Modern Capital Tactical Income Fund
as of Apr 30, 2025
Symbol
MCTDX
Inception Date
6/23/21
Investment Objective
The fund seeks to maximize income, while maintaining prospects for capital appreication, by investing in a diversified portfolio of stocks and bonds.
Strategy
The core of our strategy is to tactically manage our investment portfolio with a focus on generating steady income and achieving long-term growth, while maintaining lower volatility compared to the broader equity markets. This is accomplished primarily through investments in Closed-End Funds (CEFs), complemented by allocations to common stock, fixed income, and ADRs when opportunities arise.
Potential Monthly Income Distributions
The fund seeks to maximize income, while maintaining prospects for capital appreication, by investing in a diversified portfolio of stocks and bonds.
Income Through Market Cycles
The fund offers the potential for attractive income through diverse market conditions by actively managing risk and seeking opportunities across asset classes. The fund is designed to provide consistent income without relying on leverage, even as markets shift or volatility increases.
Flexibility
The fund is actively managed, and managers use cash as a tactical asset when needed, the fund does not have to be fully invested or positioned in the markets when volatility arises, or when there is a lack of opportunities. This helps generate income for shareholders and protects against downside risks.
Quick Stats
Total Net Assets
$10.60mn
70
Key Facts
Share Class
Benchmark
S&P 500 High Dividend Index
Alternative Benchmark
HFRI 500 Macro Multi-Strategy Index
Type of Investment
Open-End Mutual Fund
CUSIP
Morningstar Category
Moderate Allocation
Dividend Frequency
Monthly
Liquidity
Daily
Investment Minimums
Initial Investment
$1,000
Subsequent Investment
$0
Fund Characteristics
S&P 500 High Dividend Index
benchmark displayed in grey
Alpha
6.88%
Beta
-0.51
R-Squared
6.33%
Sharpe Ratio
0.78
0.52
13.06%
6.35%
Correlation
-0.25%
Max Drawdown
-9.30%
-4.44%
Fees & Expenses
as % of Net Assets
Total Annual Fund Operating Expenses (per prospectus):
4.10%
Net Expense Ratio
(After Fee Waiver)
3.02%
Expense Limitation
1
0.90%
Shareholder Servicing Fee
0.25%
The adviser has contractually agreed to waive fees to limit net fund operating expenses to 0.90% through at least April 30, 2026. See prospectus for details.
2
as of (Apr 30, 2025)
Inception: Jun 23, 2021
as of (Apr 30, 2025)
as of (Apr 30, 2025)
Performance Disclosure:
The performance information quoted represents past performance and is not a guarantee of future results. An investment's investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Investors may obtain performance data current to the most recent month-end by calling 1-800-711-9164.
as of Mar 31, 2025
Fixed Income
Equity
Cash & Cash Equivalents
Other Assets
High Yield
Senior Loans
Global Income
Investment Grade
Municipal
Multi-sector
Global Equity
REIT
ETF
US Equity
Emerging Market
MLP
Covered Calls
Single Country
Top 10 Holdings
as of Mar 31, 2025
Holding
Brookfield Real Assets Income Fund, Inc.
4.3%
BrandywineGLOBAL - Global Income Opportunities Fund, Inc.
4.3%
Western Asset Emerging Markets Debt Fund, Inc
4.1%
PGIM Short Duration High Yield Opportunities Fund
3.7%
Nuveen Core Plus Impact Fund
3.4%
Aberdeen Income Credit Strategies Fund
3.7%
Blackstone Strategic Credit Fund
3.6%
Virtus Global Multi-Sector Income Fund
2.9%
Morgan Stanley Emerging Markets Domestic Debt Fund, Inc
2.8%
Irsa Inversiones Y Representaciones S.A.
2.6%
Leverage a proven track record of trading this strategy for over 20 years.
as of Apr 30, 2025
MCTDX
(USD)
Definitions:
Alpha is the annualized percentage difference between a portfolio's actual returns and its expected performance given its level of market risk, as measured by beta. Beta is a measure of historical volatility relative to an appropriate index (benchmark) based on its investment objective. A beta greater than 1.00 indicates volatility greater than the benchmark's. R-Squared measures the percentage of a fund's movements that result from movements in the index. Sharpe Ratio shown is calculated for the past 36-month period by dividing annualized excess returns by annualized standard deviation. Sortino ratio is a statistical tool that proves useful in measuring the performance of an investment with respect to downward deviation. Standard deviation measures how widely dispersed a fund's returns have been over a specified period of time. A high standard deviation indicates that the range is wide, implying greater potential for volatility. Correlation is a statistical term describing the degree to which two securities (e.g., companies) or asset classes move in relation to one another. If they move in the same direction, then they are said to have a positive correlation. If they move in opposite directions, then they have a negative correlation. Highly correlated investments tend to move up and down together while low correlated investments tend to perform differently in different market conditions. Maximum Drawdown measures the peak-to-trough decline of an investment in a specific period. Annual Turnover Rate measures how quickly securities in the Fund are either bought or sold during the 12 months as of the most recent annual shareholder report. 30-day SEC yield is calculated using the net income (interest and dividends) per share earned over a trailing 30-day period (annualized), divided by the fund's share price at the end of that period. It may not equal the fund's actual income distribution rate, which reflects the fund’s past dividends paid to shareholders. Morningstar TTM Yield: the trailing-twelve-month yield reflects income earned by the Fund over the past 12 months, after expenses, divided by the maximum offering price. It is not standardized by the SEC and may differ from the 30-day SEC yield. HFRI 500 Macro Multi Strategy Index is Multi-Strategy Strategies which employ components of both Discretionary and Systematic Macro strategies, but neither exclusively both. Strategies frequently contain proprietary trading influences, and in some cases contain distinct, identifiable sub-strategies, such as equity hedge or equity market neutral, or in some cases a number of sub-strategies are blended together without the capacity for portfolio level disaggregation. S&P 500 High Dividend Index serves as a benchmark for income seeking equity investors. The index is designed to measure the performance of 80 high yield companies within the S&P 500 and is equally weighted to best represent the performance of this group, regardless of constituent size. S&P 500 Index is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and covers approximately 80% of available market capitalization.
© 2025 Morningstar, Inc. All rights reserved. The Morningstar Rating™ is for the Class ADV only; other classes may have different performance characteristics. The rating is not a recommendation to buy, sell, or hold the fund. Morningstar does not guarantee its accuracy or completeness and is not responsible for damages or losses arising from any use of this information.
Investors should consider the Fund’s investment objectives, risks, charges, and expenses before investing. The prospectus, containing this and other information about the Fund, should be read carefully before investing. The prospectus is available at the download icon below or by calling 800-711-9164. Current and future holdings are subject to change and risk.
Investments in the Fund are subject to investment risks, including the possible loss of some or all of the principal amount invested. There is no assurance that the Fund will be successful in meeting its investment objective. The Fund is subject to the following additional risks:
▪ Active Trading Risk: Active trading may result in added expenses, a lower return, and increased tax liability. Since the Fund’s advisor engages in high turnover trading strategies, the Fund will have high portfolio turnover rates.
▪ Closed-End Fund Risk: Closed-end funds (CEFs) are subject to investment advisory and other expenses, which will be indirectly paid by the Fund resulting in duplicative fees and expenses. CEFs are also subject to management risk because the advisor to the underlying CEF may be unsuccessful in meeting the fund’s investment objective.
▪ Equity Securities Risk: Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. These changes in value may result from factors affecting individual issuers, industries, or the stock market.
More information about these risks can be found in the Fund's prospectus.
Vigilant Distributors, LLC., Member FINRA/SIPC. There is no affiliation between Modern Capital Management Co., including its principals, and Vigilant Distributors, LLC.
- No Bank Guarantee
- May Lose Value
- NOT FDIC-INSURED