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Performance data quoted is past performance. Past performance does not guarantee future results. The investment and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month‐end may be obtained by calling (855) 681‐5261. Performance data quoted does not reflect the 1% redemption fee on shares held for 60 days or less. If reflected, total returns would be reduced. Click here for standardized performance.
Click here for the fund’s top 10 holdings.
Correlation is a statistical measure of how two securities move in relation to each other. The correlation coefficient (r) is a measure that determines the degree to which two variable’s movements are associated. The coefficient of determination (r2) is a measure used in statistical model analysis to assess how well a model explains and predicts future outcomes.
Delta is the ratio comparing the change in price of the underlying asset to the corresponding change in the price of a derivative.
Delta-adjusted equity exposure is a representation of the portfolio’s equity exposure which has been adjusted to take into account the combined effect of options and equity positions.
The EPS Growth is the change from year to year in the earnings per share of the S&P 500.
P/E or Price-to-Earnings is a ratio derived by dividing the price of a stock by the earnings per share of the company.
GDP reflects the Gross Domestic Product of a country. It is the monetary value of all the finished goods and services produced within a country’s borders in a specific time period.
The Price to Sales Ratio (P/S) is calculated by dividing the company’s market capitalization by its total sales over a twelve month period.
The Market Capitalization (Market Cap) is the current market value of a company. It is derived by taking the outstanding shares times the current price.
Free cash flow is a measure of financial performance calculated as operating cash flow minus capital expenditures.
Capital expenditure, or CapEx, are funds used by a company to acquire or upgrade physical assets such as property, industrial buildings or equipment. It is often used to undertake new projects or investments by the firm.
Cash Flow is the net amount of cash and cash-equivalents moving into and out of a business.
EBITDA is an acronym for Earnings Before Interest, Taxes, Depreciation, and Amortization expenses. It is a measure used to analyze and compare profitability between companies of different characteristics because it largely eliminates the effect of accounting and financing decisions.
Earnings growth is the annual rate of growth of earnings from investments.
The Standard and Poor’s 500 Index (S&P 500) is a capitalization-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.
The Institute for Supply Management (ISM) Purchasing Managers’ Composite Index is an index which is comprised of surveys from purchasing managers across all sectors of the economy It can be used as an indicator of the economic health of the economy as a whole.
NASDAQ is a global electronic marketplace for buying and selling securities as well as the benchmark index for U.S. technology stocks.
The NASDAQ Composite Index is a broad-based capitalization-weighted index of stocks in the NASDAQ marketplace.
A Put Option is a contract between two parties which grants the owner the ability to sell a specified amount of an underlying security at a specific price within a specific timeframe (also known as exercising the option).
A Covered Put is when you write a put option and you have an offsetting short position in case the option is exercised.
The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership.
The European Central Bank (ECB) is the central bank for the Eurozone.
The Consumer Price Index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food and medical care. It is calculated by taking price changes for each item in the predetermined basket of goods and averaging them. Changes in the CPI are used to assess price changes associated with the cost of living; the CPI is one of the most frequently used statistics for identifying periods of inflation or deflation.
Intercontinental Exchange (ICE) is an American company that owns exchanges for financial and commodity markets, and operates 12 regulated exchanges and marketplaces. This includes ICE futures exchanges in the United States, Canada and Europe, the Liffe futures exchanges in Europe, the New York Stock Exchange equity options exchanges and OTC energy, credit and equity markets.
The Chicago Board Options Exchange (CBOE) Volatility Index (VIX) reflects a market estimate of future volatility based on the weighted average of the implied volatilities for a wide range of strikes. The index is a widely used measure of market risk and is often referred to as the “investor fear gauge”.
EPS Growth is not a measure of the Fund’s future performance.