Average Annual Total Returns [further-information] As of 06/30/2021

Performance data quoted represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or a loss when you sell your shares.
Month EndAs of 06/30/2021 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/11/2013
Fund without Sales Charge (%) (NAV) 11.81 3.78 3.86 3.38
Fund with Sales Charge (%) (POP) 10.81 3.78 3.86 3.38
HFRX Global Hedge Fund Index (%) 12.01 4.22 4.22 1.85 2.28
ICE BofA US 3-Month Treasury Bill Index (%) 0.09 1.34 1.17 0.63 0.80
Quarter EndAs of 06/30/2021 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/11/2013
Fund without Sales Charge (%) (NAV) 11.81 3.78 3.86 3.38
Fund with Sales Charge (%) (POP) 10.81 3.78 3.86 3.38
HFRX Global Hedge Fund Index (%) 12.01 4.22 4.22 1.85 2.28
ICE BofA US 3-Month Treasury Bill Index (%) 0.09 1.34 1.17 0.63 0.80

After-Tax Average Annual Total Returns [further-information] As of 06/30/2021

Month EndAs of 06/30/2021 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 11.59 3.52 3.66
Fund without Sales Charge (%) (NAV) After Shares Sold 7.14 2.88 2.96
Fund with Sales Charge (%) (POP) Before Shares Sold 10.59 3.52 3.66
Fund with Sales Charge (%) (POP) After Shares Sold 6.54 2.88 2.96
Quarter EndAs of 06/30/2021 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 11.59 3.52 3.66
Fund without Sales Charge (%) (NAV) After Shares Sold 7.14 2.88 2.96
Fund with Sales Charge (%) (POP) Before Shares Sold 10.59 3.52 3.66
Fund with Sales Charge (%) (POP) After Shares Sold 6.54 2.88 2.96

Calendar Year Returns

Performance data quoted represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or a loss when you sell your shares.
2020 2019 2018 2017 2016 2015 2014
Fund without Sales Charge (%) (NAV) 6.27 6.36 -3.10 5.72 1.04 -0.84 4.20
Fund with Sales Charge (%) (POP) 5.27 5.36 -4.04 4.72 0.04 -1.82 3.20
HFRX Global Hedge Fund Index (%) 6.81 8.62 -6.72 5.99 2.50 -3.64 -0.58
ICE BofA US 3-Month Treasury Bill Index (%) 0.67 2.28 1.87 0.86 0.33 0.05 0.04

Cumulative Total Returns [further-information] As of 06/30/2021

Performance data quoted represents past performance, which does not guarantee future results. Current performance may differ from figures shown. Investment return and principal value will fluctuate with market conditions, and you may have a gain or a loss when you sell your shares.
Month EndAs of 06/30/2021 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/11/2013
Fund without Sales Charge (%) (NAV) 2.69 2.69 11.81 11.79 20.84 29.25
Fund with Sales Charge (%) (POP) 1.69 1.69 10.81 11.79 20.84 29.25
HFRX Global Hedge Fund Index (%) 2.41 3.73 12.01 13.22 22.98 20.18 19.03
ICE BofA US 3-Month Treasury Bill Index (%) 0.00 0.02 0.09 4.08 6.01 6.47 6.31
Quarter EndAs of 06/30/2021 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/11/2013
Fund without Sales Charge (%) (NAV) 2.69 2.69 11.81 11.79 20.84 29.25
Fund with Sales Charge (%) (POP) 1.69 1.69 10.81 11.79 20.84 29.25
HFRX Global Hedge Fund Index (%) 2.41 3.73 12.01 13.22 22.98 20.18 19.03
ICE BofA US 3-Month Treasury Bill Index (%) 0.00 0.02 0.09 4.08 6.01 6.47 6.31

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2021 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 5.68 4.62
Standard Deviation (S&P 500 Index) 18.26 14.86 13.53
Alpha -2.29 -1.77
Beta 0.28 0.28
Sharpe Ratio 0.45 0.60
R-Squared 0.80 0.79

ADDITIONAL RISK STATISTICSAs of 06/30/2021 (updated monthly)

3 YR 5 YR 10 YR
Correlation Coefficient 0.90 0.89
Beta Bull 0.29 0.26
Beta Bear 0.39 0.37
Upside Capture Ratio 23.67 24.89
Downside Capture Ratio 26.80 28.11
% of Positive Months 63.89 70.00
% of Negative Months 36.11 30.00
Maximum Drawdown
Reporting Period
7.12 (06/19 - 02/20) 7.12 (06/19 - 02/20)

VALUE AT RISKAs of 06/30/2021 (updated monthly)


Value at Risk (Fund) -3.90%

Performance Contribution By Strategy(%) [further-information] As of 06/30/2021 (updated monthly)

Ending Weight (% of Invested Capital) YTD 1 Month 3 Months 1 Year
Long Short Equity 34.92 2.19 1.13 1.13 1.13
Relative Value 34.18 1.10 0.12 0.12 0.12
Global Macro 17.59 0.13 -0.04 -0.04 -0.04
Event Driven 13.32 0.80 -0.02 -0.02 -0.02

SALES CHARGE, EXPENSES & FEES As of 10/01/2020 (updated annually)

Management Fee 1.89%
Dividend Expense and Borrowing Fees for Securities Sold Short 0.20%
Additional Expenses 1.30%
Gross Expense Ratio 3.39%
Net Expense Ratio [further-information] 3.18%
Max Initial Sales Charge 0.00%
CDSC 1.00%

Volatility Measures [further-information] As of 06/30/2021 Updated Monthly, based on a 3-year period

Beta 0.28
Alpha -2.29
Sharpe Ratio 0.45
Correlation 0.90
R-Squared 0.80
Standard Deviation 5.68

Benchmarks

A benchmark is a comparable broad-based index that can be used to evaluate a fund's performance.

  • HFRX Global Hedge Fund Index
  • ICE BofA US 3-Month Treasury Bill Index