Average Annual Total Returns [further-information] As of 08/31/2020

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 08/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/11/2013
Fund without Sales Charge (%) (NAV) 1.94 2.86 2.87 3.66
Fund with Sales Charge (%) (POP) 1.94 2.86 2.87 3.66
HFRX Global Hedge Fund Index (%) 4.88 1.74 1.75 1.27 1.31
ICE BofA US 3-Month Treasury Bill Index (%) 1.26 1.72 1.20 0.64 0.88
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 BofA 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 08/31/2020

Month EndAs of 08/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.62 2.36 2.36
Fund without Sales Charge (%) (NAV) After Shares Sold 1.22 2.07 2.05
Fund with Sales Charge (%) (POP) Before Shares Sold 1.62 2.36 2.36
Fund with Sales Charge (%) (POP) After Shares Sold 1.22 2.07 2.05
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

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.
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 BofA 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 08/31/2020

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 08/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/11/2013
Fund without Sales Charge (%) (NAV) 4.00 1.39 1.94 8.84 15.17 28.07
Fund with Sales Charge (%) (POP) 4.00 1.39 1.94 8.84 15.17 28.07
HFRX Global Hedge Fund Index (%) 4.72 1.80 4.88 5.31 9.07 13.48 9.37
ICE BofA US 3-Month Treasury Bill Index (%) 0.04 0.62 1.26 5.24 6.13 6.54 6.24
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 BofA 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 08/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 5.30 4.63
Standard Deviation (S&P 500 Index) 17.26 14.68 13.32
Alpha -2.42 -2.00
Beta 0.28 0.28
Sharpe Ratio 0.24 0.38
R-Squared 0.84 0.80

ADDITIONAL RISK STATISTICSAs of 08/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Correlation Coefficient 0.91 0.89
Beta Bull 0.25 0.20
Beta Bear 0.39 0.34
Upside Capture Ratio 24.55 26.70
Downside Capture Ratio 28.58 33.90
% of Positive Months 69.44 73.33
% of Negative Months 30.56 26.67
Maximum Drawdown
Reporting Period
6.92 (12/19 - 02/20) 6.92 (12/19 - 02/20)

VALUE AT RISKAs of 08/31/2020 (updated monthly)


Value at Risk (Fund) -3.26%

Performance Contribution By Strategy(%) [further-information] As of 08/31/2020 (updated monthly)

Ending Weight (% of Invested Capital) YTD 1 Month 3 Months 1 Year
Relative Value 30.90 1.08 0.43 0.43 0.43
Long Short Equity 30.69 2.62 1.30 1.30 1.30
Global Macro 21.52 -0.57 0.15 0.15 0.15
Event Driven 16.90 -0.12 0.05 0.05 0.05

SALES CHARGE, EXPENSES & FEES As of 06/01/2020 (updated annually)

Management Fee 1.89%
Dividend Expense and Borrowing Fees for Securities Sold Short 0.36%
Additional Expenses 0.21%
Gross Expense Ratio 2.46%
Net Expense Ratio [further-information] 2.26%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 08/31/2020 Updated Monthly, based on a 3-year period

Beta 0.28
Alpha -2.42
Sharpe Ratio 0.24
Correlation 0.91
R-Squared 0.84
Standard Deviation 5.30

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