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Name

As of 07/25/2024

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

Cromwell Long Short Fund

MFLDX | Fund

$22.39

$130 M

2.26%

$0.52

1.95%

Vitals

YTD Return

1.7%

1 yr return

-0.3%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$130 M

Holdings in Top 10

40.0%

52 WEEK LOW AND HIGH

$22.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.95%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 26.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$100,000

IRA

$25,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 07/25/2024

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

Cromwell Long Short Fund

MFLDX | Fund

$22.39

$130 M

2.26%

$0.52

1.95%

MFLDX - Profile

Distributions

  • YTD Total Return 1.7%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.13%
DIVIDENDS
  • Dividend Yield 2.3%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Cromwell Long Short Fund
  • Fund Family Name
    Marketfield Funds
  • Inception Date
    Jul 31, 2007
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Aronstein

Fund Description

The Fund seeks capital appreciation while trying to achieve lower volatility than the broad equity market.
To achieve the Fund’s investment objective, Mutual of America Capital Management, LLC (“MoA” or “Sub-Adviser”), employs a long/short strategy and allocates the Fund’s assets by primarily investing in large and mid-capitalization equity securities. Under normal market conditions, the Sub-Adviser expects to maintain the Fund’s long positions in a range between 80% to 100% of net assets, and its short positions at approximately 20% of net assets, which may range between 10% to 30%, consistent with the Sub-Adviser’s expectations of investment opportunities within the equity market.
The Sub-Adviser primarily utilizes fundamental and quantitative research to construct the Fund’s portfolio. Generally, long positions are held in companies that the Sub-Adviser believes to be undervalued or have superior growth potential relative to its peers, while short positions are held in companies where the opposite is true, or to capture a specific risk identified in the market.
The Fund’s equity securities investments may include common stocks of United States companies of any size, but the Sub-Adviser expects to invest in long and short positions primarily in the large and mid-capitalization segments of the equity market.
The Fund will engage in short sales of securities for hedging purposes and to profit from an anticipated decline in the price of the securities sold short.
The asset allocation strategies utilized by the Sub-Adviser will apply a quantitative screen to prioritize investment opportunities for further fundamental analysis. This quantitative and research-driven process will be applied to both the long and short investment positions of the fund. The Sub-Adviser may select growth stocks or value stocks as it deems appropriate.
The Sub-Adviser may sell a security once it believes it has achieved its expected return or if it believes there are superior investment opportunities available. The Sub-Adviser may also sell securities if its thesis about the security changes or it needs to make portfolio adjustments to stay within portfolio construction guidelines. The Sub-Adviser may cover the short sale of a security once it has achieved its expected return or it believes there are superior investment opportunities available. The Portfolio Managers have a collaborative approach to ensure the construction of a diversified portfolio, while prioritizing the potential for higher returns and minimizing unwanted risks.
Read More

MFLDX - Performance

Return Ranking - Trailing

Period MFLDX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.7% -12.4% 26.1% 91.98%
1 Yr -0.3% -12.7% 36.6% 94.44%
3 Yr N/A* -18.8% 25.0% 18.67%
5 Yr N/A* -4.6% 24.2% 2.70%
10 Yr N/A* -4.4% 9.8% 70.77%

* Annualized

Return Ranking - Calendar

Period MFLDX Return Category Return Low Category Return High Rank in Category (%)
2023 -2.4% -17.3% 43.8% 88.27%
2022 N/A -54.0% 17.4% 35.93%
2021 N/A -40.0% 54.1% 16.15%
2020 N/A -47.6% 88.4% 34.87%
2019 N/A -20.3% 62.6% 82.31%

Total Return Ranking - Trailing

Period MFLDX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.7% -12.4% 26.1% 91.98%
1 Yr -0.3% -12.7% 36.6% 94.44%
3 Yr N/A* -18.8% 25.0% 20.73%
5 Yr N/A* -4.6% 24.2% 6.16%
10 Yr N/A* -4.4% 9.8% 67.69%

* Annualized

Total Return Ranking - Calendar

Period MFLDX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.1% -14.5% 43.8% 93.21%
2022 N/A -54.0% 50.3% 35.93%
2021 N/A -40.0% 61.6% 16.15%
2020 N/A -29.9% 91.0% 34.87%
2019 N/A -17.9% 79.4% 83.67%

NAV & Total Return History

MFLDX - Holdings

Concentration Analysis

MFLDX Category Low Category High MFLDX % Rank
Net Assets 130 M 1.08 M 6.67 B 39.51%
Number of Holdings 49 2 1906 69.14%
Net Assets in Top 10 54 M 639 K 2.38 B 44.44%
Weighting of Top 10 40.04% 2.8% 100.4% 59.26%

Top 10 Holdings

  1. U.S. Bank Money Market Deposit Account 6.78%
  2. Caterpillar Inc 4.07%
  3. ConocoPhillips 4.05%
  4. Nippon Steel Corp 3.98%
  5. Toyota Motor Corp 3.83%
  6. Schlumberger NV 3.57%
  7. Intuitive Surgical Inc 3.56%
  8. Costco Wholesale Corp 3.46%
  9. VanEck Gold Miners ETF/USA 3.43%
  10. Deere Co 3.30%

Asset Allocation

Weighting Return Low Return High MFLDX % Rank
Stocks 		64.23% -0.40% 109.75% 62.35%
Cash 		35.77% 0.00% 100.15% 26.54%
Preferred Stocks 		0.00% 0.00% 7.36% 69.14%
Other 		0.00% -52.70% 99.33% 64.20%
Convertible Bonds 		0.00% -0.02% 4.48% 66.01%
Bonds 		0.00% 0.00% 86.82% 72.84%

Stock Sector Breakdown

Weighting Return Low Return High MFLDX % Rank
Basic Materials 		28.58% 0.00% 28.58% 1.52%
Industrials 		25.12% 0.00% 31.93% 3.79%
Energy 		21.10% 0.00% 32.57% 2.27%
Consumer Cyclical 		6.84% 0.00% 88.83% 83.33%
Consumer Defense 		4.73% 0.00% 33.38% 65.91%
Technology 		4.71% 0.00% 43.24% 90.91%
Financial Services 		3.73% 0.00% 83.83% 93.94%
Real Estate 		2.57% 0.00% 10.93% 37.88%
Healthcare 		1.50% 0.00% 100.00% 98.48%
Communication Services 		0.61% 0.00% 32.32% 93.18%
Utilities 		0.52% 0.00% 21.71% 72.73%

Stock Geographic Breakdown

Weighting Return Low Return High MFLDX % Rank
US 		54.53% -0.40% 109.75% 60.49%
Non US 		9.70% -3.36% 70.87% 10.49%

MFLDX - Expenses

Operational Fees

MFLDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.95% 0.42% 8.51% 59.88%
Management Fee 1.40% 0.00% 2.50% 73.46%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 1.54% N/A

Sales Fees

MFLDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

MFLDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

MFLDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 26.00% 0.00% 479.00% 18.75%

MFLDX - Distributions

Dividend Yield Analysis

MFLDX Category Low Category High MFLDX % Rank
Dividend Yield 2.26% 0.00% 27.22% 35.40%

Dividend Distribution Analysis

MFLDX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

MFLDX Category Low Category High MFLDX % Rank
Net Income Ratio 0.13% -3.33% 2.16% 21.88%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MFLDX - Fund Manager Analysis

Managers

Michael Aronstein

Start Date

Tenure

Tenure Rank

Jul 31, 2007

14.84

14.8%

Michael C. Aronstein is President, Chief Investment Officer and a co-founding partner of Marketfield Asset Management, LLC (and its predecessor firm, which was created in 2007). Mr. Aronstein began his investment career in 1979 at Merrill Lynch, eventually becoming Manager of Global Investment Strategy before departing in 1987 to join Comstock Partners. Mr. Aronstein was the President of Comstock Partners for six years. In 1993, Mr. Aronstein founded West Course Capital, a discretionary commodity management firm. From 2001 to 2004, Mr. Aronstein was Chief Investment Strategist for Preservation Group, a provider of independent macroeconomic and strategic research to professional investors. In 2004, he joined Oscar Gruss & Son Incorporated and served as Chief Investment Strategist until 2012. Mr. Aronstein graduated from Yale College with a Bachelor of Arts in 1974.

Michael Shaoul

Start Date

Tenure

Tenure Rank

Apr 08, 2016

6.15

6.2%

Michael Shaoul, Ph.D. is Chairman, Chief Executive Officer and a co-founding partner of Marketfield Asset Management LLC (and its predecesor firm, which was created in 2007). In 1996 Mr. Shaoul joined Oscar Gruss & Son Incorporated. He became its Chief Executive Officer in 2001 and held this position until 2014. He is Treasurer of American Friends of Tel Aviv University and a member of the Board of North American Friends of Manchester University. He was awarded a Ph.D. in Accounting and Finance from the University of Manchester (UK) in 1992.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 23.55 6.01 7.93

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