- ISIN
- US66538J6881
- CUSIP
- 66538J688
- Issuer
- BTS
- Inception Date
- Dec 30, 2018
- Category
- Nontraditional Bonds
- Min. Investment
- $100,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
BTSIX Performance Chart
BTS Managed Income Fund (BTSIX) is up 1.8% since the beginning of the year. BTSIX is currently trading at $10 per share. Investors who bought $1,000 worth of BTSIX shares 5 years ago would now be looking at an investment worth $1,031.
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Returns By Period
BTS Managed Income Fund (BTSIX) has returned 1.83% so far this year and 6.59% over the past 12 months.
BTS Managed Income Fund
- 1D
- 0.10%
- 1M
- 0.52%
- YTD
- 1.83%
- 6M
- 1.79%
- 1Y
- 6.59%
- 3Y*
- 5.09%
- 5Y*
- 0.62%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
BTSIX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2019, BTSIX's average daily return is +0.01%, while the average monthly return is +0.18%. At this rate, an investment would double in approximately 32.1 years.
Historically, 62% of months were positive and 38% were negative. The best month was Jan 2023 with a return of +3.8%, while the worst month was Jun 2022 at -5.2%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, BTSIX closed higher 45% of trading days. The best single day was Apr 9, 2020 with a return of +2.4%, while the worst single day was Mar 18, 2020 at -2.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.26% | 0.52% | -2.03% | 1.69% | 0.21% | 0.21% | 1.83% | ||||||
| 2025 | 1.47% | 0.62% | -1.53% | -1.05% | 1.17% | 1.68% | 0.73% | 0.93% | 0.39% | 0.00% | 0.92% | 0.27% | 5.68% |
| 2024 | -0.21% | 0.43% | 1.36% | -1.58% | 1.29% | 0.41% | 1.71% | 1.15% | 1.15% | -0.62% | 2.29% | -2.95% | 4.37% |
| 2023 | 3.84% | -2.43% | 0.35% | 0.43% | -0.97% | 1.34% | 1.19% | -0.43% | -1.91% | -1.55% | 3.16% | 2.71% | 5.65% |
| 2022 | -2.25% | -0.96% | -1.39% | -3.15% | 0.41% | -5.16% | 3.11% | -2.50% | -3.67% | 1.45% | 3.08% | -1.68% | -12.34% |
| 2021 | -0.55% | -0.64% | -0.48% | 0.75% | 0.28% | 0.87% | 0.09% | -0.09% | -1.43% | 0.56% | -0.93% | 0.47% | -1.14% |
Benchmark Metrics
BTS Managed Income Fund has an annualized alpha of -0.73%, beta of 0.17, and R2 of 0.42 versus S&P 500 Index. Calculated based on daily prices since January 02, 2019.
- This fund participated in 35.81% of S&P 500 Index downside but only 18.69% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.17 may look defensive, but with R2 of 0.42 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 0.42 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- -0.73%
- Beta
- 0.17
- R²
- 0.42
- Upside Capture
- 18.69%
- Downside Capture
- 35.81%
Expense Ratio
BTSIX has a high expense ratio of 1.50%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BTSIX ranks 51 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for BTS Managed Income Fund (BTSIX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BTSIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.37 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 2.78 | -0.17 |
| Martin ratioReturn relative to average drawdown | 10.26 | 12.44 | -2.18 |
Dividends
Dividend History
BTS Managed Income Fund provided a 5.57% dividend yield over the last twelve months, with an annual payout of $0.54 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.54 | $0.54 | $0.25 | $0.24 | $0.24 | $0.15 | $0.15 | $0.20 |
Dividend yield | 5.57% | 5.62% | 2.59% | 2.51% | 2.59% | 1.37% | 1.34% | 2.01% |
Monthly Dividends
The table displays the monthly dividend distributions for BTS Managed Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.00 | $0.05 | ||||||
| 2025 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.31 | $0.54 |
| 2024 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.00 | $0.25 |
| 2023 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.02 | $0.24 |
| 2022 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.11 | $0.24 |
| 2021 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.05 | $0.15 |
Drawdowns
Drawdowns Chart
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the BTS Managed 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 Managed Income Fund was 16.28%, occurring on Oct 14, 2022. Recovery took 782 trading sessions.
The current BTS Managed Income Fund drawdown is 0.21%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -16.28%Oct 2022 | 1y 2mo | 3y 1mo | 4y 3moAug 2021 - Nov 2025 |
COVID crash2020 | -9.89%Mar 2020 | 10d | 2mo 15d | 2mo 25dMar 2020 - Jun 2020 |
2020 pullback2020 | -2.70%Oct 2020 | 1mo 27d | 1mo 24d | 3mo 21dSep 2020 - Dec 2020 |
2026 pullback2026 | -2.57%Mar 2026 | 25d | 2mo 17d | 3mo 12dMar 2026 - Jun 2026 |
2021 pullback2021 | -2.37%Mar 2021 | 20d | 4mo | 4mo 20dFeb 2021 - Jul 2021 |
Drawdown Indicators
| BTSIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.28% | -56.78% | +40.50% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | -9.10% | +6.53% |
Max Drawdown (3Y)Largest decline over 3 years | -6.22% | -18.90% | +12.68% |
Max Drawdown (5Y)Largest decline over 5 years | -16.28% | -25.43% | +9.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.21% | -1.80% | +1.59% |
Average DrawdownAverage peak-to-trough decline | -4.61% | -10.71% | +6.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 2.03% | -1.38% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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