Exponential Technologies

Ticker

ETIEX

$11.68
-1.10%
03/31/2025
Annualized Returns 1
1-Year
2.52%
5-Year
—
10-Year
—
Since Inception
7.09%
Morningstar Overall 2
Star Ratings
2

Technology
239 Funds in Category

Literature
Fact Sheet Prospectus See All Literature


Unless otherwise noted, all data is as of 12/31/2024. Performance is historical and does not guarantee future results. Investment return and principal value will fluctuate with changing market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the data quoted. Morningstar ratings are based on risk-adjusted returns.

Fund Objective

Seeks to provide long-term capital appreciation.

About the Fund

A concentrated mutual fund representing our thesis regarding long-term capital appreciation in the information technology, communications, internet and direct marketing retail, and healthcare technology and devices industries. (≥80%). The fund has a non-diversified approach in which ≥5% holdings cumulatively can be ≥25% of the fund. May invest in illiquid securities (≤15%).

Fund Distinctives

Focused on Small and Mid-sized Companies

Median market capitalization of $12.1 billion as of 12/31/2024.

Highly Concentrated and Non-diversified Investment Approach

Investing in 25-75 companies within select industries seeking a high active share vs benchmark and other technology mutual funds.

Compelling Value for Society and Other Stakeholders

Targeting large scale unmet technological needs to address compelling requirements in society.

At a Glance

Benchmarks
Bloomberg US 2500 Technology Total Return Index 3
Morningstar Classification
Technology
Total Assets
$90.19 million
Inception Date
06/30/2020
Number of Holdings
60
Average Market Cap
$26.0 billion
Median Market Cap
$12.1 billion
Distribution Frequency
Annually
Portfolio Turnover Ratio 4
70%
Annual Turnover Range 5
69%-80%
Management Fees
1.10%
Sales Charge 6
None
Other Expenses 7
0.39%
12b-1 Fees
0.00%
Gross Expenses
1.49%
Net Expenses 8
1.43%
Minimum Investment 9
$100,000

Performance and Risk

Trailing Returns (%) As of the quarter ending 12/31/2024

Trailing Returns (%) As of the quarter ending 12/31/2024

Eventide Exponential Technologies Fund
As of 03/31/2025
YTD		3-month1-year3-year5-year10-yearSince InceptionInception Date
Class I-12.97%10.092.52-9.37--7.0906/30/2020
Class A without load-13.03%9.932.23-9.59--6.8406/30/2020
Class A with 5.75% load-18.03%3.59-3.63-11.36--5.4506/30/2020
Class C-13.16%9.741.42-10.28--6.0506/30/2020
Class N-13.02%10.022.31-9.57--6.8606/30/2020
Benchmark  
Bloomberg US 2500 Technology Total Return Index3-14.25%8.2518.481.40--11.0606/30/2020

Calendar Year Returns (%)

Calendar Year Returns (%)

2021202220232024
Eventide Exponential Technologies Fund, Class I15.64-44.9831.962.52
Bloomberg US 2500 Technology Total Return Index310.61-28.7723.5618.48
Performance is historical and does not guarantee future results. Investment return and principal value will fluctuate with changing market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the data quoted. Investors cannot directly invest in an index, and unmanaged index returns do not reflect any fees, expenses, or sales charges. The volatility of an index may be materially different than that of the Fund, and investors should not expect the Fund to achieve the same results as a listed index. This material must be read along with the Fund's prospectus, which may be obtained at eventidefunds.com/prospectus. Performance data current to the most recent month-end may be obtained by calling 1-877-771-EVEN (3836).

The returns shown do not reflect the deduction in taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes. Performance figures greater than 1 year are annualized.

Morningstar Ratings 2

Morningstar ratings are based on risk-adjusted returns. Morningstar rankings are based on total returns.

Overall
239 Funds in Category
3 Year
2
95% Percentile of 239 Funds

Market Risk 10

Market Risk 10

 
 		Standard Deviation11Beta12Alpha(%)13R-Squared(%)14
 
 		3-yrInception153-yrInception153-yrInception153-yrInception15
Eventide Exponential Technologies Fund, Class I25.5626.061.011.04-10.57-3.1383.1177.78
Bloomberg US 2500 Technology Total Return Index323.0022.181.001.00--100100

Portfolio 16

Top 10 Holdings

Holding Weight (33.37%)
Xometry Inc
AI-enabled marketplace for on-demand manufacturing
4.46%
Lattice Semiconductor Corp
Semiconductor devices
3.69%
Adyen NV
Enabling businesses to accept multiple forms of digital payments
3.54%
Toast Inc
Develops cloud software to equip restaurants to thrive
3.48%
Nutanix Inc
Cloud computing company that sells software for data centers and hybrid multi-cloud deployments
3.25%
Global-e Online Ltd
Develops end-to-end cross-border platforms for eBusiness
3.06%
Monday.com Ltd
Platform for streamlining team collaboration, project management, and productivity
3.04%
Frontdoor Inc
Leading home warranty provider protecting homeowners appliances
2.98%
ExlService Holdings Inc
Provides data analytics, operations management, and digital solutions for businesses
2.95%
Constellation Software Inc
Mission-critical software for small- and medium-sized businesses
2.92%

Portfolio Manager

Finny Kuruvilla, MD, PhD

Co-Chief Investment Officer, Senior Portfolio Manager, Managing Director, Founding Member

Finny Kuruvilla, MD, PhD, serves as Co-Chief Investment Officer and Senior Portfolio Manager for Eventide. He serves as the Lead Portfolio Manager for Eventide’s Strategic Growth, Healthcare & Life Sciences, and Technology Strategies. He also is a Managing Director for Eventide Ventures, as well as a Founding Member of Eventide.

Dr. Kuruvilla has a background in healthcare, statistics, and investing. Concurrent with his early years at Eventide, he was a Principal at Clarus Ventures, a healthcare and life sciences venture capital firm subsequently acquired by Blackstone. Earlier in his career, Dr. Kuruvilla was a postdoctoral research fellow at the Broad Institute of Harvard and MIT, where he led the development of a new microarray between the Broad Institute and a publicly-traded company Affymetrix. Prior to his investing career, Dr. Kuruvilla was resident, chief resident, and fellow at the Brigham and Women’s Hospital and Boston Children’s Hospital.

Dr. Kuruvilla holds an MD from Harvard Medical School, a PhD in Chemistry and Chemical Biology from Harvard University, a SM in Electrical Engineering and Computer Science from MIT, and a BS in Chemistry from Caltech.

Literature

Shareholder Reports 12/31/2023 – 12/31/2024

Impact the world for good

Mutual funds involve risk including the possible loss of principal. Past performance does not guarantee future results. The Fund’s ethical values screening criteria could cause it to under-perform similar funds that do not have such screening criteria. The Fund typically invests at least 80% of its net assets in companies that the Adviser believes are participating in and benefiting from technologies, innovations, technology themes, or technology trends which can include information technology, e-commerce discretionary, internet media and services, healthcare technology, healthcare devices, or transaction & payment processing services industries. The term “exponential” means the potential for accelerated advancements in underlying technologies that can positively impact capabilities and development cycles of a company's products and services. Not every company in the Fund's portfolio will experience exponential growth, and the Fund is not expected to deliver exponential returns. The Fund's ethical values screening criteria could cause it to under-perform similar funds that do not have such screening criteria. The Fund can invest in smaller-sized companies which may experience higher failure rates than larger companies and normally have a lower trading volume than larger companies. The Fund may experience higher volatility than the general market due to being concentrated in the technology industries. Companies in the technology industries have different risks including but not limited to products becoming obsolete, and entrance of competing products. Communications companies may underperform due to legislative or increased competition. Internet and Direct Marketing Retail companies may underperform due to legislative or increased government supervision. Healthcare Technology and Devices Companies may be heavily dependent on clinical trials with uncertain outcomes and decisions made by the governments and regulatory authorities. Further, these companies are dependent on patent protection. The Fund has non-diversification risk as a high percentage of Fund assets may be invested in a limited number of companies. The Fund can have risk related to option investing. There are special risks associated with investments in foreign companies including exposure to currency fluctuations, less efficient trading markets, political instability and differing auditing and legal standards. The Fund can invest in private companies. Private investments include various risks including but not limited to lack of liquidity, capital commitment risk, and valuation risk. Private companies may not be financially profitable and have uncertain futures, subjecting them to additional risks. The Fund has no history of operations prior to its inception date.

This information is for use with concurrent or prior delivery of a fund prospectus, which can be obtained at https://www.eventidefunds.com/prospectus or by calling 1-877-771-EVEN (3836). Investors should consider a fund's investment objectives, risks, charges and expenses carefully before investing or sending money. Eventide Mutual Funds are distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC, which is not affiliated with Eventide Asset Management, LLC.

  1. Returns are for Class I as of 12/31/2024 with an inception date of 06/30/2020. Performance is historical and does not guarantee future results. Investment return and principal value will fluctuate with changing market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the data quoted.
  2. Past performance is no guarantee of future results.

    The Morningstar Rating™ for funds, or ‘star rating’, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10- year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings are determined monthly and subject to change.

    % Rank in Category is the fund’s percentile rank for the specified time period relative to all funds that have the same Morningstar category. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100. The top-performing fund in a category will always receive a rank of 1. Percentile ranks within categories are most useful in those categories that have a large number of funds.

    © 2025 Morningstar. All Rights Reserved. Morningstar is an independent provider of financial information. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

  3. The Bloomberg US 2500 Technology Total Return Index is a float market-cap-weighted equity benchmark derived from membership of the Bloomberg US 2500 Index. Source: Bloomberg Index Services Limited. Bloomberg® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg's licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith. Investors cannot directly invest in an index, and unmanaged index returns do not reflect any fees, expenses, or sales charges. The volatility of an index may be materially different than that of the Fund, and investors should not expect the Fund to achieve the same results as a listed index.
  4. For the Fund's fiscal year ending 06/30/2024.

    Portfolio turnover is the percentage of the portfolio that was bought or sold (lesser) during a fiscal year. A higher portfolio turnover may indicate higher transaction costs for the Fund and may result in higher taxes for investors.

  5. The range shows the highest and lowest turnover ratio reported in the Annual Report during the last three fiscal years ending 06/30/2024.

    Portfolio turnover is the percentage of the portfolio that was bought or sold (lesser) during a fiscal year. A higher portfolio turnover may indicate higher transaction costs for the Fund and may result in higher taxes for investors.

  6. Other expenses that apply to a continued investment in the Fund are described in the Fund's prospectus.
  7. Refer to the Fund's SAI for definition of Other Expenses.
  8. The adviser has contractually agreed to waive fees and/or reimburse expenses of the Fund through 10/31/2025. The agreement may be terminated by the Fund's Board of Trustees only on 60 days' written notice.
  9. Effective 06/01/2022, Class I shares purchased directly from the Funds are not subject to the minimum initial or subsequent investment requirements.
  10. Source: © Morningstar, Inc. (2025). All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The performance and risk factor comparisons are against the Bloomberg US 2500 Technology Total Return Index. The Bloomberg US 2500 Technology Total Return Index is a float market-cap-weighted equity benchmark derived from membership of the Bloomberg US 2500 Index.
  11. Standard Deviation of return measures the amount of variation in historical performance from period to period.
  12. Beta is a measure of the volatility of a fund relative to the Index. A beta greater than 1 is more volatile than the Index.
  13. Alpha is a measure of performance on a risk-adjusted basis. It takes the volatility (price risk) of a fund and compares its risk-adjusted performance to the Index. Any excess return of a fund relative to the return of the Index is a fund’s alpha.
  14. R-Squared is a measure of how a fund’s performance correlates with the Index’s performance and it can help assess how likely it is that beta is statistically significant.
  15. Annualized since inception figures use an inception date of 07/01/2020 and not the actual inception date of 06/30/2020 as only full month data is used in Market Risk calculations.
  16. Allocation percentages and holdings are subject to change at any time, are subject to risks discussed in the Funds prospectus, and should not be considered investment advice.
    Assets labeled Cash/Other may include cash, cash equivalents, money market funds, impact bonds, and options. Impact bonds, if invested, fund business models that strive to have significant social or environmental effects.
    Due to rounding, numbers may not add up to 100.
    Top Holdings are based on percentage of net assets and do not include cash/money market funds/equivalents.
    Portfolio Composition Source: © Morningstar, Inc. (2025). All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
  17. This chart is for illustrative purposes and assumes that a $10,000 investment was made on the Fund’s inception date of 06/30/2020 and that all dividends and capital gains were reinvested. Hypothetical performance often shows markedly better results than actual management and should not be the basis for an investment decision. A variety of factors could impact investment decision making or otherwise cause differences between the hypothetical performance and actual investor returns. Compares the Eventide Exponential Technologies Fund Class I’s performance to index performance over the periods shown. Performance will differ for other fund classes, based upon fees and commissions.
    The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes.
    Performance is historical and does not guarantee future results. Investment return and principal value will fluctuate with changing market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the data quoted. Performance data current to the most recent month-end may be obtained by calling 1-877-771-EVEN (3836).


Eventide 1561-2179 - 04/01/2025 09:30am