ETNRX
Eventide Core Bond Fund
MUTUAL FUND SERIES TRUST
Expense ratio1
0.68%
Net assets2
$181.87M
Holdings2
103
Category
Taxable Bond
2025 return3
7.27%

Investment objective & strategy

As of Nov. 5, 2025 · prospectus

Objective. The Eventide Core Bond Fund?s (the ?Core Bond Fund? or the ?Fund?) investment objective is total return consistent with income generation.

Strategy. The Fund seeks to achieve its objective through investments in income-producing securities issued by entities deemed by the Fund?s investment adviser, Eventide Asset Management, LLC (?Eventide? or the ?Adviser?), to be serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly using the Adviser?s faith-based screening criteria as more fully described below under ?Faith-Based Screening.? Income producing securities that the Fund may invest in include, but are not limited to, corporate bonds; preferred stocks, convertible debt and other hybrid securities that have debt and equity characteristics but are predominantly debt in nature; agency and non-agency residential and commercial mortgage-backed securities; asset-backed securities (including auto loans and leases, equipment loans and leases, and credit cards); green bonds … The Fund seeks to achieve its objective through investments in income-producing securities issued by entities deemed by the Fund?s investment adviser, Eventide Asset Management, LLC (?Eventide? or the ?Adviser?), to be serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly using the Adviser?s faith-based screening criteria as more fully described below under ?Faith-Based Screening.? Income producing securities that the Fund may invest in include, but are not limited to, corporate bonds; preferred stocks, convertible debt and other hybrid securities that have debt and equity characteristics but are predominantly debt in nature; agency and non-agency residential and commercial mortgage-backed securities; asset-backed securities (including auto loans and leases, equipment loans and leases, and credit cards); green bonds (i.e., bonds that allow issuers to use proceeds for environmental projects); social bonds (i.e., bonds that allow issuers to use proceeds for social projects); sustainable bonds (i.e., bonds that are a combination of green and social bonds); government agency debt instruments; and municipal bonds (collectively, ?Bonds?). Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in Bonds. The Fund may invest in Bonds of any maturity and, under normal market conditions, the Bonds held by the Fund have a weighted average duration between three years and nine years. Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a security?s price to changes in interest rates. Effective duration is a measure of the Fund?s portfolio duration adjusted for the anticipated effect of interest rate changes on bond and mortgage pre-payment rates. The longer a security?s duration, the more sensitive it will be to changes in interest rates. The more sensitive a security is to changes in interest rates, the higher its volatility risk. For example, if a bond has a duration of 5 years, a 1% rise in rates would result in approximately a 5% decline in the bond?s price. If a bond has a duration of 10 years, a 1% rise in interest rates would result in approximately a 10% decline in the bond?s price. The Fund invests predominantly in investment grade securities. With respect to both fixed income and equity securities, the Fund may invest in the securities of foreign entities and may invest in companies of any market capitalization. The Fund may invest in private and other issuers whose securities may have legal or contractual restrictions on resale or are otherwise illiquid (?Illiquid Investments?), which can impact their valuation. The Fund will not invest more than 15% of the Fund?s net assets in Illiquid Investments. Faith-Based Screening. The Adviser uses its proprietary screening methodology to analyze all potential investments for the company?s ability to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below. The values assessed in the Adviser?s screening process are inspired by the Christian faith and rooted in a biblical worldview. While few companies may reach these ideals in every area of their business, these principles articulate the Adviser?s highest expectations for the companies in which the Fund invests. The Adviser uses its screening process in connection with other fundamental research processes to establish the Fund?s eligible investment universe. Securities are generally ineligible within the Fund?s portfolio unless the Adviser believes that the faith-based screens are met. If the Adviser?s research identifies events and/or business changes suggesting that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company?s securities while the Adviser performs additional research, including possible direct engagement with the company to assess practices. The Adviser?s faith-based screening process for potential investments does not apply relative weights between values-based factors and financial factors. There is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles which help to guide the Adviser?s research and investment framework. Specifically, the Adviser seeks to invest in companies that reflect the following values: Respecting the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling, pornography, tobacco, and alcohol. Demonstrating a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding products and services that promote weapons production and proliferation. Promoting family and community: this includes protecting children from violent forms of entertainment and serving low-income communities. Exhibiting responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated by a company?s record regarding litigation, regulatory actions against the company, and its record of providing products and services that improve the lives of people. Practicing environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources. Consistent with the Adviser?s values, the Fund may invest in domestic and/or foreign fixed-income securities, such as notes (including standalone notes not rated by any agency), to help fund community development institutions and projects aimed at serving human needs such as those of low-to-moderate income families and communities. Investments that meet the Adviser?s faith-based criteria are analyzed by the Fund?s investment sub-adviser, Boyd Watterson Asset Management, LLC (the ?Sub-Adviser?) for possible inclusion in the Fund?s portfolio. The Sub-Adviser builds the Fund?s portfolio based on macroeconomic trends and forecasts in economic growth, inflation expectations, and monetary policy. The Sub-Adviser strives to generate excess return through sector allocation (adjusting allocations across major sectors of the bond market based on assessments of fundamentals and current versus historical valuation relationships), duration management (holding securities to optimize interest rates), yield curve positioning (adjusting holdings to capitalize on expected changes in the Treasury yield curve), and security selection. The ability of the Sub-Adviser to deliver returns varies according to the economic and market environment. The Sub-Adviser?s methods are intended to accumulate value over a full market cycle. Securities may be sold when the Adviser or the Sub-Adviser believes that they no longer represent relatively attractive investment opportunities or when the Adviser believes the underlying company?s practices are no longer consistent with the Adviser?s faith-based values.

Top holdings

As of March 31, 2026 · N-PORT
SecurityTickerValue% of fund
US BANK MMDA - USBGFS 9 $3.97M 2.18%
G2 MB0744 $3.12M 1.71%
FN MA4805 $2.86M 1.57%
FN MA5914 $2.83M 1.56%
FREDDIE MAC $2.79M 1.54%
JPM V6.07 10/22/27 JPM $2.78M 1.53%
FN MA4700 $2.76M 1.52%
FANNIE MAE $2.72M 1.50%
FR SD8238 $2.69M 1.48%
FANNIE MAE $2.67M 1.47%
View all holdings →

Allocation by sector

As of March 31, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Dec 31, 2025 → Mar 31, 2026
Opened
10
Exited
6
Increased
23
Decreased
27
Unchanged
43

How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.

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Similar funds

Funds whose portfolios most overlap this one, by weight
FundOverlapNet exp.
Eventide Limited-Term Bond Fund · ETABX, ETCBX, ETIBX, ETNBX 33% 0.45%
Eventide Balanced Fund · ETAMX, ETCMX, ETIMX, ETNMX 29% 0.82%
iShares Agency Bond ETF · AGZ 6% 0.20%
View all similar funds →

Footnotes

  1. Expense ratio as of November 5, 2025, from the fund's prospectus.
  2. Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
  3. Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).

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