WCEIX: WCM Alternatives: Event-Driven Fund - MutualFunds.com
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WCM Alternatives Event-Driven Instl

WCEIX - Snapshot

Vitals

  • YTD Return 2.9%
  • 3 Yr Annualized Return 7.6%
  • 5 Yr Annualized Return 6.1%
  • Net Assets $260 M
  • Holdings in Top 10 32.6%

52 WEEK LOW AND HIGH

$11.67
$8.72
$11.83

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.10%

SALES FEES

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

BROKERAGE FEES

  • Turnover 238.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000,000
  • IRA N/A

Fund Classification

Compare WCEIX to Popular Diversified Alternatives Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

Blackstone Alternative Multi-Strategy Fund

Fund

$10.27

+0.10%

$5.29 B

3.12%

$0.32

0.29%

-

Goldman Sachs Absolute Return Tracker Fund

Fund

$10.03

+0.50%

$3.47 B

0.10%

$0.01

1.11%

-

BlackRock Systematic Multi-Strategy Fund

Fund

$10.14

-0.10%

$3.26 B

1.30%

$0.13

0.40%

-

BNY Mellon Global Real Return Fund

Fund

$16.70

+0.48%

$3.20 B

1.39%

$0.23

0.78%

-

Catalyst/Millburn Hedge Strategy Fund

Fund

$31.62

+0.99%

$2.63 B

3.86%

$1.21

2.46%

-

WCEIX - Profile

Distributions

  • YTD Total Return 2.9%
  • 3 Yr Annualized Total Return 7.6%
  • 5 Yr Annualized Total Return 6.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.52%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    WCM Alternatives: Event-Driven Fund
  • Fund Family Name
    Westchester Capital
  • Inception Date
    Jan 02, 2014
  • Shares Outstanding
    20797908
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Michael Shannon

Fund Description

The fund primarily employs investment strategies designed to capture price movements generated by specific events, including, but not limited to, equity and/or debt securities of companies involved in mergers, acquisitions, asset sales or other divestitures, restructurings, refinancings, recapitalizations, reorganizations or other special situations (referred to as "event-driven opportunities").

WCEIX - Performance

Return Ranking - Trailing

Period WCEIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -5.3% 5.7% 6.08%
1 Yr 6.5% -22.2% 29.0% 23.10%
3 Yr 7.6%* -14.6% 12.7% 4.60%
5 Yr 6.1%* -7.1% 11.6% 9.48%
10 Yr N/A* -0.6% 6.3% 83.99%

* Annualized

Return Ranking - Calendar

Period WCEIX Return Category Return Low Category Return High Rank in Category (%)
2020 3.3% -22.7% 305.1% 39.72%
2019 8.6% -9.8% 27.3% 21.51%
2018 -0.3% -20.8% 10.9% 4.55%
2017 3.6% -12.4% 29.4% 51.89%
2016 2.1% -10.5% 15.8% 29.50%

Total Return Ranking - Trailing

Period WCEIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -5.3% 5.7% 5.41%
1 Yr 6.5% -22.2% 29.0% 19.66%
3 Yr 7.6%* -14.6% 12.7% 4.60%
5 Yr 6.1%* -7.1% 11.6% 8.62%
10 Yr N/A* -0.6% 6.3% 91.88%

* Annualized

Total Return Ranking - Calendar

Period WCEIX Return Category Return Low Category Return High Rank in Category (%)
2020 3.3% -22.7% 305.1% 39.72%
2019 8.6% -9.8% 27.3% 21.51%
2018 -0.3% -20.8% 10.9% 5.37%
2017 3.6% -8.4% 29.4% 68.87%
2016 2.1% -10.2% 18.0% 43.00%

NAV & Total Return History

WCEIX - Holdings

Concentration Analysis

WCEIX Category Low Category High WCEIX % Rank
Net Assets 260 M 1.4 M 5.29 B 40.56%
Number of Holdings 242 4 4377 53.22%
Net Assets in Top 10 63 M -91.4 M 2.69 B 49.83%
Weighting of Top 10 32.55% 12.6% 100.0% 81.74%

Top 10 Holdings

  1. ALTABA INC ORD SHS ESCROW 8.61%
  2. ALTABA INC ORD SHS ESCROW 8.61%
  3. ALTABA INC ORD SHS ESCROW 8.61%
  4. ALTABA INC ORD SHS ESCROW 8.61%
  5. ALTABA INC ORD SHS ESCROW 8.61%
  6. ALTABA INC ORD SHS ESCROW 8.61%
  7. ALTABA INC ORD SHS ESCROW 8.61%
  8. ALTABA INC ORD SHS ESCROW 8.61%
  9. ALTABA INC ORD SHS ESCROW 8.61%
  10. ALTABA INC ORD SHS ESCROW 8.61%

Asset Allocation

Weighting Return Low Return High WCEIX % Rank
Stocks 		58.43% -24.27% 93.70% 11.53%
Bonds 		17.85% -419.77% 9482.07% 66.78%
Preferred Stocks 		5.28% -0.12% 45.43% 2.71%
Convertible Bonds 		0.00% 0.00% 87.02% 88.47%
Cash 		-0.01% -9406.09% 494.28% 83.05%
Other 		-1.97% -3.65% 131.41% 96.61%

Stock Sector Breakdown

Weighting Return Low Return High WCEIX % Rank
Financial Services 		42.14% 0.00% 56.07% 2.92%
Technology 		15.18% 0.00% 100.00% 70.80%
Communication Services 		11.60% 0.00% 23.22% 18.61%
Healthcare 		9.56% 0.00% 51.14% 71.53%
Consumer Cyclical 		6.13% 0.00% 29.68% 91.24%
Energy 		6.12% 0.00% 100.00% 11.31%
Industrials 		4.01% 0.00% 20.60% 88.32%
Basic Materials 		3.61% 0.00% 25.11% 59.12%
Utilities 		0.96% 0.00% 37.26% 86.13%
Consumer Defense 		0.69% 0.00% 22.32% 95.26%
Real Estate 		0.00% 0.00% 78.90% 98.18%

Stock Geographic Breakdown

Weighting Return Low Return High WCEIX % Rank
US 		55.58% -15.91% 91.88% 2.37%
Non US 		2.85% -23.77% 36.98% 65.76%

Bond Sector Breakdown

Weighting Return Low Return High WCEIX % Rank
Corporate 		93.88% 0.00% 93.88% 0.68%
Municipal 		5.60% 0.00% 26.35% 1.69%
Cash & Equivalents 		0.48% 0.27% 100.00% 98.98%
Securitized 		0.03% 0.00% 89.57% 58.64%
Derivative 		0.00% 0.00% 91.28% 93.22%
Government 		0.00% 0.00% 81.58% 96.61%

Bond Geographic Breakdown

Weighting Return Low Return High WCEIX % Rank
US 		16.29% -121.02% 3035.20% 61.69%
Non US 		1.56% -528.06% 6446.87% 61.02%

WCEIX - Expenses

Operational Fees

WCEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.10% 0.29% 31.15% 45.33%
Management Fee 1.25% 0.00% 2.50% 71.14%
12b-1 Fee N/A 0.00% 1.00% 17.97%
Administrative Fee N/A 0.01% 0.30% N/A

Sales Fees

WCEIX 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

WCEIX 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.

WCEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 238.00% 0.00% 491.00% 83.14%

WCEIX - Distributions

Dividend Yield Analysis

WCEIX Category Low Category High WCEIX % Rank
Dividend Yield 0.00% 0.00% 2.13% 72.48%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

WCEIX Category Low Category High WCEIX % Rank
Net Income Ratio 0.52% -1.93% 6.83% 63.67%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

WCEIX - Fund Manager Analysis

Managers

Michael Shannon

Start Date

Tenure

Tenure Rank

Jan 02, 2014

7.0

7.0%

Mr. Shannon has served as Co-President of the Adviser since 2011 and also serves as Co-President and a Trustee of each Fund. Mr. Shannon served as Westchester’s Director of Research from May 1996 until April 2005. From April 2005 to April 2006, Mr. Shannon was Senior Vice President in charge of the Special Situations and Mergers Group of D.E. Shaw & Co. Mr. Shannon returned to Westchester in May 2006 as a research analyst and portfolio strategist and has served as a portfolio manager for The Merger Fund since January 2007, for WCM Alternatives: Event-Driven Fund since it commenced investment operations in January 2014, and for WCM Alternatives: Credit Event Fund since it commenced investment operations in January 2018. He received a B.S. in Finance from Boston Colleg.

Roy Behren

Start Date

Tenure

Tenure Rank

Jan 02, 2014

7.0

7.0%

Roy D. Behren, born 1960, came to WCM in 1994 from the U.S. Securities and Exchange Commission. After earning a B.S. in Economics at The Wharton School, he received a J.D. degree from the University of Miami Law School and a LL.M. degree in corporate law from the New York University School Of Law. He then joined the SEC's New York Regional Office, where he worked as an enforcement attorney for seven years prior to starting his investment career at WCM. From 2004 through 2006, Roy served as a member of Redback Networks’ Board of Directors and its Audit Committee. He is a co-portfolio manager of The Merger Fund®, The Merger Fund VL and the Dunham Monthly Distribution Fund and is currently the Chief Compliance Officer for WCM, The Merger Fund®and The Merger Fund VL.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 17.12 4.3 3.51

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