Equity Fund

Spectrum Active Advantage Fund

Date
Current Day NAV Date
1 Day NAV Change
NAV Total Return (YTD)
__PowerAppsId__
08/8/202217.390.29%-31.45%1

Morningstar™ Rating

Slide 3
An adaptive equity fund focused on generating alpha and protecting against catastrophic risk through its portfolio structure and trading methodologies.

The Spectrum Active Advantage Fund attempts to provide the investor with an active advantage in their portfolio by gaining equity exposure through index futures, ETFs, and select stocks. Portfolio decisions are made with a short to intermediate term outlook driven by a broad range of technical indicators, and cash is efficiently managed using low-risk fixed income strategies.

30+ years of market research

Streamlined Diversification

Managing Significant Market Risk

Slide 1
Most Recent Monthly Commentary Now Available.
Slide 2

The Spectrum Active Advantage Fund (SAPEX) received the Lipper Award for Best Fund Over 3 years in the Absolute Return Funds category.

The Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Lipper Fund Award.

previous arrow
next arrow

Performance

*Source: Bloomberg Finance, L.P. The chart uses total return NAV performance and assumes reinvestment of dividends and capital gains. Since Inception: June 1, 2015. Expense Ratio: 1.77%. Please see standard performance table below. Past performance is no indication of future results.

Returns

Annual performance at net asset value (all distributions reinvested)

12/31/2021
2016
2017
2018
2019
2020
2021
__PowerAppsId__
SAPEX8.54%15.32%-4.44%27.65%34.00%17.23%1
S&P 500 TR (SPXT)11.96%21.83%-4.38%31.49%18.40%28.71%2
New York Stock Composite Index (NYSE)11.94%18.73%-8.95%25.51%6.99%20.68%3
Annnual Performance at net asset value (all distributions reinvested)

Annualized total return performance

6/30/2022
SAPEX
S&P 500
NYSE
__PowerAppsId__
Qtr-19.87%-16.10%-12.54%1
YTD-33.70%-19.96%-14.56%2
1 Year-32.65%-10.62%-10.49%3
3 Year4.03%10.57%5.97%4
5 Year6.45%11.30%6.78%5
Since Inception5.55%10.66%6.46%6
Annualized total return performance

Inception date for SAPEX: June 1, 2015. Expense Ratio: 1.77%. The Fund changed from Spectrum Advisors Preferred Fund on April 14, 2022.

Key Facts

5-Year Calculations of SAPEX vs. New York Stock Composite Index (NYSE)

Values
__PowerAppsId__
Date
Fund AUM9.68106/30/2022
Standard Deviation18.072
Sharpe Ratio0.383
Beta0.864
R-Squared0.655
Up Market Capture89.92%6
Down Market Capture86.02%7

Share Class

Investor (SAPEX)
Asset Class
Equity
Lipper Classification
Absolute Return Funds
Benchmark S&P 500 Total Return Index 
CUSIP 00771F798

Open to New Investors?

Yes

Statistics & Highlights

Highlights of three-year performance periods (6/1/2015 – 6/30/2022)

Title
Best 3-year return
Best period end date
Worst 3-year return
Worst period end date
Average 3-year return
% of 3-year periods with positive returns
Number of positive 3-year periods
% of 3-year periods with negative returns
Number of negative 3-year periods
__PowerAppsId__
Rolling 3-year periods using quarterly returns (6/30/15 - 6/30/2022)*100.52%12/31/202112.61%06/30/202243.08%100.00%170.00%01

*Based on three-year returns for quarterly rolling periods.

Fees

As of current prospectus

Management Fees

1.50%

Other Expenses

Shareholder Service Expenses†

Remaining Other Expenses‡

0.27%

0.03%

0.24%

Total Gross Expense Ratio

1.77%

† Shareholder Service Expenses may include sub-transfer agent and sub-custodian fees.

‡ The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund and does not include the indirect costs of investing in other investment companies.

Fund Ratings.

 

The Fund received a 3-Star Overall Morningstar Rating as of 6/30/2022. Spectrum Active Advantage Fund (SAPEX) was rated against the following numbers of U.S.-domiciled Tactical Allocation funds over the following periods: 244 funds in the last three years and 213 in the last five years. With respect to these Tactical Allocation fundsSpectrum Active Advantage Fund received a 3-Star rating overall and a 2-Star rating for 3 years, and a 3-Star rating for 5 years. Past performance is no guarantee of future results.

Portfolio Managers

 

RALPH DOUDERA

CHRIS HENDRIX, CMT

MARY COLLINS

CRISTIN MCGINNIS

Literature

 

Product Overview

Monthly Commentary

Fund Fact Sheet

 The performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value will fluctuate, so that shares, when redeemed, may by worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted and assumes the reimbursement of any dividend and/or capital gains distributions. To obtain performance data current to most recent month-end, please call toll free 1‑888-572-8868.

 

© 2022 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. The Morningstar RatingTM for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Morningstar Rating is for the Service share class only; other classes may have different performance characteristics.

 

Consider these risks before investing: Bond risk, derivatives risk, equity risk, inverse ETF risk, junk bond risk, leverage risk, management risk, market risk, mutual fund and ETF risk, short position risk, small and medium capitalization risk, and turnover risk. There is no guarantee the fund will achieve its investment objective. You can lose money by investing in the fund. Please carefully review the prospectus for detailed information about these risks.

 

S&P TR 500 Index is a capitalization weighted index of 500 stocks representing all major domestic industry groups. The S&P 500 TR assumes the reinvestment of dividends and capital gains. It is not possible to directly invest in any index.

The NYSE Composite Index (NYATR) measures the performance of all stocks listed on the New York Stock Exchange. It includes more than 1,900 stocks, of which over 1,500 are U.S. companies. Its breadth therefore makes it a much better indicator of market performance than narrow indexes that have far fewer components. The weights of the index constituents are calculated on the basis of their free-float market capitalization. The index itself is calculated on the basis of price return and total return, which includes dividends.

Portfolio statistics are based on 5 year calculations from Morningstar, FastTrack Data, and Bloomberg Finance, L.P.

 

Standard Deviation: is also known as historical volatility and is used by investors as a gauge for the amount of expected volatility. It is a measure of the dispersion of a set of data from its mean. Sharpe Ratio: a risk-adjusted measure calculated by dividing a fund’s annualized excess returns over the risk-free rate by its annualized standard deviation. The higher the Sharpe ratio, the better the fund’s historical risk-adjusted performance. Beta: a statistic that measures volatility of the fund, as compared to that of the overall market. The market’s beta is set at 1; a higher beta than 1 is considered to be more volatile than the market, while a beta lower than 1 is considered to be less volatile. R-Squared: a measurement of how closely a fund’s performance correlates with an index. It can range between 0 and 1. An r-squared of 1 indicates perfect correlation, while 0 indicates no correlation. Up Market Capture: a statistical measure of an investment manager’s overall performance in up markets. The up market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index rose. Down Market Capture: a statistical measure of an investment manager’s overall performance in down markets. The down market capture ratio is used to evaluate how well or poorly an investment manager performed relative to an index during periods when that index has dropped.

Distributor: Ceros Financial Services, Inc.

 

Ceros Financial Services, Inc. (Member FINRA/SIPC). Ceros has no affiliation with Spectrum Financial, Inc., the Fund’s subadvisor. Advisors Preferred, LLC is the Fund’s advisor and a commonly held affiliate of Ceros.

Request a prospectus or a summary prospectus from your financial representative or by calling Ultimus Fund Solutions, LLC. at 855- 582-8006 or access www.thespectrumfunds.com. These prospectuses include investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing. Ultimus Fund Solutions, LLC serves as transfer agent to the Fund and is not affiliated with the advisor, subadvisor or distributor.