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Trending ETFs

Name

As of 10/13/2023

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

$19.73

$134 M

8.66%

$1.71

2.54%

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$134 M

Holdings in Top 10

64.7%

52 WEEK LOW AND HIGH

$19.7
N/A
N/A

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 10/13/2023

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

$19.73

$134 M

8.66%

$1.71

2.54%

AAIDX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 11.51%
DIVIDENDS
  • Dividend Yield 8.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Axonic Alternative Income Fund
  • Fund Family Name
    Axonic Funds
  • Inception Date
    Dec 28, 2018
  • Shares Outstanding
    4040211
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jamshed Engineer

Fund Description


AAIDX - Performance

Return Ranking - Trailing

Period AAIDX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -6.5% 5.7% 34.85%
1 Yr N/A -9.3% 24.0% 90.91%
3 Yr N/A* -16.7% 18.1% 7.70%
5 Yr N/A* -13.0% 15.2% 87.52%
10 Yr N/A* -13.4% 6.7% N/A

* Annualized

Return Ranking - Calendar

Period AAIDX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -12.0% 15.7% 76.52%
2022 N/A -31.8% 18.4% 31.99%
2021 N/A -26.6% 25.7% 32.42%
2020 N/A -49.2% 18.7% 98.61%
2019 N/A -35.1% 15.3% 88.41%

Total Return Ranking - Trailing

Period AAIDX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -6.5% 5.7% 34.85%
1 Yr N/A -9.3% 24.0% 90.91%
3 Yr N/A* -16.7% 18.1% 7.70%
5 Yr N/A* -13.0% 15.2% 87.52%
10 Yr N/A* -13.4% 6.7% N/A

* Annualized

Total Return Ranking - Calendar

Period AAIDX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -7.0% 22.2% 93.48%
2022 N/A -31.8% 21.1% 8.85%
2021 N/A -13.5% 49.9% 3.21%
2020 N/A -28.6% 24.1% 98.61%
2019 N/A -4.8% 19.1% 98.50%

NAV & Total Return History


AAIDX - Holdings

Concentration Analysis

AAIDX Category Low Category High AAIDX % Rank
Net Assets 134 M 2.32 M 127 B 78.76%
Number of Holdings 67 2 10577 88.16%
Net Assets in Top 10 86.8 M -1.57 B 65.8 B 61.46%
Weighting of Top 10 64.67% 0.7% 170.6% 16.67%

Top 10 Holdings

  1. First American Government Obligations Fund 20.00%
  2. Multifamily Structured Credit Risk 11.52%
  3. FRESB 2022-SB100 Mortgage Trust 6.01%
  4. FRESB 2023-SB106 Mortgage Trust 5.27%
  5. FRESB 2022-SB98 Mortgage Trust 4.28%
  6. TPI RE-REMIC Trust 2022-FRR1 4.17%
  7. FREMF Mortgage Trust 3.72%
  8. FRESB 2022-SB95 Mortgage Trust 3.64%
  9. Hudsons Bay Simon JV Trust 2015-HBS 3.10%
  10. FRESB 2021-SB93 Mortgage Trust 2.96%

Asset Allocation

Weighting Return Low Return High AAIDX % Rank
Bonds
84.80% -150.81% 203.29% 60.55%
Cash
20.72% -94.66% 258.91% 9.71%
Preferred Stocks
2.43% 0.00% 30.46% 6.07%
Stocks
0.39% -1.60% 99.88% 48.56%
Convertible Bonds
0.00% 0.00% 33.50% N/A
Other
-8.34% -72.32% 100.00% 96.36%

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
0.39% -1.47% 99.88% 45.22%
Non US
0.00% -0.13% 17.73% 63.88%

Bond Sector Breakdown

Weighting Return Low Return High AAIDX % Rank
Cash & Equivalents
20.58% 0.00% 88.14% 9.28%
Derivative
0.00% -72.32% 37.37% 50.53%
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
84.80% -151.11% 203.29% 39.91%
Non US
0.00% 0.00% 67.77% 84.98%

AAIDX - Expenses

Operational Fees

AAIDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.54% 0.01% 20.67% 11.20%
Management Fee 1.25% 0.00% 2.29% 92.17%
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% 5.00% 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% 15.38%

AAIDX - Distributions

Dividend Yield Analysis

AAIDX Category Low Category High AAIDX % Rank
Dividend Yield 8.66% 0.00% 18.15% 92.03%

Dividend Distribution Analysis

AAIDX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Quarterly

Net Income Ratio Analysis

AAIDX Category Low Category High AAIDX % Rank
Net Income Ratio 11.51% -1.55% 11.51% 0.15%

Capital Gain Distribution Analysis

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

Distributions History

View More +

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 5.72 3.19