Fund Evaluator:
Catalyst/Aspect Enhanced Multi-Asset I (CASIX)
Follow This Fund
Best Performing in Multi-Asset Overlay Over the Last Year
| 30.6% | AQR CVX Fusion N (QCFNX) |
| 30.0% | AQR Trend Total Return Class N (QNZNX) |
| 29.5% | AMG Systematica Trend-Enhanced Markets N (STMBX) |
| 26.9% | Standpoint Multi-Asset Investor (REMIX) |
| 26.3% | Catalyst/Aspect Enhanced Multi-Asset I (CASIX) |
Fund Details
Catalyst/Aspect Enhanced Multi-Asset I Overview
Catalyst/Aspect Enhanced Multi-Asset I (CASIX) is an actively managed Alternative Multi-Asset Overlay fund. Catalyst Mutual Funds launched the fund in 2023.
The investment seeks long-term capital appreciation. The fund seeks to achieve its investment objective by investing in a portfolio composed of two components: (i) a “Managed Futures Component” consisting of global financial and commodity futures, currency forwards and other derivative contracts on or related to sectors or assets classes including currencies, interest rate instruments, stock indices, metals, energy and agricultural commodities, and (ii) a “60/40 Component” consisting of a portfolio investing in U.S. equity and U.S. fixed income markets through financial futures and U.S. bond ETFs. The fund is non-diversified.
About Catalyst/Aspect Enhanced Multi-Asset I (CASIX)
There are 4 members of the management team with an average tenure of 2.51 years: Anthony Todd (2023), Martin Lueck (2023), Chris Reeve (2023), Max Xu (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Catalyst/Aspect Enhanced Multi-Asset I has 138 securities in its portfolio. The top 10 holdings constitute 78.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Catalyst/Aspect Enhanced Multi-Asset I is part of the Alternative Strategies global asset class and is within the Alternative fund group. Catalyst/Aspect Enhanced Multi-Asset I has 2.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 20.9%. 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 41.8% (39.2% domestic bond, 2.5% foreign bond and 0.0% convertible bond). Catalyst/Aspect Enhanced Multi-Asset I has 37.4% of the portfolio in cash.
Assets Under Management
The fund has $33 million in total assets, which is below the $368 million average for the Multi-Asset Overlay 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.
CASIX 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/Aspect Enhanced Multi-Asset I expense ratio is high compared to funds in the Multi-Asset Overlay category. Catalyst/Aspect Enhanced Multi-Asset I has an expense ratio of 2.04%, which is 42% lower than its category average, making the fund expense ratio grade a B. 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/Aspect Enhanced Multi-Asset I has a portfolio turnover rate of 0%, indicating that holds its assets around 33.3 years. By way of comparison, the average portfolio turnover is 155% for the Multi-Asset Overlay category.
Recently, in the month of June 2026, Catalyst/Aspect Enhanced Multi-Asset I returned -4.0%, which earned it a grade of F, as the Multi-Asset Overlay category had an average return of -1.9%. 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/Aspect Enhanced Multi-Asset I has a trailing yield of 0.00%, which is below the 0.85% category average. The fund normally distributes its income annually 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/Aspect Enhanced Multi-Asset I Grades
Year to date, the fund has returned 8.7%, 0.4 percentage points better than the category, which translates into a grade of D. The fund has returned 26.3% over the past year (grade of B).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Catalyst/Aspect Enhanced Multi-Asset I, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
CASIX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CASIX Return (NAV) | -4.0% | 8.9% | 26.3% | na | na | na |
| CASIX Grade | F | C | B | na | na | na |
| +/- Category | -2.1% | -1.7% | 2.8% | na | na | na |
| Multi-Asset Overlay Avg | -1.9% | 10.6% | 23.5% | 13.6% | 6.5% | 8.1% |
| CASIX Tax Cost Ratio | na | na | 0.6% | na | na | na |
CASIX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CASIX Return (NAV) | 8.7% | 7.6% | 12.1% | na | na | na | na | na | na | na | na |
| CASIX Grade | D | C | D | na | na | na | na | na | na | na | na |
| +/- Category | 0.4% | -1.6% | -2.8% | na | na | na | na | na | na | na | na |
| Multi-Asset Overlay Avg | 8.3% | 9.3% | 14.9% | 9.8% | -2.4% | 18.4% | 7.9% | 18.5% | -4.9% | 11.9% | 14.2% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $33 Mil |
| Fund Total Assets: | $ 33 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 0% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 2.5 years | |||
| Average Tenure: 2.5 years | |||
| Managers (Year): Todd Anthony (2023), Lueck Martin (2023), Reeve Chris (2023), Xu Max (2023) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 138 |
| % in Top 10 Holdings: | 78.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 2.5% |
Portfolio Allocation |
|
| Domestic Stock: | 20.9% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 39.2% |
| Foreign Bond: | 2.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 37.4% |
Purchase Information
| Fund Family: | Catalyst Mutual Funds |
| Phone Number: | 866-447-4228 |
| Website: | www.vrmfunds.com |
| Status: | Open |
| Inception Date: | December 28, 2023 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $2,500 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 2.04% ( Rating : High ) |
| Category Average Expense Ratio (%): | 3.52% |
| Share Class: | Catalyst/Aspect Enhanced Multi-Asset I |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
