MDFIX

ActiveMin. $1M

Matisse Discounted Bond CEF Strategy

Category: Other (5,046 funds)

Expense Ratio

3.22%

Annual Cost per $10K

$322.00

30-Year Fee Drag per $10K

$45,685

at 7% annual return

Fund Type

Mutual Fund

Active · Min: $1M

Trailing 12-Month

+5.84%

Asset Allocation

US Equity

61%

Cash

39%

Fee Comparison

MDFIX

3.22%

Other average

0.99%

Other cheapest

FCDSX

0.00%

Index benchmark

0.03%

225% more expensive than category average

Historical Returns

Monthly total returns (dividends reinvested) from SEC N-PORT filings · As of December 2025 · Updated quarterly

+45.42%3Y

Compare to

Fee Impact Calculator

Investment

Years

Annual Return

MDFIX at 3.22%$152,188

At index rates (0.03%)$377,424

Zero fees (theoretical)$380,613

Total fee drag$228,425

Cost vs index fund−$225,236

Similar Funds (100)

Ranked by allocation similarity weighted by fund size · Returns (dividends reinvested) from SEC N-PORT filings · As of December 2025

Ticker	Name	ER	1yr	3yr	5yr
MDFIX	Matisse Discounted Bond CEF Strategy	3.22%	+5.84%	+13.29%	+7.04%
ASCLX	AB Select US Long/Short Portfolio	1.90%	+9.61%	+11.17%	+9.25%
FTAGX	WESTWOOD BROADMARK TACTICAL GROWTH FUND	2.38%	-4.17%	-23.42%	—
RDMAX	Return Stacked Balanced Allocation & Systematic Macro Fund	2.26%	+6.08%	+2.40%	+5.66%
TQQQ	ProShares UltraPro QQQ	0.84%	+31.32%	+49.61%	+18.09%
CDAZX	Multi-Manager Directional Alternative Strategies Fund$1M min	2.42%	+18.70%	+13.71%	+13.10%
UPRO	ProShares UltraPro S&P500	0.91%	+24.55%	+39.00%	+26.71%
SMPIX	SEMICONDUCTOR ULTRASECTOR PROFUND	1.46%	+78.25%	+112.54%	+56.74%
SOXL	Direxion Daily Semiconductor Bull 3X Shares	0.75%	+60.66%	+76.46%	+24.25%
AGOX	Adaptive Alpha Opportunities ETF$1M min	1.39%	+9.46%	+13.29%	—
SPXL	Direxion Daily S&P 500 Bull 3X Shares	0.87%	+43.27%	+51.71%	+36.92%
TMF	Direxion Daily 20+ Year Treasury Bull 3X Shares	0.91%	-11.13%	-13.72%	-33.59%
TECL	Direxion Daily Technology Bull 3X Shares	0.85%	+80.61%	+79.78%	+42.54%
FOCSX	Fidelity Small Cap Growth K6 Fund	0.61%	+12.88%	+16.45%	+10.84%
UOPIX	ULTRANASDAQ-100 PROFUND	1.45%	+51.52%	+55.94%	+27.87%
LABU	Direxion Daily S&P Biotech Bull 3X Shares	0.93%	+10.11%	-3.72%	-34.16%
DIAMX	DIAMOND HILL LONG SHORT FUND	1.94%	+16.03%	+12.78%	-3.00%
DPST	Direxion Daily Regional Banks Bull 3X Shares	0.90%	-24.41%	-33.84%	-7.70%
SSGVX	State Street Global All Cap Equity ex-U.S. Index Portfolio	0.04%	+26.83%	+20.55%	+11.36%
CWEB	Direxion Daily CSI China Internet Index Bull 2X Shares	1.25%	+35.54%	+35.00%	-36.70%
OASRX	Oakhurst Strategic Defined Risk Fund	1.83%	—	—	—
VYSDX	VOYA SMALL COMPANY FUND	1.92%	+5.72%	+10.60%	+10.32%
UDOW	ProShares UltraPro Dow30	0.95%	+12.68%	+26.96%	+20.50%
IILGX	THRIVENT GLOBAL STOCK FUND	0.65%	+19.81%	+19.59%	+14.09%
UAPIX	ULTRA SMALL CAP PROFUND	1.67%	+15.53%	+11.25%	+11.66%
OTPIX	NASDAQ-100 PROFUND	1.47%	+27.77%	+29.43%	+16.60%
HSGFX	HUSSMAN STRATEGIC MARKET CYCLE FUND	1.23%	-9.62%	-18.24%	-15.77%
COIDX	IDX Adaptive Opportunities Fund$1M min	2.06%	+13.91%	+2.21%	—
DFNRX	Kensington Defender Fund	—	—	—	—
MDYG	SPDR(R) S & P 400 Mid Cap Growth ETF	0.15%	+6.35%	+12.59%	+10.56%
FAS	Direxion Daily Financial Bull 3X Shares	0.89%	+16.83%	+31.53%	+38.28%
CWI	SPDR(R) MSCI ACWI EX-US ETF	0.30%	+26.73%	+21.13%	+11.89%
DHSCX	DIAMOND HILL SMALL CAP FUND	1.26%	+12.10%	+14.09%	+0.46%
USD	ProShares Ultra Semiconductors	0.95%	+42.76%	+104.62%	+54.55%
KCEIX	Knights of Columbus Long/Short Equity Fund	2.03%	—	—	—
URTY	ProShares UltraPro Russell2000	0.95%	-4.79%	+1.87%	+4.29%
TIBOX	Thornburg Investment Income Builder Fund	0.84%	+30.88%	+23.10%	+18.21%
TWAIX	THRIVENT INTERNATIONAL EQUITY FUND	0.80%	+22.67%	+19.03%	+11.32%
JGLYX	JPMorgan Small Cap Growth Fund	1.24%	+4.23%	+7.35%	+1.28%
DXQLX	Direxion Monthly NASDAQ-100 Bull 1.75X Fund	1.52%	+28.93%	+36.26%	+18.39%
LCORX	Leuthold Core Investment Fund	1.43%	—	—	—
IWM	iShares Russell 2000 ETF	0.19%	+11.59%	+10.92%	+10.83%
NAIL	Direxion Daily Homebuilders & Supplies Bull 3X Shares	0.95%	-53.96%	+31.58%	+8.59%
HRSIX	Hood River Small-Cap Growth Fund	1.07%	+21.83%	+21.12%	+17.83%
RYSEX	Royce Small-Cap Special Equity Fund	1.22%	+4.94%	+6.83%	+9.27%
GUSH	Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares	0.93%	-17.32%	-19.74%	+37.58%
RLY	SPDR SSGA Multi-Asset Real Return ETF	0.50%	+13.05%	+8.07%	+13.58%
RULRX	Rule One Fund	2.35%	+8.00%	+13.41%	+11.47%
ULPIX	ULTRABULL PROFUND	1.47%	+32.76%	+36.43%	+27.22%
DFEN	Direxion Daily Aerospace & Defense Bull 3X Shares	0.95%	+165.27%	+67.66%	+57.98%
MDYV	SPDR(R) S & P 400 Mid Cap Value ETF	0.15%	+7.31%	+11.13%	+15.39%
CEFS	Saba Closed-End Funds ETF	4.29%	+12.48%	+17.49%	+14.35%
QEFA	SPDR MSCI EAFE StrategicFactors ETF	0.30%	+21.86%	+19.07%	+11.75%
RICAX	Investment Co of America	1.36%	+19.75%	+23.73%	+16.97%
XBI	SPDR(R) S&P(R) Biotech ETF	0.35%	+2.67%	+6.68%	-2.36%
CRTOX	Potomac Tactical Opportunities Fund	1.74%	+18.36%	+9.94%	+6.70%
CPAEX	Counterpoint Tactical Equity Fund	2.03%	+14.15%	+17.74%	+21.31%
IRMAX	Voya RussellTM Mid Cap Index Portfolio	0.40%	+10.42%	+13.30%	+11.49%
CURE	Direxion Daily Healthcare Bull 3X Shares	0.93%	-18.93%	-4.37%	+11.41%
PRFZ	Invesco RAFI US 1500 Small-Mid ETF	0.39%	+12.07%	+13.06%	+15.09%
HCPIX	HEALTH CARE ULTRASECTOR PROFUND	1.76%	-5.48%	+1.73%	+7.59%
SXMAX	SAAT MODERATE STRATEGY ALLOCATION FUND	1.25%	+11.32%	+13.62%	+8.66%
BTPIX	WESTWOOD BROADMARK TACTICAL PLUS FUND	1.17%	-1.24%	+1.56%	—
ERX	Direxion Daily Energy Bull 2X Shares	0.90%	-7.37%	-6.14%	+48.90%
CRTBX	Potomac Tactical Rotation Fund	1.58%	+11.21%	+5.46%	+8.20%
PVFIX	Pinnacle Value Fund	1.32%	+6.17%	+13.19%	+13.81%
RFNAX	American Funds Fundamental Investors	1.37%	+21.05%	+22.85%	+16.25%
BIPIX	BIOTECHNOLOGY ULTRASECTOR PROFUND	1.52%	+16.85%	+13.84%	+12.09%
BRBCX	BlackRock Tactical Opportunities Fund	1.04%	+8.01%	+7.17%	+5.00%
CGHAX	Timber Point Global Allocations Fund	—	—	—	—
MERFX	The Merger Fund	1.56%	-3.52%	-35.79%	-33.41%
HIBL	Direxion Daily S&P 500 High Beta Bull 3X Shares	0.99%	+63.63%	+38.26%	+36.13%
UWM	ProShares Ultra Russell2000	0.95%	+3.89%	+8.21%	+9.63%
WEBL	Direxion Daily Dow Jones Internet Bull 3X Shares	1.00%	+61.91%	+66.16%	-5.33%
SWMIX	Schwab International Opportunities Fund	0.85%	+23.81%	+17.00%	+6.86%
SLPIX	SMALL-CAP PROFUND	1.78%	+10.38%	+9.08%	+8.83%
KAGAX	Kensington Dynamic Allocation Fund	1.67%	+42.71%	+15.49%	—
SSDQX	State Street Target Retirement 2055 Fund	0.09%	+19.48%	+18.38%	+11.66%
BIVRX	Invenomic Fund	3.41%	-5.00%	+2.13%	+23.05%
SSO	ProShares Ultra S&P500	0.89%	+21.64%	+30.12%	+21.87%
UMPIX	ULTRA MID CAP PROFUND	1.56%	+1.09%	+12.41%	+16.20%
MARB	First Trust Merger Arbitrage ETF	1.69%	+7.03%	+2.61%	+2.43%
IWO	iShares Russell 2000 Growth ETF	0.24%	+13.49%	+12.64%	+7.89%
QLD	ProShares Ultra QQQ	0.95%	+28.75%	+39.24%	+19.14%
TEPIX	TECHNOLOGY ULTRASECTOR PROFUND	1.53%	+48.19%	+46.89%	+25.93%
PTF	Invesco Dorsey Wright Technology Momentum ETF	0.60%	+28.32%	+29.06%	+17.63%
XLSR	SPDR(R) SSGA U.S. Sector Rotation ETF	0.70%	+15.46%	+15.83%	+12.69%
TFAQX	TFA Quantitative Fund$1M min	2.71%	+13.96%	+17.17%	—
HSLFX	The Hartford Small Cap Growth Fund	0.86%	+9.46%	+11.41%	+6.18%
SSDEX	State Street Target Retirement 2045 Fund	0.09%	+18.35%	+17.50%	+11.05%
SCAUX	Invesco Income Advantage U.S. Fund	1.11%	+13.93%	+14.80%	+10.66%
OWSMX	Old Westbury Small & Mid Cap Strategies Fund	1.13%	+13.77%	+12.64%	+6.51%
MRFOX	MARSHFIELD CONCENTRATED OPPORTUNITY FUND	1.02%	+10.72%	+18.84%	+14.80%
RNGAX	New Economy Fund	1.51%	+18.09%	+20.09%	+9.73%
DUSL	Direxion Daily Industrials Bull 3X Shares	0.98%	+29.64%	+41.34%	+34.89%
IWC	iShares Micro-Cap ETF	0.60%	+22.20%	+11.22%	+11.55%
BLPIX	BULL PROFUND	1.49%	+18.52%	+20.19%	+15.33%
ARBCX	THE ARBITRAGE FUND	1.71%	+5.12%	+3.97%	+2.61%
GARUX	Goldman Sachs Absolute Return Tracker Fund	0.73%	+9.45%	+9.32%	+6.69%
DRN	Direxion Daily Real Estate Bull 3X Shares	1.01%	-24.94%	-1.40%	+2.31%
EIVPX	Parametric Volatility Risk Premium - Defensive Fund$1M min	0.47%	+14.24%	+15.18%	+12.10%

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