- ISIN
- US46141Q8160
- Issuer
- Palmer Square
- Inception Date
- Oct 7, 2016
- Category
- Ultrashort Bond
- Min. Investment
- $250,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
PSDSX Performance Chart
Palmer Square Ultra-Short Duration Investment Grade Fund (PSDSX) is up 1.0% since the beginning of the year. PSDSX is currently trading at $20 per share. Investors who bought $1,000 worth of PSDSX shares 5 years ago would now be looking at an investment worth $1,141.
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Returns By Period
Palmer Square Ultra-Short Duration Investment Grade Fund (PSDSX) has returned 1.01% so far this year and 3.41% over the past 12 months.
Palmer Square Ultra-Short Duration Investment Grade Fund
- 1D
- 0.05%
- 1M
- 0.35%
- YTD
- 1.01%
- 6M
- 1.09%
- 1Y
- 3.41%
- 3Y*
- 3.82%
- 5Y*
- 2.68%
- 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%
PSDSX Monthly Returns History
Based on dividend-adjusted daily data since Jan 3, 2017, PSDSX's average daily return is +0.01%, while the average monthly return is +0.19%. At this rate, an investment would double in approximately 30.4 years.
Historically, 81% of months were positive and 19% were negative. The best month was Apr 2020 with a return of +1.4%, while the worst month was Mar 2020 at -2.2%. The longest winning streak lasted 38 consecutive months, and the longest losing streak was 9 months.
On a daily basis, PSDSX closed higher 28% of trading days. The best single day was Mar 22, 2024 with a return of +1.3%, while the worst single day was Dec 27, 2024 at -1.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.35% | 0.30% | -0.60% | 0.40% | 0.35% | 0.20% | 1.01% | ||||||
| 2025 | 0.50% | 0.35% | -0.65% | 0.35% | 0.45% | 0.40% | 0.35% | 0.40% | 0.42% | 0.35% | 0.25% | 0.43% | 3.67% |
| 2024 | 0.61% | 0.40% | 0.47% | 0.45% | 0.50% | 0.43% | 0.55% | 0.50% | 0.54% | 0.40% | 0.45% | -0.95% | 4.43% |
| 2023 | 0.71% | 0.15% | 0.36% | 0.25% | 0.46% | -0.50% | 0.61% | 0.45% | 0.48% | 0.40% | 0.60% | 0.61% | 4.69% |
| 2022 | -0.15% | -0.15% | -0.16% | -0.15% | -0.25% | -0.34% | 0.15% | 0.41% | -0.55% | -0.15% | 0.61% | 0.46% | -0.28% |
| 2021 | 0.05% | 0.00% | -0.01% | 0.00% | 0.10% | -0.05% | 0.05% | 0.00% | 0.04% | -0.05% | -0.05% | -0.02% | 0.05% |
Benchmark Metrics
Palmer Square Ultra-Short Duration Investment Grade Fund has an annualized alpha of 2.25%, beta of 0.00, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since January 03, 2017.
- This fund captured 6.11% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -0.91%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.00 may look defensive, but with R2 of 0.00 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 0.00 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
- 2.25%
- Beta
- 0.00
- R²
- 0.00
- Upside Capture
- 6.11%
- Downside Capture
- -0.91%
Expense Ratio
PSDSX has an expense ratio of 0.53%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PSDSX ranks 96 for risk / return — in the top 96% 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 Palmer Square Ultra-Short Duration Investment Grade Fund (PSDSX) 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.
| PSDSX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.65 | ||
| Omega ratioGain probability vs. loss probability | 4.15 | 1.37 | +2.78 |
| Calmar ratioReturn relative to maximum drawdown | 4.83 | 2.78 | +2.05 |
| Martin ratioReturn relative to average drawdown | 22.84 | 12.44 | +10.40 |
Dividends
Dividend History
Palmer Square Ultra-Short Duration Investment Grade Fund provided a 3.54% dividend yield over the last twelve months, with an annual payout of $0.71 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.71 | $0.71 | $0.81 | $0.71 | $0.33 | $0.10 | $0.24 | $0.50 | $0.43 | $0.30 |
Dividend yield | 3.54% | 3.57% | 4.06% | 3.57% | 1.70% | 0.50% | 1.21% | 2.51% | 2.18% | 1.50% |
Monthly Dividends
The table displays the monthly dividend distributions for Palmer Square Ultra-Short Duration Investment Grade 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.27 | $0.71 |
| 2024 | $0.00 | $0.00 | $0.24 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.31 | $0.00 | $0.00 | $0.00 | $0.81 |
| 2023 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.25 | $0.00 | $0.00 | $0.30 | $0.71 |
| 2022 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.14 | $0.33 |
| 2021 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.03 | $0.10 |
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 Palmer Square Ultra-Short Duration Investment Grade 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 Palmer Square Ultra-Short Duration Investment Grade Fund was 3.03%, occurring on Mar 24, 2020. Recovery took 52 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -3.03%Mar 2020 | 19d | 2mo 16d | 3mo 5dMar 2020 - Jun 2020 |
Bear market2022 | -1.52%Oct 2022 | 1y 1mo | 2mo 24d | 1y 3moSep 2021 - Jan 2023 |
2024 pullback2024 | -1.29%Dec 2024 | 0s | 5mo 22d | 5mo 22dDec 2024 - Jun 2025 |
2024 pullback2024 | -1.20%Mar 2024 | 0s | 2mo 17d | 2mo 17dMar 2024 - Jun 2024 |
2023 pullback2023 | -1.00%Jun 2023 | 0s | 2mo 1d | 2mo 1dJun 2023 - Aug 2023 |
Drawdown Indicators
| PSDSX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.03% | -56.78% | +53.75% |
Max Drawdown (1Y)Largest decline over 1 year | -0.80% | -9.10% | +8.30% |
Max Drawdown (3Y)Largest decline over 3 years | -1.29% | -18.90% | +17.61% |
Max Drawdown (5Y)Largest decline over 5 years | -1.52% | -25.43% | +23.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -10.71% | +10.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.16% | 2.03% | -1.87% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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