CHYAX — CMG Tactical Bond Fund
Data updated: 2022-09-29
CHYAX — CMG Tactical Bond Fund. Total Return Allocation · $1.55M AUM · 3.25% expense ratio · -9.4% 1-yr return. Holdings, fees, performance and SEC filings.
CHYAX Fund Overview
CHYAX — CMG Tactical Bond Fund is a US mutual fund managed by Northern Lights Fund Trust, categorised as Total Return Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Northern Lights Fund Trust
- Category: Total Return Allocation
- Assets under management: $1.55M
- 1-year return: -9.4%
- Ticker: CHYAX
- SEC CIK: 0001314414
- SEC series ID: S000041373
- Share class ID: C000128338
CHYAX Investment Objective and Strategy
CMG Tactical Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Northern Lights Fund Trust.
Investment objective
The Funds objective is to generate total returns over a complete market cycle through capital appreciation and income.
Principal investment strategy
Under normal circumstances, the Fund invests (long or short) at least 80% of its assets in bond instruments (80% investment policy), directly or by investing in other mutual funds or exchange traded funds (ETFs) (collectively, Underlying Funds) which invest primarily in high yield bonds and other high yield fixed income securities. The Fund defines bond instruments to include: (i) bills, (ii) notes, (iii) debentures, (iv) bonds, (v) mortgage-backed securities (MBS), (vi) asset-backed securities (ABS), (vii) preferred stocks, (viii) loan participation interests, (ix) any other debt or debt-related securities of any maturities, whether issued by U.S. or non-U.S. governments, agencies or instrumentalities thereof or corporate entities, and having fixed, variable, floating or inverse floating rates, (x) fixed income options and (xi) other evidences of indebtedness.
High yield fixed income securities are those that are rated below investment grade; i.e., rated lower than Baa3 or lower than BBB- by Moodys Investors Service (Moodys) or lower than BBB- by Standard and Poors Rating Group (S&P) respectively. The 80% investment policy can be changed without shareholder approval; however, shareholders would be given at least 60 days prior notice. The Funds investment adviser (the Adviser) adjusts the Funds portfolio to obtain maximum total return (income and price appreciation) in up trending high yield bond markets and focuses on capital preservation in down trending price environments, in seeking to achieve the Funds objective of generating total returns over a complete market cycle (full periods of rising and falling interest rates from a bull market to bear market and back again).
The Adviser utilizes its proprietary risk management Asset Allocation Program in managing the Fund. In down trending price environments, the Fund can also invest in put and call options as a means to protect (hedge) the portfolios high yield bond exposure and/or move its high yield bond exposure temporarily to cash or short-term cash equivalents in an attempt to mitigate market declines as well as lower portfolio volatility. The Fund invests in fixed income securities that are sometimes referred to as high yield or junk bonds. The Fund defines high yield bonds as those rated lower than Baa3 by Moodys or lower than BBB- by S&P, or determined to be of similar quality by the Funds Adviser. Such securities are considered speculative investments that carry greater risk of default. Because high yield bonds have a historically high correlation to equity markets, in particular to small cap stocks, the Fund may be indirectly exposed to the same risks as the stock market in general.
The Fund may hold U.S. Government securities or cash equivalents for collateralization obligations, to pay redemption requests or while pending investment. The Fund may invest in a wide range of instruments, markets and asset classes, including but not limited to U.S. securities), Underlying Funds and derivative investments such as futures and options. Derivative investments may be used by the Adviser for hedging purposes or for speculative purposes. The Fund (or the Underlying Funds in which the Fund may invest) may sell securities short or leverage its assets through borrowings for investment purposes. The Adviser may engage in frequent trading of the Funds portfolio in pursuing the Funds investment objective.
CHYAX Performance
Total returns for CHYAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -9.4% |
| 3 years (annualised) | -3.2% |
CHYAX Risk Information
Risk metrics for CHYAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 3.3%
CHYAX Costs and Fees
CHYAX costs about $325 per $10,000 invested per year in fund expenses.
- Net expense ratio: 3.25%
- Gross expense ratio: 3.25%
- Portfolio turnover: 810%
- Brokerage commissions: 52.79 bps of average net assets (SEC N-CEN)
CHYAX Cashflows
Over the 12 months to 2022-07, CMG Tactical Bond Fund had net inflows of $5.59M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-07 | $24.98K |
| 2022-06 | $26.75K |
| 2022-05 | $33.30K |
| 2022-04 | $173.67K |
| 2022-03 | $102.56K |
| 2022-02 | $24.34K |
CHYAX Debt Constituents
No individual debt constituents are reported in CMG Tactical Bond Fund's latest SEC N-PORT filing.
CHYAX Prospectus and SEC Filings
Official CMG Tactical Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-08-29
- Prospectus (485BPOS) — filed 2021-08-04
- Prospectus (485BPOS) — filed 2020-09-02
- Portfolio holdings (N-PORT) — filed 2022-09-29
- Portfolio holdings (N-PORT) — filed 2022-06-29
- Portfolio holdings (N-PORT) — filed 2022-03-30
- Annual census (N-CEN) — filed 2022-07-14
- Annual census (N-CEN) — filed 2021-07-14
Related Funds
Other Total Return Allocation 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.