The Athena Behavioral Tactical Fund employs a tactical market rotation strategy that seeks to invest in the right market at the right time.
Objective and Strategy
The Athena Behavioral Tactical Fund (the “Fund”) seeks capital appreciation.
The Fund utilizes patented behavioral market indicators to gauge and select broad market- exposure among various equity markets, market capitalization or cash each month. The portfolio invests in positions within US small cap, US large cap, or international equities when market indicators are strong. In certain circumstances the exposure may be twice the market to enhance returns. During weak conditions, the fund can move to 100% cash.
Growth of $10,000 (MARCH 11, 2019 – NOVEMBER 30, 2023)
Statistics (APR 2019 – NOV 2023)
ATVAX Ratings & Rankings (As of 10/31/2023)
ATVIX Ratings & Rankings (As of 10/31/2023)
Tactical Allocation Ranks
|1 Year||#245 out of 251|
|3 Year||#20 out of 241|
|5 Year||#44 out of 217|
Tactical Allocation Ranks
|1 Year||#243 out of 251|
|3 Year||#17 out of 241|
|5 Year||#33 out of 217|
Athena Behavioral Tactical Fund A was rated based on risk-adjusted returns against the following numbers of Tactical Allocation funds over the following time periods: 241 funds overall and in the last three years and 217 funds in the last five years. Past performance is no guarantee of future results. Morningstar Rating™ is for the A share class only; other classes may have different performance characteristics.
Athena Behavioral Tactical Fund I was rated based on risk-adjusted returns against the following numbers of Tactical Allocation funds over the following time periods: 241 funds overall and in the last three years and 217 funds in the last five years. Past performance is no guarantee of future results. Morningstar Rating™ is for the I share class only; other classes may have different performance characteristics.
The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10- year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Rank in Category is the fund’s total-return absolute rank relative to all funds that have the same Tactical Allocation category. The highest (or most favorable) absolute rank is 1 and the lowest (or least favorable) absolute rank is equal to the number of funds in the category. The top-performing fund in a category will always receive a rank of 1.
© 2023 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
ATVIX Class I (NAV) 8.89% 1.31% -4.12% -3.96% 5.09% 7.37% ATVAX Class A (NAV) 8.77% 1.20% -4.42% -4.22% 4.83% 7.08% ATVAX Class A (Max Load) 2.54% -4.30% -9.71% -9.71% 2.79% 5.75% MSCI All Country World Index2 9.23% 5.94% 16.60% 12.01% 5.69% 9.07%
ATVIX Class I (NAV) -4.81% 10.55% 5.78% 4.58% ATVAX Class A (NAV) -5.06% 10.29% 5.50% 4.31% ATVAX Class A (Max Load) -10.52% 8.12% 4.25% 3.57% MSCI All Country World Index 20.08% 6.89% 6.46% 6.79% S&P 500 Index 21.62% 10.15% 9.92% 10.80%
The figures shown represent past performance, which is no guarantee of future results. 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.
Total annual operating expenses are 2.34% and 2.09% for the Class A and I shares, respectively. The Fund’s investment advisor has contractually agreed to reduce its fees and/or absorb expenses until at least August 31, 2024. After this fee waiver, the expense ratios are 1.50% and 1.25% for the Class A and I shares, respectively. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund in future years. Please review the Fund’s prospectus for more information regarding the Fund’s fees and expenses, including other share classes. Results shown reflect the waiver, without which the results could have been lower. Returns for periods longer than one year are annualized.
The S&P 500 index is capitalization-weighted and designed to measure the performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries. The MSCI ACWI Total Return Index is a free-float weighted equity index that includes both emerging and developed world markets. The portfolio does not seek to replicate the composition, performance, or volatility of the benchmark index and can be expected to have investments that differ substantially from the securities included in any index. Accordingly, no representation is made that the performance, volatility, or other characteristics of the portfolio will track the benchmark. It is not possible to invest directly in an index.
- The Athena Behavioral Tactical Fund had a change in name and Principal Investment Strategies on 03/11/2019. The Since Inception performance shown on the Month End tab is performance since this change and is from 03/11/2019 onward. Partial month performance is calculated for March 2019.
- The benchmark for the Athena Behavioral Tactical Fund is the MSCI All Country World Index (ACWI) – Total Return.
- The Athena Behavioral Tactical Fund had a change in name and Principal Investment Strategies on 03/11/2019. The Since Inception performance shown on the Quarter End tab is performance since the Fund’s inception on 05/15/2015. Returns for periods longer than one year are annualized.
Investors should carefully consider the investment objectives, risks, charges, and expenses of the Athena Behavioral Tactical Fund. This and other important information about the Fund is contained in the Prospectus, which can be obtained by contacting your financial advisor or by calling (888) 868-9501. The Prospectus should be read carefully before investing. The Athena Behavioral Tactical Fund is distributed by Northern Lights Distributors, LLC member FINRA/SIPC. AthenaInvest Advisors LLC and Northern Lights Distributors, LLC are not affiliated. Mutual Funds involve risk including the possible loss of principal.