Rational/Pier 88 Convertible Securities Fund (PBXIX)
Under normal conditions, the fund seeks to achieve its investment objective by investing at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in convertible securities. Convertible securities are "hybrid" securities that possess both fixed income and equity characteristics. The fund will generally invest primarily in investment-grade instruments. It is non-diversified.
Fund Info
| ISIN | US6282553907 |
|---|---|
| CUSIP | 628255390 |
| Issuer | Rational Funds |
| Inception Date | Dec 5, 2019 |
| Category | Convertible Bonds |
| Min. Investment | $1,000 |
| Asset Class | Bond |
Expense Ratio
PBXIX has a high expense ratio of 0.99%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
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.
Returns By Period
Rational/Pier 88 Convertible Securities Fund had a return of 2.74% year-to-date (YTD) and 8.90% in the last 12 months.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 2.74% | 11.18% |
| 1 month | 2.97% | 5.60% |
| 6 months | 6.88% | 17.48% |
| 1 year | 8.90% | 26.33% |
| 5 years (annualized) | N/A | 13.16% |
| 10 years (annualized) | N/A | 10.99% |
Monthly Returns
The table below presents the monthly returns of PBXIX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | -0.29% | 1.24% | 1.49% | -2.05% | 2.74% | ||||||||
| 2023 | 1.15% | -1.23% | -1.30% | -0.49% | -1.67% | 1.67% | 0.99% | -1.66% | -0.37% | -1.00% | 4.45% | 2.92% | 3.29% |
| 2022 | -3.68% | -0.09% | 1.65% | -5.31% | 0.18% | -5.68% | 3.46% | -0.28% | -5.37% | 4.06% | 1.90% | -1.59% | -10.82% |
| 2021 | 0.00% | 2.91% | -0.79% | 2.77% | -1.06% | 0.60% | 1.73% | 0.97% | -2.34% | 4.61% | -2.28% | 2.93% | 10.23% |
| 2020 | 0.79% | -4.00% | -10.37% | 8.39% | 5.75% | 2.28% | 6.00% | 0.64% | -2.23% | 0.37% | 5.87% | 3.91% | 17.09% |
| 2019 | 1.70% | 1.70% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of PBXIX is 48, suggesting that the investment has average results relative to other mutual funds in terms of risk-adjusted performance. This ranking is determined by the cumulative values of the indicators listed below.
PBXIX (Rational/Pier 88 Convertible Securities Fund)
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Rational/Pier 88 Convertible Securities Fund (PBXIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
Rational/Pier 88 Convertible Securities Fund granted a 2.31% dividend yield in the last twelve months. The annual payout for that period amounted to $0.25 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Dividend | $0.25 | $0.23 | $0.23 | $0.90 | $0.21 |
Dividend yield | 2.31% | 2.23% | 2.25% | 7.56% | 1.77% |
Monthly Dividends
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.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.08 | |||||||
| 2023 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.09 | $0.23 |
| 2022 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.12 | $0.23 |
| 2021 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.80 | $0.90 |
| 2020 | $0.09 | $0.00 | $0.00 | $0.11 | $0.21 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way.
Worst Drawdowns
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 74 trading sessions.
The current Rational/Pier 88 Convertible Securities Fund drawdown is 5.85%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -24.03% | Feb 18, 2020 | 25 | Mar 23, 2020 | 74 | Jul 8, 2020 | 99 |
| -15.57% | Nov 18, 2021 | 228 | Oct 14, 2022 | — | — | — |
| -6.21% | Sep 3, 2020 | 15 | Sep 24, 2020 | 12 | Oct 12, 2020 | 27 |
| -5.5% | Feb 16, 2021 | 15 | Mar 8, 2021 | 100 | Jul 29, 2021 | 115 |
| -4.71% | Oct 14, 2020 | 13 | Oct 30, 2020 | 11 | Nov 16, 2020 | 24 |
Volatility
Volatility Chart
The current Rational/Pier 88 Convertible Securities Fund volatility is 1.79%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.