Hedge-fund legend Paul Tudor Jones' main fund is down this year

Tudor’s BVI Global Macro fund lost 1.2 percent year-to-date through June 2 compared to the S&P 500’s 9 percent return in that time period.

Paul Tudor Jones, the legendary hedge-fund manager who called the October 1987 crash, is lagging the stock market's performance this year.

His firm Tudor Investment Corporation's main fund, BVI Global Macro, lost 1.2 percent year-to-date through June 2 compared with the S&P 500's 9 percent return in that time period, according to a source familiar with the returns.

However, Tudor's smaller event-driven fund is faring better. The Tudor Riverbend Crossing Partners fund is up 9.3 percent through the end of May, the source said.

Jones earlier this year reportedly said at a closed-door meeting with Goldman Sachs that he was getting worried about the market's valuation. The hedge-fund manager referred to a chart that measured the market's value relative to the country's economy and said it should be "terrifying" to central bankers, including the Federal Reserve's Janet Yellen.

But the hedge-fund manager did not indicate whether he was changing the fund's positioning to bearish because of this view.

Abernathy MacGregor's Patrick Clifford, a spokesman for Tudor, declined to comment for this story. The fund's returns were reported earlier by Bloomberg News.

— With reporting by CNBC's Leslie Picker .

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