Destra Multi-Alternative Fund (DMA): fair value, margin of safety and Wheel Score

Is DMA undervalued?

At 7.13 (close of 5 Nov 2026), DMA trades 64% below the GLS average fair value of 19.61. That average comes from 1 models run on the latest filings, and 1 of them land above the current price. Margins of safety over 30% are the exception rather than the rule across the ~7,400 stocks we value each night, so the number earns Destra Multi-Alternative Fund the full Value points in the Wheel Score - and a closer look at what the market is pricing in.

Only 1 of the nine models produced a value (DDM); the others need a dividend, positive free cash flow or positive book value the company does not have yet, so the average rests on a narrow base.

DMA looks like a fund, note or preferred share rather than an operating company, so the nightly engine files it under Fund / Note: the valuation models are not built for it, and its Wheel Score is capped at 45.

Nine valuation models for DMA

Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.

Quality and financial health

No Piotroski health score is on file for DMA (the statements it needs were not available), so the Health part of the Wheel Score counts it at half marks - 10 of 20 - rather than marking the stock down for missing data. There is no GLS Moat score for DMA: funds, notes and second share lines get none, and so does a company with fewer than two years of accounts on file. The Moat part of the Wheel Score is zero.

Returns on capital are thin or negative - ROIC -1.7%, ROE -1.9%, ROA -1.7% - with debt at 0.13 times equity and negative free cash flow.

The dividend yield is high at 18.69% (payout ratio -664%). A yield this size is often the market's way of pricing a risk to the payout, so the health score and cash flow matter more than usual.

Institutional ownership scores 8/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales.

Wheel Score 26: No options

DMA has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business. It fails the first Wheel Trade Filter (options that actually trade), so the score stays under 70 and is shown as "No options" (26 here). The valuation and quality numbers still apply to owning the shares outright.

Volume runs at 26k shares a day on a market cap of $64M, with a beta of 0.39 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.

The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.

Upcoming events

No upcoming earnings date is recorded for DMA in the nightly calendar. The shares go ex-dividend on 18 Nov 2026 (0.1150 per share), so a covered call sold before then carries a small early-assignment risk around that date.

Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.

Similar stocks in Asset Management

The 12 companies below are the closest to Destra Multi-Alternative Fund by market cap within the Asset Management industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.

⚖ Compare DMA with 7 of them   All Financial Services stocks →