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Trending ETFs

Name

As of 04/21/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$6.86

$46.3 M

0.00%

1.88%

Vitals

YTD Return

-1.9%

1 yr return

-29.8%

3 Yr Avg Return

-7.8%

5 Yr Avg Return

-6.8%

Net Assets

$46.3 M

Holdings in Top 10

N/A

52 WEEK LOW AND HIGH

$6.9
$6.80
$9.73

Expenses

OPERATING FEES

Expense Ratio 1.88%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 0.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 04/21/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$6.86

$46.3 M

0.00%

1.88%

RQSGX - Profile

Distributions

  • YTD Total Return -1.9%
  • 3 Yr Annualized Total Return -7.8%
  • 5 Yr Annualized Total Return -6.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -1.97%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    RQSI GAA Systematic Global Macro Fund
  • Fund Family Name
    RQSI
  • Inception Date
    Mar 08, 2018
  • Shares Outstanding
    4498490
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Neil Ramsey

Fund Description

The Fund allocates its assets among four macro or broad asset classes (equities, fixed income, commodities and currencies) by taking long and/or short positions in futures contracts based on instruments in each asset class.

The Fund may seek to gain exposure to the commodity markets, in whole or in part, through investments in a wholly owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”). The Subsidiary, unlike the Fund, may invest to a significant extent in commodity futures contracts. The Subsidiary may also invest in other instruments in which the Fund is permitted to invest, either as investments or to serve as margin or collateral for its derivative positions. The Fund may invest up to 25% of its total assets in the Subsidiary. The Subsidiary is advised by RQSI.

A futures contract is an agreement between two parties whereby one party agrees to sell and the other party agrees to buy a specified amount of an underlying instrument at an agreed upon price and time. Agreeing to buy the underlying instrument is called buying a futures contract or taking a long position in the contract. Likewise, agreeing to sell the underlying instrument is called selling a futures contract or taking a short position in the contract. As the owner of a long position in a futures contract, the Fund will benefit from an increase in the price of the underlying instrument, and, as the owner of a short position, the Fund will benefit from a decrease in the price of the underlying instrument.

Through its investments in futures contracts (both directly and indirectly through the Subsidiary), the Fund will principally have exposure to (i) large-cap equity markets, (ii) investment-grade government securities of any maturity, (iii) interest rates, (iv) commodities and (v) currencies.

Under normal conditions, the Fund will have exposure to the equity markets, government securities, interest rates or currencies of at least three countries, including the United States, and will have exposure to non-U.S. equity markets, government securities, interest rates and currencies (measured on a gross basis) equal to at least 40% (or, if conditions are not favorable, at least 30%) of its total assets. From time to time, the Fund may focus its investments in a particular geographic region, such as Europe or Asia. In addition, the Fund will have exposure to commodities including in the energy sector, metals sector, grains sector and meats and softs sector (i.e.,

agricultural commodities that are not included in the grains sector). All of the commodity positions are held in futures contracts that are denominated in US Dollars.

The Fund purchases and sells futures contracts based on trading and sizing signals generated by a proprietary systematic global asset allocation (“GAA”) investment model designed by the Adviser that combines various quantitative investment strategies (e.g. econometric, technical and relative value) to seek to generate returns across asset classes and investment timeframes.

The Fund’s use of futures contracts will have the economic effect of financial leverage. Financial leverage magnifies the exposure to the swings in prices of an instrument underlying a futures contract and results in increased volatility, which means that the Fund will have the potential for greater gains, as well as the potential for greater losses, than if the Fund did not use futures contracts. Leveraging tends to magnify, sometimes significantly, the effect of any increase or decrease in the Fund’s exposure to an instrument and may cause the Fund’s net asset value (“NAV”) to be volatile. A decline in the Fund’s assets due to losses magnified by futures contracts may require the Fund to liquidate portfolio positions to satisfy its obligations, to meet redemption requests or to meet asset coverage requirements under the Investment Company Act of 1940, as amended (the “1940 Act”), when it may not be advantageous to do so.

In order to meet the 1940 Act asset coverage requirements with respect to the use of futures contracts, and earn income, the Fund may hold significant amounts of cash and cash equivalents.

When taking into account instruments with a maturity of one year or less at the time of acquisition, the Fund’s strategy will result in frequent portfolio trading and high portfolio turnover.

The Fund is classified as “non-diversified,” which means that it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.

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RQSGX - Performance

Return Ranking - Trailing

Period RQSGX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.9% -23.7% 16.4% 0.86%
1 Yr -29.8% -8.9% 48.3% 17.17%
3 Yr -7.8%* -2.2% 16.4% 90.65%
5 Yr -6.8%* -0.7% 13.4% N/A
10 Yr N/A* 0.9% 11.8% N/A

* Annualized

Return Ranking - Calendar

Period RQSGX Return Category Return Low Category Return High Rank in Category (%)
2023 -18.2% -40.8% 20.6% 97.78%
2022 -5.9% -21.0% 24.5% 84.28%
2021 -1.2% -24.2% 27.8% 95.33%
2020 0.8% -23.1% 11.7% N/A
2019 N/A -100.0% 20.6% N/A

Total Return Ranking - Trailing

Period RQSGX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.9% -23.7% 16.4% 0.86%
1 Yr -29.8% -12.8% 48.3% 17.16%
3 Yr -7.8%* -3.4% 16.4% 88.43%
5 Yr -6.8%* -1.1% 13.4% N/A
10 Yr N/A* 0.9% 11.8% N/A

* Annualized

Total Return Ranking - Calendar

Period RQSGX Return Category Return Low Category Return High Rank in Category (%)
2023 -18.2% -40.8% 20.6% 97.78%
2022 -5.9% -21.0% 24.5% 84.28%
2021 -1.2% -24.2% 27.8% 95.33%
2020 0.8% -23.1% 11.7% N/A
2019 N/A -2.9% 23.1% N/A

NAV & Total Return History


RQSGX - Holdings

Concentration Analysis

RQSGX Category Low Category High RQSGX % Rank
Net Assets 46.3 M 1.12 M 110 B 88.12%
Number of Holdings 39 2 10961 76.41%
Net Assets in Top 10 -14.4 M -31.7 M 22 B 98.75%
Weighting of Top 10 N/A 10.8% 100.0% 28.57%

Top 10 Holdings

  1. 10 Year Treasury Note Future Mar 22 166.43%
  2. 10 Year Treasury Note Future Mar 22 166.43%
  3. 10 Year Treasury Note Future Mar 22 166.43%
  4. 10 Year Treasury Note Future Mar 22 166.43%
  5. 10 Year Treasury Note Future Mar 22 166.43%
  6. 10 Year Treasury Note Future Mar 22 166.43%
  7. 10 Year Treasury Note Future Mar 22 166.43%
  8. 10 Year Treasury Note Future Mar 22 166.43%
  9. 10 Year Treasury Note Future Mar 22 166.43%
  10. 10 Year Treasury Note Future Mar 22 166.43%

Asset Allocation

Weighting Return Low Return High RQSGX % Rank
Cash
185.58% -97.12% 185.58% 0.21%
Convertible Bonds
0.00% 0.00% 25.49% 81.21%
Preferred Stocks
-0.03% -0.03% 14.00% 99.79%
Other
-0.06% -1.25% 197.12% 99.16%
Bonds
-39.76% -39.76% 93.84% 99.79%
Stocks
-45.72% -45.72% 98.42% 99.79%

Stock Sector Breakdown

Weighting Return Low Return High RQSGX % Rank
Financial Services
21.09% 0.00% 30.34% 8.49%
Technology
16.35% 0.00% 39.48% 50.32%
Basic Materials
13.44% 0.00% 60.23% 8.70%
Consumer Cyclical
11.06% 0.00% 20.84% 35.24%
Communication Services
8.23% 0.00% 28.59% 23.99%
Healthcare
7.36% 0.00% 30.30% 74.31%
Industrials
6.71% 0.09% 32.39% 85.99%
Consumer Defense
4.44% 0.00% 31.85% 73.04%
Utilities
3.85% 0.00% 40.29% 40.13%
Real Estate
3.82% 0.00% 90.14% 50.32%
Energy
3.64% 0.00% 38.61% 76.22%

Stock Geographic Breakdown

Weighting Return Low Return High RQSGX % Rank
US
0.97% -4.82% 95.75% 97.08%
Non US
-46.69% -46.69% 57.06% 99.79%

RQSGX - Expenses

Operational Fees

RQSGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.88% 0.16% 2.71% 13.15%
Management Fee 1.20% 0.00% 1.70% 98.29%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.70% N/A

Sales Fees

RQSGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

RQSGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

RQSGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 0.00% 0.00% 441.00% 0.24%

RQSGX - Distributions

Dividend Yield Analysis

RQSGX Category Low Category High RQSGX % Rank
Dividend Yield 0.00% 0.00% 10.92% 41.58%

Dividend Distribution Analysis

RQSGX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Monthly Monthly

Net Income Ratio Analysis

RQSGX Category Low Category High RQSGX % Rank
Net Income Ratio -1.97% -5.20% 6.33% 99.56%

Capital Gain Distribution Analysis

RQSGX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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RQSGX - Fund Manager Analysis

Managers

Neil Ramsey


Start Date

Tenure

Tenure Rank

Mar 08, 2018

4.23

4.2%

Mr. Neil Ramsey is the Founder and serves as Chief Investment Officer and Chief Executive Officer at Ramsey Quantitative Systems. He is responsible for all investment activities for RQSI including development and approval of all trading strategies and portfolio/risk management and for providing overall strategic direction for RQSI. Mr. Ramsey is also responsible for managing all external investments for the firm with outside trading managers and has been allocating to external managers for over 25 years. Prior to forming RQSI, Mr. Ramsey was a consultant at the Boston Consulting Group, where he worked with both domestic and foreign multi-national corporations in strategy development. Mr. Ramsey holds an M.B.A. from Vanderbilt University and a B.E., summa cum laude, in Engineering from Vanderbilt University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 30.27 6.52 9.25