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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$10.61

$702 M

2.65%

$0.28

1.53%

Vitals

YTD Return

2.2%

1 yr return

-1.9%

3 Yr Avg Return

-0.2%

5 Yr Avg Return

-3.0%

Net Assets

$702 M

Holdings in Top 10

53.0%

52 WEEK LOW AND HIGH

$10.6
$10.35
$11.49

Expenses

OPERATING FEES

Expense Ratio 1.53%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 39.00%

Redemption Fee 1.00%


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$10.61

$702 M

2.65%

$0.28

1.53%

GPAIX - Profile

Distributions

  • YTD Total Return 2.2%
  • 3 Yr Annualized Total Return -0.2%
  • 5 Yr Annualized Total Return -2.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.86%
DIVIDENDS
  • Dividend Yield 2.6%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Grant Park Multi Alternative Strategies Fund
  • Fund Family Name
    Grant Park
  • Inception Date
    Dec 31, 2013
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    John Krautsack

Fund Description

p id="xdx_A8E_err--StrategyNarrativeTextBlock_zhRXpgSwKmke" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"The Fund seeks to achieve its investment objectives by allocating its assets among four independent, underlying strategies. Each strategy seeks to identify profitable opportunities across multiple, liquid foreign and domestic markets. The Fund seeks to achieve its investment objective by implementing aggressive diversification across these markets, coupled with risk management and position hedging strategies, which allows the Fund to seek positive returns while seeking to protect the Fund from unnecessary market risk exposure./span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"The Fund’s investment adviser, Dearborn Capital Management, LLC (the “Adviser”) seeks to achieve the Fund’s investment objective by investing primarily in (1) derivatives (including options, futures, forwards, spot contracts and swaps), (2) US equities, (3) open- and closed-end funds and exchange traded funds (“ETFs”) (collectively, “Underlying Funds”), (4) American Depository Receipts (“ADRs”), (5) currencies and (6) domestic and foreign investment grade fixed income instruments of any maturity (including US government bonds and/or other sovereign government bonds). The Fund will invest using futures and/or forwards in combination with ETFs. The Fund may also employ hedging. The Fund invests in all securities without restriction as to issuer capitalization, country or currency in seeking to fulfill the Fund’s investment objective, the Adviser may engage in frequent trading of the Fund’s portfolio securities./span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"The Adviser believes that each of the following strategies will contribute to the Fund’s long-term capital appreciation and absolute positive returns. The Fund expects to allocate a portion of its assets to each of these strategies; however, the allocation among the strategies will vary and there is no maximum that will be allocated to any particular strategy./span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top" td style="font: 10pt Arial, Helvetica, Sans-Serif; width: 0.25in"/td style="font: 10pt Arial, Helvetica, Sans-Serif; width: 0.25in"span style="font: 10pt Arial, Helvetica, Sans-Serif"●/span/tdtd style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"bCommodities Strategy/b invests in a limited number of global commodity markets on a long or short basis./span/td/tr/table p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-top: 0; margin-bottom: 0"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top" td style="font: 10pt Arial, Helvetica, Sans-Serif; width: 0.25in"/td style="font: 10pt Arial, Helvetica, Sans-Serif; width: 0.25in"span style="font: 10pt Arial, Helvetica, Sans-Serif"●/span/tdtd style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"bGlobal Financials Strategy/b invests in global currency, equity and fixed income markets and may take long or short positions./span/td/tr/table p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-top: 0; margin-bottom: 0"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top" td style="font: 10pt Arial, Helvetica, Sans-Serif; width: 0.25in"/td style="font: 10pt Arial, Helvetica, Sans-Serif; width: 0.25in"span style="font: 10pt Arial, Helvetica, Sans-Serif"●/span/tdtd style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"bShort-Term Interest Rates Strategy/b focuses on financial instruments of durations of three years or less and may take long or short positions./span/td/tr/table p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-top: 0; margin-bottom: 0"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top" td style="font: 10pt Arial, Helvetica, Sans-Serif; width: 0.25in"/td style="font: 10pt Arial, Helvetica, Sans-Serif; width: 0.25in"span style="font: 10pt Arial, Helvetica, Sans-Serif"●/span/tdtd style="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"bUpside Capture Strategy/b is a long-biased strategy investing in a basket of investments across multiple asset classes./span/td/tr/table p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-right: 0; margin-top: 0; margin-bottom: 0"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"The Fund may execute the commodities portion of its investment strategy, primarily, by investing up to 25% of its total assets in a wholly-owned and controlled Subsidiary (the “Subsidiary”); however, the Fund may also make these investments outside of the Subsidiary. The Subsidiary is subject to the same investment restrictions as the Fund, when viewed on a consolidated basis./span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"Separately, the Adviser will manage the assets not otherwise needed to execute the principal investment strategies in a manner designed to provide the Fund liquidity, to preserve capital and to generate interest income without creating duration-related or liquidity risks. The Fund will primarily invest in investment grade fixed income securities that meet the following criteria: (1) obligations issued or guaranteed by the United States Government, its agencies or instrumentalities, (2) securities issued by foreign governments, their political subdivisions or agencies or instrumentalities, (3) money market funds, certificates of deposit and time deposits issued by domestic banks, foreign branches of domestic banks, foreign subsidiaries of domestic banks, and domestic and foreign branches of foreign banks, (4) participation interests in loans extended by banks to companies, (5) corporate bonds, notes, commercial paper or similar debt obligations, (6) mortgage backed securities, or (7) ETFs that each invests primarily in the preceding types of fixed income securities. The Fund defines investment grade fixed income securities as those that are rated, at the time purchased, in the top four categories by a rating agency such as Moody’s Investors Service, Inc. (“Moody’s”) or Standard amp; Poor’s Ratings Group (“Samp;P”), or, if unrated, determined by the adviser to be of comparable quality. The fixed income portion of the Fund’s portfolio will be invested without restriction as to issuer country, type of entity, or capitalization./span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 12pt Arial, Helvetica, Sans-Serif"bADVISER’S INVESTMENT PROCESS/b/span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"The Adviser, in concert with the sub-adviser, will pursue the Fund’s investment objective, in part, by utilizing its core investment and risk management process. The Adviser’s research team combines quantitative and qualitative research in the development of the overall fund strategies to be tactically executed by the sub-adviser. The Adviser monitors the overall fund performance to ensure the underlying investment processes are executed within pre-established investment and risk management objectives. The Adviser has overall supervisory responsibilities for the general management and investment of the Fund’s portfolio./span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"In implementing the Fund’s strategy, the Adviser, through the sub-adviser, will use extensive quantitative and economic analysis amongst other forms of analysis to assess securities and investments that span the global market place. The sub-adviser’s quantitative analysis utilizes historical market price data to identify potentially profitable trading opportunities./span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"bDELEGATION OF PORTFOLIO MANAGEMENT TO SUB-ADVISER/b/span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"The Adviser delegates elements of management of the Fund’s portfolio, including the selection of a portion of the Fund’s investments, to the sub-adviser. The Adviser retains responsibility for various aspects of the Fund’s management including setting the Fund’s overall investment strategies, monitoring and evaluating the performance of the sub-adviser, implementing procedures to ensure the sub-adviser complies with the Fund’s investment policies and restrictions. The Adviser is responsible for ongoing performance evaluation and monitoring of the sub-adviser./span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"bRISK MANAGEMENT/b/span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif"The Adviser performs extensive, daily due diligence to ensure the sub-adviser is executing the agreed-upon investment strategies within the established guidelines, which allows the Adviser to remain vigilant in its defense against the risks inherent in the Fund. The Adviser and sub-adviser have implemented a multi-tiered risk management overlay within each strategy and across the collection of strategies./span/p p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"span style="font: 10pt Arial, Helvetica, Sans-Serif" /span/p
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GPAIX - Performance

Return Ranking - Trailing

Period GPAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -73.0% 19.4% 28.32%
1 Yr -1.9% -9.1% 86.9% 56.73%
3 Yr -0.2%* -9.5% 16.2% 17.27%
5 Yr -3.0%* -4.9% 14.4% 20.63%
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Return Ranking - Calendar

Period GPAIX Return Category Return Low Category Return High Rank in Category (%)
2022 -4.4% -22.7% 305.1% 11.48%
2021 -2.4% -9.8% 27.3% 79.03%
2020 2.3% -20.8% 10.9% 62.22%
2019 0.2% -12.4% 29.4% 3.96%
2018 -1.5% -10.5% 15.8% 69.11%

Total Return Ranking - Trailing

Period GPAIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -73.0% 19.4% 28.32%
1 Yr -1.9% -13.4% 86.9% 52.00%
3 Yr -0.2%* -9.5% 16.2% 15.26%
5 Yr -2.7%* -5.3% 14.4% 19.73%
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Total Return Ranking - Calendar

Period GPAIX Return Category Return Low Category Return High Rank in Category (%)
2022 -4.4% -22.7% 305.1% 11.85%
2021 -2.4% -9.8% 27.3% 79.03%
2020 2.3% -20.8% 10.9% 61.78%
2019 0.2% -8.4% 29.4% 7.43%
2018 -1.2% -10.2% 18.0% 58.12%

NAV & Total Return History


GPAIX - Holdings

Concentration Analysis

GPAIX Category Low Category High GPAIX % Rank
Net Assets 702 M 1.5 M 5.01 B 33.58%
Number of Holdings 80 4 4478 74.56%
Net Assets in Top 10 272 M -398 M 2.55 B 25.09%
Weighting of Top 10 52.98% 13.1% 100.0% 55.05%

Top 10 Holdings

  1. Morgan Stanley Instl Lqudty Govt Instl 24.46%
  2. Gpmas Fund Ltd 8.43%
  3. Gpmas Fund Ltd 8.43%
  4. Gpmas Fund Ltd 8.43%
  5. Gpmas Fund Ltd 8.43%
  6. Gpmas Fund Ltd 8.43%
  7. Gpmas Fund Ltd 8.43%
  8. Gpmas Fund Ltd 8.43%
  9. Gpmas Fund Ltd 8.43%
  10. Gpmas Fund Ltd 8.43%

Asset Allocation

Weighting Return Low Return High GPAIX % Rank
Bonds
50.01% -326.45% 6347.80% 16.96%
Cash
35.88% -6278.21% 410.43% 39.58%
Other
8.43% -21.53% 148.54% 37.46%
Stocks
4.63% -3.75% 97.95% 88.69%
Convertible Bonds
1.05% 0.00% 87.92% 55.83%
Preferred Stocks
0.00% -0.12% 46.97% 67.84%

Stock Sector Breakdown

Weighting Return Low Return High GPAIX % Rank
Technology
16.92% 0.00% 39.58% 61.42%
Real Estate
15.44% 0.00% 51.26% 10.24%
Financial Services
13.66% 0.00% 59.28% 65.35%
Industrials
10.65% 0.00% 21.45% 31.10%
Consumer Cyclical
10.62% 0.00% 29.09% 41.34%
Healthcare
10.22% 0.00% 45.63% 40.55%
Communication Services
6.40% 0.00% 21.78% 64.96%
Consumer Defense
5.42% 0.00% 13.62% 50.79%
Basic Materials
4.29% 0.00% 27.46% 48.03%
Energy
3.68% 0.00% 100.00% 43.70%
Utilities
2.70% 0.00% 9.23% 53.94%

Stock Geographic Breakdown

Weighting Return Low Return High GPAIX % Rank
US
3.15% -8.85% 91.88% 85.51%
Non US
1.48% -19.62% 42.11% 75.62%

Bond Sector Breakdown

Weighting Return Low Return High GPAIX % Rank
Government
48.98% 0.00% 84.29% 13.07%
Cash & Equivalents
40.93% 0.27% 100.00% 58.66%
Corporate
9.01% 0.00% 87.73% 29.33%
Securitized
0.74% 0.00% 56.83% 41.70%
Derivative
0.35% 0.00% 88.81% 89.40%
Municipal
0.00% 0.00% 27.33% 59.36%

Bond Geographic Breakdown

Weighting Return Low Return High GPAIX % Rank
US
46.87% -126.19% 6311.18% 13.78%
Non US
3.14% -382.37% 121.02% 60.78%

GPAIX - Expenses

Operational Fees

GPAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.53% 0.29% 31.15% 67.63%
Management Fee 1.18% 0.00% 2.50% 62.54%
12b-1 Fee 0.00% 0.00% 1.00% 11.49%
Administrative Fee N/A 0.01% 0.30% N/A

Sales Fees

GPAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

GPAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 1.00% 2.00% 54.55%

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.

GPAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 39.00% 0.00% 491.00% 25.81%

GPAIX - Distributions

Dividend Yield Analysis

GPAIX Category Low Category High GPAIX % Rank
Dividend Yield 2.65% 0.00% 4.56% 48.06%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

GPAIX Category Low Category High GPAIX % Rank
Net Income Ratio -0.86% -2.51% 6.83% 70.86%

Capital Gain Distribution Analysis

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

Distributions History

View More +

GPAIX - Fund Manager Analysis

Managers

John Krautsack


Start Date

Tenure

Tenure Rank

Dec 31, 2013

8.42

8.4%

Mr. Krautsack is Chairman and Portfolio Manager at EMC Capital Advisors, LLC. Mr. Krautsack directs all investment activity at EMC.Mr. Krautsack started his career in the futures industry in 1985 as an assistant to a prominent S&P 500 trader at the Chicago Mercantile Exchange. From 1989 to 1995, he managed trading operations for De Angelis Trading/Crown Capital Management, JPD Enterprises and ALH Capital. He joined EMC in 1995, overseeing trading and managing the portfolio until he assumed the role of Chairman in 2013.

David Kavanagh


Start Date

Tenure

Tenure Rank

Dec 31, 2013

8.42

8.4%

Mr. Kavanagh has been the President and founder of Dearborn Capital Management, LLC since 1989. Mr. Kavanagh is responsible for overseeing all operations and activities of the firm. Mr. Kavanagh is the President and Chair of the Investment Committee and is responsible for all day-to-day investment decisions for the Fund, including: (i) development of alternative asset strategies; (ii) final screening and selection of financial instruments; (iii) negotiation of the terms of each investment (including those of managed accounts and over-the-counter derivatives); (iv) asset allocation among selected investment vehicles or derivative instruments; and (v) risk monitoring and risk management. From 1983 to 2005, Mr. Kavanagh was a member in good standing of the Chicago Board of Trade. Between 1983 and 1998, Mr. Kavanagh was an institutional salesman in the financial futures area on behalf of Conti Commodity Services, Inc., a futures commission merchant acquired by Refco in 1984 and, subsequently, for Refco, which was also a futures commission merchant. His client base included large hedge funds and financial institutions clients in the financial futures area. Commencing in 1998, Mr. Kavanagh also became president, a principal and an associated person of Dearborn Capital Brokers Ltd., a registered, independent introducing broker and, in 1999, also becoming a registered commodity pool operator. Mr. Kavanagh is the majority owner of Dearborn Capital Management, LLC. He received an MBA from the University of Notre Dame and also received a B.S. in business administration from John Carroll University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 17.37 4.48 1.67