Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
5.2%
1 yr return
7.6%
3 Yr Avg Return
1.3%
5 Yr Avg Return
2.9%
Net Assets
$55.4 M
Holdings in Top 10
66.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.14%
SALES FEES
Front Load N/A
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 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
IIXIX - Profile
Distributions
- YTD Total Return 5.2%
- 3 Yr Annualized Total Return 1.3%
- 5 Yr Annualized Total Return 2.9%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 3.02%
- Dividend Yield 0.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameCatalyst Insider Income Fund
-
Fund Family NameMutual Fund Series Trust
-
Inception DateJul 29, 2014
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDavid 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.
IIXIX - Performance
Return Ranking - Trailing
Period | IIXIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.2% | 2.9% | 16.1% | 36.88% |
1 Yr | 7.6% | 4.7% | 25.9% | 77.76% |
3 Yr | 1.3%* | -5.0% | 4.5% | 53.58% |
5 Yr | 2.9%* | -3.5% | 5.1% | 7.58% |
10 Yr | 2.6%* | -18.9% | 170.5% | 6.55% |
* Annualized
Return Ranking - Calendar
Period | IIXIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.8% | -1.6% | 7.6% | 2.10% |
2022 | -11.6% | -17.7% | -2.6% | 95.34% |
2021 | -0.6% | -4.0% | 4.4% | 7.19% |
2020 | 2.8% | -7.1% | 7.6% | 21.63% |
2019 | 2.6% | -2.3% | 9.3% | 26.16% |
Total Return Ranking - Trailing
Period | IIXIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.2% | 2.9% | 16.1% | 36.88% |
1 Yr | 7.6% | 4.7% | 25.9% | 77.76% |
3 Yr | 1.3%* | -5.0% | 4.5% | 53.58% |
5 Yr | 2.9%* | -3.5% | 5.1% | 7.58% |
10 Yr | 2.6%* | -18.9% | 170.5% | 6.55% |
* Annualized
Total Return Ranking - Calendar
Period | IIXIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.2% | 1.8% | 15.2% | 3.24% |
2022 | -7.7% | -17.3% | -1.3% | 93.01% |
2021 | 2.4% | -2.7% | 7.7% | 5.19% |
2020 | 6.6% | -2.4% | 14.5% | 7.96% |
2019 | 5.7% | 0.6% | 12.6% | 21.94% |
NAV & Total Return History
IIXIX - Holdings
Concentration Analysis
IIXIX | Category Low | Category High | IIXIX % Rank | |
---|---|---|---|---|
Net Assets | 55.4 M | 14.5 K | 57.3 B | 94.11% |
Number of Holdings | 20 | 2 | 8314 | 92.78% |
Net Assets in Top 10 | 37 M | 1.02 M | 7.47 B | 87.26% |
Weighting of Top 10 | 66.75% | 1.9% | 112.6% | 7.79% |
Top 10 Holdings
- TWO 6 1/4 01/15/26 12.11%
- RWT 5 5/8 07/15/24 8.33%
- SOFI 0 10/15/26 7.82%
- ABK 5.1 PERP 7.48%
- PSEC 6 3/8 03/01/25 7.38%
- PSEC 3.706 01/22/26 4.91%
- ARCC 4 1/4 03/01/25 4.81%
- NMFC 7 1/2 10/15/25 4.74%
- VRSN 5 1/4 04/01/25 4.69%
- AVGO 3 5/8 10/15/24 4.48%
Asset Allocation
Weighting | Return Low | Return High | IIXIX % Rank | |
---|---|---|---|---|
Bonds | 94.34% | 0.00% | 131.20% | 24.71% |
Convertible Bonds | 27.71% | 0.00% | 27.71% | 0.38% |
Cash | 5.66% | -20.59% | 71.38% | 28.14% |
Stocks | 0.00% | 0.00% | 99.91% | 49.05% |
Preferred Stocks | 0.00% | 0.00% | 24.12% | 46.58% |
Other | 0.00% | -0.97% | 71.57% | 82.32% |
Bond Sector Breakdown
Weighting | Return Low | Return High | IIXIX % Rank | |
---|---|---|---|---|
Corporate | 97.74% | 0.00% | 99.82% | 2.48% |
Cash & Equivalents | 3.98% | 0.00% | 71.38% | 35.17% |
Derivative | 0.00% | -0.44% | 27.90% | 49.05% |
Securitized | 0.00% | 0.00% | 97.27% | 96.57% |
Municipal | 0.00% | 0.00% | 14.41% | 69.52% |
Government | 0.00% | 0.00% | 73.63% | 96.76% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | IIXIX % Rank | |
---|---|---|---|---|
US | 94.34% | 0.00% | 131.20% | 22.24% |
Non US | 0.00% | 0.00% | 82.20% | 47.91% |
IIXIX - Expenses
Operational Fees
IIXIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.14% | 0.01% | 3.24% | 19.27% |
Management Fee | 0.75% | 0.00% | 1.19% | 98.48% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 4.80% |
Administrative Fee | N/A | 0.01% | 0.41% | 61.63% |
Sales Fees
IIXIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 5.75% | N/A |
Deferred Load | N/A | 0.50% | 4.00% | N/A |
Trading Fees
IIXIX 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.
IIXIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 89.00% | 2.00% | 500.00% | 59.66% |
IIXIX - Distributions
Dividend Yield Analysis
IIXIX | Category Low | Category High | IIXIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.16% | 0.00% | 11.11% | 14.07% |
Dividend Distribution Analysis
IIXIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annual | Monthly | Monthly |
Net Income Ratio Analysis
IIXIX | Category Low | Category High | IIXIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.02% | -1.27% | 4.98% | 2.13% |
Capital Gain Distribution Analysis
IIXIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 30, 2024 | $0.038 | OrdinaryDividend |
Aug 30, 2024 | $0.001 | OrdinaryDividend |
Jul 31, 2024 | $0.039 | OrdinaryDividend |
Mar 28, 2024 | $0.034 | OrdinaryDividend |
Feb 29, 2024 | $0.036 | OrdinaryDividend |
Jan 31, 2024 | $0.040 | OrdinaryDividend |
Dec 29, 2023 | $0.001 | OrdinaryDividend |
Nov 30, 2023 | $0.036 | OrdinaryDividend |
Oct 31, 2023 | $0.039 | OrdinaryDividend |
Sep 29, 2023 | $0.035 | OrdinaryDividend |
Aug 31, 2023 | $0.001 | OrdinaryDividend |
Jul 31, 2023 | $0.037 | OrdinaryDividend |
Jun 30, 2023 | $0.001 | OrdinaryDividend |
May 31, 2023 | $0.039 | OrdinaryDividend |
Apr 28, 2023 | $0.033 | OrdinaryDividend |
Mar 31, 2023 | $0.037 | OrdinaryDividend |
Feb 28, 2023 | $0.033 | OrdinaryDividend |
Jan 31, 2023 | $0.040 | OrdinaryDividend |
Dec 30, 2022 | $0.036 | OrdinaryDividend |
Nov 30, 2022 | $0.037 | OrdinaryDividend |
Oct 28, 2022 | $0.039 | OrdinaryDividend |
Sep 30, 2022 | $0.036 | OrdinaryDividend |
Aug 31, 2022 | $0.039 | OrdinaryDividend |
Jul 29, 2022 | $0.031 | OrdinaryDividend |
Jun 30, 2022 | $0.027 | OrdinaryDividend |
May 31, 2022 | $0.026 | OrdinaryDividend |
Apr 29, 2022 | $0.025 | OrdinaryDividend |
Mar 31, 2022 | $0.025 | OrdinaryDividend |
Feb 28, 2022 | $0.023 | OrdinaryDividend |
Jan 31, 2022 | $0.024 | OrdinaryDividend |
Dec 31, 2021 | $0.020 | OrdinaryDividend |
Dec 14, 2021 | $0.005 | OrdinaryDividend |
Dec 14, 2021 | $0.027 | CapitalGainLongTerm |
Nov 30, 2021 | $0.022 | OrdinaryDividend |
Oct 29, 2021 | $0.019 | OrdinaryDividend |
Sep 30, 2021 | $0.033 | OrdinaryDividend |
Aug 31, 2021 | $0.022 | OrdinaryDividend |
Jun 30, 2021 | $0.022 | OrdinaryDividend |
May 28, 2021 | $0.020 | OrdinaryDividend |
Apr 30, 2021 | $0.019 | OrdinaryDividend |
Mar 31, 2021 | $0.023 | OrdinaryDividend |
Feb 26, 2021 | $0.019 | OrdinaryDividend |
Jan 29, 2021 | $0.021 | OrdinaryDividend |
Dec 31, 2020 | $0.024 | OrdinaryDividend |
Nov 30, 2020 | $0.032 | OrdinaryDividend |
Oct 30, 2020 | $0.026 | OrdinaryDividend |
Sep 30, 2020 | $0.033 | OrdinaryDividend |
Aug 31, 2020 | $0.035 | OrdinaryDividend |
Jul 31, 2020 | $0.036 | OrdinaryDividend |
Jun 30, 2020 | $0.035 | OrdinaryDividend |
May 29, 2020 | $0.028 | OrdinaryDividend |
Apr 30, 2020 | $0.024 | OrdinaryDividend |
Mar 31, 2020 | $0.027 | OrdinaryDividend |
Feb 28, 2020 | $0.022 | OrdinaryDividend |
Jan 31, 2020 | $0.023 | OrdinaryDividend |
Dec 30, 2019 | $0.025 | OrdinaryDividend |
Dec 13, 2019 | $0.019 | CapitalGainShortTerm |
Dec 13, 2019 | $0.005 | CapitalGainLongTerm |
Nov 27, 2019 | $0.024 | OrdinaryDividend |
Oct 30, 2019 | $0.026 | OrdinaryDividend |
Sep 27, 2019 | $0.022 | OrdinaryDividend |
Aug 29, 2019 | $0.021 | OrdinaryDividend |
Jul 30, 2019 | $0.020 | OrdinaryDividend |
Jun 27, 2019 | $0.019 | OrdinaryDividend |
May 30, 2019 | $0.024 | OrdinaryDividend |
Apr 29, 2019 | $0.023 | OrdinaryDividend |
Mar 28, 2019 | $0.025 | OrdinaryDividend |
Feb 27, 2019 | $0.021 | OrdinaryDividend |
Jan 30, 2019 | $0.013 | OrdinaryDividend |
Dec 28, 2018 | $0.024 | OrdinaryDividend |
Nov 29, 2018 | $0.017 | OrdinaryDividend |
Oct 30, 2018 | $0.020 | OrdinaryDividend |
Sep 27, 2018 | $0.014 | OrdinaryDividend |
Aug 30, 2018 | $0.019 | OrdinaryDividend |
Jul 30, 2018 | $0.017 | OrdinaryDividend |
Jun 28, 2018 | $0.019 | OrdinaryDividend |
May 30, 2018 | $0.022 | OrdinaryDividend |
Apr 27, 2018 | $0.020 | OrdinaryDividend |
Mar 28, 2018 | $0.019 | OrdinaryDividend |
Feb 27, 2018 | $0.018 | OrdinaryDividend |
Jan 30, 2018 | $0.015 | OrdinaryDividend |
Dec 28, 2017 | $0.024 | OrdinaryDividend |
Nov 29, 2017 | $0.020 | OrdinaryDividend |
Oct 30, 2017 | $0.019 | OrdinaryDividend |
Sep 28, 2017 | $0.018 | OrdinaryDividend |
Aug 30, 2017 | $0.018 | OrdinaryDividend |
Jul 28, 2017 | $0.013 | OrdinaryDividend |
Jun 29, 2017 | $0.021 | OrdinaryDividend |
May 30, 2017 | $0.016 | OrdinaryDividend |
Apr 27, 2017 | $0.010 | OrdinaryDividend |
Mar 30, 2017 | $0.020 | OrdinaryDividend |
Feb 27, 2017 | $0.019 | OrdinaryDividend |
Jan 30, 2017 | $0.018 | OrdinaryDividend |
Dec 29, 2016 | $0.018 | OrdinaryDividend |
Nov 29, 2016 | $0.016 | OrdinaryDividend |
Oct 28, 2016 | $0.003 | OrdinaryDividend |
Sep 29, 2016 | $0.029 | OrdinaryDividend |
Aug 30, 2016 | $0.008 | OrdinaryDividend |
Jul 28, 2016 | $0.012 | OrdinaryDividend |
Jun 29, 2016 | $0.018 | OrdinaryDividend |
May 27, 2016 | $0.016 | OrdinaryDividend |
Apr 28, 2016 | $0.017 | OrdinaryDividend |
Mar 30, 2016 | $0.023 | OrdinaryDividend |
Feb 26, 2016 | $0.024 | OrdinaryDividend |
Jan 28, 2016 | $0.021 | OrdinaryDividend |
Dec 30, 2015 | $0.029 | OrdinaryDividend |
Nov 27, 2015 | $0.018 | OrdinaryDividend |
Oct 29, 2015 | $0.021 | OrdinaryDividend |
Sep 29, 2015 | $0.019 | OrdinaryDividend |
Aug 28, 2015 | $0.016 | OrdinaryDividend |
Jul 30, 2015 | $0.012 | OrdinaryDividend |
Jun 29, 2015 | $0.014 | OrdinaryDividend |
May 28, 2015 | $0.018 | OrdinaryDividend |
Apr 29, 2015 | $0.019 | OrdinaryDividend |
Mar 30, 2015 | $0.017 | OrdinaryDividend |
Feb 26, 2015 | $0.015 | OrdinaryDividend |
Jan 29, 2015 | $0.011 | OrdinaryDividend |
Dec 30, 2014 | $0.021 | OrdinaryDividend |
Nov 26, 2014 | $0.015 | OrdinaryDividend |
Oct 30, 2014 | $0.034 | OrdinaryDividend |
Sep 29, 2014 | $0.032 | OrdinaryDividend |
IIXIX - 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 |