BTS Tactical Fixed Income Fund (BTFAX)

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BTS Tactical Fixed Income Fund (BTFAX) is down 1.4% since the beginning of the year. BTFAX is currently trading at $7 per share. Investors who bought $1,000 worth of BTFAX shares 5 years ago would now be looking at an investment worth $910.

BTS Tactical Fixed Income Fund (BTFAX) has returned -1.41% so far this year and 1.13% over the past 12 months. Over the last ten years, BTFAX has returned -0.37% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.

Based on dividend-adjusted daily data since May 31, 2013, BTFAX's average daily return is 0.00%, while the average monthly return is +0.04%. At this rate, an investment would double in approximately 144.4 years.

Historically, 52% of months were positive and 48% were negative. The best month was Jan 2023 with a return of +3.3%, while the worst month was Jun 2022 at -7.1%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 9 months.

On a daily basis, BTFAX closed higher 34% of trading days. The best single day was Apr 9, 2020 with a return of +2.8%, while the worst single day was Jun 13, 2022 at -3.6%.

BTS Tactical Fixed Income Fund has an annualized alpha of -0.72%, beta of 0.10, and R2 of 0.13 versus S&P 500 Index. Calculated based on daily prices since May 31, 2013.

• This fund participated in 26.92% of S&P 500 Index downside but only 12.20% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.10 may look defensive, but with R2 of 0.13 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.13 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

BTFAX has a high expense ratio of 1.65%, indicating above-average management fees.

BTFAX ranks 7 for risk / return — above 7% of mutual funds peers on PortfoliosLab. Its historical combined result is below most peers; review the five component ranks for context.

BTS Tactical Fixed Income Fund provided a 3.87% dividend yield over the last twelve months, with an annual payout of $0.29 per share.

The table displays the monthly dividend distributions for BTS Tactical Fixed Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the BTS Tactical Fixed Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the BTS Tactical Fixed Income Fund was 19.78%, occurring on Nov 9, 2023. The portfolio has not yet recovered.

The current BTS Tactical Fixed Income Fund drawdown is 11.17%.

The chart below shows the rolling one-month volatility.