Average Annual Total Returns [further-information] As of 03/31/2020

Month EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/08/2015
Fund without Sales Charge (%) (NAV) -6.00 0.26 2.35
Fund with Sales Charge (%) (POP) -6.00 0.26 2.35
HFRX Fixed Income - Credit Index (%) -1.85 -0.18 -0.02 1.40 0.31
ICE BofAML US 3-Month Treasury Bill Index (%) 2.25 1.83 1.19 0.64 1.30
Quarter EndAs of 03/31/2020 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/08/2015
Fund without Sales Charge (%) (NAV) -6.00 0.26 2.35
Fund with Sales Charge (%) (POP) -6.00 0.26 2.35
HFRX Fixed Income - Credit Index (%) -1.85 -0.18 -0.02 1.40 0.31
ICE BofAML US 3-Month Treasury Bill Index (%) 2.25 1.83 1.19 0.64 1.30

Calendar Year Returns

2019 2018 2017 2016
Fund without Sales Charge (%) (NAV) 5.49 1.42 4.97 8.33
Fund with Sales Charge (%) (POP) 5.49 1.42 4.97 8.33
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 03/31/2020

Month EndAs of 03/31/2020 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/08/2015
Fund without Sales Charge (%) (NAV) -8.96 -6.00 0.78 11.17
Fund with Sales Charge (%) (POP) -8.96 -6.00 0.78 11.17
HFRX Fixed Income - Credit Index (%) -6.39 -1.85 -0.53 -0.08 14.92 1.43
ICE BofAML US 3-Month Treasury Bill Index (%) 0.57 2.25 5.58 6.09 6.56 6.08
Quarter EndAs of 03/31/2020 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/08/2015
Fund without Sales Charge (%) (NAV) -8.96 -6.00 0.78 11.17
Fund with Sales Charge (%) (POP) -8.96 -6.00 0.78 11.17
HFRX Fixed Income - Credit Index (%) -6.39 -1.85 -0.53 -0.08 14.92 1.43
ICE BofAML US 3-Month Treasury Bill Index (%) 0.57 2.25 5.58 6.09 6.56 6.08

After-Tax Average Annual Total Returns [further-information] As of 03/31/2020

Month EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -7.14 -1.14
Fund without Sales Charge (%) (NAV) After Shares Sold -3.49 -0.32
Fund with Sales Charge (%) (POP) Before Shares Sold -7.14 -1.14
Fund with Sales Charge (%) (POP) After Shares Sold -3.49 -0.32
Quarter EndAs of 03/31/2020 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold -7.14 -1.14
Fund without Sales Charge (%) (NAV) After Shares Sold -3.49 -0.32
Fund with Sales Charge (%) (POP) Before Shares Sold -7.14 -1.14
Fund with Sales Charge (%) (POP) After Shares Sold -3.49 -0.32

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 0.60%
Gross Expense Ratio 2.82%
Net Expense Ratio [further-information] 2.23%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 03/31/2020 Updated Monthly, based on a 1-year period

Beta 0.63
Alpha -2.39
Sharpe Ratio -0.24
R-Squared 0.16
Standard Deviation 6.15

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