MFRIX — Marketfield Fund

Data updated: 2022-03-11

MFRIX — Marketfield Fund. Commodity · $155.69M AUM · 2.52% expense ratio · 15.3% 1-yr return. Holdings, fees, performance and SEC filings.

MFRIX Fund Overview

MFRIX — Marketfield Fund is a US mutual fund managed by Trust For Professional Managers, categorised as Commodity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US mutual fund
Manager: Trust For Professional Managers
Category: Commodity
Assets under management: $155.69M
1-year return: 15.3%
Ticker: MFRIX
SEC CIK: 0001141819
SEC series ID: S000018259
Share class ID: C000166860

MFRIX Investment Objective and Strategy

Marketfield Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Trust For Professional Managers.

Investment objective

The investment objective of the Marketfield Fund (the Fund) is capital appreciation.

Principal investment strategy

The Fund seeks long-term growth of capital above that of the broad equity market over a full market cycle, with volatility that is generally lower than that of the broad equity market. Correlation between the Fund and the broad equity market may vary considerably over the course of an investment cycle. To achieve the Funds investment objective, the Adviser allocates the Funds assets among investments in equity securities, fixed-income securities and other investment companies, including exchange-traded funds (ETFs), in proportions consistent with the Advisers evaluation of their expected risks and returns. The Funds equity securities investments may include common and preferred stocks of United States companies of any size. The Fund may take long and short positions in equity securities of foreign companies of any size, including securities issued by corporations or governments located in developing or emerging markets.

The amount of Fund assets invested in foreign securities may vary based on market conditions. However, under normal market conditions, the Adviser expects the Fund may invest up to 50% of the Funds net assets in foreign securities, including securities of issuers located in emerging markets. The Adviser has discretion to determine the countries considered to be emerging market countries, taking into consideration factors such as the development of a countrys financial and capital markets, inclusion of a country in an index representative of emerging markets, and country classifications used by the World Bank, International Monetary Fund or United Nations. The Funds investments in foreign securities may include, but are not limited to, American Depositary Receipts (ADRs), European Depositary Receipts (EDRs) and Global Depositary Receipts (GDRs).

The Funds investments in other investment companies, including ETFs, and derivative type transactions will be considered foreign if the underlying assets represented by the investment are determined to have exposure to foreign securities, including emerging market securities. Also, under normal market conditions, the Fund may engage in short sales of securities or other derivative type transactions (specifically options, forward contracts, forward foreign currency contracts entered into for other than bona fide hedging purposes, futures contracts and swap agreements), representing up to 50% of the Funds net assets, to profit from an anticipated decline in the price of the securities sold short. Under normal market conditions, the Funds investments in fixed-income securities consist of investment grade corporate bonds and debentures, mortgage-backed and asset-backed securities, United States Treasury obligations, municipal securities, obligations issued by the U.S.

Government and its agencies or instrumentalities and convertible securities. The Fund may also invest in fixed income securities of foreign issuers (including issuers in emerging markets). The Fund may invest up to 30% of its net assets in fixed-income securities that are below investment grade. Below investment grade securities are generally securities that receive low ratings from independent rating agencies, such as securities rated lower than BBB- by Standard & Poors Ratings Services (S&P) and Baa3 by Moodys Investors Service, Inc. (Moodys), or if unrated, are determined to be of equivalent quality by the Adviser. If independent rating agencies assign different ratings to the same security, the Fund will use the higher rating for purposes of determining the securitys credit quality.

Securities that are rated below investment grade by an independent rating agency are commonly referred to as high yield debt or junk bonds. In addition, the Fund may invest up to 50% of its net assets in equity or fixed-income options, futures contracts and convertible securities and may invest up to 30% of its net assets in interest rate, credit default, index, equity (including total return), and currency exchange rate swap agreements. The Adviser shall manage the Fund so that the Fund will not be deemed to be a commodity pool under the Commodity Exchange Act. When reviewing investment opportunities for the Fund, the Adviser considers various factors, including macroeconomic conditions, corporate earnings at a macroeconomic level, anticipated inflation and interest rates, consumer risk and its perception of the outlook of the capital markets as a whole.

A macroeconomic strategy focuses on broad trends and is generally distinguished from a strategy that focuses on the prospects of particular companies or issuers. The Adviser may allocate the Funds investments between equity and fixed-income securities at its discretion, without limitation. The Adviser may engage in active trading with high portfolio turnover of the Funds portfolio investments to achieve the Funds investment objective. Security selection for the Fund is driven by the Advisers top-down analysis of economic issues, the Advisers perception of investor sentiment and investment flows. Once the Adviser has identified a theme that is expected to either benefit or disadvantage a specific sector or country, it seeks to implement an investment strategy that is appropriate for the Fund.

In some cases, the Adviser may utilize a sector- or country-specific ETF that offers exposure to a broad range of securities. In other situations, the Adviser may select a single issue that is perceived by the Adviser to be particularly germane to a specific concern or a small group of issues with characteristics that match the goal of creating portfolio exposure to a macroeconomic theme. The Adviser may sell a security if it no longer believes the security will contribute to meeting the investment objective of the Fund or when the security is deemed less attractive relative to another security on a return/risk basis. The Adviser may also sell or reduce a position in a security if it sees the investment theme failing to materialize.

MFRIX Performance

Total returns for MFRIX (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	15.3%

MFRIX Risk Information

Risk metrics for MFRIX, derived from monthly returns in SEC filings.

1-year volatility (annualised): 21.1%

MFRIX Costs and Fees

MFRIX costs about $252 per $10,000 invested per year in fund expenses.

Net expense ratio: 2.52%
Gross expense ratio: 2.88%
Portfolio turnover: 12%
Brokerage commissions: 2.20 bps of average net assets (SEC N-CEN)

MFRIX Cashflows

Over the 12 months to 2021-12, Marketfield Fund had net inflows of $48.27M, from monthly SEC N-PORT filings.

Month	Net flow
2021-12	$3.65M
2021-11	$3.81M
2021-10	$11.36M
2021-09	$3.41M
2021-08	$2.21M
2021-07	$3.36M

MFRIX Debt Constituents

No individual debt constituents are reported in Marketfield Fund's latest SEC N-PORT filing.

MFRIX Prospectus and SEC Filings

Official Marketfield Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Commodity 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.