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The Astor Active Income ETF Fund seeks to produce yields and income similar to an investment in bonds while attempting to protect capital from fluctuations that negatively affect the value of a portfolio. Fixed income and dividend-yielding equity ETFs will be the primary investments, however, the portfolio may also include exposure to other non-correlating asset classes. The fund attempts to reduce the impact of challenging credit conditions by actively shifting the portfolio along the yield curve based on macroeconomic factors designed to produce returns similar to bonds and bond funds but with lower risk and volatility.
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| The fund seeks to achieve low volatility and minimal principal risk and to provide an attractive current yield commensurate to that of intermediate-term Treasury bonds. Fixed income and dividend-yielding equity ETFs will be the primary investments, however, the fund may also include exposure to other non-correlating asset classes. |
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| Period* |
Class A
(NAV) |
Class A
(Load) |
Class C
(NAV) |
BarCap Agg
Bond Index |
| 1-Month |
0.79% |
-3.97% |
0.70% |
1.11% |
| 3-Month |
0.00% |
-4.78% |
-0.20% |
0.53% |
| Since Inception |
1.50% |
-3.33% |
1.20% |
N/A |
| Gross Expense |
2.65% |
2.65% |
3.40% |
N/A |
| Net Expense |
1.20% |
1.20% |
1.95% |
N/A |
| Inception Date |
11/30/2011 |
11/30/2011 |
11/30/2011 |
N/A |
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| As of 4/30/2012 |
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| Period* |
Class A
(NAV) |
Class A
(Load) |
Class C
(NAV) |
BarCap Agg
Bond Index |
| Since Inception |
0.70% |
-4.10% |
0.50% |
N/A |
| Inception Date |
11/30/2011 |
11/30/2011 |
11/30/2011 |
N/A |
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| As of 3/31/2012 |
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*Returns for periods greater than one year are annualized.
The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. Past performance is no guarantee of future results. The Fund's investment adviser has contractually agreed to reduce its fees and/or absorb expenses of the Fund, at least until November 30, 2012, to ensure that the net annual fund operating expenses will not exceed 1.20% and 1.95% of each class's net assets, for Class A and C shares, respectively. subject to possible recoupment from the Fund in future years. Please review the Fund's prospectus for more detail on the expense waiver. Results shown reflect the waiver, without which the results could have been lower. A Fund's performance, especially for very short periods of time, should not be the sole factor in making your investment decisions. |
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The benchmark is the Barclays Capital U.S. Aggregate Bond Index. The performance of the Barclays Capital U.S. Aggregate Bond Index is shown for comparison because Astor uses index instruments tied to these products. Although the program invest in securities which may invest in assets besides fixed income securities and may invest in assets that move inversely with fixed income, the performance of the Barclays Capital U.S. Aggregate is presented because it is a widely used benchmark and indicator of bond market performance. Barclays Capital U.S. Aggregate annual returns are calculated using Barclays Capital U.S. Aggregate cash quarterly prices with dividends reinvested. The Barclays Capital U.S. Aggregate Bond is comprised of approximately 6,000 publicly traded bonds including U.S. Government, mortgage-backed, corporate and Yankee bonds with an average maturity of approximately 10 years. An investment cannot be made directly into an index. |
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As of 3/31/12 |
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The fund holdings are reported as a percentage of total assets. The asset allocation is presented to illustrate examples of the securities that the fund has bought and the diversity of areas in which the funds may invest, and may not be representative of the fund's current or future investment. Portfolio holdings are subject to change and should not be considered investment advice. |
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| iShares Barclays 1-3 Year Treasury Bond Fund (SHY) |
23.0% |
| iShares Barclays 7-10 Year Treasury Bond Fund (IEF) |
15.4% |
| iShares iBoxx Investment Grade Corporate Bond Fund (LQD) |
11.6% |
| iShares Barclays Aggregate Bond Fund (AGG) |
11.6% |
| Guggenheim Enhanced Short Duration Bond ETF (GSY) |
11.5% |
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| As of 3/31/2012 |
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| The fund holdings are reported as a percentage of total assets. The top holdings may not be representative of the fund's current or future investment and do not include money market instruments. Portfolio holdings are subject to change and should not be considered investment advice. |
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Non-correlating asset classes: Specific categories of the market which generally move in smaller magnitude and/or the opposite direction of the overall market and of each other over successive daily, weekly or monthly time periods.
Principal risk: The risk that an investment's value will be less than the beginning (principal) amount.
Volatility: The degree of movement that an investment experiences, commonly measured by using standard deviation.
Yield curve: The comparison of interest rates for fixed income products with different maturity dates, commonly plotted on a chart with yield on the y-axis and maturity on the x-axis.
Mutual funds involve risk including the possible loss of principal.
The fund achieves its investment objective by primarily investing in exchange-traded funds (ETFs). An ETF is a type of investment company whose investment objective is to achieve the same return as a particular market index. An ETF will invest in either all of the securities or a representative sample of the securities included in the index. ETFs and underlying funds are subject to investment advisory and other expenses, which will be indirectly paid by the fund. As a result, your cost of investing in the fund will be higher than the cost of investing directly in ETFs or underlying funds and may be higher than other mutual funds that invest directly in stocks, bond or other assets.
The fund may purchase ETFs and underlying funds that invest in "alternative asset" or "specialty" market segments. The risks and volatility of these investments are linked to narrow segments of the economy such as commodities, real estate, or currency exchange rates and may include leverage, which magnifies the changes in the value of the ETF or underlying fund. When the fund invest in fixed-income ETFs or underlying funds the value of your investment in the funds will fluctuate with changes in interest rates. Debt issuers may not make interest or principal payments, resulting in losses to the funds. In addition, the credit quality of securities held by an ETF or underlying fund may be lowered if an issuer's financial condition changes.
There is no guarantee that the Astor investment programs or funds will achieve their objectives, generate positive returns, or avoid losses.
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