Arena Strategic Income Fund
Name
As of 04/23/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
2.1%
1 yr return
10.2%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$5.3 M
Holdings in Top 10
35.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 11.40%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 196.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$4,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/23/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
ACSIX - Profile
Distributions
- YTD Total Return 2.1%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.26%
- Dividend Yield 7.9%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameArena Strategic Income Fund
-
Fund Family NameINVESTMENT MANAGERS SERIES TRUST II
-
Inception DateDec 30, 2022
-
Shares Outstanding81361
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
Fund Description
Under normal market conditions, the Fund intends to primarily invest at least 75% of its net assets (plus any borrowings for investment purposes) in income producing investments and leveraged loans. The Fund intends to invest in debt securities, leveraged loans, equity and equity-linked securities and obligations of the U.S. Government and government-sponsored entities. The Fund intends to invest in high-yield debt securities (commonly known as “junk bonds”). High-yield debt securities are fixed- or floating-rate securities rated below BBB by Standard & Poor’s (“S&P”) or Fitch Ratings, Inc. (“Fitch”), or below Baa by Moody’s Investor Service, Inc. (“Moody’s”) or, if unrated, determined to be of comparable quality by the Fund’s advisor. The Fund’s investments in debt securities may include notes, bonds, certificates and debentures, which are the most common types of corporate debt securities, bank loans, and other corporate debt instruments. The Fund may also invest in money market funds for cash management purposes. The Fund may also invest in equity and equity-linked securities to seek returns and to manage certain investment risks. The Fund’s investments in equity securities include common stock, convertible debt, convertible preferred, warrants and rights. The Fund’s investments in equity securities includes companies of any size including small, mid, and large capitalization companies. While the Fund invests primarily in U.S. issuers, it may also invest in securities of foreign issuers.
While the Fund may purchase debt securities of any maturity, under normal market conditions, the Fund will generally invest in securities that have an expected remaining maturity within the short term (three years or less), but the Fund may also invest, to a lesser extent, in securities with an expected redemption within the intermediate term (five to ten years). The Fund typically invests in securities with a weighted average portfolio effective duration of 36 months or less. Duration measures how changes in interest rates affect the value of a fixed income security. For example, a three-year duration means that the fixed income security will decrease in value by 3% if either interest rates rise and/or credit spreads rise by 1% or increase in value by 3% if either interest rates fall and/or credit spreads fall by 1%. Higher duration indicates debt instruments that are more sensitive to interest rate changes. Debt instruments with shorter duration are typically less sensitive to interest rate changes.
The Fund’s advisor’s investment process begins with idea generation, and the advisor utilizes a variety of sources including market news, analysts’ reviews of sectors, and proprietary screening models for these ideas. The advisor then screens a broad universe of short duration investments through the use of its proprietary evaluation analytics, which are designed to evaluate and rate potential investments for quality and risk and to identify companies with attractive valuations relative to net asset value. These evaluation analytics take into account a number of factors, including ratings, company
balance sheet metrics, liquidity and interest rate sensitivity and exposure. After screening, the advisor then conducts fundamental analysis to identify potential investments that the advisor believes are profitable and undervalued, and that offer a balance of risk and return opportunities for the Fund. The advisor’s fundamental analysis also seeks to limit risk and volatility within the Fund’s portfolio. The Fund will invest in a portfolio of securities typically spread across many economic sectors although from time to time the Fund may have a significant portion of its assets in one or more market sectors. The Fund intends to engage in opportunistic and active trading.
The Fund’s advisor may sell all or a portion of a position when, in its opinion, one or more of the following occurs, or any other reason: (i) the issuer’s fundamentals deteriorate; (ii) the reason(s) for maintaining the position are no longer valid; (iii) the advisor’s view of the business fundamentals or management of the underlying company changes; (iv) a more attractive investment opportunity is found; (v) for other portfolio management reasons; or (vi) the Fund requires cash to meet redemption requests.
ACSIX - Performance
Return Ranking - Trailing
Period | ACSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.1% | -2.3% | 12.5% | 95.85% |
1 Yr | 10.2% | -1.1% | 44.9% | 96.17% |
3 Yr | N/A* | -13.2% | 27.1% | N/A |
5 Yr | N/A* | -2.1% | 106.4% | 99.66% |
10 Yr | N/A* | 2.4% | 20.4% | 99.39% |
* Annualized
Return Ranking - Calendar
Period | ACSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.7% | -42.6% | 47.4% | 78.48% |
2022 | N/A | -56.3% | -4.2% | N/A |
2021 | N/A | -27.2% | 53.7% | N/A |
2020 | N/A | -36.2% | 2181.7% | N/A |
2019 | N/A | -22.7% | 40.4% | 66.52% |
Total Return Ranking - Trailing
Period | ACSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.1% | -2.3% | 12.5% | 95.85% |
1 Yr | 10.2% | -1.1% | 44.9% | 96.17% |
3 Yr | N/A* | -13.2% | 27.1% | N/A |
5 Yr | N/A* | -2.1% | 106.4% | 99.65% |
10 Yr | N/A* | 2.4% | 20.4% | 99.63% |
* Annualized
Total Return Ranking - Calendar
Period | ACSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.9% | -5.0% | 47.4% | 88.24% |
2022 | N/A | -36.8% | -2.2% | N/A |
2021 | N/A | 3.0% | 124.3% | N/A |
2020 | N/A | -15.8% | 2266.0% | N/A |
2019 | N/A | -0.4% | 241.3% | 80.11% |
NAV & Total Return History
ACSIX - Holdings
Concentration Analysis
ACSIX | Category Low | Category High | ACSIX % Rank | |
---|---|---|---|---|
Net Assets | 5.3 M | 2.34 M | 1.55 T | 99.45% |
Number of Holdings | 61 | 1 | 4053 | 69.42% |
Net Assets in Top 10 | 2.03 M | 885 K | 387 B | 99.14% |
Weighting of Top 10 | 35.05% | 0.3% | 112.0% | 43.57% |
Top 10 Holdings
- Fidelity Government Portfolio - Class Institutional 12.59%
- QVC, Inc. 2.88%
- Icahn Enterprises LP / Icahn Enterprises Finance Corp. 2.83%
- Uber Technologies, Inc. 2.76%
- LSF9 Atlantis Holdings LLC / Victra Finance Corp. 2.49%
- Directv Financing LLC / Directv Financing Co.-Obligor, Inc. 2.38%
- AP Core Holdings II LLC 2.37%
- Diebold Nixdorf, Inc. 2.32%
- Manitowoc Co., Inc. 2.24%
- StoneX Group, Inc. 2.18%
Asset Allocation
Weighting | Return Low | Return High | ACSIX % Rank | |
---|---|---|---|---|
Bonds | 87.91% | -0.50% | 93.78% | 0.24% |
Cash | 12.68% | 0.00% | 99.06% | 0.94% |
Stocks | 1.89% | 0.00% | 124.03% | 99.14% |
Preferred Stocks | 0.00% | 0.00% | 2.38% | 52.59% |
Convertible Bonds | 0.00% | 0.00% | 5.54% | 50.08% |
Other | -2.05% | -13.91% | 100.00% | 99.84% |
Stock Sector Breakdown
Weighting | Return Low | Return High | ACSIX % Rank | |
---|---|---|---|---|
Financial Services | 22.75% | 0.00% | 55.59% | 5.12% |
Consumer Cyclical | 20.79% | 0.00% | 30.33% | 1.92% |
Technology | 19.86% | 0.00% | 48.94% | 75.60% |
Energy | 9.71% | 0.00% | 41.64% | 3.20% |
Industrials | 7.57% | 0.00% | 29.90% | 84.48% |
Healthcare | 6.62% | 0.00% | 60.70% | 97.52% |
Communication Services | 1.56% | 0.00% | 27.94% | 95.52% |
Consumer Defense | 0.71% | 0.00% | 47.71% | 97.68% |
Basic Materials | 0.15% | 0.00% | 25.70% | 93.76% |
Real Estate | 0.05% | 0.00% | 31.91% | 86.00% |
Utilities | 0.00% | 0.00% | 20.91% | 92.80% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | ACSIX % Rank | |
---|---|---|---|---|
US | 1.89% | 0.00% | 124.03% | 99.14% |
Non US | 0.00% | 0.00% | 62.81% | 60.46% |
Bond Sector Breakdown
Weighting | Return Low | Return High | ACSIX % Rank | |
---|---|---|---|---|
Cash & Equivalents | 12.68% | 0.00% | 100.00% | 6.77% |
Securitized | 0.00% | 0.00% | 52.16% | 49.18% |
Corporate | 0.00% | 0.00% | 100.00% | 55.11% |
Municipal | 0.00% | 0.00% | 2.10% | 48.68% |
Government | 0.00% | 0.00% | 100.00% | 50.66% |
Derivative | -2.05% | -3.07% | 18.04% | 99.92% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | ACSIX % Rank | |
---|---|---|---|---|
US | 85.89% | -0.50% | 93.78% | 0.16% |
Non US | 2.02% | 0.00% | 10.46% | 1.02% |
ACSIX - Expenses
Operational Fees
ACSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 11.40% | 0.01% | 16.07% | 0.16% |
Management Fee | 0.65% | 0.00% | 1.90% | 72.35% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 44.97% |
Administrative Fee | 0.07% | 0.00% | 0.85% | 40.85% |
Sales Fees
ACSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
ACSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.25% | 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.
ACSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 196.00% | 0.00% | 496.00% | 98.15% |
ACSIX - Distributions
Dividend Yield Analysis
ACSIX | Category Low | Category High | ACSIX % Rank | |
---|---|---|---|---|
Dividend Yield | 7.93% | 0.00% | 26.04% | 11.98% |
Dividend Distribution Analysis
ACSIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
ACSIX | Category Low | Category High | ACSIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.26% | -54.00% | 6.06% | 73.92% |
Capital Gain Distribution Analysis
ACSIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 27, 2024 | $0.221 | OrdinaryDividend |
Dec 27, 2023 | $0.250 | OrdinaryDividend |
Sep 28, 2023 | $0.222 | OrdinaryDividend |
Jun 28, 2023 | $0.057 | OrdinaryDividend |
Dec 26, 2017 | $0.145 | OrdinaryDividend |
Dec 27, 2016 | $0.347 | OrdinaryDividend |
Jun 27, 2011 | $0.057 | OrdinaryDividend |
Mar 28, 2011 | $0.048 | OrdinaryDividend |
Dec 28, 2010 | $4.326 | OrdinaryDividend |
Sep 27, 2010 | $0.001 | OrdinaryDividend |
Jun 25, 2010 | $0.035 | OrdinaryDividend |
Mar 26, 2010 | $0.020 | OrdinaryDividend |
Dec 28, 2009 | $0.018 | OrdinaryDividend |
Jun 25, 2009 | $0.009 | OrdinaryDividend |
Mar 26, 2009 | $0.031 | OrdinaryDividend |