FS Multi-Strategy Alternatives A (FSMMX)

Fund Assets	1.40B
Expense Ratio	2.312%
Min. Investment	$2,500
Turnover	636.00%
Dividend (ttm)	0.24
Dividend Yield	2.07%
Dividend Growth	2.45%
Payout Frequency	Annual
Ex-Dividend Date	Dec 15, 2025

Previous Close	11.50
YTD Return	3.70%
1-Year Return	4.69%
5-Year Return	25.61%
52-Week Low	11.04
52-Week High	11.60
Beta (5Y)	0.12
Holdings	670
Inception Date	May 16, 2017

About FSMMX

FS Multi-Strategy Alternatives Fund Class A is a diversified mutual fund designed to deliver positive absolute returns over a full market cycle, regardless of traditional market conditions. Its core function is to strategically allocate assets across multiple alternative investment strategies, targeting lower correlation with conventional equity and fixed income markets. The fund invests mainly in mortgage securities, corporate bonds, asset-backed securities, and short-term instruments, with smaller allocations to equities and options. This multi-strategy approach aims to provide diversification and risk reduction within a single investment vehicle. The fund holds hundreds of individual securities and maintains a low historic beta, reflecting its relatively low sensitivity to broad market swings. It caters to investors seeking exposure to alternatives as a complement to traditional portfolios, serving a role in potentially smoothing out performance and preserving capital during periods of market volatility. FS Multi-Strategy Alternatives Fund Class A is managed by a team utilizing both internal and third-party expertise in alternative assets, emphasizing adaptability and broad market coverage within alternative investment segments.

• Fund Family: Future Standard
• Category: Multistrategy
• Performance Rating: Average
• Risk Rating: Low
• Stock Exchange: Nasdaq
• Ticker Symbol: FSMMX
• Share Class: Class A
• Index: ICE BofA US 3-Month T Bill TR IX

Performance

FSMMX had a total return of 4.69% in the past year, including dividends. Since the fund's inception, the average annual return has been 3.51%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
FSMSX	Class I	2.02%

Top 10 Holdings

160.41% of assets

Name	Symbol	Weight
Federal National Mortgage Association - FANNIE MAE OR FREDDIE MAC 30YR TBA (JULY)	FNCL.5.5 7.11	105.43%
Federal National Mortgage Association - FANNIE MAE OR FREDDIE MAC 30YR TBA (JULY)	FNCL.5 7.11	25.41%
BARCLAYS BANK PLC MTN ZERO COUPON 12/29/2026	BACR.0 12.29.26 DMNf	10.15%
S&P 500 ANNL DIV DEC27 PHYSICAL INDEX FUTURE.	SDAZ27	4.28%
BARCLAYS BANK PLC MTN ZERO COUPON 12/29/2026	BACR.0 12.29.26 DMNh	3.64%
SOCIETE GENERALE SA MTN ZERO COUPON 04/20/2029	SOCGEN.0 04.20.29	3.23%
BARCLAYS BANK PLC MTN ZERO COUPON 12/29/2026	BACR.0 12.29.26 DMNg	2.65%
MORGAN STANLEY COLLATERAL BALANCE FS FUNDS	n/a	2.18%
FANNIE MAE OR FREDDIE MAC 30YR TBA (JUNE)	FNCL.5 6.11	1.88%
United States of America - US 5YR NOTE (CBT) SEP26 FINANCIAL COMMODITY FUTURE.	FVU26	1.56%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 15, 2025	$0.4281	Dec 16, 2025
Dec 12, 2024	$0.250	Dec 13, 2024
Dec 11, 2023	$0.3715	Dec 12, 2023
Dec 8, 2022	$0.4241	Dec 9, 2022
Dec 28, 2021	$0.3206	Dec 29, 2021
Dec 21, 2020	$0.04216	Dec 22, 2020

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Oct 16, 2026

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