Emerald Banking & Finance Evolution Fund - A (HSSAX)

Fund Assets	41.70M
Expense Ratio	1.84%
Min. Investment	$2,000
Turnover	63.00%
Dividend (ttm)	n/a
Dividend Yield	n/a
Dividend Growth	n/a
Payout Frequency	n/a
Ex-Dividend Date	n/a

Previous Close	30.53
YTD Return	-1.55%
1-Year Return	-1.86%
5-Year Return	-38.42%
52-Week Low	27.46
52-Week High	35.00
Beta (5Y)	1.47
Holdings	58
Inception Date	Feb 18, 1997

About HSSAX

Emerald Finance and Banking Innovation Fund - A is an actively managed mutual fund focused on achieving long-term growth through capital appreciation, with income as a secondary goal. The fund primarily invests at least 80% of its assets in equities—both common and preferred—of companies principally engaged in the banking and financial services sectors. Its portfolio emphasizes community banks, insurance companies, and other financial institutions, providing targeted exposure to the heart of the U.S. financial landscape. The fund follows a small-value investment style and typically holds a concentrated group of financial industry stocks, with its top 10 holdings accounting for a significant portion of assets. Established in 1997, it is designed for investors seeking specialized exposure to evolving trends and innovations within financial services. While the fund is known for its focused strategy, it carries relatively high expenses compared to peers and a front-load sales charge as part of its share structure. Overall, the fund plays a unique role by channeling capital into sectors driving financial innovation and supporting community-level financial growth.

• Fund Family: Emerald
• Category: Financial
• Performance Rating: Low
• Risk Rating: High
• Stock Exchange: Nasdaq
• Ticker Symbol: HSSAX
• Share Class: Class A
• Index: Russell 2000 TR

Performance

HSSAX had a total return of -1.86% in the past year, including dividends. Since the fund's inception, the average annual return has been 7.41%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
HSSIX	Institutional Class	1.36%
FFBFX	Investor Class	1.78%
HSSCX	Class C	2.46%

Top 10 Holdings

41.78% of assets

Name	Symbol	Weight
Esquire Financial Holdings, Inc.	ESQ	4.92%
Axos Financial, Inc.	AX	4.63%
The Bancorp, Inc.	TBBK	4.54%
Customers Bancorp, Inc.	CUBI	4.40%
Happen, Inc.	HAPN	4.22%
Metropolitan Bank Holding Corp.	MCB	4.13%
Northeast Bank	NBN	4.11%
Pathward Financial, Inc.	CASH	3.89%
Neptune Insurance Holdings Inc.	NP	3.60%
Enova International, Inc.	ENVA	3.33%

Data Sources: Tiingo, Financial Modeling Prep, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Financial Modeling Prep. Several fund data points are also provided by Finnhub.

Last checked:

Oct 16, 2026

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