Matisse Discounted Bond CEF Strategy (MDFIX)

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Matisse Discounted Bond CEF Strategy (MDFIX) is up 0.4% since the beginning of the year. MDFIX is currently trading at $10 per share. Investors who bought $1,000 worth of MDFIX shares 5 years ago would now be looking at an investment worth $1,853.

Matisse Discounted Bond CEF Strategy (MDFIX) has returned 0.36% so far this year and 6.90% over the past 12 months.

Based on dividend-adjusted daily data since Apr 30, 2020, MDFIX's average daily return is +0.07%, while the average monthly return is +1.50%. At this rate, an investment would double in approximately 3.9 years.

Historically, 58% of months were positive and 42% were negative. The best month was Dec 2021 with a return of +60.5%, while the worst month was Sep 2022 at -9.2%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 4 months.

On a daily basis, MDFIX closed higher 51% of trading days. The best single day was Dec 30, 2021 with a return of +59.9%, while the worst single day was Jun 11, 2020 at -2.8%.

Matisse Discounted Bond CEF Strategy has an annualized alpha of 14.95%, beta of 0.22, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since May 01, 2020.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (73.76%) than losses (63.31%) - typical of diversified or defensive assets.
• Beta of 0.22 may look defensive, but with R2 of 0.02 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.02 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

MDFIX has a high expense ratio of 0.99%, indicating above-average management fees.

MDFIX ranks 30 for risk / return — below 30% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for Matisse Discounted Bond CEF Strategy (MDFIX) and compare them to S&P 500 Index.

Matisse Discounted Bond CEF Strategy provided a 8.53% dividend yield over the last twelve months, with an annual payout of $0.86 per share. The fund has been increasing its distributions for 3 consecutive years.

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.

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.

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 22.49%, occurring on Oct 24, 2022. Recovery took 391 trading sessions.

The current Matisse Discounted Bond CEF Strategy drawdown is 0.60%.

The chart below shows the rolling one-month volatility.