Continue to site >
Trending ETFs

Sierra Tactical Core Income Fund

mutual fund
SSIZX
Payout Change
Pending
Price as of:
$20.0 -0.03 -0.15%
primary theme
Bond Sector Diversified
SSIZX (Mutual Fund)

Sierra Tactical Core Income Fund

Payout Change
Pending
Price as of:
$20.0 -0.03 -0.15%
primary theme
Bond Sector Diversified
SSIZX (Mutual Fund)

Sierra Tactical Core Income Fund

Payout Change
Pending
Price as of:
$20.0 -0.03 -0.15%
primary theme
Bond Sector Diversified

Name

As of 06/14/2024

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

$20.00

$1.56 B

4.59%

$0.92

1.72%

Vitals

YTD Return

1.2%

1 yr return

5.7%

3 Yr Avg Return

-0.7%

5 Yr Avg Return

1.4%

Net Assets

$1.56 B

Holdings in Top 10

60.5%

52 WEEK LOW AND HIGH

$20.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.72%

SALES FEES

Front Load 3.75%

Deferred Load N/A

TRADING FEES

Turnover 117.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$10,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

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

$20.00

$1.56 B

4.59%

$0.92

1.72%

SSIZX - Profile

Distributions

  • YTD Total Return 1.2%
  • 3 Yr Annualized Total Return -0.7%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.65%
DIVIDENDS
  • Dividend Yield 4.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Sierra Tactical Core Income Fund
  • Fund Family Name
    Navigator Funds
  • Inception Date
    Dec 21, 2011
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Kenneth Sleeper

Fund Description

To access a wide variety of underlying asset classes and special strategies of unaffiliated mutual funds, the Sierra Tactical Core Income Fund invests in (1) open-end investment companies (mutual funds) and (2) exchange-traded funds (“ETFs”) (collectively, “Underlying Funds”). The Adviser seeks to achieve the Fund’s investment objectives by investing primarily in Underlying Funds that in turn invest in a wide variety of fixed-income instruments of any maturity, including domestic and foreign bonds, some of which are hedged against currency risk, funds that are designed to have returns that are inverse to the 10-year U.S. Treasury note or the 30-year U.S. Treasury bond, as well as real estate investment trusts (“REITs”) and other income-generating underlying assets. The Fund invests in Underlying Funds without restriction as to issuer credit quality (including “high yield”), capitalization, country or the individual security maturity of the securities held by the Underlying Funds. The Fund defines high yield securities, as fixed-income securities rated below investment grade (rated BB+ or lower by S&P or comparably rated by another nationally recognized statistical rating organization (NRSRO).

Among the types of underlying instruments in which this Fund will invest, through Underlying Funds, are the following:

Ultra-short-term bonds
U.S. government bonds and agency instruments
Floating rate instruments
Municipal bonds
High-yield corporate bonds
High-grade corporate bonds
Bonds of emerging market countries
Bonds of European countries
REIT common and preferred stocks
Master-Limited partnerships (“MLPs”)
Mutual funds that have their own special strategies, such as combining asset classes and tactical strategies

On occasion, a portion of the Fund’s portfolio may be hedged with positions that move inversely to the U.S. Treasury 10-year U.S. Treasury note and/or the 30-year Treasury bond to improve returns when the interest-rate environment is moving adversely to long positions in the major bond markets (that is, when interest rates are in a rising trend) or to hedge other positions, and/or positions that hedge currency risk. Additionally, on occasion, the Fund will use Underlying Funds that are moderately leveraged, although the portfolio as a whole will not use leverage extensively, since one of the goals of the Fund is to limit downside volatility.

The Adviser’s investment strategy is a tactical style that includes analysis and use of a wide variety of income-producing investment categories, such as fixed-income securities and dividend-paying REITs of issuers from various markets and industries (“Asset Classes”) in an effort to limit overall volatility and downside risk as well as to seek opportunities to enhance return through income and capital appreciation (total return). The current yield of the Fund is not a separate goal, and the monthly dividend yield will fluctuate significantly given the Fund’s tactical approach of seeking various bond categories from time to time that the Adviser’s portfolio managers feel will contribute to total return.

The Adviser constructs the Fund’s portfolio in the following manner: First, the Adviser identifies income-producing Asset Classes that it believes will respond differently to a variety of economic forces and identifies those Asset Classes that are currently in a rising trend. Second, the Adviser identifies diversified Underlying Funds through which the Fund can participate in each chosen Asset Class. Third, within many Asset Classes, the Adviser attempts to identify Underlying Funds with managers whose history demonstrates an ability to add positive Alpha (above-peer-group-average total return after adjusting for volatility). Where available, the Fund invests in institutional share classes (those with the lowest internal expenses) for those Underlying Funds.

The Adviser does not employ a passive “buy and hold” strategy. As part of its integrated risk-management disciplines, the Adviser monitors each Fund holding daily and applies a trailing stop discipline (a form of sell signal) to each Underlying Fund in the Fund’s portfolio. The Adviser employs a trailing stop discipline which adjusts the sell signal level up as the price of a holding rises and is calculated as a percentage or dollar amount below the market price. When the price of a holding decreases by a certain percentage or dollar amount, the Adviser sells the holding in an attempt to protect profits and minimize further impact on the portfolio. A trailing stop discipline is a type of stop calculation managed by the Adviser that rises each day as the price of the underlying security rises, and thus “trails” the price movement. When any Underlying Fund declines in price enough to generate a “Sell signal” the Adviser either sells the Underlying Fund or hedges by purchasing an inverse Underlying Fund.

The Buy and Sell disciplines are not designed to attempt to buy at lows or to sell at highs, but to seek to participate in a substantial part of any sustained uptrend in a selected asset class, as well as to step aside during most of any sustained downtrend. The Adviser employs a “reactive” approach meaning it reacts with discipline to actual reversals in price trends, as distinct from a “predictive” approach to market movements. The Adviser does not consider its approach to be a “trading” style in terms of frequency, and does not expect to average more than two sell signals per year in each Asset Class.

The overall asset allocation of the Fund is not fixed. It can and does change significantly over time as the Adviser decides to re-allocate portions of the portfolio in response to trend changes in the U.S. and global economy and in various fixed income investment markets using the tactical style described above.

Read More

SSIZX - Performance

Return Ranking - Trailing

Period SSIZX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -7.7% 410.0% 78.33%
1 Yr 5.7% -11.0% 435.7% 72.27%
3 Yr -0.7%* -18.2% 72.1% 70.68%
5 Yr 1.4%* -13.9% 43.6% 66.24%
10 Yr 2.1%* -13.8% 6.5% 55.27%

* Annualized

Return Ranking - Calendar

Period SSIZX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.2% -12.0% 15.7% 87.01%
2022 -6.6% -31.8% 18.4% 17.03%
2021 -2.3% -26.6% 25.7% 66.40%
2020 2.3% -49.2% 18.7% 44.97%
2019 4.8% -35.1% 15.3% 45.97%

Total Return Ranking - Trailing

Period SSIZX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -7.7% 410.0% 78.33%
1 Yr 5.7% -11.0% 435.7% 72.27%
3 Yr -0.7%* -18.2% 72.1% 70.68%
5 Yr 1.4%* -13.9% 43.6% 66.24%
10 Yr 2.1%* -13.8% 6.5% 55.27%

* Annualized

Total Return Ranking - Calendar

Period SSIZX Return Category Return Low Category Return High Rank in Category (%)
2023 3.7% -7.0% 22.2% 89.43%
2022 -5.3% -31.8% 21.1% 26.63%
2021 -0.2% -13.5% 49.9% 80.48%
2020 4.7% -28.6% 24.1% 57.81%
2019 8.0% -4.8% 19.1% 57.60%

NAV & Total Return History


SSIZX - Holdings

Concentration Analysis

SSIZX Category Low Category High SSIZX % Rank
Net Assets 1.56 B 2.53 M 143 B 33.64%
Number of Holdings 89 2 9868 83.54%
Net Assets in Top 10 943 M -204 M 70.2 B 20.12%
Weighting of Top 10 60.47% 5.1% 271.9% 19.20%

Top 10 Holdings

  1. PIMCO-INCOME-INS 11.61%
  2. PIMCO-T/R-INS 8.80%
  3. SPDR BLOOMBERG H 7.92%
  4. NVN-H/Y MUN-I 7.26%
  5. BLKR-STR INC-INS 5.85%
  6. PIMCO-IN B $-INS 4.82%
  7. ISHARES IBOXX IN 3.96%
  8. BLKR-SYS M/S-INS 3.70%
  9. PIMCO-I/G CR-INS 3.48%
  10. MW-T/R BND-I 3.07%

Asset Allocation

Weighting Return Low Return High SSIZX % Rank
Stocks
99.58% -4.18% 99.84% 1.52%
Cash
0.42% -94.66% 100.00% 86.28%
Convertible Bonds
0.10% 0.00% 33.50% 81.22%
Preferred Stocks
0.00% 0.00% 28.28% 85.67%
Other
0.00% -66.66% 153.75% 86.89%
Bonds
0.00% 0.00% 215.76% 97.26%

Stock Sector Breakdown

Weighting Return Low Return High SSIZX % Rank
Energy
97.30% 0.00% 100.00% 12.39%
Utilities
2.30% 0.00% 100.00% 32.39%
Industrials
0.30% 0.00% 100.00% 47.04%
Basic Materials
0.10% 0.00% 100.00% 38.87%
Technology
0.00% 0.00% 28.30% 85.92%
Real Estate
0.00% 0.00% 100.00% 84.51%
Healthcare
0.00% 0.00% 18.60% 84.79%
Financial Services
0.00% 0.00% 100.00% 88.17%
Communication Services
0.00% 0.00% 100.00% 89.30%
Consumer Defense
0.00% 0.00% 99.97% 84.51%
Consumer Cyclical
0.00% 0.00% 89.95% 87.04%

Stock Geographic Breakdown

Weighting Return Low Return High SSIZX % Rank
US
99.58% -4.11% 99.84% 1.52%
Non US
0.00% -0.07% 17.73% 77.74%

SSIZX - Expenses

Operational Fees

SSIZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.72% 0.03% 20.67% 27.66%
Management Fee 0.75% 0.00% 2.29% 71.56%
12b-1 Fee 0.40% 0.00% 1.00% 59.89%
Administrative Fee N/A 0.00% 0.70% 39.46%

Sales Fees

SSIZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.75% 0.00% 5.75% 66.67%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

SSIZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

SSIZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 117.00% 0.00% 632.00% 71.64%

SSIZX - Distributions

Dividend Yield Analysis

SSIZX Category Low Category High SSIZX % Rank
Dividend Yield 4.59% 0.00% 23.30% 71.15%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

SSIZX Category Low Category High SSIZX % Rank
Net Income Ratio 2.65% -1.55% 11.51% 60.22%

Capital Gain Distribution Analysis

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

Distributions History

View More +

SSIZX - Fund Manager Analysis

Managers

Kenneth Sleeper


Start Date

Tenure

Tenure Rank

Dec 27, 2011

10.43

10.4%

Dr. Kenneth L. Sleeper, MBA, PhD is Co-Founder, Managing Director, and Co-Portfolio Manager at Sierra Investment Management, the parent company of the Sierra Mutual Funds and Ocean Park Asset Management and has over 31 years of industry experience. He jointly oversees all aspects of the organization’s activities, including asset management, research, and client relationships. With an extensive background in statistical and computer applications, Ken previously focused on advanced risk management, developing and refining computerized techniques for reducing downside risk, before co-founding Sierra in 1987 with David C. Wright. Kenneth earned MBA and PhD degrees from the University of Southern California.

David Wright


Start Date

Tenure

Tenure Rank

Dec 27, 2011

10.43

10.4%

David C. Wright, JD, is Co-Founder, Managing Director, and Co-Portfolio Manager at Sierra Investment Management, the parent company of the Sierra Mutual Funds and Ocean Park Asset Management and has over 31 years of industry experience. He jointly oversees all aspects of the organization’s activities, including portfolio management, research, and client relationships. After 13 years with major Los Angeles law firms, Dave served several years as Director of Technical Research for Bateman Eichler, Hill Richards, Inc., then the largest investment banking firm west of Chicago, before co-founding Sierra in 1987 with Dr. Kenneth L. Sleeper. David earned a JD from University of Chicago and a BS, Civil Engineering, from Swarthmore College. Mr. Wright has served on the Board of the Los Angeles Chapter of AAII since 1984. He has often spoken for AAII and other investor groups, as well as several other professional organizations. Mr. Wright has also been quoted in the national press, such as in Mutual Funds magazine, and on television and radio.

Douglas Loeffler


Start Date

Tenure

Tenure Rank

Jan 28, 2022

0.34

0.3%

Doug oversees the operations of the Investment Management team and related trading, contributes to portfolio decisions, and supervises analytic research. Doug earned a BA in Economics at Washington State University and an MBA from the University of Chicago Booth School of Business. He is a CFA and CAIA charterholder. Doug has been active in investment management full-time since 1988.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19