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The Astor Long/Short ETF Fund was founded on the basis of investing according to macroeconomic indicators. In doing so, the fund seeks to provide positive returns during market expansions by utilizing long equity ETF positioning in diversified non-correlating market averages. During economic contractions, the fund will utilize defensive positioning, which can range from overweighting cash and fixed income to using ETFs with inverse exposure to broad market averages. The fund does not sell short securities.
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| The fund seeks to provide positive returns during market expansions by utilizing long equity ETF positioning in diversified non-correlating market averages. During economic contractions, the fund will utilize defensive positioning, which can range from overweighting cash and fixed income to using ETFs with inverse exposure to broad market averages. |
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| Period* |
Class A
(NAV) |
Class A
(Load) |
Class C
(NAV) |
Class I
(NAV) |
Class R
(NAV) |
60/40
Blend |
| 1-Month |
0.41% |
-4.36% |
0.41% |
0.54% |
0.39% |
0.07% |
| 3-Month |
-0.10% |
-4.82% |
-0.21% |
0.03% |
-0.12% |
4.46% |
| 6-Month |
N/A |
N/A |
-0.82% |
-0.34% |
-0.53% |
8.58% |
| YTD |
-0.10% |
-4.82% |
-0.31% |
-0.03% |
-0.12% |
7.63% |
| 1-Year |
N/A |
N/A |
-11.07% |
-10.19% |
-10.40% |
6.23% |
| 2-Year |
N/A |
N/A |
-1.43% |
-0.45% |
-0.67% |
9.47% |
| Since Inception |
0.18% |
-4.54% |
-0.98% |
0.74% |
0.52% |
N/A |
| Gross Expense |
2.45% |
2.45% |
3.21% |
2.20% |
2.45% |
N/A |
| Net Expense |
1.83% |
1.83% |
2.58% |
1.58% |
1.83% |
N/A |
| Inception Date |
11/30/2011 |
11/30/2011 |
3/12/2010 |
10/19/2009 |
10/19/2009 |
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) |
Class I
(NAV) |
Class R
(NAV) |
60/40
Blend |
| 1-Year |
N/A |
N/A |
-9.67% |
-8.81% |
-8.90% |
8.58% |
| Since Inception |
-0.22% |
-4.92% |
-1.22% |
0.55% |
0.38% |
N/A |
| Inception Date |
11/30/2011 |
11/30/2011 |
3/12/2010 |
10/19/2009 |
10/19/2009 |
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 waive its management fees and to make payments to limit Fund expenses until November 30, 2012 to ensure that the total annual operating expenses of the Fund do not exceed 1.50%, 2.25%, 1.25% and 1.50% for Class A, Class C, Class I and Class R shares, respectively, subject to possible recoupment from the Fund in future years. Please review the Fund's prospectus for more detail. 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 a 60%/40% blend of the S&P 500 Index and the Barclay's Capital U.S. Aggregate Bond Index, respectively, rebalanced monthly. The performance of the blended benchmark is shown for comparison because Astor uses securities which track indices related to these products. Although the programs invest in securities which may invest in assets besides equity securities and fixed income securities and may invest in assets that move inversely with equities, the performance of the blended benchmark is presented because it shows a generally accepted alternative investment strategy investors may use. Both indices' annual returns are calculated using cash quarterly prices with dividends reinvested. The S&P 500 Index is an unmanaged composite of 500 large capitalization companies. S&P 500 is a registered trademark of McGraw-Hill, Inc. The Barclay's Capital U.S. Aggregate Bond Index is a broad index comprised of securities within the U.S. dollar-denominated, investment grade, fixed-rate taxable bond market. An investment cannot be made directly into an index. |
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As of 3/31/13 |
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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 Aggregate Bond Fund (AGG) |
21.2% |
| ProShares Short S&P500 (SH) |
10.2% |
| iShares Barclays 1-3 Year Treasury Bond Fund (SHY) |
7.7% |
| iShares iBoxx Investment Grade Corporate Bond Fund (LQD) |
7.6% |
| PowerShares DB Commodity Index Tracking Fund (DBC) |
5.5% |
| PowerShares DB US Dollar Index Bullish Fund (UUP) |
5.4% |
| SPDR S&P Dividend ETF (SDY) |
5.4% |
| iShares iBoxx $ High Yield Corporate Bond Fund (HYG) |
5.3% |
| iShares Dow Jones US Pharmaceuticals Index Fund (IHE) |
5.3% |
| iShares High Dividend Equity Fund (HDV) |
3.1% |
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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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Inverse exposure: Purchasing investments that are designed to profit from a decline in the value of an underlying benchmark, such as inverse exchange-traded funds, which are generally structured to replicate the opposite (inverse) of the daily performance of the benchmark index minus fees and expenses.
Long: The purchase of exchange-traded funds that are designed to track the performance of an equity index, such as the S&P 500 Index or a more specific index such as the Dow Jones U.S. Telecommunications Sector Index.
Non-correlating market averages: 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.
Short: The purchase of exchange-traded funds that are designed to profit from a decline in the value of an underlying benchmark such as a stock index, generally structured to replicate the opposite (inverse) of the daily performance of the benchmark index minus fees and expenses.
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. The fund engages in hedging or declining-market strategies by investing in inverse ETFs and underlying funds, which could result in significant losses. This fund will not participate in market gains to the extent it holds inverse securities.
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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