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Trending ETFs

Name

As of 03/27/2024

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

$13.90

$183 M

2.77%

$0.38

0.80%

Vitals

YTD Return

0.5%

1 yr return

2.8%

3 Yr Avg Return

0.6%

5 Yr Avg Return

3.8%

Net Assets

$183 M

Holdings in Top 10

66.6%

52 WEEK LOW AND HIGH

$13.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.80%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 38.00%

Redemption Fee 1.50%


Min Investment

Standard (Taxable)

$1,000

IRA

$500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$13.90

$183 M

2.77%

$0.38

0.80%

HSTRX - Profile

Distributions

  • YTD Total Return 0.5%
  • 3 Yr Annualized Total Return 0.6%
  • 5 Yr Annualized Total Return 3.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.93%
DIVIDENDS
  • Dividend Yield 2.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Hussman Strategic Total Return Fund
  • Fund Family Name
    Hussman Funds
  • Inception Date
    Sep 19, 2002
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Hussman

Fund Description

The Fund pursues its investment objective by investing its assets primarily in fixed-income securities, such as U.S. Treasury bonds, notes and bills, Treasury inflation-protected securities, U.S. Treasury Strips, U.S. Government agency securities, and investment grade corporate debt rated BBB or higher by Standard & Poor’s Global Ratings or Baa or higher by Moody’s Investors Service, Inc., or having an equivalent rating from another independent rating organization. The Fund varies its allocations to these asset classes based on prevailing valuations and estimated expected returns in these markets as determined by Hussman Strategic Advisors, Inc., the Fund’s investment adviser. The Fund may invest up to 30% of its net assets in securities outside of the U.S. fixed-income market, such as utility and other energy-related stocks, precious metals and mining stocks, shares of real estate investment trusts (“REITs”), shares of exchange traded funds (“ETFs”) and other similar instruments, and foreign government debt securities. In addition, the Fund may use foreign currency options and futures and currency ETFs to establish or modify the portfolio’s exposure to currencies other than the U.S. dollar. The Fund may make limited use of Treasury debt options and futures to manage the Fund’s exposure to interest rate risk.

The Fund’s principal investment strategies emphasize strategic management of the average interest rate sensitivity (“duration”) of portfolio holdings, the Fund’s exposure to changes in the yield curve, and allocation among fixed-income alternatives and inflation hedges. The interest rate sensitivity (duration) of a bond is related to the average date at which an investor receives payment of principal and interest. Under normal market conditions, the duration of the Fund’s portfolio is expected to range between 1 year and 15 years. In its most aggressive stance (a duration of 15 years), the Fund’s net asset value could be expected to fluctuate by approximately 15% in response to a 1% (100 basis point) change in the general level of interest rates.

The investment adviser believes that return/risk characteristics in the fixed-income market differ significantly across varying market conditions. The two most important dimensions considered by the investment adviser are “valuation” and “market action.” In the fixed-income market, favorable valuation means that yields on long-term bonds appear reasonable in relation to inflation, short-term interest rates, economic growth, and yields available on competing assets, such as utility stocks and foreign bonds. Market action considers the behavior of a wide range of yields and prices, in an attempt to assess the economic outlook of investors and their willingness to accept market risk. In addition, the investment adviser evaluates economic conditions, investor sentiment, interest rates, credit-sensitive indicators and other factors in an attempt to classify prevailing market conditions with historically similar instances.

Historically, different combinations of valuation, market action and other factors have been accompanied by significantly different bond market performance in terms of return/risk. The specific profile of yield behavior (such as changes in the yield curve or credit spreads) is also an important factor. The investment adviser believes that foreign government debt and precious metals stocks are favored when “real” U.S. interest rates (nominal interest rates minus inflation) are declining relative to “real” foreign interest rates.

The investment adviser generally will increase the exposure of the Fund to interest rate risk in environments where the return expected to be derived from that risk is high, and generally will reduce exposure to interest rate risk when the return expected to be derived from that risk is unfavorable. The investment adviser will also purchase utility and other energy-related stocks, precious metals stocks, shares of REITs, and foreign government debt when market conditions are believed to favor such diversification. There are no restrictions as to the market capitalizations of companies in which the Fund invests. However, the Fund invests primarily in stocks that are listed or trade on the New York Stock Exchange, the American Stock Exchange or the NASDAQ Stock Market. The Fund generally invests in stocks of companies with market capitalizations in excess of $500 million, although it may invest a portion of its assets in the stocks of companies having smaller market capitalizations, which involves certain risks.

Specific strategies for increasing interest rate exposure include the purchase of long-term bonds, Treasury zero-coupon bonds and Treasury interest strips, which exhibit magnified price movements in response to interest rate changes. The Fund will not invest more than 30% of its net assets in Treasury zero-coupon bonds and Treasury interest strips.

The Fund does not use derivatives for speculative purposes, but rather uses derivatives either to obtain investment exposures consistent with its investment objective and policies, or to hedge its investment exposures. Specific strategies for reducing or “hedging” the Fund’s interest rate exposure include the purchase of short-term notes and bills, which exhibit limited price movements in response to interest rate changes. The Fund may also purchase put options and write call options on Treasury futures to hedge the interest rate risk of long-term bonds in its portfolio. In addition, the Fund may seek to hedge its exposure in a given investment sector by effecting short sales of ETFs, or by purchasing put options on indices or ETFs considered by the investment adviser to be correlated with securities held by the Fund. The total notional value of the Fund’s hedge positions in fixed-income securities (the dollar value of Treasury securities represented by put and call options held by the Fund) is not expected to exceed the total value of fixed-income securities held by the Fund having remaining maturities of 5 years or more. The total notional value of the Fund’s hedge positions in equities is not expected to exceed the total value of equities held by the Fund. So the most defensive position expected by the Fund will be a “fully hedged” position in which the entire value of equities and intermediate and long-term fixed-income securities held by the Fund is protected. However, the Fund may experience a loss even when the entire value of its portfolio is hedged if the securities held by the Fund do not exceed the returns of the securities and financial instruments used to hedge.

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HSTRX - Performance

Return Ranking - Trailing

Period HSTRX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -0.9% 17.8% 93.83%
1 Yr 2.8% -2.2% 75.0% 97.79%
3 Yr 0.6%* -22.7% 10.8% 70.22%
5 Yr 3.8%* -11.4% 20.9% 72.73%
10 Yr 3.3%* -4.6% 9.9% 69.57%

* Annualized

Return Ranking - Calendar

Period HSTRX Return Category Return Low Category Return High Rank in Category (%)
2023 3.3% -18.9% 60.2% 75.77%
2022 -8.2% -48.5% 0.1% 4.85%
2021 -0.1% -19.0% 48.3% 68.14%
2020 10.9% -16.5% 52.8% 20.47%
2019 10.0% -8.5% 27.3% 51.90%

Total Return Ranking - Trailing

Period HSTRX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.5% -0.9% 17.8% 93.83%
1 Yr 2.8% -2.2% 75.0% 97.79%
3 Yr 0.6%* -22.7% 10.8% 70.22%
5 Yr 3.8%* -11.4% 20.9% 72.73%
10 Yr 3.3%* -4.6% 9.9% 69.57%

* Annualized

Total Return Ranking - Calendar

Period HSTRX Return Category Return Low Category Return High Rank in Category (%)
2023 6.5% -11.7% 61.8% 69.60%
2022 -5.9% -48.5% 4.6% 7.05%
2021 1.3% -14.2% 48.3% 88.94%
2020 11.8% -11.7% 77.4% 25.58%
2019 11.8% -3.9% 30.2% 68.10%

NAV & Total Return History


HSTRX - Holdings

Concentration Analysis

HSTRX Category Low Category High HSTRX % Rank
Net Assets 183 M 1.67 M 13.2 B 49.78%
Number of Holdings 56 2 1954 47.60%
Net Assets in Top 10 134 M 1.26 M 10.4 B 45.41%
Weighting of Top 10 66.61% 0.4% 149.2% 58.08%

Top 10 Holdings

  1. U.S. Treasury Inflation-Protected Notes 0.125%, Due 04/15/2027 10.19%
  2. U.S. Treasury Bill 0.000%, Due 03/14/2024 9.84%
  3. U.S. Treasury Inflation-Protected Notes 2.50%, Due 01/15/2029 7.38%
  4. U.S. Treasury Notes 1.375%, due 01/31/2025 7.19%
  5. US Treasury Inflation-Protected Notes 0.500%, DUE 04/15/2024 5.99%
  6. US Treasury Inflation-Protected Note 0.125%, Due 04/15/2026 5.55%
  7. U.S. Treasury Notes 0.125%, Due 1/15/2030 5.40%
  8. U.S. Treasury Inflation-Protected Notes 0.125%, due 01/15/2031 5.26%
  9. U.S. Treasury Bill 0.000%, Due 03/21/2024 4.91%
  10. U.S. Treasury Notes 2.25%, due 02/29/2020 4.90%

Asset Allocation

Weighting Return Low Return High HSTRX % Rank
Bonds
80.69% 0.00% 106.59% 4.37%
Stocks
17.40% 0.00% 137.56% 86.46%
Cash
2.12% -33.22% 99.05% 65.50%
Other
0.04% -29.71% 128.17% 31.88%
Preferred Stocks
0.00% 0.00% 5.36% 85.15%
Convertible Bonds
0.00% 0.00% 8.92% 91.70%

Stock Sector Breakdown

Weighting Return Low Return High HSTRX % Rank
Basic Materials
56.73% 0.00% 56.73% 0.51%
Energy
30.30% 0.00% 60.89% 7.69%
Utilities
7.35% 0.00% 91.12% 15.38%
Real Estate
4.07% 0.00% 99.45% 41.54%
Industrials
1.55% 0.00% 23.85% 87.18%
Technology
0.00% 0.00% 85.77% 97.44%
Healthcare
0.00% 0.00% 38.63% 99.49%
Financial Services
0.00% 0.00% 98.22% 97.95%
Communication Services
0.00% 0.00% 21.61% 96.92%
Consumer Defense
0.00% 0.00% 37.51% 98.97%
Consumer Cyclical
0.00% 0.00% 25.83% 99.49%

Stock Geographic Breakdown

Weighting Return Low Return High HSTRX % Rank
US
17.40% 0.00% 137.56% 83.84%
Non US
0.00% -1.94% 41.50% 84.72%

Bond Sector Breakdown

Weighting Return Low Return High HSTRX % Rank
Government
87.74% 0.00% 99.78% 5.68%
Cash & Equivalents
2.12% 0.00% 93.38% 51.09%
Derivative
0.04% -15.09% 128.17% 29.26%
Securitized
0.00% 0.00% 52.99% 91.70%
Corporate
0.00% 0.00% 98.28% 94.76%
Municipal
0.00% 0.00% 19.13% 91.70%

Bond Geographic Breakdown

Weighting Return Low Return High HSTRX % Rank
US
80.69% 0.00% 92.67% 0.87%
Non US
0.00% 0.00% 27.25% 86.46%

HSTRX - Expenses

Operational Fees

HSTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.80% 0.49% 5.81% 93.01%
Management Fee 0.50% 0.00% 1.50% 18.78%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.05% 0.70% 32.20%

Sales Fees

HSTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

HSTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.50% 0.50% 2.00% 51.61%

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.

HSTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 38.00% 1.75% 441.00% 19.89%

HSTRX - Distributions

Dividend Yield Analysis

HSTRX Category Low Category High HSTRX % Rank
Dividend Yield 2.77% 0.00% 24.73% 23.58%

Dividend Distribution Analysis

HSTRX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Annual

Net Income Ratio Analysis

HSTRX Category Low Category High HSTRX % Rank
Net Income Ratio 0.93% -2.01% 13.72% 37.12%

Capital Gain Distribution Analysis

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

Distributions History

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HSTRX - Fund Manager Analysis

Managers

John Hussman


Start Date

Tenure

Tenure Rank

Sep 12, 2002

19.73

19.7%

John P. Hussman, Ph.D. is the President of Hussman Strategic Advisors, Inc. From 1992 until 1999, he was an Adjunct Assistant Professor of Economics and International Finance at the University of Michigan and the Michigan Business School. His academic research has focused on financial market efficiency and information economics. He also holds a B.A. in Economics, Phi Beta Kappa, and an M.S. in Education and Social Policy from Northwestern University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.83 6.59 13.0