- ISIN
- US7072698829
- CUSIP
- 707269882
- Issuer
- Penn Capital Management
- Inception Date
- Jul 17, 2017
- Category
- High Yield Bonds
- Min. Investment
- $10,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
PSHNX Performance Chart
Penn Capital Short Duration High Income Fund (PSHNX) is up 1.8% since the beginning of the year. PSHNX is currently trading at $10 per share. Investors who bought $1,000 worth of PSHNX shares 5 years ago would now be looking at an investment worth $1,268.
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Returns By Period
Penn Capital Short Duration High Income Fund (PSHNX) has returned 1.84% so far this year and 6.11% over the past 12 months.
Penn Capital Short Duration High Income Fund
- 1D
- 0.00%
- 1M
- 0.68%
- YTD
- 1.84%
- 6M
- 2.05%
- 1Y
- 6.11%
- 3Y*
- 7.24%
- 5Y*
- 4.86%
- 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%
PSHNX Monthly Returns History
Based on dividend-adjusted daily data since Jul 20, 2017, PSHNX's average daily return is +0.02%, while the average monthly return is +0.33%. At this rate, an investment would double in approximately 17.5 years.
Historically, 73% of months were positive and 27% were negative. The best month was Jul 2022 with a return of +3.1%, while the worst month was Mar 2020 at -7.8%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 4 months.
On a daily basis, PSHNX closed higher 39% of trading days. The best single day was Mar 26, 2020 with a return of +2.0%, while the worst single day was Mar 16, 2020 at -2.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.31% | 0.42% | -0.57% | 1.10% | 0.37% | 0.21% | 1.84% | ||||||
| 2025 | 1.23% | 0.38% | -0.42% | -0.18% | 1.71% | 1.32% | 0.38% | 0.80% | 0.58% | 0.21% | 0.73% | 0.73% | 7.72% |
| 2024 | 0.54% | 0.17% | 0.93% | -0.10% | 0.80% | 0.79% | 1.25% | 0.94% | 0.87% | -0.01% | 1.00% | -0.19% | 7.19% |
| 2023 | 1.76% | -0.14% | 0.74% | 0.68% | -0.29% | 1.04% | 0.83% | 0.27% | -0.34% | -0.16% | 2.45% | 1.59% | 8.72% |
| 2022 | -1.27% | -0.42% | -0.22% | -1.15% | 0.05% | -3.14% | 3.08% | -0.56% | -1.15% | 1.57% | 0.80% | 0.24% | -2.26% |
| 2021 | 0.16% | 0.27% | 0.56% | 0.48% | 0.36% | 0.49% | 0.15% | 0.26% | 0.02% | 0.23% | -0.61% | 1.01% | 3.43% |
Benchmark Metrics
Penn Capital Short Duration High Income Fund has an annualized alpha of 2.61%, beta of 0.10, and R2 of 0.35 versus S&P 500 Index. Calculated based on daily prices since July 20, 2017.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (17.12%) than losses (15.22%) - typical of diversified or defensive assets.
- Beta of 0.10 may look defensive, but with R2 of 0.35 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 0.35 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
- 2.61%
- Beta
- 0.10
- R²
- 0.35
- Upside Capture
- 17.12%
- Downside Capture
- 15.22%
Expense Ratio
PSHNX has a high expense ratio of 1.01%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
PSHNX ranks 97 for risk / return — in the top 97% 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 Penn Capital Short Duration High Income Fund (PSHNX) 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.
| PSHNX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +2.64 | ||
| Omega ratioGain probability vs. loss probability | 1.79 | 1.37 | +0.42 |
| Calmar ratioReturn relative to maximum drawdown | 5.46 | 2.78 | +2.67 |
| Martin ratioReturn relative to average drawdown | 27.70 | 12.44 | +15.26 |
Dividends
Dividend History
Penn Capital Short Duration High Income Fund provided a 6.06% dividend yield over the last twelve months, with an annual payout of $0.58 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.58 | $0.60 | $0.61 | $0.47 | $0.32 | $0.31 | $0.38 | $0.36 | $0.30 | $0.14 |
Dividend yield | 6.06% | 6.27% | 6.43% | 4.95% | 3.47% | 3.17% | 3.95% | 3.65% | 3.13% | 1.46% |
Monthly Dividends
The table displays the monthly dividend distributions for Penn Capital Short Duration High 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 | $0.04 | $0.05 | $0.05 | $0.05 | $0.05 | $0.00 | $0.23 | ||||||
| 2025 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.05 | $0.06 | $0.05 | $0.03 | $0.07 | $0.60 |
| 2024 | $0.05 | $0.05 | $0.05 | $0.05 | $0.06 | $0.04 | $0.06 | $0.05 | $0.04 | $0.06 | $0.05 | $0.06 | $0.61 |
| 2023 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.05 | $0.05 | $0.47 |
| 2022 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2021 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 | $0.31 |
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 Penn Capital Short Duration High 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 Penn Capital Short Duration High Income Fund was 14.53%, occurring on Mar 23, 2020. Recovery took 194 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -14.53%Mar 2020 | 28d | 9mo 10d | 10mo 8dFeb 2020 - Dec 2020 |
Bear market2022 | -6.02%Jun 2022 | 5mo 27d | 9mo 4d | 1y 2moJan 2022 - Mar 2023 |
2025 selloff2025 | -2.83%Apr 2025 | 1mo 4d | 1mo 5d | 2mo 9dMar 2025 - May 2025 |
Rate-hike selloffLate 2018 | -1.92%Dec 2018 | 2mo 21d | 25d | 3mo 16dOct 2018 - Jan 2019 |
2024 pullback2024 | -1.25%Dec 2024 | 10d | 26d | 1mo 6dDec 2024 - Jan 2025 |
Drawdown Indicators
| PSHNX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.53% | -56.78% | +42.25% |
Max Drawdown (1Y)Largest decline over 1 year | -1.14% | -9.10% | +7.96% |
Max Drawdown (3Y)Largest decline over 3 years | -2.83% | -18.90% | +16.07% |
Max Drawdown (5Y)Largest decline over 5 years | -6.02% | -25.43% | +19.41% |
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 | -0.88% | -10.71% | +9.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 2.03% | -1.80% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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