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Sierra Tactical Bond Fund (STBNX) Sortino Ratio: 2.28

Mutual Fund · Currency in USD · Last updated Jul 17, 2026

The fund invests in open-end investment companies (mutual funds) and exchange-traded funds ("ETFs") that primarily invest in high-yield corporate bonds, also commonly known as junk bonds ("HYCB Funds") or long-duration U.S. Treasury securities ("Treasury Bond Funds"). Under normal circumstances, the fund invests at least 80% of its net assets (defined as net assets plus the amount of any borrowing for investment purposes) in underlying bond funds.

STBNX's Sortino Ratio of 2.28 indicates that for each unit of downside volatility, it generates 2.28 units of excess return. The ratio is calculated using historical daily returns over the past 12 months (as of Jul 17, 2026).

Unlike other measures, Sortino only focuses on downside volatility (losses), making it particularly useful for investors more concerned about protecting against drawdowns than overall price swings.

STBNX Sortino Ratio Rank

STBNX Sortino Ratio Rank: 48.548
Average

STBNX ranks above 48.5% of all investments in our database based on Sortino Ratio over the past 12 months, indicating moderate downside protection relative to peers. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with minimal downside volatility → Higher rank
  • Severe or frequent drawdowns → Lower rank
  • Upside volatility → No impact (Sortino doesn't penalize upside swings)

What you can do with this information

  • Returns are proportional to downside risk—neither strong nor weak
  • Evaluate whether downside volatility aligns with your risk tolerance
  • Review higher-ranked alternatives in the same category
  • Monitor rank direction to identify improving or deteriorating trends

STBNX Sortino Ratio Market Positioning

The chart shows STBNX's Sortino Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better downside-adjusted returns.

  • Red zone (bottom 25%): 1.71 or lower
  • Yellow zone (middle 50%): 1.71 to 2.91
  • Green zone (top 25%): 2.91 or higher
  • Top 1%: 8.77+
  • Median: 2.38 — half of all investments score higher

How it compares to other similar mutual funds

The table compares Sierra Tactical Bond Fund's Sortino Ratio with other mutual funds in the Nontraditional Bonds category across multiple time periods, showing how STBNX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jul 17, 2026.

SymbolName1Y Sortino Ratio5Y Sortino Ratio10Y Sortino RatioAll Time Sortino Ratio
CELFXCliffwater Enhanced Lending Fund35.94
CBYYXVictory Pioneer Cat Bond Fund Class Y32.45
SCFZXPGIM Securitized Credit Fund19.72
EIGMXEaton Vance Global Macro Absolute Return Fund9.82
EGRIXEaton Vance Global Macro Absolute Return Advantage Fund7.59
APFPXArtisan Global Unconstrained Fund6.70
DFLEXDoubleLine Flexible Income Fund6.32
GMODXGMO Opportunistic Income Fund6.08
PADZXPGIM Absolute Return Bond Fund5.80
AFLIXAnfield Universal Fixed Income Fund5.20
STBNXSierra Tactical Bond Fund2.28

S&P 500 Index

How to choose period

Historical Sortino Ratio

The chart shows STBNX's rolling Sortino ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to downside risk, while declining trends may signal deteriorating risk-adjusted performance or increased volatility during market stress. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when STBNX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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