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Trending ETFs

Name

As of 03/27/2024

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

$10.57

$23.7 M

2.53%

$0.27

2.34%

Vitals

YTD Return

4.2%

1 yr return

10.7%

3 Yr Avg Return

-10.7%

5 Yr Avg Return

4.2%

Net Assets

$23.7 M

Holdings in Top 10

100.0%

52 WEEK LOW AND HIGH

$10.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.34%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 129.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$2,500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$10.57

$23.7 M

2.53%

$0.27

2.34%

ATVAX - Profile

Distributions

  • YTD Total Return 4.2%
  • 3 Yr Annualized Total Return -10.7%
  • 5 Yr Annualized Total Return 4.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.31%
DIVIDENDS
  • Dividend Yield 2.5%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Athena Behavioral Tactical Fund
  • Fund Family Name
    Athena Fund
  • Inception Date
    May 15, 2015
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    C. Thomas Howard

Fund Description

To achieve its investment objective, the Fund seeks investment exposure to domestic, foreign and emerging market equity markets. To do so, the Fund invests primarily in the following security and derivative types that either themselves invest in or provide investment exposure to domestic, foreign and emerging market equities:

· exchange traded funds (ETFs)
· exchange traded notes (ETNs)
· other mutual funds
· groups of equity securities related by index or markets (such as stock baskets and other index-or market-based groups of related equity securities)
· total return swaps on broad-based equity indices and options on equities or equity indices

The Fund is designed to invest in global markets which the portfolio managers believe have the most attractive expected returns on an unconstrained basis. The Advisor’s portfolio managers use patented research related to behavioral finance to determine what they believe are the most attractive equity markets, levels of exposure and capitalization ranges in which to invest. If no equity markets are deemed attractive, the Fund may invest in cash equivalents until the portfolio managers believe more attractive opportunities are available. Unlike tactical strategies that may be used by other funds, the Advisor’s tactical strategy does not seek to avoid market downturns but instead focuses on what market the Advisor believes to be the most attractive investment opportunity.

Depending on the portfolio managers’ determinations regarding the attractiveness of equity markets, the Fund will invest all of its assets in:

· securities, swaps or options providing exposure to U.S. large cap equities;
· securities, swaps or options providing exposure to U.S. small cap equities;
· securities, swaps or options providing exposure to international equities; or
· cash and cash equivalents

If the portfolio managers believe that the potential return in a particular equity market segment is high enough, the Fund will use leveraged ETFs, swaps, or options in order to provide additional investment exposure to that segment.

The strategy relies on what the portfolio managers believe to be unique market behavioral indicators that measure macro-level investor preferences for specific investment strategies and return factors. These market indicators are used to estimate expected returns across global equity markets and capitalization levels. These expected returns are used to determine what are believed to be the most attractive equity markets, levels of exposure and capitalization ranges. The portfolio managers then select specific investments they believe exhibit attractive characteristics to expose the portfolio to targeted domestic and foreign equity markets or segments of markets, including high correlation with the targeted market, level of exposure, liquidity, simplicity of implementation, and expense. If the expected return is high enough, the Fund can take opportunistic positions up to two times market exposure. The Fund may invest in options positions when the portfolio managers determines that options provide a more efficient way to increase or reduce the Fund’s overall market exposure.

The Fund may, for significant periods of time, hold all or a portion of its assets in cash and short-term, highly-liquid investments, such as money market instruments, U.S. government obligations, commercial paper, repurchase agreements, and other cash or cash equivalent positions either due to pending investments or when expected equity returns are very low or negative.

The Advisor may engage in frequent trading of the Fund’s portfolio, resulting in a higher portfolio turnover rate.

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ATVAX - Performance

Return Ranking - Trailing

Period ATVAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.2% -0.9% 17.8% 72.69%
1 Yr 10.7% -2.2% 75.0% 72.12%
3 Yr -10.7%* -22.7% 10.8% 97.78%
5 Yr 4.2%* -11.4% 20.9% 69.38%
10 Yr N/A* -4.6% 9.9% N/A

* Annualized

Return Ranking - Calendar

Period ATVAX Return Category Return Low Category Return High Rank in Category (%)
2023 4.2% -18.9% 60.2% 68.72%
2022 -15.8% -48.5% 0.1% 40.53%
2021 -6.3% -19.0% 48.3% 81.86%
2020 21.2% -16.5% 52.8% 7.44%
2019 27.2% -8.5% 27.3% 0.48%

Total Return Ranking - Trailing

Period ATVAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.2% -0.9% 17.8% 72.69%
1 Yr 10.7% -2.2% 75.0% 72.12%
3 Yr -10.7%* -22.7% 10.8% 97.78%
5 Yr 4.2%* -11.4% 20.9% 69.38%
10 Yr N/A* -4.6% 9.9% N/A

* Annualized

Total Return Ranking - Calendar

Period ATVAX Return Category Return Low Category Return High Rank in Category (%)
2023 7.0% -11.7% 61.8% 66.96%
2022 -15.8% -48.5% 4.6% 70.04%
2021 -6.3% -14.2% 48.3% 94.69%
2020 21.6% -11.7% 77.4% 12.09%
2019 28.0% -3.9% 30.2% 1.90%

NAV & Total Return History


ATVAX - Holdings

Concentration Analysis

ATVAX Category Low Category High ATVAX % Rank
Net Assets 23.7 M 1.67 M 13.2 B 90.83%
Number of Holdings 3 2 1954 97.38%
Net Assets in Top 10 22.4 M 1.26 M 10.4 B 82.53%
Weighting of Top 10 100.00% 0.4% 149.2% 7.86%

Top 10 Holdings

  1. ISHARES RUSSELL 2000 ETF 97.31%
  2. FIRST AM-TR OB-X 2.55%
  3. FID-TRSY PT-I 0.14%

Asset Allocation

Weighting Return Low Return High ATVAX % Rank
Stocks
97.31% 0.00% 137.56% 39.74%
Cash
2.69% -33.22% 99.05% 51.53%
Preferred Stocks
0.00% 0.00% 5.36% 91.27%
Other
0.00% -29.71% 128.17% 81.22%
Convertible Bonds
0.00% 0.00% 8.92% 93.45%
Bonds
0.00% 0.00% 106.59% 92.58%

Stock Sector Breakdown

Weighting Return Low Return High ATVAX % Rank
Financial Services
18.03% 0.00% 98.22% 14.87%
Industrials
15.27% 0.00% 23.85% 10.77%
Healthcare
12.72% 0.00% 38.63% 40.00%
Consumer Cyclical
11.31% 0.00% 25.83% 21.03%
Consumer Defense
10.24% 0.00% 37.51% 24.62%
Technology
9.06% 0.00% 85.77% 78.97%
Basic Materials
7.78% 0.00% 56.73% 14.36%
Communication Services
5.50% 0.00% 21.61% 53.85%
Energy
4.02% 0.00% 60.89% 62.56%
Utilities
3.21% 0.00% 91.12% 43.08%
Real Estate
2.87% 0.00% 99.45% 53.33%

Stock Geographic Breakdown

Weighting Return Low Return High ATVAX % Rank
US
97.31% 0.00% 137.56% 37.12%
Non US
0.00% -1.94% 41.50% 90.39%

ATVAX - Expenses

Operational Fees

ATVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.34% 0.49% 5.81% 21.83%
Management Fee 1.00% 0.00% 1.50% 82.53%
12b-1 Fee 0.25% 0.00% 1.00% 61.59%
Administrative Fee N/A 0.05% 0.70% N/A

Sales Fees

ATVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 2.50% 5.75% 44.74%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

ATVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

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.

ATVAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 129.00% 1.75% 441.00% 59.68%

ATVAX - Distributions

Dividend Yield Analysis

ATVAX Category Low Category High ATVAX % Rank
Dividend Yield 2.53% 0.00% 24.73% 23.14%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

ATVAX Category Low Category High ATVAX % Rank
Net Income Ratio -1.31% -2.01% 13.72% 94.32%

Capital Gain Distribution Analysis

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

Distributions History

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ATVAX - Fund Manager Analysis

Managers

C. Thomas Howard


Start Date

Tenure

Tenure Rank

Aug 29, 2016

5.76

5.8%

Dr. Howard founded AthenaInvest Advisors, LLC in 2005 and currently serves as Chief Executive Officer, Director of Research, and Chief Investment Officer. Dr. Howard’s responsibilities include conducting the basic research underlying the Sub-Advisor’s investment processes; structuring and monitoring investment portfolios; and making all buy and sell decisions. Dr. Howard is a Professor Emeritus at the Reiman School of Finance, Daniels College of Business, University of Denver, where for over 30 years he taught courses and published articles in the areas of investment management and international finance. After receiving a BS in Mechanical Engineering at the University of Idaho, Dr. Howard worked for three years for Proctor Gamble as a production and warehouse manager. Dr. Howard then entered Oregon State University, where he received an MS in Management Science after which he received a Ph.D. in Finance from the University of Washington.

Andrew Howard


Start Date

Tenure

Tenure Rank

Aug 29, 2016

5.76

5.8%

Andrew C. Howard is Vice President of Athena Invest. Mr. Howard joined Athena in October 2006. Mr. Howard designed, developed and implemented the company’s patented stock and mutual fund research database. Mr. Howard is co-portfolio manager and research analyst on all Athena portfolios with his father professor C. Thomas Howard, PhD. Mr. Howard also trades all Athena portfolios across multiple models and platforms. Prior to joining Athena, Mr. Howard was a software development consultant to Fortune 500 firms. Mr. Howard spent the first years of his career as a corporate financial analyst with Sony Online Entertainment, Leica Geosystems, and Storage Tek. Mr. Howard earned his BS in Finance in 1999 from the Daniels College of Business at the University of Denver, where he was a Chancellor’s Scholar.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.83 6.59 13.0