningstarTM Options-Based Category.1 Inception to Date represents returns from inception of VRLIX (5/1/2013).
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 855-609-3680.
Results reflect the reinvestment of dividends and other earnings and are net of fees and expenses. Total Annual Fund Operating Expenses before fee waiver and/or expense reimbursement for VRLIX=1.04%. Total Annual Fund Operating Expenses after fee waiver and/or expense reimbursement for VRLIX=0.50%. Through February 28, 2021, Stone Ridge has contractually agreed to pay or otherwise bear operating and other eligible expenses of VRLIX solely to the extent necessary to limit the Total Annual Fund Operating Expenses to 0.50% of average daily net assets.
Category Average represents average of returns for funds in the MorningstarTM Options-Based Category.1 Inception to Date represents returns from inception of VRLMX (5/1/2013).
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 855-609-3680.
Results reflect the reinvestment of dividends and other earnings and are net of fees and expenses. Total Annual Fund Operating Expenses before fee waiver and/or expense reimbursement for VRLMX=1.20%. Total Annual Fund Operating Expenses after fee waiver and/or expense reimbursement for VRLMX=0.65%. Through February 28, 2021, Stone Ridge has contractually agreed to pay or otherwise bear operating and other eligible expenses of VRLMX solely to the extent necessary to limit the Total Annual Fund Operating Expenses to 0.50% of average daily net assets.
Cumulative Returns (5/1/2013-12/31/2020)
Past performance is not indicative of future results. Data as of 12/31/2020. Category return represents average of returns for funds in the Morningstar™ Options-Based Category. Rank for total returns since VRLIX inception (5/1/13-12/31/20): 6/32 vs. Category. Source: Morningstar.
Category Average represents average net expense ratio for the 217 funds in the MorningstarTM Options-Based Category1 as of 12/31/2020.
Can’t afford to sit in cash but don’t want the volatility of the equity market?
Need to reduce equity risk without adding interest rate risk?
Want to participate in equity markets but are concerned about market cycle risk?
Source: Bloomberg. As of 12/31/2020. Annualized Volatility refers to the annualized standard deviation of daily returns. Standard deviation is a measure of how dispersed or how spread out a data series is. The Standard & Poors 500 Index is a capitalization-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. It is not possible to invest directly in an index.
We innovate to prepare for an uncertain future.
Stone Ridge is a financial services firm based in New York with over 150 employees and approximately $10 billion of assets under management.2 We focus on innovative thinking and original products. Our singular purpose is financial security for all.
Nathaniel Conrad joined Stone Ridge in 2016. Prior to Stone Ridge, Mr. Conrad worked at Goldman Sachs, where he began his career, as the senior trader in Interest Rates Electronic Trading. Mr. Conrad received his BSE in Computer Information Science from the University of Pennsylvania’s Engineering school.
Allen Steere joined Stone Ridge in 2015. Prior to joining Stone Ridge, Mr. Steere was a single stock equity derivatives trader at BNP Paribas from 2009 to 2015. He began his career in the airline industry, piloting multiple aircraft types as a Captain at Continental Express and then JetBlue Airways. Mr. Steere received his BS in Psychology from Ohio Wesleyan University.
Li Song joined Stone Ridge in 2018. Prior to that, Mr. Song worked at Goldman Sachs as a senior strategist in Emerging Markets foreign exchange, interest rate, options, and credit products. Mr. Song received his PhD, M.Phil., and M.A. in Statistics from Columbia University and his B.S. in Mathematics at the University of Science and Technology of China.
Daniel Fleder
Daniel Fleder joined Stone Ridge in 2016. Mr. Fleder is the Chair of the Committee and serves as Head of Risk at Stone Ridge. Mr. Fleder was previously Head of Markets and Head of Variance Risk Premium at Stone Ridge. Mr. Fleder received his PhD in Operations Research and MS in Statistics from the University of Pennsylvania (Wharton) and BSE in Engineering from the University of Pennsylvania (Engineering School).
Robert Gutmann
Robert Gutmann is a co-founder of Stone Ridge. Mr. Gutmann has held a variety of leadership roles at Stone Ridge, including Head of Product Development and Execution and his current role as Head of Digital Asset Strategies. Mr. Gutmann received his B.A. in Mathematics and Music from Columbia University.
Ross Stevens
Ross Stevens founded Stone Ridge in 2012 and serves as Chief Executive Officer. Mr. Stevens received his PhD in Finance and Statistics from the University of Chicago (Booth) and his BSE in Finance from the University of Pennsylvania (Wharton).
Yan Zhao
Yan Zhao is a co-founder of Stone Ridge. Ms. Zhao has held a variety of leadership roles at Stone Ridge, including Head of Reinsurance and her current role as Head of Flourish. Ms. Zhao holds an MBA from Harvard Business School and a BA in Economics from Harvard University.
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