Redwood Managed Volatility Portfolio
Data updated: 2024-05-15
C000144911 — Redwood Managed Volatility Portfolio. United States Multi-Cap / All-Cap Blend / Core Equity. Holdings, fees, performance and SEC filings.
C000144911 Fund Overview
Redwood Managed Volatility Portfolio is a US mutual fund managed by Two Roads Shared Trust, categorised as United States Multi-Cap / All-Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Two Roads Shared Trust
- Category: United States Multi-Cap / All-Cap Blend / Core Equity
- Assets under management: $6.81M
- 1-year return: 4.0%
- SEC CIK: 0001552947
- SEC series ID: S000046375
- Share class ID: C000144911
C000144911 Investment Objective and Strategy
Redwood Managed Volatility Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Two Roads Shared Trust.
Investment objective
The Redwood Managed Volatility Portfolio (the Portfolio) seeks a combination of total return and prudent management of portfolio downside volatility and downside loss.
Principal investment strategy
To pursue its investment objective the Portfolio uses a trend-following strategy that seeks to identify the critical turning points in the markets for high yield bonds (also known as junk bonds) and bank loans. The Portfolios adviser, Redwood Investment Management, LLC (Redwood or the Adviser) uses a quantitative program that seeks to invest in diversified high yield bond funds, bank loan funds, multi-sector bond funds and other fixed income funds with similar characteristics when the high yield bond and bank loan markets are trending upwards, and short-term fixed income securities when the high yield bond and bank loan markets are trending downwards. Depending on market conditions, the Portfolio may be invested: (i) primarily in high yield bond funds, bank loan funds, multi-sector bond funds and other fixed income funds with similar characteristics; (ii) primarily in short-term fixed income securities; or (iii) a combination of (i) and (ii).
The Portfolio also can invest in other income-oriented funds. By tactically allocating its investments, the Portfolio seeks to reduce its exposure to declines in the high yield bond and bank loan markets, thereby seeking to limit downside volatility and downside loss in down-trending markets. To seek greater investment exposure to the Portfolios strategies, the Portfolio has the ability under federal law to leverage its portfolio by borrowing money from a bank in an amount of up to one-third of its assets (which includes the borrowed amount). The Portfolio gains exposure to the high yield bond and bank loan markets through investments in investment companies, including open-end mutual funds, exchange-traded funds (ETFs), and closed-end funds, including business development companies. The investment companies in which the Portfolio invests may invest in securities of any maturity or quality, including securities rated below investment grade.
The Portfolio may gain exposure to foreign (non-U.S.) securities, including emerging market securities, to the extent the Portfolio invests in other investment companies that hold securities of foreign (non-U.S.) issuers. The short-term fixed income securities in which the Portfolio invests may include corporate bonds and other corporate debt securities, asset-backed securities, securities issued by the U.S. government or its agencies and instrumentalities, securities issued by non-U.S. governments or their agencies and instrumentalities, money market securities and other interest-bearing instruments or any derivative instrument meant to track the return of any such instrument, and cash. The Portfolio may also invest in money market funds or other investment companies whose assets are comprised primarily of short-term fixed income securities.
The Portfolio may invest in short-term fixed income securities of any maturity and credit quality, including securities rated below investment grade (junk bonds). The Adviser employs a total return and downside volatility management investment approach, which seeks to reduce exposure to losses in the markets while capturing gains during up-trends in these markets. However, the Portfolios downside volatility may be higher than the general global equity, fixed income, currency and commodity markets over short-term periods. The Portfolio may invest directly or indirectly in various types of derivatives, including credit default swaps and total return swap contracts, as a substitute for making direct investments in underlying instruments or to reduce certain investment exposures. A credit default swap is a contract that enables an investor to buy or sell protection against a pre-determined issuer credit event.
A total return swap is a contract that exchanges a floating rate for the total return of a security or index. While Federal law limits the Portfolios bank borrowings to one-third of the Portfolios assets (which includes the borrowed amount), the use of derivatives is not limited in the same manner. Federal law generally requires the Portfolio to segregate or earmark liquid assets or otherwise cover the market exposure of its derivatives, including swap contracts, credit default swaps, and swaptions. The Portfolio may borrow money to enter into swap contracts that may leverage the Portfolios portfolio to a significant degree. In addition, the Portfolio may engage in active and frequent trading.
C000144911 Holdings
Top 10 holdings of Redwood Managed Volatility Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| American High Income Trust | 16.55% |
| Lord Abbett High | 16.55% |
| Blackrock Funds V | 16.53% |
| Principal Funds Inc | 16.38% |
| Vanguard Fixed Income Securities Funds | 16.31% |
| Federated Herms Instl Tr | 16.22% |
| US Bank Mmda | 0.97% |
| Janus Investment Fund | 0.12% |
| Pimco Fds Pacific Invt Mgmt Ser | 0.11% |
| Putnam High Yield | 0.07% |
C000144911 Portfolio Allocation
Asset-class allocation of Redwood Managed Volatility Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 98.9% |
| Cash & Equivalents | 1.0% |
C000144911 Performance
Total returns for C000144911 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 4.0% |
| 3 years (annualised) | -0.1% |
C000144911 Risk Information
Risk metrics for C000144911, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 5.1%
C000144911 Costs and Fees
C000144911 costs about $195 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.95%
- Gross expense ratio: 3.69%
- Portfolio turnover: 448%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000144911 Cashflows
Over the 12 months to 2024-03, Redwood Managed Volatility Portfolio had net inflows of $2.07M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-03 | −$1.43M |
| 2024-02 | $74.55K |
| 2024-01 | −$140.52K |
| 2023-12 | $144.20K |
| 2023-11 | $492.19K |
| 2023-10 | $240.57K |
C000144911 Debt Constituents
No individual debt constituents are reported in Redwood Managed Volatility Portfolio's latest SEC N-PORT filing.
C000144911 Prospectus and SEC Filings
Official Redwood Managed Volatility Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-04-29
- Prospectus (485BPOS) — filed 2023-04-26
- Prospectus (485BPOS) — filed 2022-04-18
- Portfolio holdings (N-PORT) — filed 2024-05-15
- Portfolio holdings (N-PORT) — filed 2024-02-26
- Portfolio holdings (N-PORT) — filed 2023-11-24
- Annual census (N-CEN) — filed 2024-03-08
- Annual census (N-CEN) — filed 2023-03-14
Related Funds
Other United States Multi-Cap / All-Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.