Swan Defined Risk Fund Class A Shares (SDRAX)
| Fund Assets | 628.01M |
| Expense Ratio | 1.52% |
| Min. Investment | $2,500 |
| Turnover | 12.00% |
| Dividend (ttm) | 1.56 |
| Dividend Yield | 10.07% |
| Dividend Growth | 70.14% |
| Payout Frequency | Annual |
| Ex-Dividend Date | Dec 30, 2025 |
| Previous Close | 15.45 |
| YTD Return | 0.32% |
| 1-Year Return | 7.83% |
| 5-Year Return | 33.26% |
| 52-Week Low | 13.17 |
| 52-Week High | 15.65 |
| Beta (5Y) | 0.51 |
| Holdings | 20 |
| Inception Date | Jul 30, 2012 |
About SDRAX
The Swan Defined Risk Fund Class A is an actively managed mutual fund that employs a hedged equity strategy designed to balance long-term capital appreciation with risk management objectives. Its core approach revolves around investing in a diversified selection of equity securities, typically through sector-based exchange-traded funds (ETFs) representing components of the S&P 500, combined with the tactical use of options contracts to mitigate substantial market declines. A hallmark of the fund is its rules-based, disciplined process which regularly incorporates long-term put options for downside protection and utilizes additional short-term options trading to generate income in various market conditions. Distinct from traditional equity funds, the fund consistently maintains a hedge against market volatility, seeking to limit downside risk and reduce overall portfolio volatility. Key sectors represented in its holdings include information technology, financials, healthcare, and consumer discretionary industries, reflecting a broad and balanced exposure to the U.S. equity market. The fund’s risk-managed approach is intended to appeal to investors aiming for growth but with a heightened focus on capital preservation and risk control across full market cycles.
Performance
SDRAX had a total return of 7.83% in the past year, including dividends. Since the fund's inception, the average annual return has been 7.74%.
Top 10 Holdings
97.58% of assets| Name | Symbol | Weight |
|---|---|---|
| iShares Core S&P 500 ETF | IVV | 67.40% |
| State Street Technology Select Sector SPDR ETF | XLK | 9.77% |
| State Street Financial Select Sector SPDR ETF | XLF | 3.80% |
| SPX US 12/18/26 P6100 | n/a | 3.61% |
| Select Sector Spdr Trust - SPDR-CONS DISCRE | n/a | 3.01% |
| State Street Communication Services Select Sector SPDR ETF | XLC | 2.83% |
| State Street Health Care Select Sector SPDR ETF | XLV | 2.55% |
| State Street Industrial Select Sector SPDR ETF | XLI | 2.38% |
| Select Sector Spdr Trust - SPDR-CONS STAPLE | n/a | 1.40% |
| State Street Energy Select Sector SPDR ETF | XLE | 0.83% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Dec 30, 2025 | $1.5581 | Dec 31, 2025 |
| Dec 27, 2024 | $0.9158 | Dec 30, 2024 |
| Dec 27, 2023 | $1.6963 | Dec 28, 2023 |
| Dec 29, 2020 | $0.011 | Dec 29, 2020 |
| Dec 26, 2019 | $0.1166 | Dec 26, 2019 |
| Dec 21, 2018 | $0.0828 | Dec 21, 2018 |