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Trending ETFs

Name

As of 10/07/2024

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

$9.11

$55.4 M

4.70%

$0.43

1.39%

Vitals

YTD Return

4.9%

1 yr return

7.3%

3 Yr Avg Return

1.1%

5 Yr Avg Return

2.7%

Net Assets

$55.4 M

Holdings in Top 10

66.8%

52 WEEK LOW AND HIGH

$9.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.39%

SALES FEES

Front Load 4.75%

Deferred Load N/A

TRADING FEES

Turnover 89.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$2,500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/07/2024

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

$9.11

$55.4 M

4.70%

$0.43

1.39%

IIXAX - Profile

Distributions

  • YTD Total Return 4.9%
  • 3 Yr Annualized Total Return 1.1%
  • 5 Yr Annualized Total Return 2.7%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.87%
DIVIDENDS
  • Dividend Yield 4.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Catalyst Insider Income Fund
  • Fund Family Name
    Mutual Fund Series Trust
  • Inception Date
    Jul 29, 2014
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Miller

Fund Description

The Fund seeks to achieve its investment objective by investing primarily in short-term U.S. corporate bonds issued by companies, including real estate investment trusts (“REITs”), whose executives are purchasing shares of the company’s common stock. The Fund may invest in corporate bonds, including convertible bonds, of any credit quality (including “junk” bonds), effective maturity or average modified duration, but intends to hold a majority of the portfolio in investment grade corporate bonds (rated BBB or higher by S&P Global Ratings or the equivalent by another nationally recognized statistical ratings organization) with an average effective maturity of less than four years and an average duration of less than three and a half years.

Catalyst Capital Advisors LLC (the “Advisor”) uses public information that is filed with the Securities and Exchange Commission (“SEC”) on corporate insider buying activity for its investment decisions. The Advisor’s research and quantitative back-testing of insider trading data over long periods of time has resulted in the development of a proprietary method of analyzing insider trading activity that it believes can substantially reduce the likelihood of bankruptcy. The underlying thesis is that corporate insiders know more about the prospects of the company than anybody else and would not take a stake in the equity of their company if the company were in jeopardy of declaring bankruptcy.

The Advisor’s investment process focuses on insider identities (position in the company), motivations, insider trading trends, trading volumes, firm size and other factors to select what the Advisor believes to be the most significant insider buying signals – the signals that are historically associated with companies that have avoided bankruptcy. Corporate bonds meeting the insider activity screen criterion are analyzed and selected in an attempt to establish a portfolio with the target credit quality, duration, maturity and SEC yield. The Advisor generally intends to hold bonds to maturity but positions may be sold if insider trading trends reverse in a manner the Advisor believes to be significant or if the Advisor believes the bonds no longer offer favorable risk-adjusted return potential.

The Fund is classified as “non-diversified” for purposes of the Investment Company Act of 1940 (the “1940 Act”), which means a relatively high percentage of the Fund’s assets may be invested in the securities of a limited number of companies that could be in the same or related economic sectors.

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IIXAX - Performance

Return Ranking - Trailing

Period IIXAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.9% 1.9% 16.0% 34.41%
1 Yr 7.3% 4.4% 25.2% 73.76%
3 Yr 1.1%* -5.2% 4.5% 61.32%
5 Yr 2.7%* -3.7% 5.0% 10.25%
10 Yr 2.3%* -18.9% 170.4% 14.25%

* Annualized

Return Ranking - Calendar

Period IIXAX Return Category Return Low Category Return High Rank in Category (%)
2023 3.8% -1.6% 7.6% 1.72%
2022 -11.6% -17.7% -2.6% 95.15%
2021 -0.7% -4.0% 4.4% 10.38%
2020 2.7% -7.1% 7.6% 24.69%
2019 2.6% -2.3% 9.3% 25.95%

Total Return Ranking - Trailing

Period IIXAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.9% 1.9% 16.0% 34.41%
1 Yr 7.3% 4.4% 25.2% 73.76%
3 Yr 1.1%* -5.2% 4.5% 61.32%
5 Yr 2.7%* -3.7% 5.0% 10.25%
10 Yr 2.3%* -18.9% 170.4% 14.25%

* Annualized

Total Return Ranking - Calendar

Period IIXAX Return Category Return Low Category Return High Rank in Category (%)
2023 8.0% 1.8% 15.2% 3.82%
2022 -7.9% -17.3% -1.3% 93.98%
2021 2.1% -2.7% 7.7% 6.19%
2020 6.4% -2.4% 14.5% 9.39%
2019 5.5% 0.6% 12.6% 25.11%

NAV & Total Return History


IIXAX - Holdings

Concentration Analysis

IIXAX Category Low Category High IIXAX % Rank
Net Assets 55.4 M 14.5 K 57.3 B 94.30%
Number of Holdings 20 2 8314 92.97%
Net Assets in Top 10 37 M 1.02 M 7.47 B 87.45%
Weighting of Top 10 66.75% 1.9% 112.6% 7.98%

Top 10 Holdings

  1. TWO 6 1/4 01/15/26 12.11%
  2. RWT 5 5/8 07/15/24 8.33%
  3. SOFI 0 10/15/26 7.82%
  4. ABK 5.1 PERP 7.48%
  5. PSEC 6 3/8 03/01/25 7.38%
  6. PSEC 3.706 01/22/26 4.91%
  7. ARCC 4 1/4 03/01/25 4.81%
  8. NMFC 7 1/2 10/15/25 4.74%
  9. VRSN 5 1/4 04/01/25 4.69%
  10. AVGO 3 5/8 10/15/24 4.48%

Asset Allocation

Weighting Return Low Return High IIXAX % Rank
Bonds
94.34% 0.00% 131.20% 24.90%
Convertible Bonds
27.71% 0.00% 27.71% 0.57%
Cash
5.66% -20.59% 71.38% 28.33%
Stocks
0.00% 0.00% 99.91% 35.93%
Preferred Stocks
0.00% 0.00% 24.12% 31.75%
Other
0.00% -0.97% 71.57% 77.38%

Bond Sector Breakdown

Weighting Return Low Return High IIXAX % Rank
Corporate
97.74% 0.00% 99.82% 2.67%
Cash & Equivalents
3.98% 0.00% 71.38% 35.36%
Derivative
0.00% -0.44% 27.90% 40.49%
Securitized
0.00% 0.00% 97.27% 96.00%
Municipal
0.00% 0.00% 14.41% 60.57%
Government
0.00% 0.00% 73.63% 96.00%

Bond Geographic Breakdown

Weighting Return Low Return High IIXAX % Rank
US
94.34% 0.00% 131.20% 22.43%
Non US
0.00% 0.00% 82.20% 32.89%

IIXAX - Expenses

Operational Fees

IIXAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.39% 0.01% 3.24% 11.26%
Management Fee 0.75% 0.00% 1.19% 98.29%
12b-1 Fee 0.25% 0.00% 1.00% 32.10%
Administrative Fee N/A 0.01% 0.41% 60.47%

Sales Fees

IIXAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.75% 0.50% 5.75% 5.41%
Deferred Load N/A 0.50% 4.00% N/A

Trading Fees

IIXAX 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.

IIXAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 89.00% 2.00% 500.00% 60.09%

IIXAX - Distributions

Dividend Yield Analysis

IIXAX Category Low Category High IIXAX % Rank
Dividend Yield 4.70% 0.00% 11.11% 23.19%

Dividend Distribution Analysis

IIXAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

IIXAX Category Low Category High IIXAX % Rank
Net Income Ratio 2.87% -1.27% 4.98% 2.51%

Capital Gain Distribution Analysis

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

Distributions History

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IIXAX - Fund Manager Analysis

Managers

David Miller


Start Date

Tenure

Tenure Rank

Jul 29, 2014

7.84

7.8%

David Miller, Owner and Chief Investment Officer of Rational Advisors, Inc. since 2016. He is a co-founder and has served as Chief Investment Officer of Catalyst Capital Advisors LLC since 2006, and is responsible for the day-to-day management of several funds managed by Catalyst. Mr. Miller is also a member of Catalyst International Advisors LLC since 2019, Insights Media LLC since 2019, and Catalyst Insurance Corporation II since 2018. Prior to founding Catalyst, Mr. Miller was the CEO of Investment Catalyst, an investment newsletter he founded in 2005. The Investment Catalyst newsletter worked to identify undervalued stocks with a near term catalyst for appreciation. Mr. Miller was a trader with UBS, working on the equity derivatives desk from July 2002 until December 2002. Mr. Miller was the CEO of MovieDaze Media Group, a search engine marketing company that he co-founded in 2003 and sold in 2006. He received a BS in Economics from the University of Pennsylvania, Wharton School and a MBA in Finance from the University of Michigan, Ross School of Business.

Charles Ashley


Start Date

Tenure

Tenure Rank

Nov 01, 2017

4.58

4.6%

Charles Ashley, Portfolio Manager of Rational Advisors, Inc since 2019. Mr. Ashley joined Rational in February 2016 as a senior analyst to provide investment research and assist with the day-to-day management of several mutual funds. He has also served as a portfolio manager at Catalyst since 2017, and joined Catalyst as a senior analyst in February 2016. From 2013 to 2016, he was the Executive Vice President of Absocold Corporation, a privately held white goods manufacturer. From 2006 to 2013, he served in various sales and management roles with Absocold Corporation. His previous experience also includes equity sales and equity research at BMO Capital Markets in 2012. Mr. Ashley has an MBA from the University of Michigan Ross School of Business and a B. A. from the Michigan State University Eli Broad College of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 28.77 6.19 2.41