Fund
TNVDX
Price as of:
$10.44
- $0.04
- 0.38%
Primary Theme
fund company
Name
As of 04/16/2024Price
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
1.2%
1 yr return
7.7%
3 Yr Avg Return
2.3%
5 Yr Avg Return
6.6%
Net Assets
$55.9 M
Holdings in Top 10
16.4%
52 WEEK LOW AND HIGH
$10.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.35%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 106.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/16/2024Price
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
TNVDX - Profile
Distributions
- YTD Total Return 1.2%
- 3 Yr Annualized Total Return 2.3%
- 5 Yr Annualized Total Return 6.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.85%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal Name1290 Loomis Sayles Multi-Asset Income Fund
-
Fund Family NameEQFunds
-
Inception DateMar 07, 2016
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAlwi Chan
Fund Description
Under normal circumstances, the Fund invests in a diversified range of income generating equity and fixed income securities and other financial instruments, including derivatives, which provide investment exposure to such securities. The Fund employs a dynamic asset allocation strategy under which it shifts its allocations among global equity and fixed income asset classes. The Fund also utilizes call option strategies to generate income. The Fund’s equity allocation will typically range from 25% to 70% of the Fund’s net assets, and its fixed income allocation will typically range from 20% to 75% of the Fund’s net assets, although the Fund may invest up to 100% of its total assets in either equity or fixed income securities. The Fund allocates its assets among asset classes and market sectors based upon the Sub-Adviser’s evaluation of global economic conditions and risk premiums of income producing asset classes (that is, the expected return to be received from investing in income producing asset classes that carry greater risk). The Fund’s asset allocation changes will be based on an assessment of relative valuation; stages of an economic cycle, which include downturn, credit repair, recovery and expansion/late cycle; economic regimes; short- and long-term macroeconomic themes; and sector fundamentals. The Fund may gain or adjust exposure to each asset class through investments in individual securities or through other instruments, including derivatives. The Fund may invest in companies of any size and may invest without limit in foreign securities, including emerging market securities. In selecting investments for the Fund, the Sub-Adviser considers factors including, but not limited to, top-down macroeconomic conditions and developments as well as bottom-up security selection.The Fund’s use of call option strategies (also called “covered call” or “buy write” strategies) under which the Fund writes (sells) call options or index based options on equity securities held in the Fund’s portfolio is intended to generate additional returns for the Fund from the option premium. The Sub-Adviser also believes that selling call options on a portion of the Fund’s equity securities may reduce volatility and downside risk; however, the use of call option strategies also may reduce capital appreciation. The Fund may write call options with an aggregate notional exposure in the range of 0-50% of the Fund’s net assets, with a typical range of exposure of 10% to 30% of the Fund’s net assets. The Fund may buy or sell call options on major equity indices as well as individual stocks in the Fund’s portfolio. For index call writing the Fund will replicate the index through purchase of individual securities and then write an index call option. To replicate the index, the Sub-Adviser may use full replication, or “sampling” techniques under which the Fund invests in a representative sample of the securities included in the index rather than buying all of the securities included in the index.When the Fund writes a call option on an index, it agrees (in return for receipt of the option premium) to pay the option holder, upon exercise of the option prior to or upon expiration, the difference between the exercise price and price of the index if the index price is above the exercise price at the time of exercise or expiration. When a call option’s exercise price is higher than the price of the index, the call option is “out of the money.” By selling options that are out of the money, the Fund seeks to profit from the sales price of the options while capitalizing on the general tendency of options that are out of the money at the time of sale to expire without value and without being exercised by the holder. The Fund determines whether an option is “out of the money” based on the probability that it will expire worthless based on implied market pricing. The Fund writes only “covered” call options (that is, calls against positions in the Fund).Equity Allocation — The Fund’s equity allocation will consist primarily of equity securities, including, but not limited to, common stocks, preferred stocks, securities convertible into common or preferred stocks, and real estate investment trusts (“REITS”). The Fund’s equity allocation will typically range from approximately 25% to 70% of the Fund’s net assets, excluding the call option strategies. The Fund may also invest in publicly-traded master limited partnerships (“MLPs”), including MLPs that are not taxed as regular corporations for U.S. federal income tax purposes. The Sub-Adviser seeks to identify equity securities that it believes offer attractive income and total return.Fixed Income Allocation — The Fund’s fixed income allocation will consist primarily of fixed income securities, including, but not limited to, foreign and domestic corporate obligations, fixed income securities issued by corporations and governments in foreign countries including emerging markets issuers, bank loans, commercial and residential mortgage-backed securities, asset-backed securities, collateralized loan obligations, floating or variable rate obligations, and securities issued or guaranteed by the U.S. government, its agencies, instrumentalities, or sponsored corporations. The Fund’s fixed income allocation will typically range from approximately 20% to 75% of the Fund’s net assets. The Fund typically expects to invest approximately 10% to 40% of its net assets in investment grade securities, 10% to 60% of its net assets in non-investment grade securities, and up to 40% of its net assets in any of the following: bank loans, securitized instruments such as commercial and residential mortgage-backed securities, asset-backed securities, and collateralized loan obligations, floating or variable rate obligations, or emerging market debt. The Sub-Adviser seeks to identify fixed income securities that it believes offer attractive income and total return.The Fund may invest in fixed income securities of any maturity or credit quality, including below investment grade securities (commonly known as “junk bonds”). Securities rated below investment grade include those that, at the time of investment, are rated Ba1 or lower by Moody’s Investors Service, Inc. or BB+ or lower by Fitch Ratings Ltd. or Standard & Poor’s Global Ratings or the equivalent by any other nationally recognized statistical rating organization, or, if unrated, determined by the Sub-Adviser to be of comparable quality. The Fund may invest in mortgage-backed or other asset-backed securities of any credit rating or credit quality. The Fund may invest in privately placed and restricted securities (including 144A bonds). The Fund does not normally invest in securities that are in default or have defaulted with respect to the payment of interest or repayment of principal, but may do so depending on market or other conditions. The Fund may continue to hold securities that go into default.Under normal market conditions, the weighted average effective duration of the Fund's fixed income allocation is expected to range from zero to seven years. Duration is a measure of the expected life of a fixed income security that is used to determine the sensitivity of a security’s price to changes in interest rates. Effective duration is a measure of the duration of the Fund's fixed income portfolio adjusted for the anticipated effect of interest rate changes on prepayment rates. The effective duration of the Fund's fixed income investments may be longer than its target in stressed market conditions and vary materially from its target, from time to time, and there is no assurance that the duration of the Fund's fixed income investments will meet its target. The longer a security’s duration, the more sensitive it will be to changes in interest rates, which may increase the volatility of the security’s value and may lead to losses.Other Investments — The Fund will principally use derivatives in employing its call option strategies. In addition, in implementing its dynamic allocation investment strategy, the Fund may invest in derivatives, including futures, forwards, swaps and other instruments, rather than investing directly in equity or fixed income securities. The Fund may also use derivatives for purposes of managing foreign currency, interest rate or credit risk. The Fund's investments in derivatives may involve the use of leverage because the Fund is not required to invest the full market value of the contract upon entering into the contract but participates in gains and losses on the full contract price. In addition, the Fund's investments in derivatives may involve the use of leverage because the heightened price sensitivity of some derivatives to market changes may magnify the Fund's gain or loss. It is not generally expected, however, that the Fund will be leveraged by borrowing money for investment purposes.The Fund also may invest in exchange-traded funds (“ETFs”) in seeking to carry out its investment strategies, including its call option strategies.The Fund's holdings may be frequently adjusted to reflect the Sub-Adviser’s assessment of changing risks, which could result in high portfolio turnover.
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TNVDX - Performance
Return Ranking - Trailing
| Period | TNVDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.2% | -2.6% | 13.3% | 12.82% |
| 1 Yr | 7.7% | -2.7% | 31.1% | 15.15% |
| 3 Yr | 2.3%* | -16.7% | 5.5% | 6.24% |
| 5 Yr | 6.6%* | -4.6% | 7.3% | 0.78% |
| 10 Yr | N/A* | 0.0% | 7.2% | N/A |
* Annualized
Return Ranking - Calendar
| Period | TNVDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.4% | -1.3% | 27.4% | 86.92% |
| 2022 | -12.6% | -35.0% | -7.4% | 4.02% |
| 2021 | 0.0% | -11.5% | 14.6% | 71.19% |
| 2020 | 4.8% | -10.3% | 40.7% | 52.94% |
| 2019 | 12.0% | -9.5% | 22.1% | 16.84% |
Total Return Ranking - Trailing
| Period | TNVDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.2% | -2.6% | 13.3% | 12.82% |
| 1 Yr | 7.7% | -2.7% | 31.1% | 15.15% |
| 3 Yr | 2.3%* | -16.7% | 5.5% | 6.24% |
| 5 Yr | 6.6%* | -4.6% | 7.3% | 0.78% |
| 10 Yr | N/A* | 0.0% | 7.2% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | TNVDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 9.7% | -1.3% | 28.2% | 60.98% |
| 2022 | -8.5% | -35.0% | -3.1% | 7.57% |
| 2021 | 10.3% | -11.5% | 32.0% | 14.53% |
| 2020 | 13.5% | -5.4% | 40.7% | 4.60% |
| 2019 | 18.4% | 4.5% | 27.7% | 10.26% |
NAV & Total Return History
TNVDX - Holdings
Concentration Analysis
| TNVDX | Category Low | Category High | TNVDX % Rank | |
|---|---|---|---|---|
| Net Assets | 55.9 M | 244 K | 50.8 B | 91.42% |
| Number of Holdings | 497 | 3 | 5294 | 23.49% |
| Net Assets in Top 10 | 9.35 M | 243 K | 10.1 B | 96.51% |
| Weighting of Top 10 | 16.42% | 6.4% | 127.7% | 86.15% |
Top 10 Holdings
- U.S. Treasury Notes 3.14%
- U.S. Treasury Bonds 2.29%
- iShares MSCI Japan ETF 2.03%
- iShares MSCI Emerging Markets Small-Cap ETF 1.92%
- INVESCO GOVERNMENT AGENCY PORTFOLIO OPEN-END FUND USD 1.78%
- Microsoft Corp. 1.76%
- NVIDIA Corp. 1.15%
- Amazon.com, Inc. 0.92%
- Exxon Mobil Corp. 0.75%
- Johnson Johnson 0.68%
Asset Allocation
| Weighting | Return Low | Return High | TNVDX % Rank | |
|---|---|---|---|---|
| Bonds | 56.31% | 0.00% | 81.41% | 12.53% |
| Stocks | 37.63% | 0.00% | 102.36% | 75.87% |
| Cash | 2.38% | -35.68% | 37.58% | 34.19% |
| Convertible Bonds | 0.35% | 0.00% | 71.77% | 86.15% |
| Preferred Stocks | 0.00% | 0.00% | 21.95% | 53.49% |
| Other | -0.27% | -0.44% | 63.55% | 98.84% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | TNVDX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 48.33% | 97.81% |
| Technology | 0.00% | 0.22% | 27.92% | 1.88% |
| Real Estate | 0.00% | 0.00% | 43.16% | 85.58% |
| Industrials | 0.00% | 0.14% | 17.90% | 90.60% |
| Healthcare | 0.00% | 0.00% | 24.25% | 24.92% |
| Financial Services | 0.00% | 0.00% | 83.50% | 39.66% |
| Energy | 0.00% | 0.00% | 62.93% | 86.68% |
| Communication Services | 0.00% | 0.00% | 11.11% | 4.86% |
| Consumer Defense | 0.00% | 0.00% | 18.62% | 13.79% |
| Consumer Cyclical | 0.00% | 0.00% | 14.20% | 67.08% |
| Basic Materials | 0.00% | 0.00% | 32.82% | 95.30% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | TNVDX % Rank | |
|---|---|---|---|---|
| US | 30.30% | 0.00% | 102.36% | 77.44% |
| Non US | 7.33% | 0.00% | 23.57% | 16.74% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | TNVDX % Rank | |
|---|---|---|---|---|
| Government | 39.44% | 0.00% | 63.33% | 27.46% |
| Corporate | 26.76% | 0.00% | 96.66% | 60.56% |
| Securitized | 20.29% | 0.00% | 52.08% | 33.57% |
| Cash & Equivalents | 2.22% | 0.00% | 36.70% | 33.95% |
| Municipal | 0.00% | 0.00% | 99.85% | 85.68% |
| Derivative | -0.30% | -0.44% | 63.54% | 98.84% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | TNVDX % Rank | |
|---|---|---|---|---|
| US | 55.75% | 0.00% | 81.41% | 13.02% |
| Non US | 0.56% | 0.00% | 18.69% | 18.84% |
TNVDX - Expenses
Operational Fees
| TNVDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.35% | 0.06% | 7.81% | 22.04% |
| Management Fee | 0.65% | 0.00% | 1.25% | 92.56% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 2.06% |
| Administrative Fee | 0.15% | 0.01% | 0.70% | 77.36% |
Sales Fees
| TNVDX 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
| TNVDX 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.
| TNVDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 106.00% | 2.00% | 380.00% | 91.16% |
TNVDX - Distributions
Dividend Yield Analysis
| TNVDX | Category Low | Category High | TNVDX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 8.02% | 28.07% |
Dividend Distribution Analysis
| TNVDX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Annual | Monthly | Monthly |
Net Income Ratio Analysis
| TNVDX | Category Low | Category High | TNVDX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.85% | -1.22% | 6.83% | 87.06% |
Capital Gain Distribution Analysis
| TNVDX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 28, 2024 | $0.020 | OrdinaryDividend |
| Feb 29, 2024 | $0.035 | OrdinaryDividend |
| Jan 31, 2024 | $0.033 | OrdinaryDividend |
| Nov 30, 2023 | $0.046 | OrdinaryDividend |
| Oct 31, 2023 | $0.040 | OrdinaryDividend |
| Sep 29, 2023 | $0.026 | OrdinaryDividend |
| Aug 31, 2023 | $0.039 | OrdinaryDividend |
| Jul 31, 2023 | $0.038 | OrdinaryDividend |
| Jun 30, 2023 | $0.037 | OrdinaryDividend |
| May 31, 2023 | $0.039 | OrdinaryDividend |
| Apr 28, 2023 | $0.043 | OrdinaryDividend |
| Mar 31, 2023 | $0.045 | OrdinaryDividend |
| Jan 31, 2023 | $0.078 | OrdinaryDividend |
| Nov 30, 2022 | $0.043 | OrdinaryDividend |
| Oct 31, 2022 | $0.043 | OrdinaryDividend |
| Sep 30, 2022 | $0.037 | OrdinaryDividend |
| Aug 31, 2022 | $0.104 | OrdinaryDividend |
| Dec 13, 2019 | $0.613 | OrdinaryDividend |
| Dec 13, 2018 | $0.195 | OrdinaryDividend |
| Dec 14, 2017 | $0.156 | OrdinaryDividend |
TNVDX - Fund Manager Analysis
Managers
Alwi Chan
Start Date
Tenure
Tenure Rank
Mar 07, 2016
6.24
6.2%
Alwi Chan, CFA is a Vice President of the Trusts and member of each Trust’s Valuation Committee. He has served as a Lead Director of AXA Equitable and Senior Vice President and Deputy Chief Investment Officer of FMG LLC since June 2012. Mr. Chan assists in portfolio analysis, rebalancing and fund selection. Mr. Chan earned a Bachelor’s degree in Economics from Trisakti University (Indonesia) and an MBA from Tulane University. Mr. Chan holds the Chartered Financial Analyst (CFA) designation.
Kenneth Kozlowski
Start Date
Tenure
Tenure Rank
Mar 07, 2016
6.24
6.2%
Kenneth T. Kozlowski, CFP, CLU, ChFC, is the lead portfolio manager and Chief Investment Officer for EIMG LLC. Mr. Kozlowski is a Managing Director of Equitable Life Insurance Company (“Equitable”) and has served as Executive Vice President and Chief Investment Officer of EIMG LLC since June 2012. He has had primary responsibility for the asset allocation, fund selection and rebalancing of Equitable’s funds-of-funds since 2003.
Jeffrey Gundlach
Start Date
Tenure
Tenure Rank
Mar 07, 2016
6.24
6.2%
Mr. Gundlach is CEO of DoubleLine. In 2011, he appeared on the cover of Barron's as "The New Bond King." In 2013, Institutional Investor named him "Money Manager of the Year." In 2012, 2015 and 2016, he was named one of "The Fifty Most Influential" in Bloomberg Markets. In 2017, he was inducted into the FIASI Fixed Income Hall of Fame. Mr. Gundlach is a summa cum laude graduate of Dartmouth College, with degrees in Mathematics and Philosophy.
Jeffrey Sherman
Start Date
Tenure
Tenure Rank
May 21, 2020
2.03
2.0%
As DoubleLine’s Deputy Chief Investment Officer, Jeffrey Sherman oversees and administers DoubleLine’s Investment Management sub-committee coordinating and implementing policies and processes across the investment teams. He also serves as lead portfolio manager for multi-sector and derivative-based strategies. He is a member of DoubleLine’s Executive Management and Fixed Income Asset Allocation Committees. Prior to joining DoubleLine in 2009, he was a Senior Vice President at TCW where he worked as a portfolio manager and quantitative analyst focused on fixed income and real-asset portfolios.
Emidio Checcone
Start Date
Tenure
Tenure Rank
May 21, 2020
2.03
2.0%
Mr. Checcone joined DoubleLine Equity LP in 2014. He previously spent six years at Huber Capital Management, where he was a Principal and Portfolio Manager. Mr. Checcone also worked for six years at PRIMECAP Management Company, where he was a Principal and Financial Analyst. He received his BA in Social Studies from Harvard College, as well as a JD-MBA from Harvard Law School and the Harvard Graduate School of Business Administration. He is a CFA charterholder.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 28.73 | 6.44 | 2.41 |