Eventide Dividend Opportunities Fund Celebrates 5-Year Anniversary
BOSTON, Oct. 13, 2022 /PRNewswire/ -- The Eventide Dividend Opportunities Fund (NASDAQ: ETIDX) celebrated its 5-year anniversary on September 29, 2022. The Fund's Class I shares completed the five-year period ending September 30, 2022, with a 5-star rating from Morningstar based on the risk-adjusted return of 367 funds in the US Open-End Mid-Cap Blend category. Additionally, the fund ranked in the top 9% of the Morningstar Mid Cap Blend category for total return out of 367 funds for the three-year period ending 9/30/2022 and the top 18% out of 335 funds for the 5-year period ending 9/30/2022.
The Eventide Dividend Opportunities Fund seeks to provide dividend income and long-term capital appreciation with a secondary objective of dividend growth by investing in companies that Eventide believes have sustainable and growing dividends.
Eventide Co-CIO and Eventide Dividend Opportunities Fund Senior Portfolio Manager Dolores Bamford had this to say about the Fund's anniversary: "The Eventide Dividend Opportunities Fund serves a specific need for values-driven clients who desire the risk profile of a dividend growth fund. The performance over the past five years has reinforced our thesis that companies that excel at creating value for others can offer compelling investment opportunities."
Eventide CEO Robin John also commented, "Dolores has built out a remarkable investment team that pursues excellence in alignment with Eventide's mission. This fund signifies our commitment to seek to invest in high-quality companies that we believe are meeting important human needs."
The Eventide Funds are managed by Eventide Asset Management, LLC, a Boston-based investment adviser managing, as of October 3, 2022, more than $6 billion in net assets.
The Fund is available in four share classes – Class A (NASDAQ: ETADX), Class C (NASDAQ: ETCDX), Class N (NASDAQ: ETNDX), and Class I (NASDAQ: ETIDX).
The Morningstar Rating for funds, or "star rating," is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star.
The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are as follows: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Morningstar percentile ranking is an investment's total return percentile rank against others in its Morningstar Category, ranging from 1 (best) to 100 (worst). The ranking does not account for sales loads, where applicable.
Morningstar's ranking of ETIDX is based on the Fund's performance from its inception date of September 29, 2017, to September 29, 2022.
Morningstar's overall star rating is as of 09/30/2022 for the Fund's Class I shares compared to 367 funds in the Mid Cap Blend category, based on Morningstar Risk-Adjusted Return. The Fund's Class I was rated 5 stars against 335 US Open-End Mid-Cap Blend funds for the 5-yr period. The overall star rating is derived from a weighted average of performance associated with its 3-year, 5-year, and 10-year (where applicable) Morningstar Rating metrics.
There is no guarantee that the Fund will meet its objectives.
Mutual funds involve risk including the possible loss of principal. Past performance does not guarantee future results. The Fund's ethical values screening criteria could cause it to underperform similar funds that do not have such screening criteria. The Fund can have risk related to option investing. Companies in the utilities sector are subject to interest rate risk and cash flow risk. Companies in the technology industries have different risks including but not limited to products becoming obsolete, and entrance of competing products. Companies in the industrial sector carry various risks including, but not limited to, risk related to debt loads, intense competition, and sensitivity to economic cycles. There are unique risks associated with convertible securities, emerging markets, foreign securities, MLPs, preferred stocks, REITs, small cap stocks, securities, and yieldcos that are covered in the Fund's prospectus and SAI.
Investors should consider a fund's investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information can be found in the prospectus, which can be obtained at www.eventidefunds.com or by calling 1-877-771-EVEN (3836). Please read the prospectus carefully before investing. Eventide Mutual Funds are distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC, which is not affiliated with Eventide Asset Management, LLC.
Firm Contact:
[email protected]
877-771-EVEN (3836)
9378-NLD 10/12/2022
SOURCE Eventide Asset Management
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