Axonic Alternative Income Fund
Name
As of 12/23/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
10.5%
1 yr return
10.6%
3 Yr Avg Return
3.4%
5 Yr Avg Return
1.3%
Net Assets
$256 M
Holdings in Top 10
65.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.54%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 41.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$50,000
IRA
N/A
Fund Classification
Fund Type
Closed-end mutual fund
Name
As of 12/23/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
AAIDX - Profile
Distributions
- YTD Total Return 10.5%
- 3 Yr Annualized Total Return 3.4%
- 5 Yr Annualized Total Return 1.3%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 11.51%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameAxonic Alternative Income Fund
-
Fund Family NameAxonic Funds
-
Inception DateDec 28, 2018
-
Shares Outstanding4040211
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJamshed Engineer
Fund Description
AAIDX - Performance
Return Ranking - Trailing
Period | AAIDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 10.5% | -12.6% | 18.9% | 5.11% |
1 Yr | 10.6% | -13.6% | 19.8% | 5.26% |
3 Yr | 3.4%* | -17.2% | 13.3% | 16.98% |
5 Yr | 1.3%* | -15.2% | 13.2% | 70.18% |
10 Yr | N/A* | -7.1% | 6.9% | N/A |
* Annualized
Return Ranking - Calendar
Period | AAIDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.9% | -12.0% | 8.9% | 76.51% |
2022 | -10.0% | -31.8% | 18.4% | 31.70% |
2021 | -0.7% | -16.2% | 25.7% | 34.10% |
2020 | -12.6% | -31.1% | 18.7% | 98.75% |
2019 | 0.9% | -6.1% | 15.3% | 87.48% |
Total Return Ranking - Trailing
Period | AAIDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 10.5% | -12.6% | 18.9% | 5.11% |
1 Yr | 10.6% | -13.6% | 19.8% | 5.26% |
3 Yr | 3.4%* | -17.2% | 13.3% | 16.98% |
5 Yr | 1.3%* | -15.2% | 13.2% | 70.18% |
10 Yr | N/A* | -7.1% | 6.9% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | AAIDX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.6% | -6.9% | 22.2% | 93.51% |
2022 | -1.6% | -31.8% | 21.1% | 9.35% |
2021 | 10.3% | -13.5% | 49.9% | 4.43% |
2020 | -9.5% | -28.6% | 24.1% | 98.57% |
2019 | 0.9% | -4.8% | 19.1% | 98.65% |
NAV & Total Return History
AAIDX - Holdings
Concentration Analysis
AAIDX | Category Low | Category High | AAIDX % Rank | |
---|---|---|---|---|
Net Assets | 256 M | 2.63 M | 143 B | 68.31% |
Number of Holdings | 76 | 4 | 9638 | 86.43% |
Net Assets in Top 10 | 167 M | -204 M | 89.4 B | 50.08% |
Weighting of Top 10 | 65.34% | 5.8% | 265.8% | 16.82% |
Top 10 Holdings
- First American Government Obligations Fund 13.94%
- GSF 2023-1 Investor LLC 13.73%
- Rivertree Landing 6.38%
- Multifamily Structured Credit Risk 6.04%
- MCR 2024-TWA Mortgage Trust 5.75%
- 4-10 West 108th Owners LLC 5.44%
- FRESB 2024-SB114 Mortgage Trust 4.54%
- FREMF 2018-KF44 Mortgage Trust 3.23%
- THPT 2023-THL Mortgage Trust 3.15%
- FRESB 2022-SB100 Mortgage Trust 3.14%
Asset Allocation
Weighting | Return Low | Return High | AAIDX % Rank | |
---|---|---|---|---|
Bonds | 91.96% | 0.00% | 199.60% | 41.97% |
Cash | 15.08% | -94.66% | 99.97% | 10.14% |
Preferred Stocks | 0.48% | 0.00% | 21.58% | 21.68% |
Stocks | 0.06% | -6.18% | 99.68% | 62.40% |
Convertible Bonds | 0.00% | 0.00% | 33.50% | N/A |
Other | -7.41% | -75.22% | 147.15% | 96.10% |
Stock Sector Breakdown
Weighting | Return Low | Return High | AAIDX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 100.00% | N/A |
Technology | 0.00% | 0.00% | 28.30% | N/A |
Real Estate | 0.00% | 0.00% | 100.00% | N/A |
Industrials | 0.00% | 0.00% | 100.00% | N/A |
Healthcare | 0.00% | 0.00% | 18.60% | N/A |
Financial Services | 0.00% | 0.00% | 100.00% | N/A |
Energy | 0.00% | 0.00% | 100.00% | N/A |
Communication Services | 0.00% | 0.00% | 100.00% | N/A |
Consumer Defense | 0.00% | 0.00% | 99.97% | N/A |
Consumer Cyclical | 0.00% | 0.00% | 89.95% | N/A |
Basic Materials | 0.00% | 0.00% | 100.00% | N/A |
Stock Geographic Breakdown
Weighting | Return Low | Return High | AAIDX % Rank | |
---|---|---|---|---|
US | 0.06% | -6.18% | 99.68% | 59.13% |
Non US | 0.00% | -0.30% | 17.73% | 70.05% |
Bond Sector Breakdown
Weighting | Return Low | Return High | AAIDX % Rank | |
---|---|---|---|---|
Cash & Equivalents | 15.07% | 0.00% | 94.89% | 7.67% |
Derivative | 0.00% | -75.22% | 147.15% | 58.69% |
Securitized | 0.00% | 0.00% | 99.65% | N/A |
Corporate | 0.00% | 0.00% | 96.66% | N/A |
Municipal | 0.00% | 0.00% | 54.26% | N/A |
Government | 0.00% | 0.00% | 99.43% | N/A |
Bond Geographic Breakdown
Weighting | Return Low | Return High | AAIDX % Rank | |
---|---|---|---|---|
US | 91.96% | 0.00% | 199.60% | 28.24% |
Non US | 0.00% | 0.00% | 74.14% | 88.92% |
AAIDX - Expenses
Operational Fees
AAIDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.54% | 0.03% | 34.13% | 11.04% |
Management Fee | 1.25% | 0.00% | 2.29% | 92.26% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
AAIDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.50% | N/A |
Trading Fees
AAIDX 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.
AAIDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 41.00% | 0.00% | 632.00% | 15.66% |
AAIDX - Distributions
Dividend Yield Analysis
AAIDX | Category Low | Category High | AAIDX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 23.30% | 95.83% |
Dividend Distribution Analysis
AAIDX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
AAIDX | Category Low | Category High | AAIDX % Rank | |
---|---|---|---|---|
Net Income Ratio | 11.51% | -1.55% | 11.51% | 0.16% |
Capital Gain Distribution Analysis
AAIDX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Oct 31, 2024 | $0.156 | OrdinaryDividend |
Sep 30, 2024 | $0.151 | OrdinaryDividend |
Aug 30, 2024 | $0.155 | OrdinaryDividend |
Jul 31, 2024 | $0.155 | OrdinaryDividend |
Jun 28, 2024 | $0.149 | OrdinaryDividend |
Jan 02, 2024 | $0.152 | OrdinaryDividend |
Jan 03, 2023 | $0.153 | OrdinaryDividend |
Dec 01, 2022 | $0.150 | OrdinaryDividend |
Nov 01, 2022 | $0.157 | OrdinaryDividend |
Oct 03, 2022 | $0.154 | OrdinaryDividend |
Sep 01, 2022 | $0.161 | OrdinaryDividend |
Aug 01, 2022 | $0.161 | OrdinaryDividend |
Jul 01, 2022 | $0.157 | OrdinaryDividend |
Jun 01, 2022 | $0.164 | OrdinaryDividend |
May 02, 2022 | $0.160 | OrdinaryDividend |
Apr 01, 2022 | $0.167 | OrdinaryDividend |
Mar 01, 2022 | $0.152 | OrdinaryDividend |
Feb 01, 2022 | $0.167 | OrdinaryDividend |
Jan 03, 2022 | $0.169 | OrdinaryDividend |
Dec 16, 2021 | $0.315 | OrdinaryDividend |
Dec 09, 2021 | $0.182 | OrdinaryDividend |
Dec 01, 2021 | $0.166 | OrdinaryDividend |
Nov 01, 2021 | $0.175 | OrdinaryDividend |
Oct 01, 2021 | $0.165 | OrdinaryDividend |
Sep 01, 2021 | $0.173 | OrdinaryDividend |
Aug 02, 2021 | $0.154 | OrdinaryDividend |
Jul 01, 2021 | $0.147 | OrdinaryDividend |
Jun 01, 2021 | $0.151 | OrdinaryDividend |
May 03, 2021 | $0.146 | OrdinaryDividend |
Apr 01, 2021 | $0.152 | OrdinaryDividend |
Feb 26, 2021 | $0.243 | OrdinaryDividend |
Jan 19, 2021 | $0.181 | OrdinaryDividend |
Dec 11, 2020 | $0.218 | OrdinaryDividend |
Oct 16, 2020 | $0.113 | OrdinaryDividend |
Jul 17, 2020 | $0.067 | OrdinaryDividend |
Apr 17, 2020 | $0.208 | OrdinaryDividend |
Jan 17, 2020 | $0.137 | OrdinaryDividend |
AAIDX - Fund Manager Analysis
Managers
Jamshed Engineer
Start Date
Tenure
Tenure Rank
Dec 28, 2018
3.42
3.4%
Mr. Jamshed Engineer serves as Partner & Co-Head of Credit at Axonic Capital. Prior to joining Axonic, Mr. Engineer worked with Mr. DeGiacinto and Mr. Schendel at Tower Research Capital as Vice President of Mortgage Trading. Prior to Tower, he worked in the Fixed Income, Currency and Commodities group at Goldman Sachs & Co. with responsibilities for structuring, valuing and advising on diverse securitization products for both principal and third party transactions. Prior to Goldman, Mr. Engineer was at KPMG where he structured various securitization transactions in the structured products group. Mr. Engineer was at Tata TD Waterhouse and Tata Finance in Mumbai from 1999 to 2002. Mr. Engineer received a B. Comm. in Finance and Accounting from University of Mumbai in 1999 and an MBA in Finance from the University of Southern California in 2004.
Matthew Weinstein
Start Date
Tenure
Tenure Rank
Dec 28, 2018
3.42
3.4%
Mr. Matthew Weinstein serves as Principal, Partner, Portfolio Manager and Co-Head of Credit at Axonic Capital. Weinstein leads our Commercial Real Estate and Commercial Mortgage Backed Securities strategies. Prior to joining Axonic, Mr. Weinstein was a Vice President at Macquarie Capital where he managed a CMBS principal investment strategy. Prior to Macquarie, Mr. Weinstein was an Associate Director in CMBS at Bear Sterns. Mr. Weinstein received his B.S. in Industrial Labor Relations from Cornell University and holds an MBA from New York University Stern School of Business.
Clayton DeGiacinto
Start Date
Tenure
Tenure Rank
Dec 28, 2018
3.42
3.4%
Mr. DeGiacinto is the Founder and Managing Principal of Axonic Capital LLC, an independent investment management firm focused on Structured Credit opportunities in Residential and Commercial Mortgage markets. He serves as the Chief Investment Officer. Prior to founding Axonic Capital in 2010, Mr. DeGiacinto was responsible for building out the mortgage investment platform at Tower Research Capital and was the Senior Portfolio Manager for Split Level LLC, the predecessor fund to the Axonic Credit Opportunities Funds.Mr. DeGiacinto was the Head of Mortgage Trading for Tower Research Capital LLC from December 2008 through December 2010. From 2002 to 2008 Mr. DeGiacinto was Head of the Adjustable Rate Mortgage Desk at Goldman Sachs. From July 2002 through March 2008, he was a Vice President in the Fixed Income, Currency and Commodities group at Goldman Sachs & Co. with responsibility for the hybrid and adjustable rate mortgage trading businesses, in both primary and secondary markets. Mr. DeGiacinto’s duties at Goldman included securitization and retention of levered credit risk and convexity risk backed by adjustable rate and negatively amortizing residential mortgages. He was also responsible for running the RMBS credit book for all prime, alt-A and negatively amortizing structures. Mr. DeGiacinto was recently named as a “Hedge Fund Rising Star” in Institutional Investor magazine in June 2011. He previously served as an Army Ranger and Captain in the US Army 25th Infantry Division from 1995 to 2000. He received a B.S. in Mechanical Engineering from the U.S. Military Academy at West Point and holds an MBA in Finance and Statistics from the Wharton School at University of Pennsylvania. Mr. DeGiacinto resides in New York City with his wife and two children.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 28.19 | 5.71 | 3.19 |