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EESRX

SteelPath Panoramic Fund

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Overview

The Strategy typically invests across the upstream, midstream, and downstream sectors of the energy industry as well as other beneficiaries of North America’s energy renaissance.

Inception Date
November 18, 2015
Investment Style
Small-Mid Cap Growth & Income
Fund Index
S&P 500 Energy (Sector) Index
CUSIP
68385Q302
NAV
  • A
(as of 06/20/2018)
$10.44
Total Assets
(as of 05/31/2018)
$24.93 MM
Gross Expense Ratio
(as of 05/31/2018)
2.90%
Net Expense Ratio
(as of 05/31/2018)
1.80%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 05/31/2018
as of 03/31/2018

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
Cumulative
Annualized
1 mo 3 mo ytd as of 2018-03-31
  • C
1 yr since inception
SteelPath Panoramic Fund (NAV)
0.95% -7.09% -7.09% -11.88% -1.84%
S&P 500 Energy (Sector) Index
1.66% -5.88% -5.88% -0.16% 2.64%
Cumulative
Annualized
1 mo 3 mo ytd as of 2018-03-31
  • C
1 yr since inception
SteelPath Panoramic Fund (with sales charge)
0.95% -7.09% -7.09% -11.88% -1.84%
S&P 500 Energy (Sector) Index
1.66% -5.88% -5.88% -0.16% 2.64%
Cumulative
Annualized
1 mo 3 mo ytd as of 2018-05-31
  • C
1 yr since inception
SteelPath Panoramic Fund (NAV)
0.57% 12.24% 3.30% 10.72% 2.48%
S&P 500 Energy (Sector) Index
3.04% 14.55% 6.05% 19.93% 7.41%
Cumulative
Annualized
1 mo 3 mo ytd as of 2018-05-31
  • C
1 yr since inception
SteelPath Panoramic Fund (with sales charge)
0.57% 12.24% 3.30% 10.72% 2.48%
S&P 500 Energy (Sector) Index
3.04% 14.55% 6.05% 19.93% 7.41%
Gross Expense Ratio: 2.90% | Net Expense Ratio: 1.80%

Year SteelPath Panoramic Fund S&P 500 Energy (Sector) Index
2016 26.94% 27.36%
2017 -8.93% -1.01%

Date SteelPath Panoramic Fund S&P 500 Energy (Sector) Index
5/31/2017 0.00 0.00
6/1/2017 0.83 0.66
6/2/2017 -0.62 -0.53
6/5/2017 -0.83 -0.35
6/6/2017 0.62 0.85
6/7/2017 -2.91 -0.58
6/8/2017 -3.43 -0.85
6/9/2017 -0.93 1.60
6/12/2017 -0.73 2.29
6/13/2017 1.04 2.97
6/14/2017 -2.49 1.09
6/15/2017 -4.88 0.41
6/16/2017 -3.84 2.13
6/19/2017 -4.78 1.43
6/20/2017 -5.92 0.17
6/21/2017 -8.10 -1.44
6/22/2017 -7.58 -1.56
6/23/2017 -5.92 -0.82
6/26/2017 -5.50 -1.06
6/27/2017 -5.50 -1.23
6/28/2017 -4.36 -0.66
6/29/2017 -3.32 -0.54
6/30/2017 -2.91 -0.18
7/3/2017 -0.21 1.82
7/5/2017 -3.01 -0.23
7/6/2017 -4.57 -1.33
7/7/2017 -4.98 -1.42
7/10/2017 -4.26 -1.16
7/11/2017 -3.53 -0.64
7/12/2017 -3.22 -0.35
7/13/2017 -2.49 0.10
7/14/2017 -1.56 0.64
7/17/2017 -1.56 0.50
7/18/2017 -2.49 0.01
7/19/2017 0.10 1.42
7/20/2017 -1.25 1.08
7/21/2017 -2.28 0.19
7/24/2017 -2.39 -0.11
7/25/2017 -0.52 1.15
7/26/2017 -0.42 1.25
7/27/2017 0.42 2.28
7/28/2017 0.21 2.09
7/31/2017 -0.42 2.32
8/1/2017 -0.93 2.38
8/2/2017 -2.60 2.06
8/3/2017 -5.61 0.72
8/4/2017 -4.26 1.07
8/7/2017 -5.92 0.22
8/8/2017 -6.54 0.10
8/9/2017 -5.92 0.22
8/10/2017 -7.06 -0.86
8/11/2017 -7.27 -1.54
8/14/2017 -7.79 -1.79
8/15/2017 -8.41 -2.18
8/16/2017 -9.35 -3.08
8/17/2017 -10.38 -4.48
8/18/2017 -9.55 -3.94
8/21/2017 -10.49 -4.47
8/22/2017 -9.55 -3.81
8/23/2017 -8.62 -3.44
8/24/2017 -8.52 -3.46
8/25/2017 -8.10 -2.96
8/28/2017 -8.83 -3.41
8/29/2017 -8.83 -3.52
8/30/2017 -8.52 -3.49
8/31/2017 -6.96 -2.99
9/1/2017 -6.13 -2.13
9/5/2017 -6.44 -1.58
9/6/2017 -5.50 0.04
9/7/2017 -5.82 0.23
9/8/2017 -7.79 -0.78
9/11/2017 -6.96 0.23
9/12/2017 -5.71 0.75
9/13/2017 -3.74 2.00
9/14/2017 -3.12 2.39
9/15/2017 -2.91 2.66
9/18/2017 -2.39 3.11
9/19/2017 -2.18 3.50
9/20/2017 -0.73 4.21
9/21/2017 -0.83 4.14
9/22/2017 0.00 4.70
9/25/2017 2.08 6.24
9/26/2017 2.18 6.03
9/27/2017 2.39 6.54
9/28/2017 1.97 6.70
9/29/2017 1.97 6.65
10/2/2017 2.60 6.64
10/3/2017 2.60 6.55
10/4/2017 2.28 6.48
10/5/2017 3.12 6.91
10/6/2017 1.87 6.04
10/9/2017 1.77 6.30
10/10/2017 1.77 6.41
10/11/2017 2.18 6.67
10/12/2017 1.45 6.27
10/13/2017 1.04 6.22
10/16/2017 1.04 6.46
10/17/2017 0.83 6.54
10/18/2017 -0.21 5.80
10/19/2017 -0.83 5.47
10/20/2017 -0.62 5.76
10/23/2017 -2.49 5.14
10/24/2017 -2.70 5.42
10/25/2017 -3.84 4.70
10/26/2017 -3.32 4.96
10/27/2017 -1.14 5.17
10/30/2017 -0.52 5.57
10/31/2017 0.42 5.95
11/1/2017 2.39 7.10
11/2/2017 0.93 6.77
11/3/2017 1.97 7.05
11/6/2017 5.40 9.41
11/7/2017 5.40 9.22
11/8/2017 4.26 8.78
11/9/2017 4.67 9.10
11/10/2017 4.47 8.49
11/13/2017 2.91 7.90
11/14/2017 -0.21 6.24
11/15/2017 -0.93 5.01
11/16/2017 -0.93 4.59
11/17/2017 0.21 5.04
11/20/2017 -0.21 4.85
11/21/2017 -0.31 5.08
11/22/2017 0.42 5.54
11/24/2017 0.93 5.83
11/27/2017 -0.83 4.74
11/28/2017 -0.62 5.60
11/29/2017 -0.31 6.17
11/30/2017 1.25 7.82
12/1/2017 2.49 8.67
12/4/2017 1.87 8.64
12/5/2017 0.93 8.12
12/6/2017 -1.25 6.74
12/7/2017 -0.21 7.10
12/8/2017 0.83 8.06
12/11/2017 2.08 8.83
12/12/2017 1.56 8.48
12/13/2017 1.04 8.33
12/14/2017 0.73 7.98
12/15/2017 0.52 7.96
12/18/2017 2.18 8.70
12/19/2017 2.18 8.82
12/20/2017 3.84 10.32
12/21/2017 5.71 12.62
12/22/2017 6.23 12.86
12/26/2017 7.79 13.79
12/27/2017 7.17 13.42
12/28/2017 7.68 13.53
12/29/2017 7.27 13.08
1/2/2018 9.45 15.10
1/3/2018 10.80 16.86
1/4/2018 11.63 17.55
1/5/2018 11.01 17.53
1/8/2018 11.53 18.22
1/9/2018 11.53 17.84
1/10/2018 11.11 17.73
1/11/2018 13.60 20.11
1/12/2018 14.43 21.27
1/16/2018 12.56 19.78
1/17/2018 12.77 20.80
1/18/2018 11.63 19.84
1/19/2018 12.05 19.72
1/22/2018 14.33 22.24
1/23/2018 14.75 22.05
1/24/2018 14.23 21.75
1/25/2018 12.67 20.81
1/26/2018 13.08 21.57
1/29/2018 11.11 19.69
1/30/2018 8.20 17.29
1/31/2018 7.89 17.39
2/1/2018 8.41 18.68
2/2/2018 4.57 13.79
2/5/2018 1.45 8.83
2/6/2018 3.01 9.62
2/7/2018 1.35 7.79
2/8/2018 -3.01 4.58
2/9/2018 -3.43 4.52
2/12/2018 -0.83 6.27
2/13/2018 -1.56 5.80
2/14/2018 1.04 7.28
2/15/2018 0.83 7.00
2/16/2018 0.42 6.76
2/20/2018 0.21 6.18
2/21/2018 -1.45 4.42
2/22/2018 0.31 5.55
2/23/2018 2.80 7.87
2/26/2018 2.91 8.58
2/27/2018 1.25 7.14
2/28/2018 -1.25 4.69
3/1/2018 -0.83 4.52
3/2/2018 0.00 4.95
3/5/2018 1.87 6.06
3/6/2018 1.56 6.12
3/7/2018 0.62 5.24
3/8/2018 0.42 5.19
3/9/2018 2.39 7.23
3/12/2018 2.70 7.17
3/13/2018 1.97 6.41
3/14/2018 1.35 5.72
3/15/2018 -0.52 5.28
3/16/2018 0.62 6.35
3/19/2018 -1.77 4.55
3/20/2018 -1.14 5.43
3/21/2018 2.08 8.20
3/22/2018 0.00 6.00
3/23/2018 -0.73 5.36
3/26/2018 0.62 7.23
3/27/2018 -1.25 6.30
3/28/2018 -2.18 4.18
3/29/2018 -0.21 6.43
4/2/2018 -3.43 4.31
4/3/2018 -1.66 6.54
4/4/2018 -1.87 6.39
4/5/2018 0.00 8.32
4/6/2018 -2.49 6.32
4/9/2018 -2.39 6.82
4/10/2018 1.87 10.37
4/11/2018 3.74 11.52
4/12/2018 3.84 11.51
4/13/2018 4.78 12.73
4/16/2018 6.02 13.87
4/17/2018 6.96 14.33
4/18/2018 9.03 16.10
4/19/2018 8.93 16.26
4/20/2018 8.72 15.67
4/23/2018 9.55 16.38
4/24/2018 8.00 15.13
4/25/2018 9.24 16.06
4/26/2018 10.49 17.81
4/27/2018 9.55 16.43
4/30/2018 10.28 16.39
5/1/2018 9.97 15.74
5/2/2018 10.38 16.20
5/3/2018 9.03 15.93
5/4/2018 10.28 16.45
5/7/2018 11.01 16.67
5/8/2018 11.94 17.58
5/9/2018 13.40 19.97
5/10/2018 13.50 20.95
5/11/2018 12.88 21.14
5/14/2018 13.50 21.90
5/15/2018 13.71 21.94
5/16/2018 14.54 22.42
5/17/2018 16.61 24.21
5/18/2018 15.68 23.24
5/21/2018 16.93 24.44
5/22/2018 15.06 22.85
5/23/2018 14.23 22.85
5/24/2018 12.77 20.80
5/25/2018 10.07 17.65
5/29/2018 9.87 17.27
5/30/2018 12.88 20.93
5/31/2018 10.90 19.93
$ per share as of 06/19/2018

Date 2013 2014 2015 2016 2017
Short Term
Long Term
Total Amount of Distribution
Record Date
Ex Div Date
Pay Date

There is no guarantee of the payment of any dividend or other distributions at any level.

Portfolio

Top Holdings

(21.5% of assets as of 05/31/2018)


Portfolio Holdings Breakdown

Equity Sector
Asset Allocation
Market Cap 3
Equity Sector SteelPath Panoramic Fund S&P 500 Energy (Sector) Index Overweight / Underweight
Exploration & Production 48.0% 29.9% 18.1%
Equipment & Services 15.4% 13.1% 2.3%
Midstream 12.8% 5.7% 7.1%
Refining 8.2% 11.0% -2.9%
Chemicals 7.8% - -
Transportation & Industrial 6.5% - -
Asset Allocation SteelPath Panoramic Fund S&P 500 Energy (Sector) Index Overweight / Underweight
Equity 98.7% 100.0% -1.3%
Market Cap SteelPath Panoramic Fund S&P 500 Energy (Sector) Index Overweight / Underweight
Large 41.4% 92.5% -51.1%
Mid 38.1% 7.5% 30.6%
Small 19.2% - -
Analytics
(As of 05/31/2018)

Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$23.30 B
$149.60 B
Median Market Cap (weighted)
$7.90 B
$78.90 B
P/E Ratio (LTM)
64.67
32.49
P/E Ratio (NTM)
17.76
19.11
Price/Book
2.06
2.03
Return on Equity
3.13%
7.79%
Turnover Ratio
38%
-
Active Share
73.86%
-
Documents
  1. 1. Special Risks: Small-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a small-sized company, if any gain is realized at all. Investments in securities of growth companies may be volatile. Investing in MLPs involves additional risks as compared to the risks of investing in common stock, including risks related to cash flow, dilution and voting rights. The Fund may invest no more than 25% of total assets in MLPs. Energy infrastructure companies are subject to risks specific to the industry such as fluctuations in commodity prices, reduced volumes of natural gas or other energy commodities, environmental hazards, changes in the macroeconomic or the regulatory environment or extreme weather. MLPs may trade less frequently than larger companies due to their smaller capitalizations which may result in erratic price movement or difficulty in buying or selling. Below-investment-grade (“high yield” or "junk") bonds are more at risk of default and are subject to liquidity risk. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. The Fund is classified as a “non-diversified” fund and may invest a greater portion of its assets in the securities of a single issuer.
  2. 2. Access index definitions.
  3. 3. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund’s prospectus.
  4. 4. Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $1 million or more and to retirement plan service provider platforms. The minimum account balance for class I shares is $2.5 million. Class I shares are sold at net asset value without a sales charge. Please see Fund prospectuses for additional information.
  5. A. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily.
  6. B. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.
  7. C. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund). These returns would be lower if sales charges were taken into consideration. Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.
  8. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  9. E. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions and a 1% contingent deferred sales charge for the first year where indicated. Class C shares are subject to a 0.75% annual asset-backed sales charge. Returns do not consider capital gains or income taxes on an individual's investment.
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