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Name

As of 11/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

AXS FTSE Venture Capital Return Tracker Fund

LDVAX | Fund

$26.09

$138 M

0.00%

1.97%

Vitals

YTD Return

33.6%

1 yr return

41.6%

3 Yr Avg Return

-3.5%

5 Yr Avg Return

13.5%

Net Assets

$138 M

Holdings in Top 10

39.0%

52 WEEK LOW AND HIGH

$25.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.97%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 100.00%

Redemption Fee 1.00%

Min Investment

Standard (Taxable)

$2,500

IRA

$2,500

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/22/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

AXS FTSE Venture Capital Return Tracker Fund

LDVAX | Fund

$26.09

$138 M

0.00%

1.97%

LDVAX - Profile

Distributions

  • YTD Total Return 33.6%
  • 3 Yr Annualized Total Return -3.5%
  • 5 Yr Annualized Total Return 13.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.02%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    AXS FTSE Venture Capital Return Tracker Fund
  • Fund Family Name
    INVESTMENT MANAGERS SERIES TRUST II
  • Inception Date
    Oct 02, 2014
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Greg Bassuk

Fund Description

The Fund seeks to provide investment results that, before fees and expenses, correspond generally to the price performance of the FTSE Venture Capital Index (the “Underlying Index”). The Underlying Index seeks to replicate the aggregate gross performance of U.S. venture capital-backed companies by exclusively holding publicly listed assets. These publicly listed assets may be companies of any market capitalization; however, it generally focuses on companies with large capitalizations. The Fund does not invest in venture capital funds or start-up companies.

In seeking to track the Underlying Index, the Fund invests in publicly-traded equity securities that are either components of the Underlying Index or are determined by the Fund’s investment advisor to have substantially similar risk and return characteristics, in the aggregate, as the Underlying Index. Under normal circumstances, the Fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in the component publicly listed assets included in the Underlying Index. This policy is not fundamental and may be changed by the Board of Trustees upon 60 days’ written notice to shareholders.

The Fund also invests in total return swaps designed to provide exposure to the characteristics of venture capital-backed companies. Swaps, which are a type of derivative, will create economic leverage in the Fund’s portfolio. Leverage may magnify, sometimes significantly, the Fund’s exposure to any increase or decrease in prices associated with the assets held by the Fund resulting in increased volatility in the value of the Fund’s portfolio The Fund’s investments in swaps are subject to limits on leverage imposed by the Investment Company Act of 1940, as amended (the “1940 Act”) Act and related guidance from the Securities and Exchange Commission (“SEC”). To comply with SEC guidance, the Fund generally will be required to segregate or earmark liquid assets or enter into offsetting positions to cover its current obligation with respect to any swap. The Fund also may invest in other investment companies, including ETFs, to gain exposure to the returns of the Underlying Index.

To the extent the Underlying Index is concentrated in a particular industry, the Fund’s investment exposure will necessarily be concentrated in that industry. Currently, the Underlying Index has significant exposure to industries within the technology sector.

The Fund is a “commodity pool” under the Commodity Exchange Act (“CEA”), and the Advisor is a “commodity pool operator” registered with and regulated by the Commodities Futures Trading Commission (“CFTC”). As a result, additional CFTC-mandated disclosure, reporting and recordkeeping obligations apply with respect to the Fund under CFTC and SEC harmonized regulations.

The Fund’s investment strategy typically results in an annual portfolio turnover rate in excess of 100% of the average value of the Fund’s portfolio.

Read More

LDVAX - Performance

Return Ranking - Trailing

Period LDVAX Return Category Return Low Category Return High Rank in Category (%)
YTD 33.6% 0.0% 54.6% 20.04%
1 Yr 41.6% 4.4% 77.3% 14.53%
3 Yr -3.5%* -23.4% 25.3% 97.14%
5 Yr 13.5%* -13.5% 29.7% 79.15%
10 Yr N/A* -4.8% 20.0% N/A

* Annualized

Return Ranking - Calendar

Period LDVAX Return Category Return Low Category Return High Rank in Category (%)
2023 54.4% -74.1% 72.4% 1.54%
2022 -56.2% -85.9% 4.7% 96.68%
2021 -3.5% -52.4% 60.5% 80.84%
2020 40.1% -34.3% 145.0% 16.88%
2019 49.4% -6.9% 49.4% 0.10%

Total Return Ranking - Trailing

Period LDVAX Return Category Return Low Category Return High Rank in Category (%)
YTD 33.6% 0.0% 54.6% 20.04%
1 Yr 41.6% 4.4% 77.3% 14.53%
3 Yr -3.5%* -23.4% 25.3% 97.14%
5 Yr 13.5%* -13.5% 29.7% 79.15%
10 Yr N/A* -4.8% 20.0% N/A

* Annualized

Total Return Ranking - Calendar

Period LDVAX Return Category Return Low Category Return High Rank in Category (%)
2023 54.4% -4.6% 72.4% 2.63%
2022 -55.9% -61.7% 5.6% 98.16%
2021 19.7% -39.8% 118.1% 62.70%
2020 65.5% 2.8% 149.2% 8.20%
2019 49.4% -5.2% 49.4% 0.10%

NAV & Total Return History

LDVAX - Holdings

Concentration Analysis

LDVAX Category Low Category High LDVAX % Rank
Net Assets 138 M 296 K 287 B 87.39%
Number of Holdings 146 2 3061 15.78%
Net Assets in Top 10 45.6 M 126 K 151 B 89.81%
Weighting of Top 10 39.04% 0.7% 205.0% 85.62%

Top 10 Holdings

  1. Meta Platforms, Inc. - Class A 4.31%
  2. Microsoft Corp. 4.30%
  3. Alphabet, Inc. - Class A 4.22%
  4. Netflix, Inc. 4.20%
  5. Mastercard, Inc. - Class A 3.94%
  6. Visa, Inc. - Class A 3.85%
  7. Salesforce, Inc. 3.81%
  8. Adobe, Inc. 3.62%
  9. Oracle Corp. 3.45%
  10. BNPP Equity Swap UA XS2 Basket / 3.35%

Asset Allocation

Weighting Return Low Return High LDVAX % Rank
Stocks 		93.98% 0.00% 115.30% 96.57%
Other 		5.72% -31.50% 50.35% 1.80%
Cash 		0.58% 0.00% 173.52% 61.59%
Preferred Stocks 		0.00% 0.00% 10.69% 59.33%
Convertible Bonds 		0.00% 0.00% 1.94% 52.57%
Bonds 		0.00% 0.00% 102.71% 54.37%

Stock Sector Breakdown

Weighting Return Low Return High LDVAX % Rank
Technology 		44.92% 0.00% 65.70% 9.85%
Communication Services 		16.98% 0.00% 66.40% 8.22%
Financial Services 		15.83% 0.00% 43.06% 12.65%
Industrials 		7.74% 0.00% 30.65% 26.83%
Healthcare 		7.46% 0.00% 39.76% 91.78%
Consumer Cyclical 		3.40% 0.00% 62.57% 97.65%
Consumer Defense 		2.46% 0.00% 25.50% 67.12%
Basic Materials 		0.80% 0.00% 18.91% 63.60%
Energy 		0.39% 0.00% 41.09% 52.21%
Utilities 		0.01% 0.00% 16.07% 31.17%
Real Estate 		0.00% 0.00% 16.05% 84.37%

Stock Geographic Breakdown

Weighting Return Low Return High LDVAX % Rank
US 		93.98% 0.00% 115.30% 85.30%
Non US 		0.00% 0.00% 75.51% 68.08%

LDVAX - Expenses

Operational Fees

LDVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.97% 0.01% 28.71% 7.33%
Management Fee 1.25% 0.00% 1.50% 99.36%
12b-1 Fee 0.25% 0.00% 1.00% 43.55%
Administrative Fee N/A 0.01% 1.02% N/A

Sales Fees

LDVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 2.25% 8.50% 19.61%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

LDVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 1.00% 2.00% 78.26%

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.

LDVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 100.00% 0.00% 316.74% 89.58%

LDVAX - Distributions

Dividend Yield Analysis

LDVAX Category Low Category High LDVAX % Rank
Dividend Yield 0.00% 0.00% 27.58% 73.65%

Dividend Distribution Analysis

LDVAX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Quarterly Annual

Net Income Ratio Analysis

LDVAX Category Low Category High LDVAX % Rank
Net Income Ratio -1.02% -6.13% 3.48% 88.11%

Capital Gain Distribution Analysis

LDVAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

LDVAX - Fund Manager Analysis

Managers

Greg Bassuk

Start Date

Tenure

Tenure Rank

Nov 20, 2020

1.53

1.5%

Greg Bassuk has been Chief Executive Officer of AXS since October 2019. From 2015 to 2019, Mr. Bassuk was Managing Director and Head of Liquid Alternative Strategies at FS Investments, an asset management firm. In this role, Mr. Bassuk created, launched and managed FS Investments’ liquid alternative investment business. During his tenure at FS Investments, Mr. Bassuk was a member of the Investment Committee and portfolio manager for the firm’s liquid alternative investment funds, while also driving education for financial advisors across U.S. distribution channels. Prior to FS Investments, Mr. Bassuk was Co-Founder and Chief Operating Officer of IndexIQ, an early pioneer in liquid alternative investments, which was acquired by New York Life Investments. Mr. Bassuk holds a BS from Cornell University and a J.D. from Georgetown University Law Center.

Matthew Tuttle

Start Date

Tenure

Tenure Rank

Jan 07, 2022

0.39

0.4%

Matthew Tuttle, portfolio manager, is a Certified Financial Planner® professional. He is the Chief Executive Officer and Chief Investment Officer of Tuttle Tactical Management, LLC. Matthew is a familiar face among the financial media. In addition to speaking at accounting and trade association meetings across the country, he is a frequent guest on Fox Business News, BusinessWeek TV and Channel 12 News, and has been interviewed on both CNBC and Fox News. Matthew has appeared numerous times on CNNfn, notably on the Your Money Show and Dolans Unscripted with Ken and Daria Dolan. He is the author of How Harvard & Yale Beat the Market (an Amazon best seller) and Financial Secrets of my Wealthy Grandparents. In addition to his books, Matthew has contributed timely articles to a variety of financial publications, including the CPA Journal, Pennsylvania CPA Journal, TAXPRO Journal, Accounting Crossing, the Fairfield County Business Journal, the Stamford Senior Flyer, and over 25 other publications nationwide. He also is a frequent contributor to Forbes.com, the Wall Street Journal, CNBC.com, SmartMoney, and Dow Jones Newswires. He has been quoted in Kiplinger's Personal Finance, Money Magazine, USA Today, the Star Ledger, Bankrate.com, the Christian Science Monitor, and the Journal of Financial Planning. In addition, Matthew has been profiled in the New York Times, Stamford Advocate and Greenwich Time. An experienced educator, Matthew teaches personal finance to consumers as an adjunct professor at Norwalk Community Technical College. He instructs through the Continuing Education centers of the Westport, Stamford, Darien, Greenwich, and Katonah districts, and the 92nd Street YMCA. He has also provided continuing education instruction to CPAs at Baruch College, the CPA / LAW Forum and through the CPA Report. Mr. Tuttle received his BA in Economics from Clark University and a MBA in Finance from Boston University.

Parker Binion

Start Date

Tenure

Tenure Rank

Jan 07, 2022

0.39

0.4%

Parker Binion, portfolio manager. Prior to joining AXS in January 2021, Mr. Parker Binion served as Chief Investment Officer at Kerns Capital Management while managing the KCM Macro Trends mutual fund beginning in January of 2016. AXS Investments acquired the fund in 2019, renaming it the AXS Multi-Strategy Alternatives Fund. Mr. Binion continued to manage the fund for Kerns Capital in a sub-advisory role to AXS Investments. In January of 2021, Mr. Binion joined the team at AXS Investments where he currently manages the fund directly. He has a B.A. from Duke University and J.D. with Honors from the University of Texas School of Law where he served on the Law Review.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 54.45 8.24 3.08

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