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Name

As of 02/03/2025

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

LoCorr Spectrum Income Fund

LSPAX | Fund

$5.60

$75.5 M

8.27%

$0.46

3.16%

Vitals

YTD Return

5.4%

1 yr return

14.2%

3 Yr Avg Return

1.6%

5 Yr Avg Return

3.9%

Net Assets

$75.5 M

Holdings in Top 10

25.8%

52 WEEK LOW AND HIGH

$5.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 3.16%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 53.00%

Redemption Fee 2.00%

Min Investment

Standard (Taxable)

$2,500

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 02/03/2025

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

LoCorr Spectrum Income Fund

LSPAX | Fund

$5.60

$75.5 M

8.27%

$0.46

3.16%

LSPAX - Profile

Distributions

  • YTD Total Return 5.4%
  • 3 Yr Annualized Total Return 1.6%
  • 5 Yr Annualized Total Return 3.9%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.22%
DIVIDENDS
  • Dividend Yield 8.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    LoCorr Spectrum Income Fund
  • Fund Family Name
    LoCorr Funds
  • Inception Date
    Dec 31, 2013
  • Shares Outstanding
    2165957
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Steven Carhart

Fund Description

The Fund seeks to achieve its investment objectives by allocating its assets primarily among income-producing securities using an "Income" Strategy.
The Income strategy employed by the Fund's sub-adviser attempts to produce current income and capital appreciation. The primary focus of this portfolio is exchange traded “pass-through” securities that distribute substantially all of their profits directly to their shareholders. The main categories of such securities include Real Estate Investment Trusts (“REITs”), Master Limited Partnerships (”MLPs”), Closed End Funds (“CEFs”), Royalty Trusts, and Business Development Companies (”BDCs”). In addition to such securities, the sub-adviser may include in the portfolio exchange traded common stocks and bonds, including those issued by foreign entities. These securities may be of any market capitalization or, in the case of bonds, any maturity or credit quality. These may include bonds of higher yield and higher risk, commonly called "junk bonds" that may be rated BB+ and below by Standard & Poor’s Ratings Services (“S&P”) or similarly rated by another nationally recognized statistical rating organization (“NRSRO”).
To reduce overall portfolio market risk or security specific risk, the Adviser may employ hedging strategies. These strategies attempt to mitigate potential losses in value in certain Fund holdings. The Adviser attempts to hedge risks by investing long and/or short in exchange-traded futures, ETFs and exchange-traded and over-the-counter options, selling securities short and entering into swap contracts. The Adviser takes short positions in equity or interest rate futures contracts to protect against declines in the equity market and debt market, respectively. The Adviser may also invest in inverse ETFs (those that are designed to have price changes that move in the opposite direction of a market index) to protect against declines in the equity market and debt market. The Adviser may invest in protective put options that give the Fund the right to sell a security at a specific price regardless of the decline in the market price. The Adviser may also combine long and short (written) put and call options in "spread" transactions that are designed to protect the Fund over a range of price changes. Short selling is also used to hedge against overall market or sector price declines. Similarly, swaps contracts (agreements to exchange payments based on price changes in an index or specific security) are used to hedge against overall market, sector or security-specific price declines.
The composition of the portfolio will vary over time according to the sub-adviser’s evaluation of economic and market conditions, including prospects for growth and inflation, as they affect the potential returns from different classes of securities. This strategic evaluation is combined with fundamental research on the individual securities considered for inclusion in the portfolio in order to determine the composition of the portfolio at any point in time. Depending on market conditions, the Fund’s assets may be solely allocated to its Income Strategy for significant periods of time.
The Adviser, on behalf of itself and on behalf of the Fund and other funds it advises or may advise in the future that are each a series of LoCorr Investment Trust, was granted an exemptive order from the Securities Exchange Commission (the “SEC”) that permits the Adviser, with Board of Trustees approval, to enter into or amend sub-advisory agreements with sub-advisers without obtaining shareholder approval. Shareholders will be notified within 90 days of the engagement of an additional sub-adviser or sub-advisers to manage a portion of the Fund's portfolio.
ADVISER'S INVESTMENT PROCESS
The Adviser will pursue the Fund's investment objectives, in part, by utilizing its investment and risk management process.
The Adviser buys securities that it believes offer above-average expected returns and lower-than-average volatility and sells them when it believes they have reached their target price, to adjust asset allocation or when more attractive investments are available.
SUB-ADVISER'S INVESTMENT PROCESS
Bramshill Investments (“Bramshill”) serves as sub-adviser for the Spectrum Income Fund with respect to the Fund’s Income strategy. The sub-adviser's approach towards management of the Income Strategy involves both "top down" and "bottom up" elements:
•Security Selection: The sub-adviser screens for securities with attractive yields, liquidity and industry classification. The sub-adviser considers criteria including but not limited to discount to book value, discounted cash flows, discount to the net asset value, sustainability and/or growth of distributions; quality of management; and the security’s consistency with the portfolio manager’s macroeconomic views. High-yielding securities may include non-investment grade securities.
•Sector Selection: The relative concentration of each category of assets is based on the sub-adviser’s outlook on the economic and inflationary conditions. This evaluation is based on macroeconomic data and forecasts, as well as technical analysis of market performance of asset classes.
The totality of this process is intended to produce a portfolio that offers current and projected yields meaningfully greater than those provided by broad common stock or investment grade bond indexes. The sub-adviser believes that its research processes make it likely that those yields will be sustained or increased, and that there is a reasonable expectation that modest capital gains can be achieved over a market cycle.
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LSPAX - Performance

Return Ranking - Trailing

Period LSPAX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% 1.2% 5.4% 1.09%
1 Yr 14.2% 0.1% 24.8% 72.68%
3 Yr 1.6%* -0.9% 9.6% 96.13%
5 Yr 3.9%* 0.9% 12.9% 98.77%
10 Yr 2.2%* 1.5% 11.7% 99.18%

* Annualized

Return Ranking - Calendar

Period LSPAX Return Category Return Low Category Return High Rank in Category (%)
2024 0.2% -4.6% 20.3% 93.99%
2023 -6.6% -6.6% 33.6% 99.45%
2022 -17.5% -44.4% -9.8% 7.18%
2021 13.5% -24.1% 18.9% 28.65%
2020 -10.7% -10.9% 60.4% 98.77%

Total Return Ranking - Trailing

Period LSPAX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% 1.2% 5.4% 1.09%
1 Yr 14.2% 0.1% 24.8% 72.68%
3 Yr 1.6%* -0.9% 9.6% 96.13%
5 Yr 3.9%* 0.9% 12.9% 98.77%
10 Yr 2.2%* 1.5% 11.7% 99.18%

* Annualized

Total Return Ranking - Calendar

Period LSPAX Return Category Return Low Category Return High Rank in Category (%)
2024 9.7% -1.0% 21.5% 93.99%
2023 2.4% 1.4% 34.9% 99.45%
2022 -10.8% -43.2% -3.8% 5.52%
2021 22.1% -24.1% 26.7% 3.51%
2020 -2.6% -5.3% 62.8% 96.32%

NAV & Total Return History

LSPAX - Holdings

Concentration Analysis

LSPAX Category Low Category High LSPAX % Rank
Net Assets 75.5 M 10.9 M 130 B 91.80%
Number of Holdings 74 5 8145 12.02%
Net Assets in Top 10 18.2 M 7.75 M 26.1 B 97.27%
Weighting of Top 10 25.76% 20.0% 100.1% 95.63%

Top 10 Holdings

  1. US BANK MMDA - USBGFS 9 4.54%
  2. AGNC Investment Corp 3.08%
  3. Barrick Gold Corp 3.05%
  4. Annaly Capital Management Inc 2.83%
  5. Energy Transfer LP 2.46%
  6. Cheniere Energy Partners LP 2.07%
  7. Plains All American Pipeline LP 1.98%
  8. CVR Partners LP 1.95%
  9. Enterprise Products Partners LP 1.91%
  10. Ares Capital Corp 1.90%

Asset Allocation

Weighting Return Low Return High LSPAX % Rank
Stocks 		90.82% 0.00% 100.04% 75.96%
Cash 		4.63% 0.00% 15.28% 6.56%
Preferred Stocks 		4.55% 0.00% 4.55% 1.64%
Convertible Bonds 		2.09% 0.00% 3.88% 6.56%
Other 		0.00% -57.83% 9.83% 74.86%
Bonds 		0.00% 0.00% 170.81% 81.97%

Stock Sector Breakdown

Weighting Return Low Return High LSPAX % Rank
Real Estate 		28.04% 0.00% 28.04% 1.65%
Energy 		20.88% 0.00% 31.98% 2.20%
Utilities 		15.29% 0.00% 15.29% 1.65%
Financial Services 		13.57% 9.56% 42.24% 74.73%
Industrials 		6.61% 1.80% 14.87% 97.80%
Basic Materials 		4.48% 0.00% 8.62% 42.86%
Consumer Defense 		4.27% 0.47% 14.80% 92.86%
Healthcare 		2.06% 2.06% 19.02% 100.00%
Communication Services 		1.90% 1.90% 13.69% 100.00%
Technology 		1.75% 1.75% 32.38% 100.00%
Consumer Cyclical 		1.15% 1.15% 24.72% 100.00%

Stock Geographic Breakdown

Weighting Return Low Return High LSPAX % Rank
US 		90.82% 0.00% 100.04% 71.58%
Non US 		0.00% 0.00% 32.92% 80.87%

LSPAX - Expenses

Operational Fees

LSPAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.16% 0.23% 4.31% 2.73%
Management Fee 1.30% 0.00% 1.30% 100.00%
12b-1 Fee 0.25% 0.00% 1.00% 50.00%
Administrative Fee N/A 0.01% 0.28% N/A

Sales Fees

LSPAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 3.00% 5.75% 27.59%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

LSPAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 2.00% 2.00% 80.00%

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.

LSPAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 53.00% 0.18% 300.02% 82.35%

LSPAX - Distributions

Dividend Yield Analysis

LSPAX Category Low Category High LSPAX % Rank
Dividend Yield 8.27% 0.00% 8.81% 1.09%

Dividend Distribution Analysis

LSPAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Quarterly Annual

Net Income Ratio Analysis

LSPAX Category Low Category High LSPAX % Rank
Net Income Ratio 1.22% -0.65% 5.31% 18.89%

Capital Gain Distribution Analysis

LSPAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Monthly Annually

Distributions History

View More +

LSPAX - Fund Manager Analysis

Managers

Steven Carhart

Start Date

Tenure

Tenure Rank

Dec 31, 2013

8.42

8.4%

Mr. Carhart has been with the sub-adviser since its founding in 2016. He has been an investment manager since 1987. His previous experience includes President and Chief Investment Officer of Trust & Fiduciary Management Services, Inc. from 1999 to 2016, management of institutional portfolios at the Northern Trust Company from 1987 to 1991; portfolio manager of the Baker Fentress closed-end fund from 1991 through 1996; and management of the Pioneer Mid Cap fund from 1996 to 1999. Mr. Carhart holds an SB in Electrical Engineering from the Massachusetts Institute of Technology and an SM from the Sloan School of Management at MIT. He is also a CFA® Charterholder.

Jon Essen

Start Date

Tenure

Tenure Rank

Dec 31, 2013

8.42

8.4%

Mr. Essen has served as Chief Financial Officer of the Adviser since it was founded in November 2010. Mr. Essen also serves as Senior Vice President and Chief Financial Officer of Octavus Group, LLC, and as a Registered Representative of LoCorr Distributors, LLC, positions both held since April 2008. Mr. Essen also began serving as Principal and Chief Compliance Officer of LoCorr Distributors, LLC in September 2008. Mr. Essen also served as Chief Operating Officer of the Adviser and affiliates from 2008 to 2016. Previously, Mr. Essen served as Chief Operating Officer of a commercial finance enterprise from May 2002 to April 2008. Additionally, Mr. Essen was Chief Financial Officer of Jundt Associates, Inc. from 1998 to 2002.

Art DeGaetano

Start Date

Tenure

Tenure Rank

Mar 28, 2016

6.18

6.2%

Art DeGaetano is a Principal of Bramshill Investments. Before starting Bramshill in May of 2012, Mr. DeGaetano was a Senior Portfolio Manager at GLG Partners from 2007. Prior to GLG Partners, he traded at RBS Greenwich Capital where he was a Managing Director and Head of Credit Trading for two years. Prior to RBS, he traded for 12 years for Bear Stearns and was a Senior Managing Director and Head Trader on the high yield desk. Mr. DeGaetano has a B.A. from Colgate University. Mr. DeGaetano has been the primary portfolio manager for the Bramshill Income Performance strategy since its inception in April 2016.

Sean Katof

Start Date

Tenure

Tenure Rank

Mar 28, 2016

6.18

6.2%

Sean Katof, CFA, has served as Senior Vice President and Portfolio Manager for the Funds since 2016. Prior to joining LoCorr, Mr. Katof served as Director of Capital Markets at SLOCUM, an institutional consulting firm, from 2005 to 2015. Prior to joining SLOCUM, Mr. Katof served as Portfolio Manager at Devenir Investment Advisors where he managed the Industry Leaders Core Equity portfolio from 2004 to 2005. Prior to that, Mr. Katof was a Vice President and Portfolio Manager at INVESCO Funds Group where he worked from 1994 to 2003. Mr. Katof received his B.S. in Business Administration with an emphasis in Finance from the University of Colorado at Boulder and an M.S. in Finance from the University of Colorado at Denver. Mr. Katof holds the Chartered Financial Analyst (“CFA”) and Chartered Alternative Investment Analyst (“CAIA”) designations.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.19 26.6 6.51 2.41

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