EBSAX Performance — Campbell Systematic Macro Fund, Class A
Data updated: 2026-07-28
EBSAX returned +8.33% year to date and +4.84% over one year to May 2026. Annualised returns are +3.52% over 3 years and +8.28% over 5 years. The fund trailed its Ultrashort Government Bond category average: $100 invested three years ago grew to $111, against $128 for the category, and to $105 over one year, against $106. Volatility over the past three years was 7.52% a year. In the 12 months to May 2026 the fund took in a net $102.0M, and assets reached $2.12B.
EBSAX Growth of $100
What $100 invested in Campbell Systematic Macro Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Ultrashort Government Bond category average over the same months.
| Period | EBSAX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $105 | $106 |
| 3 years (Jun 2023 – May 2026) | $111 | $128 |
| 5 years (Jun 2021 – May 2026) | $149 | $118 |
| Since data start (Apr 2020 – May 2026) | $161 | $142 |
EBSAX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +8.33% |
| 1 year | +4.84% |
| 3 years (annualised) | +3.52% |
| 5 years (annualised) | +8.28% |
EBSAX Annual Returns
Calendar-year total returns of Campbell Systematic Macro Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +8.33% |
| 2025 | −1.31% |
| 2024 | +11.28% |
| 2023 | −2.10% |
| 2022 | +30.59% |
| 2021 | +8.91% |
| 2020 (Apr–Dec) | −2.93% |
EBSAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +2.5% | +2.1% | +2.3% | +2.7% | −1.5% | — | — | — | — | — | — | — |
| 2025 | +5.0% | −1.7% | +2.1% | −1.9% | −1.4% | −0.7% | −1.4% | −0.5% | +2.4% | −1.2% | −2.1% | +0.4% |
| 2024 | −0.1% | +3.7% | +1.6% | +0.8% | −1.6% | +1.7% | +2.3% | −1.4% | +2.3% | −2.3% | +0.7% | +3.1% |
| 2023 | +0.9% | +4.6% | −1.8% | 0.0% | +1.3% | −1.3% | −2.4% | +0.5% | +3.7% | −1.8% | −2.9% | −2.6% |
| 2022 | +5.7% | +0.2% | +9.0% | +7.2% | −1.4% | +5.1% | −1.5% | +4.2% | +3.8% | +0.8% | −3.2% | −2.0% |
| 2021 | −1.9% | +2.6% | +4.8% | +2.6% | +2.9% | −0.6% | +0.8% | −1.1% | −0.7% | +1.4% | −2.8% | +0.9% |
| 2020 | — | — | — | −0.6% | −1.6% | −2.1% | −0.4% | −3.2% | −0.7% | +0.5% | +1.7% | +3.5% |
EBSAX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 7.52%
- 3-year Sharpe ratio: -0.13 (vs 4.5% risk-free rate)
- Best month: +4.98% (Jan 2025)
- Worst month: −2.85% (Nov 2023)
EBSAX Fund Flows
Monthly money in and out of Campbell Systematic Macro Fund, from SEC Form N-PORT.
- 12-month net flow: $102.0M
- 12-month gross sales (incl. reinvestments): $992.3M
- Sales ÷ redemptions: 1.11×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $104.2M | $40.5M | $63.8M |
| Apr 2026 | $94.0M | $85.8M | $8.2M |
| Mar 2026 | $90.9M | $87.0M | $3.9M |
| Feb 2026 | $64.2M | $86.4M | −$22.2M |
| Jan 2026 | $73.1M | $82.5M | −$9.4M |
| Dec 2025 | $58.4M | $93.0M | −$34.5M |
| Nov 2025 | $115.4M | $99.9M | $15.6M |
| Oct 2025 | $113.9M | $71.7M | $42.2M |
| Sep 2025 | $65.5M | $69.6M | −$4.1M |
| Aug 2025 | $78.9M | $64.2M | $14.7M |
| Jul 2025 | $66.3M | $41.9M | $24.4M |
| Jun 2025 | $67.4M | $68.0M | −$605K |
EBSAX Assets Under Management
Net assets of Campbell Systematic Macro Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $2.12B |
| 2026-02-28 | $1.97B |
| 2025-11-30 | $1.94B |
| 2025-08-31 | $1.97B |
| 2025-05-31 | $1.98B |
| 2025-02-28 | $1.69B |
| 2024-11-30 | $1.37B |
| 2024-08-31 | $1.24B |
| 2024-05-31 | $1.13B |
| 2024-02-29 | $963.65M |
| 2023-11-30 | $941.72M |
| 2023-08-31 | $863.07M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.