SDCAX: Swan Defined Risk US Small Cap A

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SDCAX Swan Defined Risk US Small Cap A


Profile

SDCAX - Profile

Vitals

  • YTD Return -4.0%
  • 3 Yr Annualized Return 0.8%
  • 5 Yr Annualized Return N/A
  • Net Assets $37 M
  • Holdings in Top 10 N/A

52 WEEK LOW AND HIGH

$11.92
$9.66
$12.58

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.99%

SALES FEES

  • Front Load 5.50%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 22.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA $1,000

Fund Classification


Distributions

  • YTD Total Return -4.0%
  • 3 Yr Annualized Total Return 0.8%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.44%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Swan Defined Risk U.S. Small Cap Fund
  • Fund Family Name
    Swan
  • Inception Date
    Dec 29, 2015
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Randy Swan

Fund Description

The fund seeks to achieve its investment objective by investing directly, or indirectly through ETFs, in: equity securities of domestic small capitalization companies, exchange-traded long-term put options on U.S. exchanges for hedging purposes, and buying and selling exchange-traded put and call options on various ETFs, securities and equity indices to generate additional returns.


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Categories

Performance

SDCAX - Performance

Return Ranking - Trailing

Period SDCAX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.0% -87.6% 170.8% 55.49%
1 Yr -0.2% -89.2% 148.2% 39.94%
3 Yr 0.8%* -56.3% 33.8% 35.66%
5 Yr N/A* -43.8% 33.6% N/A
10 Yr N/A* -13.3% 34.2% N/A

* Annualized

Return Ranking - Calendar

Period SDCAX Return Category Return Low Category Return High Rank in Category (%)
2019 14.0% -24.2% 71.9% 34.67%
2018 -10.2% -37.0% 12.7% 33.07%
2017 7.9% -25.3% 59.5% 45.49%
2016 12.7% -15.5% 42.5% 23.50%
2015 N/A -65.1% 11.8% N/A

Total Return Ranking - Trailing

Period SDCAX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.0% -87.6% 170.8% 55.49%
1 Yr -0.2% -89.2% 148.2% 39.94%
3 Yr 0.8%* -56.3% 39.2% 44.67%
5 Yr N/A* -43.8% 36.8% N/A
10 Yr N/A* -13.3% 35.9% N/A

* Annualized

Total Return Ranking - Calendar

Period SDCAX Return Category Return Low Category Return High Rank in Category (%)
2019 14.0% -22.9% 71.9% 34.67%
2018 -10.2% -37.0% 12.7% 43.97%
2017 7.9% -25.3% 68.6% 56.65%
2016 12.7% -15.5% 42.5% 40.55%
2015 N/A -65.1% 11.8% N/A

NAV & Total Return History


Holdings

SDCAX - Holdings

Concentration Analysis

SDCAX Category Low Category High SDCAX % Rank
Net Assets 37 M 105 K 10.6 B 68.11%
Number of Holdings 14 4 1562 84.52%
Net Assets in Top 10 36.5 M -81.1 M 3.11 B 56.04%
Weighting of Top 10 N/A 14.6% 238.7% 4.72%

Top 10 Holdings

  1. iShares Russell 2000 ETF 84.97%
  2. Option on Russell 2000 Index Dec21 13.28%
  3. Dreyfus Treasury Obligations Csh Mgt Ins 1.08%
  4. Option on Russell 2000 Index Oct20 0.37%
  5. Option on Russell 2000 Index Aug20 0.26%
  6. Option on Russell 2000 Index Oct20 0.20%
  7. Option on Russell 2000 Index Oct20 0.09%
  8. Option on Russell 2000 Index Oct20 0.08%
  9. Option on Russell 2000 Index Aug20 0.02%
  10. Option on Russell 2000 Index Jul20 0.02%

Asset Allocation

Weighting Return Low Return High SDCAX % Rank
Stocks
98.02% 81.39% 325.56% 44.58%
Cash
1.98% -225.56% 20.91% 46.44%
Preferred Stocks
0.00% 0.00% 5.07% 88.54%
Other
0.00% -19.11% 121.77% 80.50%
Convertible Bonds
0.00% 0.00% 15.68% 87.93%
Bonds
0.00% -43.96% 55.72% 87.00%

Stock Sector Breakdown

Weighting Return Low Return High SDCAX % Rank
Healthcare
20.69% 0.00% 98.20% 7.69%
Industrials
15.37% 0.00% 46.89% 10.37%
Financial Services
14.89% 0.00% 35.62% 15.38%
Technology
13.94% 0.00% 52.21% 56.86%
Consumer Cyclical
10.58% 0.00% 37.65% 45.15%
Real Estate
8.38% 0.00% 97.46% 2.34%
Consumer Defense
4.00% 0.00% 21.72% 60.87%
Basic Materials
3.70% 0.00% 16.01% 19.06%
Utilities
3.54% 0.00% 64.20% 30.77%
Communication Services
2.72% 0.00% 24.68% 63.88%
Energy
2.20% 0.00% 100.00% 73.58%

Stock Geographic Breakdown

Weighting Return Low Return High SDCAX % Rank
US
97.26% 80.07% 325.56% 34.37%
Non US
0.76% -3.46% 39.93% 69.04%

Expenses

SDCAX - Expenses

Operational Fees

SDCAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.99% 0.35% 37.17% 42.77%
Management Fee 1.00% 0.00% 2.64% 67.80%
12b-1 Fee 0.25% 0.00% 1.00% 58.55%
Administrative Fee N/A 0.05% 0.45% N/A

Sales Fees

SDCAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.50% 2.00% 5.75% 67.61%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

SDCAX 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.

SDCAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 22.00% 0.00% 5191.00% 26.21%

Distributions

SDCAX - Distributions

Dividend Yield Analysis

SDCAX Category Low Category High SDCAX % Rank
Dividend Yield 0.00% 0.00% 23.21% 89.47%

Dividend Distribution Analysis

SDCAX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

SDCAX Category Low Category High SDCAX % Rank
Net Income Ratio -0.44% -3.05% 14.24% 70.85%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

SDCAX - Fund Manager Analysis

Managers

Randy Swan


Start Date

Tenure

Tenure Rank

Dec 29, 2015

4.68

4.7%

Randy Swan, President, is the founder of Swan Capital Management, LLC and Swan Global Management, LLC. Oversees the team that runs all of the firm's investment activities. Before starting the Sub-Adviser in 2014, the Adviser in 2012 and Swan Global Investments, LLC in 1997, Randy was a KPMG senior manager working in their Financial Services Group, primarily with insurance companies and risk managers. It was here where Randy conceived Swan’s investment strategy of using the options market to manage portfolio risk, similar to how the insurance companies were managing their insurance portfolios.

Robert Swan


Start Date

Tenure

Tenure Rank

Nov 01, 2016

3.83

3.8%

Rob manages and implements the Swan Defined Risk Strategy as a Portfolio Manager, including investment management and trading as well as development and maintenance of proprietary technology, enabling Swan to scale and execute the DRS across multiple platforms and thousands of accounts. He also provides daily oversight of Swan operations as COO. Prior to joining Swan, Rob’s previous positions have ranged from flight-test engineering and computer aided design software development at the Boeing Company, to director of operations and part owner of Object Publisher Web Services, the leading web service automation provider for custom brochure and catalog publishing. His analytical, technical, and computing skills have been developed and applied since 1988 in production software development, computer automation, process design and standardization, business and technical process modeling, and aerodynamics engineering.

Christopher Hausman


Start Date

Tenure

Tenure Rank

Nov 02, 2018

1.83

1.8%

Chris is the Director of Risk Management and Chief Market Technician at Swan and assists in the daily operations and trading for all Defined Risk Strategy investments and positions. Before joining Swan, Chris started his career as an investment banking analyst before transitioning to the trading pits of Chicago. In 1996, Chris became a market-maker for Wolverine Trading, LLC where he worked on the floor of the Chicago Mercantile Exchange, trading options on the S&P 500 futures index, and on the Pacific Stock Exchange, trading options on Microsoft. In April 1999 as Senior Trader, Chris joined an options broker-dealer (STC, LLC) founded and managed by Anthony Saliba. During that same period, he also served as lead instructor for the International Trading Institute Ltd., teaching option strategies and risk management techniques to market makers and traders from around the world. In January 2002, Chris joined CAZ Investments in Houston, TX, where he held the position of Senior Vice President. He re-joined Mr. Saliba in a new venture, Saliba Portfolio Management, as Senior Portfolio Manager and Chief Portfolio Strategist in January 2004 and ultimately became the Director of Trading Operations in January 2011.

Micah Wakefield


Start Date

Tenure

Tenure Rank

Nov 02, 2018

1.83

1.8%

Micah’s responsibilities include research and analysis, strategic planning, project management, publishing white papers, and the development and roll out of new Swan DRS products. He has an extensive track record in portfolio management, trading, analysis, and business management. Prior to joining Swan, Micah spent over five years as a director and advisor at a financial advisory firm. He also has more than eleven years of management experience.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 25.02 6.12 10.43