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Trending ETFs

Name

As of 09/29/2023

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

$9.27

$116 M

0.00%

2.13%

Vitals

YTD Return

3.6%

1 yr return

4.4%

3 Yr Avg Return

6.4%

5 Yr Avg Return

3.4%

Net Assets

$116 M

Holdings in Top 10

70.6%

52 WEEK LOW AND HIGH

$9.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.13%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 0.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$2,500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 09/29/2023

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

$9.27

$116 M

0.00%

2.13%

CWXIX - Profile

Distributions

  • YTD Total Return 3.6%
  • 3 Yr Annualized Total Return 6.4%
  • 5 Yr Annualized Total Return 3.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.71%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Catalyst/Warrington Strategic Program Fund
  • Fund Family Name
    Mutual Fund Series Trust
  • Inception Date
    Aug 30, 2013
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Scott Kimple

Fund Description

The Fund seeks to achieve its investment objective by buying and selling short-term options and option spreads on the Standard & Poor’s 500 Index (“S&P”) futures and holding cash and cash equivalents, including treasury securities and money market mutual funds. An option spread is a strategy where the Fund buys two different options on the S&P, but with different prices or expirations, in order to hedge against declines in the value of the options. The Fund’s investment sub-advisor, Warrington Asset Management, LLC (the “Sub-Advisor”), constructs the Fund’s portfolio based on its opinion of the direction of short-term S&P futures contracts derived from the Sub-Advisor’s technical and fundamental analysis. The Sub-Advisor’s technical analysis focuses on the price movements of the S&P. The Sub-Advisor’s fundamental analysis focuses on macroeconomic events. After the Sub-Advisor establishes what it believes is a cohesive market opinion, various combinations of put and call options on S&P futures contracts are used to express the Sub-Advisor’s bullish, bearish, or neutral opinions. Concurrent with entering a position, the Sub-Advisor employs its risk management strategy that seeks to manage volatility in the Fund’s annual returns and reduce the overall risk of investing in the Fund. Implementing partial hedges early into a market move is a key component of the risk protocol. If the market continues to move against the position, further hedges are implemented. There are times when no hedges are implemented. The risk management strategy establishes a market level at which the Sub-Advisor seeks to eliminate or reduce market exposure depending on market direction. This level is determined at the onset of each trade and is revisited as the option approaches expiration.

After a market position and any hedges are in place, market movement determines the next step in the investment process. The portfolio is adjusted based on whether the options are out-of-the money (i.e., it would be worthless if it expired today), or deep-in-the-money (i.e., it would have value if it expired today). This risk management plan is dynamically monitored and adjusted as needed based on the portfolio managers’ opinions. The risk management plan may not protect

against market declines, may limit the Fund’s participation in market gains (particularly when market values increase with high volatility), and may increase portfolio transactions which could reduce gains. The success of the risk management plan depends on the Sub-Advisor’s ability to correctly analyze market conditions and timely implement the Fund’s volatility management techniques.

The Fund also holds a large portion of its assets in cash, money market mutual funds, U.S. Treasury Securities, and other cash equivalents, some or all of which will serve as margin or collateral for the Fund’s investments.

The Fund actively trades its portfolio investments, which may lead to higher transaction costs that may affect the Fund’s performance. In addition, active trading of options and other portfolio investments may lead to higher taxes if Fund shares are held in a taxable account.

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CWXIX - Performance

Return Ranking - Trailing

Period CWXIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.6% -2.8% 240.8% 82.61%
1 Yr 4.4% -4.3% 140.6% 95.22%
3 Yr 6.4%* -8.3% 18.3% 94.23%
5 Yr 3.4%* -5.0% 17.3% 96.61%
10 Yr 0.9%* -4.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period CWXIX Return Category Return Low Category Return High Rank in Category (%)
2022 5.2% -34.1% 904.0% 58.56%
2021 8.4% -28.6% 438.4% 97.11%
2020 3.7% -93.5% 8.2% 7.59%
2019 -4.8% -38.9% 19.8% 93.02%
2018 -1.9% -10.9% 12.8% 88.35%

Total Return Ranking - Trailing

Period CWXIX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.6% -2.7% 244.0% 83.40%
1 Yr 4.4% -4.3% 140.6% 95.22%
3 Yr 6.4%* -8.3% 18.3% 93.59%
5 Yr 3.4%* -5.4% 17.3% 96.61%
10 Yr 0.9%* -4.6% 13.2% N/A

* Annualized

Total Return Ranking - Calendar

Period CWXIX Return Category Return Low Category Return High Rank in Category (%)
2022 6.3% -34.1% 904.0% 58.56%
2021 8.4% -5.9% 438.4% 97.69%
2020 3.7% -81.2% 8.2% 12.41%
2019 -4.8% -29.0% 19.8% 96.12%
2018 -1.9% -10.9% 12.8% 27.18%

NAV & Total Return History


CWXIX - Holdings

Concentration Analysis

CWXIX Category Low Category High CWXIX % Rank
Net Assets 116 M 25 17.4 B 44.19%
Number of Holdings 27 2 508 81.30%
Net Assets in Top 10 83.7 M -6.66 M 5.12 B 85.11%
Weighting of Top 10 70.56% 11.3% 100.0% 98.00%

Top 10 Holdings

  1. B 01/25/24 16.38%
  2. B 08/10/23 12.58%
  3. B 12/28/23 12.32%
  4. B 07/13/23 10.94%
  5. B 09/07/23 8.35%
  6. B 11/02/23 8.28%
  7. FIRST AM-TR OB-X 1.55%
  8. Emini SP M Week O Jul23P 0.06%
  9. Emini SP M Week O Jul23P 0.06%
  10. SP Emini 1st Wee Jul23P 0.04%

Asset Allocation

Weighting Return Low Return High CWXIX % Rank
Bonds
68.85% 0.00% 97.96% 96.56%
Cash
31.31% -0.76% 100.29% 4.96%
Stocks
0.00% -3.92% 100.76% 95.80%
Preferred Stocks
0.00% 0.00% 3.08% 95.80%
Convertible Bonds
0.00% 0.00% 20.91% 96.18%
Other
-0.15% 0.00% 45.92% 5.73%

Bond Sector Breakdown

Weighting Return Low Return High CWXIX % Rank
Cash & Equivalents
1.55% 0.09% 100.00% 69.85%
Securitized
0.00% 0.00% 22.63% 95.80%
Corporate
0.00% 0.00% 91.57% 96.18%
Municipal
0.00% 0.00% 97.57% 95.80%
Government
0.00% 0.00% 99.91% 96.18%
Derivative
-0.15% 0.00% 0.13% 95.80%

Bond Geographic Breakdown

Weighting Return Low Return High CWXIX % Rank
US
68.85% 0.00% 97.96% 96.95%
Non US
0.00% 0.00% 16.94% 96.18%

CWXIX - Expenses

Operational Fees

CWXIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.13% 0.20% 6.78% 13.99%
Management Fee 1.75% 0.20% 1.75% 100.00%
12b-1 Fee N/A 0.00% 1.00% 62.64%
Administrative Fee N/A 0.02% 0.28% N/A

Sales Fees

CWXIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.75% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

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

CWXIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 0.00% 0.00% 456.80% 26.79%

CWXIX - Distributions

Dividend Yield Analysis

CWXIX Category Low Category High CWXIX % Rank
Dividend Yield 0.00% 0.00% 3.76% 97.40%

Dividend Distribution Analysis

CWXIX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Monthly Annually

Net Income Ratio Analysis

CWXIX Category Low Category High CWXIX % Rank
Net Income Ratio -1.71% -2.54% 14.24% 93.03%

Capital Gain Distribution Analysis

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

Distributions History

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CWXIX - Fund Manager Analysis

Managers

Scott Kimple


Start Date

Tenure

Tenure Rank

Jan 27, 2020

2.34

2.3%

Scott C. Kimple, is a Principal and Portfolio Manager of Warrington since its inception in 2008. Mr. Kimple also serves as the Portfolio Manager to private commodity pools sponsored by an affiliate of Warrington, as well as to separate commodity trading accounts. From 1991 to 2015, Mr. Kimple was employed by Morgan Stanley Smith Barney LLC and its predecessors (“MSSB”) as a registered representative and was registered with the NFA as an Associated Person of MSSB. Mr. Kimple received a BBA in finance from Southern Methodist University and a MBA, with emphasis in Finance and Derivative Securities, from SMU’s Cox School of Business.

Mark Adams


Start Date

Tenure

Tenure Rank

Jan 27, 2020

2.34

2.3%

Mark W. Adams has been the Assistant Portfolio Manager to Warrington GP, LLC an affiliate of Warrington Asset Management LLC since 2015. From 2009 to 2014, Mr. Adams was employed by Morgan Stanley Smith Barney LLC (“MSSB”) and was registered with the NFA as an Associated Person of MSSB. Mr. Adams graduated from Washington University in St. Louis where he received a BBA with a triple major in Finance, Management and International Business. He also received an MBA from Southern Methodist University’s Cox School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 19.77 3.61 5.67