Matisse Discounted Bond CEF Strategy (MDFIX)
The fund aims to invest mainly in discounted closed-end funds focusing on bonds, with exposure to various other securities and instruments, including leverage for acquiring underlying investments.
Fund Info
Apr 29, 2020
$1,000
Expense Ratio
MDFIX has a high expense ratio of 0.99%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Matisse Discounted Bond CEF Strategy, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
Matisse Discounted Bond CEF Strategy had a return of 3.08% year-to-date (YTD) and 11.59% in the last 12 months.
MDFIX
3.08%
1.81%
2.33%
11.59%
N/A
N/A
^GSPC (Benchmark)
4.01%
1.13%
9.82%
22.80%
12.93%
11.26%
Monthly Returns
The table below presents the monthly returns of MDFIX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 1.83% | 3.08% | |||||||||||
| 2024 | 1.50% | 0.80% | 1.97% | -2.88% | 2.71% | 3.05% | 2.50% | 2.17% | 2.41% | -1.98% | 1.04% | -2.76% | 10.74% |
| 2023 | 8.34% | -3.66% | -0.06% | 0.00% | -1.63% | 3.11% | 2.97% | -1.99% | -4.85% | -2.93% | 10.74% | 4.04% | 13.63% |
| 2022 | -2.45% | -1.84% | -2.19% | -6.38% | 1.23% | -4.92% | 4.91% | -1.91% | -9.17% | -0.66% | 10.00% | -3.23% | -16.58% |
| 2021 | 1.23% | 0.32% | 2.01% | 2.74% | 1.72% | 1.22% | -0.23% | 0.77% | -0.63% | 0.31% | -0.70% | -3.92% | 4.77% |
| 2020 | 6.10% | 1.52% | 3.39% | 2.19% | 0.00% | -1.08% | 7.85% | 4.44% | 26.80% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 83, MDFIX is among the top 17% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Matisse Discounted Bond CEF Strategy (MDFIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Matisse Discounted Bond CEF Strategy provided a 6.83% dividend yield over the last twelve months, with an annual payout of $0.73 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Dividend | $0.73 | $0.73 | $0.72 | $0.64 | $0.50 | $0.47 |
Dividend yield | 6.83% | 7.00% | 7.15% | 6.66% | 4.09% | 3.89% |
Monthly Dividends
The table displays the monthly dividend distributions for Matisse Discounted Bond CEF Strategy. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.06 | $0.00 | $0.06 | ||||||||||
| 2024 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.06 | $0.73 |
| 2023 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.72 |
| 2022 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.10 | $0.64 |
| 2021 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.00 | $0.50 |
| 2020 | $0.15 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.17 | $0.47 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the Matisse Discounted Bond CEF Strategy. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Matisse Discounted Bond CEF Strategy was 26.69%, occurring on Oct 24, 2022. Recovery took 457 trading sessions.
The current Matisse Discounted Bond CEF Strategy drawdown is 1.09%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -26.69% | Sep 16, 2021 | 279 | Oct 24, 2022 | 457 | Aug 20, 2024 | 736 |
| -4.52% | Oct 3, 2024 | 60 | Dec 27, 2024 | — | — | — |
| -3.2% | Jun 9, 2020 | 3 | Jun 11, 2020 | 27 | Jul 21, 2020 | 30 |
| -2.84% | Oct 13, 2020 | 12 | Oct 28, 2020 | 7 | Nov 6, 2020 | 19 |
| -2.62% | Feb 12, 2021 | 9 | Feb 25, 2021 | 25 | Apr 1, 2021 | 34 |
Volatility
Volatility Chart
The current Matisse Discounted Bond CEF Strategy volatility is 1.18%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.