HSAFX Performance — Hussman Strategic Allocation Fund
Data updated: 2026-08-28
HSAFX returned −10.08% year to date and −16.95% over one year to Jun 2026. Annualised returns are −13.84% over 3 years and −14.86% over 5 years. The fund trailed its US Small Blend category average: $100 invested three years ago grew to $64, against $156 for the category, and to $83 over one year, against $133. Volatility over the past three years was 4.79% a year. In the 12 months to Jun 2026 the fund lost a net $3.5M, and assets reached $24.20M.
HSAFX Growth of $100
What $100 invested in Hussman Strategic Allocation Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Blend category average over the same months.
| Period | HSAFX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $83 | $133 |
| 3 years (Jul 2023 – Jun 2026) | $64 | $156 |
| 5 years (Jul 2021 – Jun 2026) | $45 | $141 |
| Since data start (Apr 2020 – Jun 2026) | $46 | $276 |
HSAFX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −10.08% |
| 1 year | −16.95% |
| 3 years (annualised) | −13.84% |
| 5 years (annualised) | −14.86% |
HSAFX Annual Returns
Calendar-year total returns of Hussman Strategic Allocation Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | −10.08% |
| 2025 | −10.02% |
| 2024 | −15.11% |
| 2023 | −14.81% |
| 2022 | −12.68% |
| 2021 | −10.54% |
| 2020 (Apr–Dec) | +1.28% |
HSAFX 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 | −2.0% | +0.4% | −1.1% | −4.1% | −2.2% | −1.5% | — | — | — | — | — | — |
| 2025 | +0.4% | −0.7% | +1.2% | −1.0% | −0.6% | −1.9% | −2.9% | +2.4% | −2.7% | −3.8% | +0.1% | −0.9% |
| 2024 | −1.7% | −1.3% | −0.1% | −2.0% | −1.4% | −3.0% | −0.8% | −1.9% | −0.4% | −1.0% | −0.2% | −2.5% |
| 2023 | −0.2% | −2.6% | −1.3% | −0.9% | −3.5% | −0.3% | −0.1% | −2.0% | −2.3% | −2.3% | −1.0% | +0.8% |
| 2022 | +0.3% | −1.0% | −2.5% | −1.2% | −0.8% | −2.8% | −1.5% | −1.5% | −2.5% | −0.2% | +1.6% | −1.3% |
| 2021 | +5.5% | −2.2% | +1.5% | −0.4% | +1.0% | −3.0% | −3.3% | −1.8% | −2.1% | −3.3% | −1.3% | −1.2% |
| 2020 | — | — | — | +1.1% | +0.3% | −1.4% | +5.9% | +3.2% | −7.0% | −0.2% | +0.4% | −0.5% |
HSAFX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 4.79%
- 3-year Sharpe ratio: -3.83 (vs 4.5% risk-free rate)
- Best month: +2.44% (Aug 2025)
- Worst month: −4.14% (Apr 2026)
HSAFX Fund Flows
Monthly money in and out of Hussman Strategic Allocation Fund, from SEC Form N-PORT.
- 12-month net flow: −$3.5M
- 12-month gross sales (incl. reinvestments): $2.5M
- Sales ÷ redemptions: 0.42×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $124K | $400K | −$277K |
| May 2026 | $33K | $571K | −$537K |
| Apr 2026 | $175K | $157K | $18K |
| Mar 2026 | $56K | $470K | −$414K |
| Feb 2026 | $325K | $1.3M | −$948K |
| Jan 2026 | $341K | $415K | −$74K |
| Dec 2025 | $170K | $662K | −$491K |
| Nov 2025 | $251K | $241K | $10K |
| Oct 2025 | $325K | $509K | −$184K |
| Sep 2025 | $65K | $25K | $40K |
| Aug 2025 | $251K | $368K | −$117K |
| Jul 2025 | $423K | $927K | −$504K |
HSAFX Assets Under Management
Net assets of Hussman Strategic Allocation Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $24.20M |
| 2026-03-31 | $26.05M |
| 2025-12-31 | $27.08M |
| 2025-09-30 | $27.88M |
| 2025-06-30 | $28.28M |
| 2025-03-31 | $27.39M |
| 2024-12-31 | $26.33M |
| 2024-09-30 | $27.42M |
| 2024-06-30 | $26.59M |
| 2024-03-31 | $27.61M |
| 2023-12-31 | $28.51M |
| 2023-09-30 | $27.67M |
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.