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Trending ETFs

ABR 75/25 VOLATILITY FUND

mutual fund
VOLSX
Payout Change
Pending
Price as of:
$11.4 -0.07 -0.61%
primary theme
Long-Short Equity
share class
VOLSX (Mutual Fund)

ABR 75/25 VOLATILITY FUND

Payout Change
Pending
Price as of:
$11.4 -0.07 -0.61%
primary theme
Long-Short Equity
share class
VOLSX (Mutual Fund)

ABR 75/25 VOLATILITY FUND

Payout Change
Pending
Price as of:
$11.4 -0.07 -0.61%
primary theme
Long-Short Equity
share class

Name

As of 12/09/2024

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

$11.40

$259 M

0.24%

$0.03

2.77%

Vitals

YTD Return

19.5%

1 yr return

23.7%

3 Yr Avg Return

2.3%

5 Yr Avg Return

N/A

Net Assets

$259 M

Holdings in Top 10

42.8%

52 WEEK LOW AND HIGH

$11.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.77%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

$100,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/09/2024

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

$11.40

$259 M

0.24%

$0.03

2.77%

VOLSX - Profile

Distributions

  • YTD Total Return 19.5%
  • 3 Yr Annualized Total Return 2.3%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -1.53%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    ABR 75/25 VOLATILITY FUND
  • Fund Family Name
    Forum Family
  • Inception Date
    Aug 03, 2020
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Taylor Lukof

Fund Description

Employing a proprietary investment model, the Fund’s adviser, ABR Dynamic Funds, LLC (the “Adviser”), invests the Fund’s assets primarily in securities and derivative instruments that, to varying degrees, provide for an allocation among (i) long exposure to CBOE Volatility Index (“VIX Index”) futures and VIX Index exchange-traded products (“ETPs”); (ii) short exposure to VIX Index futures and VIX Index ETPs; (iii) long exposure to S&P 500 Index futures and S&P 500 Index ETPs; (iv) long exposure to long-term U.S. Treasury securities, and (v) cash. For purposes of this policy, ETPs include exchange-traded funds and exchange-traded notes. The Fund’s holdings are rebalanced daily.

When the Fund has long exposure to any combination of VIX Index futures, VIX Index ETPs, S&P 500 Index futures, S&P 500 Index ETPs, and/or long-term U.S. Treasury securities, the Fund will profit if the price of the security or derivative instrument increases. When the Fund has short exposure to VIX Index futures or VIX Index ETPs, it has taken an opposing position to the movement of equity volatility in the market; it gains when the price of VIX Index futures or VIX Index ETPs falls while incurring losses when the price of VIX Index futures or VIX Index ETPs rises. Long and short positions may be directly related to one another or independent from each other.

The Adviser will typically manage the Fund’s assets so that seventy-five percent (75%) of its net assets are managed in accordance with the Adviser’s proprietary “long” volatility strategy, and the remaining twenty-five percent (25%) of its net assets are managed in accordance with the Adviser’s proprietary “short” volatility strategy. The actual exposure of the Fund’s assets to these two strategies may deviate from these targets based on market conditions. In addition, the Adviser may implement adjustments to the 75/25 blend under various market conditions with the goal of enhancing returns or mitigating risk.

Volatility and the VIX Index:

Volatility is a statistical measure of the magnitude of changes in security prices without regard to the direction of those changes. Higher volatility generally indicates higher risk, as often reflected by frequent (and sometimes significant) movements up and down in value. Lower volatility generally indicates lower risk because the prices of securities tend not to fluctuate as dramatically. The VIX Index measures the expected volatility of the S&P 500 Index. The S&P 500 Index is a market value-weighted index representing the performance of 500 widely held, publicly traded large capitalization companies.

The Fund does not track the performance of the VIX Index and can be expected to perform differently from the VIX Index.

Long and Short Volatility Strategies:

Long Volatility: The Adviser’s long volatility strategy is model-based and relies, in part, on a comparison of the current VIX Index level to its historical levels to assess the level of volatility in the market environment. Depending on the level of volatility in the market environment, the long volatility model’s allocation to long exposure to S&P 500 Index futures and S&P 500 Index ETPs may reach 100% and the model’s allocation to long exposure to VIX Index futures and VIX Index ETPs may approach 50%, although such maximum allocations will not be reached simultaneously. For example, in low to medium volatility environments, the long volatility model typically targets a larger long exposure to S&P 500 Index futures and S&P 500 Index ETPs and a lesser long exposure to VIX Index futures and VIX Index ETPs. In medium to high volatility environments, the model typically targets a lesser long exposure to S&P 500 Index futures and S&P 500 Index ETPs and a larger long exposure to VIX Index futures and VIX Index ETPs.

Short Volatility: The Adviser’s short volatility strategy is model-based and relies, in part, on a comparison of the current VIX Index level to its historical levels to assess the level of volatility in the market environment. Depending on the level of volatility in the market environment, the short volatility model’s allocation to short exposure to VIX Index futures and VIX Index ETPs may reach 100%; the model’s allocation to U.S. Treasuries may reach 80%; and the model’s allocation to cash may reach 100%, although such maximum allocations will not be reached simultaneously. For example, in low volatility environments, the short volatility model typically targets a larger long exposure to long-term U.S. Treasuries and a lesser short exposure to VIX Index futures and VIX Index ETPs. In medium volatility environments, the model typically targets a lesser long exposure to long-term U.S. Treasuries and a larger short exposure to VIX Index futures and VIX Index ETPs. In high volatility environments, the model typically targets a lesser long exposure to long-term U.S. Treasuries and short exposure to VIX Index futures and VIX Index ETPs, with a larger exposure to cash.

The Adviser may consider other factors when implementing its long and short volatility strategies, such as changes to the time period over which the investment model is run, changes to the relative weightings of model exposures, and changes to the choice and weighting of the instruments used to gain such exposures. Such factors may cause the Fund’s holdings to deviate from the models.

75% Long Volatility Strategy plus 25% Short Volatility Strategy Approach:

In managing the Fund, the Adviser uses a 75/25 blend of Long and Short Volatility Strategies, based on the Fund’s net assets, in order to seek to generate favorable long-term risk-adjusted returns, in part, by profiting from price changes involving instruments that track volatility levels.

Depending on the level of volatility in the market, the Fund, through its 75/25 approach, will emphasize different portfolio constituents in differing amounts or levels. For example, in low volatility environments, the Adviser’s approach typically creates a larger long exposure to S&P 500 Index futures and S&P 500 Index ETPs and larger exposure to long-term U.S. Treasuries and a lesser short exposure to VIX Index futures and VIX Index ETPs. In medium volatility environments, the Adviser’s approach typically creates a lesser long exposure to S&P 500 Index futures and S&P 500 Index ETPs and lesser long exposure to long-term U.S. Treasuries and a larger short exposure to VIX Index futures and VIX Index ETPs. In high volatility environments, the approach typically creates a lesser long exposure to S&P 500 Index futures and S&P 500 Index ETPs and lesser long exposure to long-term U.S. Treasuries and a larger long exposure to VIX futures and VIX Index ETPs with a larger exposure to cash.

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VOLSX - Performance

Return Ranking - Trailing

Period VOLSX Return Category Return Low Category Return High Rank in Category (%)
YTD 19.5% -11.9% 43.9% 27.89%
1 Yr 23.7% -11.4% 49.0% 23.13%
3 Yr 2.3%* -8.1% 25.4% 75.76%
5 Yr N/A* -2.6% 23.5% N/A
10 Yr N/A* -4.0% 11.2% N/A

* Annualized

Return Ranking - Calendar

Period VOLSX Return Category Return Low Category Return High Rank in Category (%)
2023 24.4% -17.3% 43.8% 6.80%
2022 -29.8% -54.0% 17.4% 95.45%
2021 7.1% -40.0% 54.1% 47.62%
2020 N/A -47.6% 88.4% N/A
2019 N/A -20.3% 62.6% N/A

Total Return Ranking - Trailing

Period VOLSX Return Category Return Low Category Return High Rank in Category (%)
YTD 19.5% -11.9% 43.9% 27.89%
1 Yr 23.7% -11.4% 49.0% 23.13%
3 Yr 2.3%* -8.1% 25.4% 75.76%
5 Yr N/A* -2.6% 23.5% N/A
10 Yr N/A* -4.0% 11.2% N/A

* Annualized

Total Return Ranking - Calendar

Period VOLSX Return Category Return Low Category Return High Rank in Category (%)
2023 24.7% -14.5% 43.8% 6.80%
2022 -29.8% -54.0% 50.3% 95.45%
2021 27.8% -40.0% 61.6% 16.67%
2020 N/A -29.9% 91.0% N/A
2019 N/A -17.9% 79.4% N/A

NAV & Total Return History


VOLSX - Holdings

Concentration Analysis

VOLSX Category Low Category High VOLSX % Rank
Net Assets 259 M 1.08 M 6.67 B 30.61%
Number of Holdings 3 3 2730 97.28%
Net Assets in Top 10 122 M -4.86 M 2.41 B 29.25%
Weighting of Top 10 42.80% -9.9% 110.8% 55.78%

Top 10 Holdings

  1. SP 500 E-mini Future 73.57%
  2. CBOE VIX Future -13.34%
  3. CBOE VIX Future -17.43%

Asset Allocation

Weighting Return Low Return High VOLSX % Rank
Cash
57.20% 0.00% 109.95% 19.05%
Other
42.80% -57.63% 99.50% 2.72%
Stocks
0.00% -0.13% 113.26% 94.56%
Preferred Stocks
0.00% -1.13% 6.36% 45.58%
Convertible Bonds
0.00% -0.02% 4.48% 35.97%
Bonds
0.00% 0.00% 108.68% 50.34%

VOLSX - Expenses

Operational Fees

VOLSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.77% 0.42% 9.95% 25.17%
Management Fee 2.50% 0.00% 2.50% 98.64%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 1.54% N/A

Sales Fees

VOLSX 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% 4.00% N/A

Trading Fees

VOLSX 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.

VOLSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 446.00% N/A

VOLSX - Distributions

Dividend Yield Analysis

VOLSX Category Low Category High VOLSX % Rank
Dividend Yield 0.24% 0.00% 27.22% 78.08%

Dividend Distribution Analysis

VOLSX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

VOLSX Category Low Category High VOLSX % Rank
Net Income Ratio -1.53% -3.33% 2.16% 77.24%

Capital Gain Distribution Analysis

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

Distributions History

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VOLSX - Fund Manager Analysis

Managers

Taylor Lukof


Start Date

Tenure

Tenure Rank

Aug 03, 2020

1.82

1.8%

Mr. Lukof is the Founder/CEO and Fund Manager. He has 16 years of investment experience. He was formerly a partner at Toro Trading LLC, where he co-managed equity derivative trading strategies. Mr. Lukof, as a market maker, was responsible for trading single name and index-related exchanged traded products. He began his career at TANSTAAFL Research & Trading, LLC, as the youngest member of the American Stock Exchange at that time. Mr. Lukof graduated from Bucknell University, Cum Laude, with a Bachelor of Science in Business Administration.

David Skordal


Start Date

Tenure

Tenure Rank

Aug 03, 2020

1.82

1.8%

Mr. Skordal is a co-Founder and Fund Manager at ABR Dynamic Funds. He has 17 years of investment experience. He was formerly a Trader at Toro Trading LLC, where he worked alongside Mr. Lukof. At Toro Trading, he developed and managed the international Exchange Traded Funds desk. Before joining Toro Trading in 2009, Mr. Skordal was a specialist on the American Stock Exchange for Susquehanna International Group. He has a 10-year working relationship with Mr. Lukof. Mr. Skordal graduated from Massachusetts Institute of Technology (MIT) with a Bachelor of Science (SB) degree in Physics.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 23.55 5.96 7.93