Q3 ALL-SEASON SYSTEMATIC OPPORTUNITIES FUND
Name
As of 08/11/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$150 M
Holdings in Top 10
149.2%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.94%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 441.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 08/11/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
QAISX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -1.19%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Quarterly
Fund Details
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Legal NameQ3 ALL-SEASON SYSTEMATIC OPPORTUNITIES FUND
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Fund Family NameQ3 Asset Management Corporation
-
Inception DateDec 30, 2019
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
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ManagerBradford Giaimo
Fund Description
Under normal circumstances, the Fund will invest primarily in shares of other investment companies, including exchange-traded funds (“ETFs”) and open-end mutual funds (collectively, “Portfolio Funds”) and in equity call options. The Fund invests using the Adviser’s tactical, systematic strategy that relies primarily on a proprietary model incorporating mean-reversion analysis. The Adviser defines “mean reversion” as the concept that the market price of a security will eventually return to a price within its recent historical trading range. For example, if the price of a given security were to drop quickly, the Adviser’s analysis may indicate this to be a buying opportunity for that security, based on the belief that the price for the security is likely to “revert” back to a higher price more consistent with the security’s recent historical trading range.
The Adviser has developed a proprietary algorithm to calculate the historical trading range for a given security and to monitor for instances when the security trades outside this range and therefore, taking into account prevailing market conditions and short term price movement analysis, a short term opportunity for gain may exist. The model generally defines historical trading range as the short-term (1-10 days) spread between a security’s highest and lowest trade
price during that time period. The model is based on market research covering over 30 years of historical equity index data and seeks to take into account the prevailing equity market environment, distinguishing between an equity market environment that is “bullish” (i.e., equity markets are generally experiencing upward price trends, generally defined by the Adviser as when a market is trading above its 200-day moving average) or “bearish” (i.e., equity markets are generally experiencing negative price trends). The model also incorporates analysis of price movements within a shorter time frame (1-3 days) to determine if a security has moved below its recent historical range. After evaluating these quantitative parameters, the model produces daily signals (“buy” or “no buy”) for a particular security indicating whether or not, taking into account the prevailing market environment, a short term opportunity has been identified.
Trades are then exited when the model indicates that the trading price for a security has risen above (or gone below) the model’s predefined price thresholds.
The Fund will invest primarily in index-based Portfolio Funds that are representative of broad segments of the overall equity markets (generally the S&P 500 and the NASDAQ 100). The Adviser also may purchase call options on these indexes to seek to enhance the Fund’s return.
When the Adviser’s signals prompt the Fund to divest, in part or in whole, from equity Portfolio Funds, the Fund will invest in defensively-oriented investments, which the Adviser generally defines as money market Portfolio Funds and ultra-short term bond Portfolio Funds (“Defensive Investments”). The Adviser selects among Defensive Investment based on the Adviser’s assessment of their current yield. The Fund will invest in Defensive Investments, sometimes for extended periods of time, as the Adviser awaits “buy” signals in the equity markets. There are no restrictions on the maturity, duration or credit quality of the Fund’s Defensive Investments, and investments are expected to include those rated below investment grade (commonly referred to as “high yield” or “junk” bonds). At times, the Systematic Opportunities Fund’s investments may be indirectly focused on one or more sectors or areas of the economy.
Because the Fund seeks to take advantage of shorter-term opportunities that are presented, the Fund generally takes positions in Portfolio Funds for periods of 1-14 days. The Fund’s portfolio is therefore expected to be traded frequently and will likely experience high portfolio turnover.
QAISX - Performance
Return Ranking - Trailing
Period | QAISX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -5.2% | 12.3% | 15.68% |
1 Yr | N/A | -7.1% | 50.6% | 4.24% |
3 Yr | N/A* | -23.6% | 8.8% | 32.30% |
5 Yr | N/A* | -11.9% | 16.6% | N/A |
10 Yr | N/A* | -4.8% | 9.7% | N/A |
* Annualized
Return Ranking - Calendar
Period | QAISX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -18.9% | 60.2% | 98.70% |
2022 | -11.0% | -48.5% | 0.1% | 18.02% |
2021 | -0.4% | -19.0% | 48.3% | 71.95% |
2020 | N/A | -16.5% | 52.8% | N/A |
2019 | N/A | -8.5% | 27.3% | N/A |
Total Return Ranking - Trailing
Period | QAISX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -5.2% | 12.3% | 15.68% |
1 Yr | N/A | -7.1% | 50.6% | 4.24% |
3 Yr | N/A* | -23.6% | 8.8% | 32.30% |
5 Yr | N/A* | -11.9% | 16.6% | N/A |
10 Yr | N/A* | -4.8% | 9.7% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | QAISX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -11.7% | 61.8% | 99.57% |
2022 | -11.0% | -48.5% | 4.6% | 31.98% |
2021 | 5.8% | -14.2% | 48.3% | 81.45% |
2020 | N/A | -11.7% | 77.4% | N/A |
2019 | N/A | -3.9% | 30.2% | N/A |
NAV & Total Return History
QAISX - Holdings
Concentration Analysis
QAISX | Category Low | Category High | QAISX % Rank | |
---|---|---|---|---|
Net Assets | 150 M | 1.98 M | 13.3 B | 56.70% |
Number of Holdings | 3 | 2 | 1954 | 98.66% |
Net Assets in Top 10 | 236 M | 1.16 M | 10.4 B | 36.61% |
Weighting of Top 10 | 149.22% | 0.4% | 149.2% | 0.45% |
Top 10 Holdings
- Vanguard SP 500 ETF 49.89%
- Invesco QQQ Trust Series 1 49.70%
- FIRST AMERICAN GOVERNMENT OBLIGATIONS FUND CLASS X 49.63%
Asset Allocation
Weighting | Return Low | Return High | QAISX % Rank | |
---|---|---|---|---|
Stocks | 99.59% | 0.00% | 137.56% | 8.04% |
Cash | 49.63% | -33.22% | 99.05% | 6.70% |
Convertible Bonds | 1.59% | 0.00% | 8.92% | 10.27% |
Preferred Stocks | 0.00% | 0.00% | 5.36% | 79.91% |
Other | 0.00% | -29.71% | 128.17% | 78.57% |
Bonds | 0.00% | 0.00% | 106.59% | 83.48% |
Stock Sector Breakdown
Weighting | Return Low | Return High | QAISX % Rank | |
---|---|---|---|---|
Energy | 33.76% | 0.00% | 60.89% | 6.84% |
Healthcare | 17.44% | 0.00% | 38.63% | 22.63% |
Basic Materials | 16.71% | 0.00% | 56.73% | 3.68% |
Utilities | 16.19% | 0.00% | 91.12% | 6.32% |
Consumer Cyclical | 14.80% | 0.00% | 25.83% | 5.79% |
Consumer Defense | 0.85% | 0.00% | 37.51% | 90.00% |
Technology | 0.11% | 0.00% | 85.77% | 90.53% |
Industrials | 0.10% | 0.00% | 23.85% | 94.74% |
Communication Services | 0.04% | 0.00% | 21.61% | 85.26% |
Real Estate | 0.00% | 0.00% | 99.45% | 96.84% |
Financial Services | 0.00% | 0.00% | 98.22% | 97.37% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | QAISX % Rank | |
---|---|---|---|---|
US | 99.59% | 0.00% | 137.56% | 7.14% |
Non US | 0.00% | -1.94% | 41.50% | 79.02% |
QAISX - Expenses
Operational Fees
QAISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.94% | 0.49% | 10.24% | 38.84% |
Management Fee | 1.00% | 0.00% | 1.50% | 80.80% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 20.95% |
Administrative Fee | N/A | 0.05% | 0.70% | N/A |
Sales Fees
QAISX 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% | 1.00% | N/A |
Trading Fees
QAISX 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.
QAISX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 441.00% | 1.75% | 441.00% | 100.00% |
QAISX - Distributions
Dividend Yield Analysis
QAISX | Category Low | Category High | QAISX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 25.18% | 57.14% |
Dividend Distribution Analysis
QAISX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
QAISX | Category Low | Category High | QAISX % Rank | |
---|---|---|---|---|
Net Income Ratio | -1.19% | -2.01% | 13.72% | 91.96% |
Capital Gain Distribution Analysis
QAISX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 01, 2024 | $0.055 | OrdinaryDividend |
Oct 02, 2023 | $0.042 | OrdinaryDividend |
Jul 03, 2023 | $0.038 | OrdinaryDividend |
QAISX - Fund Manager Analysis
Managers
Bradford Giaimo
Start Date
Tenure
Tenure Rank
Dec 30, 2019
2.42
2.4%
Brad’s career in the financial industry began in 1982 on the floor of Commodities Exchange in New York City. After two years apprenticing at various wirehouses he was offered the opportunity to work for arguably one of the most successful hedge fund managers of the last three decades, Paul Tudor Jones. While at Tudor Investment Corporation (1984-87) his understanding of the markets grew exponentially. After a year of trading proprietary funds for Tudor, he left the firm and became an independent trader in the Dollar Index pit. The next 12 years were spent honing his trading skills and learning first-hand the importance of risk management. In 2003 he moved to Bloomfield Hills, Michigan where the concept for Q3 began. He is a graduate of the University of Hartford and holds the Series 3 (inactive) and 65 licenses.
Adam Quiring
Start Date
Tenure
Tenure Rank
Dec 30, 2019
2.42
2.4%
Adam brings a wealth of knowledge and experience to the team at Q3 Asset Management. He has spent the last 10 years of his career working for both traditional and alternative investment firms. Throughout this time, his efforts have focused upon providing a diverse blend of quantitative investment strategies to the retail investment advisory community. Adam began his career on the floor of the Chicago Board Options Exchange, where he worked for a proprietary trading group specializing in equity options. He graduated from Northern Michigan University with a degree in Business and holds the Series 65 license.
Bruce Greig
Start Date
Tenure
Tenure Rank
Dec 30, 2019
2.42
2.4%
Bruce is a seasoned portfolio manager. He has spent the last 25 years developing and managing traditional and alternative investment strategies. He is a firm believer in the effectiveness of diversifying among investment approaches. Bruce serves as the Director of Research at Q3 Asset Management where he heads up the firm’s strategy development. Bruce’s previous experience includes serving as the Associate Investment Officer for a $1 billion+ Registered Investment Advisor, and Portfolio Manager for an alternativeasset investment advisor. He is a graduate of the University of Michigan with degrees in mathematics and statistics and has a Masters of Business Administration from the Ross School of Business at the University of Michigan. He is a Chartered Financial Analyst, Chartered Alternative Investment Analyst, and Chartered Market Technician.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 33.83 | 6.65 | 13.0 |