Average Annual Total Returns [further-information] As of 03/31/2020

Month EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/08/2015
Fund without Sales Charge (%) (NAV) -6.00 0.26 2.35
Fund with Sales Charge (%) (POP) -6.00 0.26 2.35
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/08/2015
Fund without Sales Charge (%) (NAV) -6.00 0.26 2.35
Fund with Sales Charge (%) (POP) -6.00 0.26 2.35

After-Tax Average Annual Total Returns [further-information] As of 03/31/2020

Month EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -7.14 -1.14
Fund without Sales Charge (%) (NAV) After Shares Sold -3.49 -0.32
Fund with Sales Charge (%) (POP) Before Shares Sold -7.14 -1.14
Fund with Sales Charge (%) (POP) After Shares Sold -3.49 -0.32
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -7.14 -1.14
Fund without Sales Charge (%) (NAV) After Shares Sold -3.49 -0.32
Fund with Sales Charge (%) (POP) Before Shares Sold -7.14 -1.14
Fund with Sales Charge (%) (POP) After Shares Sold -3.49 -0.32

Calendar Year Returns

2019 2018 2017 2016
Fund without Sales Charge (%) (NAV) 5.49 1.42 4.97 8.33
Fund with Sales Charge (%) (POP) 5.49 1.42 4.97 8.33
HFRX Fixed Income - Credit Index (%) 6.21 -2.55 3.87 4.97
ICE BofAML US 3-Month Treasury Bill Index (%) 2.28 1.87 0.86 0.33

Cumulative Total Returns [further-information] As of 03/31/2020

Month EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/08/2015
Fund without Sales Charge (%) (NAV) -8.96 -8.96 -6.00 0.78 11.17
Fund with Sales Charge (%) (POP) -8.96 -8.96 -6.00 0.78 11.17
Quarter EndAs of 03/31/2020 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/08/2015
Fund without Sales Charge (%) (NAV) -8.96 -8.96 -6.00 0.78 11.17
Fund with Sales Charge (%) (POP) -8.96 -8.96 -6.00 0.78 11.17

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 03/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 6.15
Standard Deviation (Bloomberg Barclays Global Aggregate Index) 3.84 4.55 4.67
Alpha -2.39
Beta 0.63
Sharpe Ratio -0.24
R-Squared 0.16

ADDITIONAL RISK STATISTICSAs of 03/31/2020 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.03
Beta Bear 3.32
Bull Bear Capture Ratio 0.57

VALUE AT RISKAs of 02/29/2020 (updated monthly)


Value at Risk (Fund) -1.18%

Performance Contribution By Strategy(%) [further-information] As of 02/29/2020 (updated monthly)

Ending Weight (% of Invested Capital) YTD 1 Month 3 Months 1 Year
Structured Credit 45.48 0.83 0.15 0.15 0.15
Credit Long Short 37.09 0.75 0.28 0.28 0.28
Emerging Market Fixed Income 17.42 0.19 0.06 0.06 0.06

SALES CHARGE, EXPENSES & FEES As of 03/01/2020 (updated annually)

Management Fee 1.60%
Dividend Expense and Borrowing Fees for Securities Sold Short 0.62%
Additional Expenses 0.60%
Gross Expense Ratio 2.82%
Net Expense Ratio [further-information] 2.23%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 03/31/2020 Updated Monthly, based on a 1-year period

Beta 0.63
Alpha -2.39
Sharpe Ratio -0.24
R-Squared 0.16
Standard Deviation 6.15

Benchmarks

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

  • HFRX Fixed Income - Credit Index
  • ICE BofAML US 3-Month Treasury Bill Index