- ISIN
- US4481082091
- CUSIP
- 448108209
- Issuer
- Hussman Funds
- Inception Date
- Sep 11, 2002
- Category
- Tactical Allocation
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Value
Share Price Chart
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Performance
HSTRX Performance Chart
Hussman Strategic Total Return Fund (HSTRX) is up 3.7% since the beginning of the year. HSTRX is currently trading at $17 per share. Investors who bought $1,000 worth of HSTRX shares 5 years ago would now be looking at an investment worth $1,325.
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Returns By Period
Hussman Strategic Total Return Fund (HSTRX) has returned 3.66% so far this year and 13.61% over the past 12 months. Over the last ten years, HSTRX has returned 5.11% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Hussman Strategic Total Return Fund
- 1D
- -0.06%
- 1M
- 0.29%
- YTD
- 3.66%
- 6M
- 3.57%
- 1Y
- 13.61%
- 3Y*
- 11.06%
- 5Y*
- 5.79%
- 10Y*
- 5.11%
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%
HSTRX Monthly Returns History
Based on dividend-adjusted daily data since Sep 16, 2002, HSTRX's average daily return is +0.02%, while the average monthly return is +0.43%. At this rate, an investment would double in approximately 13.5 years.
Historically, 63% of months were positive and 37% were negative. The best month was Apr 2020 with a return of +6.5%, while the worst month was Oct 2008 at -7.4%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 5 months.
On a daily basis, HSTRX closed higher 47% of trading days. The best single day was Mar 18, 2009 with a return of +2.9%, 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 | 2.96% | 2.25% | -1.70% | 0.52% | 0.17% | -0.51% | 3.66% | ||||||
| 2025 | 1.53% | 2.47% | 1.90% | 2.77% | -0.83% | 2.27% | -0.13% | 4.85% | 2.07% | -0.72% | 2.36% | 0.27% | 20.33% |
| 2024 | -1.79% | -1.17% | 3.35% | 0.29% | 1.50% | 0.57% | 1.92% | 1.88% | 0.94% | 0.07% | -0.07% | -1.47% | 6.06% |
| 2023 | 2.45% | -3.11% | 4.21% | 0.58% | -2.01% | 0.08% | 1.18% | -0.58% | -1.44% | 0.30% | 2.91% | 1.56% | 6.04% |
| 2022 | -1.23% | 2.00% | 1.31% | -2.55% | 0.34% | -4.12% | 0.86% | -2.28% | -3.40% | 1.06% | 2.33% | -0.49% | -6.23% |
| 2021 | -0.61% | -1.85% | 0.55% | 1.25% | 2.20% | -0.46% | 0.61% | -0.61% | -1.35% | 0.76% | -0.34% | 1.13% | 1.21% |
Benchmark Metrics
Hussman Strategic Total Return Fund has an annualized alpha of 4.61%, beta of 0.07, and R2 of 0.04 versus S&P 500 Index. Calculated based on daily prices since September 16, 2002.
- This fund captured 15.56% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -4.41%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.07 may look defensive, but with R2 of 0.04 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 0.04 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.
- Alpha
- 4.61%
- Beta
- 0.07
- R²
- 0.04
- Upside Capture
- 15.56%
- Downside Capture
- -4.41%
Expense Ratio
HSTRX has an expense ratio of 0.75%, placing it in the medium range.
Return for Risk
Risk / Return Rank
HSTRX ranks 89 for risk / return — in the top 89% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Hussman Strategic Total Return Fund (HSTRX) 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.
| HSTRX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +1.29 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.37 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 5.65 | 2.78 | +2.86 |
| Martin ratioReturn relative to average drawdown | 14.62 | 12.44 | +2.18 |
Dividends
Dividend History
Hussman Strategic Total Return Fund provided a 2.37% dividend yield over the last twelve months, with an annual payout of $0.41 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.41 | $0.38 | $0.42 | $0.35 | $0.29 | $0.20 | $0.08 | $0.17 | $0.14 | $0.04 | $0.03 | $0.05 |
Dividend yield | 2.37% | 2.25% | 2.91% | 2.54% | 2.15% | 1.33% | 0.52% | 1.29% | 1.20% | 0.37% | 0.25% | 0.42% |
Monthly Dividends
The table displays the monthly dividend distributions for Hussman Strategic Total Return 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 | $0.07 | $0.00 | $0.00 | $0.00 | $0.07 | ||||||
| 2025 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.12 | $0.38 |
| 2024 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.08 | $0.42 |
| 2023 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.10 | $0.35 |
| 2022 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.06 | $0.29 |
| 2021 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.04 | $0.20 |
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 Hussman Strategic Total Return 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 Hussman Strategic Total Return Fund was 13.53%, occurring on Sep 27, 2022. Recovery took 451 trading sessions.
The current Hussman Strategic Total Return Fund drawdown is 1.53%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -13.53%Sep 2022 | 6mo 22d | 1y 9mo | 2y 4moMar 2022 - Jul 2024 |
Financial crisis2007–2009 | -11.53%Oct 2008 | 1mo 4d | 3mo 17d | 4mo 21dSep 2008 - Feb 2009 |
2013 correction2013 | -10.58%Sep 2013 | 1y 10mo | 2y 7mo | 4y 5moNov 2011 - Apr 2016 |
COVID crash2020 | -7.18%Mar 2020 | 9d | 19d | 28dMar 2020 - Apr 2020 |
Rate-hike selloffLate 2018 | -7.18%Sep 2018 | 2y 2mo | 5mo 11d | 2y 7moJul 2016 - Feb 2019 |
Drawdown Indicators
| HSTRX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.53% | -56.78% | +43.25% |
Max Drawdown (1Y)Largest decline over 1 year | -2.42% | -9.10% | +6.68% |
Max Drawdown (3Y)Largest decline over 3 years | -4.24% | -18.90% | +14.66% |
Max Drawdown (5Y)Largest decline over 5 years | -13.53% | -25.43% | +11.90% |
Max Drawdown (10Y)Largest decline over 10 years | -13.53% | -33.92% | +20.39% |
Current DrawdownCurrent decline from peak | -1.53% | -1.80% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -2.69% | -10.71% | +8.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 2.03% | -1.10% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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