Ironwood Investment Management Profile Picture Investment Adviser

Ironwood Investment Management

Ironwood Investment Management

  • EducationBS Finance Miami University - MBA University of Chicago
  • QualificationsChartered Financial Analyst - CFA
  • Founded1997

Event-Driven SMID Cap Value

The Ironwood Event-Driven SMID Cap ValueStrategy seeks to own stocks of companies undergoing significant transitions that offer substantial appreciation potential. It is a long-only, low-turnover strategy that seeks to outperform the S&P 500 with a low correlation to that index over a full market cycle.

Risk score

Risk Score 4

Best 30 days


Worst 30 days


  • 0.9%
    30 day
  • -5.5%
    90 day
  • 0.9%
    365 day
    September 05, 2013
Monthly vs S&P500
Ironwood Investment Management - Event Driven SMID Cap Value Monthly vs S&P500
-5.9% 12 months
  • $20,000 investment min
  • Margin account required
  • 1.25% fee


  • Consumer, Cyclical
  • Financial
  • Industrial
  • Technology
  • Consumer, Non-cyclical

Top 5 securities View all


Portfolio commentary

  1. Forget market gyrations. Stay focused on value

    28 August 2015

    We're looking for undervalued companies in transition.

  2. China’s market meltdown dwarfs Greek drama 10 July 2015
  3. Introducing the Event-Driven SMID Cap Value Portfolio 11 May 2015
  4. How to profit from the merger mania 16 April 2015
  5. Why you should beware of glam stocks 14 March 2015

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Performance detail

  • Manager (net of fees)
  • Russell 2500 Value


Covestor inception September 05, 2013

as of October 08, 2015 Manager (net of fees) Russell 2500 Value S&P 500
Past 30 days 0.9% 3.2% 2.4%
Past 90 days -5.5% -3.5% -2.5%
Past 365 days 0.9% 4.3% 4.4%
Since Covestor inception (Annualized) 6.8% 8.5% 12.1%
2015 (YTD) -1.5% -2.0% -0.6%
2014 2.2% 7.1% 13.7%

Risk metrics

Last 365 days

as of October 08, 2015 Manager (net of fees) Russell 2500 Value S&P 500
Best 30 days 13.2% 10.6% 9.7%
Worst 30 days -9.0% -8.5% -10.0%
Volatility 16.7% 14.8% 15.3%
Sharpe Ratio 0.06 0.29 0.29
Sortino Ratio 0.08 0.41 0.40
Maximum Drawdown -15.9% -13.8% -12.0%
Value-at-risk (95%, 1 week) -3.9% -3.4% -3.5%
vs. Russell 2500 Value vs. S&P 500
Information Ratio - 0.54 - 0.39
Alpha -3.2% -2.8%
Beta 1.05 0.93
R-Squared 0.86 0.72
  • $20,000 investment min
  • Margin account required
  • 1.25% fee

Latest transactions View all

Average trades per month 3.3
Executed Symbol Security Type Price
10/01/15 CROX Crocs Inc Buy $11.24
08/25/15 CFG Citizens Financial Group Inc Buy $24.05
08/25/15 CROX Crocs Inc Buy $13.76
08/12/15 MAT Mattel Inc Buy $23.12
08/12/15 TRCO Tribune Media Co Buy $44.45
08/12/15 SEAS SeaWorld Entertainment Inc Buy $18.63
07/24/15 DRI Darden Restaurants Inc Sell $74.00
07/24/15 ODP Office Depot Inc Sell $7.96

Important Information

  1. Past performance is no guarantee of future results.
  2. Performance of the Portfolio Manager's account is calculated by Covestor on a daily time-weighted basis, including cash, dividends and earnings distributions and broker commissions. Manager returns include trades and positions that fail Covestor's trading rules, as a result, actual client returns will differ. Covestor advisory fees are simulated and applied retro-actively to present the portfolio return "net-of-fees".
  3. Average client returns are calculated by Covestor and are composed of the asset-weighted average returns of all active client investments (some of which may contain investment restrictions) to the underlying portfolio. These daily average returns are then linked together for the timeframe presented. These returns include cash, dividends, earnings distributions, brokerage commissions and Covestor advisory fees.
  4. All graph data is as of the end of day for the referenced period, unless otherwise specified. The investment minimum is the minimum investment required to follow a particular portfolio. The minimum amount is determined by Covestor, based on the characteristics of the underlying portfolio. It should not be considered as specific investment advice for your investment situation.
  5. The performance charts are provided for informational purposes only, and should not be used as the basis for making an investment decision. Variables such as corporate actions or foreign exchange may affect daily performance displays. We rely on mathematical formulas, computer programs, and pricing information from third-party vendors to provide these returns. Neither Covestor nor any of its data or content providers shall be liable for any errors in this information or any actions taken by you in reliance upon this information.
  6. Benchmark returns have been calculated by Covestor using a time-weighted calculation of daily index valuations. Benchmarks presented are total return and therefore inclusive of cash, dividends and earnings distributions but not transaction costs. More
  7. Leverage indicates the level of margin utilized and is calculated by dividing gross exposure by portfolio net liquidation value.
  8. All Portfolio Manager information including personal data, profiles, strategies, monthly investment reports, and historical results outside of Covestor has been provided by the Portfolio Manager. Covestor makes no representation or warranty of its accuracy, completeness or relevance and it does not represent the opinions of Covestor. Transaction history is available upon request. Portfolio classifications are provided by Covestor, and are intended to serve as a general guide.
  9. Not all transactions listed will appear in your account due to Covestor's trading rules and individual client constraints. Eligibility of these securities is monitored periodically, and may change over time. Actual client investment holdings may vary.
  10. Index returns do not reflect any management fees, transaction costs or expenses. Individuals cannot invest directly in an Index.