AXS Income Opportunities Fund
Data updated: 2026-05-26
C000234279 — AXS Income Opportunities Fund. Alternative · $14.97M AUM · 2.45% expense ratio · 10.5% 1-yr return. Holdings, fees, performance and SEC filings.
C000234279 Fund Overview
AXS Income Opportunities Fund is a US mutual fund managed by Investment Managers Series Trust II, categorised as Alternative. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Investment Managers Series Trust II
- Category: Alternative
- Assets under management: $14.97M
- 1-year return: 10.5%
- SEC CIK: 0001587982
- SEC series ID: S000075333
- Share class ID: C000234279
C000234279 Investment Objective and Strategy
AXS Income Opportunities Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Investment Managers Series Trust II.
Investment objective
The AXS Income Opportunities Fund (the Fund) seeks to maximize current income with potential for modest growth of capital.
Principal investment strategy
Under normal market conditions, the Fund seeks to achieve its investment objectives by investing in U.S. and non -U .S. securities and investment instruments including, but not limited to, equity securities, debt securities, and derivatives. The Funds allocation to these various security types and asset classes will vary over time in response to changing market opportunities with the goal of maximizing current income. The Fund may invest without limit in foreign securities, and up to 50% of the Funds net assets may be invested in the securities of issuers located in emerging markets. Emerging markets are those countries that are considered to be emerging markets or developing economies by the World Bank or the International Finance Corporation or are included in any of Morgan Stanley Capital International (MSCI) emerging market indices.
The Fund may invest without limit in equity securities of issuers of any market capitalization, and the Fund will generally invest in the equity securities of real estate investment trusts (REITs) and registered investment companies, including exchange -traded funds (ETFs). The Fund may also invest in the equity securities of master limited partnerships (MLPs). The types of equity securities in which the Fund will generally invest include common stock, preferred stock, rights, warrants, and depositary receipts. The Funds investments in depositary receipts may include American Depositary Receipts (ADRs), European Depositary Receipts (EDRs) and Global Depositary Receipts (GDRs). The Fund generally invests in dividend paying stocks. The Fund may invest up to 25% of its net assets in initial public offerings (IPOs).
The Fund generally invests at least 50% of its net assets in REITs. As a result of its investments in REITs, the Fund is concentrated in the real estate industry. The Fund may invest without limit in debt securities, provided that no more than 30% of its net assets are invested in debt securities rated below investment grade (known as junk bonds). The types of debt securities in which the Fund may invest generally include instruments and obligations of U.S. and non -U .S. corporate and other non -governmental entities, those of U.S. and non -U .S. governmental entities, mortgage -related or mortgage -backed securities (including sub -prime mortgages), asset -backed securities, exchange -traded notes (ETNs), floating rate loans, convertible securities, inflation -linked debt securities and subordinated debt securities.
The Fund invests in debt securities of any duration and with a broad range of maturities, and the Funds investments may have fixed or variable principal payments. The Fund may also invest in Rule 144A securities, which are privately placed, restricted securities that may only be resold under certain circumstances to other qualified institutional buyers. The Fund may invest up to 85% of its net assets in derivatives, including options, futures (such as bond, index, interest rate and currency futures, but excluding commodities futures) and swaps (such as credit -default swaps, interest rate swaps and total return swaps). These derivative instruments may be used for investment purposes; to modify or hedge the Funds exposure to a particular investment or market related risk; to manage the volatility of the Fund; to hedge against adverse changes in the market price of securities, interest rates or currency exchange rates; and as a substitute for purchasing or selling securities.
The Fund may utilize leverage (by borrowing against a line of credit for investment purposes) equal to up to one -third of the value of its assets as part of the portfolio management process. The Fund may also sell securities short with respect to 100% of its net assets and may lend its portfolio securities to generate additional income. A short sale is the sale by the Fund of a security that it does not own in anticipation of purchasing the same security in the future at a lower price to close the short position. From time to time, the Fund may have a significant portion of its assets in one or more market sectors. In pursuing its investment objectives, the Fund may engage in frequent trading. The Advisor may sell all or a portion of a position in the Funds portfolio when, in its opinion, one or more of the following occurs, among other reasons: (1) the security or instrument has achieved its investment expectations; (2) the Advisor identifies more attractive investment opportunities for the Fund; or (3) the Fund requires cash to meet redemption requests.
C000234279 Holdings
Top 8 holdings of AXS Income Opportunities Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| iShares Residential and Multis | 26.60% |
| iShares Core U.S. REIT ETF | 26.24% |
| State Street SPDR Bloomberg Co | 11.96% |
| VanEck Mortgage REIT Income ET | 10.87% |
| Principal Spectrum Preferred S | 9.20% |
| Janus Henderson AAA CLO ETF | 9.08% |
| Virtus InfraCap US Preferred S | 4.88% |
| JPMorgan US Government Money M | 2.53% |
C000234279 Portfolio Allocation
Asset-class allocation of AXS Income Opportunities Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Other | 98.8% |
| Cash & Equivalents | 2.5% |
C000234279 Performance
Total returns for C000234279 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 10.5% |
| 3 years (annualised) | 4.2% |
C000234279 Risk Information
Risk metrics for C000234279, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 8.0%
C000234279 Costs and Fees
C000234279 costs about $245 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.45%
- Gross expense ratio: 2.95%
- Portfolio turnover: 150%
- Brokerage commissions: 12.63 bps of average net assets (SEC N-CEN)
C000234279 Cashflows
Over the 12 months to 2026-03, AXS Income Opportunities Fund had net outflows of $25.86M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-03 | −$938.86K |
| 2026-02 | −$1.11M |
| 2026-01 | −$2.42M |
| 2025-12 | −$2.28M |
| 2025-11 | −$5.11M |
| 2025-10 | −$3.11M |
C000234279 Debt Constituents
No individual debt constituents are reported in AXS Income Opportunities Fund's latest SEC N-PORT filing.
C000234279 Prospectus and SEC Filings
Official AXS Income Opportunities Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus supplement (497) — filed 2026-02-04
- Prospectus supplement (497) — filed 2025-02-05
- Prospectus supplement (497) — filed 2024-02-05
- Portfolio holdings (N-PORT) — filed 2026-05-26
- Portfolio holdings (N-PORT) — filed 2026-02-24
- Portfolio holdings (N-PORT) — filed 2025-11-19
- Annual census (N-CEN) — filed 2024-12-12
- Annual census (N-CEN) — filed 2023-12-14
Related Funds
Other Alternative funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.