Rational/Pier 88 Convertible Securities Fund (PBXIX)

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The chart shows the growth of an initial investment of $10,000 in Rational/Pier 88 Convertible Securities Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Rational/Pier 88 Convertible Securities Fund (PBXIX) has returned -2.92% so far this year and 1.01% over the past 12 months.

Based on dividend-adjusted daily data since Dec 6, 2019, PBXIX's average daily return is +0.02%, while the average monthly return is +0.39%. At this rate, your investment would double in approximately 14.8 years.

Historically, 59% of months were positive and 41% were negative. The best month was Apr 2020 with a return of +8.4%, while the worst month was Mar 2020 at -10.4%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 4 months.

On a daily basis, PBXIX closed higher 49% of trading days. The best single day was Mar 24, 2020 with a return of +4.9%, while the worst single day was Mar 12, 2020 at -6.7%.

Rational/Pier 88 Convertible Securities Fund has an annualized alpha of -1.52%, beta of 0.50, and R² of 0.78 versus S&P 500 Index. Calculated based on daily prices since December 09, 2019.

• This fund participated in 57.92% of S&P 500 Index downside but only 41.30% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.50 indicates this fund moves significantly less than S&P 500 Index — a genuinely defensive profile with reduced participation in both market rallies and downturns.

PBXIX has a high expense ratio of 0.99%, indicating above-average management fees.

PBXIX ranks 6 for risk / return — in the bottom 6% 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 Rational/Pier 88 Convertible Securities Fund (PBXIX) and compare them to a chosen benchmark (S&P 500 Index).

Rational/Pier 88 Convertible Securities Fund provided a 6.05% dividend yield over the last twelve months, with an annual payout of $0.63 per share. The fund has been increasing its distributions for 2 consecutive years.

The table displays the monthly dividend distributions for Rational/Pier 88 Convertible Securities 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 Rational/Pier 88 Convertible Securities 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 Rational/Pier 88 Convertible Securities Fund was 24.03%, occurring on Mar 23, 2020. Recovery took 73 trading sessions.

The current Rational/Pier 88 Convertible Securities Fund drawdown is 5.16%.

The chart below shows the rolling one-month volatility.