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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

$10.09

$529 M

5.49%

$0.56

1.40%

Vitals

YTD Return

0.8%

1 yr return

5.4%

3 Yr Avg Return

0.1%

5 Yr Avg Return

1.7%

Net Assets

$529 M

Holdings in Top 10

84.7%

52 WEEK LOW AND HIGH

$10.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.40%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$10,000

IRA

$10,000


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

$10.09

$529 M

5.49%

$0.56

1.40%

THHYX - Profile

Distributions

  • YTD Total Return 0.8%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return 1.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.65%
DIVIDENDS
  • Dividend Yield 5.5%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Toews Tactical Income Fund
  • Fund Family Name
    Navigator Funds
  • Inception Date
    Jun 04, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Randall Schroeder

Fund Description

The Fund’s adviser seeks to achieve the Fund’s investment objectives by tactically investing in a portfolio of income-producing securities, including high-yield bonds, investment grade bonds, municipal bonds, U.S. Treasuries and/or cash/cash equivalents. In order to gain exposure to these securities the Fund invests primarily in (1) exchange traded funds (“ETFs”) and open-end investment companies (“Underlying Funds”) that primarily invest in or are otherwise exposed to domestic and foreign high-yield debt instruments (also known as “junk bonds”) (2) futures total return swaps or credit default swaps that used high yield debt instruments or high yield indexes as reference assets; (3) other U.S. or foreign fixed-income securities of any rating; (4) iBoxx iShares High Yield Corporate Bond Futures contracts or other futures contracts and (5) U.S. or foreign cash equivalents.

The adviser employs what it defines as a “tactical” strategy by investing in a combination of securities and derivatives that it believes will produce a high level of income, when in a bullish posture economic exposure of this Fund could be invested up to 100% in high yield debt instruments that the adviser believes will have a similar return to that of the securities in the BofA Merrill Lynch High Yield Cash Pay Index. The Fund defines high yield debt instruments as corporate bonds or other bonds or debt instrument that are generally rated lower than Baa3 by Moody’s Investors Services, Inc. (“Moody’s”) or lower than BBB by S&P (below investment grade).

The Fund’s secondary objective is to limit risk during unfavorable market conditions, and when the adviser determines such conditions exist, the Fund will attempt to uncorrelate from the overall bond market by taking a defensive position and/or be allocated 100% to U.S. Treasuries and/or short-term fixed income securities, U.S. or foreign cash or cash equivalents. The Fund may invest in US Treasury bills, notes, and bonds of any duration or length until maturity. The Fund may invest in derivatives or futures contracts that derive the value from US Treasury bills, notes, and bonds of any duration or length until maturity.

The Fund may hold equity index futures contracts and/or other derivatives. The advisor may sell short the iBoxx iShares High Yield Corporate Bond Futures contract to hedge the economic exposure of the Fund. The adviser also may use a “representative sampling” indexing strategy to manage the Fund. This indexing strategy involves investing in a representative sample of securities that collectively has an investment profile similar to the broad-based US and foreign stock indices and, with respect to the high-yield bond segments of the portfolio, the high-yield bond market as a whole.

The Fund may purchase and sell put and call options on broad-based market and futures market indices. A put option is a contract giving the owner the right, but not the obligation, to sell–or sell short–a specified amount of an underlying security at a pre-determined price within a specified time frame. A call option is a contract giving the option buyer the right, but not the obligation, to buy an asset or instrument at a specified price within a specific time period. The Fund may sell short ETFs that primarily invest in equities including equity index ETFs as well as futures contracts and derivatives on equities and equity indices. Short selling is an investment strategy that speculates on the decline in the price of a security.

The adviser primarily uses technical analysis, including monitoring price movements and momentum, of high-yield bond markets in an effort to identify the proper weighting of the Fund’s portfolio. The adviser buys and sells securities and derivatives to increase or decrease the Fund’s exposure to the various fixed income markets. The adviser’s decision to buy or sell a Fund holding will be made based on current market conditions and the adviser’s determination of the appropriate exposure level to the high-yield bond market.

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THHYX - Performance

Return Ranking - Trailing

Period THHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% -4.9% 8.2% 68.49%
1 Yr 5.4% -4.3% 26.0% 96.40%
3 Yr 0.1%* -15.6% 20.6% 87.91%
5 Yr 1.7%* -11.2% 37.3% 92.92%
10 Yr 2.5%* -4.7% 19.5% 81.18%

* Annualized

Return Ranking - Calendar

Period THHYX Return Category Return Low Category Return High Rank in Category (%)
2023 0.0% -4.7% 14.3% 98.29%
2022 -6.8% -33.4% 3.6% 2.66%
2021 -2.4% -8.4% 14.9% 92.33%
2020 2.9% -13.9% 302.7% 9.58%
2019 3.3% -4.4% 13.3% 93.28%

Total Return Ranking - Trailing

Period THHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% -4.9% 8.2% 68.49%
1 Yr 5.4% -4.3% 26.0% 96.40%
3 Yr 0.1%* -15.6% 20.6% 87.91%
5 Yr 1.7%* -11.2% 37.3% 92.92%
10 Yr 2.5%* -4.7% 19.5% 81.18%

* Annualized

Total Return Ranking - Calendar

Period THHYX Return Category Return Low Category Return High Rank in Category (%)
2023 4.5% -4.7% 18.7% 97.36%
2022 -5.3% -33.4% 47.8% 6.90%
2021 0.3% -8.4% 24.8% 95.76%
2020 5.2% -9.6% 325.6% 55.29%
2019 7.4% -3.8% 21.5% 93.79%

NAV & Total Return History


THHYX - Holdings

Concentration Analysis

THHYX Category Low Category High THHYX % Rank
Net Assets 529 M 1.85 M 22.6 B 46.39%
Number of Holdings 125 2 2736 89.66%
Net Assets in Top 10 435 M -492 M 4.45 B 13.58%
Weighting of Top 10 84.68% 4.2% 149.6% 1.39%

Top 10 Holdings

  1. B 11/07/23 79.74%
  2. BANKSAFE TOEWS 1.44%
  3. GS 6 3/4 10/01/37 0.57%
  4. DT 9 1/4 06/01/32 0.46%
  5. ABIBB 8.2 01/15/39 0.46%
  6. MBGGR 8 1/2 01/18/31 0.45%
  7. MET 10 3/4 08/01/39 0.42%
  8. GE 6 3/4 03/15/32 0.41%
  9. IBIG iBoxx iShr Dec23 0.36%
  10. MSFT 2.921 03/17/52 0.36%

Asset Allocation

Weighting Return Low Return High THHYX % Rank
Bonds
97.55% -3.13% 154.38% 14.90%
Cash
1.98% -52.00% 49.49% 80.86%
Other
0.47% -63.70% 102.57% 21.60%
Stocks
0.00% 0.00% 99.61% 78.03%
Preferred Stocks
0.00% 0.00% 8.06% 52.31%
Convertible Bonds
0.00% 0.00% 17.89% 94.29%

Bond Sector Breakdown

Weighting Return Low Return High THHYX % Rank
Cash & Equivalents
1.44% 0.00% 49.49% 68.52%
Derivative
0.47% -15.04% 42.26% 7.87%
Securitized
0.00% 0.00% 97.24% 56.72%
Corporate
0.00% 0.00% 129.69% 99.54%
Municipal
0.00% 0.00% 4.66% 22.41%
Government
0.00% 0.00% 99.07% 44.20%

Bond Geographic Breakdown

Weighting Return Low Return High THHYX % Rank
US
97.55% -3.13% 129.21% 9.10%
Non US
0.00% 0.00% 97.33% 50.15%

THHYX - Expenses

Operational Fees

THHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.40% 0.04% 31.61% 25.15%
Management Fee 1.00% 0.00% 1.84% 96.62%
12b-1 Fee 0.00% 0.00% 1.00% 1.88%
Administrative Fee N/A 0.00% 0.50% 49.00%

Sales Fees

THHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

THHYX 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.

THHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.00% 255.00% 99.78%

THHYX - Distributions

Dividend Yield Analysis

THHYX Category Low Category High THHYX % Rank
Dividend Yield 5.49% 0.00% 35.52% 86.20%

Dividend Distribution Analysis

THHYX Category Low Category High Category Mod
Dividend Distribution Frequency None SemiAnnual Monthly Monthly

Net Income Ratio Analysis

THHYX Category Low Category High THHYX % Rank
Net Income Ratio 2.65% -2.39% 14.30% 96.23%

Capital Gain Distribution Analysis

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

Distributions History

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THHYX - Fund Manager Analysis

Managers

Randall Schroeder


Start Date

Tenure

Tenure Rank

Jun 04, 2010

12.0

12.0%

Randy joined Toews in March of 1998. During his tenure he has been the primary overseer of the Toews analytic methodology and is currently the co-portfolio manager for the Toews Funds. Randy received a B.A. from Bethel College in Newton, KS in 1988 and a Masters of Arts from the State University of New York, Binghamton, New York in 1994.

Phillip Toews


Start Date

Tenure

Tenure Rank

Jun 04, 2010

12.0

12.0%

Phil Toews is the CEO and founder of the Toews Corporation. Phil helped pioneer the field of unconstrained tactical management by building models beginning in 1989. In the construction of the Toews Dynamic Hedging Strategy, his focus was on building effective loss avoidance and reliable market up-capture. Phil received a B.S. in Business and Economics from Bethel College in Newton, KS, in 1986. In 1987 he joined IDS/American Express as a Financial Consultant. From 1989 through 1994 he ran the money management division at Dorset Financial Services, Corp., of Devon, PA. Since 1994 he has acted as chief executive at Toews Corporation where he has overseen all aspects of the Toews System.

Jason Graffius


Start Date

Tenure

Tenure Rank

Aug 28, 2014

7.76

7.8%

Jason began working with the Toews Corporation in October 2013. He oversees the day-to-day operations of and researches investment opportunities for the Toews mutual funds. Prior to this role, Jason was a Vice President at BlackRock Financial Management, Inc. where he worked on the Structured Finance Team, overseeing Collateralized Debt Obligations and various Hedge Funds and Government Mandated Projects. Jason has also previously worked at JPMorgan. Mr. Graffius received a B.S. in Accounting from Rutgers University in Camden, NJ in 2002.

Charles Collins


Start Date

Tenure

Tenure Rank

Aug 31, 2017

4.75

4.8%

Charles Collins is Head of Trading, Options & Derivatives Specialist and Portfolio Manager for the Toews Corporation. Prior to joining Toews in May 2016, he was an equity derivatives broker at Tullett Prebon in Jersey City, NJ. In that role, his primary responsibility was providing investment banks and asset money managers access to liquidity in products such as index and single stock options, delta one, variance swaps, and cash. Prior to his experience as a derivatives broker, he was a floor trader and an independent member of the New York Stock Exchange. Throughout his career he has acquired the Series 4, 7, 24, 55, & 63.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.12 8.17