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) 2.82 3.20 3.70
Fund with Sales Charge (%) (POP) 1.82 3.20 3.70
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) 2.82 3.20 3.70
Fund with Sales Charge (%) (POP) 1.82 3.20 3.70
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

Calendar Year Returns

2018 2017 2016
Fund without Sales Charge (%) (NAV) 0.30 3.91 7.15
Fund with Sales Charge (%) (POP) -0.67 2.91 6.15
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 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/08/2015
Fund without Sales Charge (%) (NAV) 3.70 2.82 9.90 15.88
Fund with Sales Charge (%) (POP) 2.70 1.82 9.90 15.88
Quarter EndAs of 09/30/2019 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/08/2015
Fund without Sales Charge (%) (NAV) 3.70 2.82 9.90 15.88
Fund with Sales Charge (%) (POP) 2.70 1.82 9.90 15.88
HFRX Fixed Income - Credit Index (%) 3.58 0.43 6.99 1.77 31.65 5.67
ICE BofAML US 3-Month Treasury Bill Index (%) 1.81 2.39 4.70 5.01 5.52 4.99

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 1.54 1.87
Fund without Sales Charge (%) (NAV) After Shares Sold 1.74 1.88
Fund with Sales Charge (%) (POP) Before Shares Sold 0.55 1.87
Fund with Sales Charge (%) (POP) After Shares Sold 1.16 1.88
Quarter EndAs of 09/30/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 1.54 1.87
Fund without Sales Charge (%) (NAV) After Shares Sold 1.74 1.88
Fund with Sales Charge (%) (POP) Before Shares Sold 0.55 1.87
Fund with Sales Charge (%) (POP) After Shares Sold 1.16 1.88

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 1.53%
Gross Expense Ratio 4.05%
Net Expense Ratio [further-information] 3.59%
Max Initial Sales Charge 0.00%
CDSC 1.00%

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

Beta -0.01
Alpha 1.50
Sharpe Ratio 1.20
R-Squared 0.00
Standard Deviation 1.26

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