Decathlon Market Neutral Fund
Name
As of 02/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
2.1%
1 yr return
-0.2%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$1.92 M
Holdings in Top 10
77.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 5.02%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$25,000
IRA
$25,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 02/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DECIX - Profile
Distributions
- YTD Total Return 2.1%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.13%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameDecathlon Market Neutral Fund
-
Fund Family NameQuantified Funds
-
Inception DateApr 19, 2021
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBrendan Ryan
Fund Description
The Funds investment adviser Advisors Preferred, LLC (the Adviser), delegates execution of the Funds investment strategy to Beaumont Capital Management, LLC (the Sub-Adviser). The Sub-Adviser seeks to achieve the Funds investment objective by investing, long or short, primarily in common stocks and exchange-traded funds (ETFs) that each invest primarily in common stocks. The Sub-Adviser invests in individual stocks, baskets of stocks and ETFs that it believes are undervalued or likely to appreciate and sells short individual stocks, baskets of stocks and ETFs that it believes are overvalued or likely to decline. To sell a security short, the Fund borrows the security from a third party and sells it at the then-current market price. The Fund is then obligated to buy the security on a later date so that it can return the security to the lender.
The Sub-Adviser primarily uses a proprietary quantitative ranking system that it refers to as machine learning to make undervalued/overvalued determinations. The proprietary quantitative ranking system forecasts which asset classes or specific securities are expected to have the highest to lowest returns. This is a systematic portfolio management approach using automated formula discovery and rigorous, confidence-based statistical analysis with human oversight. Automated formula discovery is a form of computer program that analyzes raw data, detects patterns and translates those patterns into mathematical formulas that can be used to forecast security prices. Confidence-based statistical analysis is a form of statistical analysis that gives greater weight to factors that are identified as more-certain and less subject to randomness and less subject to produce erroneous predictions. The human oversight dimension is a common-sense logic check on the output of the mathematical models that is intended to identify and suppress highly improbable results, such as very large negative interest rates.
As a supplement to the quantitative system, the Sub-Adviser includes the firms best fundamental ideas where appropriate. These are implemented with the same fully hedged long-short exposure approach as used under the quantitative system. These fundamental selections are designed to capture what the Sub-Adviser believes are merely market-perceived short-term economic dislocations that do not represent long-term economic fundamentals. While these investments may also be informed, in part, by the quantitative system they need not be. Examples of the types of fundamental trades the Sub-Adviser may implement are industry pair trades (e.g. long the stock of one auto manufacturer and short the stock of another auto manufacturer); going long or short a particular company stock while hedging with a short or long position in an index; arbitrages such as capital structure arbitrage (e.g. investing in debt of an issuer while selling short its stock) or merger arbitrage (e.g. investing in the stock of a merger target while selling short the stock of the acquirer).
The Sub-Adviser targets portfolio net market exposure of 0% with a range between -10% to 10% and standard deviation of Fund returns of approximately 3% to 8% annualized. Standard deviation is a statistical measure of variation or volatility of returns. Generally, investors prefer returns with a lower standard deviation. The Sub-Adviser re-evaluates undervalued/overvalued status frequently, which results in relatively high portfolio turnover.
The Sub-Adviser may also use long or short positions in stock futures and swaps as a temporary substitute for underlying stocks or to attempt to hedge portfolio risk or manage overall market exposure. The Sub-Adviser reduces futures and swaps exposure as attractive specific stocks and asset class representative ETFs are found. To a lesser extent, the Sub-Adviser may supplement its primary strategy by investing in corporate bonds if they appear to be underpriced; or engaging in capital structure arbitrage, such as investing in debt of an issuer while selling short its stock. Corporate bonds may include securities with credit quality below investment grade (commonly referred to as junk bond credit quality). The Fund defines junk bonds as those rated below Baa3 by Moodys Investors Service, Inc. (Moodys or below BBB- by Standard and Poors Rating Group (S&P) or, if unrated, determined by the Sub-Adviser to be of similar credit quality.
To generate additional returns, the Sub-Adviser may also write covered put and call options against the Funds short and long positions. The Sub-Adviser may also write uncovered put and calls options as substitutes for outright long or short security positions, when economically more advantageous. The Sub-Adviser compares the erosion of the time value of a written option to the expected returns of the reference security to assess which is more advantageous. For example, if the Sub-Adviser believes a stock is overvalued or likely to decline, it may write an uncovered call option rather than sell the stock short; and if the Sub-Adviser believes a stock is undervalued or likely to appreciate, it may write an uncovered put option rather than buy the stock. When the Fund writes a call option, the purchaser has the right, but not the obligation, to buy a stock at a specified price (strike price) within a specific time period. When the Fund writes a put option, the purchaser has the right, but not the obligation, to sell a stock at a specified price (strike price) within a specific time period. The Sub-Adviser selects written options that it believes will expire worthless or are likely to decline in value. The Sub-Adviser may adjust option positions based on price movements of the refence stock or to adjust overall market exposure.
The Funds portfolio may hold securities from issuers of any market capitalization, credit quality, maturity, country, or trading currency.
DECIX - Performance
Return Ranking - Trailing
Period | DECIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.1% | -23.7% | 16.4% | 51.29% |
1 Yr | -0.2% | -8.9% | 48.3% | N/A |
3 Yr | N/A* | -2.2% | 16.4% | N/A |
5 Yr | N/A* | -0.7% | 13.4% | N/A |
10 Yr | N/A* | 0.9% | 11.8% | N/A |
* Annualized
Return Ranking - Calendar
Period | DECIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.0% | -40.8% | 20.6% | N/A |
2022 | -13.0% | -21.0% | 24.5% | N/A |
2021 | N/A | -24.2% | 27.8% | N/A |
2020 | N/A | -23.1% | 11.7% | N/A |
2019 | N/A | -100.0% | 20.6% | N/A |
Total Return Ranking - Trailing
Period | DECIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.1% | -23.7% | 16.4% | 50.21% |
1 Yr | -0.2% | -12.8% | 48.3% | N/A |
3 Yr | N/A* | -3.4% | 16.4% | N/A |
5 Yr | N/A* | -1.1% | 13.4% | N/A |
10 Yr | N/A* | 0.9% | 11.8% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | DECIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.0% | -40.8% | 20.6% | N/A |
2022 | -12.6% | -21.0% | 24.5% | N/A |
2021 | N/A | -24.2% | 27.8% | N/A |
2020 | N/A | -23.1% | 11.7% | N/A |
2019 | N/A | -2.9% | 23.1% | N/A |
NAV & Total Return History
DECIX - Holdings
Concentration Analysis
DECIX | Category Low | Category High | DECIX % Rank | |
---|---|---|---|---|
Net Assets | 1.92 M | 1.12 M | 110 B | 99.35% |
Number of Holdings | 93 | 2 | 10961 | 92.07% |
Net Assets in Top 10 | 1.52 M | -31.7 M | 22 B | 91.23% |
Weighting of Top 10 | 77.01% | 10.8% | 100.0% | 14.63% |
Top 10 Holdings
- FID-MM GOVT-I 34.86%
- FRST AM-GV OB-X 23.03%
- SPDR SP CAPITAL 2.56%
- ISHARES CORE SP TOTAL U. 2.53%
- TECHNOLOGY SELECT SECT SP 2.39%
- ISHARES RUSSELL 1000 GROW 2.36%
- ISHARES MSCI INDIA SMALL- 2.34%
- FIRST TRST NASD CL EDG SG 2.33%
- ISHARES GLOBAL 100 ETF 2.33%
- ISHARES MSCI EAFE VALUE E 2.28%
Asset Allocation
Weighting | Return Low | Return High | DECIX % Rank | |
---|---|---|---|---|
Cash | 90.11% | -97.12% | 185.58% | 48.43% |
Stocks | 15.03% | -45.72% | 98.42% | 95.62% |
Convertible Bonds | 0.40% | 0.00% | 25.49% | 27.56% |
Bonds | 0.40% | -39.76% | 93.84% | 0.63% |
Preferred Stocks | 0.00% | -0.03% | 14.00% | 86.22% |
Other | -5.54% | -1.25% | 197.12% | 67.64% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DECIX % Rank | |
---|---|---|---|---|
Technology | 44.11% | 0.00% | 39.48% | 75.80% |
Financial Services | 12.52% | 0.00% | 30.34% | 2.55% |
Healthcare | 10.05% | 0.00% | 30.30% | 78.56% |
Consumer Defense | 6.13% | 0.00% | 31.85% | 21.44% |
Industrials | 5.86% | 0.09% | 32.39% | 31.63% |
Consumer Cyclical | 5.85% | 0.00% | 20.84% | 52.23% |
Communication Services | 5.48% | 0.00% | 28.59% | 73.04% |
Energy | 4.29% | 0.00% | 38.61% | 23.57% |
Utilities | 2.00% | 0.00% | 40.29% | 41.83% |
Basic Materials | 1.87% | 0.00% | 60.23% | 17.41% |
Real Estate | 1.85% | 0.00% | 90.14% | 83.23% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DECIX % Rank | |
---|---|---|---|---|
US | 15.03% | -4.82% | 95.75% | 97.70% |
Non US | 0.00% | -46.69% | 57.06% | 73.07% |
Bond Sector Breakdown
Weighting | Return Low | Return High | DECIX % Rank | |
---|---|---|---|---|
Government | 64.37% | 0.00% | 98.64% | 7.10% |
Cash & Equivalents | 57.90% | 0.10% | 100.00% | 88.10% |
Corporate | 12.69% | 0.00% | 99.90% | 56.58% |
Securitized | 8.60% | 0.00% | 83.28% | 38.62% |
Municipal | 0.53% | 0.00% | 31.28% | 10.02% |
Derivative | -5.54% | 0.00% | 41.88% | 77.66% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | DECIX % Rank | |
---|---|---|---|---|
US | 0.40% | -177.12% | 87.76% | 0.63% |
Non US | 0.00% | -39.00% | 137.36% | 65.97% |
DECIX - Expenses
Operational Fees
DECIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 5.02% | 0.16% | 2.71% | 25.89% |
Management Fee | 0.90% | 0.00% | 1.70% | 98.93% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 6.37% |
Administrative Fee | N/A | 0.01% | 0.70% | N/A |
Sales Fees
DECIX 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% | 5.50% | N/A |
Trading Fees
DECIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 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.
DECIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 441.00% | N/A |
DECIX - Distributions
Dividend Yield Analysis
DECIX | Category Low | Category High | DECIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 10.92% | 24.74% |
Dividend Distribution Analysis
DECIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annually | Monthly | Monthly |
Net Income Ratio Analysis
DECIX | Category Low | Category High | DECIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.13% | -5.20% | 6.33% | 63.40% |
Capital Gain Distribution Analysis
DECIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Jun 29, 2022 | $0.036 | OrdinaryDividend |
Jun 29, 2021 | $0.037 | OrdinaryDividend |
DECIX - Fund Manager Analysis
Managers
Brendan Ryan
Start Date
Tenure
Tenure Rank
Apr 16, 2021
1.12
1.1%
Brendan’s primary role is Assistant Portfolio Manager for BCM strategies with a focus on fundamental analysis. He serves on the BCM investment committee and is additionally responsible for assisting with trading of the BCM strategies, operational support and special projects as needed. He currently holds the Series 65 securities license and is a CFA® Charterholder. Prior to joining BCM full-time, Brendan also worked in the firm’s wealth management division, where he focused primarily on fundamental equity research. Prior to joining the firm, Brendan had spent time working for Brown Brothers Harriman & Co. after receiving his B.A. in Economics from Boston College.
Denis Rezendes
Start Date
Tenure
Tenure Rank
Apr 16, 2021
1.12
1.1%
Denis Rezendes, CFA, is a Partner of the Beaumont Capital Management since January 2020. From 2014 to 2020 he served as a research analyst for the Sub-Adviser or predecessor. Denis’ primary role is Assistant Portfolio Manager for BCM with a focus on quantitative analysis. He serves on the BCM investment committee and is additionally responsible for assisting with trading of the BCM strategies, operational support and special projects as needed. He currently holds the Series 65 securities license and is a CFA® Charterholder. Prior to joining the BCM, he worked for P-Solve, a specialist investment consultant, actuarial consultant, fiduciary manager, and annuity placement specialist, which is a division of River and Mercantile Group PLC (a financial services holding company); and Boston Trust and Investment Management Company. He is a graduate of Babson College with a B.S. in Business Administration, with a concentration in Finance.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.03 | 30.27 | 6.52 | 9.25 |