HRSAX: Rational Tactical Return A

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HRSAX Rational Tactical Return A


Profile

HRSAX - Profile

Vitals

  • YTD Return 1.8%
  • 3 Yr Annualized Return 8.0%
  • 5 Yr Annualized Return N/A
  • Net Assets $176 M
  • Holdings in Top 10 30.0%

52 WEEK LOW AND HIGH

$5.80
$5.64
$5.86

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.51%

SALES FEES

  • Front Load 4.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 0.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Options-based

Distributions

  • YTD Total Return 1.8%
  • 3 Yr Annualized Total Return 10.0%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.31%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Rational Tactical Return Fund
  • Fund Family Name
    Rational Funds
  • Inception Date
    May 01, 2007
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Scott Kimple

Fund Description

The fund invests primarily in long and short call and put options on futures contracts on the Standard & Poor's 500 Index, and in cash, and cash equivalents. It achieves its investment objective in three ways: (1) Premium Collection - the fund collects premiums on options it sells; (2) Volatility Trading - the fund may enter into positions designed to hedge or profit from either an increase or a decrease in index volatility; and (3) Trend following - the fund may increase or decrease the balance of puts and calls based on trending market direction.


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Categories

HRSAX - Mutual Fund Categories


Performance

HRSAX - Performance

Return Ranking - Trailing

Period HRSAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -46.2% 28.9% 5.25%
1 Yr 3.0% -56.3% 41.1% 16.19%
3 Yr 8.0%* -38.8% 14.5% 1.15%
5 Yr N/A* -35.4% 9.5% 49.54%
10 Yr N/A* -37.0% 11.1% 71.54%

* Annualized

Return Ranking - Calendar

Period HRSAX Return Category Return Low Category Return High Rank in Category (%)
2019 4.6% -50.4% 46.8% 89.06%
2018 8.1% -31.8% 11.7% 0.55%
2017 -1.8% -44.7% 46.3% 96.10%
2016 N/A -29.9% 420.6% N/A
2015 N/A -57.4% 14.6% N/A

Total Return Ranking - Trailing

Period HRSAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -46.2% 28.9% 5.25%
1 Yr 3.0% -56.3% 41.1% 16.51%
3 Yr 10.0%* -38.8% 14.5% 1.04%
5 Yr N/A* -35.4% 9.5% 87.15%
10 Yr N/A* -37.0% 11.2% 90.78%

* Annualized

Total Return Ranking - Calendar

Period HRSAX Return Category Return Low Category Return High Rank in Category (%)
2019 4.6% -50.4% 46.8% 89.06%
2018 8.1% -27.6% 11.7% 0.55%
2017 3.6% -44.7% 46.3% 89.01%
2016 N/A -29.9% 420.6% N/A
2015 N/A -57.4% 14.6% N/A

NAV & Total Return History


Holdings

HRSAX - Holdings

Concentration Analysis

HRSAX Category Low Category High HRSAX % Rank
Net Assets 176 M 100 K 153 B 61.61%
Number of Holdings 11 2 13456 90.24%
Net Assets in Top 10 49.8 M -35.2 M 27.1 B 67.29%
Weighting of Top 10 29.99% 5.5% 100.0% 58.89%

Top 10 Holdings

  1. United States Treasury Bills 0% 11.98%
  2. United States Treasury Bills 0% 9.00%
  3. United States Treasury Bills 0% 8.99%
  4. S&P 500 Put Mar20 0.01%
  5. S&P 500 Put Mar20 0.00%

Asset Allocation

Weighting Return Low Return High HRSAX % Rank
Cash
70.04% -120.83% 149.68% 1.04%
Bonds
29.97% -7.02% 80.79% 80.27%
Preferred Stocks
0.00% 0.00% 36.61% 89.10%
Other
0.00% -4.42% 167.50% 83.59%
Convertible Bonds
0.00% -0.67% 52.57% 91.80%
Stocks
-0.02% -113.74% 77.36% 98.44%

Bond Sector Breakdown

Weighting Return Low Return High HRSAX % Rank
Cash & Equivalents
70.06% -3.87% 100.00% 2.28%
Government
29.94% 0.00% 90.31% 29.80%
Derivative
0.00% 0.00% 69.90% 81.62%
Securitized
0.00% 0.00% 85.82% 92.32%
Corporate
0.00% 0.00% 100.00% 98.34%
Municipal
0.00% 0.00% 99.50% 80.58%

Bond Geographic Breakdown

Weighting Return Low Return High HRSAX % Rank
US
29.97% -8.49% 88.92% 71.34%
Non US
0.00% -14.78% 29.41% 93.56%

Expenses

HRSAX - Expenses

Operational Fees

HRSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.51% 0.01% 7.41% 7.43%
Management Fee 1.75% 0.00% 2.00% 98.96%
12b-1 Fee 0.25% 0.00% 1.00% 45.62%
Administrative Fee N/A 0.01% 0.83% N/A

Sales Fees

HRSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.75% 1.00% 5.75% 68.00%
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

HRSAX 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.

HRSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 0.00% 0.00% 574.00% 1.85%

Distributions

HRSAX - Distributions

Dividend Yield Analysis

HRSAX Category Low Category High HRSAX % Rank
Dividend Yield 0.00% 0.00% 10.53% 69.89%

Dividend Distribution Analysis

HRSAX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Monthly Annually

Net Income Ratio Analysis

HRSAX Category Low Category High HRSAX % Rank
Net Income Ratio -0.31% -49.00% 6.65% 97.17%

Capital Gain Distribution Analysis

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

Dividend Payout History

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Fund Manager Analysis

HRSAX - Fund Manager Analysis

Managers

Scott Kimple


Start Date

Tenure

Tenure Rank

Dec 02, 2017

2.41

2.4%

Mark Adams


Start Date

Tenure

Tenure Rank

Dec 02, 2017

2.41

2.4%

Mark W. Adams has been the Assistant Portfolio Manager to Warrington GP, LLC an affiliate of Warrington Asset Management LLC since 2015. From 2009 to 2014, Mr. Adams was employed by Morgan Stanley Smith Barney LLC (“MSSB”) and was registered with the NFA as an Associated Person of MSSB. Mr. Adams graduated from Washington University in St. Louis where he received a BBA with a triple major in Finance, Management and International Business. He also received an MBA from Southern Methodist University’s Cox School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 39.35 6.95 0.33