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Trending ETFs

Name

As of 03/26/2024

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

$8.90

$42.5 M

0.67%

$0.06

2.27%

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

$8.9
N/A
N/A

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 03/26/2024

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

$8.90

$42.5 M

0.67%

$0.06

2.27%

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%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    AXS Tactical Income Fund
  • Fund Family Name
    INVESTMENT MANAGERS SERIES TRUST II
  • Inception Date
    Dec 31, 2018
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jordan 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.

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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

  1. iShares Preferred and Income Securities ETF - Class USD INC 6.50%
  2. Fidelity Government Portfolio - Class Institutional 6.49%
  3. iShares Floating Rate Bond ETF - Class USD 6.03%
  4. SPDR Blackstone Senior Loan ETF - Class USD INC 5.62%
  5. iShares iBoxx $ Investment Grade Corporate Bond ETF - Class USD INC 4.94%
  6. Goldman Sachs Financial Square Government Fund - Class Administration USD INC 4.84%
  7. ProShares Short 20+ Year Treasury - Class USD INC 4.61%
  8. WisdomTree Floating Rate Treasury Fund 4.34%
  9. VanEck Fallen Angel High Yield Bond ETF - Class USD INC 4.28%
  10. 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

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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