Hussman Strategic Market Cycle Fund (HSGFX)

Fund Assets	374.93M
Expense Ratio	1.23%
Min. Investment	$1,000
Turnover	470.00%
Dividend (ttm)	0.13
Dividend Yield	2.42%
Dividend Growth	-19.51%
Payout Frequency	Annual
Ex-Dividend Date	Dec 31, 2025

Previous Close	5.45
YTD Return	-3.87%
1-Year Return	-9.87%
5-Year Return	-6.59%
52-Week Low	5.09
52-Week High	6.29
Beta (5Y)	-0.55
Holdings	246
Inception Date	Jul 24, 2000

About HSGFX

The Strategic Market Cycle Fund is a mutual fund designed with a dual mandate: to achieve long-term capital appreciation while placing a strong emphasis on protecting capital during unfavorable market conditions. Managed by John P. Hussman, Ph.D., since its inception in 2000, the fund primarily invests in common stocks selected for their favorable valuations and market characteristics. What sets this fund apart is its use of active risk management strategies, including the use of options, index futures, and short sales of ETFs to hedge or adjust equity market exposure depending on prevailing market conditions. This flexible approach enables the fund to dynamically reduce risk during volatile or declining markets and potentially increase exposure when conditions are deemed favorable. The fund generally favors companies with market capitalizations exceeding $500 million and can hold a combination of equities, cash reserves, and derivative contracts. Its role in the financial market is to offer investors a vehicle that blends growth-oriented stock selection with robust risk controls, aiming to navigate full market cycles rather than simply tracking a benchmark index.

• Fund Family: Hussman Funds
• Category: Options Trading
• Performance Rating: Low
• Risk Rating: Above Average
• Stock Exchange: NASDAQ
• Ticker Symbol: HSGFX
• Index: S&P 500 TR

Performance

HSGFX had a total return of -9.87% in the past year, including dividends. Since the fund's inception, the average annual return has been 0.30%.

Top 10 Holdings

50.38% of assets

Name	Symbol	Weight
Invesco Shrt-Trm Inv Treasury Instl	TRPXX	39.80%
THE OPTIONS CLEARING CORPORATION - S&P 500 INDEX 05/15/2026 6500 Put	SPX. 260515P06500000	1.58%
THE OPTIONS CLEARING CORPORATION - Russell 2000 Index/Old 05/15/2026 2450 Put	RUT. 260515P02450000	1.49%
Corcept Therapeutics Incorporated	CORT	1.22%
United Natural Foods, Inc.	UNFI	1.14%
The Campbell's Company	CPB	1.13%
APA Corporation	APA	1.07%
Etsy, Inc.	ETSY	1.01%
ANI Pharmaceuticals, Inc.	ANIP	0.97%
Concentrix Corporation	CNXC	0.97%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 31, 2025	$0.1324	Jan 2, 2026
Dec 31, 2024	$0.1645	Jan 2, 2025
Dec 29, 2023	$0.1879	Jan 2, 2024
Dec 30, 2022	$0.0768	Jan 3, 2023
Dec 31, 2021	$0.0259	Dec 31, 2021
Dec 31, 2020	$0.010	Jan 4, 2021

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Aug 28, 2026

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