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Trending ETFs

Name

As of 09/28/2023

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

$8.66

$263 M

3.80%

$0.33

2.34%

Vitals

YTD Return

-5.4%

1 yr return

-11.0%

3 Yr Avg Return

8.9%

5 Yr Avg Return

3.6%

Net Assets

$263 M

Holdings in Top 10

77.5%

52 WEEK LOW AND HIGH

$8.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.34%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 09/28/2023

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

$8.66

$263 M

3.80%

$0.33

2.34%

CSACX - Profile

Distributions

  • YTD Total Return -5.4%
  • 3 Yr Annualized Total Return 8.9%
  • 5 Yr Annualized Total Return 3.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -2.28%
DIVIDENDS
  • Dividend Yield 3.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Credit Suisse Managed Futures Strategy Fund
  • Fund Family Name
    Credit Suisse
  • Inception Date
    Sep 28, 2012
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Yung-Shin Kung

Fund Description

The Fund seeks diverse exposure to significant price trends, both up and down, across asset classes, geographies and time horizons. It aims to capture the aggregate risk-return characteristics of the managed futures industry without the cost and complexity of a multi-manager approach. The fund may take long and/or short positions in these asset classes, and dynamically adjusts its exposure to individual asset classes based on a trend-following approach. The fund may also aim to obtain exposure to other strategies commonly used by managed futures funds. As a component of its overall investment process, Credit Suisse may utilize certain quantitative models and methodologies to guide its investment approach or security selection although the use of such models and methodologies may vary based on market factors and economic trends as determined by Credit Suisse.

The fund seeks to achieve its investment objective by investing directly and/or indirectly through the Subsidiary (as described below) in securities and derivative instruments including, but not limited to, equity index futures and options, swaps on equity index futures, equity swaps, interest rate futures and options, fixed income futures and options, swaps on fixed income futures, commodity and commodity index-linked futures and options, swaps on commodity and commodity index-linked futures, currency futures and options, swaps on currency futures, currency forwards and equity-, fixed income-, and commodity-notes. There are no geographic limits on the fund's holdings and the fund will have exposure to U.S. and non-U.S. securities and currencies. In addition, the fund may have exposure to issuers of any size or credit quality. The fund also invests a significant portion of its assets in investment grade money market instruments, which may include, but are not limited to, U.S. government securities, U.S. government agency securities, short-term fixed income securities, repurchase agreements, money market mutual fund shares, and cash and cash equivalents. The fund's money market instrument holdings may serve as collateral for the fund's derivative positions and may also earn income for the fund. The fund's return is expected to be derived principally from changes in the value of securities and its portfolio is expected to consist principally of securities.

The fund's use of futures, forwards, swaps and certain other financial instruments will have the economic effect of financial leverage. Financial leverage magnifies the exposure to the swings in prices of an asset class underlying a financial instrument and results in increased volatility, which means that the fund will have the potential for greater gains, as well as the potential for greater losses, than if the fund does not use financial instruments that have a leveraging effect. Leveraging tends to magnify, sometimes significantly, the effect of any increase or decrease in the fund's exposure to an asset class and may cause the fund's net asset value ("NAV") to be volatile. A decline in the

fund's assets due to losses magnified by the financial instruments providing leveraged exposure may require the fund to liquidate portfolio positions to satisfy its obligations, to meet redemption requests or to meet the applicable requirements of the Investment Company Act of 1940, as amended (the "1940 Act"), and the rules thereunder when it may not be advantageous to do so.

The fund will enter into short positions, and may use futures and swaps or may sell a security short to do so. For example, the fund may enter into a futures contract pursuant to which it agrees to sell an asset (that it does not currently own) at a specified price at a specified point in the future. This gives the fund a short position with respect to the asset. At times, the fund may have significant short positions.

The fund intends to make investments through the Credit Suisse Cayman Managed Futures Strategy Fund, Ltd., a wholly-owned subsidiary of the fund organized under the laws of the Cayman Islands, and may invest up to 25% of its total assets in the Subsidiary. The fund will invest in the Subsidiary primarily to gain exposure to the commodities markets within the limitations of the federal tax laws, rules and regulations that apply to regulated investment companies. Generally, the Subsidiary will invest in (long and short) commodity-linked futures and swaps, but it may also invest in other types of futures, swaps and options, as well as certain money market instruments, including U.S. government securities, money market fund shares, repurchase agreements and other high-quality, short-term fixed income instruments. The primary purpose of the money market instruments held by the Subsidiary will be to serve as collateral for the Subsidiary's derivative positions; however, these instruments may also earn income for the Subsidiary.

The fund is actively managed by Credit Suisse based on Credit Suisse's view of the prevailing trends in the market. The percentage of the fund's portfolio exposed to each asset class and to any particular strategy will vary from time to time.

For defensive purposes, due to abnormal market conditions or economic situations as determined by Credit Suisse, the fund's investment manager, the fund may invest up to 100% of its total assets in cash or certain short-term securities. Although intended to avoid losses in adverse market, economic, political or other conditions, defensive tactics might be inconsistent with the fund's principal investment strategies and might prevent the fund from achieving its goal.

The fund is "non-diversified," meaning that a relatively high percentage of its assets may be invested in a limited number of issuers of securities.

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CSACX - Performance

Return Ranking - Trailing

Period CSACX Return Category Return Low Category Return High Rank in Category (%)
YTD -5.4% -7.4% 14.6% 9.57%
1 Yr -11.0% -16.1% 36.5% 31.18%
3 Yr 8.9%* -7.9% 13.3% 61.80%
5 Yr 3.6%* -5.3% 10.0% 81.93%
10 Yr 2.8%* -2.4% 4.3% N/A

* Annualized

Return Ranking - Calendar

Period CSACX Return Category Return Low Category Return High Rank in Category (%)
2022 0.7% -16.4% 12.9% 55.91%
2021 -1.6% -9.3% 17.5% 80.43%
2020 0.8% -25.8% 2.2% 36.05%
2019 -5.9% -5.1% 21.0% 88.16%
2018 -5.0% -20.3% 4.6% 16.90%

Total Return Ranking - Trailing

Period CSACX Return Category Return Low Category Return High Rank in Category (%)
YTD -5.4% -7.4% 14.6% 9.57%
1 Yr -11.0% -20.3% 36.5% 27.96%
3 Yr 8.9%* -9.0% 11.1% 58.43%
5 Yr 3.6%* -5.7% 8.7% 78.31%
10 Yr 2.8%* -2.4% 4.3% N/A

* Annualized

Total Return Ranking - Calendar

Period CSACX Return Category Return Low Category Return High Rank in Category (%)
2022 20.1% -16.4% 12.9% 55.91%
2021 6.4% -9.3% 17.5% 80.43%
2020 0.8% -20.3% 2.5% 36.05%
2019 -5.2% -5.1% 21.0% 92.11%
2018 -5.0% -20.3% 6.7% 16.90%

NAV & Total Return History


CSACX - Holdings

Concentration Analysis

CSACX Category Low Category High CSACX % Rank
Net Assets 263 M 2.12 M 1.74 B 28.72%
Number of Holdings 34 3 876 81.91%
Net Assets in Top 10 216 M -100 M 2.04 B 95.74%
Weighting of Top 10 77.54% 20.3% 94.0% 15.69%

Top 10 Holdings

  1. State Street Institutional US Government Money Market Fund 33.48%
  2. United States Treasury Bill 6.74%
  3. United States Treasury Bill 6.62%
  4. United States Treasury Bill 6.14%
  5. United States Treasury Bill 6.07%
  6. United States Treasury Bill 4.44%
  7. United States Treasury Bill 3.89%
  8. United States Treasury Bill 3.55%
  9. United States Treasury Bill 3.30%
  10. United States Treasury Bill 3.29%

Asset Allocation

Weighting Return Low Return High CSACX % Rank
Cash
97.98% -687.11% 117.03% 9.57%
Other
2.03% 0.00% 58.63% 87.23%
Stocks
0.00% -1.78% 72.26% 39.36%
Preferred Stocks
0.00% 0.00% 0.13% 10.64%
Convertible Bonds
0.00% 0.00% 2.27% 91.49%
Bonds
0.00% -50.36% 717.59% 91.49%

CSACX - Expenses

Operational Fees

CSACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.34% 0.75% 12.88% 31.18%
Management Fee 1.04% 0.65% 2.99% 34.04%
12b-1 Fee 1.00% 0.00% 1.00% 96.72%
Administrative Fee N/A 0.09% 0.45% 11.11%

Sales Fees

CSACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load 1.00% 1.00% 5.00% 88.24%

Trading Fees

CSACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 66.32%

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.

CSACX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 198.00% N/A

CSACX - Distributions

Dividend Yield Analysis

CSACX Category Low Category High CSACX % Rank
Dividend Yield 3.80% 0.00% 0.00% 88.30%

Dividend Distribution Analysis

CSACX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Quarterly Annually

Net Income Ratio Analysis

CSACX Category Low Category High CSACX % Rank
Net Income Ratio -2.28% -3.14% 1.55% 92.47%

Capital Gain Distribution Analysis

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

Distributions History

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CSACX - Fund Manager Analysis

Managers

Yung-Shin Kung


Start Date

Tenure

Tenure Rank

Nov 18, 2015

6.54

6.5%

Yung-Shin Kung, Director, is a member of the Alternative Funds Solutions (AFS) group within Credit Suisse Asset Management and a voting member of the AFS Investment Committee. He serves as Head of Portfolio Management - Americas and Global Head of Relative Value research for AFS. In addition, he is Head and CIO of Credit Suisse's Quantitative Investment Strategies group (QIS), an industry pioneer in the development and management of liquid alternative investment portfolios. Mr. Kung rejoined Credit Suisse in 2009 after spending three years at Merrill Lynch as a Director in the Financial Products Group, where he developed and marketed customized structured products and provided advice and guidance to hedge fund investors. Prior to his time at Merrill Lynch, Mr. Kung spent eight years at Credit Suisse First Boston working in several departments including structured debt capital markets, technology investment banking and alternative investments. Mr. Kung began his career at Credit Suisse First Boston in 1997. Mr. Kung holds a B.A. in Economics from the University of Chicago, where he was elected Phi Beta Kappa, and fulfilled the college's requirements for a B.A. in Statistics.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.16 14.09 5.41 5.06