Catalyst Buffered Shield Fund Class I
SHIIX
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- Catalyst Buffered Shield Fund Class I (SHIIX) is an open-end mutual fund that seeks long-term capital appreciation by investing primarily in put and call options on exchange-traded funds tracking the S&P 500 Index, supplemented by fixed income securities including short-term corporate bond ETFs such as Vanguard Short-Term Corporate Bond Index Fund ETF Shares, PGIM Ultra Short Bond ETF, and iShares 1-5 Year Investment Grade Corporate Bond ETF; downside put spreads to provide a target 12.5% loss limit relative to S&P 500 declines; and upside call spreads to finance the hedge while imposing a cap on gains. The fund implements its strategy through a rolling laddered options portfolio that is regularly optimized to maintain consistent tail-risk protection and upside participation, with a distinctive "stepping up" hedge approach that adjusts the floor in rising markets. Launched on April 14, 2015 and domiciled in the United States, the fund is managed by Catalyst Capital Advisors LLC as investment advisor and Exceed Advisory LLC as sub-advisor, with Joseph Halpern serving as portfolio manager. The fund offers Class I (SHIIX), Class A (SHIEX), and Class C (SHINX) shares, targeting individual and institutional investors seeking equity-hedged exposure with defined downside buffers; it operates with total net assets of approximately $19 million as of September 30, 2025 and a net expense ratio of 1.35% for Class I shares (contractually capped through October 31, 2026). Geographically focused on U.S. markets, the portfolio allocates heavily to U.S. bonds (around 60%), non-U.S. bonds, cash equivalents, and limited U.S. equity exposure via options. In recent developments, Catalyst Funds completed the acquisition of the Exceed Defined Shield Fund, rebranding it as the Catalyst Buffered Shield Fund (including SHIIX) while preserving the core investment strategy under Exceed Advisory's management. The fund maintained its Morningstar 4-star overall rating (out of 139 funds in the Equity Hedged category) as of September 30, 2025, reflecting strong risk-adjusted returns over 10 years; year-to-date performance through Q3 2025 stood at 8.61% for Class I shares, with ongoing expense waivers extended through October 31, 2026.