Shareholder Report | 12 Months Ended |
Oct. 31, 2024 USD ($) Holding |
Shareholder Report [Line Items] | |
Document Type | N-CSR |
Amendment Flag | false |
Registrant Name | AXONIC FUNDS |
Entity Central Index Key | 0001791032 |
Entity Investment Company Type | N-1A |
Document Period End Date | Oct. 31, 2024 |
C000216959 | |
Shareholder Report [Line Items] | |
Fund Name | Axonic Strategic Income Fund |
Class Name | Class A |
No Trading Symbol [Flag] | true |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about Axonic Strategic Income Fund - A for the period of November 1, 2023 to October 31, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.axonicfunds.com/funds/daily-fund-axsax/. You can also request this information by contacting us at 833-429-6642. |
Additional Information Phone Number | 833-429-6642 |
Additional Information Website | https://www.axonicfunds.com/funds/daily-fund-axsax/ |
Expenses [Text Block] | What were the Fund’s cost for the last year? (based on a hypothetical $10,000 investment) Class Name Cost of a $10,000 Investment Cost Paid as a percentage of a $10,000 Investment Axonic Strategic Income Fund - A $145.27 1.42% |
Expenses Paid, Amount | $ 0.0142 |
Expense Ratio, Percent | 14,527% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year? The Axonic Strategic Income Fund had another year of strong performance. The Fund returned 10.93% for the 12 month period ending on October 31, 2024, outperforming the Bloomberg US Aggregate Bond Index which returned 10.55% over the same time period. The Fund’s outperformance of the benchmark was a function of low duration and a high level of income which insulated returns from periodic interest rate volatility throughout the year. Performance was driven by credit spread tightening and consistent income generated by the Fund’s holdings across the structured credit universe. The Fund was profitable across the three core areas of focus: Residential Mortgage Backed Securities (RMBS), Commercial Mortgage Backed Securities (CMBS), and Asset Backed Securities (ABS). Although credit spreads tightened throughout the year, structured credit markets continue to offer attractive yields going forward as spreads remain wide of similarly rated corporate credit investments on a historical basis. |
Line Graph [Table Text Block] | Axonic Strategic Income Fund - Class A - Load - $11,911 Bloomberg US Aggregate Bond Index - $9,249 7/16/2020 $9,774.82 $10,000.00 10/31/2020 $9,987.45 $9,935.03 10/31/2021 $10,771.83 $9,887.53 10/31/2022 $10,202.17 $8,336.91 10/31/2023 $10,737.50 $8,366.60 10/31/2024 $11,910.71 $9,248.97 |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS Class A 1 Year Since Inception Class A - NAV (Incep. July 16, 2020) 10.93% 4.71% Class A - Load 8.43% 4.16% Bloomberg US Aggregate Bond Index 10.55% - The Fund’s past performance is not a good predictor of the Fund’s future performance. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on fund distributions or the redemption of fund shares. Call 1-833-429-6642 for current month-end performance. |
Performance Inception Date | Jul. 16, 2020 |
AssetsNet | $ 2,956,778,428 |
Holdings Count | Holding | 414 |
Advisory Fees Paid, Amount | $ 20,382,847 |
InvestmentCompanyPortfolioTurnover | 72% |
Additional Fund Statistics [Text Block] | FUND STATISTICS Total Net Assets $2,956,778,428 # of Portfolio Holdings 414 Portfolio Turnover Rate (Class A) 72% Advisory Fees Paid $20,382,847 |
Holdings [Text Block] | ASSET CLASS WEIGHTINGS (as a % of Net Assets) Value Value Commercial Mortgage-Backed Securities 29.45% Residential Mortgage-Backed Securities 28.98% Asset-Backed Securities 21.10% Government Bond 11.45% Short Term Investments 6.01% Convertible Corporate Bonds 0.94% Bank Loans 0.92% Preferred Stocks 0.59% Corporate Bonds 0.30% Common Stocks 0.01% Cash, Cash Equivalents, & Other Net Assets 0.25% |
Largest Holdings [Text Block] | TOP TEN HOLDINGS (as a % of Net Assets) Top 10 Top 10 U.S. Treasury Bond 3.88%, due 08/15/2034 11.45% LHOME Mortgage Trust, Series 2023-RTL1, Class A1 1.36% Extended Stay America Trust, Series 2021-ESH, Class F 1.08% Saluda Grade Alternative Mortgage Trust, Series 2024-RTL5, Class A1 1.05% LHOME Mortgage Trust, Series 2022-RTL3, Class A1 1.02% BXSC Commercial Mortgage Trust, Series 2022-WSS, Class E 1.01% MFA , Series 2023-RTL2, Class A1 0.95% Dominion Mortgage Trust, Series 2021-RTL1, Class A1 0.95% Pagaya AI Debt Trust, Series 2024-3, Class C 0.95% Saluda Grade Alternative Mortgage Trust, Series 2024-RTL4, Class A1 0.84% Top Ten Holdings 20.66% |
Material Fund Change [Text Block] | Material Fund Changes There have been no material fund Changes during the reporting period. |
C000216960 | |
Shareholder Report [Line Items] | |
Fund Name | Axonic Strategic Income Fund |
Class Name | Class I |
No Trading Symbol [Flag] | true |
Annual or Semi-Annual Statement [Text Block] | This annual shareholder report contains important information about Axonic Strategic Income Fund - I for the period of November 1, 2023 to October 31, 2024. |
Shareholder Report Annual or Semi-Annual | annual shareholder report |
Additional Information [Text Block] | You can find additional information about the Fund at https://www.axonicfunds.com/funds/daily-fund/. You can also request this information by contacting us at 833-429-6642. |
Additional Information Phone Number | 833-429-6642 |
Additional Information Website | https://www.axonicfunds.com/funds/daily-fund/ |
Expenses [Text Block] | What were the Fund’s cost for the last year? (based on a hypothetical $10,000 investment) Class Name Cost of a $10,000 Investment Cost Paid as a percentage of a $10,000 Investment Axonic Strategic Income Fund - I $105.48 1.03% |
Expenses Paid, Amount | $ 0.0103 |
Expense Ratio, Percent | 10,548% |
Factors Affecting Performance [Text Block] | How did the Fund perform last year? The Axonic Strategic Income Fund had another year of strong performance. The Fund returned 11.31% for the 12 month period ending on October 31, 2024, outperforming the Bloomberg US Aggregate Bond Index which returned 10.55% over the same time period. The Fund’s outperformance of the benchmark was a function of low duration and a high level of income which insulated returns from periodic interest rate volatility throughout the year. Performance was driven by credit spread tightening and consistent income generated by the Fund’s holdings across the structured credit universe. The Fund was profitable across the three core areas of focus: Residential Mortgage Backed Securities (RMBS), Commercial Mortgage Backed Securities (CMBS), and Asset Backed Securities (ABS). Although credit spreads tightened throughout the year, structured credit markets continue to offer attractive yields going forward as spreads remain wide of similarly rated corporate credit investments on a historical basis. |
Line Graph [Table Text Block] | Axonic Strategic Income Fund - Class I - $11,882 Bloomberg US Aggregate Bond Index - $9,889 12/30/2019 $10,000.00 $10,000.00 10/31/2020 $9,789.82 $10,622.96 10/31/2021 $10,600.21 $10,572.17 10/31/2022 $10,087.63 $8,914.18 10/31/2023 $10,674.93 $8,945.93 10/31/2024 $11,882.03 $9,889.39 |
Average Annual Return [Table Text Block] | AVERAGE ANNUAL TOTAL RETURNS Class I 1 Year Since Inception Class I (Incep. December 30, 2019) 11.31% 3.63% Bloomberg US Aggregate Bond Index 10.55% - The Fund’s past performance is not a good predictor of the Fund’s future performance. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on fund distributions or the redemption of fund shares. Call 1-833-429-6642 for current month-end performance. |
Performance Inception Date | Dec. 30, 2019 |
AssetsNet | $ 2,956,778,428 |
Holdings Count | Holding | 414 |
Advisory Fees Paid, Amount | $ 20,382,847 |
InvestmentCompanyPortfolioTurnover | 72% |
Additional Fund Statistics [Text Block] | FUND STATISTICS Total Net Assets $2,956,778,428 # of Portfolio Holdings 414 Portfolio Turnover Rate (Class I) 72% Advisory Fees Paid $20,382,847 |
Holdings [Text Block] | ASSET CLASS WEIGHTINGS (as a % of Net Assets) Value Value Commercial Mortgage-Backed Securities 29.45% Residential Mortgage-Backed Securities 28.98% Asset-Backed Securities 21.10% Government Bond 11.45% Short Term Investments 6.01% Convertible Corporate Bonds 0.94% Bank Loans 0.92% Preferred Stocks 0.59% Corporate Bonds 0.30% Common Stocks 0.01% Cash, Cash Equivalents, & Other Net Assets 0.25% |
Largest Holdings [Text Block] | TOP TEN HOLDINGS (as a % of Net Assets) Top 10 Top 10 U.S. Treasury Bond 3.88%, due 08/15/2034 11.45% LHOME Mortgage Trust, Series 2023-RTL1, Class A1 1.36% Extended Stay America Trust, Series 2021-ESH, Class F 1.08% Saluda Grade Alternative Mortgage Trust, Series 2024-RTL5, Class A1 1.05% LHOME Mortgage Trust, Series 2022-RTL3, Class A1 1.02% BXSC Commercial Mortgage Trust, Series 2022-WSS, Class E 1.01% MFA , Series 2023-RTL2, Class A1 0.95% Dominion Mortgage Trust, Series 2021-RTL1, Class A1 0.95% Pagaya AI Debt Trust, Series 2024-3, Class C 0.95% Saluda Grade Alternative Mortgage Trust, Series 2024-RTL4, Class A1 0.84% Top Ten Holdings 20.66% |
Material Fund Change [Text Block] | Material Fund Changes There have been no material fund Changes during the reporting period. |