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Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

Rational Special Situations Income Fund

RFXAX | Fund

$19.76

$633 M

4.77%

$0.94

2.01%

Vitals

YTD Return

0.6%

1 yr return

6.0%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$633 M

Holdings in Top 10

25.4%

52 WEEK LOW AND HIGH

$19.8
$19.57
$19.85

Expenses

OPERATING FEES

Expense Ratio 2.01%

SALES FEES

Front Load 4.75%

Deferred Load N/A

TRADING FEES

Turnover 4.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Investment Style

Multisector Bond

Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

Rational Special Situations Income Fund

RFXAX | Fund

$19.76

$633 M

4.77%

$0.94

2.01%

RFXAX - Profile

Distributions

  • YTD Total Return 0.6%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.88%
DIVIDENDS
  • Dividend Yield 4.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Rational Special Situations Income Fund
  • Fund Family Name
    Rational Funds
  • Inception Date
    Jul 17, 2019
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    William Van de Water

Fund Description

The fund seeks to achieve its investment objective by primarily investing in agency and non-agency residential and commercial mortgage-backed securities, with a focus on non-agency residential mortgage-backed securities. It does not limit its investments to a particular credit quality and may invest without limitation in debt securities rated below investment grade (commonly referred to as "junk" bonds). The fund is non-diversified.

RFXAX - Performance

Return Ranking - Trailing

Period RFXAX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -26.6% 28.2% 28.63%
1 Yr 6.0% -29.1% 49.5% 51.70%
3 Yr N/A* -10.1% 11.4% N/A
5 Yr N/A* -14.3% 13.4% N/A
10 Yr N/A* -1.3% 14.7% N/A

* Annualized

Return Ranking - Calendar

Period RFXAX Return Category Return Low Category Return High Rank in Category (%)
2020 -2.2% -49.2% 314.3% 75.43%
2019 N/A -35.1% 16.7% N/A
2018 N/A -48.0% 3.4% N/A
2017 N/A -14.8% 11.2% N/A
2016 N/A -11.2% 12.8% N/A

Total Return Ranking - Trailing

Period RFXAX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -26.6% 28.2% 28.63%
1 Yr 0.9% -33.2% 49.5% 86.46%
3 Yr N/A* -11.9% 13.0% N/A
5 Yr N/A* -15.3% 13.4% N/A
10 Yr N/A* -1.3% 14.7% N/A

* Annualized

Total Return Ranking - Calendar

Period RFXAX Return Category Return Low Category Return High Rank in Category (%)
2020 -2.2% -49.2% 314.3% 75.43%
2019 N/A -35.1% 16.7% N/A
2018 N/A -48.0% 8.0% N/A
2017 N/A -14.8% 15.2% N/A
2016 N/A -11.2% 17.7% N/A

NAV & Total Return History

RFXAX - Holdings

Concentration Analysis

RFXAX Category Low Category High RFXAX % Rank
Net Assets 633 M 25 145 B 52.10%
Number of Holdings 727 3 7887 32.08%
Net Assets in Top 10 149 M -8.09 B 8.87 B 38.74%
Weighting of Top 10 25.38% 3.9% 100.0% 57.86%

Top 10 Holdings

  1. First American Government Obligs U 7.25%
  2. Ambac Assurance Corporation 0% 5.37%
  3. Deer Finance Syndicated Loan 2.72%
  4. Deer Finance Syndicated Loan 2.72%
  5. Deer Finance Syndicated Loan 2.72%
  6. Deer Finance Syndicated Loan 2.72%
  7. Deer Finance Syndicated Loan 2.72%
  8. Deer Finance Syndicated Loan 2.72%
  9. Deer Finance Syndicated Loan 2.72%
  10. Deer Finance Syndicated Loan 2.72%

Asset Allocation

Weighting Return Low Return High RFXAX % Rank
Bonds 		92.01% -170.28% 217.61% 30.31%
Cash 		7.64% -154.89% 282.50% 43.77%
Preferred Stocks 		0.35% 0.00% 32.82% 39.62%
Stocks 		0.00% -40.29% 187.24% 94.21%
Other 		0.00% -39.52% 107.15% 73.96%
Convertible Bonds 		0.00% 0.00% 123.23% 97.86%

Bond Sector Breakdown

Weighting Return Low Return High RFXAX % Rank
Securitized 		80.58% 0.00% 99.40% 5.91%
Corporate 		11.66% 0.00% 100.00% 81.26%
Cash & Equivalents 		7.64% 0.00% 100.00% 50.06%
Government 		0.11% 0.00% 99.48% 84.53%
Derivative 		0.00% 0.00% 66.05% 92.20%
Municipal 		0.00% 0.00% 54.18% 88.18%

Bond Geographic Breakdown

Weighting Return Low Return High RFXAX % Rank
US 		90.42% -170.60% 209.58% 8.18%
Non US 		1.59% 0.00% 126.35% 94.47%

RFXAX - Expenses

Operational Fees

RFXAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.01% 0.02% 5.53% 14.73%
Management Fee 1.50% 0.00% 2.25% 94.52%
12b-1 Fee 0.25% 0.00% 1.00% 52.07%
Administrative Fee N/A 0.01% 0.85% N/A

Sales Fees

RFXAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.75% 0.00% 5.75% 16.20%
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

RFXAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.40% 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.

RFXAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 4.00% 0.00% 498.00% 2.32%

RFXAX - Distributions

Dividend Yield Analysis

RFXAX Category Low Category High RFXAX % Rank
Dividend Yield 4.77% 0.00% 2.95% 85.94%

Dividend Distribution Analysis

RFXAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

RFXAX Category Low Category High RFXAX % Rank
Net Income Ratio 1.88% -4.62% 11.44% 83.88%

Capital Gain Distribution Analysis

RFXAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Monthly Annually

Dividend Payout History

View More +

RFXAX - Fund Manager Analysis

Managers

William Van de Water

Start Date

Tenure

Tenure Rank

Jul 17, 2019

2.21

2.2%

William R. Van de Water has been working in finance since 2005. Mr. Van de Water joined ESM Management LLC as a residential mortgage-backed securities analyst and trader in June 2009 and became a managing director in December 2009. In 2014, Mr. Van de Water became a co-portfolio manager at ESM Management LLC. From 2005 through March 2009, Mr. Van de Water worked in the Boston office of Susquehanna International Group. His primary responsibility was to analyze and trade mortgage-backed securities. Mr. Van de Water earned joint B.S. degrees in Physics, Business, Economics, and Management from the California Institute of Technology in 2005.

Eric Meyer

Start Date

Tenure

Tenure Rank

Jul 17, 2019

2.21

2.2%

Mr. Eric Meyer serves as President & Co-Chief Investment Officer at ESM Management.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 27.77 5.46 2.75

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