Fund Evaluator:
AlphaCentric Life Sciences & Hlthcare I (LYFIX)
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Best Performing in Health Over the Last Year
| 62.8% | Fidelity Advisor Biotechnology Z (FIJYX) |
| 62.6% | Fidelity Advisor Biotechnology I (FBTIX) |
| 56.2% | Eventide Healthcare & Life Sciences N (ETNHX) |
| 53.5% | Fidelity Select Biotechnology (FBIOX) |
| 49.5% | Fidelity Select Pharmaceuticals Port (FPHAX) |
Fund Details
AlphaCentric Life Sciences & Hlthcare I Overview
AlphaCentric Life Sciences & Hlthcare I (LYFIX) is an actively managed Sector Equity Health fund. AlphaCentric Funds launched the fund in 2019.
The investment seeks long-term capital appreciation. Under normal market conditions, the fund invests at least 80% of its net assets plus borrowings for investment purposes in the securities of companies in the life sciences and healthcare sectors, which the managers define to be the category of companies related to producing or supplying facilities, supplies, technology, pharmaceuticals, equipment, devices or services for the preservation and care of a person’s or animal’s health.
About AlphaCentric Life Sciences & Hlthcare I (LYFIX)
There are 1 members of the management team with an average tenure of 1.75 years: Ryan Dunnegan (2024). 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 S&P Biotechnology Select Industry TR USD index with a weighting of 100%. AlphaCentric Life Sciences & Hlthcare I has 64 securities in its portfolio. The top 10 holdings constitute 46.8% 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.
AlphaCentric Life Sciences & Hlthcare I is part of the Equity global asset class and is within the Sector Equity fund group. AlphaCentric Life Sciences & Hlthcare I has 14.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 77.6%. There is 14.8% 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). AlphaCentric Life Sciences & Hlthcare I has 7.6% of the portfolio in cash.
Assets Under Management
The fund has $38 million in total assets, which is below the $884 million average for the Health 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.
LYFIX 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 AlphaCentric Life Sciences & Hlthcare I expense ratio is high compared to funds in the Health category. AlphaCentric Life Sciences & Hlthcare I has an expense ratio of 1.41%, which is 16% higher than its category average, making the fund expense ratio grade a D. 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. AlphaCentric Life Sciences & Hlthcare I has a portfolio turnover rate of 107%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 61% for the Health category.
Recently, in the month of July 2026, AlphaCentric Life Sciences & Hlthcare I returned -3.9%, which earned it a grade of F, as the Health category had an average return of -0.4%. 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.
AlphaCentric Life Sciences & Hlthcare I has a trailing yield of 1.58%, which is above the 0.39% 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.
AlphaCentric Life Sciences & Hlthcare I Grades
Year to date, the fund has returned 12.8%, 5.7 percentage points better than the category, which translates into a grade of A. The fund has returned 51.0% over the past year (grade of A), 9.8% over the past three years (grade of B) and 9.2% per year over the past five years (grade of A).
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LYFIX 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 |
|
| LYFIX Return (NAV) | -3.9% | 12.8% | 51.0% | 9.8% | 9.2% | na |
| LYFIX Grade | F | A | A | B | A | na |
| +/- Category | -3.5% | 2.1% | 17.2% | -0.9% | 4.3% | na |
| Health Avg | -0.4% | 10.7% | 33.9% | 10.7% | 5.0% | 9.3% |
| LYFIX Tax Cost Ratio | na | na | 0.7% | 0.9% | 1.8% | na |
LYFIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LYFIX Return (NAV) | 12.8% | 28.2% | -0.3% | 7.2% | -0.8% | -3.3% | 54.8% | na | na | na | na |
| LYFIX Grade | A | A | F | B | A | F | A | na | na | na | na |
| +/- Category | 5.7% | 7.6% | -2.8% | 1.6% | 8.6% | -12.1% | 30.3% | na | na | na | na |
| Health Avg | 7.1% | 20.6% | 2.5% | 5.6% | -9.4% | 8.7% | 24.5% | 28.4% | 0.4% | 23.4% | -10.9% |
| Risk Measures | |
| Standard Deviation: | 19.9% |
| Total Risk Index: | 1.62 - High |
| Category Risk Index: | 1.24 - High |
| Category Risk Grade: | F (89% Rank) |
| Beta: | 0.72 |
| R-Squared: | 21% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.6% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $44 Mil |
| Fund Total Assets: | $ 38 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 107% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 1.8 years | |||
| Average Tenure: 1.8 years | |||
| Managers (Year): Dunnegan Ryan (2024) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 64 |
| % in Top 10 Holdings: | 46.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 14.8% |
Portfolio Allocation |
|
| Domestic Stock: | 77.6% |
| Foreign Stock: | 14.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 7.6% |
Purchase Information
| Fund Family: | AlphaCentric Funds |
| Phone Number: | 844-223-8637 |
| Website: |
| Status: | Open |
| Inception Date: | November 29, 2019 |
| 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 (%): | 1.41% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.21% |
| Share Class: | AlphaCentric Life Sciences & Hlthcare I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
