His Janus Henderson fund fell 0.8% on Monday, the most in a year.
Before the market's sell-off, banks had turned investments linked to volatility into a hot item.
Credit Suisse to redeem volatility note; more than a dozen other funds have suspended trading
The value of the XIV exchange-traded note plunged more than 80% in late trading Monday
As assets slide, volatility is rising, with the Cboe index breaking above 50 for the first time since 2015.
Pullback had been expected as economy's strength fed inflation fears.
Stocks took a beating in recent days amid concerns that a healthy economy could trigger higher inflation. Here's how the 50 largest funds, ranked by assets, performed. <b><i>(More: <a href="http://www.investmentnews.com/article/20180206/FREE/180209949/stock-market-sell-off-takeaways-to-share-with-clients" target="_blank">Stock market sell-off: Takeaways to share with clients</a>)</b></i>
The combination of low unemployment and fast economic growth could spell gains.
Overnight rebound in equities evaporates amid concerns about inflation and rising rates
As the Dow Jones Industrial Average tumbled nearly 1,600 points Monday, advisers and their clients find few places to hide.
Equity investors are looking for confirmation that recent declines represent the healthy correction many had expected.
GPB Capital sued a former business partner, alleging he reneged on a transaction
Pricing nontraded shares is often more art than science.
RIA that was sued by asset manager wins case on appeal
Largest digital currency broke below $8,000 for the first time since November; it's down more than 50% from its December peak.
Legislation would allow business development companies to increase debt-to-equity ratio to 2:1, up from 1:1.
'Melt-up' of yields pushes 10-year to 2.74%, its highest level since 2014
The bond market's bubble will be the "critical issue," he says, and links that to the growing federal deficit.
Other managers argue that level on Treasury note signals a bear market in bonds.
WisdomTree investment strategist says equities 'are nowhere near as expensive as bonds.'
