Rational Strategic Allocation Fund
Name
As of 04/19/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
8.7%
1 yr return
25.9%
3 Yr Avg Return
4.5%
5 Yr Avg Return
5.5%
Net Assets
$9.98 M
Holdings in Top 10
92.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.46%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 2.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/19/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
RHSIX - Profile
Distributions
- YTD Total Return 8.7%
- 3 Yr Annualized Total Return 4.5%
- 5 Yr Annualized Total Return 5.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.78%
- Dividend Yield 0.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameRational Strategic Allocation Fund
-
Fund Family NameRational Funds
-
Inception DateMay 31, 2016
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDavid Miller
Fund Description
The Fund seeks to achieve its investment objective by investing in a portfolio of futures contracts on the S&P 500 Index (the Index) (Index Futures) and in income-oriented securities. The Index measures the performance of the 500 largest publicly traded companies in the United States. The Funds investments in Index Futures are designed to provide a return (before fees and expenses) that approximates the performance of the Index. The Fund also invests in a portfolio of income-oriented mutual funds typically representing non-traditional fixed income asset classes (Underlying Funds) with the objective to: (1) provide current income; (2) provide additional return over the long term; and (3) support the goal of moderate capital appreciation by buffering the impact of downside equity market volatility. The Underlying Funds are also advised by the Advisor or an affiliate of the Advisor. Cash and cash equivalents held in the portfolio will serve as margin or collateral for the Funds futures investments.
Under normal market conditions, the Fund intends to invest in a portfolio of Underlying Funds, excluding cash and cash equivalents required for margin or collateral, while also maintaining notional exposure to the Index through its investments in futures contracts, which are intended to provide the Fund with economic exposure to U.S. equities in an amount up to the value of the Funds net assets. The term notional exposure refers to an investors exposure to the face value of an asset, whereas economic exposure refers to exposure to the market value of an asset. As a result, the Funds total investment exposure (direct investments in Underlying Funds plus notional exposure to the Index) will typically be equal to approximately 200% of the Funds net asset value. The Fund will maintain roughly 70% - 100% notional exposure to futures and roughly 70% - 100% notional exposure to underlying funds. The Fund could lose money on its investments in the Underlying Funds and through its exposure to the Index at the same time, potentially magnifying losses during periods of equity market sell-offs.
The Underlying Funds in which the Fund may invest typically focus on non-traditional fixed income asset classes such as agency and non-agency residential and commercial mortgage backed securities (MBS) (including hedged agency MBS and collateralized mortgage obligations); asset-backed securities (including collateralized debt obligations (CDOs) and collateralized loan obligations (CLOs)); corporate debt, convertible securities, and floating rate loans and other floating rate investments. The Fund may invest in Underlying Funds without any constraints as to the market capitalization, duration, maturity, country of domicile (including emerging market countries), or type of securities or investments held by the Underlying Funds. Certain of the Underlying Funds may hold, without limit, debt securities of any credit quality including below investment grade debt securities (also known as junk bonds).
The Advisor has broad discretion in the purchase of Underlying Funds for the Funds portfolio. The Advisor selects Underlying Funds based on a fundamental research process.
RHSIX - Performance
Return Ranking - Trailing
Period | RHSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.7% | -4.2% | 8.7% | 0.23% |
1 Yr | 25.9% | -3.1% | 25.9% | 0.23% |
3 Yr | 4.5%* | -16.5% | 4.2% | 0.24% |
5 Yr | 5.5%* | -4.8% | 7.1% | 4.69% |
10 Yr | N/A* | -0.1% | 7.1% | 45.40% |
* Annualized
Return Ranking - Calendar
Period | RHSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 17.1% | -1.3% | 27.4% | 1.17% |
2022 | -33.2% | -35.0% | -7.4% | 99.29% |
2021 | 14.5% | -11.5% | 14.6% | 0.48% |
2020 | -6.7% | -10.3% | 40.7% | 97.44% |
2019 | 5.0% | -9.5% | 22.1% | 96.84% |
Total Return Ranking - Trailing
Period | RHSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.7% | -4.2% | 8.7% | 0.23% |
1 Yr | 25.9% | -3.1% | 25.9% | 0.23% |
3 Yr | 4.5%* | -16.5% | 4.2% | 0.24% |
5 Yr | 5.5%* | -4.8% | 7.1% | 4.69% |
10 Yr | N/A* | -0.1% | 7.1% | 44.14% |
* Annualized
Total Return Ranking - Calendar
Period | RHSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 24.0% | -1.3% | 28.2% | 0.70% |
2022 | -27.9% | -35.0% | -3.1% | 99.29% |
2021 | 32.0% | -11.5% | 32.0% | 0.24% |
2020 | -3.2% | -5.4% | 40.7% | 97.44% |
2019 | 12.6% | 4.5% | 27.7% | 85.00% |
NAV & Total Return History
RHSIX - Holdings
Concentration Analysis
RHSIX | Category Low | Category High | RHSIX % Rank | |
---|---|---|---|---|
Net Assets | 9.98 M | 244 K | 50.8 B | 97.22% |
Number of Holdings | 6 | 3 | 5294 | 97.67% |
Net Assets in Top 10 | 9.26 M | 243 K | 10.1 B | 97.44% |
Weighting of Top 10 | 92.73% | 6.4% | 127.7% | 26.06% |
Top 10 Holdings
- CATALYST SYSTEMATIC ALPHA 63.07%
- CTLYST-F/R I-I 14.51%
- R/P88-CNVRT-INS 8.71%
- B 05/16/24 4.91%
- FIRST AM-TR OB-X 0.82%
- SP500 EMINI FUT Mar24 0.72%
Asset Allocation
Weighting | Return Low | Return High | RHSIX % Rank | |
---|---|---|---|---|
Stocks | 86.29% | 0.00% | 102.36% | 54.29% |
Convertible Bonds | 11.95% | 0.00% | 71.77% | 1.17% |
Cash | 8.08% | -35.68% | 37.58% | 11.40% |
Bonds | 4.91% | 0.00% | 81.41% | 40.37% |
Other | 0.72% | -0.44% | 63.55% | 19.53% |
Preferred Stocks | 0.00% | 0.00% | 21.95% | 97.91% |
Stock Sector Breakdown
Weighting | Return Low | Return High | RHSIX % Rank | |
---|---|---|---|---|
Utilities | 48.33% | 0.00% | 48.33% | 0.71% |
Energy | 19.19% | 0.00% | 62.93% | 1.65% |
Industrials | 14.90% | 0.14% | 17.90% | 3.07% |
Financial Services | 9.55% | 0.00% | 83.50% | 93.14% |
Real Estate | 7.81% | 0.00% | 43.16% | 24.82% |
Technology | 0.22% | 0.22% | 27.92% | 99.76% |
Healthcare | 0.00% | 0.00% | 24.25% | 99.53% |
Communication Services | 0.00% | 0.00% | 11.11% | 99.53% |
Consumer Defense | 0.00% | 0.00% | 18.62% | 99.76% |
Consumer Cyclical | 0.00% | 0.00% | 14.20% | 99.76% |
Basic Materials | 0.00% | 0.00% | 32.82% | 99.76% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | RHSIX % Rank | |
---|---|---|---|---|
US | 86.29% | 0.00% | 102.36% | 54.42% |
Non US | 0.00% | 0.00% | 23.57% | 98.37% |
Bond Sector Breakdown
Weighting | Return Low | Return High | RHSIX % Rank | |
---|---|---|---|---|
Securitized | 40.21% | 0.00% | 52.08% | 2.82% |
Corporate | 33.93% | 0.00% | 96.66% | 42.25% |
Cash & Equivalents | 0.82% | 0.00% | 36.70% | 46.98% |
Derivative | 0.72% | -0.44% | 63.54% | 7.44% |
Municipal | 0.00% | 0.00% | 99.85% | 99.53% |
Government | 0.00% | 0.00% | 63.33% | 99.77% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | RHSIX % Rank | |
---|---|---|---|---|
US | 4.91% | 0.00% | 81.41% | 40.23% |
Non US | 0.00% | 0.00% | 18.69% | 98.14% |
RHSIX - Expenses
Operational Fees
RHSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.46% | 0.06% | 7.81% | 3.48% |
Management Fee | 0.10% | 0.00% | 1.25% | 39.77% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.70% | N/A |
Sales Fees
RHSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
RHSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.00% | 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.
RHSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 2.00% | 2.00% | 380.00% | 1.26% |
RHSIX - Distributions
Dividend Yield Analysis
RHSIX | Category Low | Category High | RHSIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 8.01% | 42.23% |
Dividend Distribution Analysis
RHSIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annually | Quarterly | Quarterly |
Net Income Ratio Analysis
RHSIX | Category Low | Category High | RHSIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.78% | -1.22% | 6.83% | 6.12% |
Capital Gain Distribution Analysis
RHSIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.030 | OrdinaryDividend |
Dec 29, 2023 | $0.085 | OrdinaryDividend |
Sep 29, 2023 | $0.073 | OrdinaryDividend |
Jun 30, 2023 | $0.087 | OrdinaryDividend |
Mar 31, 2023 | $0.181 | OrdinaryDividend |
Dec 20, 2022 | $0.373 | OrdinaryDividend |
Sep 30, 2022 | $0.077 | OrdinaryDividend |
Jun 30, 2022 | $0.061 | OrdinaryDividend |
Mar 31, 2022 | $0.045 | OrdinaryDividend |
Sep 29, 2021 | $0.084 | OrdinaryDividend |
Jun 29, 2021 | $0.082 | OrdinaryDividend |
Mar 30, 2021 | $0.046 | OrdinaryDividend |
Dec 30, 2020 | $0.109 | OrdinaryDividend |
Sep 29, 2020 | $0.063 | OrdinaryDividend |
Jun 29, 2020 | $0.057 | OrdinaryDividend |
Mar 30, 2020 | $0.062 | OrdinaryDividend |
Dec 30, 2019 | $0.249 | OrdinaryDividend |
Dec 19, 2019 | $0.215 | OrdinaryDividend |
Sep 27, 2019 | $0.082 | OrdinaryDividend |
Jun 27, 2019 | $0.089 | OrdinaryDividend |
Mar 28, 2019 | $0.047 | OrdinaryDividend |
Dec 28, 2018 | $0.227 | OrdinaryDividend |
Sep 27, 2018 | $0.053 | OrdinaryDividend |
Jun 28, 2018 | $0.054 | OrdinaryDividend |
Mar 28, 2018 | $0.029 | OrdinaryDividend |
Dec 28, 2017 | $0.373 | OrdinaryDividend |
Sep 28, 2017 | $0.043 | OrdinaryDividend |
Jun 29, 2017 | $0.035 | OrdinaryDividend |
Mar 30, 2017 | $0.013 | OrdinaryDividend |
Sep 29, 2016 | $0.030 | OrdinaryDividend |
Jun 28, 2016 | $0.026 | OrdinaryDividend |
RHSIX - Fund Manager Analysis
Managers
David Miller
Start Date
Tenure
Tenure Rank
May 01, 2016
6.08
6.1%
David Miller, Owner and Chief Investment Officer of Rational Advisors, Inc. since 2016. He is a co-founder and has served as Chief Investment Officer of Catalyst Capital Advisors LLC since 2006, and is responsible for the day-to-day management of several funds managed by Catalyst. Mr. Miller is also a member of Catalyst International Advisors LLC since 2019, Insights Media LLC since 2019, and Catalyst Insurance Corporation II since 2018. Prior to founding Catalyst, Mr. Miller was the CEO of Investment Catalyst, an investment newsletter he founded in 2005. The Investment Catalyst newsletter worked to identify undervalued stocks with a near term catalyst for appreciation. Mr. Miller was a trader with UBS, working on the equity derivatives desk from July 2002 until December 2002. Mr. Miller was the CEO of MovieDaze Media Group, a search engine marketing company that he co-founded in 2003 and sold in 2006. He received a BS in Economics from the University of Pennsylvania, Wharton School and a MBA in Finance from the University of Michigan, Ross School of Business.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 28.73 | 6.44 | 2.41 |