Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/11/2013
Fund without Sales Charge (%) (NAV) -0.94 2.04 2.10 3.26
Fund with Sales Charge (%) (POP) -0.94 2.04 2.10 3.26
HFRX Global Hedge Fund Index (%) 3.09 1.18 0.71 1.12 0.91
ICE BofAML US 3-Month Treasury Bill Index (%) 1.63 1.77 1.19 0.64 0.90
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/11/2013
Fund without Sales Charge (%) (NAV) -0.94 2.04 2.10 3.26
Fund with Sales Charge (%) (POP) -0.94 2.04 2.10 3.26
HFRX Global Hedge Fund Index (%) 3.09 1.18 0.71 1.12 0.91
ICE BofAML US 3-Month Treasury Bill Index (%) 1.63 1.77 1.19 0.64 0.90

After-Tax Average Annual Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -1.25 1.54 1.59
Fund without Sales Charge (%) (NAV) After Shares Sold -0.47 1.45 1.46
Fund with Sales Charge (%) (POP) Before Shares Sold -1.25 1.54 1.59
Fund with Sales Charge (%) (POP) After Shares Sold -0.47 1.45 1.46
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -1.25 1.54 1.59
Fund without Sales Charge (%) (NAV) After Shares Sold -0.47 1.45 1.46
Fund with Sales Charge (%) (POP) Before Shares Sold -1.25 1.54 1.59
Fund with Sales Charge (%) (POP) After Shares Sold -0.47 1.45 1.46

Calendar Year Returns

2019 2018 2017 2016 2015 2014
Fund without Sales Charge (%) (NAV) 7.49 -2.01 6.83 2.10 0.24 5.25
Fund with Sales Charge (%) (POP) 7.49 -2.01 6.83 2.10 0.24 5.25
HFRX Global Hedge Fund Index (%) 8.62 -6.72 5.99 2.50 -3.64 -0.58
ICE BofAML US 3-Month Treasury Bill Index (%) 2.28 1.87 0.86 0.33 0.05 0.04

Cumulative Total Returns [further-information] As of 06/30/2020

Month EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/11/2013
Fund without Sales Charge (%) (NAV) 5.39 -1.82 -0.94 6.25 10.93 24.02
Fund with Sales Charge (%) (POP) 5.39 -1.82 -0.94 6.25 10.93 24.02
HFRX Global Hedge Fund Index (%) 6.19 -1.09 3.09 3.58 3.61 11.81 6.27
ICE BofAML US 3-Month Treasury Bill Index (%) 0.02 0.60 1.63 5.40 6.11 6.54 6.21
Quarter EndAs of 06/30/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/11/2013
Fund without Sales Charge (%) (NAV) 5.39 -1.82 -0.94 6.25 10.93 24.02
Fund with Sales Charge (%) (POP) 5.39 -1.82 -0.94 6.25 10.93 24.02
HFRX Global Hedge Fund Index (%) 6.19 -1.09 3.09 3.58 3.61 11.81 6.27
ICE BofAML US 3-Month Treasury Bill Index (%) 0.02 0.60 1.63 5.40 6.11 6.54 6.21

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 5.17 4.62
Standard Deviation (S&P 500 Index) 16.71 14.63 13.36
Alpha -2.29 -1.80
Beta 0.28 0.28
Sharpe Ratio 0.08 0.21
R-Squared 0.83 0.80

ADDITIONAL RISK STATISTICSAs of 06/30/2020 (updated monthly)

3 YR 5 YR 10 YR
Correlation Coefficient 0.91 0.89
Beta Bull 0.24 0.20
Beta Bear 0.39 0.34

VALUE AT RISKAs of 05/31/2020 (updated monthly)


Value at Risk (Fund) -2.03%

Performance Contribution By Strategy(%) [further-information] As of 05/31/2020 (updated monthly)

Ending Weight (% of Invested Capital) YTD 1 Month 3 Months 1 Year
Long Short Equity 31.59 -0.07 1.66 1.66 1.66
Relative Value 27.12 -0.56 0.58 0.58 0.58
Global Macro 23.88 -1.20 0.25 0.25 0.25
Event Driven 17.42 -0.33 0.13 0.13 0.13

SALES CHARGE, EXPENSES & FEES As of 10/01/2019 (updated annually)

Management Fee 1.90%
Dividend Expense and Borrowing Fees for Securities Sold Short 0.36%
Additional Expenses 0.21%
Gross Expense Ratio 2.47%
Net Expense Ratio [further-information] 2.26%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 06/30/2020 Updated Monthly, based on a 3-year period

Beta 0.28
Alpha -2.29
Sharpe Ratio 0.08
Correlation 0.91
R-Squared 0.83
Standard Deviation 5.17

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 BofAML US 3-Month Treasury Bill Index