USA Mutuals Navigator Fund
Data updated: 2021-04-05
C000193427 — USA Mutuals Navigator Fund. United States Blend / Core Equity · $44.08M AUM · 2.01% expense ratio. Holdings, fees, performance and SEC filings.
C000193427 Fund Overview
USA Mutuals Navigator Fund is a US mutual fund managed by USA Mutuals, categorised as United States 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: USA Mutuals
- Category: United States Blend / Core Equity
- Assets under management: $44.08M
- 1-year return: -8.4%
- SEC CIK: 0001137095
- SEC series ID: S000058976
- Share class ID: C000193427
C000193427 Investment Objective and Strategy
USA Mutuals Navigator Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by USA Mutuals.
Investment objective
The investment objective of the USA Mutuals Navigator Fund (the Navigator Fund or the Fund) is capital appreciation and capital preservation with lower volatility throughout market cycles highly correlated with the Standard & Poors (S&P) 500 Index in bull markets, and less or negatively correlated in bear markets.
Principal investment strategy
The Navigator Fund, a diversified investment company, pursues its investment objective by employing a discretionary trading strategy which attempts to tactically allocate exposure levels in the U.S. stock market. Specifically, the Advisor invests the portfolio in long and short equity stock index futures, primarily on the S&P 500 Index; however, the Advisor may also invest in stock index futures listed on other equity exchanges. A stock index futures contract is an agreement between two parties to take or make delivery of an amount of cash equal to a specified dollar amount, times the difference between the stock index value at the close of the last trading day of the contract and the price at which the futures contract is originally struck. A stock index futures contract does not involve the physical delivery of the underlying stocks in the index.
Although stock index futures contracts call for the actual taking or delivery of cash, in most cases the Navigator Fund expects to liquidate its stock index futures positions through offsetting transactions, which may result in a gain or a loss, before cash settlement is required. The Fund may use stock index futures for hedging or speculation purposes. The Navigator Funds investment methodology is based on the Advisors quantitative indicators and models. The methodology begins with a top-down analysis of a broad array of fundamental and statistical data relating to the stock market. This data can be classified into five distinct categories: 1) Market valuation (whether the market is over-valued, under-valued or neutral); 2) Investor sentiment (investor expectations about the market, used as a contrary measure); 3) Market intervals (market momentum, market structure and seasonal factors); 4) Monetary environment (interest rates and macroeconomic circumstances); and 5) Macro Factors (external influences that may impact U.S.
stock indexes). An assessment of these categories determines the amount of long or short equity allocation exposure in the Navigator Fund through investment in stock index futures. This equity exposure through futures generally ranges from 30% short to 130% long. The Navigator Fund implements short positions by using futures. Short sales are transactions where the Fund sells securities it does not own in anticipation of a decline in the value of the securities. The Fund must borrow the security to deliver it to the buyer. The Fund is then obligated to replace the security borrowed at the market price at the time of replacement. The Fund may enter into a futures contract pursuant to which it agrees to sell an asset (that it does not currently own) at a specified price at a specified point in the future.
This gives the Fund a short position with respect to that asset. The Navigator Fund will use leverage through derivatives; however, the only derivatives in which the Fund invests are stock index futures. Leverage includes the practice of borrowing money to purchase securities or borrowing securities to sell them short. Investments in derivative instruments also involve the use of leverage because the amount of exposure to the underlying asset is often greater than the amount of capital required to purchase the derivative instrument. Leverage can increase or decrease the investment returns of the Fund. As a result, the sum of the Funds investment exposures may at times exceed the amount of assets invested in the Fund, although these exposures may vary over time. Buy and sell decisions are at the discretion of the portfolio manager and are based on a compilation of proprietary indicators of broad market sentiment.
C000193427 Performance
Total returns for C000193427 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -8.4% |
C000193427 Risk Information
Risk metrics for C000193427, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 18.7%
C000193427 Costs and Fees
C000193427 costs about $201 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.01%
- Gross expense ratio: 2.36%
- Portfolio turnover: 0%
- Brokerage commissions: 6.72 bps of average net assets (SEC N-CEN)
C000193427 Cashflows
Over the 12 months to 2020-12, USA Mutuals Navigator Fund had net inflows of $160.08M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-12 | $13.24M |
| 2020-11 | $9.84M |
| 2020-10 | $13.20M |
| 2020-09 | $14.11M |
| 2020-08 | $27.26M |
| 2020-07 | $6.64M |
C000193427 Debt Constituents
No individual debt constituents are reported in USA Mutuals Navigator Fund's latest SEC N-PORT filing.
C000193427 Prospectus and SEC Filings
Official USA Mutuals Navigator Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-08-12
- Prospectus (485BPOS) — filed 2019-08-06
- Prospectus (485BPOS) — filed 2018-08-10
- Portfolio holdings (N-PORT) — filed 2021-02-10
- Portfolio holdings (N-PORT) — filed 2020-11-25
- Portfolio holdings (N-PORT) — filed 2020-08-14
- Annual census (N-CEN) — filed 2021-04-05
- Annual census (N-CEN) — filed 2020-06-08
Related Funds
Other United States 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.