DGQAX — DSS AmericaFirst Defensive Growth Fund
Data updated: 2025-02-25
DGQAX — DSS AmericaFirst Defensive Growth Fund. United States Multi-Cap / All-Cap Value Equity · $804.89K AUM. Holdings, fees, performance and SEC filings.
DGQAX Fund Overview
DGQAX — DSS AmericaFirst Defensive Growth Fund is a US mutual fund managed by Dss Americafirst Funds, categorised as United States Multi-Cap / All-Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Dss Americafirst Funds
- Category: United States Multi-Cap / All-Cap Value Equity
- Assets under management: $804.89K
- 1-year return: 7.3%
- Ticker: DGQAX
- SEC CIK: 0001539996
- SEC series ID: S000036986
- Share class ID: C000113162
DGQAX Investment Objective and Strategy
DSS AmericaFirst Defensive Growth Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Dss Americafirst Funds.
Investment objective
The Fund seeks to achieve capital appreciation through all market cycles.
Principal investment strategy
The Fund seeks to achieve its investment objective by investing, under normal circumstances, a range of approximately 70% to 100% of its net assets in a portfolio of defensive, non-cyclical equity securities of foreign and domestic companies selected by applying a rules-based strategy. Equity securities include common stock. The Fund may not meet its target range during rebalancing transitions as well as upon the discretion of the Funds investment advisor. The Fund strategy was developed by the Funds investment advisor, AmericaFirst Capital Management, LLC (the Advisor). The Fund seeks to select stocks of historically defensive industries. Defensive companies tend to offer basic consumer necessities where consumer demand tends to be unaffected even in poor economic conditions and therefore may have the ability to weather economic downturns better than non-defensive companies.
The Advisor believes that sales and earnings growth of stocks of these defensive companies may remain relatively constant regardless of the ups and downs of the economy due to the generally stable demand for these companys products. Industries that are comprised primarily of defensive, non-cyclical companies would include, but are not limited to, Consumer Staples (example: food products, cosmetics & toiletries, brewing, soft drinks, food processing and retail), Healthcare (pharmaceuticals, health care services, medical supplies and equipment), Aerospace & Defense (companies engaged in the production of spacecraft and commercial military and private aircraft), and Utilities (electric, natural gas and water utilities as well as telephone services). Under normal market conditions, the Fund may overweight portfolio investments primarily in securities in the consumer staples and healthcare sectors which represent numerous industries.
These sectors generally are comprised of companies that are defensive in nature and are selected in an effort to provide capital appreciation while reducing overall portfolio volatility. The Fund may also execute a portion of its equity strategy by investing in ETFs, including those with inverse market exposure and leveraged ETFs. Inverse ETFs are designed to produce results opposite to market direction, which may serve to hedge portfolio investments. Inverse ETFs seek daily investment results, before fees and expenses, which correspond to the inverse (opposite) of the daily performance of a specific benchmark, such as the S&P 500 Index. The Advisor does not rebalance inverse ETFs positions daily to adjust for daily changes in the reference index. Leveraged ETFs seek to use financial derivatives and debt to amplify the returns of an underlying index.
The Fund may also sell short equity securities from any industry in an attempt to reduce volatility and risk in unfavorable market conditions. Depending upon market conditions and prospects as determined by the Advisors quantitative models, the Fund may target having approximately 0% to 30% of its assets in short positions under normal market conditions. The Fund may target having approximately 70% to 100% of its assets in long positions under normal market conditions. The Fund will invest in securities of companies regardless of market capitalization. The Fund will rebalance a significant portion of its holdings, based on the Advisors quantitative models, on a quarterly basis or more frequent basis. The Fund may hold significantly higher than normal short-term cash positions during rebalancing or when market conditions warrant.
The Advisors rules-based models take into account and weight such variables that may include operating earnings yield, price momentum, share buyback, trading liquidity and others when selecting long positions. In selecting short positions, the Advisors rules-based models considers such variables including, but not limited to, poor relative price momentum, poor technical indicators and poor fundamentals. The Fund may employ seasonal and/or market timing trading strategies based upon the Advisors quantitative models.
DGQAX Holdings
Top 5 holdings of DSS AmericaFirst Defensive Growth Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| iShares Trust | 36.90% |
| SPDR Series Trust | 24.74% |
| iShares Trust | 12.49% |
| iShares Trust | 12.36% |
| Federated Hermes Institutional Prime Obligations Fund | 10.49% |
DGQAX Portfolio Allocation
Asset-class allocation of DSS AmericaFirst Defensive Growth Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 86.5% |
| Cash & Equivalents | 10.5% |
DGQAX Performance
Total returns for DGQAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 7.3% |
| 3 years (annualised) | -0.6% |
| 5 years (annualised) | -2.6% |
DGQAX Risk Information
Risk metrics for DGQAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 7.6%
DGQAX Costs and Fees
DGQAX costs about $61 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.61%
- Gross expense ratio: 9.19%
- Portfolio turnover: 118%
- Brokerage commissions: 8.83 bps of average net assets (SEC N-CEN)
DGQAX Cashflows
Over the 12 months to 2024-12, DSS AmericaFirst Defensive Growth Fund had net outflows of $349.39K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-12 | −$17.76K |
| 2024-11 | −$209.34K |
| 2024-10 | −$52.42K |
| 2024-09 | −$807 |
| 2024-08 | −$1.50K |
| 2024-07 | −$646 |
DGQAX Debt Constituents
No individual debt constituents are reported in DSS AmericaFirst Defensive Growth Fund's latest SEC N-PORT filing.
DGQAX Prospectus and SEC Filings
Official DSS AmericaFirst Defensive Growth Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-10-28
- Prospectus (485BPOS) — filed 2023-10-24
- Prospectus supplement (497) — filed 2024-10-31
- Portfolio holdings (N-PORT) — filed 2025-02-25
- Portfolio holdings (N-PORT) — filed 2024-11-13
- Portfolio holdings (N-PORT) — filed 2024-08-21
- Annual census (N-CEN) — filed 2024-09-12
- Annual census (N-CEN) — filed 2023-09-11
Related Funds
Other United States Multi-Cap / All-Cap Value 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.