Salient Tactical Plus Fund (BTPIX)

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Salient Tactical Plus Fund (BTPIX) is up 6.9% since the beginning of the year. BTPIX is currently trading at $12 per share. Investors who bought $1,000 worth of BTPIX shares 5 years ago would now be looking at an investment worth $1,141.

Salient Tactical Plus Fund (BTPIX) has returned 6.93% so far this year and 10.52% over the past 12 months. Over the last ten years, BTPIX has returned 4.42% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.

Based on dividend-adjusted daily data since Jan 2, 2013, BTPIX's average daily return is +0.02%, while the average monthly return is +0.38%. At this rate, an investment would double in approximately 15.2 years.

Historically, 59% of months were positive and 41% were negative. The best month was Nov 2016 with a return of +8.2%, while the worst month was Sep 2020 at -7.2%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 6 months.

On a daily basis, BTPIX closed higher 47% of trading days. The best single day was Jun 8, 2020 with a return of +5.8%, while the worst single day was Dec 28, 2017 at -7.8%.

Salient Tactical Plus Fund has an annualized alpha of 1.03%, beta of 0.26, and R2 of 0.26 versus S&P 500 Index. Calculated based on daily prices since January 03, 2013.

• This fund participated in 49.73% of S&P 500 Index downside but only 35.15% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.26 may look defensive, but with R2 of 0.26 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 0.26 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.

BTPIX has a high expense ratio of 1.08%, indicating above-average management fees.

BTPIX ranks 17 for risk / return — in the bottom 17% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.

The table below present risk-adjusted performance metrics for Salient Tactical Plus Fund (BTPIX) and compare them to S&P 500 Index.

Salient Tactical Plus Fund provided a 2.63% dividend yield over the last twelve months, with an annual payout of $0.30 per share.

The table displays the monthly dividend distributions for Salient Tactical Plus 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 Salient Tactical Plus 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 Salient Tactical Plus Fund was 13.30%, occurring on Jun 27, 2016. Recovery took 123 trading sessions.

The chart below shows the rolling one-month volatility.