MSTVX: Morningstar Alternatives Fund - MutualFunds.com

Welcome to MutualFunds.com

Please help us personalize your experience and select the one that best describes you.

Your personalized experience is almost ready.

Join other Individual Investors receiving FREE personalized market updates and research. Join other Institutional Investors receiving FREE personalized market updates and research. Join other Financial Advisors receiving FREE personalized market updates and research.

Thank you!

Check your email and confirm your subscription to complete your personalized experience.

Thank you for your submission

We hope you enjoy your experience

Channels

Fixed income news, reports, video and more.

Municipal bonds news, reports, video and more.

Practice management news, reports, video and more.

Portfolio management news, reports, video and more.

Retirement news, reports, video and more.

Learn from industry thought leaders and expert market participants.

Deepen your understanding of Responsible Investing and learn how it can potentially help you build a more successful practice.

Morningstar Alternatives

MSTVX - Snapshot

Vitals

  • YTD Return 2.2%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $225 M
  • Holdings in Top 10 28.8%

52 WEEK LOW AND HIGH

$10.61
$9.64
$10.65

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.48%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover N/A

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification


Compare MSTVX to Popular Diversified Alternatives Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$10.00

0.00%

$5.61 B

2.09%

$0.21

-6.37%

2.79%

$9.42

-0.84%

$3.34 B

1.21%

$0.12

-2.28%

0.87%

$15.86

-0.06%

$2.86 B

2.23%

$0.36

3.59%

0.92%

$29.31

-1.51%

$2.82 B

5.39%

$1.60

-9.37%

2.19%

$10.20

-0.10%

$2.28 B

1.81%

$0.18

3.24%

1.29%

MSTVX - Profile

Distributions

  • YTD Total Return 2.2%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.45%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Morningstar Alternatives Fund
  • Fund Family Name
    Morningstar
  • Inception Date
    Nov 02, 2018
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Alexander Volz

Fund Description

In seeking long-term capital appreciation and low sensitivity to traditional U.S. asset classes, the fund allocates assets to strategies that provide alternative sources of return including (i) long/short macro strategies; (ii) long/short alpha strategies; (iii) merger arbitrage strategy; and (iv) convertible arbitrage strategy. It will normally invest in both U.S. and non-U.S. securities, including securities of companies located in emerging markets. The fund may invest in non-U.S. dollar denominated investments.


MSTVX - Performance

Return Ranking - Trailing

Period MSTVX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -28.7% 295.5% 22.68%
1 Yr 4.1% -30.0% 23.6% 17.87%
3 Yr N/A* -17.7% 9.7% N/A
5 Yr N/A* -10.3% 10.2% N/A
10 Yr N/A* -0.5% 5.3% N/A

* Annualized

Return Ranking - Calendar

Period MSTVX Return Category Return Low Category Return High Rank in Category (%)
2019 4.0% -10.2% 27.3% 59.48%
2018 N/A -20.8% 10.9% N/A
2017 N/A -12.4% 29.4% N/A
2016 N/A -10.5% 15.8% N/A
2015 N/A -22.0% 6.0% N/A

Total Return Ranking - Trailing

Period MSTVX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -28.7% 295.5% 22.68%
1 Yr 4.1% -30.0% 23.6% 15.12%
3 Yr N/A* -17.7% 9.7% N/A
5 Yr N/A* -10.3% 10.2% N/A
10 Yr N/A* -0.5% 5.3% N/A

* Annualized

Total Return Ranking - Calendar

Period MSTVX Return Category Return Low Category Return High Rank in Category (%)
2019 4.0% -10.2% 27.3% 60.22%
2018 N/A -20.8% 10.9% N/A
2017 N/A -8.4% 29.4% N/A
2016 N/A -5.9% 18.0% N/A
2015 N/A -22.0% 9.2% N/A

NAV & Total Return History


MSTVX - Holdings

Concentration Analysis

MSTVX Category Low Category High MSTVX % Rank
Net Assets 225 M 937 K 5.61 B 40.83%
Number of Holdings 2249 4 3106 3.81%
Net Assets in Top 10 55.2 M -80.3 M 2.32 B 51.21%
Weighting of Top 10 28.78% 8.3% 99.9% 85.59%

Top 10 Holdings

  1. Northern Institutional Treasury Premier 14.81%
  2. LogMeIn Inc 2.15%
  3. Morgan Stanley 1.80%
  4. E*TRADE Financial Corp 1.79%
  5. Federal Home Loan Mortgage Corporation 3% 1.68%
  6. Federal National Mortgage Association 3.5% 1.53%
  7. Charles Schwab Corp 1.52%
  8. TD Ameritrade Holding Corp 1.52%
  9. Legg Mason Inc 1.34%
  10. Tiffany & Co 1.15%

Asset Allocation

Weighting Return Low Return High MSTVX % Rank
Bonds
39.38% -448.46% 17034.14% 35.99%
Cash
31.27% -16955.40% 527.15% 44.64%
Convertible Bonds
24.72% 0.00% 80.56% 0.69%
Stocks
2.09% -12.15% 208.15% 87.54%
Preferred Stocks
1.71% -0.12% 52.62% 5.88%
Other
0.83% -13.24% 110.12% 67.13%

Bond Sector Breakdown

Weighting Return Low Return High MSTVX % Rank
Corporate
40.66% 0.00% 76.96% 8.30%
Cash & Equivalents
30.02% 1.64% 100.00% 64.36%
Securitized
20.38% 0.00% 87.39% 18.34%
Government
4.58% 0.00% 85.75% 66.44%
Derivative
4.36% 0.00% 89.73% 50.52%
Municipal
0.00% 0.00% 25.47% 80.62%

Bond Geographic Breakdown

Weighting Return Low Return High MSTVX % Rank
US
37.02% -68.77% 17003.70% 30.80%
Non US
2.36% -482.38% 83.05% 58.13%

MSTVX - Expenses

Operational Fees

MSTVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.48% 0.29% 31.15% 72.73%
Management Fee 0.85% 0.00% 2.50% 35.88%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.30% N/A

Sales Fees

MSTVX 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

MSTVX 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.

MSTVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 496.00% 48.30%

MSTVX - Distributions

Dividend Yield Analysis

MSTVX Category Low Category High MSTVX % Rank
Dividend Yield 0.00% 0.00% 4.00% 73.42%

Dividend Distribution Analysis

MSTVX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Semi-Annually Annually

Net Income Ratio Analysis

MSTVX Category Low Category High MSTVX % Rank
Net Income Ratio 2.45% -1.38% 6.83% 10.84%

Capital Gain Distribution Analysis

MSTVX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Dividend Payout History

View More +

MSTVX - Fund Manager Analysis

Managers

Alexander Volz


Start Date

Tenure

Tenure Rank

Nov 02, 2018

1.41

1.4%

Alexander W. Volz. Mr. Volz has been a Portfolio Manager and Convertible Trader of SSI Investment Management, Inc. since 2006 and was a Vice President and Convertible Trader for SSI Investment Management, Inc. from 2002 to 2006. Mr. Volz has 20 years of experience in portfolio management and/or convertible securities trading. Prior to joining SSI Investment Management, Inc., Mr. Volz was a Convertible Trader for Southern Trading Partners and Wachovia Securities from 1997 to 2002. Mr. Volz received a B.A., Economics from Vanderbilt University in 1996.

Marta Norton


Start Date

Tenure

Tenure Rank

Nov 02, 2018

1.41

1.4%

Marta Norton is a portfolio manager for Morningstar’s Investment Management group. She leads the group’s U.S. outcome-based strategies team, which focuses on inflation-plus, cash-plus, and income investment strategies. Previously, Norton was an investment manager for Morningstar Investment Services, where she managed asset allocation, income, and absolute return strategies. Before that, she was a senior mutual fund analyst for Morningstar, Inc. and led Morningstar’s 529 college-savings plan coverage. Before joining Morningstar in 2005, Norton was an economist for the Bureau of Labor Statistics and a research analyst for LECG, LLC. Norton holds a bachelor’s degree from Wheaton College. She also holds the Chartered Financial Analyst® designation.

Dagney Hollander


Start Date

Tenure

Tenure Rank

Nov 02, 2018

1.41

1.4%

Dagney Hollander is a portfolio manager at SSI and oversees the daily management of the Hedged Convertible investment portfolios. Her industry experience as a trading assistant, analyst and portfolio manager began since 2003. She received a BS in Finance, summa cum laude, from California State University, Northridge. She is a CFA Level III Candidate.

John Orrico


Start Date

Tenure

Tenure Rank

Nov 02, 2018

1.41

1.4%

John Orrico, CFA, serves as Chief Investment Officer of t Water Island Capital, LLC. Prior to organizing Water Island in January 2000, Mr. Orrico assisted in the management of private trusts and entities employing merger arbitrage strategies. Mr. Orrico received a Bachelor's degree from Georgetown University in 1982 – with a double major in Finance and International Management. He received the Chartered Financial Analyst designation in 1988.

George Douglas


Start Date

Tenure

Tenure Rank

Nov 02, 2018

1.41

1.4%

George M. Douglas, CFA—George Douglas is chief investment officer, managing principal, and portfolio manager of SSI Investment Management LLC. He is currently a portfolio manager of the Hedged Convertible strategies and oversees SSI’s quantitative research process. He is also a member of SSI’s executive committee. Prior to joining SSI, George was director of Quantitative Equity Investments and portfolio manager at CS First Boston Asset Management. He received a BS in Mathematics, MS in Statistics, and MBA from the University of Wisconsin.

Todd Munn


Start Date

Tenure

Tenure Rank

Nov 02, 2018

1.41

1.4%

Munn is a portfolio manager of Water Island Capital, LLC. Prior to becoming a portfolio manager of the Fund, Mr. Munn was a senior equity analyst for the Fund. Mr. Munn received a Master of Business Administration degree from Fordham Graduate School of Business in 2003 and a Bachelors degree from Gettysburg College in 1993 — with a double major in Finance and Accounting.

Roger Foltynowicz


Start Date

Tenure

Tenure Rank

Nov 02, 2018

1.41

1.4%

Roger Foltynowicz, CAIA, received a Master of Science degree from Pace University in 2006 – with a major in Investment Management – and a Bachelor's degree from Presbyterian College in 1999 – with a major in Business Administration.

Edward Fane


Start Date

Tenure

Tenure Rank

Nov 14, 2018

1.38

1.4%

Edward Fane, CFA. Edward Fane is a portfolio manager in the U.S. outcomes-orientated group for real return and income strategies in Morningstar's Investment Management Group. He is also the global asset class leader within the U.S. fixed income team. Fane is responsible for subadviser selection and oversight, allocating the Funds' assets to the subadvisers and any ETFs that are selected, constructing the portfolios to achieve desired asset class exposures including any residual cash, in addition to other portfolio management responsibilities. Prior to joining Morningstar's U.S. Investment Management Group in 2018, Fane was a member of Morningstar's European Investment Management Group, which he joined in 2014. There, he served as European lead for strategic bond and emerging market debt managers, and assumed the role of emerging market debt asset class lead for the global investment management business. Prior to joining Morningstar, Fane worked at Thesis Asset Management, where he helped to grow the institutional focused business and dedicated fund research department. His role covered private office and business-to-business relationships, as well as co-managing the firm's suite of multi-asset unit trusts. Fane led the fixed income fund research effort for Thesis Asset Management and sat on the fixed income asset allocation committee. Fane holds a BA (Hons) in Philosophy from Warwick University, UK, a Chartered Institute of Securities and Investment diploma and is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.24 16.87 4.41 3.25