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Morningstar

Matisse Discounted Bond CEF Strat Instl MDFIX

Morningstar Medalist Rating
Medalist Rating as of | See Matisse Funds Investment Hub
  • NAV / 1-Day Return 10.36  /  0.00
  • Total Assets 49.8 Mil
  • Adj. Expense Ratio
    2.950%
  • Expense Ratio 3.220%
  • Distribution Fee Level High
  • Share Class Type Institutional
  • Category Multisector Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 7.86%
  • Effective Duration 10.45 years

USD | NAV as of May 17, 2024 | 1-Day Return as of May 17, 2024, 9:40 PM GMT+0

Morningstar’s Analysis MDFIX

Will MDFIX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable MDFIX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the MDFIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of MDFIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Strength in Matisse Discounted Bond CEF Strat Instl's People Pillar is partially offset by an Average Process Pillar rating, leading to a Morningstar Medalist Rating of Negative.

null Morningstar Manager Research

Morningstar Manager Research

Summary

Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the highest quintile among peers.

by Morningstar Manager Research
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Portfolio Holdings MDFIX

More MDFIX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 34.5
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Fidelity Inv MM Government I

6.15 2.9 Mil
Cash and Equivalents

FS Credit Opportunities Corp.

3.96 1.9 Mil
—

PIMCO CA Municipal Income II

3.58 1.7 Mil
—

abrdn National Municipal Income Fund

3.54 1.7 Mil
—

Western Asset Infl-Linked Opps & Inc Fd

3.51 1.7 Mil
—

MS Emerging Markets Domestic

3.40 1.6 Mil
—

RiverNorth/DoubleLine Strategic Opp Fund

3.38 1.6 Mil
—

BNY Mellon Strategic Municipals

3.37 1.6 Mil
—

BNY Mellon Muni Bond Infrastructure

3.35 1.6 Mil
—

Nuveen VA Quality Muni Inc

3.31 1.6 Mil
—