RESOURCES
At Sierra, we want our clients to have as much information as possible at their fingertips. Below are links to our fund applications, as well as a literature and document search to find what you need.
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Sierra Tactical Risk Spectrum 30 Fund - Instl Class - Fact Sheet
Sierra Tactical Risk Spectrum 30 Fund, Instl Class, Fact Sheet as of December 31, 2022.
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Sierra Tactical Risk Spectrum 50 Fund - Class A & C - Fact Sheet
Sierra Tactical Risk Spectrum 50 Fund, Class A & C, Fact Sheet as of December 31, 2022.
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Investment Professional account required to view
A Tactical Approach to Investing in Munis
A look into the Sierra Tactical Municipal Fund's monthly allocations and how the Fund has performed since inception through December 31, 2022.
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CIO Insights: January 2023
Recorded on January 10, 2023, CIO James St. Aubin looks back on 2022 and touches on what he expects 2023 to bring.
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CIO Insights: January 2023
Recorded on January 10, 2023, CIO James St. Aubin looks back on 2022 and touches on what he expects 2023 to bring.
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Commentary: Breaking the Tape
Rallies in both the stock and bond markets during the fourth quarter of 2022 were a welcome means of closing out a year that offered little else for investors to celebrate.
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Sierra Mutual Funds Annual Report
SIERRA MUTUAL FUNDS PORTFOLIO REVIEW (Unaudited) September 30, 2022
The Case for Tactical Asset Management
This hypothetical piece depicts how Tactical Asset Management can be so beneficial to investors.
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Sierra Mutual Funds Semi-Annual Report
Sierra Mutual Funds semi-annual report through March 31, 2022.
Disciplined Risk Management: The Investment Process
An overview of our disciplined risk management investment process.
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Investment Professional account required to view
Final Capital Gains Distributions for 2022
A summary of the final capital gains for all Sierra Mutual Funds.
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What Investors Can Learn From a Terrible Year
Painful lessons from the markets to take into 2023 and beyond. Investors can’t say goodbye to 2022 fast enough. War. Severe supply shortages. Inflation at the highest levels in 40 years. Interest rates rising at a speed and by a size that was unprecedented. A bear market in stocks. A historic selloff in bonds. The tanking of Big Tech. The collapse of cryptocurrencies. The worst market for raising capital through initial public offerings in 30 years. A still lingering pandemic. The expression “cash is king” made a comeback. That was the year that was.
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10-Year Treasury Yields to Break Even
2022 was the worst year in history for core fixed income and many investors are wondering how far yields need to fall, in order to get back to break even.
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Rules-Based Process in Motion: Sierra Tactical Risk Spectrum 50 Fund Ending December 31, 2022
Reflects how our truly tactical rules-based investment process reacted due to market movement in the Sierra Tactical Risk Spectrum 50 Fund through December 31, 2022.
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Rules-Based Process in Motion: Sierra Tactical Core Income Fund Ending December 31, 2022
Reflects how our truly tactical rules-based investment process reacted due to market movement in the Sierra Tactical Core Income Fund through December 31, 2022.
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Morningstar Fixed Income Categories Report Through December 31, 2022
Morningstar fixed income categories YTD performance through 12/31/2022.
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Sierra Tactical Core Income Fund Performance vs. Fixed Income Sectors Ending December 31, 2022
A visual view of the Sierra Tactical Core Income Fund performance against fixed income categories from 2012 to 2022.
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'Win... By Not Losing'
CIO James St. Aubin reveals his insights on investment strategies, risk management and emotional steadfastness during this thought-provoking podcast interview on the Stansberry Investment Hour.
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A Quick Introduction: Meet Our New CIO and CIS
A Quick Introduction: Meet Our New CIO and CIS, with CIO James St. Aubin and CIS Ryan Harder
A Quick Introduction: Meet Our New CIO and CIS
A Quick Introduction: Meet Our New CIO and CIS, with CIO James St. Aubin and CIS Ryan Harder
CIO Insights: December 2022
CIO James St. Aubin provides insights on recent market activity influenced by the holiday season, as well as an update on the performance of the S&P 500 Index.
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CIO Insights: December 2022
CIO James St. Aubin provides insights on recent market activity influenced by the holiday season, as well as an update on the performance of the S&P 500 Index.
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Q3 2022 Market Update
Chief Investment Officer, James St. Aubin, and Chief Investment Strategist, Ryan Harder, discuss the third quarter of 2022.
Sierra Tactical Bond Fund Receives Five Stars from Morningstar
The Sierra Tactical Bond Fund (Instl, STBJX), launched in 2019, has received a five-star rating from Morningstar. STBJX was rated on a risk adjusted basis out of 312 companies in the Non-Traditional Bond category for the three-year period ending October 31, 2022. The top 10% of funds in each fund category receive five stars, and past performance is no guarantee of future results.
Watching the Public Policy Horizon: Staying Ahead for Your Clients
Join us as we take a look at the evolving public policy landscape impacting financial advisors and their clients, including legislative, SEC, and FINRA changes, NAIC’s “best interest” rule for annuity recommendations, and the U.S. Department of Labor’s Prohibited Transaction Exemption 2020-02.
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Sierra Hires CIO James St. Aubin and CIS Ryan Harder
Sierra Investment Management, Inc. today announced that the firm has hired two investment personnel for the Sierra group of companies: Chief Investment Officer James St. Aubin and Chief Investment Strategist Ryan Harder, effective July 18, 2022. They will be based in Santa Monica, California, where the firm is headquartered.
Municipal Bonds are Anything but Boring
Municipal bonds are supposed to be boring, but they’ve been anything but boring in 2022. The environment has created an opportunity for tax harvesting and for evaluating how you allocate to municipal bonds.
CIO Updates
In this debut edition of CIO Insights, CIO James St. Aubin offers a 90-second take on market performance and current portfolio positioning. Hear how we’ve reacted to the markets’ September lows and the Fed’s hawkish decisions, as fixed income classes sold off and money market yields increased.
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CIO Updates
In this debut edition of CIO Insights, CIO James St. Aubin offers a 90-second take on market performance and current portfolio positioning. Hear how we’ve reacted to the markets’ September lows and the Fed’s hawkish decisions, as fixed income classes sold off and money market yields increased.
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Webinar | Bond Math 2.0
In this webinar, Senior Portfolio Specialist, Bill Phillips, continues to challenge the traditional purposes of fixed income allocation and review how an alternative approach to fixed income can help your clients’ portfolio.
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Webinar | Bond Math 2.0
In this webinar, Senior Portfolio Specialist, Bill Phillips, continues to challenge the traditional purposes of fixed income allocation and review how an alternative approach to fixed income can help your clients’ portfolio.
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What Will it Take for the Agg to Break Even?
There are approximately $1.5 trillion in AUM in the Morningstar Intermediate Core Bond and Intermediate Core-Plus Bond categories. Mutual funds and ETFs in these categories have seen significant declines, and many are wondering what it will take to make back the losses. Using the Bloomberg US Aggregate Bond Index (the Agg) as a proxy for yield-sensitive core fixed income, we’ve provided the charts below as a reference tool.
Sierra Mutual Funds June 30, 2022 Quarterly Holdings Report
The Sierra Mutual Funds Portfolio of Investments (unaudited)
Sierra Tactical Risk Spectrum 30 Fund Profile Sheet
The Fund’s two investment objectives are to provide total investment return and to limit volatility and downside risk.
7074-NLD-10112022
Commentary: Pivot Points
Riding a wave of optimism that lifted most asset prices, financial markets got off to an auspicious start in the third quarter.
Sierra Tactical Risk Spectrum 30 Fund Prospectus
This Summary Prospectus provides important information about the Fund that you should know before investing. Please read it carefully and keep it for future reference.
Sierra Tactical Risk Spectrum 30 Fund Summary Prospectus
This Summary Prospectus provides important information about the Fund that you should know before investing. Please read it carefully and keep it for future reference.
Commentary: Curb Your Enthusiasm!
Fueled by renewed worries over the hawkish impulse of global central banks, investors returned to a selling mood across most asset classes as the summer wound down.
Investment Professional account required to view
Fixed Income Portfolio Construction and the Impact of Rising Rates for the Period Ending 7/31/22
A core fixed income position must have the ability to protect against both stock market volatility and rising interest rates (yields).
The Fed makes a move, but is it too late?
Our latest commentary covers a second half that begins on an optimistic note, the 10-year Treasury note continuing to fall in July, signs that suggested inflation may soon come off the boil, the Fed raising rates for a second consecutive time, debate over whether or not the U.S. is in a recession, a fall in unemployment, and buy signals emerging across all asset classes throughout July as uptrends gained momentum.
Investment Professional account required to view
Examining the Opportunities and Risks in "Satellite Sectors"
Provides an analysis of so called fixed income "satellite sectors", looking at their potential risks and volatility profiles.
Sierra Mutual Funds June 30, 2021 Quarterly Holdings Report
The Sierra Mutual Funds Portfolio of Investments (unaudited)
Investment Professional account required to view
Presentation: 2021 Year-End Review
Our 2021 Review presentation covers the fixed income market in 2021, why predictions don't work, current risks in fixed income, and a review of performance and asset positions.
Investment Professional account required to view
Presentation: It's Not Rocket Science, It's BOND MATH
In this presentation deck our Senior Portfolio Specialist, Bill Phillips, takes you through what bond math is, how rising rates may affect client portfolios, provides examples of bond math, and looks at our rules-based investment approach.
Investment Professional account required to view
Webinar | Bond Math
In this webinar, Bond Math webcast, Senior Portfolio Specialist, Bill Phillips, will help you better understand topics like: What is Bond Math? How yield sensitivity may impact clients' portfolios Bond Math in real life with examples. The traditional purposes of fixed income allocation. And an alternative approach to fixed income, like the one used at Sierra.
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Sierra Tactical Municipal Fund: Performance Snapshot
Monthly performance analysis booklet for the Sierra Tactical Municipal Fund sourced through Morningstar, updated through December 31, 2022.
Commentary: The Fed Lifts Rates, but Are They Behind the Curve?
Our latest commentary covers the Fed's decision on raising rates, the impact of conflict in Ukraine, and how our investment disciplines are poised to handle continued volatility.
Commentary: Floating Rate Notes - A Diversifier for Rising Rates
Our latest commentary looks at how Floating Rate Notes can serve as a good diversifier within fixed income portfolios.
2021 Market and Economic Review (client approved)
This Market and Economic review of 2021 looks back at the key forces that helped shape the year, risks that had impact on markets including COVID, and an outlook for the first quarter of 2022.
Average Returns Can Be Misleading (client approved flyer)
This flyer shows how average return numbers can be misleading vs. the more accurate annualized return when comparing various mutual funds.
Duration and Yield of the Bloomberg U.S. Aggregate Bond Index
This flyer shows the duration and yield of the Bloomberg U.S. Aggregate Bond Index from January 1977 through December 31, 2022.
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Commentary: The Fed Makes a Move, but Is It Too Late?
Our latest commentary cover the Federal Reserve's decision to begin tapering purchases over the coming months, inflations concerns, and other economic risks that may impact the markets.
Sierra Tactical Risk Spectrum 50 Fund - Instl Class - Fact Sheet
Sierra Tactical Risk Spectrum 50 Fund, Instl Class, Fact Sheet as of December 31, 2022.
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Investment Professional account required to view
2021 Advisor Group ConnectED Conference Presetation
Presentation slides from the 2021 Advisor Group ConnectED Conference. Why Predictions Don't Work: Outsourcing Fixed Income in 2021
Investment Professional account required to view
2019 HISTORIC ALLOCATIONS: CALLAN VISUALIZATION
A visual view of tactical allocation shifts for the Sierra Tactical Core Income Fund throughout 2019.
Investment Professional account required to view
2020 HISTORIC ALLOCATIONS: CALLAN VISUALIZATION
A visual view of tactical allocation shifts for the Sierra Tactical Core Income Fund throughout 2020.
Commentary: Markets Have Been Generous to Investors So Far in 2021
Our latest commentary covers pandemic economic recovery, current risks in the markets investors should be aware of, including continued supply chain disruptions, rising COVID cases, and inflation concerns, and why we believe having a repeatable investment process is so important.
Investment Professional account required to view
2021 Mid-Year Review (Presentation)
This presentation deck from our 2021 Mid-Year Update highlights key economic data points from the past six months, shares how our portfolios have navigated, and updates how we are currently positioned to seek opportunities for the second half of the year.
Brochure: Our Truly Tactical Rules-Based Disciplines
Rooted in math and decades of analysis, our truly tactical rules-based investment disciplines are the framework that governs our investment management teams decision for when to buy, what to buy, and of course, when to sell.
Sierra Tactical Risk Spectrum 50 Fund Summary Prospectus
This Summary Prospectus provides important information about the Fund that you should know before investing. Please read it carefully and keep it for future reference.
Commentary: The Good, the Bad, and the Ugly of the COVID-19 Recovery
Economic shutdowns due to the spread of COVID-19 last year led to significant drops in equity and other risk assets’ prices. Our latest commentary covers signs of economic and market improvement, but also some signs that are bad and even ugly for the post-COVID recovery.
Sierra Tactical Risk Spectrum 50 Fund - Profile Sheet
Sierra Tactical Risk Spectrum 50 Fund profile sheet.
Presentation: Our Truly Tactical Rules-Based Disciplines (Co-Branded)
A co-branded version of our truly tactical rules-based investment disciplines presentation, including when to buy, when to sell, and how we make those decisions.
Sierra Tactical Risk Spectrum 50 Fund Prospectus
This Prospectus provides important information about the Fund that you should know before investing. Please read it carefully and keep it for future reference.
Commentary: Municipal Bonds Are In Investors' Sweet Spot
Municipal Bonds had a sell off in March of 2020, but since then have come roaring back, outperforming Treasurys in 11 of the past 12 months. This chart and commentary give insight into why muni bonds are in investors' sweet spot.
Presentation: Our Truly Tactical Rules-Based Disciplines
An overview of our truly tactical rules-based investment disciplines, giving insight into our investment decision-making.
Sierra Mutual Funds December 31, 2021 Quarterly Holdings Report
The Sierra Mutual Funds Portfolio of Investments (unaudited)
Commentary: Risk-on and Risk-off Visualization
This chart visualizes how Long-Term Treasury Rates and High Yield Corporate Bond Spreads often move in opposite directions, as investors move into Treasuries in periods of market stress and tend to move out of High Yield Corporate Bonds during the same periods.
Sierra Tactical Core Income Fund: Investment Returns During Episodes of Rising Interest Rates
Changes in interest rate levels are the primary driver of returns for U.S. Treasury bonds and high-quality corporate bonds. A sharp rise in long-term rates often leads to losses for investors in these “conservative” asset classes.
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Investment Professional account required to view
Advisor Voice Presentation: Rising Rates Discussion (3/16/21)
Presentation slides from the recent Advisor Voice video on rising rates, showing how we don't follow market predictions, but rather rely on our time-tested, truly tactical, rules-based investment discipline to serve advisors and their clients.
Investment Professional account required to view
2020 Q4 Update: Risk Matters. Defense Matters. Discipline Matters.
Sierra Mutual Funds CIO Terri Spath reviews the trends and challenges that happened during the fourth quarter of 2020, including the impact of COVID-19 on global markets.
Commentary: Three Reasons to Own Bonds in 2021
CIO Terri Spath discusses the current state of the fixed income market and offers three reasons why we like bonds in 2021.
Commentary: The Elections and the Broken 40% Bond Allocation
Chief Investment Officer Terri Spath provides four takeaways from the recent Presidential election and what it might mean for the future of the markets, as well as offering a potential alternative solution to a traditional, passive 40% bond allocation.
Commentary: Three Ways to Invest for the Rest of 2020
Chief Investment Officer Terri Spath gives an outlook for the rest of 2020, and three potential way to invest during these turbulent times.
Investment Professional account required to view
2020 Q3 Update: Risk Matters. Defense Matters. Discipline Matters.
Sierra Mutual Funds CIO Terri Spath reviews the trends and challenges that happened during the third quarter of 2020, including the impact of COVID-19 on global markets.
Investment Professional account required to view
Sierra Tactical Municipal Fund: Navigating the Municipal Market, Tactically
The Sierra Tactical Municipal Fund employs a truly tactical, rules-based approach to managing one of the most sensitive & complex asset classes – municipal bonds.
Commentary: Three Investment Ideas in Front of the Election
CIO Terri Spath covers the current state of the markets, and gives three possible ways to participate in investment returns while keeping a close eye on risk.
Investment Professional account required to view
2020 Q2 Update: Risk Matters. Defense Matters. Discipline Matters.
Sierra Mutual Funds CIO Terri Spath reviews the trends and challenges that happened during the second quarter of 2020, including the impact of COVID-19 on global markets.
Commentary: The Answer to a Widespread Question: FAAANM
Chief Investment Officer Terri Spath discusses how the stock market continues to rise despite economic struggles, the current state of the bond market, and how our rules-based investment disciplines are navigating these unprecedented times.
Investment Professional account required to view
Sierra Tactical Bond Fund: Is Your Bond Fund Taking Advantage of Market Volatility?
The embedded complexities of the fixed income markets may make this a difficult proposition to achieve. We can offer your clients an alternative approach to a traditional asset class. The Sierra Tactical Bond Fund employs a truly tactical, rules-based approach to accessing two uncorrelated asset classes: High Yield Corporate Bonds and Long-Duration U.S. Treasury Bonds - updated through March 31, 2022.
Investment Professional account required to view
Presentation: Solving the Core Fixed Income Challenge (9-30-21)
This presentation provides perspective on the challenges facing Financial Advisors when building a well-diversified fixed income allocation that can deliver the benefits of fixed income while protecting against rising rates, defaults, bond market illiquidity, and stock market volatility.
COMMENTARY: Discipline Matters in Zombie Markets
Chief Investment Officer Terri Spath discusses the current state of the economy, what changes you might expect in the coming months, and some recommendations for navigating the ever changing market environment to help mitigate risk while seeking productive returns.
Risk Matters: The Importance of Keeping Losses Small (flyer)
This flyer shows why it's important to keep losses small, and the gains needed to break even after a market decline over 2, 5, and 10 year periods.
Investment Professional account required to view
2020 Q1 UPDATE: RISK MATTERS. DEFENSE MATTERS. DISCIPLINE MATTERS.
Sierra Mutual Funds CIO Terri Spath reviews the trends and challenges that happened during the first quarter of 2020, including the impact of COVID-19 on global markets.
Sierra Tactical Bond Fund: Performance Snapshot
Monthly performance analysis booklet for the Sierra Tactical Bond Fund sourced through Morningstar, updated through December 31, 2022.
Commentary: When It Comes Time to Buy, Will You Do It?
CIO Terri Spath's latest market commentary discusses when might be a good time to buy, and the importance of using a time-tested process, like the one used at Sierra.
Investment Professional account required to view
Special Edition Market Minute: Got the moving market on your mind...
The markets have been unruly this week. In a matter of days, we've seen months of market gains eliminated right before our eyes. It is times like these that we rely on our truly-tactical rules-based investment process and quantitative trailing stops under each holding. Terri shares her perspectives in this Special Edition of the Market Minute.
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Investment Professional account required to view
Market Minute: Diversifying with Preferred Stocks
Preferred stocks offer investors the characteristics of both equities and bonds. Though less volatile than their common stock counterpart, they still need to be managed tactically. CIO Terri Spath shares her insights in this week's Market Minute.
5239-NLD-2/11/2020
Commentary: Puzzled by Fixed Income? A Tactical Resolution for 2020
Reviewing bond holdings doesn’t make most people’s list of New Year resolutions, but it should. Why? Investors often tell us that fixed-income is confusing and that they have heard now is not a good time to buy bonds. The truth is a bond allocation is critical to your financial health, and a truly tactical approach to the asset class can address a lot of the confusion and misgivings about bonds that investors typically have.
Investment Professional account required to view
Sierra Tactical Core Income Fund: An Alternative Approach to a Traditional Asset Class
Correlations can have a meaningful impact on the client experience. Updated through December 31, 2019.
Sierra Tactical Bond Fund - Class A & C - Fact Sheet
Sierra Tactical Bond Fund, Class A & C, Fact Sheet as of December 31, 2022.
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Investment Professional account required to view
Market Minute: Risk Measures: Maximum Drawdown
Happy New Year to you all. It's 2020, and we want we want to share some thoughts with you about Maximum Drawdown. This risk measure looks at the largest observed loss from peak to trough. Terri shares her insights into the importance of Maximum Drawdown in this week's Market Minute.
5109-NLD-01/16/2020
Sierra Tactical Bond Fund - Instl Class - Fact Sheet
Sierra Tactical Bond Fund, Instl Class, Fact Sheet as of December 31, 2022.
1089-NLD-01242023
Investment Professional account required to view
Market Minute: Interest rates and the yield curve
The yield curve inverts when consumers are able to borrow money at a lower interest rate for a longer period of time. It's unusual when it occurs, and it has investors a bit nervous. What affect does it have on the way we manage money for our clients? Terri provides her perspectives.
5306-NLD-4/3/2019
Investment Professional account required to view
Market Minute: Understanding emerging markets investments
When considering investments in emerging markets for your clients, the opportunity for growth is tremendous; but if you are seeking to increase diversification, you may want to look deeper into emerging markets debt. Terri shares her perspective in this week's Market Minute.
5536-NLD-6/27/2019
Investment Professional account required to view
Market Minute: Three popular methods for managing municipal bond
Municipal bonds, often a staple component of the fixed income sleeve of a client's portfolio, aren't exempt from periods of extreme volatility. We've found that financial advisors prefer one of three different methods for managing them. This week, Terri breaks down the features and benefits of each, and shares her personal preference.
5738-NLD-9/17/2019
Investment Professional account required to view
Market Minute: How we manage the interest rate environment
2019's theme seems to be interest rates. They've been up, they've been down, and each move has been at a different velocity. With so much fluctuation, we're often asked how we are able to manage through the challenging environment. Terri explains in this week's Market Minute.
9003-NLD-11/25/2019
Investment Professional account required to view
Market Minute: Sequence of returns risk
Unlike other investing risks, sequence of returns risk isn't a statistical figure that can be found or screened out in Morningstar. It's a risk that is unique to each individual investors experience. Terri explains how we're able to mitigate this overlooked risk in this week's Market Minute.
9044-NLD-12/11/2019
Commentary: Airbags for Your Investments
Investment Commentary: Chief Investment Office Terri Spath discusses some potential hidden risks in the current markets, and how to seek to mitigate those risks.
Investment Professional account required to view
Market Minute: A look at global stock valuations
With stocks reaching record highs, we continue to be asked about global opportunities and the risks associated with them. Valuation metrics are a great way of measuring value. Terri discusses the subject in this week's Market Minute.
5974-NLD-11/14/2019
Investment Professional account required to view
Market Minute: The impact of global negative interest rates
Bond market investing has been made more difficult than ever thanks to global negative interest rate debt. It's putting a crimp on investors who are looking to create income. Our tactical, rule-based process follows a myriad of asset classes, and it helps us identify areas of the market they may provide positive outcomes. Terri discusses in this week's Market Minute.
5924-NLD-11/1/2019
Commentary: Plug Your Portfolio
Investment Commentary: Chief Investment Officer Terri Spath talks about potential ways to guard against drawdowns and market risk in the current environment.
5862-NLD-10/22/2019
Sierra Tactical Municipal Fund - Class A & C - Fact Sheet
Sierra Tactical Municipal Fund, Class A & C, Fact Sheet as of December 31, 2022.
1092-NLD-01242023
Sierra Tactical Bond Fund Prospectus
This Prospectus provides important information about the Fund that you should know before investing. Please read it carefully and keep it for future reference.
Sierra Tactical Bond Fund Summary Prospectus
This Summary Prospectus provides important information about the Fund that you should know before investing. Please read it carefully and keep it for future reference.
Investment Professional account required to view
Hypothetical Portfolio Illustration
This hypothetical illustration is based off a client who needs income and doesn't want volatility. Compares an investment in the Sierra Tactical All Asset Fund to 100% Bloomberg Barclays U.S. Aggregate Bond Index, Morningstar Allocation - 15% to 30% Equity Category, and to Morningstar Tactical Allocation Category. Updated through December 31, 2018.
Rolling 12 month Historic Allocations: Sierra Tactical All Asset Fund
A visual view of tactical allocation shifts for the Sierra Tactical All Asset Fund for the last rolling 12 months. Updated through December 31, 2021.
Rolling 12 month Historic Allocations: Sierra Tactical Core Income Fund
A visual view of tactical allocation shifts for the Sierra Tactical Core Income Fund for the last rolling 12 months. Updated through December 31, 2022.
1101-NLD-01242023
Investment Professional account required to view
2018 Historic Allocations: Callan Visualizations
A visual view of tactical allocation shifts for the Sierra Tactical All Asset & Sierra Tactical Core Income Funds throughout 2018.
Investment Professional account required to view
2018 Historic Allocations: Callan Visualization
A visual view of tactical allocation shifts for the Sierra Tactical Core Income Fund throughout 2018.
Sierra Tactical Core Income Fund: Performance Snapshot
Monthly performance analysis booklet for Sierra Tactical Core Income Fund sourced through Morningstar. Updated through December 31, 2022.
Investment Professional account required to view
A Comprehensive Product Offering
A one page view of our comprehensive product offering for financial advisors.
Investment Professional account required to view
Quotes: Intellectual Noise
The complex nature of the capital markets has created a platform for so-called content experts, influencers, and market prognosticators to get their 30 second market soundbite into a deeply captive marketplace. Investor sentiment and behavior is heavily influenced by these, sometimes, irrational predictions on how the markets are expected to behave in the short or long-term.
Investment Professional account required to view
Sierra Tactical All Asset Fund: Navigating an Interesting Decade
Monthly performance analysis booklet sourced through Morningstar. Updated through November 30, 2019.
Investment Professional account required to view
Staying in the Game with Singles and Doubles
The challenge for Financial Advisors is finding the right components in order to assemble a sustainable, diversified portfolio for clients. Diversification consists of selecting asset classes that aren’t highly correlated to each other to create resilience through various market cycles. Clients value portfolios that are stable and can provide defense. Updated through March 31, 2019.
Investment Professional account required to view
How is your fixed income allocated and why?
There are endless fixed-income options available for your investment dollar. Do you have a process in place to help make these decisions a lot easier?
Investment Professional account required to view
Expand Your Core: Constructing a Bond Portfolio to Prosper in a Changing Environment
Bond portfolio construction can be more effective in a dynamic environment by assembling the portfolio with puzzle pieces that are not included within the Agg. The biggest challenge may be knowing when to adjust allocation – a problem that can be solved by following a clearly defined investment process.
Investment Professional account required to view
Market Minute: Distancing investing from gambling
Have you ever spent a day at the horse races? Choosing one horse before the race has begun and hoping for the best result is gambling. The same mentality can creep into investing. Terri Spath shares her investing insights in this week's Market Minute.
6809-NLD-09/04/2019
Commentary: Winning at the Horse Races
For most people the end of summer means one last dash to the beach, back-to-school shopping, and some final wagering at the horse track. At least this has been the case for me. The last bet on the last race at the Del Mar Racetrack in Southern California comes at Labor Day. Betting on a horse means putting money on a hopeful winner before the announcer shouts “go” and either picking up a gain or losing it all several minutes later.
6825-NLD-09/05/2019
Sales Support Territory Map
Sierra Mutual Funds regional sales territories.
Investment Professional account required to view
Market Minute: Using actively managed funds to tap into munis
Actively managed mutual funds are great vehicles to tap into unusual bond markets. We prefer using mutual funds to tap into the municipal bond market for many reasons. In this week's Market Minute, Terri shares three reasons why it makes sense.
5648-NLD-7/25/2019
Investment Professional account required to view
State of Confusion | 2019 Mid-Year Review
Chief Investment Officer Terri Spath shares her insights and perspectives on the financial market's State of Confusion in 2019.
5646-NLD-7/25/2019
Investment Professional account required to view
Market Minute: A new year with new risks
The new year brings with it new risks. CIO Terri Spath shares her perspectives.
5025-NLD-1/7/2019
Investment Professional account required to view
Market Minute: How well do you know your fixed income benchmark?
How are bond benchmarks constructed? The largest issuers of bonds will generally make up the most significant portions of a benchmark, which may expose your clients to some unintentional risks.
5396-NLD-4/29/2019
Investment Professional account required to view
Market Minute: Using investment rules to create favorable outcomes
Ever hear of the "Santa Clause Rally" or "Sell in May then Go Away?" These are commonly understood rules that seem quirky and subjective, but have some historic proof behind them. Terri shares her perspectives in this week's Market Minute.
5456-NLD-5/8/2019
Investment Professional account required to view
Market Minute: Three D's to enhance your clients' portfolio
We seek to provide your client's the Diversification and Defense they seek in the accumulation phase to set them up for future success when they enter the Distribution phase.
5502-NLD-5/31/2019
Investment Professional account required to view
Market Minute: The truths about left tail risk
Volatility is unpredictable and is a component of the capital markets that must be accounted for. Left tail risk is low probability events that can dramatically affect a client's portfolio.
6518-NLD-6/13/2019
Commentary: State of Confusion
Financial markets don’t know if they are coming or going, telegraphing that investors are in a state of confusion. The U.S. stock market is tapping out historic highs, but as we write this, the reality is that the S&P 500 is a scant 2% higher than levels established 9 months ago. Along the way to that meager gain, buy and hold investors endured an agonizing and unrelenting free-fall at the end of 2018 and a sharp 7% loss in value in May.
Commentary: The Stealth Bull Market in Bonds of the Past Year
For many, summer means days at the beach and, ideally, nights at the ice cream parlor. Picking a flavor of ice cream is never an easy decision. The same can be said for bonds. Like ice cream, bonds come in 31 flavors (or so). U.S. government bonds are really different flavors of vanilla, from just plain vanilla to French to New York. Interest rates are the driver of the prices of government bonds; a rise in rates pressures prices down and vice-versa. A risk of default is virtually nil so credit risk does not influence the price.
Commentary: A Tactical Strategy for Current Volatility
From basketball to tennis or chess to tic-tac-toe, winning a game involves strategic decisions, probability analysis and math. The best teams and players are not passive, generating the same moves over and over, but tactically adjusting to make the next best move. Investing is much the same.
Sierra Tactical Municipal Fund - Instl Class - Fact Sheet
Sierra Tactical Municipal Fund, Instl Class, Fact Sheet as of December 31, 2022.
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Sierra Tactical All Asset Fund - Instl Class - Fact Sheet
Sierra Tactical All Asset Fund, Instl Class, Fact Sheet as of December 31, 2022.
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Sierra Tactical All Asset Fund - Class A & C - Fact Sheet
Sierra Tactical All Asset Fund, Class A & C, Fact Sheet as of December 31, 2022.
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Sierra Tactical Core Income Fund - Instl Class - Fact Sheet
Sierra Tactical Core Income Fund, Instl Class, Fact Sheet as of December 31, 2022.
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Sierra Tactical Core Income Fund - Class A & C - Fact Sheet
Sierra Tactical Core Income Fund, Class A & C, Fact Sheet as of December 31, 2022.
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Commentary: True Diversification is a Process, Not a Set of Assumptions
A simple definition of investment diversification is conveyed in the overused statement, “don’t put all your eggs in one basket.” The basic buy-and-hold, set-it-and-forget-it style of investing is often premised in a 60% global stock and 40% bond allocation (known as “60/40”) and sold as enough diversification to handle whatever market turmoil might come your way over the long-term.
Commentary: After Last Quarter's Bloodbath, We've Had a Nice Rally. Is it Time to Pop the Corks?
So far in 2019, and really since Christmas Eve, we have seen a nice risk-on rally. Equities (as measured by the S&P 500® Index) were up about 8% in the month of January despite the U.S. government shutdown and international turmoil. While it is nice to have a breather from the march downward, it may be too early to pop the champagne corks and celebrate for the rest of the year. 2019 has only just begun, and (stop me if you've heard this) investing in a marathon, not a sprint!
Sierra Tactical All Asset Fund Summary Prospectus
This Summary Prospectus provides important information about the Fund that you should know before investing. Please read it carefully and keep it for future reference.
Sierra Tactical Core Income Fund Summary Prospectus
This Summary Prospectus provides important information about the Fund that you should know before investing. Please read it carefully and keep it for future reference.
Commentary: A Portfolio Manager's Resolution for Investors: Trailing Stops
A new year brings with it the elation of a renewed start. We proclaim resolutions about how we will make this year better than the one that just concluded. After the volatile close to 2018, investors should now be doing the same. Fortunately, there is the trailing-stop.
Outcomes Delivered by Process
An introduction to how the Sierra Mutual Funds investment team approaches tactical asset management.
Sierra Tactical Municipal Fund Summary Prospectus
This Summary Prospectus provides important information about the Fund that you should know before investing. Please read it carefully and keep it for future reference.
Sierra Tactical Municipal Fund Prospectus
This Prospectus provides important information about the Fund that you should know before investing. Please read it carefully and keep it for future reference.
Sierra Tactical All Asset Fund Prospectus
This Prospectus provides important information about the Fund that you should know before investing. Please read it carefully and keep it for future reference.
Sierra Tactical Core Income Fund Prospectus
This Prospectus provides important information about the Fund that you should know before investing. Please read it carefully and keep it for future reference.
Truly Tactical Rules-Based Investment Management
We are a truly tactical, rules-based investment manager. For more than 30 years we have been able to add value for advisors and their clients who appreciate the importance of total returns and mitigating downside risk. We believe in the importance of diversification, a strong defense, and the ability to sequence returns to provide a long distribution phase.
Sierra Mutual Funds Annual Report
The latest report published on September 30, 2021.
Sierra Mutual Funds Statement of Additional Information
This Statement of Additional Information ("SAI") is not a Prospectus and should be read in conjunction with the Prospectuses of the Sierra Tactical All Asset Fund, the Sierra Tactical Core Income Fund, the Sierra Tactical Municipal Fund, the Sierra Tactical Bond Fund, and the Sierra Tactical Risk Spectrum 50 Fund (each a “Fund” and together the "Funds") dated September 28, 2022 and the Annual Report to Shareholders, copies of which may be obtained without charge by contacting the Funds’ Transfer Agent, Gemini Fund Services, LLC, 17605 Wright Street, Suite 2, Omaha, Nebraska 68130 or by calling 1-866-738-4363 or 1-866-RETI-FND.
New Account Application
Sierra Mutual Funds new account application (not for use with IRA accounts). If you require assistance completing the application, please call (866) 738-4363.
Individual Retirement Account (IRA) Custodial Account Adoption Agreement
Please complete this application to establish a new Traditional IRA or Roth IRA. This application must be preceded or accompanied by a current IRA Disclosure Statement and Custodial Agreement. If you require assistance completing the application, please call (866) 738-4363.
Simple Individual Retirement Account (IRA) Custodial Account Adoption Agreement
Please complete this application to establish a new SIMPLE IRA. This application must be preceded or accompanied by a current Disclosure Statement and Custodial Agreement. If you require assistance completing the application, please call (866) 738-4363.
Individual Retirement Account (IRA) Transfer of Assets Form
Please complete this form only if you are transferring assets directly to a new or existing Sierra Mutual Funds IRA, converting from a Traditional IRA to a Roth IRA, transferring from an existing Roth IRA, rolling over a Roth IRA, or you are requesting a direct rollover from an employer sponsored plan. If you require assistance completing the application, please call (866) 738-4363.
Non-Qualified Transfer of Assets Form
Please complete this form only if you are transferring assets directly to a new or existing non-qualified account with the Sierra Mutual Funds. Please complete a separate form for each account you wish to transfer. Transfers may take 3 to 5 weeks to complete after your paperwork is received in good order. If you require assistance completing the application, please call (866) 738-4363.
Coverdell Education Savings Account (ESA) Application
Please complete this application to establish a new Education Savings Account. This application must be preceded or accompanied by a current Disclosure Statement and Custodial Agreement. If you require assistance completing the application, please call (866) 738-4363.
Individual Retirement Account (IRA) Custodial Agreement & Disclosure Statement
Form 5305-A under section 408(a) of the Internal Revenue Code.
ROTH Individual Retirement Account (IRA) Custodial Agreement & Disclosure Statement
Form 5305-RA under section 408(a) of the Internal Revenue Code.
2022 Q4 Quarterly Update Letter (Financial Advisors)
This quarterly letter covers what happened during the fourth quarter of 2022, how our investment disciplines responded, and provides an outlook for the coming months.
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