Fund Evaluator:
Catalyst/Welton Advantage Mlt-Stgy C (CWECX)
Follow This Fund
Best Performing in Multistrategy Over the Last Year
| 35.9% | AQR Alternative Risk Premia N (QRPNX) |
| 21.4% | AQR Style Premia Alternative N (QSPNX) |
| 14.2% | Goldman Sachs Multi-Strategy Alts Inv (GIMMX) |
| 13.0% | AQR Diversifying Strategies N (QDSNX) |
| 12.7% | Blackstone Alternative Multi-Strategy Y (BXMYX) |
Fund Details
Catalyst/Welton Advantage Mlt-Stgy C Overview
Catalyst/Welton Advantage Mlt-Stgy C (CWECX) is an actively managed Alternative Multistrategy fund. Catalyst Mutual Funds launched the fund in 2024.
The investment seeks long-term capital appreciation. The fund seeks to achieve its investment objective through a multi-asset trading strategy (the “Welton Advantage Multi-Strategy”) that invests in domestic equity securities along with a group of global derivative markets spanning four major market sectors. It invests in futures and options on futures contracts of traditional commodities, currencies, equity indices, and interest rates. The fund is non-diversified.
About Catalyst/Welton Advantage Mlt-Stgy C (CWECX)
There are 1 members of the management team with an average tenure of 2.09 years: Patrick Welton (2024). 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/Welton Advantage Mlt-Stgy C has 110 securities in its portfolio. The top 10 holdings constitute 76.3% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is considered to have an ESG focus with its investment selection and management.
Catalyst/Welton Advantage Mlt-Stgy C is part of the Alternative Strategies global asset class and is within the Alternative fund group. Catalyst/Welton Advantage Mlt-Stgy C has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 29.6%. 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 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Catalyst/Welton Advantage Mlt-Stgy C has 70.4% of the portfolio in cash.
Assets Under Management
The fund has $344 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.
CWECX 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/Welton Advantage Mlt-Stgy C expense ratio is high compared to funds in the Multistrategy category. Catalyst/Welton Advantage Mlt-Stgy C has an expense ratio of 3.02%, which is 47% 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/Welton Advantage Mlt-Stgy C has a portfolio turnover rate of 2575%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 289% for the Multistrategy category.
Recently, in the month of July 2026, Catalyst/Welton Advantage Mlt-Stgy C returned -2.5%, 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/Welton Advantage Mlt-Stgy C has a trailing yield of 0.00%, which is below the 2.97% 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/Welton Advantage Mlt-Stgy C Grades
Year to date, the fund has returned -10.0%, 15.2 percentage points worse than the category, which translates into a grade of F. The fund has returned -4.1% over the past year (grade of F).
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/Welton Advantage Mlt-Stgy C, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
CWECX 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 |
|
| CWECX Return (NAV) | -2.5% | -3.2% | -4.1% | na | na | na |
| CWECX Grade | F | F | F | na | na | na |
| +/- Category | -3.2% | -5.0% | -14.9% | na | na | na |
| Multistrategy Avg | 0.8% | 1.8% | 10.8% | 7.7% | 5.3% | 3.7% |
| CWECX Tax Cost Ratio | na | na | 0.0% | na | na | na |
CWECX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CWECX Return (NAV) | -10.0% | -4.7% | na | na | na | na | na | na | na | na | na |
| CWECX Grade | F | F | na | na | na | na | na | na | na | na | na |
| +/- Category | -15.2% | -12.5% | na | na | na | na | na | na | na | na | na |
| 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: | 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: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $44 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 2575% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 2.1 years | |||
| Average Tenure: 2.1 years | |||
| Managers (Year): Welton Patrick (2024) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 110 |
| % in Top 10 Holdings: | 76.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 29.6% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 70.4% |
Purchase Information
| Fund Family: | Catalyst Mutual Funds |
| Phone Number: | 866-447-4228 |
| Website: | www.vrmfunds.com |
| Status: | Open |
| Inception Date: | June 28, 2024 |
| 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 (%): | 3.02% ( Rating : High ) |
| Category Average Expense Ratio (%): | 2.05% |
| Share Class: | Catalyst/Welton Advantage Mlt-Stgy I |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
