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Morningstar

Matisse Discounted Bond CEF Strat Instl MDFIX

Morningstar Analyst Rating
Quantitative rating as of
  • NAV / 1-Day Return 10.33  /  0.39 %
  • Total Assets 40.6 Mil
  • Adj. Expense Ratio
    —
  • Expense Ratio 2.710%
  • Distribution Fee Level High
  • Share Class Type Institutional
  • Category Multisector Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 6.60%
  • Effective Duration 10.56 years

USD | NAV as of Jan 26, 2023 | 1-Day Return as of Jan 26, 2023, 10:39 PM GMT+00:00

Morningstar’s Analysis MDFIX

Will MDFIX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable MDFIX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the MDFIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of MDFIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Summary

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An average Process Pillar and a subpar Parent Pillar help limit Matisse Discounted Bond CEF Strat Instl to a Morningstar Quantitative Rating of Negative. Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the most expensive quintile among peers.

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