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Trending ETFs

Name

As of 04/27/2021

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

$10.99

$133 M

-

$0.00

2.86%

Vitals

YTD Return

3.4%

1 yr return

18.3%

3 Yr Avg Return

5.6%

5 Yr Avg Return

4.4%

Net Assets

$133 M

Holdings in Top 10

44.7%

52 WEEK LOW AND HIGH

$11.0
$9.64
$11.00

Expenses

OPERATING FEES

Expense Ratio 2.86%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 397.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,000

IRA

$2,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 04/27/2021

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

$10.99

$133 M

-

$0.00

2.86%

AEFCX - Profile

Distributions

  • YTD Total Return 3.4%
  • 3 Yr Annualized Total Return 5.6%
  • 5 Yr Annualized Total Return 4.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.89%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Water Island Event-Driven Fund
  • Fund Family Name
    Arbitrage Fund
  • Inception Date
    Jun 01, 2012
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Roger Foltynowicz

Fund Description


AEFCX - Performance

Return Ranking - Trailing

Period AEFCX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -11.4% 14.6% 40.59%
1 Yr 18.3% -33.0% 41.7% 14.42%
3 Yr 5.6%* -10.5% 13.4% 27.27%
5 Yr 4.4%* -4.8% 11.1% 30.95%
10 Yr 1.9%* -4.6% 7.6% 68.57%

* Annualized

Return Ranking - Calendar

Period AEFCX Return Category Return Low Category Return High Rank in Category (%)
2023 12.2% -31.7% 23.2% 8.08%
2022 3.7% -20.7% 10.7% 21.43%
2021 -1.6% -12.4% 14.7% 50.55%
2020 2.9% -13.2% 12.9% 27.50%
2019 4.3% -11.7% 7.9% 18.31%

Total Return Ranking - Trailing

Period AEFCX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.4% -11.4% 14.6% 40.59%
1 Yr 17.3% -33.0% 41.7% 13.46%
3 Yr 5.6%* -10.5% 13.4% 24.24%
5 Yr 4.4%* -4.8% 11.1% 26.19%
10 Yr 1.9%* -4.6% 7.6% 68.57%

* Annualized

Total Return Ranking - Calendar

Period AEFCX Return Category Return Low Category Return High Rank in Category (%)
2023 12.2% -31.7% 23.2% 8.08%
2022 3.7% -20.7% 10.7% 21.43%
2021 -1.6% -12.4% 14.7% 64.84%
2020 2.9% -12.7% 12.9% 47.50%
2019 4.3% -11.5% 13.2% 26.76%

NAV & Total Return History


AEFCX - Holdings

Concentration Analysis

AEFCX Category Low Category High AEFCX % Rank
Net Assets 133 M 105 K 12.6 B 46.67%
Number of Holdings 181 5 2526 61.90%
Net Assets in Top 10 23.3 M -619 M 6.53 B 45.71%
Weighting of Top 10 44.72% 7.6% 96.1% 48.19%

Top 10 Holdings

  1. Caesars Entertainment Corp 9.27%
  2. LogMeIn Inc 7.38%
  3. Wright Medical Group NV 6.82%
  4. Msgss Trs Usd R V 01mlibor Us0001m -40.00 Bps /Msgsss 6.78%
  5. Msgss Trs Usd P E Us6174464486/ Ms Us Swap 6.78%
  6. Msgss Trs Usd R V 01mlibor Us0001m -40.00 Bps /Msgsss 6.78%
  7. Msgss Trs Usd P E Us6174464486/ Ms Us Swap 6.78%
  8. Msgss Trs Usd R V 01mlibor Us0001m -40.00 Bps /Msgsss 6.78%
  9. Msgss Trs Usd R V 01mlibor Us0001m -40.00 Bps /Msgsss 6.78%
  10. Msgss Trs Usd R V 01mlibor Us0001m -40.00 Bps /Msgsss 6.78%

Asset Allocation

Weighting Return Low Return High AEFCX % Rank
Stocks
69.50% -57.09% 325.56% 18.10%
Cash
26.29% -225.56% 102.75% 75.24%
Bonds
2.71% -1.04% 63.30% 39.05%
Convertible Bonds
1.49% 0.00% 95.47% 33.33%
Preferred Stocks
0.00% 0.00% 5.67% 98.10%
Other
0.00% -11.90% 43.69% 83.81%

Stock Sector Breakdown

Weighting Return Low Return High AEFCX % Rank
Technology
39.69% 0.00% 100.00% 13.83%
Healthcare
16.92% 0.00% 27.28% 18.09%
Financial Services
14.18% 0.00% 98.37% 42.55%
Communication Services
11.38% 0.00% 33.72% 15.96%
Industrials
10.10% 0.00% 27.58% 53.19%
Consumer Cyclical
3.11% 0.00% 29.06% 78.72%
Basic Materials
1.87% 0.00% 42.74% 61.70%
Real Estate
1.12% 0.00% 93.91% 57.45%
Energy
0.84% 0.00% 53.30% 57.45%
Consumer Defense
0.41% 0.00% 30.58% 63.83%
Utilities
0.38% 0.00% 66.28% 61.70%

Stock Geographic Breakdown

Weighting Return Low Return High AEFCX % Rank
US
58.37% -55.82% 325.56% 17.14%
Non US
11.13% -7.09% 86.98% 16.19%

Bond Sector Breakdown

Weighting Return Low Return High AEFCX % Rank
Cash & Equivalents
86.21% 0.00% 100.00% 53.33%
Corporate
13.79% 0.00% 100.00% 28.57%
Derivative
0.00% 0.00% 30.95% 96.19%
Securitized
0.00% 0.00% 27.70% 95.24%
Municipal
0.00% 0.00% 3.82% 95.24%
Government
0.00% 0.00% 73.33% 96.19%

Bond Geographic Breakdown

Weighting Return Low Return High AEFCX % Rank
US
1.39% -1.04% 80.93% 39.05%
Non US
1.32% -64.71% 9.68% 7.62%

AEFCX - Expenses

Operational Fees

AEFCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.86% 0.73% 9.52% 35.58%
Management Fee 1.10% 0.13% 1.65% 54.29%
12b-1 Fee 1.00% 0.00% 1.00% 95.00%
Administrative Fee N/A 0.06% 0.40% 22.41%

Sales Fees

AEFCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.75% 5.75% 93.55%
Deferred Load 1.00% 1.00% 5.00% 80.00%

Trading Fees

AEFCX 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.

AEFCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 397.00% 30.00% 483.00% 96.67%

AEFCX - Distributions

Dividend Yield Analysis

AEFCX Category Low Category High AEFCX % Rank
Dividend Yield 0.00% 0.00% 0.75% 94.29%

Dividend Distribution Analysis

AEFCX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Annually Annually

Net Income Ratio Analysis

AEFCX Category Low Category High AEFCX % Rank
Net Income Ratio -0.89% -2.49% 4.20% 76.92%

Capital Gain Distribution Analysis

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

Distributions History

View More +

AEFCX - Fund Manager Analysis

Managers

Roger Foltynowicz


Start Date

Tenure

Tenure Rank

Oct 01, 2010

10.5

10.5%

Roger Foltynowicz, CAIA, received a Master of Science degree from Pace University in 2006 – with a major in Investment Management – and a Bachelor's degree from Presbyterian College in 1999 – with a major in Business Administration.

Todd Munn


Start Date

Tenure

Tenure Rank

Oct 01, 2010

10.5

10.5%

Munn is a portfolio manager of Water Island Capital, LLC. Prior to becoming a portfolio manager of the Fund, Mr. Munn was a senior equity analyst for the Fund. Mr. Munn received a Master of Business Administration degree from Fordham Graduate School of Business in 2003 and a Bachelors degree from Gettysburg College in 1993 — with a double major in Finance and Accounting.

Gregory Loprete


Start Date

Tenure

Tenure Rank

Oct 01, 2010

10.5

10.5%

Gregory(Gregg) Loprete joined Water Island Capital in 2009 and currently serves as a portfolio manager. He is primarily responsible for management of the firm’s convertible and fixed income investments. Prior to joining Water Island Capital, Mr. Loprete worked at Keefe, Bruyette & Woods as a Convertible and Preferred Trader where he evaluated, implemented and managed convertible and capital structure investments. From 2007-2008, Mr. Loprete was a Director in the Convertible Arbitrage Group at Ramius Capital Group, LLC. At Ramius Mr. Loprete also served as co-manager and trader. From 2003 to 2007, Mr. Loprete was a Senior Convertible Analyst and Convertible Banking Liaison at SG Cowen & Company. Mr. Loprete received a Masters of Business Administration degree in Finance from New York University in 1993 and a Bachelors degree from the University of Delaware in 1987 — with a major in English Literature with a minor in Economics.

John Orrico


Start Date

Tenure

Tenure Rank

Mar 31, 2018

3.0

3.0%

John Orrico, CFA, serves as Chief Investment Officer of t Water Island Capital, LLC. Prior to organizing Water Island in January 2000, Mr. Orrico assisted in the management of private trusts and entities employing merger arbitrage strategies. Mr. Orrico received a Bachelor's degree from Georgetown University in 1982 – with a double major in Finance and International Management. He received the Chartered Financial Analyst designation in 1988.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.59 6.35 9.42