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) -6.42 0.03 2.19
Fund with Sales Charge (%) (POP) -11.54 -1.84 0.93
HFRX Fixed Income - Credit Index (%) -1.85 -0.18 -0.02 1.40 0.31
ICE BofAML US 3-Month Treasury Bill Index (%) 2.25 1.83 1.19 0.64 1.30
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/08/2015
Fund without Sales Charge (%) (NAV) -6.42 0.03 2.19
Fund with Sales Charge (%) (POP) -11.54 -1.84 0.93
HFRX Fixed Income - Credit Index (%) -1.85 -0.18 -0.02 1.40 0.31
ICE BofAML US 3-Month Treasury Bill Index (%) 2.25 1.83 1.19 0.64 1.30

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 -7.46 -1.29
Fund without Sales Charge (%) (NAV) After Shares Sold -3.74 -0.46
Fund with Sales Charge (%) (POP) Before Shares Sold -12.52 -3.14
Fund with Sales Charge (%) (POP) After Shares Sold -6.77 -1.87
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -7.46 -1.29
Fund without Sales Charge (%) (NAV) After Shares Sold -3.74 -0.46
Fund with Sales Charge (%) (POP) Before Shares Sold -12.52 -3.14
Fund with Sales Charge (%) (POP) After Shares Sold -6.77 -1.87

Calendar Year Returns

2019 2018 2017 2016
Fund without Sales Charge (%) (NAV) 5.33 1.22 4.84 8.31
Fund with Sales Charge (%) (POP) -0.46 -4.38 -1.21 2.11
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) -9.14 -9.14 -6.42 0.09 10.37
Fund with Sales Charge (%) (POP) -14.10 -14.10 -11.54 -5.43 4.32
HFRX Fixed Income - Credit Index (%) -6.39 -6.39 -1.85 -0.53 -0.08 14.92 1.43
ICE BofAML US 3-Month Treasury Bill Index (%) 0.57 0.57 2.25 5.58 6.09 6.56 6.08
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) -9.14 -9.14 -6.42 0.09 10.37
Fund with Sales Charge (%) (POP) -14.10 -14.10 -11.54 -5.43 4.32
HFRX Fixed Income - Credit Index (%) -6.39 -6.39 -1.85 -0.53 -0.08 14.92 1.43
ICE BofAML US 3-Month Treasury Bill Index (%) 0.57 0.57 2.25 5.58 6.09 6.56 6.08

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

3 YR 5 YR 10 YR
Standard Deviation (Fund) 6.25
Standard Deviation (Bloomberg Barclays Global Aggregate Index) 3.84 4.55 4.67
Alpha -2.63
Beta 0.64
Sharpe Ratio -0.27
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 3.37
Bull Bear Capture Ratio 0.51

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 0.78%
Gross Expense Ratio 3.00%
Net Expense Ratio [further-information] 2.54%
Max Initial Sales Charge 5.50%
CDSC 0.00%

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

Beta 0.64
Alpha -2.63
Sharpe Ratio -0.27
R-Squared 0.16
Standard Deviation 6.25

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