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Aspiriant Defensive Allocation Fund
mutual fund
RMDFX
Payout Change
Pending
Price as of:
$10.88
+0.0
+0.0%
primary theme
N/A
share class
RMDFX (Mutual Fund)
Aspiriant Defensive Allocation Fund
RMDFX (Mutual Fund)
Aspiriant Defensive Allocation Fund
Payout Change
Pending
Price as of:
$10.88
+0.0
+0.0%
primary theme
N/A
share class
Name
As of 12/19/2024Price
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
Vitals
YTD Return
5.5%
1 yr return
6.4%
3 Yr Avg Return
2.6%
5 Yr Avg Return
3.2%
Net Assets
$1.31 B
Holdings in Top 10
93.8%
52 WEEK LOW AND HIGH
$10.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 4.21%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 20.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/19/2024Price
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
RMDFX - Profile
Distributions
- YTD Total Return 5.5%
- 3 Yr Annualized Total Return 2.6%
- 5 Yr Annualized Total Return 3.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.32%
- Dividend Yield 3.5%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAspiriant Defensive Allocation Fund
-
Fund Family NameASPIRIANT
-
Inception DateDec 14, 2015
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Allen
Fund Description
The Defensive Allocation Fund is a “fund-of-funds” that seeks to provide an investment return that has lower volatility than traditional asset classes (i.e., public equity and investment grade bonds) by combining several non-traditional or alternative asset class exposures, including investments that focus on a specialized asset class such as long-short strategies. Non-traditional or alternative asset classes have tended over time to have a lower correlation with the broad U.S. stock and bond markets. The Fund allocates its assets among a variety of non-traditional or alternative asset classes listed below so as to capture diversifying returns from these non-traditional or alternative sources. The Defensive Allocation Fund invests primarily in Underlying Funds and may, to a limited extent, invest in separately managed accounts (“SMAs”), which are private portfolios of securities for individual accounts.
The Fund intends to allocate its assets among a range of investment strategies. At any point in time, the Fund’s exposures may include global equities, global fixed income, market neutral, global macro, managed futures, relative value, long/short equity, long/short debt, merger arbitrage, convertible arbitrage, security arbitrage, managed futures and other non-traditional strategies. In selecting Underlying Funds and asset class exposures, the Adviser will take asset diversification and potential volatility of return into account. The Underlying Funds include, among others, unaffiliated U.S. and foreign mutual funds and exchange traded funds, and unaffiliated limited partnerships, including hedge funds. At any time, investments in hedge funds will not exceed 15% of the Fund’s net assets. The Underlying Funds may invest in derivatives (e.g., futures, forwards, options, swaps or swaptions). A derivative is a contract whose value is based on performance of an underlying financial asset, index, rate, instrument or economic measure.
In seeking to achieve the Fund’s investment objective and preserve capital, the Adviser may invest a significant portion of the Fund’s net assets in cash and cash equivalents.
The Fund is non-diversified under the 1940 Act and may invest a greater percentage of its assets in fewer issuers than a diversified fund.
RMDFX - Performance
Return Ranking - Trailing
| Period | RMDFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.5% | -73.0% | 19.4% | 54.84% |
| 1 Yr | 6.4% | -9.1% | 86.9% | 23.64% |
| 3 Yr | 2.6%* | -9.5% | 16.2% | 43.78% |
| 5 Yr | 3.2%* | -4.9% | 14.4% | 24.66% |
| 10 Yr | N/A* | -0.9% | 7.5% | N/A |
* Annualized
Return Ranking - Calendar
| Period | RMDFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.1% | -22.7% | 305.1% | 43.33% |
| 2022 | -7.6% | -9.8% | 27.3% | 27.02% |
| 2021 | -1.1% | -20.8% | 10.9% | 77.78% |
| 2020 | 2.8% | -12.4% | 29.4% | 14.36% |
| 2019 | 7.4% | -10.5% | 15.8% | 50.26% |
Total Return Ranking - Trailing
| Period | RMDFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.5% | -73.0% | 19.4% | 54.84% |
| 1 Yr | 6.4% | -13.4% | 86.9% | 21.82% |
| 3 Yr | 2.6%* | -9.5% | 16.2% | 40.56% |
| 5 Yr | 3.2%* | -5.3% | 14.4% | 22.42% |
| 10 Yr | N/A* | -0.9% | 7.5% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | RMDFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.0% | -22.7% | 305.1% | 43.33% |
| 2022 | -6.8% | -9.8% | 27.3% | 27.42% |
| 2021 | 4.2% | -20.8% | 10.9% | 80.89% |
| 2020 | 5.1% | -8.4% | 29.4% | 25.25% |
| 2019 | 11.5% | -10.2% | 18.0% | 60.73% |
NAV & Total Return History
RMDFX - Holdings
Concentration Analysis
| RMDFX | Category Low | Category High | RMDFX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.31 B | 1.5 M | 5.01 B | 9.96% |
| Number of Holdings | 12 | 4 | 4478 | 95.05% |
| Net Assets in Top 10 | 1.05 B | -398 M | 2.55 B | 4.24% |
| Weighting of Top 10 | 93.81% | 13.1% | 100.0% | 7.34% |
Top 10 Holdings
- GMO Benchmark-Free Allocation Fund, Class IV 29.87%
- Managed Fund / Bridgewater Fund Ltd. 12.94%
- JPMorgan Global Allocation Fund, Class R6 10.67%
- GMO Investments ICAV - GMO Equity Dislocation Investment Fund 7.77%
- Millennium International Ltd., Class GG 6.33%
- Lazard Global Investment Funds plc - Lazard Rathmore Alternative Fund 5.51%
- iShares Gold Trust 5.40%
- Elliott Associates LP 5.18%
- Eaton Vance Global Macro Absolute Return Advantage Fund, Class R6 5.09%
- BlackRock Event Driven Equity Fund 5.06%
Asset Allocation
| Weighting | Return Low | Return High | RMDFX % Rank | |
|---|---|---|---|---|
| Cash | 3.28% | -6278.21% | 410.43% | 69.96% |
| Convertible Bonds | 0.12% | 0.00% | 87.92% | 55.12% |
| Stocks | 0.00% | -3.75% | 97.95% | 39.93% |
| Preferred Stocks | 0.00% | -0.12% | 46.97% | 36.75% |
| Other | 0.00% | -21.53% | 148.54% | 13.43% |
| Bonds | 0.00% | -326.45% | 6347.80% | 62.19% |
RMDFX - Expenses
Operational Fees
| RMDFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 4.21% | 0.29% | 31.15% | 100.00% |
| Management Fee | 0.10% | 0.00% | 2.50% | 1.77% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.01% | 0.01% | 0.30% | 1.37% |
Sales Fees
| RMDFX 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% | 5.00% | N/A |
Trading Fees
| RMDFX 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.
| RMDFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 20.00% | 0.00% | 491.00% | 10.48% |
RMDFX - Distributions
Dividend Yield Analysis
| RMDFX | Category Low | Category High | RMDFX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.49% | 0.00% | 4.56% | 79.51% |
Dividend Distribution Analysis
| RMDFX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| RMDFX | Category Low | Category High | RMDFX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.32% | -2.51% | 6.83% | 46.76% |
Capital Gain Distribution Analysis
| RMDFX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 21, 2023 | $0.380 | OrdinaryDividend |
| Dec 22, 2022 | $0.077 | OrdinaryDividend |
| Dec 30, 2021 | $0.575 | OrdinaryDividend |
| Dec 30, 2020 | $0.247 | OrdinaryDividend |
| Dec 30, 2019 | $0.398 | OrdinaryDividend |
| Dec 28, 2018 | $0.003 | CapitalGainShortTerm |
| Dec 28, 2018 | $0.179 | CapitalGainLongTerm |
| Dec 28, 2018 | $0.221 | OrdinaryDividend |
| Dec 28, 2017 | $0.030 | OrdinaryDividend |
| Dec 07, 2017 | $0.040 | CapitalGainShortTerm |
| Dec 07, 2017 | $0.029 | CapitalGainLongTerm |
| Dec 07, 2017 | $0.133 | OrdinaryDividend |
| Dec 29, 2016 | $0.116 | OrdinaryDividend |
| Dec 29, 2016 | $0.000 | CapitalGainLongTerm |
RMDFX - Fund Manager Analysis
Managers
John Allen
Start Date
Tenure
Tenure Rank
Dec 14, 2015
6.47
6.5%
John Allen, CFA, CAIA, is Chief Investment Officer (“CIO”) at Aspiriant, LLC. Mr. Allen joined Aspiriant, LLC as CIO in 2014. Prior to joining Aspiriant, LLC he was a senior member of the client service team at Grantham, Mayo, Van Otterloo (“GMO”) from 2009 to 2014. Prior to joining GMO, Mr. Allen was Head of Investments at a large family office. He began working in the financial services industry in the investment banking department at Donaldson, Lufkin & Jenrette and business consulting practice of Stern Stewart & Company.
Marc Castellani
Start Date
Tenure
Tenure Rank
Dec 14, 2015
6.47
6.5%
Marc Castellani, CFA, CAIA, CIMA, is Managing Director of Investment Strategy & Research at Aspiriant, LLC. Mr. Castellani joined Aspiriant, LLC in 2015. Prior to joining Aspiriant, LLC, he worked at J.P. Morgan Private Bank in Los Angeles from 2012 to 2015. Prior to joining J.P. Morgan Private Bank, he worked at U.S. Trust from 2010 to 2012. Previously, Mr. Castellani worked in Merger and Acquisitions of J.P. Morgan and Banc of America Securities. He began his career in the financial services industry as an Associate in the corporate finance advisory practice of Stern Stewart & Company.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.02 | 17.37 | 4.48 | 1.67 |
