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Trending ETFs

Catalyst Buffered Shield Fund

mutual fund
SHINX
Payout Change
Pending
Price as of:
$9.37 +0.0 +0.0%
primary theme
N/A
SHINX (Mutual Fund)

Catalyst Buffered Shield Fund

Payout Change
Pending
Price as of:
$9.37 +0.0 +0.0%
primary theme
N/A
SHINX (Mutual Fund)

Catalyst Buffered Shield Fund

Payout Change
Pending
Price as of:
$9.37 +0.0 +0.0%
primary theme
N/A

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

$9.37

$24.8 M

1.41%

$0.13

2.89%

Vitals

YTD Return

6.1%

1 yr return

12.6%

3 Yr Avg Return

1.0%

5 Yr Avg Return

4.5%

Net Assets

$24.8 M

Holdings in Top 10

106.8%

52 WEEK LOW AND HIGH

$9.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.89%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 32.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$2,500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 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

$9.37

$24.8 M

1.41%

$0.13

2.89%

SHINX - Profile

Distributions

  • YTD Total Return 6.1%
  • 3 Yr Annualized Total Return 1.0%
  • 5 Yr Annualized Total Return 4.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.67%
DIVIDENDS
  • Dividend Yield 1.4%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Catalyst Buffered Shield Fund
  • Fund Family Name
    AlphaCentric Funds
  • Inception Date
    Sep 05, 2017
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Joseph Halpern

Fund Description

Under normal market conditions, the Fund seeks to achieve its investment objective by investing in put and call options on exchange traded funds (“ETFs”) that track the S&P 500 Index (“Index ETFs”) and in fixed income securities. At time of purchase, the equity options component’s target allocation is between 0.5% and 7.5%, while the fixed income component’s target allocation is between 92.5% and 99.5%. The equity option component is designed to provide 100% notional exposure to the S&P 500 Index (the “Index”) with a level of hedge on the downside and participation on the upside to a certain cap. Using a combination of put and call options on Index ETFs, the Fund’s investment sub-advisor, Exceed Advisory LLC (the “Sub-Advisor”) initially executes the equity options strategy by seeking to provide an investment vehicle that limits losses to 12.5% when the Index declines in value, and to participate in increases in the Index up to approximately 15%. As the Index increases in value, the strategy seeks to increase the level of hedge on the downside and the cap on the upside by rebalancing or rolling the call and put strike levels in a given maturity to higher strike levels. By rebalancing, the strategy seeks to optimize risk / reward by lowering downside risk (through buying higher strike puts) and increasing upside potential (through selling higher strike calls), thus converting a hard cap to a soft cap. There may be times that the Sub-Advisor determines not to implement the Fund’s hedging strategy.

The fixed income component is designed to return a yield that is used to assist in purchasing the equity option component. The equity options strategy is intended to provide investment returns that are correlated with, but less volatile than, those of the Index. Although the option strategy includes a leverage component, the strategy also limits the Fund’s participation in Index gains.

Equity Options Component

The equity options strategy consists of exchange traded equity options. Options selected for the equity component generally have a duration of approximately one year.

Put Options Sub-Component

Put options allow the purchaser, for a premium, to “put” a security to the seller of the option at a strike price. Put options are selected for the Fund to target participation in the Index if the Index decreases down to a maximum floor of 12.5% by selecting a short put whose strike price equals the current value of the Index and a long put whose strike price is below the current value of the Index. The Fund’s purchases and sales of put options result in “put spreads,” which are intended to allow the Fund to mitigate losses in the equity options component when the Index declines by more than 12.5% during the terms of the put spreads. The put spreads do not guard the Fund against Index losses in the equity options component of less than 12.5%, and only seeks to guard against such losses during the terms of the put spreads. All other losses in the equity options component will be borne by the Fund and shareholders. There is no guarantee that the put spreads will limit the losses in the equity options component to 12.5%. Put options do not protect against losses in the fixed income component of the Fund’s strategy.

Call Options Sub-Component

Call options allow the purchaser, for a premium, to “call” away a security from the seller of the option at a particular price, called the “strike price.” Normally, a buyer calls away a security at the strike price if the security’s market price is greater than the strike price. The call options are selected to target participation in the Index if the Index increases up to a maximum cap by selecting a long call whose strike price equals the current value of the Index and a short call whose strike price is above the current value of the Index. In this way, the Fund seeks to participate with the market up to the maximum cap. The Fund’s purchases and sales of call options result in “call spreads,” which are intended to allow the Fund to participate in increases in the Index up to approximately 15% during the terms of the call spreads.

The objective of the call options is to provide market participation up to the maximum cap while the objective of the put options is to provide a floor to negative performance and thereby limit exposure in a materially bearish environment. However, there is no guarantee that put and call options will limit the Fund’s losses in the equity options component.

Fixed Income Component

The fixed income component of the Fund’s portfolio consists of domestic short to medium term, investment grade, fixed coupon, senior or subordinated corporate bonds, and government securities with a typical maturity of 5 years or less, or ETFs that invest primarily in such securities. The Fund typically invests primarily in corporate debt. Fixed income securities are selected by identifying the highest yielding securities among a peer group with similar credit quality and maturity while also ensuring portfolio diversification in terms of credit rating and industry.

Although the Fund’s strategy seeks to provide protection for large losses in the equity portion of the portfolio, an investor can still lose money on the fixed income portion such that the total loss in the portfolio as a whole could be more than the targeted 12.5%.

The Fund actively trades its portfolio investments, which may lead to higher transaction costs that may affect the Fund’s performance.

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SHINX - Performance

Return Ranking - Trailing

Period SHINX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.1% -2.8% 240.8% 40.32%
1 Yr 12.6% -4.3% 140.6% 75.65%
3 Yr 1.0%* -8.3% 18.3% 57.69%
5 Yr 4.5%* -5.0% 17.3% 47.46%
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period SHINX Return Category Return Low Category Return High Rank in Category (%)
2023 11.2% -34.1% 904.0% 51.80%
2022 -19.0% -28.6% 438.4% 38.15%
2021 -4.0% -93.5% 8.2% 82.07%
2020 4.6% -38.9% 19.8% N/A
2019 12.7% -10.9% 12.8% N/A

Total Return Ranking - Trailing

Period SHINX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.1% -2.7% 244.0% 41.11%
1 Yr 12.6% -4.3% 140.6% 72.61%
3 Yr 1.0%* -8.3% 18.3% 52.56%
5 Yr 4.5%* -5.4% 17.3% 43.22%
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Total Return Ranking - Calendar

Period SHINX Return Category Return Low Category Return High Rank in Category (%)
2023 12.9% -34.1% 904.0% 51.80%
2022 -19.0% -5.9% 438.4% 38.73%
2021 13.2% -81.2% 8.2% 88.97%
2020 6.2% -29.0% 19.8% N/A
2019 18.5% -10.9% 12.8% N/A

NAV & Total Return History


SHINX - Holdings

Concentration Analysis

SHINX Category Low Category High SHINX % Rank
Net Assets 24.8 M 25 17.4 B 57.30%
Number of Holdings 24 2 508 20.99%
Net Assets in Top 10 24.7 M -6.66 M 5.12 B 54.96%
Weighting of Top 10 106.80% 11.3% 100.0% 25.33%

Top 10 Holdings

  1. ISHR 1-5Y INV GR 33.00%
  2. VANGUARD-S/T COR 28.33%
  3. PGIM ULTRA SHORT 26.26%
  4. SPY US 06/21/24 C440 5.87%
  5. SPY US 09/20/24 C425 4.77%
  6. FIRST AM-TR OB-X 2.65%
  7. SPY US 03/21/25 C515 2.15%
  8. SPY US 12/20/24 C515 1.83%
  9. SPY US 06/21/24 C420 1.42%
  10. SPY US 03/21/25 P475 0.53%

Asset Allocation

Weighting Return Low Return High SHINX % Rank
Stocks
87.59% -3.92% 100.76% 88.17%
Other
9.71% 0.00% 45.92% 8.78%
Convertible Bonds
6.65% 0.00% 20.91% 3.44%
Cash
2.70% -0.76% 100.29% 20.23%
Preferred Stocks
0.00% 0.00% 3.08% 9.54%
Bonds
0.00% 0.00% 97.96% 6.49%

Stock Sector Breakdown

Weighting Return Low Return High SHINX % Rank
Utilities
0.00% 0.00% 13.35% 24.37%
Technology
0.00% 0.00% 44.43% 23.11%
Real Estate
0.00% 0.00% 9.74% 19.33%
Industrials
0.00% 1.41% 43.91% 79.83%
Healthcare
0.00% 0.00% 25.91% 13.45%
Financial Services
0.00% 0.00% 29.60% 83.19%
Energy
0.00% 0.00% 69.54% 44.96%
Communication Services
0.00% 0.00% 21.22% 60.08%
Consumer Defense
0.00% 0.00% 22.87% 26.05%
Consumer Cyclical
0.00% 0.00% 19.02% 79.83%
Basic Materials
0.00% 0.00% 60.58% 77.73%

Stock Geographic Breakdown

Weighting Return Low Return High SHINX % Rank
US
87.59% -3.89% 100.00% 78.63%
Non US
0.00% -2.17% 99.33% 86.64%

SHINX - Expenses

Operational Fees

SHINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.89% 0.20% 6.78% 7.00%
Management Fee 1.25% 0.20% 1.75% 92.16%
12b-1 Fee 1.00% 0.00% 1.00% 88.51%
Administrative Fee N/A 0.02% 0.28% N/A

Sales Fees

SHINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.75% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

SHINX 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.

SHINX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 32.00% 0.00% 456.80% 86.61%

SHINX - Distributions

Dividend Yield Analysis

SHINX Category Low Category High SHINX % Rank
Dividend Yield 1.41% 0.00% 3.76% 13.38%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

SHINX Category Low Category High SHINX % Rank
Net Income Ratio -0.67% -2.54% 14.24% 59.43%

Capital Gain Distribution Analysis

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

Distributions History

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SHINX - Fund Manager Analysis

Managers

Joseph Halpern


Start Date

Tenure

Tenure Rank

Apr 14, 2015

7.13

7.1%

Mr. Halpern is the Chief Executive Officer and Portfolio Manager of Exceed. He founded Exceed Advisory in 2013. Since May 2017, Mr. Halpern has also held various roles at Fountainhead Capital Management, LLC (FCM), Fountainhead AM, LLC (FAM) and Fountainhead Retirement Services, LLC, (FRS) each an affiliated registered investment advisor (RIA). Mr. Halpern has served as Chief Compliance Officer at FCM and FAM as of February 2018 and FRS as of April 2019. Mr. Halpern has served as Chief Investment Officer of FAM since May 2017. Mr. Halpern has also served as a Senior Advisor to OmegaPoint Research, Inc. a Fintech company providing an advanced portfolio intelligence engine and separately, provided expert witness consulting on derivative-related legal matters since April 2018. From Dec. 2016 to June 2017, he was a Portfolio Manager of Catalyst. From 2010 to founding Exceed Advisory in 2013, Mr. Halpern was a director at Lamco, the asset management division of Lehman Brothers Holdings Inc. where he managed the exotic derivatives commodities book, was chief negotiator on a number of global bank settlements and was a lead member of a task force on structured products. Between 2007 and 2010, Mr. Halpern was Director on the Equity Derivatives Trading desk of ING Financial Markets (“ING”), a global financial institution. From 2006 to 2007, Mr. Halpern was SVP of Strategy and Risk for Kellogg Capital Group’s derivatives division. From 2002 to 2006, Mr. Halpern was a partner at Halpern Capital, a boutique investment bank focusing on investment banking and trading services in addition to providing independent research to institutional clients. Mr. Halpern began his career in 1996 as a derivatives trader at Letco Specialists, which has since been acquired by TD Securities, and became its youngest partner before leaving in 2002. Mr. Halpern has a BS from New York University, Stern School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 19.77 3.61 5.67