Rational Special Situations Income Fund Class A Shares (RFXAX)
| Fund Assets | 1.30B |
| Expense Ratio | 2.01% |
| Min. Investment | $1,000 |
| Turnover | 8.00% |
| Dividend (ttm) | 0.93 |
| Dividend Yield | 4.92% |
| Dividend Growth | -19.48% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Jan 29, 2026 |
| Previous Close | 18.96 |
| YTD Return | 0.91% |
| 1-Year Return | 5.11% |
| 5-Year Return | 20.90% |
| 52-Week Low | 18.09 |
| 52-Week High | 18.98 |
| Beta (5Y) | 0.06 |
| Holdings | 971 |
| Inception Date | Jul 17, 2019 |
About RFXAX
Rational Special Situations Income Fund Class A Shares is an open-end mutual fund focused on fixed income opportunities in the U.S. mortgage market. Its primary objective is to seek total return through a combination of capital appreciation and income. The fund primarily invests in non-agency residential mortgage-backed securities, while retaining flexibility to hold agency and commercial mortgage-backed securities and other asset-backed instruments. A distinguishing feature is its emphasis on legacy, senior mortgage bonds and floating-rate structures to help reduce credit and interest-rate sensitivity. The strategy targets “special situations,” aiming to identify mispricings arising from legal or structural anomalies and to pursue remedies via engagement with trustees, servicers, or through litigation when warranted. Managed by ESM Management LLC, the approach incorporates activist techniques to unlock value while seeking to limit downside risk. The fund distributes income monthly and is categorized in the multisector bond space, reflecting its opportunistic, securitized-debt orientation within the broader fixed income market.
Performance
RFXAX had a total return of 5.11% in the past year, including dividends. Since the fund's inception, the average annual return has been 9.14%.
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Jan 29, 2026 | $0.0713 | Jan 30, 2026 |
| Dec 30, 2025 | $0.0607 | Dec 31, 2025 |
| Nov 26, 2025 | $0.0685 | Nov 28, 2025 |
| Oct 30, 2025 | $0.0922 | Oct 31, 2025 |
| Sep 29, 2025 | $0.0948 | Sep 30, 2025 |
| Aug 28, 2025 | $0.064 | Aug 29, 2025 |