Brandes Separately Managed Account Reserve Trust (SMARX)

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Brandes Separately Managed Account Reserve Trust (SMARX) is up 0.9% since the beginning of the year. SMARX is currently trading at $8 per share. Investors who bought $1,000 worth of SMARX shares 5 years ago would now be looking at an investment worth $1,090.

Brandes Separately Managed Account Reserve Trust (SMARX) has returned 0.87% so far this year and 4.99% over the past 12 months. Over the last ten years, SMARX has returned 2.99% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Oct 5, 2005, SMARX'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, 63% of months were positive and 37% were negative. The best month was Apr 2009 with a return of +8.3%, while the worst month was Sep 2008 at -12.7%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 6 months.

On a daily basis, SMARX closed higher 41% of trading days. The best single day was Jan 11, 2008 with a return of +2.6%, while the worst single day was Sep 26, 2008 at -3.4%.

Brandes Separately Managed Account Reserve Trust has an annualized alpha of 1.84%, beta of 0.02, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since October 05, 2005.

• This fund participated in 35.90% of S&P 500 Index downside but only 24.14% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.02 may look defensive, but with R2 of 0.01 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 0.01 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.

SMARX has an expense ratio of 0.00%, meaning no management fees are charged.

SMARX ranks 27 for risk / return — below 27% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

Brandes Separately Managed Account Reserve Trust provided a 4.76% dividend yield over the last twelve months, with an annual payout of $0.38 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for Brandes Separately Managed Account Reserve Trust. 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 Brandes Separately Managed Account Reserve Trust. 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 Brandes Separately Managed Account Reserve Trust was 47.07%, occurring on Mar 9, 2009. Recovery took 1234 trading sessions.

The current Brandes Separately Managed Account Reserve Trust drawdown is 0.45%.

The chart below shows the rolling one-month volatility.