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 10/11/2013
Fund without Sales Charge (%) (NAV) 1.40 2.19 1.46 2.87
Fund with Sales Charge (%) (POP) 1.40 2.19 1.46 2.87
HFRX Global Hedge Fund Index (%) 4.60 1.50 0.63 0.98 0.97
ICE BofAML US 3-Month Treasury Bill Index (%) 2.18 1.73 1.13 0.61 0.90
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 10/11/2013
Fund without Sales Charge (%) (NAV) 6.82 3.39 2.17 3.17
Fund with Sales Charge (%) (POP) 6.82 3.39 2.17 3.17
HFRX Global Hedge Fund Index (%) 8.62 2.41 1.19 1.11 1.16
ICE BofAML US 3-Month Treasury Bill Index (%) 2.28 1.67 1.07 0.58 0.88

Calendar Year Returns

2019 2018 2017 2016 2015 2014
Fund without Sales Charge (%) (NAV) 6.82 -2.53 6.16 1.52 -0.76 4.63
Fund with Sales Charge (%) (POP) 6.82 -2.53 6.16 1.52 -0.76 4.63
HFRX Global Hedge Fund Index (%) 8.62 -6.72 5.99 2.50 -3.64 -0.58
ICE BofAML 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 12/31/2019

Month EndAs of 02/29/2020 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/11/2013
Fund without Sales Charge (%) (NAV) -1.30 1.40 6.72 7.51 19.83
Fund with Sales Charge (%) (POP) -1.30 1.40 6.72 7.51 19.83
HFRX Global Hedge Fund Index (%) -1.03 4.60 4.58 3.20 10.26 6.33
ICE BofAML US 3-Month Treasury Bill Index (%) 0.28 2.18 5.30 5.78 6.25 5.88
Quarter EndAs of 12/31/2019 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 10/11/2013
Fund without Sales Charge (%) (NAV) 6.82 6.82 10.53 11.35 21.41
Fund with Sales Charge (%) (POP) 6.82 6.82 10.53 11.35 21.41
HFRX Global Hedge Fund Index (%) 8.62 8.62 7.39 6.07 11.68 7.44
ICE BofAML US 3-Month Treasury Bill Index (%) 2.28 2.28 5.09 5.49 5.97 5.58

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 1.29 1.84 1.20
Fund without Sales Charge (%) (NAV) After Shares Sold 0.86 1.61 1.07
Fund with Sales Charge (%) (POP) Before Shares Sold 1.29 1.84 1.20
Fund with Sales Charge (%) (POP) After Shares Sold 0.86 1.61 1.07
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 6.71 3.04 1.91
Fund without Sales Charge (%) (NAV) After Shares Sold 4.07 2.54 1.62
Fund with Sales Charge (%) (POP) Before Shares Sold 6.71 3.04 1.91
Fund with Sales Charge (%) (POP) After Shares Sold 4.07 2.54 1.62

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 0.78%
Gross Expense Ratio 3.04%
Net Expense Ratio [further-information] 2.84%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 02/29/2020 Updated Monthly, based on a 3-year period

Beta 0.24
Alpha -1.50
Sharpe Ratio 0.15
Correlation 0.91
R-Squared 0.82
Standard Deviation 3.41

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 BofAML US 3-Month Treasury Bill Index