Returns Chart

Matisse Discounted Closed-End Fund Strategy Inst (MDCEX) Total Return
Created with Highcharts 11.1.0Oct '24Jan '25Apr '25Jul '250.00%21.83%

Key Stats

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Net Expense Ratio Total Assets Under Management Weighted Average Dividend Yield Turnover Ratio (Generic)
1.53% 59.19M -- 23.00%
1 Year Fund Level Flows 1 Year Total Returns (Daily) Annualized Total Returns Since Inception (Daily) Max Drawdown (Since Inception)
1.896M 21.83% Upgrade Upgrade

Basic Info

Investment Strategy
The Fund seeks long-term capital appreciation and income. Under normal conditions, the Fund will invest at least 80% of its net assets in closed-end funds which pay regular periodic cash distributions, the interest of which typically trade at substantial discounts relative to their underlying net asset value.
General
Security Type Mutual Fund
Broad Asset Class Allocation
Broad Category Allocation
Global Peer Group Mixed Asset USD Flex - US
Peer Group Flexible Portfolio Funds
Global Macro Mixed Asset HC Flexible
US Macro Mixed-Assets Funds
YCharts Categorization --
YCharts Benchmark --
Prospectus Objective Flexible Portfolio Funds
Fund Owner Firm Name Matisse Capital
Broad Asset Class Benchmark Index
^SPXTR 100.0%

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Net Fund Flows Versus Peer Group

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1M
3M
6M
YTD
1Y
3Y
5Y
10Y
 
80.00B
60.00B
40.00B
20.00B
0
-20.00B
1 Month
% Rank: 16
-362.99M Peer Group Low
179.80M Peer Group High
1 Year
% Rank: 18
1.896M
-4.225B Peer Group Low
1.269B Peer Group High
3 Months
% Rank: 17
-1.275B Peer Group Low
466.42M Peer Group High
3 Years
% Rank: 19
-10.56B Peer Group Low
2.513B Peer Group High
6 Months
% Rank: 19
-2.388B Peer Group Low
669.49M Peer Group High
5 Years
% Rank: 70
-19.51B Peer Group Low
2.666B Peer Group High
YTD
% Rank: 19
-2.388B Peer Group Low
669.49M Peer Group High
10 Years
% Rank: 71
-54.12B Peer Group Low
7.071B Peer Group High
Date Unavailable

Performance Versus Peer Group

 
20%
15%
10%
5%
0
Name
1M
3M
YTD
1Y
3Y
5Y
10Y
15Y
Total Return (NAV)
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
Peer Group Rtn. (NAV)
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
12.00%
% Rank in Peer Group (NAV)
5.0
5.0
5.0
5.0
5.0
5.0
5.0
5.0
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Annual Total Returns Versus Peers

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Name
2018
2019
2020
2021
2022
2023
2024
YTD
-9.04%
25.56%
-6.15%
23.15%
-6.58%
23.88%
14.98%
15.67%
-4.38%
31.49%
18.40%
28.71%
-18.11%
26.29%
25.02%
7.23%
-9.09%
16.74%
3.64%
10.66%
-11.03%
7.57%
-0.04%
17.12%
-3.19%
15.85%
7.77%
20.89%
-19.38%
9.63%
6.58%
12.74%
-8.26%
20.48%
8.59%
12.53%
-6.25%
13.07%
12.04%
15.35%
-7.14%
12.40%
-1.83%
11.51%
-6.86%
10.51%
8.80%
9.95%
As of July 10, 2025.

Fundamentals

General
Distribution Yield --
Dividend Yield TTM (7-8-25) 6.44%
30-Day SEC Yield --
7-Day SEC Yield --
Stock
Weighted Average PE Ratio 18.37
Weighted Average Price to Sales Ratio 3.977
Weighted Average Price to Book Ratio 3.561
Weighted Median ROE 18.36%
Weighted Median ROA 8.28%
ROI (TTM) 12.18%
Return on Investment (TTM) 12.18%
Earning Yield 0.0970
LT Debt / Shareholders Equity 0.7477
Bond
Yield to Maturity (4-30-25) 6.10%
Average Coupon 6.16%
Calculated Average Quality 4.703
Effective Maturity 13.84
Nominal Maturity 16.04
As of April 30, 2025

Growth Metrics

EPS Growth (1Y) 26.22%
EPS Growth (3Y) 10.10%
EPS Growth (5Y) 11.46%
Sales Growth (1Y) 20.68%
Sales Growth (3Y) 5.26%
Sales Growth (5Y) 7.77%
Sales per Share Growth (1Y) 41.23%
Sales per Share Growth (3Y) 5.85%
Operating Cash Flow - Growth Ratge (3Y) 15.23%
As of April 30, 2025

Fund Details

Key Dates
Inception Date 10/31/2012
Last Annual Report Date 3/31/2025
Last Prospectus Date 8/1/2024
Attributes
Index Fund --
Inverse Fund --
Leveraged Fund --
Fund of Funds Yes
Currency Hedged Fund --
Synthetic Replication Fund No

Asset Allocation

Created with Highcharts 11.1.0
As of April 30, 2025.
Type % Net
Cash 3.06%
Stock 79.41%
Bond 12.32%
Convertible 0.00%
Preferred 0.62%
Other 4.59%
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Top 10 Holdings

Created with Highcharts 11.1.0
Name % Weight Price % Change
Tetragon Financial Group Ltd ORD
8.71% -- --
Pershing Square Holdings Ltd ORD
6.46% -- --
Destra Multi-Alternative Fund 4.35% 8.68 -0.12%
Mexico Fund Inc 3.90% 17.37 -0.86%
Japan Smaller Capitalization Fund Inc 3.80% 9.67 0.10%
Templeton Dragon Fund Inc 3.75% 9.91 -1.10%
Highland Global Allocation Fund 3.71% 8.49 -0.59%
Highland Opportunities and Income Fund 3.67% 5.21 -0.57%
SRH Total Return Fund, Inc. 3.64% 17.63 0.40%
Third Point Investors Ltd ORD
3.44% -- --

Fees & Availability

Fees
Actual 12B-1 Fee --
Actual Management Fee 0.95%
Administration Fee 61.45K%
Maximum Front Load --
Maximum Deferred Load --
Maximum Redemption Fee 0.00%
General Availability
Available for Insurance Product --
Available for RRSP --
Purchase Details
Open to New Investors Yes
Minimum Initial Investment 1000.00 None
Minimum Subsequent Investment 100.00 None

Basic Info

Investment Strategy
The Fund seeks long-term capital appreciation and income. Under normal conditions, the Fund will invest at least 80% of its net assets in closed-end funds which pay regular periodic cash distributions, the interest of which typically trade at substantial discounts relative to their underlying net asset value.
General
Security Type Mutual Fund
Broad Asset Class Allocation
Broad Category Allocation
Global Peer Group Mixed Asset USD Flex - US
Peer Group Flexible Portfolio Funds
Global Macro Mixed Asset HC Flexible
US Macro Mixed-Assets Funds
YCharts Categorization --
YCharts Benchmark --
Prospectus Objective Flexible Portfolio Funds
Fund Owner Firm Name Matisse Capital
Broad Asset Class Benchmark Index
^SPXTR 100.0%

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Fundamentals

General
Distribution Yield --
Dividend Yield TTM (7-8-25) 6.44%
30-Day SEC Yield --
7-Day SEC Yield --
Stock
Weighted Average PE Ratio 18.37
Weighted Average Price to Sales Ratio 3.977
Weighted Average Price to Book Ratio 3.561
Weighted Median ROE 18.36%
Weighted Median ROA 8.28%
ROI (TTM) 12.18%
Return on Investment (TTM) 12.18%
Earning Yield 0.0970
LT Debt / Shareholders Equity 0.7477
Bond
Yield to Maturity (4-30-25) 6.10%
Average Coupon 6.16%
Calculated Average Quality 4.703
Effective Maturity 13.84
Nominal Maturity 16.04
As of April 30, 2025

Growth Metrics

EPS Growth (1Y) 26.22%
EPS Growth (3Y) 10.10%
EPS Growth (5Y) 11.46%
Sales Growth (1Y) 20.68%
Sales Growth (3Y) 5.26%
Sales Growth (5Y) 7.77%
Sales per Share Growth (1Y) 41.23%
Sales per Share Growth (3Y) 5.85%
Operating Cash Flow - Growth Ratge (3Y) 15.23%
As of April 30, 2025

Fund Details

Key Dates
Inception Date 10/31/2012
Last Annual Report Date 3/31/2025
Last Prospectus Date 8/1/2024
Attributes
Index Fund --
Inverse Fund --
Leveraged Fund --
Fund of Funds Yes
Currency Hedged Fund --
Synthetic Replication Fund No

Top Portfolio Holders

Name % Weight
Portfolio A 5.00%
Portfolio B 3.50%
Portfolio C 2.25%
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Excel Add-In Codes

Name: =YCI("M:MDCEX", "name")
Broad Asset Class: =YCI("M:MDCEX", "broad_asset_class")
Broad Category: =YCI("M:MDCEX", "broad_category_group")
Prospectus Objective: =YCI("M:MDCEX", "prospectus_objective")
To find the codes for any of our securities and financial metrics, see our Complete Excel Reference.
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