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Cromwell Long Short Fund
mutual fund
MFADX
Payout Change
Pending
Price as of:
$23.47
-0.08
-0.34%
primary theme
Long-Short Equity
share class
MFADX (Mutual Fund)
Cromwell Long Short Fund
Payout Change
Pending
Price as of:
$23.47
-0.08
-0.34%
primary theme
Long-Short Equity
share class
MFADX (Mutual Fund)
Cromwell Long Short Fund
Payout Change
Pending
Price as of:
$23.47
-0.08
-0.34%
primary theme
Long-Short Equity
share class
Name
As of 12/10/2024Price
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
Vitals
YTD Return
8.7%
1 yr return
12.5%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$130 M
Holdings in Top 10
35.2%
52 WEEK LOW AND HIGH
$23.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 2.20%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 26.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,000
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
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
MFADX - Profile
Distributions
- YTD Total Return 8.7%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.08%
- Dividend Yield 2.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameCromwell Long Short Fund
-
Fund Family NameCromwell Funds
-
Inception DateJul 31, 2007
-
Shares OutstandingN/A
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Aronstein
Fund Description
The Fund seeks capital appreciation while trying to achieve lower volatility than the broad equity market.
To achieve the Fund’s investment objective, Mutual of America Capital Management, LLC (“MoA” or “Sub-Adviser”), employs a long/short strategy and allocates the Fund’s assets by primarily investing in large and mid-capitalization equity securities. Under normal market conditions, the Sub-Adviser expects to maintain the Fund’s long positions in a range between 80% to 100% of net assets, and its short positions at approximately 20% of net assets, which may range between 10% to 30%, consistent with the Sub-Adviser’s expectations of investment opportunities within the equity market.
The Sub-Adviser primarily utilizes fundamental and quantitative research to construct the Fund’s portfolio. Generally, long positions are held in companies that the Sub-Adviser believes to be undervalued or have superior growth potential relative to its peers, while short positions are held in companies where the opposite is true, or to capture a specific risk identified in the market.
The Fund’s equity securities investments may include common stocks of United States companies of any size, but the Sub-Adviser expects to invest in long and short positions primarily in the large and mid-capitalization segments of the equity market.
The Fund will engage in short sales of securities for hedging purposes and to profit from an anticipated decline in the price of the securities sold short.
The asset allocation strategies utilized by the Sub-Adviser will apply a quantitative screen to prioritize investment opportunities for further fundamental analysis. This quantitative and research-driven process will be applied to both the long and short investment positions of the fund. The Sub-Adviser may select growth stocks or value stocks as it deems appropriate.
The Sub-Adviser may sell a security once it believes it has achieved its expected return or if it believes there are superior investment opportunities available. The Sub-Adviser may also sell securities if its thesis about the security changes or it needs to make portfolio adjustments to stay within portfolio construction guidelines. The Sub-Adviser may cover the short sale of a security once it has achieved its expected return or it believes there are superior investment opportunities available. The Portfolio Managers have a collaborative approach to ensure the construction of a diversified portfolio, while prioritizing the potential for higher returns and minimizing unwanted risks.
MFADX - Performance
Return Ranking - Trailing
| Period | MFADX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.7% | -11.9% | 43.9% | 67.35% |
| 1 Yr | 12.5% | -11.4% | 49.0% | 63.27% |
| 3 Yr | N/A* | -8.1% | 25.4% | 20.48% |
| 5 Yr | N/A* | -2.6% | 23.5% | 3.38% |
| 10 Yr | N/A* | -4.0% | 11.2% | 72.31% |
* Annualized
Return Ranking - Calendar
| Period | MFADX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -2.4% | -17.3% | 43.8% | 87.76% |
| 2022 | N/A | -54.0% | 17.4% | 36.53% |
| 2021 | N/A | -40.0% | 54.1% | 16.77% |
| 2020 | N/A | -47.6% | 88.4% | 34.21% |
| 2019 | N/A | -20.3% | 62.6% | 82.99% |
Total Return Ranking - Trailing
| Period | MFADX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 8.7% | -11.9% | 43.9% | 67.35% |
| 1 Yr | 12.5% | -11.4% | 49.0% | 63.27% |
| 3 Yr | N/A* | -8.1% | 25.4% | 22.56% |
| 5 Yr | N/A* | -2.6% | 23.5% | 6.85% |
| 10 Yr | N/A* | -4.0% | 11.2% | 70.77% |
* Annualized
Total Return Ranking - Calendar
| Period | MFADX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -0.3% | -14.5% | 43.8% | 93.88% |
| 2022 | N/A | -54.0% | 50.3% | 36.53% |
| 2021 | N/A | -40.0% | 61.6% | 16.77% |
| 2020 | N/A | -29.9% | 91.0% | 34.21% |
| 2019 | N/A | -17.9% | 79.4% | 84.35% |
NAV & Total Return History
MFADX - Holdings
Concentration Analysis
| MFADX | Category Low | Category High | MFADX % Rank | |
|---|---|---|---|---|
| Net Assets | 130 M | 1.08 M | 6.67 B | 44.90% |
| Number of Holdings | 132 | 3 | 2730 | 42.86% |
| Net Assets in Top 10 | 33.6 M | -4.86 M | 2.41 B | 64.63% |
| Weighting of Top 10 | 35.18% | -9.9% | 110.8% | 68.71% |
Top 10 Holdings
- Microsoft Corp 7.36%
- NVIDIA Corp 6.63%
- Apple Inc 4.01%
- Alphabet Inc 3.86%
- Amazon.com Inc 3.61%
- JPMorgan Chase Co 2.27%
- Visa Inc 2.16%
- Costco Wholesale Corp 1.81%
- UnitedHealth Group Inc 1.74%
- Mastercard Inc 1.74%
Asset Allocation
| Weighting | Return Low | Return High | MFADX % Rank | |
|---|---|---|---|---|
| Stocks | 85.21% | -0.13% | 113.26% | 23.13% |
| Cash | 14.79% | 0.00% | 109.95% | 64.63% |
| Preferred Stocks | 0.00% | -1.13% | 6.36% | 22.45% |
| Other | 0.00% | -57.63% | 99.50% | 46.94% |
| Convertible Bonds | 0.00% | -0.02% | 4.48% | 14.39% |
| Bonds | 0.00% | 0.00% | 108.68% | 34.01% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MFADX % Rank | |
|---|---|---|---|---|
| Basic Materials | 28.58% | 0.00% | 28.58% | 0.85% |
| Industrials | 25.12% | 0.00% | 31.93% | 3.39% |
| Energy | 21.10% | 0.00% | 32.57% | 1.69% |
| Consumer Cyclical | 6.84% | 0.00% | 88.83% | 83.90% |
| Consumer Defense | 4.73% | 0.00% | 19.75% | 67.80% |
| Technology | 4.71% | 0.00% | 43.24% | 90.68% |
| Financial Services | 3.73% | 0.00% | 83.83% | 92.37% |
| Real Estate | 2.57% | 0.00% | 10.93% | 34.75% |
| Healthcare | 1.50% | 0.00% | 100.00% | 97.46% |
| Communication Services | 0.61% | 0.00% | 32.32% | 93.22% |
| Utilities | 0.52% | 0.00% | 21.71% | 68.64% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MFADX % Rank | |
|---|---|---|---|---|
| US | 85.21% | 0.00% | 113.26% | 19.73% |
| Non US | 0.00% | -2.95% | 54.79% | 30.61% |
MFADX - Expenses
Operational Fees
| MFADX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 2.20% | 0.42% | 9.95% | 46.26% |
| Management Fee | 1.40% | 0.00% | 2.50% | 71.43% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 30.77% |
| Administrative Fee | N/A | 0.03% | 1.54% | N/A |
Sales Fees
| MFADX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | 53.13% |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| MFADX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.50% | 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.
| MFADX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 26.00% | 0.00% | 446.00% | 19.47% |
MFADX - Distributions
Dividend Yield Analysis
| MFADX | Category Low | Category High | MFADX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.99% | 0.00% | 27.22% | 42.47% |
Dividend Distribution Analysis
| MFADX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Annual | Annual |
Net Income Ratio Analysis
| MFADX | Category Low | Category High | MFADX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.08% | -3.33% | 2.16% | 24.83% |
Capital Gain Distribution Analysis
| MFADX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 27, 2023 | $0.468 | OrdinaryDividend |
| Dec 28, 2022 | $0.097 | OrdinaryDividend |
MFADX - Fund Manager Analysis
Managers
Michael Aronstein
Start Date
Tenure
Tenure Rank
Jul 31, 2007
14.84
14.8%
Michael C. Aronstein is President, Chief Investment Officer and a co-founding partner of Marketfield Asset Management, LLC (and its predecessor firm, which was created in 2007). Mr. Aronstein began his investment career in 1979 at Merrill Lynch, eventually becoming Manager of Global Investment Strategy before departing in 1987 to join Comstock Partners. Mr. Aronstein was the President of Comstock Partners for six years. In 1993, Mr. Aronstein founded West Course Capital, a discretionary commodity management firm. From 2001 to 2004, Mr. Aronstein was Chief Investment Strategist for Preservation Group, a provider of independent macroeconomic and strategic research to professional investors. In 2004, he joined Oscar Gruss & Son Incorporated and served as Chief Investment Strategist until 2012. Mr. Aronstein graduated from Yale College with a Bachelor of Arts in 1974.
Michael Shaoul
Start Date
Tenure
Tenure Rank
Apr 08, 2016
6.15
6.2%
Michael Shaoul, Ph.D. is Chairman, Chief Executive Officer and a co-founding partner of Marketfield Asset Management LLC (and its predecesor firm, which was created in 2007). In 1996 Mr. Shaoul joined Oscar Gruss & Son Incorporated. He became its Chief Executive Officer in 2001 and held this position until 2014. He is Treasurer of American Friends of Tel Aviv University and a member of the Board of North American Friends of Manchester University. He was awarded a Ph.D. in Accounting and Finance from the University of Manchester (UK) in 1992.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.07 | 23.55 | 5.96 | 7.93 |
