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Trending ETFs

Eventide Core Bond Fund

mutual fund
ETARX
Payout Change
Pending
Price as of:
$8.24 +0.0 +0.0%
primary theme
U.S. Intermediate-Term Bond Duration
ETARX (Mutual Fund)

Eventide Core Bond Fund

Payout Change
Pending
Price as of:
$8.24 +0.0 +0.0%
primary theme
U.S. Intermediate-Term Bond Duration
ETARX (Mutual Fund)

Eventide Core Bond Fund

Payout Change
Pending
Price as of:
$8.24 +0.0 +0.0%
primary theme
U.S. Intermediate-Term Bond Duration

Name

As of 06/14/2024

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

$8.24

$114 M

3.13%

$0.26

1.06%

Vitals

YTD Return

-0.1%

1 yr return

2.9%

3 Yr Avg Return

-3.4%

5 Yr Avg Return

N/A

Net Assets

$114 M

Holdings in Top 10

18.0%

52 WEEK LOW AND HIGH

$8.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.06%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

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

$8.24

$114 M

3.13%

$0.26

1.06%

ETARX - Profile

Distributions

  • YTD Total Return -0.1%
  • 3 Yr Annualized Total Return -3.4%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.51%
DIVIDENDS
  • Dividend Yield 3.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Eventide Core Bond Fund
  • Fund Family Name
    AlphaCentric Funds
  • Inception Date
    Jul 31, 2020
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Dolores Bamford

Fund Description

The Fund seeks to achieve its objective through investments in income-producing securities issued by entities deemed by the Adviser to be serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly. Income producing securities that the Fund may invest in include, but are not limited to, corporate bonds; preferred stocks, convertible debt and other hybrid securities that have debt and equity characteristics but are predominantly debt in nature; agency and non-agency residential and commercial mortgage-backed securities; asset-backed securities (including auto loans and leases, equipment loans and leases, and credit cards); green bonds (i.e., bonds that allow issuers to use proceeds for environmental projects); social bonds (i.e., bonds that allow issuers to use proceeds for social projects); sustainable bonds (i.e., bonds that are a combination of green and social bonds); government agency debt instruments; and municipal bonds (collectively, “Bonds”). Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in Bonds.

The Fund may invest in Bonds of any maturity and, under normal market conditions, the Bonds held by the Fund have a weighted average duration between three years and nine years. Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a security’s price to changes in interest rates. Effective duration is a measure of the Fund’s portfolio duration adjusted for the anticipated effect of interest rate changes on bond and mortgage pre-payment rates. The longer a security’s duration, the more sensitive it will be to changes in interest rates. The more sensitive a security is to changes in interest rates, the higher its volatility risk. For example, if a bond has a duration of 5 years, a 1% rise in rates would result in approximately a 5% decline in the bond’s price. If a bond has a duration of 10 years, a 1% rise in interest rates would result in approximately a 10% decline in the bond’s price. The Fund invests predominantly in investment grade securities. With respect to both fixed income and equity securities, the Fund may invest in the securities of foreign entities and may invest in companies of any market capitalization.

Eventide uses its values-based screening process to analyze all potential investments for the company’s ability to operate with integrity and create value for customers, employees, and other stakeholders by reflecting the values described below. Eventide’s ethical values are inspired by the Christian faith and rooted in a biblical worldview. While few companies may reach these ideals in every area of their business, these principles articulate the Adviser’s highest expectations for the companies in which the Fund invests. The Adviser uses its values-based screening processes in connection with other fundamental research processes to establish the Fund’s eligible investment universe. Securities are generally ineligible for purchase within the Fund’s portfolio unless the Adviser believes that the values-based screens are met. The Adviser’s screening process for potential investments does not apply relative weights between values-based factors and financial factors. There is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles which help to guide the Adviser’s research and investment framework. Specifically, the Adviser seeks to invest in companies that reflect the following values:

Respecting the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling, pornography, tobacco, and alcohol.
Demonstrating a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding products and services that promote weapons production and proliferation.
Promoting family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.
Exhibiting responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated by a company’s record regarding litigation, regulatory actions against the company, and its record of providing products and services that improve the lives of people.
Practicing environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.

Consistent with the Adviser’s values, the Fund may invest in securities that fund community development institutions and serve needs such as those of low-to-moderate income families and communities.

Investments that meet the Adviser’s values criteria are analyzed by the Fund’s investment sub-adviser, Boyd Watterson Asset Management, LLC (the “Sub-Adviser”) for possible inclusion in the Fund’s portfolio. The Sub-Adviser builds the Fund’s portfolio based on macroeconomic trends and forecasts in economic growth, inflation expectations, and monetary policy. The Sub-Adviser strives to generate excess return through sector allocation (adjusting allocations across major sectors of the bond market based on assessments of fundamentals and current versus historical valuation relationships), duration management (holding securities to optimize interest rates), yield curve positioning (adjusting holdings to capitalize on expected changes in the Treasury yield curve), and security selection. The ability of the Sub-Adviser to deliver returns varies according to the economic and market environment. The Sub-Adviser’s methods are intended to accumulate value over a full market cycle.

Securities may be sold when the Adviser or the Sub-Adviser believes that they no longer represent relatively attractive investment opportunities or when the Adviser believes the underlying company’s practices are no longer consistent with the Adviser’s values.

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ETARX - Performance

Return Ranking - Trailing

Period ETARX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -4.5% 5.2% 85.73%
1 Yr 2.9% -7.2% 12.7% 82.76%
3 Yr -3.4%* -10.8% 26.7% 77.94%
5 Yr N/A* -7.1% 191.4% N/A
10 Yr N/A* -2.5% 73.8% 6.67%

* Annualized

Return Ranking - Calendar

Period ETARX Return Category Return Low Category Return High Rank in Category (%)
2023 2.2% -16.2% 8.1% 43.64%
2022 -15.3% -34.7% 131.9% 29.03%
2021 -3.3% -11.6% 4.4% 46.82%
2020 N/A -10.1% 946.1% N/A
2019 N/A -1.7% 16.9% N/A

Total Return Ranking - Trailing

Period ETARX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.1% -4.5% 5.2% 85.73%
1 Yr 2.9% -7.2% 12.7% 82.76%
3 Yr -3.4%* -10.8% 26.7% 77.94%
5 Yr N/A* -7.1% 191.4% N/A
10 Yr N/A* -2.5% 73.8% 26.02%

* Annualized

Total Return Ranking - Calendar

Period ETARX Return Category Return Low Category Return High Rank in Category (%)
2023 4.9% -11.3% 11.0% 86.57%
2022 -13.6% -32.2% 131.9% 50.52%
2021 -2.6% -9.4% 9.2% 94.93%
2020 N/A -1.9% 1009.0% N/A
2019 N/A 1.1% 21668.0% N/A

NAV & Total Return History


ETARX - Holdings

Concentration Analysis

ETARX Category Low Category High ETARX % Rank
Net Assets 114 M 2.9 M 314 B 88.24%
Number of Holdings 95 1 17816 95.37%
Net Assets in Top 10 23.4 M 1.57 M 34.8 B 89.83%
Weighting of Top 10 17.99% 4.4% 132.5% 70.27%

Top 10 Holdings

  1. US BANK MMDA - USBGFS 9 2.04%
  2. FHLMC 6 1/4 07/15/32 1.97%
  3. JPM 6.07 10/22/27 1.96%
  4. FNMA 6 1/4 05/15/29 1.93%
  5. FN MA4355 1.90%
  6. FN MA4805 1.77%
  7. MS 0.864 10/21/25 1.66%
  8. FR RA7587 1.60%
  9. FR SD8288 1.59%
  10. FR SD8238 1.57%

Asset Allocation

Weighting Return Low Return High ETARX % Rank
Bonds
95.62% 0.00% 211.59% 50.15%
Convertible Bonds
4.00% 0.00% 7.93% 4.36%
Cash
2.63% -54.51% 87.74% 51.26%
Other
1.75% -16.94% 53.20% 65.16%
Stocks
0.00% 0.00% 99.99% 70.65%
Preferred Stocks
0.00% 0.00% 74.98% 68.28%

Bond Sector Breakdown

Weighting Return Low Return High ETARX % Rank
Corporate
55.62% 0.00% 100.00% 6.19%
Securitized
20.73% 0.00% 98.40% 81.03%
Government
14.21% 0.00% 86.23% 76.17%
Municipal
5.61% 0.00% 100.00% 8.01%
Cash & Equivalents
2.04% 0.00% 83.04% 54.28%
Derivative
0.00% -9.72% 50.66% 72.81%

Bond Geographic Breakdown

Weighting Return Low Return High ETARX % Rank
US
95.62% 0.00% 211.59% 46.32%
Non US
0.00% 0.00% 33.48% 72.41%

ETARX - Expenses

Operational Fees

ETARX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.06% 0.01% 39.10% 23.89%
Management Fee 0.34% 0.00% 1.76% 43.85%
12b-1 Fee 0.25% 0.00% 1.00% 43.88%
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

ETARX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 2.00% 5.75% 0.73%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

ETARX 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.

ETARX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 2.00% 493.39% N/A

ETARX - Distributions

Dividend Yield Analysis

ETARX Category Low Category High ETARX % Rank
Dividend Yield 3.13% 0.00% 10.11% 91.36%

Dividend Distribution Analysis

ETARX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly SemiAnnual Quarterly Quarterly

Net Income Ratio Analysis

ETARX Category Low Category High ETARX % Rank
Net Income Ratio 0.51% -1.28% 4.79% 96.18%

Capital Gain Distribution Analysis

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

Distributions History

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ETARX - Fund Manager Analysis

Managers

Dolores Bamford


Start Date

Tenure

Tenure Rank

Jul 31, 2020

1.83

1.8%

Dolores Bamford, CFA, serves as Director of Investment Research and Portfolio Manager for the Eventide Multi-Asset Income Fund, the Eventide Dividend Opportunities Fund, the Eventide Limited-Term Bond Fund, and the Eventide Core Bond Fund. Ms. Bamford has over 25 years of investment experience. Prior to joining Eventide in 2019, she was with Goldman Sachs Asset Management for 13 years (2002-2015), most recently as Managing Director and Portfolio Manager on U.S. Value Equity. She also led Goldman Sachs’s U.S. Responsible Equity investments and co-led the Global Sustain Equity investments. Previously, she was with Putnam Investments for 10 years (1992-2002), where she served as Senior Vice President and Portfolio Manager and Analyst on multiple value investments. Before that, she was with Fidelity Investments (1988-1990), where she served in investment research. Ms. Bamford holds an S.M. in Management from the MIT Sloan School of Management, a dual-M.A. in Theology and Church History from Gordon-Conwell Theological Seminary, and a B.A. in Economics from Wellesley College. She is a CFA Charterholder and member of the Boston Society of Security Analysts.

David Dirk


Start Date

Tenure

Tenure Rank

Jul 31, 2020

1.83

1.8%

David M. Dirk, CFA, is Director of Portfolio Management and Trading. David joined Duff & Phelps Investment Management Co., predecessor to Boyd Watterson, in 1996. David holds a CFA Charter from CFA Institute, an MBA from Case Western Reserve University, and a BA from Baldwin Wallace University. He is also a member of the CFA Society of Cleveland and CFA Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.78 1.16