SilverPepper Cmdty Strats Glb Macro Adv
Name
Price
Aum/Mkt Cap
YIELD & DIV
Exp Ratio
Watchlist
Vitals
YTD Return
16.6%
1 yr return
34.8%
3 Yr Avg Return
18.0%
5 Yr Avg Return
10.0%
Net Assets
$231 M
Holdings in Top 10
91.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.15%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 244.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Investment Style
Commodities Broad Basket
Name
Price
Aum/Mkt Cap
YIELD & DIV
Exp Ratio
Watchlist
SPCAX - Profile
Distributions
- YTD Total Return 16.6%
- 3 Yr Annualized Total Return 18.0%
- 5 Yr Annualized Total Return 10.0%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -2.14%
- Dividend Yield 20.4%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NameSilverPepper Commodity Strategies Global Macro Fund
-
Fund Family NameSilverPepper
-
Inception DateOct 31, 2013
-
Shares OutstandingN/A
-
Share ClassAdv
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerRenee Haugerud
Fund Description
Global Macro is an investment strategy that is defined by its freedom to trade both long and short positions in an array of asset classes and investment instruments located anywhere in the world. Under normal market conditions, the advisor expects to primarily invest in securities and instruments that provide investment exposure to a variety of countries and regions throughout the world, including both developed and emerging markets.
SPCAX - Performance
Return Ranking - Trailing
| Period | SPCAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 16.6% | -21.4% | 55.2% | 41.05% |
| 1 Yr | 34.8% | -88.7% | 188.9% | 62.61% |
| 3 Yr | 18.0%* | -47.9% | 52.4% | 62.56% |
| 5 Yr | 10.0%* | -39.9% | 82.1% | 58.38% |
| 10 Yr | N/A* | -29.8% | 27.7% | N/A |
* Annualized
Return Ranking - Calendar
| Period | SPCAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2021 | -1.6% | -58.5% | 1912.1% | 68.33% |
| 2020 | 4.0% | -87.8% | 612.3% | 43.12% |
| 2019 | 4.3% | -88.2% | 438.4% | 64.15% |
| 2018 | -13.0% | -81.2% | 323.8% | 47.85% |
| 2017 | -2.1% | -37.6% | 55.7% | 77.63% |
Total Return Ranking - Trailing
| Period | SPCAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 16.6% | -49.6% | 119.0% | 45.85% |
| 1 Yr | 34.8% | -88.7% | 188.9% | 59.91% |
| 3 Yr | 18.0%* | -47.9% | 52.4% | 60.19% |
| 5 Yr | 10.0%* | -39.9% | 82.1% | 57.23% |
| 10 Yr | N/A* | -29.8% | 27.7% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | SPCAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2021 | -1.6% | -58.5% | 1912.1% | 68.33% |
| 2020 | 4.0% | -87.8% | 612.3% | 43.12% |
| 2019 | 4.3% | -88.2% | 438.4% | 64.62% |
| 2018 | -13.0% | -81.2% | 323.8% | 50.31% |
| 2017 | -2.1% | -37.6% | 55.7% | 84.21% |
NAV & Total Return History
SPCAX - Holdings
Concentration Analysis
| SPCAX | Category Low | Category High | SPCAX % Rank | |
|---|---|---|---|---|
| Net Assets | 231 M | 348 K | 63.1 B | 50.21% |
| Number of Holdings | 27 | 1 | 846 | 53.55% |
| Net Assets in Top 10 | 198 M | 0 | 63.2 B | 66.45% |
| Weighting of Top 10 | 91.89% | 20.7% | 100.0% | 39.44% |
Top 10 Holdings
- Umb Money Mkt Fd 66.06%
- Silver Pepper Cayman Entity 23.49%
- United States Treasury Bills 0% 5.62%
- United States Treasury Bills 0% 5.46%
- United States Treasury Bills 5.05%
- United States Treasury Bills 0% 4.21%
- United States Treasury Bills 0% 3.02%
- United States Treasury Bills 0% 2.32%
- Range Resources Corp 0.10%
- Walgreens Boots Alliance Inc 0.09%
Asset Allocation
| Weighting | Return Low | Return High | SPCAX % Rank | |
|---|---|---|---|---|
| Cash | 68.70% | -81.87% | 100.00% | 16.99% |
| Stocks | 23.49% | 0.00% | 92.26% | 10.97% |
| Other | 7.80% | -47.59% | 165.73% | 84.31% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 81.70% |
| Convertible Bonds | 0.00% | 0.00% | 3.89% | 88.24% |
| Bonds | 0.00% | 0.00% | 96.71% | 98.71% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | SPCAX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 27.00% | 78.79% |
| Technology | 0.00% | 0.00% | 2.77% | 96.97% |
| Real Estate | 0.00% | 0.00% | 13.82% | 78.79% |
| Industrials | 0.00% | 0.00% | 23.28% | 90.91% |
| Healthcare | 0.00% | 0.00% | 1.73% | 87.88% |
| Financial Services | 0.00% | 0.00% | 100.00% | 75.76% |
| Energy | 0.00% | 0.00% | 46.32% | 51.52% |
| Communication Services | 0.00% | 0.00% | 100.00% | 87.88% |
| Consumer Defense | 0.00% | 0.00% | 12.04% | 90.91% |
| Consumer Cyclical | 0.00% | 0.00% | 3.41% | 90.91% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 90.91% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | SPCAX % Rank | |
|---|---|---|---|---|
| US | 23.49% | -22.46% | 53.33% | 5.23% |
| Non US | 0.00% | 0.00% | 73.02% | 87.58% |
SPCAX - Expenses
Operational Fees
| SPCAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 2.15% | 0.10% | 3.08% | 3.51% |
| Management Fee | 1.50% | 0.00% | 1.75% | 96.58% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.02% | 0.45% | 42.55% |
Sales Fees
| SPCAX 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% | 4.00% | N/A |
Trading Fees
| SPCAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | 52.63% |
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.
| SPCAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 244.00% | 0.00% | 460.74% | 98.43% |
SPCAX - Distributions
Dividend Yield Analysis
| SPCAX | Category Low | Category High | SPCAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 20.39% | 0.00% | 44.77% | 16.74% |
Dividend Distribution Analysis
| SPCAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annually | Annually | Monthly | Annually |
Net Income Ratio Analysis
| SPCAX | Category Low | Category High | SPCAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -2.14% | -55.71% | 52.26% | 96.60% |
Capital Gain Distribution Analysis
| SPCAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Dividend Payout History
| Date | Amount | Type |
|---|---|---|
| Dec 02, 2021 | $1.962 | OrdinaryDividend |
| Dec 11, 2019 | $0.005 | OrdinaryDividend |
| Dec 12, 2018 | $0.439 | OrdinaryDividend |
SPCAX - Fund Manager Analysis
Managers
Renee Haugerud
Start Date
Tenure
Tenure Rank
Oct 31, 2013
8.59
8.6%
Renee Haugerud is the Founder, Chief Investment Officer and Managing Principal of Galtere. Ms. Haugerud began trading in the global financial and commodity markets beginning in 1981 for Cargill Inc., an agriculture and food company. Her interests in the relationship between financial markets and geopolitics led to her first international posting in Geneva, Switzerland, where she ultimately served as Cargill’s Foreign Exchange Trading Manager. Additionally, she further developed her expertise in a long range of securities by assuming the positions of Manager of the US Fixed Income trading desk, Minneapolis, MN; Financial Division Manager at the Melbourne Australia Office; board membership of Cargill Australia, and finally Vice President/Structural Trading Manager in Cargill’s headquarters in Minneapolis. Following her years at Cargill, Ms. Haugerud spent two years in Hong Kong as the Head of Proprietary Trading for Natwest in their Global Financial Markets division. She then returned to the United States as the Financial Trading Manager for Hunter Douglas N.A. in New York. Ms. Haugerud received her B.S. degree with Honors in Forest Resource Management from the University of Montana in 1980.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.33 | 17.03 | 5.77 | 11.51 |