Ocean Park Tactical Bond Fund
Name
As of 06/02/2026Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.2%
1 yr return
5.9%
3 Yr Avg Return
4.5%
5 Yr Avg Return
2.1%
Net Assets
$1.43 B
Holdings in Top 10
93.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.61%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 57.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$10,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 06/02/2026Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
STBJX - Profile
Distributions
- YTD Total Return 1.2%
- 3 Yr Annualized Total Return 4.5%
- 5 Yr Annualized Total Return 2.1%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 3.26%
- Dividend Yield 5.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameOcean Park Tactical Bond Fund
-
Fund Family NameNavigator Funds
-
Inception DateOct 01, 2019
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerKenneth Sleeper
Fund Description
The Fund utilizes a fund of funds structure to access a wide variety of underlying asset classes and strategies. Ocean Park Asset Management, LLC (the Adviser) seeks to achieve the Funds investment objectives by investing in mutual funds and exchange-traded funds (ETFs) (collectively Underlying Funds). The Adviser constructs the Funds broadly-diversified investment portfolio by investing at various times in a wide range of Underlying Funds that invest in various security and investment categories (each an Asset Class).
The Fund primarily invest in high-yield corporate bonds or long-duration U.S. Treasury securities (Treasury Bond Funds). For the purposes of this Prospectus, HYCB Funds and Treasury Bond Funds are collectively referred to as Underlying Bond Funds. The Fund defines high yield securities, also known as junk bonds, as fixed-income securities rated below investment grade and whose issuers generally have a non-investment grade rating or are not rated.
Under normal circumstances, the Fund invests at least 80% of its net assets (defined as net assets plus the amount of any borrowing for investment purposes) in Underlying Bond Funds. The Adviser expects the Fund to be at least 80% invested in HYCB Funds under most market conditions. The Fund does not have maturity or duration limitations with respect to the holdings of the Underlying Bond Funds in which it invests.
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.
The Adviser constructs the Funds portfolio by quantitatively analyzing Underlying Bond Funds to identify those that exhibit the most attractive positive trends and have been given a buy signal under the Advisers proprietary investment process.
The Adviser does not employ a buy and hold strategy. As part of its integrated risk-management disciplines, the Adviser monitors each Underlying Bond Fund holding daily and applies a trailing stop discipline (a form of sell signal) to each Underlying Bond Fund within the Funds portfolio. The Adviser employs a trailing stop discipline which adjusts the sell signal level as the price of a holding rises and is calculated as a percentage or dollar amount below the market price.
When any Underlying Bond Fund holding declines in price enough to generate a sell signal under the Advisers trailing-stop discipline, the Fund will sell that Underlying Bond Fund and will invest the proceeds in Treasuries, directly or through mutual funds and ETFs, or money-market mutual funds and/or ultra-short-term bond funds. Conversely, when prices of Underlying Bond Funds begin trending upward sufficient to give buy signals, the Adviser will sell part or all of its holdings in Treasuries and select and purchase one or more Underlying Bond Funds.
The same type of buy and sell disciplines are also applied to Treasuries. If price movements have generated sell signals, the proceeds will temporarily be held in cash (money-market mutual funds and/or ultra-short-term bond mutual funds or ETFs) until price movements of either Underlying Bond Funds or Treasuries trigger buy signals.
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 the equity market as well as to limit participation in any sustained downtrend. When invested in Treasuries, the Fund also seeks to participate in a substantial part of any sustained uptrend in the Treasury bond market. The Adviser employs a reactive approach as distinct from a predictive approach. 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 Underlying Fund.
The Adviser may engage in frequent buying and selling of portfolio securities to achieve the Funds investment objectives.
The Fund may engage in securities lending.
STBJX - Performance
Return Ranking - Trailing
| Period | STBJX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.2% | -7.0% | 6.4% | 40.54% |
| 1 Yr | 5.9% | -11.7% | 19.2% | 50.96% |
| 3 Yr | 4.5%* | -6.0% | 14.9% | 90.22% |
| 5 Yr | 2.1%* | -8.0% | 12.2% | 68.74% |
| 10 Yr | N/A* | -1.0% | 11.3% | N/A |
* Annualized
Return Ranking - Calendar
| Period | STBJX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2025 | -5.1% | -21.9% | 12.9% | 98.08% |
| 2024 | 1.0% | -17.6% | 5.4% | 31.63% |
| 2023 | 2.0% | -12.0% | 8.9% | 63.26% |
| 2022 | -5.6% | -31.8% | 18.4% | 9.34% |
| 2021 | -1.6% | -16.2% | 25.7% | 52.46% |
Total Return Ranking - Trailing
| Period | STBJX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.2% | -7.0% | 6.4% | 40.54% |
| 1 Yr | 5.9% | -11.7% | 19.2% | 50.96% |
| 3 Yr | 4.5%* | -6.0% | 14.9% | 90.22% |
| 5 Yr | 2.1%* | -8.0% | 12.2% | 68.74% |
| 10 Yr | N/A* | -1.0% | 11.3% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | STBJX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2025 | 0.2% | -9.2% | 20.9% | 98.56% |
| 2024 | 6.8% | -11.7% | 18.6% | 42.17% |
| 2023 | 7.2% | -6.5% | 22.2% | 65.97% |
| 2022 | -4.1% | -23.0% | 21.1% | 21.97% |
| 2021 | 1.4% | -7.8% | 49.9% | 64.86% |
NAV & Total Return History
STBJX - Holdings
Concentration Analysis
| STBJX | Category Low | Category High | STBJX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.43 B | 2.65 M | 226 B | 43.42% |
| Number of Holdings | 29 | 4 | 10796 | 92.26% |
| Net Assets in Top 10 | 1.36 B | -204 M | 91.6 B | 15.65% |
| Weighting of Top 10 | 93.88% | 5.1% | 105.1% | 6.99% |
Top 10 Holdings
- BLKR-HI YLD-INS 31.44%
- ISHARES BROAD US 17.86%
- ISHARES IBOXX HI 14.66%
- SPDR BLOOMBERG H 12.58%
- SPDR PORT HY BD 6.03%
- PGIM-HI YLD-Z 2.99%
- XTRACKERS USD HI 2.88%
- OSTERWEISS ST-IN 2.49%
- ISHARES 0-5 HY C 1.51%
- EV-INC FD B-INS 1.45%
Asset Allocation
| Weighting | Return Low | Return High | STBJX % Rank | |
|---|---|---|---|---|
| Stocks | 99.54% | -7.68% | 100.00% | 0.65% |
| Cash | 0.84% | -94.66% | 98.41% | 83.39% |
| Convertible Bonds | 0.21% | 0.00% | 33.50% | 75.12% |
| Preferred Stocks | 0.00% | 0.00% | 12.59% | 95.48% |
| Other | 0.00% | -37.46% | 104.06% | 89.03% |
| Bonds | -0.39% | -5.04% | 180.51% | 99.35% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | STBJX % Rank | |
|---|---|---|---|---|
| Energy | 44.10% | 0.00% | 100.00% | 29.18% |
| Real Estate | 18.93% | 0.00% | 100.00% | 15.50% |
| Basic Materials | 13.36% | 0.00% | 47.39% | 6.69% |
| Technology | 10.68% | 0.00% | 28.30% | 20.36% |
| Healthcare | 4.37% | 0.00% | 18.60% | 20.36% |
| Communication Services | 3.45% | 0.00% | 100.00% | 29.79% |
| Consumer Cyclical | 2.83% | 0.00% | 33.03% | 29.48% |
| Industrials | 2.16% | 0.00% | 100.00% | 41.34% |
| Consumer Defense | 0.10% | 0.00% | 99.97% | 34.35% |
| Utilities | 0.02% | 0.00% | 100.00% | 49.85% |
| Financial Services | 0.00% | 0.00% | 100.00% | 98.18% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | STBJX % Rank | |
|---|---|---|---|---|
| US | 99.54% | -7.68% | 100.00% | 0.65% |
| Non US | 0.00% | -0.02% | 23.24% | 96.29% |
STBJX - Expenses
Operational Fees
| STBJX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.61% | 0.14% | 9.86% | 34.08% |
| Management Fee | 1.05% | 0.00% | 2.29% | 88.02% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 15.95% |
| Administrative Fee | N/A | 0.00% | 0.70% | N/A |
Sales Fees
| STBJX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.50% | N/A |
Trading Fees
| STBJX 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.
| STBJX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 57.00% | 0.00% | 632.00% | 33.79% |
STBJX - Distributions
Dividend Yield Analysis
| STBJX | Category Low | Category High | STBJX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.73% | 0.00% | 23.30% | 43.54% |
Dividend Distribution Analysis
| STBJX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Annually | Monthly | Monthly |
Net Income Ratio Analysis
| STBJX | Category Low | Category High | STBJX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.26% | -1.55% | 11.51% | 41.15% |
Capital Gain Distribution Analysis
| STBJX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| May 28, 2026 | $0.118 | OrdinaryDividend |
| Apr 29, 2026 | $0.121 | OrdinaryDividend |
| Mar 30, 2026 | $0.110 | OrdinaryDividend |
| Feb 26, 2026 | $0.110 | OrdinaryDividend |
| Jan 29, 2026 | $0.036 | OrdinaryDividend |
| Dec 30, 2025 | $0.214 | OrdinaryDividend |
| Nov 26, 2025 | $0.109 | OrdinaryDividend |
| Oct 30, 2025 | $0.113 | OrdinaryDividend |
| Sep 29, 2025 | $0.113 | OrdinaryDividend |
| Aug 28, 2025 | $0.122 | OrdinaryDividend |
| Jul 30, 2025 | $0.114 | OrdinaryDividend |
| Jun 27, 2025 | $0.115 | OrdinaryDividend |
| May 29, 2025 | $0.063 | OrdinaryDividend |
| Apr 29, 2025 | $0.134 | OrdinaryDividend |
| Mar 28, 2025 | $0.123 | OrdinaryDividend |
| Feb 27, 2025 | $0.111 | OrdinaryDividend |
| Jan 30, 2025 | $0.049 | OrdinaryDividend |
| Dec 30, 2024 | $0.241 | OrdinaryDividend |
| Nov 27, 2024 | $0.112 | OrdinaryDividend |
| Oct 30, 2024 | $0.117 | OrdinaryDividend |
| Sep 27, 2024 | $0.133 | OrdinaryDividend |
| Aug 29, 2024 | $0.107 | OrdinaryDividend |
| Jul 30, 2024 | $0.113 | OrdinaryDividend |
| Apr 29, 2024 | $0.109 | OrdinaryDividend |
| Mar 27, 2024 | $0.144 | OrdinaryDividend |
| Feb 28, 2024 | $0.104 | OrdinaryDividend |
| Jan 30, 2024 | $0.025 | OrdinaryDividend |
| Dec 28, 2023 | $0.223 | OrdinaryDividend |
| Nov 29, 2023 | $0.037 | OrdinaryDividend |
| Oct 30, 2023 | $0.140 | OrdinaryDividend |
| Sep 28, 2023 | $0.141 | OrdinaryDividend |
| Aug 30, 2023 | $0.107 | OrdinaryDividend |
| Jul 28, 2023 | $0.102 | OrdinaryDividend |
| Jun 29, 2023 | $0.146 | OrdinaryDividend |
| May 30, 2023 | $0.099 | OrdinaryDividend |
| Apr 27, 2023 | $0.045 | OrdinaryDividend |
| Mar 30, 2023 | $0.090 | OrdinaryDividend |
| Feb 27, 2023 | $0.130 | OrdinaryDividend |
| Jan 30, 2023 | $0.021 | OrdinaryDividend |
| Dec 29, 2022 | $0.246 | OrdinaryDividend |
| Nov 29, 2022 | $0.069 | OrdinaryDividend |
| Oct 28, 2022 | $0.033 | OrdinaryDividend |
| Sep 29, 2022 | $0.016 | OrdinaryDividend |
| Aug 30, 2022 | $0.011 | OrdinaryDividend |
| Jan 28, 2022 | $0.035 | OrdinaryDividend |
| Nov 29, 2021 | $0.050 | OrdinaryDividend |
| Oct 28, 2021 | $0.044 | OrdinaryDividend |
| Sep 29, 2021 | $0.119 | OrdinaryDividend |
| Aug 30, 2021 | $0.065 | OrdinaryDividend |
| Jul 29, 2021 | $0.064 | OrdinaryDividend |
| Jun 29, 2021 | $0.129 | OrdinaryDividend |
| May 27, 2021 | $0.066 | OrdinaryDividend |
| Apr 29, 2021 | $0.060 | OrdinaryDividend |
| Mar 30, 2021 | $0.113 | OrdinaryDividend |
| Feb 25, 2021 | $0.072 | OrdinaryDividend |
| Jan 28, 2021 | $0.053 | OrdinaryDividend |
| Dec 30, 2020 | $1.253 | OrdinaryDividend |
| Nov 27, 2020 | $0.051 | OrdinaryDividend |
| Oct 29, 2020 | $0.042 | OrdinaryDividend |
| Sep 29, 2020 | $0.076 | OrdinaryDividend |
| Aug 28, 2020 | $0.060 | OrdinaryDividend |
| Jul 30, 2020 | $0.020 | OrdinaryDividend |
| Jun 29, 2020 | $0.145 | OrdinaryDividend |
| May 28, 2020 | $0.068 | OrdinaryDividend |
| Apr 29, 2020 | $0.068 | OrdinaryDividend |
| Mar 30, 2020 | $0.027 | OrdinaryDividend |
| Feb 27, 2020 | $0.057 | OrdinaryDividend |
| Jan 30, 2020 | $0.032 | OrdinaryDividend |
| Dec 27, 2019 | $0.136 | OrdinaryDividend |
| Nov 27, 2019 | $0.104 | OrdinaryDividend |
STBJX - Fund Manager Analysis
Managers
Kenneth Sleeper
Start Date
Tenure
Tenure Rank
Sep 02, 2019
2.75
2.8%
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.
Marshall Quan
Start Date
Tenure
Tenure Rank
Jan 28, 2022
0.34
0.3%
Mr. Quan is Lead Portfolio Analyst at Sierra Investment Management, the parent company of the Sierra Mutual Funds and Ocean Park Asset Management. He joined Sierra in 1999 and is responsible for investment monitoring & analysis, securities screening execution & reporting, technical analysis and portfolio construction among other investment management and operational duties. Marshall earned his BS degree in Business Administration: Classical Management – Finance from Cal State University at Dominguez Hills.
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 |
|---|---|---|---|
| 0.02 | 28.19 | 5.66 | 3.19 |