- ISIN
- US66537T5627
- CUSIP
- 66537T562
- Issuer
- Sierra Trust
- Inception Date
- Dec 23, 2007
- Category
- Tactical Allocation
- Min. Investment
- $10,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
SIRIX Performance Chart
Sierra Tactical All Asset Fund (SIRIX) is up 5.1% since the beginning of the year. SIRIX is currently trading at $24 per share. Investors who bought $1,000 worth of SIRIX shares 5 years ago would now be looking at an investment worth $1,100.
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Returns By Period
Sierra Tactical All Asset Fund (SIRIX) has returned 5.06% so far this year and 12.51% over the past 12 months. Over the last ten years, SIRIX has returned 2.78% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Sierra Tactical All Asset Fund
- 1D
- 0.72%
- 1M
- 1.11%
- YTD
- 5.06%
- 6M
- 4.88%
- 1Y
- 12.51%
- 3Y*
- 6.11%
- 5Y*
- 1.93%
- 10Y*
- 2.78%
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%
SIRIX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 2008, SIRIX'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, 61% of months were positive and 39% were negative. The best month was Apr 2009 with a return of +11.1%, while the worst month was Mar 2026 at -4.4%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 6 months.
On a daily basis, SIRIX closed higher 51% of trading days. The best single day was Apr 9, 2009 with a return of +3.5%, while the worst single day was Apr 20, 2009 at -3.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.72% | 1.69% | -4.36% | 3.32% | 2.74% | 0.04% | 5.06% | ||||||
| 2025 | 1.84% | -0.62% | -2.57% | -2.66% | 1.56% | 2.18% | -0.05% | 1.88% | 1.66% | 0.89% | 0.31% | 0.36% | 4.74% |
| 2024 | 0.46% | 1.23% | 1.62% | -2.10% | 2.28% | 1.16% | 1.46% | -0.39% | 1.35% | -1.96% | 2.58% | -2.72% | 4.90% |
| 2023 | 3.11% | -2.52% | -0.57% | 0.98% | -1.57% | 1.44% | 1.12% | -1.06% | -1.82% | -1.15% | 2.70% | 3.67% | 4.17% |
| 2022 | -1.62% | -0.61% | 0.83% | -1.26% | -0.09% | -3.08% | 0.77% | -1.85% | -0.88% | 0.46% | 2.07% | -1.70% | -6.82% |
| 2021 | 0.50% | -0.54% | -0.05% | 1.26% | 0.74% | 0.84% | -0.21% | 0.21% | -1.31% | 0.13% | -1.76% | 0.72% | 0.48% |
Benchmark Metrics
Sierra Tactical All Asset Fund has an annualized alpha of 3.00%, beta of 0.09, and R2 of 0.18 versus S&P 500 Index. Calculated based on daily prices since January 02, 2008.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (23.14%) than losses (22.34%) - typical of diversified or defensive assets.
- Beta of 0.09 may look defensive, but with R2 of 0.18 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 0.18 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
- 3.00%
- Beta
- 0.09
- R²
- 0.18
- Upside Capture
- 23.14%
- Downside Capture
- 22.34%
Expense Ratio
SIRIX has a high expense ratio of 1.70%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
SIRIX ranks 43 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Sierra Tactical All Asset Fund (SIRIX) 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.
| SIRIX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.37 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 2.78 | -0.50 |
| Martin ratioReturn relative to average drawdown | 8.38 | 12.44 | -4.06 |
Dividends
Dividend History
Sierra Tactical All Asset Fund provided a 2.59% dividend yield over the last twelve months, with an annual payout of $0.61 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.61 | $0.60 | $0.64 | $0.59 | $0.34 | $0.59 | $0.33 | $0.58 | $0.49 | $0.57 | $0.48 | $0.56 |
Dividend yield | 2.59% | 2.65% | 2.88% | 2.71% | 1.59% | 2.52% | 1.37% | 2.51% | 2.23% | 2.41% | 2.15% | 2.53% |
Monthly Dividends
The table displays the monthly dividend distributions for Sierra Tactical All Asset 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 | $0.18 | $0.00 | $0.00 | $0.00 | $0.18 | ||||||
| 2025 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.21 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.11 | $0.60 |
| 2024 | $0.00 | $0.00 | $0.17 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.16 | $0.64 |
| 2023 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.21 | $0.59 |
| 2022 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.22 | $0.34 |
| 2021 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.26 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.14 | $0.59 |
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 Sierra Tactical All Asset 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 Sierra Tactical All Asset Fund was 11.31%, occurring on Oct 27, 2023. Recovery took 171 trading sessions.
The current Sierra Tactical All Asset Fund drawdown is 0.55%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 correction2023 | -11.31%Oct 2023 | 2y 4mo | 8mo 12d | 3y 22dJun 2021 - Jul 2024 |
Financial crisis2007–2009 | -8.46%Mar 2009 | 1y 12d | 1mo 2d | 1y 1moFeb 2008 - Apr 2009 |
2025 selloff2025 | -7.99%Apr 2025 | 4mo 10d | 5mo 7d | 9mo 17dDec 2024 - Sep 2025 |
Rate-hike selloffLate 2018 | -6.46%Dec 2018 | 10mo 15d | 8mo 28d | 1y 7moJan 2018 - Sep 2019 |
COVID crash2020 | -6.36%Apr 2020 | 1mo 16d | 7mo 15d | 9mo 1dFeb 2020 - Nov 2020 |
Drawdown Indicators
| SIRIX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.31% | -56.78% | +45.47% |
Max Drawdown (1Y)Largest decline over 1 year | -5.42% | -9.10% | +3.68% |
Max Drawdown (3Y)Largest decline over 3 years | -7.99% | -18.90% | +10.91% |
Max Drawdown (5Y)Largest decline over 5 years | -11.30% | -25.43% | +14.13% |
Max Drawdown (10Y)Largest decline over 10 years | -11.31% | -33.92% | +22.61% |
Current DrawdownCurrent decline from peak | -0.55% | -1.80% | +1.25% |
Average DrawdownAverage peak-to-trough decline | -2.43% | -10.71% | +8.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.47% | 2.03% | -0.56% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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