Name
As of 03/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.5%
1 yr return
2.5%
3 Yr Avg Return
-4.1%
5 Yr Avg Return
-1.7%
Net Assets
$42.5 M
Holdings in Top 10
51.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.27%
SALES FEES
Front Load 5.75%
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee 1.00%
Min Investment
Standard (Taxable)
$2,000
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/26/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
TINAX - Profile
Distributions
- YTD Total Return 1.5%
- 3 Yr Annualized Total Return -4.1%
- 5 Yr Annualized Total Return -1.7%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 3.65%
- Dividend Yield 0.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameAXS Tactical Income Fund
-
Fund Family NameINVESTMENT MANAGERS SERIES TRUST II
-
Inception DateDec 31, 2018
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJordan Kahn
Fund Description
Under normal market conditions, the Fund seeks to achieve its investment objective by investing in income-oriented exchange traded funds (“ETFs”) that invest in (i) bonds, bank loans, floating rate bonds and debt and municipal debt issued by domestic, foreign and emerging market issuers; (ii) obligations issued or guaranteed by the United States government, its agencies or instrumentalities, including U.S. treasuries (with an average duration of 1-20 years); and (iii) cash and cash equivalents (including money market funds). The ETFs’ investments can include high-yield instruments (“junk bonds”). The Fund may also invest in these types of securities directly. The Fund considers emerging market issues to be those of countries represented in the MSCI Emerging Markets Index.
The Fund’s advisor, AXS Investments LLC (the “Advisor”), uses a proprietary tactical allocation model to invest the Fund’s assets in cash investments when market conditions become unfavorable. The Fund invests directly or indirectly in securities of any maturity, duration or credit quality when the model determines that the market for those securities is stable or trending upwards and either Treasuries or cash and cash equivalents when the model determines that the market for those securities is trending downwards. By tactically allocating its investments among the securities described above, the Fund seeks to reduce its exposure to declines in the market, thereby potentially limiting portfolio volatility in down-trending markets. Duration is a measure used to determine the sensitivity of a security’s price to changes in interest rates. The longer a security’s duration, the more sensitive it will be to changes in interest rates. For example, if a bond has a duration of five years, a 1% rise in rates would result in a 5% decline in share price. If a bond has a duration of ten years, a 1% rise in interest rates would result in a 10% decline in share price. Maturity is the date on which a stock issuer must repay the original principal borrowed from a shareholder. For example, if a security has a maturity of five years, the issuer will pay the investor the face value of the security five years after its purchase.
The Advisor’s model considers macro market data and other market-based inputs and metrics to identify market trends. When making investment decisions for the Fund, the portfolio managers consider both the outputs of the model as well as an assessment of current market conditions, the average credit quality of the portfolio, the average duration of the portfolio and other factors. When the Fund is invested in high yield instruments, the portfolio managers consider the net returns of those high yield instruments relative to the risk they pose.
The Fund may also use options such as covered calls or protective puts on positions to reduce risk.
TINAX - Performance
Return Ranking - Trailing
Period | TINAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.5% | -6.5% | 5.7% | 31.38% |
1 Yr | 2.5% | -9.3% | 24.0% | 92.27% |
3 Yr | -4.1%* | -16.7% | 18.1% | 94.80% |
5 Yr | -1.7%* | -13.0% | 15.2% | 93.81% |
10 Yr | N/A* | -13.4% | 6.7% | N/A |
* Annualized
Return Ranking - Calendar
Period | TINAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -3.0% | -12.0% | 15.7% | 94.60% |
2022 | -10.0% | -31.8% | 18.4% | 31.65% |
2021 | -4.0% | -26.6% | 25.7% | 87.09% |
2020 | 4.0% | -49.2% | 18.7% | 25.44% |
2019 | 1.3% | -35.1% | 15.3% | 85.33% |
Total Return Ranking - Trailing
Period | TINAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.5% | -6.5% | 5.7% | 31.38% |
1 Yr | 2.5% | -9.3% | 24.0% | 92.27% |
3 Yr | -4.1%* | -16.7% | 18.1% | 94.80% |
5 Yr | -1.7%* | -13.0% | 15.2% | 93.81% |
10 Yr | N/A* | -13.4% | 6.7% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | TINAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.2% | -7.0% | 22.2% | 95.99% |
2022 | -10.0% | -31.8% | 21.1% | 58.39% |
2021 | -4.0% | -13.5% | 49.9% | 96.24% |
2020 | 4.0% | -28.6% | 24.1% | 63.78% |
2019 | 1.3% | -4.8% | 19.1% | 97.71% |
NAV & Total Return History
TINAX - Holdings
Concentration Analysis
TINAX | Category Low | Category High | TINAX % Rank | |
---|---|---|---|---|
Net Assets | 42.5 M | 2.32 M | 127 B | 94.42% |
Number of Holdings | 32 | 2 | 10577 | 91.35% |
Net Assets in Top 10 | 17.4 M | -1.57 B | 65.8 B | 89.98% |
Weighting of Top 10 | 51.75% | 0.7% | 170.6% | 20.99% |
Top 10 Holdings
- iShares Preferred and Income Securities ETF - Class USD INC 6.50%
- Fidelity Government Portfolio - Class Institutional 6.49%
- iShares Floating Rate Bond ETF - Class USD 6.03%
- SPDR Blackstone Senior Loan ETF - Class USD INC 5.62%
- iShares iBoxx $ Investment Grade Corporate Bond ETF - Class USD INC 4.94%
- Goldman Sachs Financial Square Government Fund - Class Administration USD INC 4.84%
- ProShares Short 20+ Year Treasury - Class USD INC 4.61%
- WisdomTree Floating Rate Treasury Fund 4.34%
- VanEck Fallen Angel High Yield Bond ETF - Class USD INC 4.28%
- Invesco CEF Income Composite ETF - Class USD INC 4.10%
Asset Allocation
Weighting | Return Low | Return High | TINAX % Rank | |
---|---|---|---|---|
Cash | 12.14% | -94.66% | 258.91% | 15.78% |
Convertible Bonds | 4.32% | 0.00% | 33.50% | 19.16% |
Stocks | 2.15% | -1.60% | 99.88% | 32.32% |
Preferred Stocks | 0.00% | 0.00% | 30.46% | 66.31% |
Other | 0.00% | -72.32% | 100.00% | 74.20% |
Bonds | 0.00% | -150.81% | 203.29% | 93.78% |
Stock Sector Breakdown
Weighting | Return Low | Return High | TINAX % Rank | |
---|---|---|---|---|
Financial Services | 58.98% | 0.00% | 100.00% | 12.92% |
Real Estate | 21.57% | 0.00% | 100.00% | 11.24% |
Energy | 10.37% | 0.00% | 100.00% | 46.35% |
Utilities | 6.30% | 0.00% | 100.00% | 18.54% |
Technology | 0.71% | 0.00% | 28.30% | 30.90% |
Industrials | 0.63% | 0.00% | 100.00% | 44.38% |
Healthcare | 0.59% | 0.00% | 18.60% | 30.06% |
Consumer Cyclical | 0.30% | 0.00% | 89.95% | 43.82% |
Communication Services | 0.26% | 0.00% | 100.00% | 39.61% |
Consumer Defense | 0.18% | 0.00% | 99.97% | 33.43% |
Basic Materials | 0.12% | 0.00% | 100.00% | 37.64% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | TINAX % Rank | |
---|---|---|---|---|
US | 2.15% | -1.47% | 99.88% | 30.96% |
Non US | 0.00% | -0.13% | 17.73% | 52.66% |
TINAX - Expenses
Operational Fees
TINAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.27% | 0.01% | 20.67% | 13.31% |
Management Fee | 1.00% | 0.00% | 2.29% | 83.89% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 34.83% |
Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
TINAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 5.75% | 0.00% | 5.75% | 5.79% |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
TINAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 1.00% | 0.50% | 2.00% | 76.92% |
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.
TINAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 632.00% | 98.82% |
TINAX - Distributions
Dividend Yield Analysis
TINAX | Category Low | Category High | TINAX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.67% | 0.00% | 18.15% | 48.12% |
Dividend Distribution Analysis
TINAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annually | Monthly | Quarterly |
Net Income Ratio Analysis
TINAX | Category Low | Category High | TINAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.65% | -1.55% | 11.51% | 24.50% |
Capital Gain Distribution Analysis
TINAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Feb 28, 2024 | $0.005 | OrdinaryDividend |
Jan 31, 2024 | $0.068 | OrdinaryDividend |
Dec 28, 2023 | $0.063 | OrdinaryDividend |
Nov 29, 2023 | $0.035 | OrdinaryDividend |
Oct 30, 2023 | $0.007 | OrdinaryDividend |
Sep 28, 2023 | $0.045 | OrdinaryDividend |
Aug 30, 2023 | $0.048 | OrdinaryDividend |
Jul 28, 2023 | $0.045 | OrdinaryDividend |
Jun 29, 2023 | $0.046 | OrdinaryDividend |
May 30, 2023 | $0.041 | OrdinaryDividend |
Mar 31, 2023 | $0.037 | OrdinaryDividend |
Feb 28, 2023 | $0.038 | OrdinaryDividend |
Jan 31, 2023 | $0.010 | OrdinaryDividend |
Dec 23, 2022 | $0.047 | OrdinaryDividend |
Nov 30, 2022 | $0.023 | OrdinaryDividend |
Oct 31, 2022 | $0.010 | OrdinaryDividend |
Oct 28, 2022 | $0.010 | OrdinaryDividend |
Sep 30, 2022 | $0.030 | OrdinaryDividend |
Aug 31, 2022 | $0.043 | OrdinaryDividend |
Jul 29, 2022 | $0.018 | OrdinaryDividend |
Jun 30, 2022 | $0.004 | OrdinaryDividend |
May 31, 2022 | $0.006 | OrdinaryDividend |
Apr 29, 2022 | $0.006 | OrdinaryDividend |
Mar 31, 2022 | $0.006 | OrdinaryDividend |
Feb 28, 2022 | $0.006 | OrdinaryDividend |
Jan 31, 2022 | $0.015 | OrdinaryDividend |
Nov 29, 2021 | $0.036 | OrdinaryDividend |
Oct 28, 2021 | $0.036 | OrdinaryDividend |
Sep 29, 2021 | $0.055 | OrdinaryDividend |
Aug 30, 2021 | $0.033 | OrdinaryDividend |
Jul 29, 2021 | $0.024 | OrdinaryDividend |
Jun 29, 2021 | $0.034 | OrdinaryDividend |
May 27, 2021 | $0.031 | OrdinaryDividend |
Apr 29, 2021 | $0.025 | OrdinaryDividend |
Mar 30, 2021 | $0.036 | OrdinaryDividend |
Feb 25, 2021 | $0.023 | OrdinaryDividend |
Jan 28, 2021 | $0.016 | OrdinaryDividend |
Dec 23, 2020 | $0.028 | OrdinaryDividend |
Nov 27, 2020 | $0.029 | OrdinaryDividend |
Oct 29, 2020 | $0.032 | OrdinaryDividend |
Sep 29, 2020 | $0.055 | OrdinaryDividend |
Aug 28, 2020 | $0.049 | OrdinaryDividend |
Jul 30, 2020 | $0.027 | OrdinaryDividend |
Jun 29, 2020 | $0.029 | OrdinaryDividend |
May 28, 2020 | $0.008 | OrdinaryDividend |
Mar 30, 2020 | $0.003 | OrdinaryDividend |
Feb 27, 2020 | $0.015 | OrdinaryDividend |
Jan 30, 2020 | $0.015 | OrdinaryDividend |
Dec 23, 2019 | $0.073 | OrdinaryDividend |
Nov 27, 2019 | $0.026 | OrdinaryDividend |
Oct 30, 2019 | $0.038 | OrdinaryDividend |
Sep 27, 2019 | $0.044 | OrdinaryDividend |
Aug 29, 2019 | $0.019 | OrdinaryDividend |
Jul 30, 2019 | $0.047 | OrdinaryDividend |
Jun 27, 2019 | $0.044 | OrdinaryDividend |
May 30, 2019 | $0.020 | OrdinaryDividend |
Apr 29, 2019 | $0.025 | OrdinaryDividend |
Mar 28, 2019 | $0.037 | OrdinaryDividend |
Feb 28, 2019 | $0.006 | OrdinaryDividend |
TINAX - Fund Manager Analysis
Managers
Jordan Kahn
Start Date
Tenure
Tenure Rank
Dec 31, 2018
3.42
3.4%
Jordan Kahn has been the CIO of Ascendant Capital Management, LLC since 2014. Before founding Ascendant Capital Management, LLC, Mr. Kahn founded KAM Advisors in 2007.In 2015, KAM Advisors was purchased by HCR Wealth Advisers, where Mr. Kahn acts as Chief Investment Officer. In addition, Mr. Kahn was previously a Managing Partner with Beverly Investment Advisors from 2007 to 2010, and before that a Senior Portfolio Manager for Summit Wealth Management (formerly Berger & Associates) from 2001 to 2007. Mr. Kahn received his Masters of Science in Financial Markets and Trading from the Stuart School of Business at the Illinois Institute of Technology. He is also a Chartered Financial Analyst. Mr. Kahn graduated cum laude in Economics with a concentration in Finance from the University of Colorado.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 28.19 | 5.72 | 3.19 |