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ACRMX American Indep Glbl Tac Allc C

  • Fund
  • ACRMX
  • Price as of: Sep 20, 2018
  • $11.58
  • + $0.06
  • + 0.52%
  • Category
  • Global Allocation

ACRMX - Profile

Vitals

  • YTD Return -0.5%
  • 3 Yr Annualized Return 5.7%
  • 5 Yr Annualized Return N/A
  • Net Assets $47.8 M
  • Holdings in Top 10 81.5%

52 WEEK LOW AND HIGH

$11.58
$11.33
$11.68

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.23%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 138.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$5,000

IRA

$5,000

Investment Themes

CATEGORY

Global Allocation
  • Fund Type Open End Mutual Fund
  • Investment Style Tactical Allocation

Distributions

  • YTD Total Return -0.5%
  • 3 Yr Annualized Total Return 5.7%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.02%
DIVIDENDS
  • Dividend Yield N/A
  • Dividend Distribution Frequency Semi-Annually

Fund Details

  • Legal Name American Independence Global Tactical Allocation Fund
  • Fund Family Name American Independence
  • Inception Date Sep 20, 2013
  • Shares Outstanding N/A
  • Share Class C
  • Currency USD
  • Domiciled Country United States
  • Manager Charles McNally

Fund Description

At least 80% (and generally as close to 100% as practical) of the fund's net assets, plus borrowings for investment purposes, will be invested in equities, fixed income, and alternative investments in ETFs and ETNs listed on U.S. exchanges, representing both developed and emerging market countries. The fund invests up to 20% of its net assets in fixed income ETFs or ETNs, listed on U.S. exchanges, representing both developed and emerging market countries, with varying maturities and credit qualities including high yield securities (commonly known as junk bonds).

ACRMX - Performance

Return Ranking - Trailing

Period ACRMX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.5% -25.7% 14.9% 75.70% 5
1 Yr 3.5% -35.4% 26.6% 27.25% 2
3 Yr 5.7% * -5.5% 17.2% 44.20% 3
5 Yr N/A * -3.8% 7.4% N/A N/A
10 Yr N/A * -0.9% 11.8% N/A N/A

* Annualized


Return Ranking - Calendar

Period ACRMX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 11.9% -32.0% 20.0% 2.27% 1
2017 3.1% -15.3% 26.2% 63.02% 4
2016 -2.4% -24.6% 210.7% 65.57% 4
2015 0.3% -30.7% 14.2% 6.54% 1
2014 N/A -21.3% 20.1% N/A N/A

Total Return Ranking - Trailing

Period ACRMX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD -0.5% -100.0% 14.9% 75.27% 5
1 Yr 2.5% -35.4% 40.9% 25.54% 2
3 Yr 5.7% * -5.7% 17.2% 37.68% 2
5 Yr N/A * -3.9% 6.6% N/A N/A
10 Yr N/A * 1.3% 11.8% N/A N/A

* Annualized


Total Return Ranking - Calendar

Period ACRMX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 11.9% -32.0% 18.4% 1.59% 1
2017 3.4% -11.9% 26.2% 63.72% 4
2016 -0.9% -9.5% 210.8% 72.64% 4
2015 2.8% -29.2% 35.6% 8.47% 1
2014 N/A -17.9% 35.7% N/A N/A

NAV & Total Return History

ACRMX - Holdings

Filings data as of: Aug 31, 2018

Concentration Analysis

ACRMX Category Low Category High ACRMX % Rank Quintile
Net Assets 47.8 M 246 K 104 B 20.08% 4
Number of Holdings 13 2 3648 19.45% 5
Net Assets in Top 10 38.9 M -58.9 M 19.7 B 17.76% 4
Weighting of Top 10 81.5% 0.0% 950.3% 10.57% 2

Top 10 Holdings

  1. iShares MSCI Japan ETF 5.63%
  2. SPDR® S&P 500 ETF 9.06%
  3. iShares Europe ETF 13.48%
  4. iShares MSCI Pacific ex Japan ETF 0.62%
  5. Global X Scientific Beta US ETF 20.38%
  6. Global X Scientific Beta Japan ETF 2.02%
  7. Global X Scientific Beta Europe ETF 2.48%
  8. iShares Core US Aggregate Bond ETF 20.63%
  9. SPDR® DoubleLine Total Return Tact ETF 5.90%
  10. iShares MSCI Emerging Markets ETF 1.33%

Asset Allocation

Weighting Category Low Category High ACRMX % Rank Quintile
Stocks
55.20% -18.32% 259.25% 13.74% 3
Bonds
26.13% -234.98% 120.80% 17.76% 4
Cash
18.83% -106.19% 118.36% 6.13% 1
Convertible Bonds
0.02% 0.00% 13.02% 9.30% 3
Preferred Stocks
0.00% 0.00% 17.16% 11.42% 5
Other
-0.17% -0.97% 101.91% 22.41% 5

Stock Sector Breakdown

Weighting Category Low Category High ACRMX % Rank Quintile
Financial Services
9.57% -1.55% 38.98% 11.74% 2
Technology
7.28% -3.70% 44.06% 13.70% 3
Industrials
7.01% 0.00% 18.58% 7.39% 2
Consumer Cyclical
6.93% -7.62% 25.91% 8.26% 2
Healthcare
6.22% -5.59% 20.86% 9.13% 2
Consumer Defense
5.09% -1.18% 18.16% 8.48% 2
Energy
3.64% -0.11% 28.00% 11.30% 3
Utilities
3.14% -0.50% 33.09% 3.91% 1
Basic Materials
3.14% -0.11% 19.84% 12.39% 2
Real Estate
1.78% -0.70% 29.94% 15.65% 3
Communication Services
1.41% -0.71% 16.82% 16.09% 3

Stock Geographic Breakdown

Weighting Category Low Category High ACRMX % Rank Quintile
US
29.52% -45.05% 99.60% 10.36% 2
Non US
25.68% -15.36% 159.65% 15.43% 3

Bond Sector Breakdown

Weighting Category Low Category High ACRMX % Rank Quintile
Cash & Equivalents
18.82% -103.93% 141.04% 6.13% 1
Government
10.16% -242.10% 120.80% 17.97% 4
Securitized
9.50% 0.00% 29.27% 3.38% 1
Corporate
6.37% 0.00% 57.61% 17.76% 4
Municipal
0.13% 0.00% 9.55% 4.44% 1
Derivative
0.00% -12.61% 16.06% 4.86% 4

Bond Geographic Breakdown

Weighting Category Low Category High ACRMX % Rank Quintile
US
24.10% -262.85% 668.05% 11.63% 2
Non US
2.03% -716.47% 73.38% 22.41% 5

ACRMX - Expenses

Operational Fees

ACRMX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 2.23% 0.01% 19.72% 13.77% 5
Management Fee 0.75% 0.00% 1.70% 4.68% 4
12b-1 Fee 1.00% 0.00% 1.00% 0.31% 5
Administrative Fee 0.13% 0.00% 0.55% 4.30% 4

Sales Fees

ACRMX Fees (% of AUM) Category Low Category High ACRMX Rank Quintile
Front Load N/A 0.15% 5.75% N/A N/A
Deferred Load 1.00% 0.50% 5.50% 5.66% 4

Trading Fees

ACRMX Fees (% of AUM) Category Low Category High ACRMX Rank Quintile
Max Redemption Fee N/A 0.11% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ACRMX Fees (% of AUM) Category Low Category High ACRMX Rank Quintile
Turnover 138.00% 0.00% 1837.00% 4.91% 5

ACRMX - Distributions

Dividend Yield Analysis

ACRMX Category Low Category High ACRMX % Rank Quintile
Dividend Yield N/A 0.00% 2.18% N/A N/A

Dividend Distribution Analysis

ACRMX Category Low Category High Category Mode
Dividend Distribution Frequency Semi-Annually Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

ACRMX Category Low Category High ACRMX % Rank Quintile
Net Income Ratio 1.02% -1.83% 7.59% 38.14% 4

Capital Gain Distribution Analysis

ACRMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency N/A Annually Daily Annually

ACRMX - Managers

Charles McNally

Manager

Start Date

Dec 15, 2014

Tenure

3.71

Tenure Rank

8.2%

Charles McNally. Mr. McNally joined Manifold Fund Advisors as Chief Portfolio Strategist in early 2013. For thirteen years, he was a founding member and became a portfolio manager and head of manager research for the Fund of Funds and Institutional Advisory Group at Lyster Watson & Company, a pioneer firm in advising hedge fund investors. Prior to that, he headed research and development for a proprietary equity statistical arbitrage strategy at Jefferies Group, following a role as senior trader at a quantitative hedge fund. He started his career in the fixed-income portfolio strategy research group at Goldman Sachs & Company, and later advised the firm’s institutional clients on using fixed-income futures and options for hedging and portfolio applications. He moved to Salomon Brothers to become product manager for their fixed-income futures and options customer business and traded fixed income and foreign exchange at CS First Boston, before moving into investment management. Mr. McNally earned a Sc.B. in Applied Mathematics, magna cum laude, from Brown University, and continued his studies in pure and applied mathematics at Cambridge University (as a Churchill Scholar) and at New York University’s Courant Institute of Mathematical Sciences.


Tenure Analysis

Category Low

0.0

Category High

27.3

Category Average

5.52

Category Mode

4.3