Average Annual Total Returns [further-information] As of 12/31/2019

Month EndAs of 02/29/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/08/2015
Fund without Sales Charge (%) (NAV) 4.22 3.00 3.83
Fund with Sales Charge (%) (POP) 3.22 3.00 3.83
HFRX Fixed Income - Credit Index (%) 3.86 2.07 1.36 2.39 1.86
ICE BofAML US 3-Month Treasury Bill Index (%) 2.18 1.73 1.13 0.61 1.26
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/08/2015
Fund without Sales Charge (%) (NAV) 4.56 2.91 3.67
Fund with Sales Charge (%) (POP) 3.56 2.91 3.67
HFRX Fixed Income - Credit Index (%) 6.21 2.44 1.54 2.58 1.88
ICE BofAML US 3-Month Treasury Bill Index (%) 2.28 1.67 1.07 0.58 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 12/31/2019

Month EndAs of 02/29/2020 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/08/2015
Fund without Sales Charge (%) (NAV) 1.27 4.22 9.28 18.32
Fund with Sales Charge (%) (POP) 0.27 3.22 9.28 18.32
HFRX Fixed Income - Credit Index (%) 0.22 3.86 6.33 6.97 26.60 8.60
ICE BofAML US 3-Month Treasury Bill Index (%) 0.28 2.18 5.30 5.78 6.25 5.77
Quarter EndAs of 12/31/2019 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/08/2015
Fund without Sales Charge (%) (NAV) 4.56 4.56 8.97 16.84
Fund with Sales Charge (%) (POP) 3.56 3.56 8.97 16.84
HFRX Fixed Income - Credit Index (%) 6.21 6.21 7.50 7.93 29.04 8.35
ICE BofAML US 3-Month Treasury Bill Index (%) 2.28 2.28 5.09 5.49 5.97 5.48

After-Tax Average Annual Total Returns [further-information] As of 12/31/2019

Month EndAs of 02/29/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.38 1.95
Fund without Sales Charge (%) (NAV) After Shares Sold 2.49 1.87
Fund with Sales Charge (%) (POP) Before Shares Sold 2.38 1.95
Fund with Sales Charge (%) (POP) After Shares Sold 1.90 1.87
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 3.72 1.85
Fund without Sales Charge (%) (NAV) After Shares Sold 2.70 1.80
Fund with Sales Charge (%) (POP) Before Shares Sold 2.72 1.85
Fund with Sales Charge (%) (POP) After Shares Sold 2.11 1.80

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 02/29/2020 Updated Monthly, based on a 1-year period

Beta 0.04
Alpha 1.20
Sharpe Ratio 1.04
R-Squared 0.01
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