HDCEX Performance — Rational Equity Armor Fund, Class C
Data updated: 2026-08-28
HDCEX returned +8.41% year to date and +15.05% over one year to Jun 2026. Annualised returns are +13.33% over 3 years and +5.85% over 5 years. The fund trailed its US Large Value category average: $100 invested three years ago grew to $146, against $158 for the category, and to $115 over one year, against $121. Volatility over the past three years was 10.35% a year. In the 12 months to Jun 2026 the fund took in a net $11.4M, and assets reached $58.88M.
HDCEX Growth of $100
What $100 invested in Rational Equity Armor Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Large Value category average over the same months.
| Period | HDCEX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $115 | $121 |
| 3 years (Jul 2023 – Jun 2026) | $146 | $158 |
| 5 years (Jul 2021 – Jun 2026) | $133 | $165 |
| Since data start (Jan 2020 – Jun 2026) | $165 | $205 |
HDCEX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +8.41% |
| 1 year | +15.05% |
| 3 years (annualised) | +13.33% |
| 5 years (annualised) | +5.85% |
HDCEX Annual Returns
Calendar-year total returns of Rational Equity Armor Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +8.41% |
| 2025 | +11.59% |
| 2024 | +15.81% |
| 2023 | +1.90% |
| 2022 | −11.50% |
| 2021 | +13.39% |
| 2020 | +14.88% |
HDCEX 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 | +1.4% | +0.3% | −3.3% | +7.7% | +3.5% | −1.2% | — | — | — | — | — | — |
| 2025 | +4.4% | −1.8% | −4.6% | +0.3% | +4.4% | +2.6% | +1.1% | +0.4% | +4.8% | +4.1% | −1.5% | −2.8% |
| 2024 | +0.9% | +4.3% | +1.1% | −3.9% | +3.4% | +2.9% | +0.1% | +3.2% | +1.4% | −0.8% | +4.5% | −2.1% |
| 2023 | −1.9% | −1.8% | +1.1% | −3.3% | +0.5% | +3.6% | +1.4% | −1.8% | −3.1% | −0.9% | +5.1% | +3.3% |
| 2022 | −1.1% | −0.4% | +2.3% | −5.8% | −2.4% | −4.5% | +2.0% | −2.3% | −1.7% | +6.3% | +0.6% | −4.6% |
| 2021 | +0.2% | +2.0% | +2.9% | +1.7% | +1.8% | −1.1% | +1.4% | +1.2% | −3.3% | +4.7% | −2.6% | +4.0% |
| 2020 | +5.6% | −5.2% | −3.6% | +5.0% | +5.3% | +0.1% | +3.0% | +2.1% | −3.1% | −2.9% | +5.5% | +3.0% |
HDCEX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 10.35%
- 3-year Sharpe ratio: 0.85 (vs 4.5% risk-free rate)
- Best month: +7.73% (Apr 2026)
- Worst month: −4.61% (Mar 2025)
HDCEX Fund Flows
Monthly money in and out of Rational Equity Armor Fund, from SEC Form N-PORT.
- 12-month net flow: $11.4M
- 12-month gross sales (incl. reinvestments): $22.5M
- Sales ÷ redemptions: 2.04×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $689K | $604K | $85K |
| May 2026 | $379K | $5.0M | −$4.6M |
| Apr 2026 | $464K | $790K | −$326K |
| Mar 2026 | $325K | $510K | −$185K |
| Feb 2026 | $462K | $284K | $178K |
| Jan 2026 | $4.6M | $913K | $3.7M |
| Dec 2025 | $6.2M | $984K | $5.3M |
| Nov 2025 | $4.3M | $453K | $3.8M |
| Oct 2025 | $4.4M | $444K | $3.9M |
| Sep 2025 | $217K | $322K | −$106K |
| Aug 2025 | $354K | $216K | $138K |
| Jul 2025 | $35K | $527K | −$492K |
HDCEX Assets Under Management
Net assets of Rational Equity Armor Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $58.88M |
| 2026-03-31 | $57.72M |
| 2025-12-31 | $54.95M |
| 2025-09-30 | $42.20M |
| 2025-06-30 | $40.03M |
| 2025-03-31 | $37.63M |
| 2024-12-31 | $34.79M |
| 2024-09-30 | $35.14M |
| 2024-06-30 | $33.00M |
| 2024-03-31 | $32.69M |
| 2023-12-31 | $41.64M |
| 2023-09-30 | $44.76M |
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.