Average Annual Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 09/08/2015
Fund without Sales Charge (%) (NAV) 3.62 4.11 4.66
Fund with Sales Charge (%) (POP) -2.10 2.17 3.22
Quarter EndAs of 09/30/2019 1 Yr 3 Yr 5 Yr 10 Yr Since Inception Inception 09/08/2015
Fund without Sales Charge (%) (NAV) 3.62 4.11 4.66
Fund with Sales Charge (%) (POP) -2.10 2.17 3.22
HFRX Fixed Income - Credit Index (%) 0.43 2.28 0.35 2.79 1.37
ICE BofAML US 3-Month Treasury Bill Index (%) 2.39 1.54 0.98 0.54 1.21

After-Tax Average Annual Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.10 2.53
Fund without Sales Charge (%) (NAV) After Shares Sold 2.21 2.46
Fund with Sales Charge (%) (POP) Before Shares Sold -3.54 0.62
Fund with Sales Charge (%) (POP) After Shares Sold -1.18 0.98
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 2.10 2.53
Fund without Sales Charge (%) (NAV) After Shares Sold 2.21 2.46
Fund with Sales Charge (%) (POP) Before Shares Sold -3.54 0.62
Fund with Sales Charge (%) (POP) After Shares Sold -1.18 0.98

Calendar Year Returns

2018 2017 2016
Fund without Sales Charge (%) (NAV) 1.22 4.84 8.31
Fund with Sales Charge (%) (POP) -4.38 -1.21 2.11
HFRX Fixed Income - Credit Index (%) -2.55 3.87 4.97
ICE BofAML US 3-Month Treasury Bill Index (%) 1.87 0.86 0.33

Cumulative Total Returns [further-information] As of 09/30/2019

Month EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/08/2015
Fund without Sales Charge (%) (NAV) 0.67 4.34 3.62 12.84 20.34
Fund with Sales Charge (%) (POP) -4.86 -1.40 -2.10 6.65 13.74
Quarter EndAs of 09/30/2019 3 Month YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/08/2015
Fund without Sales Charge (%) (NAV) 0.67 4.34 3.62 12.84 20.34
Fund with Sales Charge (%) (POP) -4.86 -1.40 -2.10 6.65 13.74
HFRX Fixed Income - Credit Index (%) 0.70 3.58 0.43 6.99 1.77 31.65 5.67
ICE BofAML US 3-Month Treasury Bill Index (%) 0.56 1.81 2.39 4.70 5.01 5.52 4.99

MODERN PORTFOLIO THEORY (MPT) STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Standard Deviation (Fund) 1.27
Standard Deviation (Bloomberg Barclays Global Aggregate Index) 4.28 4.45 4.81
Alpha 2.36
Beta -0.01
Sharpe Ratio 1.88
R-Squared 0.00

ADDITIONAL RISK STATISTICSAs of 10/31/2019 (updated monthly)

3 YR 5 YR 10 YR
Beta Bull 0.08
Beta Bear 0.00
Bull Bear Capture Ratio -0.59
% of Positive Months 83.33
Maximum Drawdown
Reporting Period
0.69 (08/18 - 11/18)

VALUE AT RISKAs of 10/31/2019 (updated monthly)


Value at Risk (Fund) -1.45%

Performance Contribution By Strategy(%) [further-information] As of 10/31/2019 (updated monthly)

Ending Weight (% of Invested Capital) YTD 1 Month 3 Months 1 Year
Structured Credit 41.59 2.45 0.14 0.14 0.14
Credit Long Short 39.95 2.98 -0.10 -0.10 -0.10
Emerging Market Fixed Income 18.46 0.68 0.20 0.20 0.20

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

Management Fee 1.90%
Dividend Expense and Borrowing Fees for Securities Sold Short 0.62%
Additional Expenses 0.78%
Gross Expense Ratio 3.30%
Net Expense Ratio [further-information] 2.84%
Max Initial Sales Charge 5.50%
CDSC 0.00%

Volatility Measures [further-information] As of 10/31/2019 Updated Monthly, based on a 1-year period

Beta -0.01
Alpha 2.36
Sharpe Ratio 1.88
R-Squared 0.00
Standard Deviation 1.27

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