TEZIX — Catalyst/Teza Algorithmic Allocation Fund

Data updated: 2022-05-31

TEZIX — Catalyst/Teza Algorithmic Allocation Fund. Money Market · $5.49M AUM · 2.05% expense ratio. Holdings, fees, performance and SEC filings.

TEZIX Fund Overview

TEZIX — Catalyst/Teza Algorithmic Allocation Fund is a US mutual fund managed by Mutual Fund Series Trust, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US mutual fund
Manager: Mutual Fund Series Trust
Category: Money Market
Assets under management: $5.49M
1-year return: -7.9%
Ticker: TEZIX
SEC CIK: 0001355064
SEC series ID: S000067385
Share class ID: C000216705

TEZIX Investment Objective and Strategy

Catalyst/Teza Algorithmic Allocation Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Mutual Fund Series Trust.

Investment objective

The Fund?s investment objective is to seek long-term capital appreciation.

Principal investment strategy

The Fund provides exposure to major global asset classes including equity indexes, government bond interest rates, volatility indexes (for example, exposure to Cboe Volatility Index), foreign currencies and/or commodities, such as energy, precious metals, base metals, agriculturals and grains. The Fund gains exposure to applicable asset classes by investing primarily, either directly or indirectly through its Subsidiary (as described below), in futures contracts. The Fund may also gain exposure to these asset classes by investing in exchange traded funds (?ETFs?). The Fund?s exposure to such asset classes varies based on market conditions and other factors, and in certain circumstances the Fund may not have any exposure to one or more of such asset classes. Investments by the Fund may be made in domestic and foreign markets, including emerging markets.

The Fund also holds a large portion of its assets in cash or other cash equivalents, money market mutual funds and other fixed income investments, some or all of which will serve as margin or collateral for the Fund?s investments. Other fixed income investments may include investment grade short- and mid-term fixed income securities, including U.S. federal, state and municipal government securities, corporate bonds and ETFs that provide exposure to investment-grade fixed income securities. The Fund holds both long and short positions. The Fund?s investment sub-advisor, Teza Capital Management LLC (the ?Sub-Advisor?), uses a quantitative and systematic trading strategy based on algorithmic machine learning technology to manage the Fund. Equity index, government bond interest rate and volatility futures, as applicable, are generally held in long positions to achieve the Fund?s long-term target risk exposure.

However, based on proprietary risk-scaling tools and in response to market conditions, the strategy can dynamically reduce the Fund?s exposure to such asset classes, and in certain circumstances have short positions in and short exposure to such asset classes. The commodities portion of the strategy invests in long or short positions in commodities futures contracts. The Sub-Advisor?s trading strategy adjusts the Fund?s positions and risk exposure, generally on a daily basis in response to certain market conditions, and alpha based signals, such as strong positive correlation between stocks and bonds or changes in that correlation. The strategy dynamically adjusts the overall risk exposure of the portfolio based upon the quantitative analysis of contemporaneous asset class correlations derived from pricing data collected by the Sub-Advisor.

The Fund?s strategy is intended as improvement upon static risk models which adjust exposures less frequently and, as a result, may deliver less consistent levels of risk exposure. Target Volatility : The Fund is actively managed to a target range of 13% to 18% annualized volatility, although there is no guarantee that this goal can be met in all market conditions. There is no guarantee that the Fund will successfully achieve or maintain the target volatility level. Volatility is a statistical measure of the magnitude of changes in the Fund?s returns without regard to the direction of the returns. The Fund?s actual volatility level for longer or shorter periods may be materially higher or lower than the target level depending on market conditions, and therefore the Fund?s risk exposure may be materially higher or lower than the level targeted by the Sub-Advisor.

As portfolio weights and estimates of volatility and correlations change through time, the Sub-Advisor will increase and decrease the Fund?s gross exposure to underlying assets in order to maintain its target level of portfolio volatility. During periods of extremely high volatility and high correlations, the Fund may have lower exposure to underlying assets to maintain the target level of portfolio volatility. Conversely, during periods of low volatility and low correlations the Fund may require greater exposure to underlying assets to maintain its target level of portfolio volatility. The Fund?s target volatility level is not a total return performance target the Fund does not expect, nor does it represent, that its total return performance will be within any specified range. It is possible that the Fund could achieve its target volatility level while having negative performance returns.

Also, efforts to achieve and maintain a target volatility level can be expected to limit the Fund?s gains in rising markets, may expose the Fund to costs to which it would otherwise not have been exposed and, if unsuccessful, may result in substantial losses. The Fund actively trades its portfolio investments, which may lead to higher transaction costs that may affect the Fund?s performance. The Fund is classified as ?non-diversified? for purposes of the Investment Company Act of 1940 (the ?1940 Act?), which means a relatively high percentage of the Fund?s assets may be invested in the securities of a limited number of companies that could be in the same or related economic sectors. Investments in Subsidiary. The Sub-Advisor executes a portion of the Fund?s strategy by investing up to 25% of its total assets in a wholly owned and controlled subsidiary (the ?Subsidiary?).

The Subsidiary invests the majority of its assets in commodities and other futures contracts. The Subsidiary is subject to the same investment restrictions as the Fund, when viewed on a consolidated basis. The Advisor and Sub-Advisor to the Fund are also advisor and sub-advisor to the Subsidiary.

TEZIX Performance

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

Period	Total return
1 year	-7.9%
3 years (annualised)	-6.1%

TEZIX Risk Information

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

1-year volatility (annualised): 13.7%

TEZIX Costs and Fees

TEZIX costs about $205 per $10,000 invested per year in fund expenses.

Net expense ratio: 2.05%
Gross expense ratio: 3.75%
Portfolio turnover: 0%
Brokerage commissions: 30.86 bps of average net assets (SEC N-CEN)

TEZIX Cashflows

Over the 12 months to 2022-03, Catalyst/Teza Algorithmic Allocation Fund had net inflows of $682.82K, from monthly SEC N-PORT filings.

Month	Net flow
2022-03	$130.84K
2022-02	$71.59K
2022-01	$94.98K
2021-12	$49.03K
2021-11	$61.23K
2021-10	$26.85K

TEZIX Debt Constituents

No individual debt constituents are reported in Catalyst/Teza Algorithmic Allocation Fund's latest SEC N-PORT filing.

TEZIX Prospectus and SEC Filings

Official Catalyst/Teza Algorithmic Allocation Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Money Market 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.