Name
As of 09/18/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
9.6%
1 yr return
17.3%
3 Yr Avg Return
4.4%
5 Yr Avg Return
8.3%
Net Assets
$17.2 M
Holdings in Top 10
38.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.80%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 42.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$2,500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 09/18/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
TRIIX - Profile
Distributions
- YTD Total Return 9.6%
- 3 Yr Annualized Total Return 4.4%
- 5 Yr Annualized Total Return 8.3%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 5.96%
- Dividend Yield 8.9%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameCatalyst/SMH Total Return Income Fund
-
Fund Family NameMutual Fund Series Trust
-
Inception DateJul 01, 2013
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDwayne Moyers
Fund Description
Normally, the Fund invests primarily in a broad range of income-producing securities. These include equity securities, such as dividend-paying common stocks and REITs and debt securities, such as interest-paying bonds and convertible bonds. The Fund may also invest in preferred stock, master limited partnerships (“MLPs”), and bank notes. The composition of the Fund’s investments in equity, debt and cash or money market instruments may vary substantially depending on various factors, including market conditions.
Generally, at least 30% of the Fund’s assets is invested in equity securities. Subject to the provisions of the Investment Company Act of 1940 (the “1940 Act”), the Fund may invest in other investment companies (“acquired funds”), including business development companies (“BDCs”) and other closed-end funds, and exchange-traded funds (“ETFs”). The Fund may invest in companies of any market capitalization but generally focuses on stocks with capitalization between $1 billion and $10 billion.
The Fund may invest up to 20% of its assets in equity securities of issuers domiciled outside the United States, including without limitation sponsored American Depositary Receipts (“ADRs”). The Fund may also invest up to 20% of its assets in debt securities of non-U.S. issuers.
In addition, the Fund may invest without limitation in lower quality, higher yielding debt securities (rated Ba or lower by Moody’s Investors Service or BB or lower by S&P Global Ratings or unrated but determined by the Fund’s sub-advisor, SMH Capital Advisors, LLC (the
“Sub-Advisor”) to be of equivalent quality) also known as “junk bonds.” While there are no restrictions on maturity, the bonds in the Fund’s portfolio generally have an average maturity of less than ten years.
The Sub-Advisor seeks to invest in attractively valued securities that, in its opinion, represent above-average long-term investment opportunities. The Sub-Advisor seeks investments with yields above the market average and generally focuses on value-oriented securities – those with low price to sales, price to book and price to earnings ratios relative to their growth rates. Securities may be sold when the Sub-Advisor believes that they no longer represent relatively attractive investment opportunities.
The Fund is classified as “non-diversified” for purposes of the 1940 Act, which means that it is not limited by the 1940 Act with regard to the portion of its assets that may be invested in the securities of a single issuer.
Distribution Policy: The Fund’s distribution policy is to make twelve monthly distributions to shareholders. The Fund may, at the discretion of management, target a specific level of monthly distributions (including any return of capital) from time to time. 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 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 the Fund’s Principal Investment Strategies and Related Risks – Principal Investment Strategies – Catalyst/SMH Total Return Income Fund - Distribution Policy and Goals” section in the Fund’s Prospectus.
TRIIX - Performance
Return Ranking - Trailing
Period | TRIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.6% | 0.1% | 39.6% | 83.48% |
1 Yr | 17.3% | -1.8% | 53.9% | 62.93% |
3 Yr | 4.4%* | -5.0% | 12.3% | 42.27% |
5 Yr | 8.3%* | -2.9% | 16.2% | 30.05% |
10 Yr | 4.7%* | 0.9% | 10.8% | 83.80% |
* Annualized
Return Ranking - Calendar
Period | TRIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.1% | -12.2% | 23.9% | 70.79% |
2022 | -16.5% | -34.7% | 2.8% | 30.26% |
2021 | 18.1% | -11.9% | 18.1% | 0.30% |
2020 | -1.1% | -20.9% | 39.7% | 94.15% |
2019 | 13.1% | 0.8% | 25.7% | 60.59% |
Total Return Ranking - Trailing
Period | TRIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.6% | 0.1% | 39.6% | 83.48% |
1 Yr | 17.3% | -1.8% | 53.9% | 62.93% |
3 Yr | 4.4%* | -5.0% | 12.3% | 42.27% |
5 Yr | 8.3%* | -2.9% | 16.2% | 30.05% |
10 Yr | 4.7%* | 0.9% | 10.8% | 83.80% |
* Annualized
Total Return Ranking - Calendar
Period | TRIIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.8% | -12.2% | 26.8% | 34.53% |
2022 | -12.3% | -29.0% | 10.9% | 27.63% |
2021 | 24.2% | -3.0% | 27.3% | 0.30% |
2020 | 5.5% | -19.5% | 40.6% | 88.61% |
2019 | 19.8% | 2.2% | 32.7% | 46.58% |
NAV & Total Return History
TRIIX - Holdings
Concentration Analysis
TRIIX | Category Low | Category High | TRIIX % Rank | |
---|---|---|---|---|
Net Assets | 17.2 M | 789 K | 230 B | 97.29% |
Number of Holdings | 50 | 2 | 16015 | 51.65% |
Net Assets in Top 10 | 6.88 M | 577 K | 69.8 B | 97.70% |
Weighting of Top 10 | 38.58% | 11.0% | 121.0% | 59.42% |
Top 10 Holdings
- RIG 6.8 03/15/38 4.43%
- COMPASS DIVERSIF 4.33%
- PENNANTPARK INVE 4.20%
- CXW 4 3/4 10/15/27 4.11%
- EZPW 2 3/8 05/01/25 3.92%
- TWI 7 04/30/28 3.71%
- ENVA 8 1/2 09/15/25 3.64%
- BZH 5 7/8 10/15/27 3.52%
- MAIN STREET CAPI 3.43%
- AXL 5 10/01/29 3.29%
Asset Allocation
Weighting | Return Low | Return High | TRIIX % Rank | |
---|---|---|---|---|
Bonds | 57.62% | 0.00% | 101.40% | 4.03% |
Stocks | 39.97% | 0.00% | 100.16% | 89.93% |
Convertible Bonds | 10.66% | 0.00% | 23.84% | 2.61% |
Cash | 2.41% | -7.92% | 100.00% | 38.42% |
Preferred Stocks | 0.00% | 0.00% | 23.91% | 91.37% |
Other | 0.00% | -43.77% | 113.97% | 85.18% |
Stock Sector Breakdown
Weighting | Return Low | Return High | TRIIX % Rank | |
---|---|---|---|---|
Financial Services | 37.74% | 0.00% | 38.77% | 0.87% |
Real Estate | 22.65% | 0.00% | 65.01% | 2.33% |
Industrials | 12.28% | 0.00% | 24.37% | 16.13% |
Technology | 7.52% | 0.00% | 44.21% | 93.60% |
Energy | 6.29% | 0.00% | 85.65% | 30.67% |
Consumer Cyclical | 4.84% | 0.00% | 19.36% | 88.95% |
Communication Services | 4.66% | 0.00% | 38.10% | 90.99% |
Consumer Defense | 2.23% | 0.00% | 15.14% | 92.59% |
Healthcare | 1.79% | 0.00% | 29.35% | 95.35% |
Utilities | 0.00% | 0.00% | 99.55% | 98.98% |
Basic Materials | 0.00% | 0.00% | 33.35% | 99.13% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | TRIIX % Rank | |
---|---|---|---|---|
US | 39.97% | 0.00% | 100.16% | 87.48% |
Non US | 0.00% | 0.00% | 39.06% | 89.78% |
Bond Sector Breakdown
Weighting | Return Low | Return High | TRIIX % Rank | |
---|---|---|---|---|
Corporate | 91.42% | 0.00% | 98.21% | 3.48% |
Cash & Equivalents | 0.88% | 0.00% | 99.92% | 54.10% |
Derivative | 0.00% | -2.87% | 42.43% | 73.81% |
Securitized | 0.00% | 0.00% | 92.13% | 97.25% |
Municipal | 0.00% | 0.00% | 24.80% | 94.06% |
Government | 0.00% | 0.00% | 97.26% | 98.12% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | TRIIX % Rank | |
---|---|---|---|---|
US | 57.62% | 0.00% | 101.40% | 4.03% |
Non US | 0.00% | 0.00% | 14.05% | 90.07% |
TRIIX - Expenses
Operational Fees
TRIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.80% | 0.03% | 17.63% | 4.58% |
Management Fee | 1.00% | 0.00% | 1.83% | 97.14% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 11.11% |
Administrative Fee | N/A | 0.01% | 0.83% | 62.31% |
Sales Fees
TRIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
TRIIX 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.
TRIIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 42.00% | 0.00% | 343.00% | 53.30% |
TRIIX - Distributions
Dividend Yield Analysis
TRIIX | Category Low | Category High | TRIIX % Rank | |
---|---|---|---|---|
Dividend Yield | 8.88% | 0.00% | 17.90% | 4.86% |
Dividend Distribution Analysis
TRIIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annual | Monthly | Annual |
Net Income Ratio Analysis
TRIIX | Category Low | Category High | TRIIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 5.96% | -2.34% | 19.41% | 0.73% |
Capital Gain Distribution Analysis
TRIIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Monthly | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Aug 29, 2024 | $0.036 | OrdinaryDividend |
Jul 30, 2024 | $0.030 | OrdinaryDividend |
Apr 29, 2024 | $0.025 | OrdinaryDividend |
Mar 27, 2024 | $0.022 | OrdinaryDividend |
Feb 28, 2024 | $0.020 | OrdinaryDividend |
Jan 30, 2024 | $0.021 | OrdinaryDividend |
Dec 28, 2023 | $0.035 | OrdinaryDividend |
Nov 29, 2023 | $0.026 | OrdinaryDividend |
Oct 30, 2023 | $0.026 | OrdinaryDividend |
Sep 28, 2023 | $0.021 | OrdinaryDividend |
Aug 30, 2023 | $0.021 | OrdinaryDividend |
Jul 28, 2023 | $0.025 | OrdinaryDividend |
Jun 29, 2023 | $0.023 | OrdinaryDividend |
May 30, 2023 | $0.020 | OrdinaryDividend |
Apr 27, 2023 | $0.021 | OrdinaryDividend |
Mar 30, 2023 | $0.020 | OrdinaryDividend |
Feb 27, 2023 | $0.014 | OrdinaryDividend |
Jan 30, 2023 | $0.013 | OrdinaryDividend |
Dec 29, 2022 | $0.029 | OrdinaryDividend |
Nov 29, 2022 | $0.015 | OrdinaryDividend |
Oct 28, 2022 | $0.022 | OrdinaryDividend |
Sep 29, 2022 | $0.014 | OrdinaryDividend |
Aug 30, 2022 | $0.012 | OrdinaryDividend |
Jul 28, 2022 | $0.021 | OrdinaryDividend |
Jun 29, 2022 | $0.013 | OrdinaryDividend |
May 27, 2022 | $0.016 | OrdinaryDividend |
Apr 28, 2022 | $0.017 | OrdinaryDividend |
Mar 30, 2022 | $0.019 | OrdinaryDividend |
Feb 25, 2022 | $0.021 | OrdinaryDividend |
Jan 28, 2022 | $0.020 | OrdinaryDividend |
Nov 29, 2021 | $0.026 | OrdinaryDividend |
Oct 28, 2021 | $0.025 | OrdinaryDividend |
Sep 29, 2021 | $0.023 | OrdinaryDividend |
Aug 30, 2021 | $0.022 | OrdinaryDividend |
Jul 29, 2021 | $0.021 | OrdinaryDividend |
Jun 29, 2021 | $0.035 | OrdinaryDividend |
May 27, 2021 | $0.027 | OrdinaryDividend |
Apr 29, 2021 | $0.024 | OrdinaryDividend |
Mar 30, 2021 | $0.022 | OrdinaryDividend |
Feb 25, 2021 | $0.013 | OrdinaryDividend |
Jan 28, 2021 | $0.015 | OrdinaryDividend |
Dec 30, 2020 | $0.023 | OrdinaryDividend |
Nov 27, 2020 | $0.018 | OrdinaryDividend |
Oct 29, 2020 | $0.018 | OrdinaryDividend |
Sep 29, 2020 | $0.012 | OrdinaryDividend |
Aug 28, 2020 | $0.014 | OrdinaryDividend |
Jul 30, 2020 | $0.026 | OrdinaryDividend |
Jun 29, 2020 | $0.045 | OrdinaryDividend |
May 28, 2020 | $0.022 | OrdinaryDividend |
Apr 29, 2020 | $0.023 | OrdinaryDividend |
Mar 30, 2020 | $0.017 | OrdinaryDividend |
Feb 27, 2020 | $0.017 | OrdinaryDividend |
Jan 30, 2020 | $0.017 | OrdinaryDividend |
Dec 30, 2019 | $0.029 | OrdinaryDividend |
Nov 27, 2019 | $0.023 | OrdinaryDividend |
Oct 30, 2019 | $0.023 | OrdinaryDividend |
Sep 27, 2019 | $0.023 | OrdinaryDividend |
Aug 29, 2019 | $0.022 | OrdinaryDividend |
Jul 30, 2019 | $0.020 | OrdinaryDividend |
Jun 27, 2019 | $0.022 | OrdinaryDividend |
May 30, 2019 | $0.013 | OrdinaryDividend |
Apr 29, 2019 | $0.017 | OrdinaryDividend |
Mar 28, 2019 | $0.019 | OrdinaryDividend |
Feb 27, 2019 | $0.018 | OrdinaryDividend |
Jan 30, 2019 | $0.020 | OrdinaryDividend |
Dec 28, 2018 | $0.026 | OrdinaryDividend |
Nov 29, 2018 | $0.024 | OrdinaryDividend |
Oct 30, 2018 | $0.026 | OrdinaryDividend |
Sep 27, 2018 | $0.026 | OrdinaryDividend |
Aug 30, 2018 | $0.026 | OrdinaryDividend |
Jul 30, 2018 | $0.026 | OrdinaryDividend |
Jun 28, 2018 | $0.026 | OrdinaryDividend |
May 30, 2018 | $0.026 | OrdinaryDividend |
Apr 27, 2018 | $0.021 | OrdinaryDividend |
Mar 28, 2018 | $0.021 | OrdinaryDividend |
Feb 27, 2018 | $0.019 | OrdinaryDividend |
Jan 30, 2018 | $0.023 | OrdinaryDividend |
Dec 28, 2017 | $0.039 | OrdinaryDividend |
Nov 29, 2017 | $0.025 | OrdinaryDividend |
Oct 30, 2017 | $0.031 | OrdinaryDividend |
Sep 28, 2017 | $0.026 | OrdinaryDividend |
Aug 30, 2017 | $0.021 | OrdinaryDividend |
Jul 28, 2017 | $0.019 | OrdinaryDividend |
Jun 29, 2017 | $0.028 | OrdinaryDividend |
May 30, 2017 | $0.025 | OrdinaryDividend |
Apr 27, 2017 | $0.023 | OrdinaryDividend |
Mar 30, 2017 | $0.028 | OrdinaryDividend |
Feb 27, 2017 | $0.024 | OrdinaryDividend |
Jan 30, 2017 | $0.016 | OrdinaryDividend |
Dec 29, 2016 | $0.024 | OrdinaryDividend |
Nov 29, 2016 | $0.018 | OrdinaryDividend |
Oct 28, 2016 | $0.019 | OrdinaryDividend |
Sep 29, 2016 | $0.019 | OrdinaryDividend |
Aug 30, 2016 | $0.021 | OrdinaryDividend |
Jul 28, 2016 | $0.021 | OrdinaryDividend |
Jun 29, 2016 | $0.021 | OrdinaryDividend |
May 27, 2016 | $0.021 | OrdinaryDividend |
Apr 28, 2016 | $0.021 | OrdinaryDividend |
Mar 30, 2016 | $0.029 | OrdinaryDividend |
Feb 26, 2016 | $0.029 | OrdinaryDividend |
Jan 28, 2016 | $0.029 | OrdinaryDividend |
Dec 30, 2015 | $0.031 | OrdinaryDividend |
Nov 27, 2015 | $0.031 | OrdinaryDividend |
Oct 29, 2015 | $0.031 | OrdinaryDividend |
Sep 29, 2015 | $0.031 | OrdinaryDividend |
Aug 28, 2015 | $0.016 | OrdinaryDividend |
Jul 30, 2015 | $0.031 | OrdinaryDividend |
Jun 29, 2015 | $0.031 | OrdinaryDividend |
May 28, 2015 | $0.031 | OrdinaryDividend |
Apr 29, 2015 | $0.031 | OrdinaryDividend |
Mar 30, 2015 | $0.031 | OrdinaryDividend |
Feb 26, 2015 | $0.031 | OrdinaryDividend |
Jan 29, 2015 | $0.031 | OrdinaryDividend |
Dec 30, 2014 | $0.031 | OrdinaryDividend |
Nov 26, 2014 | $0.031 | OrdinaryDividend |
Oct 30, 2014 | $0.027 | OrdinaryDividend |
Sep 29, 2014 | $0.031 | OrdinaryDividend |
Aug 28, 2014 | $0.031 | OrdinaryDividend |
Jul 30, 2014 | $0.020 | OrdinaryDividend |
Jun 27, 2014 | $0.036 | OrdinaryDividend |
May 29, 2014 | $0.036 | OrdinaryDividend |
Apr 29, 2014 | $0.036 | OrdinaryDividend |
Mar 28, 2014 | $0.036 | OrdinaryDividend |
Feb 27, 2014 | $0.028 | OrdinaryDividend |
Jan 30, 2014 | $0.028 | OrdinaryDividend |
Dec 30, 2013 | $0.043 | OrdinaryDividend |
Nov 27, 2013 | $0.031 | OrdinaryDividend |
Oct 30, 2013 | $0.027 | OrdinaryDividend |
Sep 27, 2013 | $0.028 | OrdinaryDividend |
Aug 29, 2013 | $0.028 | OrdinaryDividend |
Jul 30, 2013 | $0.028 | OrdinaryDividend |
TRIIX - Fund Manager Analysis
Managers
Dwayne Moyers
Start Date
Tenure
Tenure Rank
May 21, 2008
14.04
14.0%
Dwayne Moyers has been with the firm since the founding of SMHCA in 1996 and has been in the industry since 1991. Mr. Moyers is a member of the SMHCA Investment Committee and is responsible for portfolio design, allocation management and overseeing the day-to-day portfolio management of the firm’s strategies. As Chief Investment Officer, Mr. Moyers oversees the Portfolio Management Team as they continually monitor the quantitative, qualitative, and risk control disciplines that are used to manage the investment strategies. Prior to joining the firm, Mr. Moyers was a credit analyst with Tandy Corporation. Mr. Moyers holds a bachelor degree in business administration from the University of Texas at Arlington.
Daniel Rudnitsky
Start Date
Tenure
Tenure Rank
Oct 31, 2012
9.59
9.6%
Daniel Rudnitsky joined SMH Capital Advisors in 2012 and serves as Senior Portfolio Manager and Vice President. As Portfolio Manager and member of the Investment Committee, Mr. Rudnitsky’s responsibilities include research and credit analysis, day-to-day portfolio management and investment origination. Mr. Rudnitsky plays a role in financial analysis and modeling processes by building financial models and researching market trends. He also works on the development of new products and facilitates expansion into new markets. Prior to joining the SMHCA team, Mr. Rudnitsky served as Investment Product/Platform Manager of New York Life Insurance Company (November 2010 to July 2012); Vice President, Municipal Bond Sales of Rockfleet Financial Services, Inc. (January 2010 to September 2010); Fixed Income Client Portfolio Manager for Institutional and Fixed Income Portfolios of Bear Stearns Asset Management (January 2007 to November 2008); Global Fixed Income Product Manager for AllianceBernstein (2004 to 2006); and various position with The Dreyfus Corporation (2004-2006). Mr. Rudnitsky holds a bachelor degree in Business Administration with a concentration in Finance from Ramapo College of New Jersey.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 34.51 | 6.36 | 2.41 |