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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

$11.06

$48.1 M

0.00%

$0.00

1.58%

Vitals

YTD Return

7.3%

1 yr return

22.8%

3 Yr Avg Return

5.9%

5 Yr Avg Return

6.4%

Net Assets

$48.1 M

Holdings in Top 10

75.7%

52 WEEK LOW AND HIGH

$11.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.58%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 0.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000

IRA

N/A


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

$11.06

$48.1 M

0.00%

$0.00

1.58%

IPSAX - Profile

Distributions

  • YTD Total Return 7.3%
  • 3 Yr Annualized Total Return 5.9%
  • 5 Yr Annualized Total Return 6.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.56%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    IPS Strategic Capital Absolute Return Fund
  • Fund Family Name
    WP Trust
  • Inception Date
    Apr 15, 2016
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Dominick Paoloni

Fund Description

Principal Investment Strategy of the Fund.  Under normal circumstances, the Fund’s primary strategy consists of selling and purchasing put and call options on equity indexes and exchange-traded funds (“ETFs”). The sale of put options generates income for the Fund but exposes it to the risk of declines in the value of the underlying assets. The risk in purchasing options is limited to the premium paid by the Fund for the options. The sale of call options generates income for the Fund but may limit the Fund's participation in equity market gains. The Fund’s investment adviser seeks to reduce the overall volatility of returns by managing a portfolio of options.

A put option gives the purchaser of the option, upon payment of a premium, the right to sell a specified quantity of an underlying asset at a fixed exercise price over a defined period of time. When the Fund sells a put option on an index and the index decreases in value, the purchaser of the put option has the right to exercise the option, obligating the Fund to make a cash payment equal to the difference between the option’s exercise price and the prevailing index value. When the Fund sells a put option on an ETF and the ETF decreases in value, the purchaser of the put option has the right to exercise the option, obligating the Fund to purchase the ETF at an exercise price that is higher than the prevailing market price. The Fund collects option premium income when it sells the put option. If the index or ETF increases in value, the purchaser of the put option is unlikely to exercise the option since the prevailing market price will be higher than the exercise price. Accordingly, the Fund gains income when the value of the underlying index or ETF from which the option is derived advances. The Fund’s investment adviser determines the Fund’s exposure to each put option by evaluating metrics associated with the valuation of options, including, but not limited to, volatility, time to expiration and the relationship of the exercise price to the market price of the index or ETF. The Fund’s investment adviser segregates on a daily basis cash, or other liquid assets, in an amount equal to the Fund’s net obligations under each put option.

The Fund buys and sells both put and call exchange-traded listed options to establish exposure to the overall market. The Fund does not intend to invest directly in equity securities or mutual funds (other than ETFs as described below). Options may also be used to protect the Fund’s investments against changes resulting from market conditions (a practice called “hedging”) or to generate income and gains. A call option gives the purchaser of the option, upon payment of a premium, the right to buy a specified quantity of an underlying asset at a fixed exercise price over a defined period of time. The Fund may purchase and sell

put and call options to adjust the risk and return of its overall investment positions. When the Fund’s investment adviser believes the value of an underlying asset will decline, the Fund may purchase a put option to profit from the decline. Similarly, when the investment adviser anticipates an increase in the value of an underlying asset, the Fund may purchase a call option with respect to that asset.

All option positions held by the Fund are exchange-traded and collateralized with cash, cash equivalents (for example, Treasury Bills, money market fund shares, etc.), other listed options or debt rated investment grade by at least one nationally recognized statistical ratings organization (“NRSRO”) or an ETF that invests in such securities. The Fund intends to hold cash and cash equivalents to collateralize the options in the Fund, and not as a separate principal investment strategy. The Fund may take a defensive position when the Fund’s investment adviser believes that current market, economic, political or other conditions are unsuitable and would impair the pursuit of the Fund’s investment objective. When taking a defensive position, the Fund may invest up to 100% of its assets in cash, cash equivalents, including but not limited to, obligations of the U.S. Government, money market fund shares, commercial paper, certificates of deposit and/or banker’s acceptances, as well as other interest bearing or discount obligations or debt instruments that carry an investment grade rating by a national rating agency. When the Fund takes a defensive position, the Fund may not achieve its investment objective.

The Fund may, from time to time, invest in futures contracts. Generally, the futures transactions will be utilized as a hedging instrument. A futures contract is a bilateral agreement to buy or sell a security (or deliver a cash settlement price, in the case of a contract relating to an index or otherwise not calling for physical delivery at the end of trading in the contracts) for a set price in the future.  By using futures contracts as a risk management technique, given the greater liquidity in the futures market than in the cash market, it may be possible for the Fund’s investment adviser to accomplish certain results more quickly and with lower transaction costs. The Fund may also invest directly in ETFs that are based on broad-based securities market indices, such as the S&P 500® Index.

The Fund’s investment adviser reallocates the Fund’s investments continually to be commensurate with the risk profile that the adviser deems appropriate for the Fund. The Fund seeks to use leverage to modify portfolio risk to equal to, or be less than that of, the market in total. The Fund’s investments in the types of securities and other investments described in this prospectus vary from time to time, and, at any time, the Fund may not be invested in all of the types of securities and other investments described in this prospectus.

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IPSAX - Performance

Return Ranking - Trailing

Period IPSAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.3% -2.8% 240.8% 19.37%
1 Yr 22.8% -4.3% 140.6% 88.70%
3 Yr 5.9%* -8.3% 18.3% 78.21%
5 Yr 6.4%* -5.0% 17.3% N/A
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period IPSAX Return Category Return Low Category Return High Rank in Category (%)
2023 16.1% -34.1% 904.0% 63.51%
2022 -24.9% -28.6% 438.4% 86.13%
2021 12.3% -93.5% 8.2% 21.38%
2020 2.6% -38.9% 19.8% 61.24%
2019 3.8% -10.9% 12.8% N/A

Total Return Ranking - Trailing

Period IPSAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.3% -2.7% 244.0% 19.37%
1 Yr 22.8% -4.3% 140.6% 85.65%
3 Yr 5.9%* -8.3% 18.3% 75.64%
5 Yr 6.4%* -5.4% 17.3% N/A
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Total Return Ranking - Calendar

Period IPSAX Return Category Return Low Category Return High Rank in Category (%)
2023 16.1% -34.1% 904.0% 63.51%
2022 -16.0% -5.9% 438.4% 86.71%
2021 18.2% -81.2% 8.2% 32.41%
2020 3.1% -29.0% 19.8% 13.95%
2019 13.7% -10.9% 12.8% N/A

NAV & Total Return History


IPSAX - Holdings

Concentration Analysis

IPSAX Category Low Category High IPSAX % Rank
Net Assets 48.1 M 25 17.4 B 63.67%
Number of Holdings 50 2 508 52.67%
Net Assets in Top 10 35.5 M -6.66 M 5.12 B 53.82%
Weighting of Top 10 75.70% 11.3% 100.0% 31.45%

Top 10 Holdings

  1. Federated Hermes Money Market Obligations Fund - Institutional Class 13.31%
  2. Spx Us 12/20/24 C4000 11.19%
  3. Spx Us 09/20/24 C4000 8.63%
  4. Spx Us 03/15/24 C4000 7.16%
  5. Spx Us 02/16/24 C4000 6.96%
  6. SPX Us 06/21/24 C4000 6.45%
  7. Spx Us 12/15/23 C4000 6.12%
  8. U.S. Government Treasury Bill, 0.000%, 12/28/2023 5.32%
  9. U.S. Government Treasury Bill, 0.000%, 01/25/2024 5.29%
  10. Spx Us 12/20/24 P5000 5.27%

Asset Allocation

Weighting Return Low Return High IPSAX % Rank
Other
73.01% 0.00% 45.92% 21.76%
Cash
16.38% -0.76% 100.29% 24.43%
Bonds
10.61% 0.00% 97.96% 12.21%
Stocks
0.00% -3.92% 100.76% 70.99%
Preferred Stocks
0.00% 0.00% 3.08% 4.96%
Convertible Bonds
0.00% 0.00% 20.91% 7.63%

Bond Sector Breakdown

Weighting Return Low Return High IPSAX % Rank
Derivative
73.01% 0.00% 0.13% 3.44%
Cash & Equivalents
13.31% 0.09% 100.00% 88.17%
Securitized
0.00% 0.00% 22.63% 4.96%
Corporate
0.00% 0.00% 91.57% 14.50%
Municipal
0.00% 0.00% 97.57% 2.67%
Government
0.00% 0.00% 99.91% 5.73%

Bond Geographic Breakdown

Weighting Return Low Return High IPSAX % Rank
US
10.61% 0.00% 97.96% 12.21%
Non US
0.00% 0.00% 16.94% 4.58%

IPSAX - Expenses

Operational Fees

IPSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.58% 0.20% 6.78% 29.22%
Management Fee 1.00% 0.20% 1.75% 69.78%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.28% N/A

Sales Fees

IPSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.75% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

IPSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

IPSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 0.00% 0.00% 456.80% 0.45%

IPSAX - Distributions

Dividend Yield Analysis

IPSAX Category Low Category High IPSAX % Rank
Dividend Yield 0.00% 0.00% 3.76% 8.18%

Dividend Distribution Analysis

IPSAX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Monthly Annually

Net Income Ratio Analysis

IPSAX Category Low Category High IPSAX % Rank
Net Income Ratio -0.56% -2.54% 14.24% 58.61%

Capital Gain Distribution Analysis

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

Distributions History

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IPSAX - Fund Manager Analysis

Managers

Dominick Paoloni


Start Date

Tenure

Tenure Rank

Apr 19, 2016

6.12

6.1%

Managing Principal and Chief Investment Officer of IPS Strategic Capital, Dominick Paoloni has served the investment community for over 35 years. Dominick received his Certified Investment Management Analyst (CIMA®) through the Wharton School of Business and completed the College for Financial Planning’s CFP certification program. An Adjunct Professor at the University of Denver, he frequently lectures in Denver and internationally on the real-world use of derivatives in risk-defined money management. Dominick is a nationally known writer, facilitator, and radio host and commentator. In 2009, he was recognized by Morningstar Advisor Magazine for successfully protecting his clients against the disastrous 2008 meltdown with innovative portfolios which weathered the storm with only a small fraction of the market’s losses. He has also been featured in numerous other publications, including EQ Derivatives Magazine, Financial Planning Magazine, the Denver Post, and the Journal of Investment Consulting, which published one of his white papers. His life’s work is striving to deliver a risk management solution that doesn’t rely on market timing or asset allocation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 19.77 3.61 5.67