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

Month EndAs of 07/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/11/2013
Fund without Sales Charge (%) (NAV) 0.04 2.14 1.91 3.15
Fund with Sales Charge (%) (POP) -5.45 0.25 0.76 2.30
HFRX Global Hedge Fund Index (%) 3.69 1.32 0.99 1.13 1.10
ICE BofA US 3-Month Treasury Bill Index (%) 1.46 1.74 1.20 0.64 0.89
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/11/2013
Fund without Sales Charge (%) (NAV) -1.27 1.70 1.75 2.92
Fund with Sales Charge (%) (POP) -6.71 -0.20 0.61 2.06
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

Calendar Year Returns

2019 2018 2017 2016 2015 2014
Fund without Sales Charge (%) (NAV) 7.18 -2.36 6.57 1.68 -0.12 4.88
Fund with Sales Charge (%) (POP) 1.27 -7.74 0.41 -4.18 -5.86 -1.12
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 06/30/2020

Month EndAs of 07/31/2020 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/11/2013
Fund without Sales Charge (%) (NAV) -0.26 0.04 6.57 9.92 23.46
Fund with Sales Charge (%) (POP) -5.75 -5.45 0.74 3.85 16.69
HFRX Global Hedge Fund Index (%) 0.25 3.69 4.02 5.04 11.95 7.71
ICE BofA US 3-Month Treasury Bill Index (%) 0.62 1.46 5.33 6.14 6.55 6.23
Quarter EndAs of 06/30/2020 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/11/2013
Fund without Sales Charge (%) (NAV) -2.00 -1.27 5.18 9.08 21.31
Fund with Sales Charge (%) (POP) -7.40 -6.71 -0.60 3.09 14.66
HFRX Global Hedge Fund Index (%) -1.09 3.09 3.58 3.61 11.81 6.27
ICE BofA US 3-Month Treasury Bill Index (%) 0.60 1.63 5.40 6.11 6.54 6.21

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

Month EndAs of 07/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -0.17 1.72 1.50
Fund without Sales Charge (%) (NAV) After Shares Sold 0.08 1.55 1.35
Fund with Sales Charge (%) (POP) Before Shares Sold -5.65 -0.17 0.35
Fund with Sales Charge (%) (POP) After Shares Sold -3.17 0.10 0.46
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -1.48 1.28 1.35
Fund without Sales Charge (%) (NAV) After Shares Sold -0.70 1.21 1.23
Fund with Sales Charge (%) (POP) Before Shares Sold -6.91 -0.61 0.21
Fund with Sales Charge (%) (POP) After Shares Sold -3.92 -0.24 0.36

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 0.53%
Gross Expense Ratio 2.79%
Net Expense Ratio [further-information] 2.59%
Max Initial Sales Charge 5.50%
CDSC 0.00%

Volatility Measures [further-information] As of 07/31/2020 Updated Monthly, based on a 3-year period

Beta 0.28
Alpha -2.51
Sharpe Ratio 0.10
Correlation 0.91
R-Squared 0.83
Standard Deviation 5.23

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