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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

$5.90

$352 M

3.17%

$0.19

1.18%

Vitals

YTD Return

0.2%

1 yr return

-11.8%

3 Yr Avg Return

-3.6%

5 Yr Avg Return

0.0%

Net Assets

$352 M

Holdings in Top 10

58.6%

52 WEEK LOW AND HIGH

$5.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.18%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 198.00%

Redemption Fee 1.50%


Min Investment

Standard (Taxable)

$1,000

IRA

$500


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

$5.90

$352 M

3.17%

$0.19

1.18%

HSGFX - Profile

Distributions

  • YTD Total Return 0.2%
  • 3 Yr Annualized Total Return -3.6%
  • 5 Yr Annualized Total Return 0.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.09%
DIVIDENDS
  • Dividend Yield 3.2%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Hussman Strategic Growth Fund
  • Fund Family Name
    Hussman Funds
  • Inception Date
    Nov 21, 2000
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Hussman

Fund Description

The Fund will typically be fully invested in common stocks favored by Hussman Strategic Advisors, Inc., the Fund’s investment adviser, except for modest cash balances arising in connection with the Fund’s day-to-day operations. When market conditions are unfavorable in the view of the investment adviser, the Fund may use options and index futures, as well as other hedging strategies, to reduce the exposure of the Fund’s stock portfolio to the impact of general market fluctuations. When market conditions are viewed as favorable, in the view of the investment adviser, the Fund may use options to increase its exposure to the impact of general market fluctuations.

In general, the stock selection approach of the investment adviser focuses on securities demonstrating favorable valuations and/or market action. The primary consideration used by the investment adviser in assessing a stock’s valuation is the relationship between its current market price and the present value of estimated expected future cash flows per share. Other valuation measures, such as the current dividend yield, and ratios of stock price to earnings and stock price to revenue, are also analyzed in relation to expected future growth of cash flows in an attempt to measure underlying value and the potential for long-term returns. Additional considerations

include measures of financial stability such as variations in profit margins and balance sheet indicators. The analysis of market action includes measurements of price behavior and trading volume. The investment adviser believes that strength in these measures is often a reflection of improving business prospects and the potential for earnings surprises above consensus estimates, which can result in increases in stock prices.

The investment adviser believes that market return/risk characteristics differ significantly across varying market conditions. The two most important dimensions considered by the investment adviser are “valuation” and “market action.” In the analysis of overall market conditions, valuation considers the relationship of major stock indices to the stream of earnings, dividends and cash flows expected in the future in an attempt to measure the underlying value of stocks and the long-term returns implied by their current market prices. Market action considers the behavior of a wide range of securities and industry groups, in an attempt to assess the economic outlook of investors and their willingness to accept market risk. In addition, the investment adviser evaluates economic conditions, investor sentiment, interest rates, credit-sensitive indicators and other factors in an attempt to classify prevailing market conditions with historically similar instances.

Historically, different combinations of valuation, market action and other factors have been accompanied by significantly different stock market performance in terms of return/risk. The investment adviser expects to intentionally “leverage” or increase the stock market exposure of the Fund in environments where the expected return from market risk is believed to be high, and may reduce or “hedge” the exposure of the Fund’s stock portfolio to the impact of general market fluctuations in environments where the expected return from market risk is believed to be unfavorable.

Specific strategies for “leveraging” or increasing stock market exposure may include buying call options on individual stocks or market indices and writing put options on stocks which the Fund seeks to own. The maximum exposure of the Fund to stocks, either directly through purchases of stock or indirectly through option positions, is not expected to exceed 150% of its net assets. This means that the value of the underlying positions represented by options is not expected to exceed 50% of the value of the Fund’s net assets at the time of investment.

The principal strategies used for reducing or “hedging” market exposure include buying put options on individual stocks or stock indices, writing covered call options on stocks which the Fund owns or call options on stock indices, and establishing short futures positions or option combinations (such as simultaneously writing call options and purchasing put options) on one or more stock indices considered by the investment adviser to be correlated with the Fund’s portfolio. The Fund may use these strategies to hedge up to 100% of the value of the stocks that it owns. However, the Fund may

experience a loss even when the entire value of its stock portfolio is hedged if the returns of the stocks held by the Fund do not exceed the returns of the securities and financial instruments used to hedge, or if the exercise prices of the Fund’s call and put options differ, so that the combined loss on these options during a market advance exceeds the gain on the underlying stock index.

To the extent the Fund establishes leveraged and hedged investment positions as part of its investment program, its investment performance may deviate significantly from the performance of major stock indices for substantial portions of a market cycle. When market conditions are favorable in the view of the investment adviser, the use of options to increase the Fund’s market exposure may amplify the sensitivity of the Fund’s returns to general market fluctuations for meaningful periods of time, and the Fund may experience a net loss of time-value on purchased options. When market conditions are unfavorable in the view of the investment adviser, the Fund may experience limited, zero, or possibly negative correlation with general market fluctuations for meaningful periods of time, and may experience a net loss of time-value on purchased options.

The choice of stock indices and instruments used for hedging is based on a consideration of the securities held in the Fund’s portfolio from time to time, and the availability and liquidity of futures, options and other instruments on such indices. The primary intent of the Fund’s hedging strategy is to reduce the impact of general market fluctuations when stock market conditions generally are viewed by the investment adviser as unfavorable. The Fund generally hedges using indices that are correlated, though perhaps imperfectly, with the stocks owned by the Fund. These may include indices of U.S. stocks such as the Standard & Poor’s 500® Index.

The portion of the Fund’s net assets invested at any given time in securities of issuers engaged in industries within a particular business sector may be affected by valuation considerations and other investment characteristics of that sector. As a result, the Fund’s investments in various business sectors generally will change over time, and a significant allocation to any particular sector does not represent an investment policy or investment strategy to invest in that sector.

There are no restrictions as to the market capitalizations of companies in which the Fund invests. However, the Fund invests primarily in stocks that are listed or trade on the New York Stock Exchange, the American Stock Exchange or the NASDAQ Stock Market. The Fund generally invests in stocks of companies with market capitalizations in excess of $500 million, although it may invest a portion of its assets in the stocks of companies having smaller market capitalizations, which involves certain risks.

Because the S&P 500® Index is perhaps the most widely recognized index of U.S. common stocks, as well as a widely used benchmark for growth-oriented investors, it is believed to be an appropriate broad-based securities market index against which to compare the Fund’s long-term investment performance. However, the Fund may invest in securities that are not included in the S&P 500® Index, and may vary its exposure to market fluctuations depending on the investment adviser’s view of market conditions. As a result, the Fund’s investment returns may differ from the performance of major stock market indices, particularly over the short term.

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HSGFX - Performance

Return Ranking - Trailing

Period HSGFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -10.3% 17.3% 95.32%
1 Yr -11.8% -13.1% 44.0% 98.83%
3 Yr -3.6%* -21.2% 30.6% 91.39%
5 Yr 0.0%* -4.2% 25.2% 92.75%
10 Yr -4.2%* -4.2% 9.9% 100.00%

* Annualized

Return Ranking - Calendar

Period HSGFX Return Category Return Low Category Return High Rank in Category (%)
2023 -14.3% -17.3% 43.8% 98.25%
2022 16.1% -54.0% 17.4% 1.92%
2021 -0.7% -40.0% 54.1% 71.33%
2020 14.3% -47.6% 88.4% 23.61%
2019 -20.3% -20.3% 62.6% 100.00%

Total Return Ranking - Trailing

Period HSGFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -10.3% 17.3% 95.32%
1 Yr -11.8% -13.1% 44.0% 98.83%
3 Yr -3.6%* -21.2% 30.6% 91.39%
5 Yr 0.0%* -4.2% 25.2% 92.75%
10 Yr -4.2%* -4.2% 9.9% 100.00%

* Annualized

Total Return Ranking - Calendar

Period HSGFX Return Category Return Low Category Return High Rank in Category (%)
2023 -10.7% -14.5% 43.8% 98.25%
2022 17.8% -54.0% 50.3% 4.49%
2021 -0.1% -40.0% 61.6% 86.67%
2020 16.6% -29.9% 91.0% 24.31%
2019 -17.9% -17.9% 79.4% 100.00%

NAV & Total Return History


HSGFX - Holdings

Concentration Analysis

HSGFX Category Low Category High HSGFX % Rank
Net Assets 352 M 1.04 M 6.15 B 22.67%
Number of Holdings 198 2 1788 34.91%
Net Assets in Top 10 221 M 474 K 1.98 B 20.71%
Weighting of Top 10 58.58% 0.4% 101.9% 30.18%

Top 10 Holdings

  1. Invesco Treasury Portfolio Institutional Class 44.00%
  2. Alphabet, Inc. Class C 2.76%
  3. Super Micro Computer, Inc. 1.81%
  4. Canadian Solar, Inc. 1.74%
  5. Amazon.com, Inc. 1.61%
  6. Meta Platforms, Inc. Class A 1.41%
  7. Verizon Communications, Inc. 1.40%
  8. PepsiCo, Inc. 1.35%
  9. Russell 2000 Index Option 1.25%
  10. Barrick Gold Corporation 1.25%

Asset Allocation

Weighting Return Low Return High HSGFX % Rank
Stocks
102.24% 0.00% 102.24% 0.59%
Cash
44.00% 0.00% 102.08% 26.04%
Preferred Stocks
0.00% 0.00% 8.72% 55.03%
Convertible Bonds
0.00% -0.02% 4.48% 46.63%
Bonds
0.00% 0.00% 95.60% 60.95%
Other
-45.12% -45.12% 99.51% 100.00%

Stock Sector Breakdown

Weighting Return Low Return High HSGFX % Rank
Healthcare
18.58% 0.00% 100.00% 21.13%
Consumer Cyclical
17.80% 0.00% 88.83% 5.63%
Technology
14.11% 0.00% 43.24% 79.58%
Consumer Defense
13.96% 0.00% 33.38% 8.45%
Financial Services
11.62% 0.00% 83.83% 66.20%
Communication Services
10.89% 0.00% 32.32% 10.56%
Basic Materials
4.63% 0.00% 28.58% 34.51%
Industrials
3.41% 0.00% 31.93% 91.55%
Energy
3.00% 0.00% 32.57% 58.45%
Real Estate
1.53% 0.00% 10.93% 51.41%
Utilities
0.47% 0.00% 21.71% 73.94%

Stock Geographic Breakdown

Weighting Return Low Return High HSGFX % Rank
US
102.24% 0.00% 102.24% 0.59%
Non US
0.00% -3.09% 67.69% 56.80%

HSGFX - Expenses

Operational Fees

HSGFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.18% 0.42% 8.51% 95.35%
Management Fee 0.90% 0.00% 2.50% 23.26%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 1.54% 17.02%

Sales Fees

HSGFX 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

HSGFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.50% 0.50% 2.00% 23.81%

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.

HSGFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 198.00% 0.00% 479.00% 71.11%

HSGFX - Distributions

Dividend Yield Analysis

HSGFX Category Low Category High HSGFX % Rank
Dividend Yield 3.17% 0.00% 26.99% 23.39%

Dividend Distribution Analysis

HSGFX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annual

Net Income Ratio Analysis

HSGFX Category Low Category High HSGFX % Rank
Net Income Ratio 0.09% -3.33% 2.16% 22.35%

Capital Gain Distribution Analysis

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

Distributions History

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HSGFX - Fund Manager Analysis

Managers

John Hussman


Start Date

Tenure

Tenure Rank

Jul 24, 2000

21.87

21.9%

John P. Hussman, Ph.D. is the President of Hussman Strategic Advisors, Inc. From 1992 until 1999, he was an Adjunct Assistant Professor of Economics and International Finance at the University of Michigan and the Michigan Business School. His academic research has focused on financial market efficiency and information economics. He also holds a B.A. in Economics, Phi Beta Kappa, and an M.S. in Education and Social Policy from Northwestern University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 23.55 6.05 7.93