Continue to site >
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

$12.75

$399 M

2.35%

$0.30

1.78%

Vitals

YTD Return

16.5%

1 yr return

11.1%

3 Yr Avg Return

9.9%

5 Yr Avg Return

10.2%

Net Assets

$399 M

Holdings in Top 10

57.6%

52 WEEK LOW AND HIGH

$12.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.78%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 110.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


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

$12.75

$399 M

2.35%

$0.30

1.78%

LOTIX - Profile

Distributions

  • YTD Total Return 16.5%
  • 3 Yr Annualized Total Return 9.9%
  • 5 Yr Annualized Total Return 10.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.85%
DIVIDENDS
  • Dividend Yield 2.4%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    LoCorr Market Trend Fund
  • Fund Family Name
    LoCorr Funds
  • Inception Date
    Jun 30, 2014
  • Shares Outstanding
    33740699
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jon Essen

Fund Description

The Fund seeks to achieve its investment objectives by allocating its assets using two principal strategies:
"Market Trend" Strategy
"Fixed Income" Strategy
The Market Trend strategy is a macro-oriented quantitative strategy that employs various investment techniques to select long and short positions in the global futures and foreign exchange markets. These techniques are designed to produce attractive absolute and risk-adjusted returns while maintaining low correlation to traditional asset classes. The Market Trend strategy is a quantitative trading system driven by trend-following models. The program signals buy and sell orders based on a number of factors, including price, volatility, and length of time a position has been held in the portfolio, and employs sophisticated techniques to gradually enter and exit positions over the course of a trend in order to maximize profit opportunities. It is expected that the average holding period of instruments traded pursuant to the Market Trend strategy will be approximately 50 days; however, that average may differ depending on various factors and the program will make daily adjustments to positions based on both price activity and market volatility. The program trades a broad range of markets, including global interest rates, foreign exchange, global stock indices and commodities. LoCorr Fund Management, LLC, the Fund’s adviser (the “Adviser”), delegates management of the Fund's Market Trend strategy portfolio to a sub-adviser, Graham Capital Management, L.P. ("GCM").
The Fund will execute a portion of its Market Trend strategy by directly investing in the Fund or by investing up to 25% of its total assets (measured at the time of purchase) in a wholly-owned and controlled subsidiary (the "Subsidiary"). The Fund and the Subsidiary will invest the majority of its assets in futures contracts and other investments (short to medium term investment grade securities) intended to serve as margin or collateral for futures positions. The Subsidiary is managed by the Adviser and sub-advised by GCM and is subject to the same investment restrictions as the Fund, when viewed on a consolidated basis.
The Fixed Income strategy is designed to generate interest income and preserve principal by investing primarily in investment grade securities including: (1) obligations issued or guaranteed by the United States Government, its agencies or instrumentalities, (2) securities issued or guaranteed by foreign governments, their political subdivisions or agencies or instrumentalities, (3) bonds, notes, or similar debt obligations issued by U.S. or foreign corporations or special-purpose entities backed by corporate debt obligations, (4) U.S. asset-backed securities ("ABS"), (5) U.S. residential mortgage-backed securities ("MBS"), (6) U.S. commercial mortgage-backed securities ("CMBS"), (7) interest rate-related futures contracts, (8) interest rate-related or credit default swap contracts and (9) money market funds. The Fund defines investment grade fixed income securities as those that are rated, at the time purchased, in the top four categories by a rating agency such as Moody's Investors Service, Inc. ("Moody's") or Standard & Poor's Ratings Services ("S&P"), or, if unrated, determined to be of comparable quality. However, the fixed income portion of the Fund's portfolio will be invested without restriction as to individual issuer country, type of entity, or capitalization. Futures and swap contracts are used for hedging purposes and as substitutes for fixed income securities. The Fund's Adviser delegates management of the Fund's Fixed Income strategy portfolio to a sub-adviser, Nuveen Asset Management, LLC ("Nuveen").
The Adviser anticipates that, based upon its analysis of long-term historical returns and volatility of various asset classes, the Fund will allocate approximately 25% of its assets to the Market Trend strategy and approximately 75% of its assets to the Fixed Income strategy. However, as market conditions change the portion allocated may be higher or lower.
The Fund seeks to achieve its secondary investment objective primarily by (1) diversifying the Market Trend strategy investments among financial instruments that are not expected to have returns that are
highly correlated to each other or the equity markets and (2) by selecting Fixed Income strategy investments that are short-term to medium-term interest income-generating securities (those with maturities or average lives of less than 10 years) that are expected to be less volatile than the equity markets in general and that are not expected to have returns that are highly correlated to the equity markets or the Market Trend strategy.
The Adviser, on behalf of itself and on behalf of the Fund and other Funds it advises or may advise in the future that are each a series of LoCorr Investment Trust, was granted an exemptive order from the U.S. Securities Exchange Commission (the "SEC") that permits the Adviser, with Board of Trustees approval, to enter into or amend sub-advisory agreements with sub-advisers without obtaining shareholder approval. Shareholders will be notified within 90 days of the engagement of an additional sub-adviser or sub-advisers to manage a portion of the Fund's portfolio.
The Fund and the Subsidiary are each a "commodity pool" under the U.S. Commodity Exchange Act and the Adviser is a "commodity pool operator" registered with and regulated by the Commodity Futures Trading Commission ("CFTC"). As a result, additional CFTC-mandated disclosure, reporting and recordkeeping obligations apply with respect to the Fund and the Subsidiary under CFTC and SEC harmonized regulations.
ADVISER'S INVESTMENT PROCESS
The Adviser will pursue the Fund's investment objectives, in part, by utilizing its sub-adviser selection and risk management process.
Sub-adviser Selection. The Adviser selects sub-advisers it believes can successfully execute the Fund's overall investment strategies. The Adviser also monitors and evaluates the performance of the sub-advisers and implements procedures to ensure each sub-adviser complies with the Fund's investment policies and restrictions.
Risk Management. The Adviser manages the expected volatility of the Fund's returns by monitoring the interaction and correlation of the returns between the Market Trend and Fixed Income strategies. Using this risk management process, the Adviser believes the Fund's returns, over time, will not be highly correlated to the equity markets and will provide the potential for reducing volatility in investors' portfolios.
SUB-ADVISERS' INVESTMENT PROCESS
Graham Capital Management, L.P.
GCM executes the Market Trend strategy by employing macro-oriented quantitative investment techniques to select long and short positions in the global futures and foreign exchange markets These techniques are designed to produce attractive absolute and risk-adjusted returns while maintaining low correlation to traditional asset classes. Futures contracts and foreign exchange forward contracts have leverage inherent in their terms as the Fund need only post a margin deposit and does not have to pay the full price of the contract.
The Market Trend strategy is based on a quantitative investment program that has its origins in GCM’s trend-following trading systems, dating as far back as 1995. Such systems generally are based on computerized mathematical models and can rely both on technical (i.e., historic price and volume data) and fundamental (i.e., general economic, interest rate and industrial production data) information as the basis for their trading decisions. GCM’s trend systems are designed to participate selectively in potential profit opportunities that can occur during periods of price trends in a diverse number of U.S. and international markets. The trend systems establish positions in markets where the price action of a particular market signals the computerized systems used by GCM that a potential trend in prices is occurring. The trend systems are designed to analyze, mathematically, the recent trading characteristics of each market and statistically compare such characteristics to the historical trading patterns of the particular market. The trend systems also employ proprietary risk management and trade filter strategies
that seek to benefit from sustained price trends while reducing risk and volatility exposure. Positions are adjusted to reflect changes in prices and trends and to manage risk.
Nuveen Asset Management, LLC
Nuveen executes the Fixed Income strategy by selecting securities using a "top-down" approach that begins with the formulation of its general economic outlook. Following this, various sectors and industries are analyzed and selected for investment. Finally, Nuveen selects individual securities within these sectors or industries that it believes have above peer-group expected yield, potential for capital preservation or appreciation. Nuveen also selects futures and swaps to hedge interest rate and credit risks and as substitutes for securities when it believes derivatives provide a better return profile or when specific securities are temporarily unavailable. Nuveen sells securities and derivatives to adjust interest rate risk, adjust credit risk, when a price target is reached, or when a security's or derivative's price outlook is deteriorating.
Read More

LOTIX - Performance

Return Ranking - Trailing

Period LOTIX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.5% -7.4% 14.6% 39.36%
1 Yr 11.1% -16.1% 36.5% 15.05%
3 Yr 9.9%* -7.9% 13.3% 20.22%
5 Yr 10.2%* -5.3% 10.0% 49.40%
10 Yr N/A* -2.4% 4.3% N/A

* Annualized

Return Ranking - Calendar

Period LOTIX Return Category Return Low Category Return High Rank in Category (%)
2023 -13.2% -16.4% 12.9% 31.18%
2022 10.1% -9.3% 17.5% 3.26%
2021 -2.5% -25.8% 2.2% 77.91%
2020 4.5% -5.1% 21.0% 36.84%
2019 17.0% -20.3% 4.6% 76.06%

Total Return Ranking - Trailing

Period LOTIX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.5% -7.4% 14.6% 38.30%
1 Yr 11.1% -20.3% 36.5% 11.83%
3 Yr 9.9%* -9.0% 11.1% 15.73%
5 Yr 10.2%* -5.7% 8.7% 44.58%
10 Yr N/A* -2.4% 4.3% N/A

* Annualized

Total Return Ranking - Calendar

Period LOTIX Return Category Return Low Category Return High Rank in Category (%)
2023 -11.0% -16.4% 12.9% 31.18%
2022 29.9% -9.3% 17.5% 3.26%
2021 1.0% -20.3% 2.5% 81.40%
2020 4.8% -5.1% 21.0% 43.42%
2019 18.5% -20.3% 6.7% 80.28%

NAV & Total Return History


LOTIX - Holdings

Concentration Analysis

LOTIX Category Low Category High LOTIX % Rank
Net Assets 399 M 2.12 M 1.74 B 38.30%
Number of Holdings 248 3 876 26.60%
Net Assets in Top 10 232 M -100 M 2.04 B 47.87%
Weighting of Top 10 57.56% 20.3% 94.0% 0.72%

Top 10 Holdings

  1. United States Treasury Bill 9.23%
  2. United States Treasury Bill 9.22%
  3. United States Treasury Bill 9.22%
  4. United States Treasury Bill 9.22%
  5. United States Treasury Bill 7.51%
  6. US BANK MMDA - USBGFS 9 4.30%
  7. United States Treasury Note/Bond 3.28%
  8. United States Treasury Note/Bond 2.01%
  9. United States Treasury Note/Bond 1.79%
  10. Federal Home Loan Banks 1.78%

Asset Allocation

Weighting Return Low Return High LOTIX % Rank
Bonds
78.48% -50.36% 717.59% 7.45%
Cash
21.09% -687.11% 117.03% 91.49%
Convertible Bonds
1.65% 0.00% 2.27% 7.45%
Other
0.43% 0.00% 58.63% 90.43%
Stocks
0.00% -1.78% 72.26% 13.83%
Preferred Stocks
0.00% 0.00% 0.13% 27.66%

Bond Sector Breakdown

Weighting Return Low Return High LOTIX % Rank
Government
15.49% 0.00% 82.10% 8.51%
Cash & Equivalents
4.30% 1.07% 100.00% 97.87%
Corporate
3.35% 0.00% 31.20% 24.47%
Securitized
3.13% 0.00% 64.73% 21.28%
Municipal
0.13% 0.00% 6.83% 14.89%
Derivative
-4.07% 0.00% 63.99% 37.23%

Bond Geographic Breakdown

Weighting Return Low Return High LOTIX % Rank
US
78.48% -169.44% 233.08% 58.51%
Non US
0.00% -77.11% 655.95% 7.45%

LOTIX - Expenses

Operational Fees

LOTIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.78% 0.75% 12.88% 62.37%
Management Fee 1.50% 0.65% 2.99% 68.09%
12b-1 Fee 0.00% 0.00% 1.00% 4.92%
Administrative Fee N/A 0.09% 0.45% N/A

Sales Fees

LOTIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

LOTIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 76.84%

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.

LOTIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 110.00% 0.00% 198.00% 87.14%

LOTIX - Distributions

Dividend Yield Analysis

LOTIX Category Low Category High LOTIX % Rank
Dividend Yield 2.35% 0.00% 0.00% 21.28%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

LOTIX Category Low Category High LOTIX % Rank
Net Income Ratio -0.85% -3.14% 1.55% 37.63%

Capital Gain Distribution Analysis

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

Distributions History

View More +

LOTIX - Fund Manager Analysis

Managers

Jon Essen


Start Date

Tenure

Tenure Rank

Jun 30, 2014

7.92

7.9%

Mr. Essen has served as Chief Financial Officer of the Adviser since it was founded in November 2010. Mr. Essen also serves as Senior Vice President and Chief Financial Officer of Octavus Group, LLC, and as a Registered Representative of LoCorr Distributors, LLC, positions both held since April 2008. Mr. Essen also began serving as Principal and Chief Compliance Officer of LoCorr Distributors, LLC in September 2008. Mr. Essen also served as Chief Operating Officer of the Adviser and affiliates from 2008 to 2016. Previously, Mr. Essen served as Chief Operating Officer of a commercial finance enterprise from May 2002 to April 2008. Additionally, Mr. Essen was Chief Financial Officer of Jundt Associates, Inc. from 1998 to 2002.

Kenneth Tropin


Start Date

Tenure

Tenure Rank

Jun 30, 2014

7.92

7.9%

Kenneth G. Tropin is Chairman, Founder and a Principal of Graham Capital Management (“GCM”). In May 1994, he founded GCM and became an Associated Person and Principal effective July 27, 1994. Mr. Tropin developed the firm's original trading programs and is responsible for the overall management of the organization, including the investment of its proprietary trading capital. Mr. Tropin’s current responsibilities at Graham include oversight of the Firm’s quantitative research process and discretionary portfolio managers, Chairman of the Firm’s Management and Investment Committees, and Senior Member of the Firm’s Risk and Compliance Committees. Additionally, Mr. Tropin is responsible for managing the strategic investment of the Firm’s proprietary capital. Prior to founding Graham, Mr. Tropin had significant experience in the alternative investment industry, including 5 years (1989-1993) as President and Chief Executive Officer of John W. Henry & Company, Inc. and 8 years (1981-1989) as Senior Vice President and Director of Managed Futures at Dean Witter Reynolds. Mr. Tropin has also served as Chairman of the Managed Funds Association and its predecessor organization, which he was instrumental in founding during the 1980’s.

Pablo Calderini


Start Date

Tenure

Tenure Rank

Jun 30, 2014

7.92

7.9%

Pablo Calderini is the President and Chief Investment Officer of GCM and, among other things, is responsible for the management and oversight of the discretionary and systematic trading businesses at GCM. He joined GCM in August 2010 and became an Associated Person and Principal of GCM effective August 13, 2010. Prior to joining GCM, Mr. Calderini worked at Deutsche Bank from June 1997 to July 2010 where he held positions of increasing responsibility, most recently the Global Head of Equity Proprietary Trading. Mr. Calderini commenced his career at Deutsche Bank as Global Head of Emerging Markets. During his tenure at Deutsche Bank, Mr. Calderini also helped manage several groups across the fixed income and equity platforms, including the Global Credit Derivatives Team. Mr. Calderini received a B.A. in Economics from Universidad Nacional de Rosario in 1987 and a Masters in Economics from Universidad del Cema in 1988, each in Argentina.

Sean Katof


Start Date

Tenure

Tenure Rank

May 01, 2016

6.08

6.1%

Sean Katof, CFA, has served as Senior Vice President and Portfolio Manager for the Funds since 2016. Prior to joining LoCorr, Mr. Katof served as Director of Capital Markets at SLOCUM, an institutional consulting firm, from 2005 to 2015. Prior to joining SLOCUM, Mr. Katof served as Portfolio Manager at Devenir Investment Advisors where he managed the Industry Leaders Core Equity portfolio from 2004 to 2005. Prior to that, Mr. Katof was a Vice President and Portfolio Manager at INVESCO Funds Group where he worked from 1994 to 2003. Mr. Katof received his B.S. in Business Administration with an emphasis in Finance from the University of Colorado at Boulder and an M.S. in Finance from the University of Colorado at Denver. Mr. Katof holds the Chartered Financial Analyst (“CFA”) and Chartered Alternative Investment Analyst (“CAIA”) designations.

Tony Rodriguez


Start Date

Tenure

Tenure Rank

May 01, 2017

5.08

5.1%

Tony Rodriguez, Portfolio Manager. Mr. Rodriguez joined Nuveen in 2002 and serves as co-head of fixed income. Mr. Rodriguez served as a head of global corporate bonds for Credit Suisse Asset Management and managing director and head of corporate bonds for Prudential Global Asset Management. He received a B.A. in economics from Lafayette College and an M.B.A. in finance from New York University

Peter Agrimson


Start Date

Tenure

Tenure Rank

May 01, 2018

4.08

4.1%

Peter is a portfolio manager for Nuveen’s global fixed income team and the lead portfolio of the Short Duration Multi-Sector strategy and related institutional portfolios. Prior to his current role, he was a member of the securitized debt sector team, responsible for trading mortgage-backed securities, asset-backed securities and commercial mortgage-backed securities. Peter also performed credit analysis and surveillance for the firm’s mortgage backed securities and asset-backed securities portfolios. Before joining the firm in 2008, he served as credit analyst at Long Lake Partners, LLC, where he performed credit analysis for the company’s structured products portfolio. Peter graduated with a B.S. in Finance from Northern Illinois University. He holds the CFA® designation and is a member of the CFA® Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.16 14.09 5.41 5.06