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Trending ETFs

Catalyst/Millburn Dynamic Commodity Strategy Fund

mutual fund
DCXIX
Payout Change
Pending
Price as of:
$9.9 +0.0 +0.0%
primary theme
Commodity
DCXIX (Mutual Fund)

Catalyst/Millburn Dynamic Commodity Strategy Fund

Payout Change
Pending
Price as of:
$9.9 +0.0 +0.0%
primary theme
Commodity
DCXIX (Mutual Fund)

Catalyst/Millburn Dynamic Commodity Strategy Fund

Payout Change
Pending
Price as of:
$9.9 +0.0 +0.0%
primary theme
Commodity

Name

As of 10/03/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.90

$10.6 M

0.00%

3.07%

Vitals

YTD Return

6.9%

1 yr return

8.1%

3 Yr Avg Return

5.9%

5 Yr Avg Return

1.3%

Net Assets

$10.6 M

Holdings in Top 10

50.4%

52 WEEK LOW AND HIGH

$9.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 3.07%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 145.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$2,500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/03/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.90

$10.6 M

0.00%

3.07%

DCXIX - Profile

Distributions

  • YTD Total Return 6.9%
  • 3 Yr Annualized Total Return 5.9%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.72%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Catalyst/Millburn Dynamic Commodity Strategy Fund
  • Fund Family Name
    Mutual Fund Series Trust
  • Inception Date
    Sep 30, 2015
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Barry Goodman

Fund Description

The Fund seeks to achieve its investment objective by investing in a portfolio comprised of exposures to:

Futures and options on futures (the “Futures Component”); and
Common stocks (the “Equity Component”)

Futures Component. The Futures Component allocates among metals, energy, emission rights, agricultural, and other natural or industrial resource commodities using proprietary signals from Millburn Ridgefield Corporation (the “Sub-Advisor”). The Futures Component generally holds long and/or short positions or swaps on futures contracts or indices (directly or indirectly), but may also hold long positions in options on futures contracts or indices, and maintains cash and cash equivalents to be utilized as margin or collateral. The strategy is intended to provide long-term, strategic exposure to global commodity markets, while allowing for adjustments based on shorter-term market conditions. Investments may be made long or short in domestic and foreign markets, including emerging markets. Investment in these instruments may be made directly or indirectly by investing through the Fund’s Subsidiary (as described below). The Fund invests up to 60% of its assets in the Futures Component, of which approximately 80% is expected to be in cash, cash equivalents, short and medium-term U.S. treasury bills, notes and bonds (including inflation-linked instruments) and exchange-traded funds that primarily invest in treasury instruments (including inflation-linked instruments); and approximately 20% is expected to be in collateral (including cash, cash equivalents, short-term U.S. treasury bills, notes and bonds)for futures positions. The

Sub-Advisor utilizes active, proprietary trading systems to determine allocations subject to pre-determined ranges (the net assets in the Futures Component are allocated among positions with a face value ranging from a net minimum 50% (short) to a net maximum 150% (long) of standard capital allocations to each traded market). The Sub-Advisor’s trading systems generate buy or sell decisions 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 and supply/demand measures). The trading systems analyze these factors over a time spectrum that ranges from several minutes to multiple years. The Sub-Advisor analyzes additional factors to allocate the portfolio including, but not limited to: profitability of an asset class or market, liquidity of a particular market, desired diversification among markets and asset classes, transaction costs, and exchange regulations. The allocations are generally reviewed monthly, although changes may occur more or less frequently.

Equity Component. The Equity Component allocates among common stocks, exchange-traded funds (“ETFs”) that primarily invest in common stocks, and swaps on these instruments. These are selected by the Sub-Advisor based on diversification value, liquidity, and other criteria. The Equity Component is intended to provide long-term, strategic exposure to a number of U.S. and international equity markets and securities in sectors related to: commodities, commodities brokerage, agriculture, farmland, timber, utilities, infrastructure, natural resources, and renewable resources. Securities may be of any market capitalization, sector and geographic location (including emerging markets). The Fund invests up to 60% of its assets in the Equity Component. Equity Component investments are made on a long-only 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 commodity-related futures and options on futures. The Subsidiary is subject to the same investment restrictions as the Fund, when viewed on a consolidated basis.

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DCXIX - Performance

Return Ranking - Trailing

Period DCXIX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.9% -21.4% 34.5% 64.89%
1 Yr 8.1% -46.2% 51.8% 25.95%
3 Yr 5.9%* -43.2% 280.6% 35.66%
5 Yr 1.3%* -27.6% 135.8% 93.65%
10 Yr N/A* -26.5% 47.7% N/A

* Annualized

Return Ranking - Calendar

Period DCXIX Return Category Return Low Category Return High Rank in Category (%)
2023 -7.2% -64.0% 30.1% 38.93%
2022 -2.7% -40.8% 2475.6% 60.00%
2021 0.4% -23.3% 106.7% 63.57%
2020 -10.5% -71.9% 295.5% 80.95%
2019 3.8% -31.8% 53.9% 74.40%

Total Return Ranking - Trailing

Period DCXIX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.9% -21.4% 34.5% 64.89%
1 Yr 8.1% -46.2% 51.8% 25.95%
3 Yr 5.9%* -43.2% 280.6% 35.66%
5 Yr 1.3%* -27.6% 135.8% 93.65%
10 Yr N/A* -26.5% 47.7% N/A

* Annualized

Total Return Ranking - Calendar

Period DCXIX Return Category Return Low Category Return High Rank in Category (%)
2023 -7.2% -64.0% 41.1% 64.89%
2022 18.6% -15.1% 5648.8% 26.92%
2021 0.4% -23.3% 188.1% 84.50%
2020 -10.5% -67.8% 296.1% 81.75%
2019 3.8% -31.8% 53.9% 83.20%

NAV & Total Return History


DCXIX - Holdings

Concentration Analysis

DCXIX Category Low Category High DCXIX % Rank
Net Assets 10.6 M 2.34 M 62.8 B 93.08%
Number of Holdings 233 1 1009 26.72%
Net Assets in Top 10 5.26 M 2.66 M 63.2 B 95.42%
Weighting of Top 10 50.37% 17.2% 169.5% 78.74%

Top 10 Holdings

  1. FIRST AM-TR OB-X 21.74%
  2. T 2 1/4 11/15/24 7.44%
  3. T 2 3/8 08/15/24 6.31%
  4. T 1 1/2 02/15/25 6.07%
  5. FARMLAND PARTNER 1.73%
  6. GLADSTONE LAND C 1.67%
  7. CBOE GLOBAL MARK 1.51%
  8. INTERCONTINENTAL 1.48%
  9. CME GROUP INC 1.37%
  10. PRYSMIAN SPA 1.03%

Asset Allocation

Weighting Return Low Return High DCXIX % Rank
Stocks
47.31% 0.00% 49.31% 3.82%
Cash
31.59% 0.00% 101.92% 44.96%
Bonds
19.83% 0.00% 127.91% 54.20%
Other
1.27% -7.17% 100.19% 53.49%
Preferred Stocks
0.00% 0.00% 0.08% 26.36%
Convertible Bonds
0.00% 0.00% 3.89% 51.56%

Stock Sector Breakdown

Weighting Return Low Return High DCXIX % Rank
Utilities
27.00% 0.00% 27.00% 7.69%
Industrials
23.28% 0.00% 23.28% 7.69%
Real Estate
13.82% 0.00% 13.82% 7.69%
Financial Services
13.67% 0.00% 13.67% 7.69%
Basic Materials
10.41% 0.00% 47.41% 38.46%
Consumer Cyclical
3.41% 0.00% 3.41% 7.69%
Technology
2.77% 0.00% 2.77% 7.69%
Energy
2.01% 0.00% 33.64% 76.92%
Consumer Defense
1.90% 0.00% 12.04% 38.46%
Healthcare
1.73% 0.00% 1.73% 7.69%
Communication Services
0.00% 0.00% 100.00% 53.85%

Stock Geographic Breakdown

Weighting Return Low Return High DCXIX % Rank
US
29.26% 0.00% 32.22% 3.88%
Non US
18.05% 0.00% 28.00% 3.88%

Bond Sector Breakdown

Weighting Return Low Return High DCXIX % Rank
Government
32.47% 0.00% 100.00% 33.04%
Cash & Equivalents
21.74% 0.00% 100.00% 51.72%
Derivative
1.27% -7.17% 100.19% 13.79%
Securitized
0.00% 0.00% 36.61% 53.04%
Corporate
0.00% 0.00% 42.72% 59.13%
Municipal
0.00% 0.00% 1.45% 34.78%

Bond Geographic Breakdown

Weighting Return Low Return High DCXIX % Rank
US
19.83% 0.00% 116.12% 55.04%
Non US
0.00% 0.00% 12.98% 30.23%

DCXIX - Expenses

Operational Fees

DCXIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.07% 0.21% 5.23% 3.96%
Management Fee 1.75% 0.00% 1.75% 98.74%
12b-1 Fee 0.00% 0.00% 1.00% 6.90%
Administrative Fee N/A 0.02% 0.45% N/A

Sales Fees

DCXIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

DCXIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 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.

DCXIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 145.00% 0.00% 162.00% 95.56%

DCXIX - Distributions

Dividend Yield Analysis

DCXIX Category Low Category High DCXIX % Rank
Dividend Yield 0.00% 0.00% 19.94% 76.10%

Dividend Distribution Analysis

DCXIX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Monthly Annual

Net Income Ratio Analysis

DCXIX Category Low Category High DCXIX % Rank
Net Income Ratio -1.72% -55.71% 52.26% 93.75%

Capital Gain Distribution Analysis

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

Distributions History

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DCXIX - Fund Manager Analysis

Managers

Barry Goodman


Start Date

Tenure

Tenure Rank

Jun 01, 2021

1.0

1.0%

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

Jun 01, 2021

1.0

1.0%

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

Jun 01, 2021

1.0

1.0%

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
0.33 17.03 6.1 11.51