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

Month EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/08/2015
Fund without Sales Charge (%) (NAV) 5.55 3.95 4.74
Fund with Sales Charge (%) (POP) 5.55 3.95 4.74
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
Quarter EndAs of 12/31/2019 1 Yr 3 Yr 5 Yr 10 Yr Since InceptionInception 09/08/2015
Fund without Sales Charge (%) (NAV) 5.55 3.95 4.74
Fund with Sales Charge (%) (POP) 5.55 3.95 4.74
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) 5.55 1.39 4.97 8.21
Fund with Sales Charge (%) (POP) 5.55 1.39 4.97 8.21
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 12/31/2019 YTD 1 Yr 3 Yr 5 Yr 10 Yr Since Inception since 09/08/2015
Fund without Sales Charge (%) (NAV) 5.55 5.55 12.34 22.11
Fund with Sales Charge (%) (POP) 5.55 5.55 12.34 22.11
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
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) 5.55 5.55 12.34 22.11
Fund with Sales Charge (%) (POP) 5.55 5.55 12.34 22.11
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 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.29 2.51
Fund without Sales Charge (%) (NAV) After Shares Sold 3.29 2.44
Fund with Sales Charge (%) (POP) Before Shares Sold 4.29 2.51
Fund with Sales Charge (%) (POP) After Shares Sold 3.29 2.44
Quarter EndAs of 12/31/2019 1 YR 3 YR 5 YR 10 YR
Fund without Sales Charge (%) (NAV) Before Shares Sold 4.29 2.51
Fund without Sales Charge (%) (NAV) After Shares Sold 3.29 2.44
Fund with Sales Charge (%) (POP) Before Shares Sold 4.29 2.51
Fund with Sales Charge (%) (POP) After Shares Sold 3.29 2.44

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 0.53%
Gross Expense Ratio 3.05%
Net Expense Ratio [further-information] 2.59%
Max Initial Sales Charge 0.00%
CDSC

Volatility Measures [further-information] As of 12/31/2019 Updated Monthly, based on a 1-year period

Beta 0.04
Alpha 2.20
Sharpe Ratio 1.87
R-Squared 0.01
Standard Deviation 1.25

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