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

Month EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/08/2015
Fund without Sales Charge (%) (NAV) -0.07 1.84 2.99
Fund with Sales Charge (%) (POP) -1.05 1.84 2.99
HFRX Fixed Income - Credit Index (%) 4.98 2.20 1.65 2.38 2.03
ICE BofAML US 3-Month Treasury Bill Index (%) 1.63 1.77 1.19 0.64 1.24
Quarter EndAs of 06/30/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/08/2015
Fund without Sales Charge (%) (NAV) -0.07 1.84 2.99
Fund with Sales Charge (%) (POP) -1.05 1.84 2.99
HFRX Fixed Income - Credit Index (%) 4.98 2.20 1.65 2.38 2.03
ICE BofAML US 3-Month Treasury Bill Index (%) 1.63 1.77 1.19 0.64 1.24

Calendar Year Returns

2019 2018 2017 2016
Fund without Sales Charge (%) (NAV) 4.56 0.30 3.91 7.15
Fund with Sales Charge (%) (POP) 3.56 -0.67 2.91 6.15
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 06/30/2020

Month EndAs of 06/30/2020 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/08/2015
Fund without Sales Charge (%) (NAV) -1.37 -0.07 5.61 15.24
Fund with Sales Charge (%) (POP) -2.35 -1.05 5.61 15.24
HFRX Fixed Income - Credit Index (%) 1.67 4.98 6.75 8.51 26.51 10.17
ICE BofAML US 3-Month Treasury Bill Index (%) 0.60 1.63 5.40 6.11 6.54 6.10
Quarter EndAs of 06/30/2020 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/08/2015
Fund without Sales Charge (%) (NAV) -1.37 -0.07 5.61 15.24
Fund with Sales Charge (%) (POP) -2.35 -1.05 5.61 15.24
HFRX Fixed Income - Credit Index (%) 1.67 4.98 6.75 8.51 26.51 10.17
ICE BofAML US 3-Month Treasury Bill Index (%) 0.60 1.63 5.40 6.11 6.54 6.10

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

Month EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -0.87 0.79
Fund without Sales Charge (%) (NAV) After Shares Sold -0.04 0.99
Fund with Sales Charge (%) (POP) Before Shares Sold -1.85 0.79
Fund with Sales Charge (%) (POP) After Shares Sold -0.62 0.99
Quarter EndAs of 06/30/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -0.87 0.79
Fund without Sales Charge (%) (NAV) After Shares Sold -0.04 0.99
Fund with Sales Charge (%) (POP) Before Shares Sold -1.85 0.79
Fund with Sales Charge (%) (POP) After Shares Sold -0.62 0.99

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 1.53%
Gross Expense Ratio 3.75%
Net Expense Ratio [further-information] 3.29%
Max Initial Sales Charge 0.00%
CDSC 1.00%

Volatility Measures [further-information] As of 06/30/2020 Updated Monthly, based on a 1-year period

Beta 0.76
Alpha -1.20
Sharpe Ratio 0.03
R-Squared 0.18
Standard Deviation 6.88

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