Fund Evaluator:
Catalyst Systematic Alpha C (ATRCX)
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Best Performing in Multistrategy Over the Last Year
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Fund Details
Catalyst Systematic Alpha C Overview
Catalyst Systematic Alpha C (ATRCX) is an actively managed Alternative Multistrategy fund. Catalyst Mutual Funds launched the fund in 2014.
The investment seeks long-term capital appreciation. Under normal circumstances, the fund seeks to provide a total return that exceeds the BNP Paribas Catalyst Systematic Alpha Index III (the “Benchmark”). It seeks excess return, after the impact of fees and expenses, above the Benchmark through investing in (i) securities that provide exposure to the Benchmark, (ii) securities that provide exposure to strategies of similar nature to the Benchmark component, and (iii) fixed income securities, primarily short-term U.S. corporate bonds issued by publicly traded companies, including REITs and convertible bonds.
About Catalyst Systematic Alpha C (ATRCX)
There are 2 members of the management team with an average tenure of 7.66 years: David Miller (2015), Charles Ashley (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and BNPP Catalyst Systematic Alpha USD index with a weighting of 100%. Catalyst Systematic Alpha C has 21 securities in its portfolio. The top 10 holdings constitute 175.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Catalyst Systematic Alpha C is part of the Alternative Strategies global asset class and is within the Alternative fund group. Catalyst Systematic Alpha C has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 22.7% (22.7% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Catalyst Systematic Alpha C has -52.4% of the portfolio in cash.
Assets Under Management
The fund has $4 million in total assets, which is below the $511 million average for the Multistrategy category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ATRCX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Catalyst Systematic Alpha C expense ratio is high compared to funds in the Multistrategy category. Catalyst Systematic Alpha C has an expense ratio of 2.85%, which is 39% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Catalyst Systematic Alpha C has a portfolio turnover rate of 20%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 289% for the Multistrategy category.
Recently, in the month of July 2026, Catalyst Systematic Alpha C returned -2.9%, which earned it a grade of F, as the Multistrategy category had an average return of 0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Catalyst Systematic Alpha C has a trailing yield of 0.04%, which is below the 2.97% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Catalyst Systematic Alpha C Grades
Year to date, the fund has returned -2.5%, 7.8 percentage points worse than the category, which translates into a grade of F. The fund has returned 7.4% over the past year (grade of D), -1.9% over the past three years (grade of F) and 2.3% per year over the past five years (grade of F) and 4.4% per year over the past 10 years (grade of B).
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ATRCX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ATRCX Return (NAV) | -2.9% | 7.1% | 7.4% | -1.9% | 2.3% | 4.4% |
| ATRCX Grade | F | A | D | F | F | B |
| +/- Category | -3.7% | 5.3% | -3.4% | -9.7% | -3.0% | 0.7% |
| Multistrategy Avg | 0.8% | 1.8% | 10.8% | 7.7% | 5.3% | 3.7% |
| ATRCX Tax Cost Ratio | na | na | 0.0% | 1.5% | 1.6% | 1.5% |
ATRCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ATRCX Return (NAV) | -2.5% | 1.8% | -5.0% | 23.4% | -5.3% | 24.6% | 14.0% | 28.0% | -20.4% | 0.8% | -3.4% |
| ATRCX Grade | F | F | F | A | D | A | A | A | F | F | F |
| +/- Category | -7.8% | -6.0% | -11.1% | 17.0% | -4.9% | 18.4% | 12.0% | 21.0% | -15.6% | -4.1% | -5.3% |
| Multistrategy Avg | 5.3% | 7.8% | 6.1% | 6.4% | -0.4% | 6.2% | 2.0% | 7.0% | -4.9% | 5.0% | 2.0% |
| Risk Measures | |
| Standard Deviation: | 18.2% |
| Total Risk Index: | 1.49 - High |
| Category Risk Index: | 3.27 - High |
| Category Risk Grade: | F (104% Rank) |
| Beta: | 1.07 |
| R-Squared: | 55% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $112 Mil |
| Fund Total Assets: | $ 5 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 20% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 11.3 years | |||
| Average Tenure: 7.7 years | |||
| Managers (Year): Miller David (2015), Ashley Charles (2022) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 21 |
| % in Top 10 Holdings: | 175.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 22.7% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 129.7% |
| Cash: | -52.4% |
Purchase Information
| Fund Family: | Catalyst Mutual Funds |
| Phone Number: | 866-447-4228 |
| Website: | www.CatalystMutualFunds.com |
| Status: | Open |
| Inception Date: | July 31, 2014 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $2,500 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 2.85% ( Rating : High ) |
| Category Average Expense Ratio (%): | 2.05% |
| Share Class: | Catalyst Systematic Alpha I |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
