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Trending ETFs

Name

As of 05/21/2024

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

$11.15

$17.7 M

2.07%

$0.23

3.62%

Vitals

YTD Return

3.0%

1 yr return

17.7%

3 Yr Avg Return

3.0%

5 Yr Avg Return

3.8%

Net Assets

$17.7 M

Holdings in Top 10

51.1%

52 WEEK LOW AND HIGH

$11.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 3.62%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 205.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$2,500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/21/2024

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

$11.15

$17.7 M

2.07%

$0.23

3.62%

CLPCX - Profile

Distributions

  • YTD Total Return 3.0%
  • 3 Yr Annualized Total Return 3.0%
  • 5 Yr Annualized Total Return 3.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.64%
DIVIDENDS
  • Dividend Yield 2.1%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Catalyst Nasdaq-100 Hedged Equity Fund
  • Fund Family Name
    Mutual Fund Series Trust
  • Inception Date
    Dec 31, 2013
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Afshin Rahbari

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of borrowings for investment purposes, in equity securities that constitute the NASDAQ-100 Index® (“NDX”). For the purpose of this 80% policy, equity securities that constitute the NDX include the common stock of companies comprising the NDX; exchange traded funds (“ETFs”) and exchange traded notes (“ETNs”) that track the NDX; and futures and options on futures on the NDX. The Fund considers its investment in derivatives when determining its compliance with this policy. The Fund generally invests in common stock using a near replication methodology, meaning it seeks to invest in most of the companies comprising the NDX in near proportion to the weightings in the NDX. The NDX is a large-capitalization growth index comprised of the 100 largest domestic and international (including emerging markets) non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The NDX is concentrated in the technology sector.

The Fund seeks to hedge the majority of NDX risk by investing up to 20% of its assets in futures contracts on the Cboe Volatility Index® (the “VIX Index”) or other volatility-related products; options on the index futures; and in cash and cash equivalents, including U.S. Treasury obligations, as a volatility overlay. Volatility is the variation of the trading price over a period of time. The VIX Index is a measure of the stock market’s expectation of volatility based on S&P 500 Index options. The VIX Index is calculated based on roughly 30-day expiring S&P 500 Index options. The Fund may hold both long and short positions in the index futures at the same time.

The Fund invests a portion of its assets in VIX futures or other volatility-related products utilizing the same methodology as the Equity Armor Investments VOL 365 Trading Strategy (the “EAVOL Trading Strategy”), a strategy based on a proprietary VIX futures trading strategy that seeks to

correlate to VIX futures returns. The Fund primarily invests in VIX futures or other volatility-related products and seeks to achieve high correlation to the return of the EAVOL Trading Strategy for this component of the Fund’s portfolio. The EAVOL Trading Strategy was created by the Fund’s investment sub-advisor, Equity Armor Investments, LLC (the “Sub-Advisor”) and is constructed pursuant to a rules-based volatility analysis that identifies investments that present the least potential for time decay (i.e., the decline in the value of a contract over the passage of time) while maintaining the highest correlation to VIX Index price movement each day. Historically, the VIX Index negatively correlates to equity price movement. Therefore, the EAVOL Trading Strategy may appreciate during times of downward equity prices or when market forecasts expect movement in equity prices. Likewise, when equity prices appreciate or when the market does not expect movement in equity prices, the EAVOL Trading Strategy is likely to decline in value. Volatility analysis includes the study of price, momentum, future curves, as well as recurring price patterns. The EAVOL Trading Strategy consists primarily of VIX futures. The components of the EAVOL Trading Strategy are adjusted on a daily basis. The Fund adjusts this component of the portfolio on a daily basis in order to closely track the EAVOL Trading Strategy.

The Sub-Advisor may, during times of high market volatility, choose to trade securities related to the VIX Index, such as S&P 500 Index futures, options on S&P 500 and NASDAQ-100 Index futures, and VIX options, in order to achieve the volatility overlay to the Fund’s equity exposure, if the Sub-Advisor determines that such instruments provide greater access to volatility and, at such time, the EAVOL Trading Strategy. The use of S&P 500 Index futures and options thereon will typically be used in adverse market conditions. Because S&P 500 Index options provide a proxy for the VIX index and VIX futures, S&P 500 Index options correlate to VIX futures. Because S&P 500 Index futures and options thereon eventually settle into the S&P 500 Index quarterly expiration, the Sub-Advisor may choose to trade such securities in place of, or in addition to, index futures.

The volatility overlay aims to minimize possible losses that are common in stock indexes so that investors might be able to ride-out market swings in pursuit of their long-term investment objectives. The volatility overlay has an associated cost. If the NDX rises for a long period of time, the Fund may never show any gains. The Fund’s strategy has no annualized target for the level of volatility it seeks to achieve under normal circumstances. There may be times that the Sub-Advisor determines not to implement the Fund’s volatility hedging strategy.

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CLPCX - Performance

Return Ranking - Trailing

Period CLPCX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.0% -2.8% 240.8% 98.42%
1 Yr 17.7% -4.3% 140.6% 63.48%
3 Yr 3.0%* -8.3% 18.3% 79.49%
5 Yr 3.8%* -5.0% 17.3% 77.12%
10 Yr 3.6%* -4.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period CLPCX Return Category Return Low Category Return High Rank in Category (%)
2023 34.7% -34.1% 904.0% 56.76%
2022 -32.8% -28.6% 438.4% 36.99%
2021 11.9% -93.5% 8.2% 17.93%
2020 3.9% -38.9% 19.8% 47.29%
2019 12.8% -10.9% 12.8% 67.96%

Total Return Ranking - Trailing

Period CLPCX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.0% -2.7% 244.0% 98.42%
1 Yr 17.7% -4.3% 140.6% 60.87%
3 Yr 3.0%* -8.3% 18.3% 76.92%
5 Yr 3.8%* -5.4% 17.3% 75.42%
10 Yr 3.6%* -4.6% 13.2% N/A

* Annualized

Total Return Ranking - Calendar

Period CLPCX Return Category Return Low Category Return High Rank in Category (%)
2023 34.7% -34.1% 904.0% 56.76%
2022 -31.0% -5.9% 438.4% 37.57%
2021 12.3% -81.2% 8.2% 28.28%
2020 4.4% -29.0% 19.8% 62.02%
2019 18.6% -10.9% 12.8% 77.67%

NAV & Total Return History


CLPCX - Holdings

Concentration Analysis

CLPCX Category Low Category High CLPCX % Rank
Net Assets 17.7 M 25 17.4 B 89.14%
Number of Holdings 110 2 508 23.66%
Net Assets in Top 10 8.33 M -6.66 M 5.12 B 91.60%
Weighting of Top 10 51.08% 11.3% 100.0% 28.00%

Top 10 Holdings

  1. INVESCO QQQ TRUST SERIES 14.20%
  2. APPLE INC 8.10%
  3. MICROSOFT CORP 7.51%
  4. AMAZON.COM INC 4.21%
  5. FIRST AM-TR OB-X 3.73%
  6. NVIDIA CORP 3.29%
  7. META PLATFORMS-A 2.96%
  8. BROADCOM INC 2.66%
  9. ALPHABET INC-A 2.23%
  10. ALPHABET INC-C 2.20%

Asset Allocation

Weighting Return Low Return High CLPCX % Rank
Stocks
89.97% -3.92% 100.76% 73.28%
Cash
9.85% -0.76% 100.29% 16.79%
Other
0.17% 0.00% 45.92% 53.82%
Preferred Stocks
0.00% 0.00% 3.08% 42.75%
Convertible Bonds
0.00% 0.00% 20.91% 45.04%
Bonds
0.00% 0.00% 97.96% 48.47%

Stock Sector Breakdown

Weighting Return Low Return High CLPCX % Rank
Technology
48.42% 0.00% 44.43% 2.10%
Communication Services
17.16% 0.00% 21.22% 2.52%
Consumer Cyclical
16.92% 0.00% 19.02% 0.42%
Healthcare
5.97% 0.00% 25.91% 94.12%
Consumer Defense
5.49% 0.00% 22.87% 90.34%
Industrials
3.93% 1.41% 43.91% 95.38%
Utilities
1.12% 0.00% 13.35% 94.54%
Financial Services
0.99% 0.00% 29.60% 97.48%
Real Estate
0.00% 0.00% 9.74% 94.96%
Energy
0.00% 0.00% 69.54% 96.22%
Basic Materials
0.00% 0.00% 60.58% 96.64%

Stock Geographic Breakdown

Weighting Return Low Return High CLPCX % Rank
US
89.97% -3.89% 100.00% 61.07%
Non US
0.00% -2.17% 99.33% 28.63%

CLPCX - Expenses

Operational Fees

CLPCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.62% 0.20% 6.78% 2.06%
Management Fee 1.25% 0.20% 1.75% 92.91%
12b-1 Fee 1.00% 0.00% 1.00% 93.68%
Administrative Fee N/A 0.02% 0.28% 61.35%

Sales Fees

CLPCX 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

CLPCX 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.

CLPCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 205.00% 0.00% 456.80% 87.95%

CLPCX - Distributions

Dividend Yield Analysis

CLPCX Category Low Category High CLPCX % Rank
Dividend Yield 2.07% 0.00% 3.76% 46.10%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

CLPCX Category Low Category High CLPCX % Rank
Net Income Ratio -1.64% -2.54% 14.24% 61.48%

Capital Gain Distribution Analysis

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

Distributions History

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CLPCX - Fund Manager Analysis

Managers

Afshin Rahbari


Start Date

Tenure

Tenure Rank

Sep 30, 2020

1.67

1.7%

Luke Rahbari, a Member and Portfolio Manager of Equity Armor since 2011, has served as a Portfolio Manager of the Fund since 2019. He is also a Member of Tremis, LLC, a Cryptocurrency mining and trading operations firm, since 2017 and a Member of Equity Armor Advisers, LLC, Macro Growth Advisers, LLC, and Lone Star Equity Armor Advisors, LLC since 2016. Prior to founding Equity Armor in 2011, Mr. Rahbari served as an Asset Manager of Peachtree Asset Management (2007 to 2011), worked on the Institutional Equity Derivatives Desk of Toronto Dominion Bank (2002-2006) and was a Floor Trader, Market Maker, Specialist Registered Options of LETCO Trading (1994 to 2002). Mr. Rahbari earned his Bachelor of Business Administration from Eastern Michigan University and a Masters of Business Administration from the University of Chicago, Graduate School of Business.

Joseph Tigay


Start Date

Tenure

Tenure Rank

Sep 30, 2020

1.67

1.7%

Joseph Tigay, Chief Trading Officer and a Portfolio Manager, will serve as the Portfolio Managers of the Fund and will be primarily responsible for the day-to-day management of the Fund’s portfolio.

Brian Stutland


Start Date

Tenure

Tenure Rank

Sep 30, 2020

1.67

1.7%

Brian Stutland, Managing Partner, Chief Investment Officer and Chief Compliance Officer of Equity Armor since 2011, has served as the Fund’s Lead Portfolio Manager since 2019. He is also a Member of Tremis, LLC, a Cryptocurrency mining and trading operations firm, since 2017 and a Member of Equity Armor Advisers, LLC, Macro Growth Advisers, LLC, and Lone Star Equity Armor Advisors, LLC since 2016. Prior to founding Equity Armor in 2011, Mr. Stutland was the Managing Member and Floor Trader of Stutland Equities, LLC (2005 to 2011) .Prior to starting Stutland Equities, LLC in 2005, and while studying for his Masters degree, Brian Stutland became a trader with LETCO, one of the principal trading groups on the Chicago Board Options Exchange (“CBOE”), where he managed portfolio positions and made options markets for blue chip and Internet stocks. Mr. Stutland established his own floor trading business in 2002, trading an entire portfolio of stocks as a proprietary market making CBOE Member. After forming Stutland Equities, he pioneered the shift to electronic options trading, becoming one of the first Remote Market Makers on the CBOE. By 2006, he continued to trail blaze as one of the first traders to assume positions in VIX Volatility futures and options. He graduated Cum Laude in 1997 from the University of Michigan with a B.S.E. in Chemical Engineering and later received a M.S.E. in Biomedical Engineering from the University of Michigan in 1999.

Tenure Analysis

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