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Trending ETFs

Name

As of 03/21/2024

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

$9.99

$28.9 M

5.32%

$0.53

3.24%

Vitals

YTD Return

7.7%

1 yr return

9.2%

3 Yr Avg Return

5.3%

5 Yr Avg Return

4.7%

Net Assets

$28.9 M

Holdings in Top 10

57.2%

52 WEEK LOW AND HIGH

$9.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 3.24%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 0.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/21/2024

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

$9.99

$28.9 M

5.32%

$0.53

3.24%

WAVEX - Profile

Distributions

  • YTD Total Return 7.7%
  • 3 Yr Annualized Total Return 5.3%
  • 5 Yr Annualized Total Return 4.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -3.20%
DIVIDENDS
  • Dividend Yield 5.3%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Longboard Managed Futures Strategy Fund
  • Fund Family Name
    Lifegoal ETFs
  • Inception Date
    Mar 22, 2013
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Cole Wilcox

Fund Description

The Fund seeks to achieve its investment objectives using two principal strategies, a Futures Strategy and a Fixed Income Strategy:

Futures Strategy. The Fund pursues its investment objective by employing a trend following strategy (identifying opportunities as prices trend up and down) similar in general concept to the managed futures industry at large. The strategy is systematic and rules based. The Adviser will consider a variety of exchange traded futures contracts and forward contracts. The Fund’s holdings, either direct or held through a wholly-owned and controlled subsidiary, Longboard Fund Limited (the “Subsidiary”), will generally be diversified across the equities, energies, interest rates, grains, meats, soft commodities (such as sugar, coffee, and cocoa), currencies, and metals sectors; and will also be diversified across North America, Asia, Europe, Australia, and potentially Africa and South America. Through its investment in futures contracts and forward contracts, the Adviser seeks to capture long term trends in the global financial markets and commodities. Futures and forward contracts are contractual agreements to buy or sell a particular currency, commodity or financial instrument at a pre-determined price in the future.

To pursue the Fund’s Futures Strategy, the Fund intends to invest up to 25% of its total assets in the Subsidiary. Assets in the Fund’s Subsidiary will be invested in commodity-related derivatives pursuant to the Futures Strategy. The Fund may also invest directly in certain financial-related derivatives with a portion of its assets pursuant to the Futures Strategy. Additionally, the Fund will, at times, purchase options on futures contracts, to cover the potential obligation regarding delivery of assets specified in the contracts. The Fund anticipates that it will generally invest between 5-30% of its assets (whether directly or through the Subsidiary) pursuant to the Futures Strategy.

The Subsidiary is a wholly-owned and controlled subsidiary of the Fund, organized under the laws of the Cayman Islands as an exempted company. Generally, the Subsidiary will invest primarily in commodity futures and swaps on commodity futures but it may also invest in financial futures, option and swap contracts, fixed income securities, pooled investment vehicles, including those that are not registered pursuant to the 1940 Act, and other investments intended to serve as margin or collateral for the Subsidiary’s derivative positions.

Fixed Income Strategy. The Fixed Income strategy is designed to generate absolute returns from interest income with less volatility than equity markets by investing primarily in U.S. Dollar-denominated fixed income securities including: (1) obligations issued or guaranteed by the United States Government, its agencies or instrumentalities, (2) bonds, notes, or similar debt obligations issued by U.S. or foreign corporations, (3) U.S. asset-backed securities (“ABS”) and (4) U.S. structured notes. The Fund restricts fixed income securities to those having a short-term rating of prime (highest short-term debt category) and/or a long-term rating of investment grade (BBB- or higher). The fixed income portion of the Fund’s portfolio will be invested without restriction as to individual security maturity, but the average duration (a measure of interest rate risk similar to maturity) of the fixed income portfolio will not exceed 5 years. The Fund generally invests between 70-95% of its assets pursuant to the Fixed Income Strategy and/or in cash and cash equivalents, although it reserves the right to invest up to 100% of its assets pursuant to the Fixed Income Strategy and/or in cash and cash equivalents.

The Adviser acts as the adviser to both the Fund and the Subsidiary.

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WAVEX - Performance

Return Ranking - Trailing

Period WAVEX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.7% -7.4% 14.6% 30.85%
1 Yr 9.2% -16.1% 36.5% 74.19%
3 Yr 5.3%* -7.9% 13.3% 88.76%
5 Yr 4.7%* -5.3% 10.0% 83.13%
10 Yr 3.1%* -2.4% 4.3% N/A

* Annualized

Return Ranking - Calendar

Period WAVEX Return Category Return Low Category Return High Rank in Category (%)
2023 -6.5% -16.4% 12.9% 66.67%
2022 5.5% -9.3% 17.5% 100.00%
2021 1.6% -25.8% 2.2% 65.12%
2020 -1.3% -5.1% 21.0% 15.79%
2019 -9.3% -20.3% 4.6% 69.01%

Total Return Ranking - Trailing

Period WAVEX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.7% -7.4% 14.6% 30.85%
1 Yr 9.2% -20.3% 36.5% 86.02%
3 Yr 5.3%* -9.0% 11.1% 89.89%
5 Yr 4.7%* -5.7% 8.7% 86.75%
10 Yr 3.1%* -2.4% 4.3% N/A

* Annualized

Total Return Ranking - Calendar

Period WAVEX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.2% -16.4% 12.9% 66.67%
2022 8.3% -9.3% 17.5% 100.00%
2021 5.1% -20.3% 2.5% 69.77%
2020 1.1% -5.1% 21.0% 15.79%
2019 -9.3% -20.3% 6.7% 74.65%

NAV & Total Return History


WAVEX - Holdings

Concentration Analysis

WAVEX Category Low Category High WAVEX % Rank
Net Assets 28.9 M 2.12 M 1.74 B 70.21%
Number of Holdings 70 3 876 71.28%
Net Assets in Top 10 15.4 M -100 M 2.04 B 62.77%
Weighting of Top 10 57.23% 20.3% 94.0% 50.00%

Top 10 Holdings

  1. B 02/29/24 55.17%
  2. LME NICKEL FUTURE Dec23 0.41%
  3. COCOA FUTURE - IC Mar24 0.31%
  4. CURRENCY CONTRACT - PLN 0.29%
  5. CURRENCY CONTRACT - AUD 0.24%
  6. NATURAL GAS FUTR Jan24 0.21%
  7. COFF ROBUSTA 10tn Jan24 0.18%
  8. IBEX 35 INDX FUTR Dec23 0.17%
  9. FTSE/MIB IDX FUT Dec23 0.15%
  10. AUST 10Y BOND FUT Dec23 0.11%

Asset Allocation

Weighting Return Low Return High WAVEX % Rank
Bonds
55.17% -50.36% 717.59% 82.98%
Cash
44.13% -687.11% 117.03% 27.66%
Other
0.70% 0.00% 58.63% 96.81%
Stocks
0.00% -1.78% 72.26% 37.23%
Preferred Stocks
0.00% 0.00% 0.13% 75.53%
Convertible Bonds
0.00% 0.00% 2.27% 77.66%

Bond Sector Breakdown

Weighting Return Low Return High WAVEX % Rank
Derivative
0.70% 0.00% 63.99% 2.13%
Cash & Equivalents
0.00% 1.07% 100.00% 43.62%
Securitized
0.00% 0.00% 64.73% 77.66%
Corporate
0.00% 0.00% 31.20% 77.66%
Municipal
0.00% 0.00% 6.83% 73.40%
Government
0.00% 0.00% 82.10% 95.74%

Bond Geographic Breakdown

Weighting Return Low Return High WAVEX % Rank
US
55.17% -169.44% 233.08% 75.53%
Non US
0.00% -77.11% 655.95% 80.85%

WAVEX - Expenses

Operational Fees

WAVEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.24% 0.75% 12.88% 7.53%
Management Fee 2.99% 0.65% 2.99% 98.94%
12b-1 Fee 0.25% 0.00% 1.00% 54.10%
Administrative Fee N/A 0.09% 0.45% 70.72%

Sales Fees

WAVEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 3.50% 5.75% 50.00%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

WAVEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 98.21%

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.

WAVEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 0.00% 0.00% 198.00% 20.00%

WAVEX - Distributions

Dividend Yield Analysis

WAVEX Category Low Category High WAVEX % Rank
Dividend Yield 5.32% 0.00% 0.00% 73.40%

Dividend Distribution Analysis

WAVEX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Quarterly Annually

Net Income Ratio Analysis

WAVEX Category Low Category High WAVEX % Rank
Net Income Ratio -3.20% -3.14% 1.55% 98.92%

Capital Gain Distribution Analysis

WAVEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

WAVEX - Fund Manager Analysis

Managers

Cole Wilcox


Start Date

Tenure

Tenure Rank

Jun 27, 2012

9.93

9.9%

Cole Wilcox leads the executive management team at Longboard. He has been involved in all development phases of the firm since its founding in 2010. Mr. Wilcox is a recognized leader in the alternative investment industry, with over 21 years of experience operating hedge fund investment strategies. He leads Longboard's Investment Committee and serves as a portfolio manager for all funds. He wrote the foreword to the second edition of 'The Little Book of Trading' and has co-authored several leading research papers on alternative investment strategies. Mr. Wilcox is a graduate of the Owner / President Management Program at Harvard Business School.

Sarah Baldwin


Start Date

Tenure

Tenure Rank

Apr 30, 2018

4.09

4.1%

Sarah Baldwin is a Portfolio Manager and Managing Director of Investments. As a member of our Executive Team, Sarah drives the execution of Longboard's strategic initiatives and is responsible for building and managing a best-in-class trading and research team. Before joining Longboard, Ms. Baldwin spent 12 years at Graham Capital Management, a $17 billion CTA based in Connecticut. As a trader on a global macro trading team, she was focused on global monetary policy, macroeconomics and fundamental analysis. Priote to that role, she worked on the quantitative trading team focused on systematic trend following strategies. She has extensive experience on the trading side and spends a lot of time speaking with clients. Ms. Baldwin graduated from the University of Connecticut with a bachelor's degree in Economics and Political Science.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.16 14.09 5.41 5.06