NAV as of 3/1/2024

1 Day NAV Change as of 3/1/2024

NAV Total Return as of 3/1/2024

SHOW NAV TOTAL RETURN INFO +

YTD (year to date) is a period, starting from the beginning of the current calendar year, and continuing up to the prior day's close.

Morningstar Rating

SHOW RATING INFO+

Overall rating out of 285 Nontraditional Bond funds as of September 30, 2023. An investment's overall Morningstar Rating™, based on risk-adjusted return, is a weighted average of its applicable three-, five- and ten-year (if applicable) Morningstar Rating™ metrics.

 

The Morningstar Rating™ 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 Morningstar Rating™ does not include any adjustment for sales loads. 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.

 

The Sierra Tactical Core Income Fund was rated by Morningstar against the following numbers of U.S.-domiciled Nontraditional Bond funds over the following time periods: 285 funds in the last three years, 245 funds in the last 5 years, and 145 funds in the last 10 years. With respect to these Nontraditional Bond funds, the Tactical Core Income Fund received a Morningstar Rating™ of 3 stars for the three-year period, 3 stars for the five-year period and 4 stars for the ten-year period, respectively. Past performance is no guarantee of future results.

 

Morningstar Rating™ is for the Instl Class Shares only; other classes may have different performance characteristics.

 

©2023 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (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.

 

8215-NLD-11282023

YTD (year to date) is a period, starting from the beginning of the current calendar year, and continuing up to the prior day's close.

Overall rating out of 285 Nontraditional Bond funds as of September 30, 2023. An investment's overall Morningstar Rating™, based on risk-adjusted return, is a weighted average of its applicable three-, five- and ten-year (if applicable) Morningstar Rating™ metrics.

 

The Morningstar Rating™ 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 Morningstar Rating™ does not include any adjustment for sales loads. 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.

 

The Sierra Tactical Core Income Fund was rated by Morningstar against the following numbers of U.S.-domiciled Nontraditional Bond funds over the following time periods: 285 funds in the last three years, 245 funds in the last 5 years, and 145 funds in the last 10 years. With respect to these Nontraditional Bond funds, the Tactical Core Income Fund received a Morningstar Rating™ of 3 stars for the three-year period, 3 stars for the five-year period and 4 stars for the ten-year period, respectively. Past performance is no guarantee of future results.

 

Morningstar Rating™ is for the Instl Class Shares only; other classes may have different performance characteristics.

 

©2023 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (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.

 

8215-NLD-11282023

OVERVIEW

ASSET ALLOCATIONS

HOLDINGS

RATINGS

PERFORMANCE

DISTRIBUTIONS

RESOURCES

OverviewBack To Top

INVESTMENT OBJECTIVES

The Fund's two investment objectives are to provide total return (with income contributing a significant part) and to limit volatility and downside risk.

The Portfolio Managers analyze and allocate portions of the fund’s portfolio to a wide range of income-oriented asset classes. Each decision must serve one or both of the fund’s two goals: to enhance total return and/or to reduce the overall volatility and downside risk of the portfolio.

The Sierra Tactical Core Income Fund seeks to pay a monthly dividend to its shareholders.

PROFILE

Disciplined Risk Management

We believe in disciplined risk management. This includes a tactical approach, rules-based decisions, consistency, and a focus on limiting drawdowns.

 

Rules-Based Investment Process

We focus on trend following, broad asset class diversification, securities exhibiting strong risk-adjusted returns, a Trailing Stop Discipline seeking to limit drawdowns, and the ability to move to 100% cash.

 

Team-Based Portfolio Management

Our investment management team has a combined 160 years of experience. All of our managers convene every day to review every asset class and every holding.

Asset AllocationsBack To Top

MONTHLY ALLOCATION POSITIONS

Allocations are subject to change.


Source: Morningstar Direct

HISTORICAL ALLOCATION POSITIONS

to

Allocations are subject to change.

HoldingsBack To Top

AS OF

Portfolio holdings are subject to change, vary over time and should not be considered a recommendation to buy an individual security.

RatingsBack To Top

Morningstar Rating

Overall rating out of 285 Nontraditional Bond funds as of September 30, 2023. An investment's overall Morningstar Rating™, based on risk-adjusted return, is a weighted average of its applicable three-, five- and ten-year (if applicable) Morningstar Rating™ metrics.

PerformanceBack To Top

PERFORMANCE THROUGH 3/1/2024

NAV
NAV DAILY CHANGE
% DAILY CHANGE
% YTD RETURN

ANNUAL RETURN THROUGH

The Total Annual Operating Expenses are 1.72%; Front-End Sales Charge (commission or “load”) of 3.75%, with lower rates for accounts over $250,000; 12b-1 distribution fee which can be up to 0.40% per year.

Total Annual Operating Expenses are 2.32%, no Sales Charge (commission or "load”); 12b-1 distribution fee which can be up to 1.00% per year.

Total Annual Operating Expenses are 1.72%; no Sales Charge (commission or “load”); 12b-1 distribution fee which can be up to 0.40% per year.

Total Annual Operating Expenses are 1.32%, no Sales Charge (commission or “load”) or 12b-1 fee.

The performance presented above is net of the maximum sales charge ("load") for the respective share class.

The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month-end, please call toll-free 1-866-738-4363 (1-866-RETI-FND).

(1) Represents the percentage increase/decrease in the net asset value from the prior trading day.

(2) Performance for periods of less than one year is not annualized.

(3) The inception date of the Sierra Tactical Core Income Fund Class A is December 2011.

NOTE: The Total Annual Operating Expenses include expenses of the underlying funds, which are currently 1.72% for Class A and Investor Class, 2.32% for Class C, and 1.32% for Instl Class.

DistributionsBack To Top

Distribution Data Not Available.

Record Date: The date the distribution amount is declared.

Ex-Date / Pay Date: The date the distribution is paid to investors.

ResourcesBack To Top

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