Swan Defined Risk Fund Class C Shares (SDRCX)

Fund Assets	578.98M
Expense Ratio	2.25%
Min. Investment	$2,500
Turnover	12.00%
Dividend (ttm)	1.56
Dividend Yield	10.84%
Dividend Growth	70.14%
Payout Frequency	Annual
Ex-Dividend Date	Dec 30, 2025

Previous Close	14.41
YTD Return	6.35%
1-Year Return	11.53%
5-Year Return	19.37%
52-Week Low	12.94
52-Week High	15.22
Beta (5Y)	0.55
Holdings	17
Inception Date	Oct 18, 2012

About SDRCX

Swan Defined Risk Fund Class C Shares is an actively managed mutual fund designed to provide long-term capital appreciation while seeking to manage downside risk. The fund primarily follows a hedged equity strategy, investing in U.S. large-cap equities—often through funds like the iShares Core S&P 500 ETF—alongside options-based overlay strategies that aim to protect against significant market declines. This approach places it in the Equity Hedged category, where managers employ various options tactics, such as spreads and collars, to generate returns and buffer volatility. Notable features include concentrated top holdings, with the top ten representing almost the entire portfolio, and a consistently low portfolio turnover rate. The fund's multi-manager team focuses on capital preservation, making it a distinctive choice within the risk-managed equity segment. Its risk and return characteristics—such as lower beta and strong correlation to benchmarks—reflect its specific goal of participating in market gains while aiming to mitigate large losses, highlighting its unique role for investors seeking a less volatile path to equity exposure.

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

Performance

SDRCX had a total return of 11.53% in the past year, including dividends. Since the fund's inception, the average annual return has been 4.53%.

Other Share Classes

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

Symbol	Share Class	Expense Ratio
SDRIX	Class I Shares	1.25%
SDRAX	Class A Shares	1.50%

Top 10 Holdings

97.19% of assets

Name	Symbol	Weight
iShares Core S&P 500 ETF	IVV	59.16%
State Street Technology Select Sector SPDR ETF	XLK	9.80%
SPX US 12/17/27 P7350	n/a	5.99%
SPX US 12/17/27 P7250	n/a	5.74%
State Street Financial Select Sector SPDR ETF	XLF	3.70%
Select Sector Spdr Trust - SS CONSUMER DISC	n/a	2.91%
State Street Health Care Select Sector SPDR ETF	XLV	2.86%
State Street Communication Services Select Sector SPDR ETF	XLC	2.82%
State Street Industrial Select Sector SPDR ETF	XLI	2.66%
Select Sector Spdr Trust - SS CONSUMER STPL	n/a	1.56%

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	$1.6893	Dec 28, 2023
Dec 26, 2019	$0.0174	Dec 26, 2019
Dec 23, 2016	$0.0759	Dec 23, 2016
Dec 19, 2013	$0.0049	Dec 19, 2013

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 27, 2026

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