TNMAX: 1290 Multi-Alternative Strategies A

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TNMAX 1290 Multi-Alternative Strategies A


Profile

TNMAX - Profile

Vitals

  • YTD Return -1.8%
  • 3 Yr Annualized Return -0.1%
  • 5 Yr Annualized Return N/A
  • Net Assets $18.3 M
  • Holdings in Top 10 74.3%

52 WEEK LOW AND HIGH

$10.09
$9.97
$10.36

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.89%

SALES FEES

  • Front Load 5.50%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 8.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA $500

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Multialternative

Distributions

  • YTD Total Return -1.8%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.12%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    1290 Multi-Alternative Strategies Fund
  • Fund Family Name
    1290 Funds
  • Inception Date
    Jul 06, 2015
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Kenneth Kozlowski

Fund Description

The fund pursues its investment objective by investing in exchange-traded securities of other investment companies or investment vehicles comprising various asset categories and strategies. Under normal market conditions, the fund allocates substantially all of its assets to Underlying ETFs that invest primarily in non-traditional (alternative) asset categories and strategies. The fund seeks to invest its assets among the Underlying ETFs to achieve a diversified exposure across multiple non-traditional (alternative) asset categories and strategies.


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Categories

Performance

TNMAX - Performance

Return Ranking - Trailing

Period TNMAX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.8% -14.8% 15.9% 64.61%
1 Yr -0.9% -39.2% 37.0% 84.20%
3 Yr -0.1%* -34.1% 11.3% 64.77%
5 Yr N/A* -37.3% 8.3% N/A
10 Yr N/A* -37.6% 15.4% N/A

* Annualized

Return Ranking - Calendar

Period TNMAX Return Category Return Low Category Return High Rank in Category (%)
2019 5.3% -50.4% 46.8% 85.12%
2018 -5.2% -31.8% 19.0% 12.54%
2017 3.5% -44.7% 46.3% 74.73%
2016 5.2% -84.5% 146.1% 32.52%
2015 N/A -40.7% 14.6% N/A

Total Return Ranking - Trailing

Period TNMAX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.8% -14.8% 15.9% 64.61%
1 Yr -0.9% -39.2% 37.0% 84.20%
3 Yr -0.1%* -34.1% 11.3% 83.87%
5 Yr N/A* -37.3% 8.4% N/A
10 Yr N/A* -37.6% 16.3% N/A

* Annualized

Total Return Ranking - Calendar

Period TNMAX Return Category Return Low Category Return High Rank in Category (%)
2019 5.3% -50.4% 46.8% 85.23%
2018 -5.2% -27.4% 19.0% 37.18%
2017 3.5% -44.7% 46.3% 89.15%
2016 5.2% -84.5% 146.1% 58.97%
2015 N/A -36.9% 14.6% N/A

NAV & Total Return History


Holdings

TNMAX - Holdings

Concentration Analysis

TNMAX Category Low Category High TNMAX % Rank
Net Assets 18.3 M 178 K 161 B 90.03%
Number of Holdings 20 2 13810 75.79%
Net Assets in Top 10 13.7 M -39.4 M 33.7 B 83.93%
Weighting of Top 10 74.25% 9.4% 100.0% 24.32%

Top 10 Holdings

  1. IQ Merger Arbitrage ETF 9.32%
  2. Invesco DB G10 Currency Harvest 9.31%
  3. ProShares Hedge Replication 9.08%
  4. WisdomTree Managed Futures Strategy ETF 8.94%
  5. JPMorgan Diversified Alternative ETF 8.91%
  6. SPDR® Blmbg Barclays Convert Secs ETF 8.84%
  7. Invesco DB Gold 6.38%
  8. iShares Core US REIT ETF 4.61%
  9. iShares TIPS Bond ETF 4.47%
  10. Vanguard Short-Term Infl-Prot Secs ETF 4.41%

Asset Allocation

Weighting Return Low Return High TNMAX % Rank
Stocks
30.84% -41.01% 78.71% 68.08%
Other
23.95% -41.44% 154.72% 4.12%
Cash
20.70% -102.09% 77.18% 13.74%
Bonds
15.52% -3.79% 78.41% 95.03%
Convertible Bonds
6.70% -0.84% 52.57% 6.98%
Preferred Stocks
2.30% 0.00% 44.10% 13.95%

Stock Sector Breakdown

Weighting Return Low Return High TNMAX % Rank
Real Estate
28.81% -2.05% 100.00% 3.41%
Technology
12.43% 0.00% 72.78% 67.51%
Industrials
11.40% 0.00% 99.44% 30.07%
Healthcare
10.93% 0.00% 61.80% 74.89%
Consumer Cyclical
9.76% 0.00% 37.12% 42.29%
Financial Services
6.44% 0.00% 67.69% 89.87%
Basic Materials
4.94% 0.00% 100.00% 11.89%
Consumer Defense
4.90% 0.00% 25.21% 78.41%
Energy
3.96% 0.00% 100.00% 65.97%
Communication Services
3.60% 0.00% 32.16% 81.17%
Utilities
2.84% 0.00% 100.00% 64.43%

Stock Geographic Breakdown

Weighting Return Low Return High TNMAX % Rank
US
25.86% -41.02% 77.06% 68.71%
Non US
4.98% -2.63% 32.14% 47.89%

Bond Sector Breakdown

Weighting Return Low Return High TNMAX % Rank
Cash & Equivalents
56.68% -3.87% 100.00% 4.65%
Government
17.22% -0.45% 97.80% 67.97%
Corporate
13.06% 0.00% 100.00% 84.04%
Derivative
13.03% -3.25% 55.67% 3.17%
Securitized
0.00% 0.00% 58.89% 85.10%
Municipal
0.00% 0.00% 99.77% 63.21%

Bond Geographic Breakdown

Weighting Return Low Return High TNMAX % Rank
US
15.40% -5.05% 84.24% 93.76%
Non US
0.12% -12.68% 26.09% 86.58%

Expenses

TNMAX - Expenses

Operational Fees

TNMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.89% 0.02% 18.45% 16.65%
Management Fee 0.50% 0.00% 2.00% 40.00%
12b-1 Fee 0.25% 0.00% 1.00% 30.59%
Administrative Fee 0.15% 0.01% 0.83% 56.23%

Sales Fees

TNMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.50% 1.00% 5.75% 42.86%
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

TNMAX 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.

TNMAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 8.00% 0.00% 574.00% 9.33%

Distributions

TNMAX - Distributions

Dividend Yield Analysis

TNMAX Category Low Category High TNMAX % Rank
Dividend Yield 0.00% 0.00% 9.83% 68.29%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

TNMAX Category Low Category High TNMAX % Rank
Net Income Ratio 1.12% -4.40% 6.65% 76.61%

Capital Gain Distribution Analysis

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

Dividend Payout History

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Fund Manager Analysis

TNMAX - Fund Manager Analysis

Managers

Kenneth Kozlowski


Start Date

Tenure

Tenure Rank

Jul 06, 2015

4.58

4.6%

Kenneth T. Kozlowski, CFP, CHFC, CLU has served as Executive Vice President and Chief Investment Officer of FMG LLC since June 2012 and as Senior Vice President of AXA Equitable Life Insurance and as Senior Vice President of FMG LLC since May 2011. He served as Vice President of AXA Equitable from February 2001 to August 2011. He has served as Vice President of the Trust from June 2010 to present. Since 2003, Mr. Kozlowski has had primary responsibility for the asset allocation, fund selection and rebalancing of the funds of funds currently managed by FMG LLC and for the ETF Allocated Portions since May 25, 2007 and for the Fund of Funds Portion of the EQ/Quality Bond PLUS Portfolio since October 26, 2010. Mr. Kozlowski served as Chief Financial Officer and Treasurer of the Trust from 2002 to 2007.

Xavier Poutas


Start Date

Tenure

Tenure Rank

Jul 06, 2015

4.58

4.6%

Xavier Poutas, CFA has served as an Assistant Portfolio Manager of FMG LLC since May 2011 and has served as Director of AXA Equitable since November 2008. He joined AXA Equitable’s Funds Management Group in October 2004 as a Fund Administrator and was involved in the implementation of the asset allocation strategy for the funds of funds currently managed by FMG LLC. Poutas has been a fund administrator since Oct. 2004. From November 2003 to September 2004, he served as Audit Manager of AXA Internal Audit, and from September 2002 to October 2003 he was a senior auditor with AXA Internal Audit. Prior to 2002, Poutas held several positions within the AXA Group. He is responsible for assisting in portfolio analysis and portfolio performance evaluation.

Alwi Chan


Start Date

Tenure

Tenure Rank

Jul 06, 2015

4.58

4.6%

Alwi Chan, CFA has served as Senior Vice President and Deputy Chief Investment Officer of FMG LLC since June 2012 and as Lead Director of AXA Equitable since February 2007. He served as Vice President of FMG LLC from May 2011 to June 2012. Prior to that, he served as an Assistant Vice President (2005-2007) and Senior Investment Analyst (2002-2005) of AXA Equitable. He also has served as Vice President of the Trust since 2007.

Miao Hu


Start Date

Tenure

Tenure Rank

Apr 13, 2016

3.8

3.8%

Miao Hu, CFA has served as an assistant portfolio manager of FMG LLC since April 2016. She has served as a Director of Portfolio Analytics of FMG LLC since December 2014. She joined AXA Equitable as a Lead Manager in November 2013. Prior to joining FMG LLC, she was an Associate Content Manager at Factset from January 2012 to November 2013.

Kevin McCarthy


Start Date

Tenure

Tenure Rank

Mar 01, 2019

0.92

0.9%

Kevin McCarthy has served as an Assistant Portfolio Manager of the Adviser and a Director of AXA Equitable since December 2018. He served as a Lead Manager of AXA Equitable from August 2015 to November 2018. He is manager of the asset allocation strategy for the funds of funds managed by FMG LLC. Prior to joining AXA Equitable, he was a Senior Quantitative Analyst at Aviva Investors from October 2013 to August 2015.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 39.11 6.66 0.08