- Issuer
- Advisors Preferred
- Inception Date
- Apr 15, 2021
- Category
- Nontraditional Bonds
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
SUNBX Performance Chart
Spectrum Unconstrained Fund (SUNBX) is up 1.6% since the beginning of the year. SUNBX is currently trading at $20 per share. Investors who bought $1,000 worth of SUNBX shares 5 years ago would now be looking at an investment worth $1,178.
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Returns By Period
Spectrum Unconstrained Fund (SUNBX) has returned 1.57% so far this year and 7.43% over the past 12 months.
Spectrum Unconstrained Fund
- 1D
- 0.20%
- 1M
- 1.41%
- YTD
- 1.57%
- 6M
- 1.82%
- 1Y
- 7.43%
- 3Y*
- 6.21%
- 5Y*
- 3.33%
- 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%
SUNBX Monthly Returns History
Based on dividend-adjusted daily data since Apr 16, 2021, SUNBX's average daily return is +0.01%, while the average monthly return is +0.30%. At this rate, an investment would double in approximately 19.3 years.
Historically, 56% of months were positive and 44% were negative. The best month was Nov 2023 with a return of +5.6%, while the worst month was Feb 2022 at -3.9%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, SUNBX closed higher 46% of trading days. The best single day was Dec 15, 2023 with a return of +1.5%, while the worst single day was Mar 3, 2026 at -1.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.36% | 0.80% | -3.36% | 0.87% | 1.47% | 0.50% | 1.57% | ||||||
| 2025 | 0.48% | 0.32% | -0.48% | -0.16% | 1.70% | 2.77% | -0.56% | 0.00% | 1.12% | 1.06% | 0.40% | 1.40% | 8.31% |
| 2024 | -0.99% | -0.00% | 0.10% | -0.55% | 0.48% | -0.37% | 1.16% | 1.06% | 1.73% | -1.27% | 0.79% | -0.74% | 1.35% |
| 2023 | 5.26% | -1.91% | 0.00% | -0.38% | -1.15% | 1.45% | -0.66% | 0.06% | -1.49% | -0.71% | 5.62% | 4.65% | 10.83% |
| 2022 | -1.59% | -3.90% | -1.89% | -1.49% | 0.95% | -1.33% | 3.20% | -0.44% | -1.04% | -0.33% | 0.67% | -1.54% | -8.55% |
| 2021 | -0.15% | 1.10% | 1.88% | -0.55% | 1.38% | 0.97% | 0.89% | -0.93% | 1.39% | 6.12% |
Benchmark Metrics
Spectrum Unconstrained Fund has an annualized alpha of 1.92%, beta of 0.14, and R2 of 0.21 versus S&P 500 Index. Calculated based on daily prices since April 16, 2021.
- This fund participated in 25.98% of S&P 500 Index downside but only 21.56% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.14 may look defensive, but with R2 of 0.21 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 0.21 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
- 1.92%
- Beta
- 0.14
- R²
- 0.21
- Upside Capture
- 21.56%
- Downside Capture
- 25.98%
Expense Ratio
SUNBX has a high expense ratio of 2.43%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
SUNBX ranks 37 for risk / return — below 37% 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.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Spectrum Unconstrained Fund (SUNBX) 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.
| SUNBX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.37 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 2.78 | -0.81 |
| Martin ratioReturn relative to average drawdown | 4.95 | 12.44 | -7.49 |
Dividends
Dividend History
Spectrum Unconstrained Fund provided a 2.80% dividend yield over the last twelve months, with an annual payout of $0.56 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $0.56 | $0.56 | $0.71 | $0.54 | $0.00 | $1.67 |
Dividend yield | 2.80% | 2.84% | 3.75% | 2.81% | 0.00% | 8.52% |
Monthly Dividends
The table displays the monthly dividend distributions for Spectrum Unconstrained 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.56 | $0.56 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.18 | $0.00 | $0.00 | $0.10 | $0.00 | $0.00 | $0.27 | $0.00 | $0.16 | $0.71 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.12 | $0.00 | $0.23 | $0.54 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2021 | $0.21 | $0.00 | $0.00 | $0.34 | $0.85 | $0.26 | $1.67 |
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 Spectrum Unconstrained 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 Spectrum Unconstrained Fund was 10.36%, occurring on Jun 28, 2022. Recovery took 374 trading sessions.
The current Spectrum Unconstrained Fund drawdown is 0.94%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -10.36%Jun 2022 | 5mo 29d | 1y 5mo | 1y 11moDec 2021 - Dec 2023 |
2026 pullback2026 | -3.84%Mar 2026 | 29d | — | 3mo 27dFeb 2026 - now |
2024 pullback2024 | -2.80%Feb 2024 | 1mo 17d | 6mo 12d | 7mo 29dDec 2023 - Aug 2024 |
2025 selloff2025 | -2.53%Apr 2025 | 6mo 9d | 1mo 8d | 7mo 17dSep 2024 - May 2025 |
2021 pullback2021 | -2.19%Dec 2021 | 1mo 12d | 10d | 1mo 22dNov 2021 - Dec 2021 |
Drawdown Indicators
| SUNBX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.36% | -56.78% | +46.42% |
Max Drawdown (1Y)Largest decline over 1 year | -3.84% | -9.10% | +5.26% |
Max Drawdown (3Y)Largest decline over 3 years | -3.84% | -18.90% | +15.06% |
Max Drawdown (5Y)Largest decline over 5 years | -10.36% | -25.43% | +15.07% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.94% | -1.80% | +0.86% |
Average DrawdownAverage peak-to-trough decline | -3.55% | -10.71% | +7.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 2.03% | -0.50% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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