Ziegler FAMCO Hedged Equity Fund

C000223916 Fund Overview

Ziegler FAMCO Hedged Equity Fund is a US mutual fund managed by Trust for Advised Portfolios, 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: Trust for Advised Portfolios
• Category: United States Blend / Core Equity
• Assets under management: $19.36M
• 1-year return: 10.2%
• SEC CIK: 0001261788
• SEC series ID: S000070432
• Share class ID: C000223916

C000223916 Investment Objective and Strategy

Ziegler FAMCO Hedged Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Trust for Advised Portfolios.

Investment objective

The Ziegler FAMCO Hedged Equity Fund (the Fund) seeks growth of capital and income.

Principal investment strategy

The Fund seeks to achieve its investment objective by investing primarily in common stocks of large-cap companies and secondarily in exchange-traded funds (ETFs) that invest primarily in large-cap common stocks. The Fund defines large-cap as companies with market capitalizations in excess of $5 billion. The Fund sells (writes) call options on a majority of the notional value of these stocks and ETFs, or on a representative index, such as the S&P 500, in seeking to shield the Fund from some of the risk associated with these investments and to generate additional returns to the extent of the call option premium received. Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities and derivatives and other investments that have economic characteristics similar to equity securities.

The Fund also purchases and sells exchange traded put options, employing an option overlay known as a Put/Spread strategy in order to provide additional downside protection and risk-reduction. The options may be based on the S&P 500 Index or on ETFs that replicate the S&P 500 Index. A Put/Spread strategy is used to protect the value of an equity portfolio or profit from a decrease in the value of the equity portfolio. In a Put/Spread strategy, the Fund purchases a put on a security, ETF, or representative index and sells a put on the same security, ETF, or representative index. The purchased put benefits if the value of the underlying security, ETF or representative index decreases. The sold put generates income and limits the downside protection of the purchased put. The total option overlay strategy is designed to be near cost neutral.

The combination of the diversified portfolio of equity securities, the downside protection from the put spread and the income from the call options is intended to provide the Fund with a portion of the returns associated with equity market investments while exposing investors to less risk than traditional long-only equity strategies (strategies that do not employ call or put option hedges). Stock selection is designed to closely track the returns of the S&P 500 Index, or similar large-cap index, resulting in minimal tracking error. The stocks are rebalanced monthly utilizing a quantitative portfolio optimization tool, as well as a stock specific ranking process created by USCA Asset Management (the Sub-Adviser). The process seeks to limit tracking error relative to the benchmark. In creating the stock rankings, the Sub-Adviser considers the following: (i) dividend payments, (ii) dividend increases, (iii) payout ratios, (iv) debt coverage ratios, (v) debt levels, (vi) earnings history, (vii) revenue growth, (viii) earnings growth, (ix) stock buybacks, (x) price-to-earnings (P/E) ratios, (xi) forward-looking P/E ratios, (xii) price-to-book value ratios, (xiii) price-to-sales ratios, (xiv) price-to-cash flow ratios, (xv) Altman Z scores (a bankruptcy predictor), (xvi) P/E-to-growth (PEG) ratios, and (xvii) betas (a measure of relative volatility of a security compared to the market as a whole).

Each criterion listed above provides insight into the Sub-Advisers assessment of security valuation and outlook. The Fund may use ETFs as a substitute for groups of stocks. The Fund sells stocks and ETFs when it believes they no longer meet the criteria mentioned above and will contemporaneously rebalance into new stocks. As the stock portfolio is designed to closely track the S&P 500 Index, options are not adjusted for stock rebalancing. Instead, the options in the strategy are rebalanced near expiration. To enhance the potential returns of the Fund, as well as to hedge (by writing calls) against losses should portfolio securities decline, the Fund sells call options against the Funds portfolio of stocks and ETFs either individually or on a representative index such as the S&P 500 Index.

This part of the Funds strategy is commonly referred to as a covered call strategy because the Fund owns the underlying security at the time it sells the option. The Fund selects call and put options with various exercise prices and maturities, reflecting the portfolio managers views about the capital appreciation potential of each underlying stock and ETF or a representative index, as well as its view about the U.S. equity market as a whole. When the portfolio managers determine that investment opportunities in large cap common stocks are overvalued or that prospects for the U.S. stock market are waning, the Sub-Adviser may also recommend a portion of the Funds assets to money market funds and other cash equivalents.

C000223916 Performance

Total returns for C000223916 (as of 2026-10-01), from SEC filings.

C000223916 Risk Information

Risk metrics for C000223916, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 8.3%

C000223916 Costs and Fees

C000223916 costs about $70 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.70%
• Gross expense ratio: 1.33%
• Portfolio turnover: 77%
• Brokerage commissions: 7.12 bps of average net assets (SEC N-CEN)

C000223916 Cashflows

Over the 12 months to 2023-09, Ziegler FAMCO Hedged Equity Fund had net inflows of $19.99M, from monthly SEC N-PORT filings.

C000223916 Debt Constituents

No individual debt constituents are reported in Ziegler FAMCO Hedged Equity Fund's latest SEC N-PORT filing.

C000223916 Prospectus and SEC Filings

Official Ziegler FAMCO Hedged Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2023-01-27
• Prospectus (485BPOS) — filed 2022-01-28
• Prospectus supplement (497) — filed 2021-08-31
• Portfolio holdings (N-PORT) — filed 2023-11-29
• Portfolio holdings (N-PORT) — filed 2023-08-29
• Portfolio holdings (N-PORT) — filed 2023-05-30
• Annual census (N-CEN) — filed 2023-12-14
• Annual census (N-CEN) — filed 2022-12-13

Related Funds

Other United States Blend / Core Equity funds tracked on ABC INVEST:

• International Small Company Portfolio (DFISX)
• iShares Preferred and Income Securities ETF (PFF)
• Guggenheim Macro Opportunities Fund (GIOAX)
• Emerging Markets Portfolio (DFEMX)
• Eaton Vance Global Macro Absolute Return Advantage Fund (EGRAX)

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.