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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$35.78

$3.91 B

3.98%

$1.42

2.29%

Vitals

YTD Return

-0.3%

1 yr return

4.6%

3 Yr Avg Return

3.2%

5 Yr Avg Return

2.3%

Net Assets

$3.91 B

Holdings in Top 10

68.5%

52 WEEK LOW AND HIGH

$35.9
$34.08
$40.53

Expenses

OPERATING FEES

Expense Ratio 2.29%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 13.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$2,500


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$35.78

$3.91 B

3.98%

$1.42

2.29%

MBXAX - Profile

Distributions

  • YTD Total Return -0.3%
  • 3 Yr Annualized Total Return 3.2%
  • 5 Yr Annualized Total Return 2.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.47%
DIVIDENDS
  • Dividend Yield 4.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Catalyst/Millburn Hedge Strategy Fund
  • Fund Family Name
    Catalyst Mutual Funds
  • Inception Date
    Dec 28, 2015
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Barry Goodman

Fund Description

The Fund seeks to achieve its investment objective by investing in a portfolio comprised of (i) futures contracts, forward and spot contracts, and/or options on futures contracts on or related to the following sectors: currencies, interest rate instruments, stock indices, metals, energy and agricultural commodities, (the “Futures Component”) and (ii) equity exchange traded funds (“ETFs”), currently implemented via a portfolio of ETFs, but may also be implemented and/or augmented by single-name or baskets of equity securities, and common stocks (the “Equity Component”), intended to capitalize on the non-correlated, long term historical performance of the equities and managed futures asset classes 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.

Futures Component: The Futures Component of the Fund’s portfolio may hold long and short positions on futures contracts, forward contracts and options on futures contracts, and maintains cash and cash equivalents to be utilized as margin or collateral. The Fund invests 30% to 70% of its assets in the Futures Component. The Futures Component of the Fund’s assets are allocated among various asset classes including equity, fixed income, commodities and currencies. Investments may be made in domestic and foreign markets, including emerging markets. Investment in these instruments may be made by the Fund directly or indirectly by investing through its Subsidiary (as described below).

The Fund’s sub-advisor, Millburn Ridgefield Corporation (the “Sub-Advisor”), utilizes a set of proprietary trading systems, developed by the Sub-Advisor to determine the Fund’s asset allocations. The trading systems generate buy or sell decisions in a particular market based on the analysis of technical market information (such as price, liquidity, and transaction costs) and/or non-price economic variables (such as economic statistics, interest rates, and supply/demand measures). The trading systems analyze these factors over a broad time spectrum that may range from several minutes to multiple years. The Sub-Advisor analyzes a number of additional factors in determining how the markets traded are allocated in the portfolio including, but not limited to: profitability of an asset class or market; liquidity of a particular market; professional judgement; desired diversification among markets and asset classes; transaction costs; exchange regulations

and depth of market. Decisions whether to trade a particular market require the exercise of judgment. The decision not to trade certain markets for certain periods, or to reduce the size of a position in a particular market, may result at times in missing significant profit opportunities. The allocations are reviewed at least monthly, although changes may occur more or less frequently.

Equity Component. The Equity Component is intended to provide the Fund’s portfolio with long-term, strategic exposure to a number of U.S. and international liquid equity securities. The companies held by the Fund and the ETFs held by the Fund may be of any market capitalization, sector and geographic location (including emerging markets). The Fund invests 30% to 70% of its assets in the Equity Component. The Fund’s Equity Component investments are taken on a relatively passive, long-only, “buy-and-hold” basis.

The Fund actively trades its portfolio investments, which may lead to higher transaction costs that may affect the Fund’s performance.

Investments in Subsidiary – The Sub-Advisor executes a portion of the Fund’s strategy by investing up to 25% of its total assets in a wholly-owned and controlled subsidiary (the "Subsidiary").  The Subsidiary invests the majority of its assets in commodities and other futures contracts.  The Subsidiary is subject to the same investment restrictions as the Fund, when viewed on a consolidated basis.  

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MBXAX - Performance

Return Ranking - Trailing

Period MBXAX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.3% -73.0% 19.4% 3.23%
1 Yr 4.6% -9.1% 86.9% 2.91%
3 Yr 3.2%* -9.5% 16.2% 11.24%
5 Yr 2.3%* -4.9% 14.4% 3.59%
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Return Ranking - Calendar

Period MBXAX Return Category Return Low Category Return High Rank in Category (%)
2022 -0.3% -22.7% 305.1% 82.22%
2021 8.0% -9.8% 27.3% 25.40%
2020 -1.5% -20.8% 10.9% 48.44%
2019 2.0% -12.4% 29.4% 8.42%
2018 -1.1% -10.5% 15.8% 1.05%

Total Return Ranking - Trailing

Period MBXAX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.3% -73.0% 19.4% 3.23%
1 Yr 4.6% -13.4% 86.9% 7.64%
3 Yr 3.2%* -9.5% 16.2% 23.69%
5 Yr 2.3%* -5.3% 14.4% 9.42%
10 Yr N/A* -0.9% 7.5% N/A

* Annualized

Total Return Ranking - Calendar

Period MBXAX Return Category Return Low Category Return High Rank in Category (%)
2022 -0.3% -22.7% 305.1% 82.22%
2021 8.0% -9.8% 27.3% 25.81%
2020 -1.5% -20.8% 10.9% 56.00%
2019 2.0% -8.4% 29.4% 3.96%
2018 -1.1% -10.2% 18.0% 1.05%

NAV & Total Return History


MBXAX - Holdings

Concentration Analysis

MBXAX Category Low Category High MBXAX % Rank
Net Assets 3.91 B 1.5 M 5.01 B 7.01%
Number of Holdings 176 4 4478 60.78%
Net Assets in Top 10 2.38 B -398 M 2.55 B 2.83%
Weighting of Top 10 68.52% 13.1% 100.0% 41.28%

Top 10 Holdings

  1. United States Treasury Notes 1.5% 14.80%
  2. United States Treasury Notes 2.25% 11.51%
  3. Us Bank Mmda - Usbgfs5 11.31%
  4. Us Bank Mmda - Usbgfs5 11.31%
  5. Us Bank Mmda - Usbgfs5 11.31%
  6. Us Bank Mmda - Usbgfs5 11.31%
  7. Us Bank Mmda - Usbgfs5 11.31%
  8. Us Bank Mmda - Usbgfs5 11.31%
  9. Us Bank Mmda - Usbgfs5 11.31%
  10. Us Bank Mmda - Usbgfs5 11.31%

Asset Allocation

Weighting Return Low Return High MBXAX % Rank
Stocks
47.60% -3.75% 97.95% 21.55%
Cash
28.41% -6278.21% 410.43% 40.64%
Bonds
16.58% -326.45% 6347.80% 66.43%
Other
7.41% -21.53% 148.54% 39.58%
Preferred Stocks
0.00% -0.12% 46.97% 56.18%
Convertible Bonds
0.00% 0.00% 87.92% 70.67%

Stock Sector Breakdown

Weighting Return Low Return High MBXAX % Rank
Technology
15.67% 0.00% 39.58% 63.39%
Financial Services
14.49% 0.00% 59.28% 54.72%
Real Estate
14.02% 0.00% 51.26% 11.42%
Industrials
12.26% 0.00% 21.45% 24.02%
Consumer Cyclical
10.70% 0.00% 29.09% 51.18%
Healthcare
10.63% 0.00% 45.63% 37.40%
Basic Materials
4.99% 0.00% 27.46% 43.31%
Consumer Defense
4.78% 0.00% 13.62% 59.84%
Energy
4.68% 0.00% 100.00% 37.40%
Communication Services
4.66% 0.00% 21.78% 82.28%
Utilities
3.11% 0.00% 9.23% 44.09%

Stock Geographic Breakdown

Weighting Return Low Return High MBXAX % Rank
US
39.99% -8.85% 91.88% 18.02%
Non US
7.61% -19.62% 42.11% 37.46%

Bond Sector Breakdown

Weighting Return Low Return High MBXAX % Rank
Derivative
88.34% 0.00% 88.81% 0.35%
Cash & Equivalents
7.29% 0.27% 100.00% 87.63%
Government
4.37% 0.00% 84.29% 70.67%
Securitized
0.00% 0.00% 56.83% 65.72%
Corporate
0.00% 0.00% 87.73% 80.57%
Municipal
0.00% 0.00% 27.33% 45.23%

Bond Geographic Breakdown

Weighting Return Low Return High MBXAX % Rank
US
16.58% -126.19% 6311.18% 49.47%
Non US
0.00% -382.37% 121.02% 77.39%

MBXAX - Expenses

Operational Fees

MBXAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.29% 0.29% 31.15% 40.65%
Management Fee 1.75% 0.00% 2.50% 88.34%
12b-1 Fee 0.25% 0.00% 1.00% 35.81%
Administrative Fee N/A 0.01% 0.30% N/A

Sales Fees

MBXAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 2.50% 5.75% 13.46%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

MBXAX 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.

MBXAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 13.00% 0.00% 491.00% 27.82%

MBXAX - Distributions

Dividend Yield Analysis

MBXAX Category Low Category High MBXAX % Rank
Dividend Yield 3.98% 0.00% 4.56% 31.80%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MBXAX Category Low Category High MBXAX % Rank
Net Income Ratio -1.47% -2.51% 6.83% 82.37%

Capital Gain Distribution Analysis

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

Distributions History

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MBXAX - Fund Manager Analysis

Managers

Barry Goodman


Start Date

Tenure

Tenure Rank

Dec 28, 2015

6.43

6.4%

Mr. Goodman is Co-Chief Executive Officer and Executive Director of Trading of Millburn, and is a member of Millburn’s Investment Committee. Mr. Goodman joined Millburn in 1982 as Assistant Director of Trading. He played an important role in the development of several key investment directions at the firm, including projects taken from inception through to execution and ongoing support. Today, Mr. Goodman’s role is focused on strategic initiatives and the enhancement of capabilities across all critical operating areas of the firm. From 1979 through late 1982, prior to joining Millburn, Mr. Goodman was with E. F. Hutton & Co., Inc. At Hutton, the majority of his time was spent in trading, where he designed and maintained various technical indicators and coordinated research projects pertaining to the futures markets. Mr. Goodman graduated magna cum laude from Harpur College of the State University of New York in 1979 with a B.A. in economics. He has been a featured speaker at industry events in the United States, Europe and Asia.

Harvey Beker


Start Date

Tenure

Tenure Rank

Dec 28, 2015

6.43

6.4%

Mr. Beker is Chairman of Millburn and Chairman of Millburn’s Investment Committee. Mr. Beker has been employed by Millburn since June 1978.  During his tenure at Millburn, he has been instrumental in the development of the research, trading and operations areas. Mr. Beker became a principal of the firm in 1982.  From June 1975 to July 1977, Mr. Beker was employed by Loeb Rhoades, Inc. where he developed and traded silver arbitrage strategies. From July 1977 to June 1978, he was a futures trader at Clayton Brokerage Co. of St. Louis. Mr. Beker received a B.A. in economics from New York University in 1974 and an M.B.A. in finance from NYU in 1975.

Grant Smith


Start Date

Tenure

Tenure Rank

Dec 28, 2015

6.43

6.4%

Mr. Smith is Co-Chief Executive Officer and Chief Investment Officer of Millburn, and is a member of Millburn’s Investment Committee. Mr. Smith joined Millburn in 1975. His responsibilities include the design, testing and implementation of quantitative trading strategies, as well as for planning and overseeing the computerized decision-support systems of the firm. Mr. Smith received a B.S. from the Massachusetts Institute of Technology in 1974 and an M.S. from M.I.T. in 1975. While at M.I.T. he held several teaching and research positions in the computer science field and participated in various projects relating to database management.

Tenure Analysis

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