Swan Defined Risk Growth Fund Class A Shares (SDAAX)

Fund Assets	53.50M
Expense Ratio	1.68%
Min. Investment	$2,500
Turnover	54.00%
Dividend (ttm)	0.29
Dividend Yield	1.71%
Dividend Growth	n/a
Payout Frequency	n/a
Ex-Dividend Date	n/a

Previous Close	14.95
YTD Return	-4.22%
1-Year Return	12.39%
5-Year Return	37.00%
52-Week Low	12.38
52-Week High	15.84
Beta (5Y)	0.65
Holdings	21
Inception Date	Dec 27, 2018

About SDAAX

Swan Defined Risk Growth Fund Class A is an open-end mutual fund that employs a unique hedged equity approach focused on U.S. large-cap equities, particularly those represented in the S&P 500 Index. The fund’s primary objective is to achieve long-term capital appreciation while managing downside risk through its proprietary Defined Risk Strategy. This strategy combines direct and indirect investments in large-cap U.S. equities or ETFs with a disciplined use of exchange-traded options, notably long-term put options, to hedge against market downturns and minimize losses during bear markets. Additionally, the fund uses put and call options on various equity indices to enhance return potential. Its portfolio construction distinguishes itself by emphasizing growth over protection, devoting a smaller portion of the budget to hedges and instead increasing equity exposure for capital growth. The Swan Defined Risk Growth Fund Class A plays a notable role in the market by offering growth-oriented investors a way to participate in equity market upside while seeking to limit drawdowns during periods of market stress, thus catering to those who value both return potential and risk mitigation in their investment strategy.

• Fund Family: Swan
• Category: Options Trading
• Performance Rating: Above Average
• Risk Rating: Above Average
• Stock Exchange: NASDAQ
• Ticker Symbol: SDAAX
• Share Class: Class A Shares
• Index: S&P 500 TR

Performance

SDAAX had a total return of 12.39% in the past year, including dividends. Since the fund's inception, the average annual return has been 9.87%.

Equivalent Funds

These are funds that follow the same index from the other major fund companies.

Symbol	Provider	Name	Expense Ratio
VQNPX	Vanguard	Vanguard Growth and Income Fund Investor Shares	0.36%
FMGKX	Fidelity	Fidelity Magellan Fund - Class K	0.40%
FMAGX	Fidelity	Fidelity Magellan Fund	0.47%
FEQDX	Fidelity	Fidelity Advisor Hedged Equity Fund - Class C	1.55%
VPMCX	Vanguard	Vanguard PRIMECAP Fund Investor Shares	0.38%

Other Share Classes

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

Symbol	Share Class	Expense Ratio
SDAIX	Class I Shares	1.43%
SDACX	Class C Shares	2.43%

Top 10 Holdings

103.17% of assets

Name	Symbol	Weight
iShares Core S&P 500 ETF	IVV	88.99%
S&P 500 Index Spx Us 12/17/27 P7050	n/a	4.17%
S&P 500 Index Spx Us 12/17/27 C7500	n/a	3.55%
S&P 500 Index Spx Us 12/17/27 P6900	n/a	3.30%
First American Government Obligations Fund	FGXXX	1.76%
S&P 500 Index Spx Us 02/20/26 P6500	n/a	0.58%
Us Dollar Broker	n/a	0.47%
S&P 500 Index Spx Us 02/20/26 P6300	n/a	0.35%
S&P 500 Index Spxw Us 12/31/25 P6500	n/a	0.00%
S&P 500 Index Spxw Us 12/31/25 P6250	n/a	0.00%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 27, 2024	$0.2853	Dec 30, 2024
Dec 27, 2023	$3.525	Dec 28, 2023
Dec 29, 2020	$0.0718	Dec 29, 2020
Dec 26, 2019	$0.1896	Dec 26, 2019