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Eventide Balanced Fund

mutual fund
ETCMX
Payout Change
Pending
Price as of:
$13.69 -0.07 -0.51%
primary theme
U.S. Balanced Allocation
ETCMX (Mutual Fund)

Eventide Balanced Fund

Payout Change
Pending
Price as of:
$13.69 -0.07 -0.51%
primary theme
U.S. Balanced Allocation
ETCMX (Mutual Fund)

Eventide Balanced Fund

Payout Change
Pending
Price as of:
$13.69 -0.07 -0.51%
primary theme
U.S. Balanced Allocation

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

Eventide Balanced Fund

ETCMX | Fund

$13.69

$358 M

0.92%

$0.13

1.90%

Vitals

YTD Return

4.9%

1 yr return

12.9%

3 Yr Avg Return

1.6%

5 Yr Avg Return

7.1%

Net Assets

$358 M

Holdings in Top 10

24.9%

52 WEEK LOW AND HIGH

$13.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.90%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 73.00%

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

Eventide Balanced Fund

ETCMX | Fund

$13.69

$358 M

0.92%

$0.13

1.90%

ETCMX - Profile

Distributions

  • YTD Total Return 4.9%
  • 3 Yr Annualized Total Return 1.6%
  • 5 Yr Annualized Total Return 7.1%
  • Capital Gain Distribution Frequency Quarterly
  • Net Income Ratio -0.21%
DIVIDENDS
  • Dividend Yield 0.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Eventide Balanced Fund
  • Fund Family Name
    AlphaCentric Funds
  • Inception Date
    Jul 15, 2015
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Dirk

Fund Description

The Fund has significant flexibility to achieve its investment objective by primarily investing in a broad universe of income-producing securities. These securities include debt and equity securities of companies in the U.S. and other markets around the world. The Fund’s investments in foreign securities may be made without limitation, directly or through American Depository Receipts (“ADRs”).

The Fund uses a balanced strategy allocating approximately equally between equity income and fixed income with a bottom-up quality investing and secular theme focus seeking to achieve consistent returns and lower volatility than the markets. There is no guarantee that the Fund will achieve this goal. The Fund’s balanced strategy means that equity investments do not typically represent more than 50% of the Fund’s portfolio. The Fund’s balanced strategy also means that the Fund invests at least 25% of its assets in equity securities and at least 25% of its assets in fixed income securities. The Fund is focused on identifying and investing in companies capable of increasing profitability, growth, and income distribution by serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly. The Fund has broad discretion to invest in securities in the pursuit of the Fund’s objectives. These securities may include but are not limited to common stocks, yieldcos (dividend growth-oriented public companies created by a parent company, which bundles renewable and/or conventional long-term contracted operating assets in order to generate cash flow), real estate investment trusts (“REITs”), master limited partnerships (“MLPs”), preferred stocks, corporate bonds, government agency bonds, municipal bonds, mortgage-backed securities, asset-backed securities (including auto loans and leases, equipment loans and leases, and credit cards); convertible securities and options. The Fund may invest in a particular type of security without limitation but limits its investment in a particular industry and in MLPs to less than 25% of the Fund’s net assets. The Fund may invest in companies of any market capitalization. The Fund may invest in bonds of any maturity and, under normal market conditions, the bonds held in the Fund’s portfolio have an average duration of between two and eight years. The Fund may invest in bonds of any credit quality, including, without limitation, non-investment grade bonds rated below Baa3 by Moody’s or below BBB- by S&P (also known as “junk” bonds). The Fund may invest up to 15% of its net assets in companies whose securities may have legal or contractual restrictions on resale or are otherwise illiquid.

The Fund’s investment adviser, Eventide Asset Management, LLC (“Eventide” or the “Adviser”), utilizes a fundamental “bottom-up” analysis to evaluate investments for inclusion in the Fund’s portfolio. The Adviser seeks to invest in attractively valued securities that, in its opinion, represent above-average long-term investment opportunities or have significant near-term appreciation potential. The Adviser favors investments that it believes will have relatively low correlation or volatility to the overall market. The Adviser seeks to invest in securities that, in its opinion, are attractively valued, provide attractive current income, provide income appreciation potential, provide capital appreciation potential, and/or help to reduce overall portfolio volatility.

The Adviser may use options, such as puts or calls on individual securities, as well as options on securities indices, to enhance returns, generate income, to reduce portfolio volatility, or to reduce downside risk when the Adviser believes prudent. To enhance income, the Adviser has the ability to sell call options on stocks held in the portfolio (covered call writing). In exchange for the option premium received, the Fund gives up potential upside in the underlying stock. The Adviser also has the ability to write put options on stocks deemed to be attractive purchases at lower price levels. The Adviser may also utilize a combination of puts and/or calls regarding the same security (sometimes referred to as “straddles,” “collars” or “spreads”) or utilize puts and calls on related securities.

The Adviser has retained Boyd Watterson Asset Management, LLC (the “Sub-Adviser”) to manage some of the Fund’s assets allocated for investment in the fixed income portion of the Fund’s portfolio. In selecting securities for investment by the Fund, the Sub-Adviser employs a top-down approach to determine how to structure the bond allocation taking into consideration duration, maturity, and sector allocation. The Sub-Adviser then initiates a process of security analysis based on several factors including, but not limited to, economic trends, industry assessments and issuer specific credit fundamentals.

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.

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

Distribution Policy. The Fund’s distribution policy is to make approximately twelve distributions to shareholders per calendar year. The frequency of distributions is based on the availability of distributable income and the investment needs of the Fund. The level of periodic distributions (including any return of capital) is not fixed and is not designed to generate, and is not expected to result in, distributions that equal a fixed percentage of the Fund’s current net asset value per share. Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital. Shareholders should not assume that the Fund’s distribution rate or the source of a distribution from the Fund is net profit. For more information about the Fund’s distribution policy, please turn to “Additional Information About Each Fund’s Principal Investment Strategies and Related Risks – Principal Investment Strategies - Distribution Policy and Goals.”

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ETCMX - Performance

Return Ranking - Trailing

Period ETCMX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.9% 0.3% 33.8% 62.55%
1 Yr 12.9% -2.0% 61.3% 38.72%
3 Yr 1.6%* -7.0% 10.9% 64.96%
5 Yr 7.1%* -4.3% 15.7% 48.96%
10 Yr N/A* 0.4% 10.6% N/A

* Annualized

Return Ranking - Calendar

Period ETCMX Return Category Return Low Category Return High Rank in Category (%)
2023 10.2% -12.2% 23.9% 53.99%
2022 -17.7% -34.7% 2.8% 41.82%
2021 9.6% -11.9% 18.1% 20.96%
2020 15.6% -20.9% 39.7% 4.40%
2019 16.2% 0.8% 25.7% 24.23%

Total Return Ranking - Trailing

Period ETCMX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.9% 0.3% 33.8% 62.55%
1 Yr 12.9% -2.0% 61.3% 38.72%
3 Yr 1.6%* -7.0% 10.9% 64.96%
5 Yr 7.1%* -4.3% 15.7% 48.96%
10 Yr N/A* 0.4% 10.6% N/A

* Annualized

Total Return Ranking - Calendar

Period ETCMX Return Category Return Low Category Return High Rank in Category (%)
2023 11.1% -12.2% 26.8% 80.48%
2022 -16.1% -29.0% 10.9% 71.49%
2021 15.2% -3.0% 27.3% 26.80%
2020 17.3% -19.5% 40.6% 14.60%
2019 18.7% 2.2% 32.7% 64.62%

NAV & Total Return History


ETCMX - Holdings

Concentration Analysis

ETCMX Category Low Category High ETCMX % Rank
Net Assets 358 M 789 K 217 B 69.73%
Number of Holdings 157 2 15947 39.89%
Net Assets in Top 10 94.3 M 596 K 67.8 B 77.35%
Weighting of Top 10 24.95% 11.3% 121.1% 79.63%

Top 10 Holdings

  1. US BANK MMDA - USBGFS 9 3.53%
  2. NVENT ELECTRIC 3.15%
  3. TRANE TECHNOLOGI 2.95%
  4. CDW CORP/DE 2.67%
  5. ROPER TECHNOLOGI 2.58%
  6. KLA CORP 2.33%
  7. FERGUSON PLC 2.21%
  8. ARTHUR J GALLAGH 2.03%
  9. SYNOPSYS INC 1.82%
  10. LITHIA MOTORS 1.68%

Asset Allocation

Weighting Return Low Return High ETCMX % Rank
Stocks
52.03% 0.00% 100.06% 82.91%
Bonds
43.64% 0.00% 77.51% 8.26%
Convertible Bonds
5.41% 0.00% 23.84% 5.02%
Cash
3.56% -7.92% 100.00% 26.92%
Other
1.48% -42.80% 112.46% 18.52%
Preferred Stocks
0.00% 0.00% 23.15% 69.66%

Stock Sector Breakdown

Weighting Return Low Return High ETCMX % Rank
Industrials
19.49% 0.00% 24.37% 2.16%
Real Estate
18.64% 0.00% 65.01% 3.45%
Utilities
14.28% 0.00% 99.55% 3.17%
Financial Services
11.87% 0.00% 38.77% 86.76%
Healthcare
9.34% 0.00% 29.35% 87.63%
Technology
9.25% 0.00% 44.21% 92.37%
Energy
8.83% 0.00% 85.65% 10.22%
Basic Materials
3.54% 0.00% 33.35% 66.47%
Consumer Cyclical
3.46% 0.00% 19.36% 92.37%
Consumer Defense
1.31% 0.00% 15.14% 97.12%
Communication Services
0.00% 0.00% 38.10% 98.42%

Stock Geographic Breakdown

Weighting Return Low Return High ETCMX % Rank
US
52.03% 0.00% 100.06% 79.20%
Non US
0.00% 0.00% 39.69% 71.08%

Bond Sector Breakdown

Weighting Return Low Return High ETCMX % Rank
Corporate
62.87% 0.00% 98.21% 11.62%
Securitized
18.25% 0.00% 92.13% 48.35%
Government
9.66% 0.00% 97.26% 84.79%
Cash & Equivalents
3.56% 0.00% 99.92% 26.64%
Municipal
2.85% 0.00% 24.80% 5.60%
Derivative
0.00% -2.92% 43.22% 68.80%

Bond Geographic Breakdown

Weighting Return Low Return High ETCMX % Rank
US
43.64% 0.00% 77.51% 8.26%
Non US
0.00% 0.00% 11.88% 64.53%

ETCMX - Expenses

Operational Fees

ETCMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.90% 0.03% 17.63% 10.91%
Management Fee 0.60% 0.00% 1.83% 72.56%
12b-1 Fee 1.00% 0.00% 1.00% 92.58%
Administrative Fee N/A 0.01% 0.83% 52.85%

Sales Fees

ETCMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load 1.00% 1.00% 5.00% 70.83%

Trading Fees

ETCMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

ETCMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 73.00% 0.00% 343.00% 77.66%

ETCMX - Distributions

Dividend Yield Analysis

ETCMX Category Low Category High ETCMX % Rank
Dividend Yield 0.92% 0.00% 17.90% 90.66%

Dividend Distribution Analysis

ETCMX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Annual

Net Income Ratio Analysis

ETCMX Category Low Category High ETCMX % Rank
Net Income Ratio -0.21% -2.34% 19.41% 95.65%

Capital Gain Distribution Analysis

ETCMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Quarterly Annually Monthly Annually

Distributions History

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ETCMX - Fund Manager Analysis

Managers

David Dirk


Start Date

Tenure

Tenure Rank

Jul 15, 2015

6.88

6.9%

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.

Dolores Bamford


Start Date

Tenure

Tenure Rank

May 01, 2019

3.08

3.1%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 34.51 6.36 2.41