NAVIX — Navigator Equity Hedged Fund
Data updated: 2024-06-07
NAVIX — Navigator Equity Hedged Fund. United States Multi-Cap / All-Cap Blend / Core Equity · $18.88M AUM. Holdings, fees, performance and SEC filings.
NAVIX Fund Overview
NAVIX — Navigator Equity Hedged Fund is a US mutual fund managed by Northern Lights Fund Trust, categorised as United States Multi-Cap / All-Cap 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: Northern Lights Fund Trust
- Category: United States Multi-Cap / All-Cap Blend / Core Equity
- Assets under management: $18.88M
- 1-year return: 4.6%
- Ticker: NAVIX
- SEC CIK: 0001314414
- SEC series ID: S000030737
- Share class ID: C000095339
NAVIX Investment Objective and Strategy
Navigator Equity Hedged Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Northern Lights Fund Trust.
Investment objective
The Fund seeks long-term capital appreciation.
Principal investment strategy
"The Fund's adviser seeks to achieve the Fund's investment objective by allocating assets across various sectors of the global equity markets by investing primarily in: ? exchange-traded funds that each invest primarily equity securities and ? put options on the Standard & Poor's 500 Index, volatility-linked exchange-traded funds and volatility-linked exchange-traded notes for hedging purposes. The Fund defines equity securities to include both (i) exchange-traded funds (""ETFs"") that invest primarily in common stocks and (ii) put options on the Standard & Poor's 500 Index. The Fund invests without restriction as to capitalization, country (including emerging markets) or trading currency of the individual equity securities held by the ETFs. However, the Fund is subject to sector limits described below.
Under normal market conditions, the Fund invests at least 80% of its assets in equity securities, as defined above. Global Asset Allocation Process The adviser determines global equity sector allocations using its proprietary quantitative relative strength research process. The adviser's research process seeks an optimal asset allocation targeting equity ETF exposure in three areas. The adviser has defined minimum and maximum allocation parameters in each area to seek to prevent the process from steering portfolio construction into an over-concentrated position. The three areas are: ? U.S. equity markets by issuer capitalization and investment style (20%-80%) , ? U.S. equity markets by industry sectors and sub-sectors (5%-50%) , and ? foreign equity markets by region and country (10%-80%) .
The adviser's proprietary research process is applied to rank investments within each of the three targeted market segments. The issuer capitalization and investment style segment groups issuers by their relative market capitalization (e.g. small, mid or large) and by their investment style (e.g. growth or value). Generally, growth refers to issuers with above-average profit or revenue growth, while value refers to issuers with above-average valuation as measured by price to earnings ratio. The sector and sub-sector segment ranks investments in various subsets of the market that share similar characteristics. Securities in the top two relative strength quartiles are investment candidates subject to further research. A representative ETF is selected for inclusion in the portfolio after it is reviewed for sufficient trading liquidity and its fit within overall portfolio diversification needs.
By selecting ETFs using this process, the adviser expects that the Fund will typically hold between 10 and 40 positions. The adviser may engage in frequent buying and selling of securities to achieve the Fund's investment objective. Hedging Process The adviser applies a hedging strategy to protect the portfolio against significant market declines. The adviser uses a protective put hedging strategy and/or volatility-linked ETFs and/or volatility-linked exchange traded notes (ETNs) to hedge the Fund's equity exposure. In the case of protective puts, the Fund pays a price (referred to as a premium) to purchase a put option that gives the Fund the right to sell a security at a set (strike) price even though the market price may be lower. The protective put strategy is executed using exchange-traded S&P 500 Index put options to hedge the portfolio and to reduce volatility.
The protective put strategy seeks to limit downside loss. Generally, S&P 500 put options have an inverse relationship to the S&P 500 Index. In the case of volatility-related hedging, the Fund purchases ETFs and/or ETNs that invest in instruments linked to equity market volatility or the Chicago Board Options Exchange (CBOE) Volatility Index (VIX) futures. Generally, volatility has an inverse relationship to the S&P 500 Index. The Fund invests in volatility-linked instruments to benefit from the expected negative correlation between volatility and equity market returns."
NAVIX Holdings
Top 10 holdings of Navigator Equity Hedged Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| iShare Trust | 9.22% |
| Invesco Exchange Traded Fund Trust II | 9.13% |
| First Trust Exchange-Traded Fund | 8.45% |
| Global X Funds | 6.45% |
| Invesco Exchange-Traded Fund Trust | 6.43% |
| Dreyfus Treasury Obligations Cash Management | 5.18% |
| Vanguard World Fund | 4.70% |
| Spdr Series Trust | 4.70% |
| Invesco Exchange Traded Fund Trust II | 4.66% |
| iShare Trust | 4.66% |
NAVIX Portfolio Allocation
Asset-class allocation of Navigator Equity Hedged Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 89.7% |
| Cash & Equivalents | 7.9% |
| Derivatives | 2.1% |
NAVIX Performance
Total returns for NAVIX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 4.6% |
| 3 years (annualised) | -3.5% |
NAVIX Risk Information
Risk metrics for NAVIX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 12.4%
NAVIX Costs and Fees
NAVIX costs about $140 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.40%
- Gross expense ratio: 2.05%
- Portfolio turnover: 517%
- Brokerage commissions: 89.85 bps of average net assets (SEC N-CEN)
NAVIX Cashflows
Over the 12 months to 2024-04, Navigator Equity Hedged Fund had net inflows of $2.40M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-04 | −$4.04M |
| 2024-03 | −$3.53M |
| 2024-02 | −$5.13M |
| 2024-01 | $1.40M |
| 2023-12 | $1.04M |
| 2023-11 | $2.06M |
NAVIX Debt Constituents
No individual debt constituents are reported in Navigator Equity Hedged Fund's latest SEC N-PORT filing.
NAVIX Prospectus and SEC Filings
Official Navigator Equity Hedged Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-02-23
- Prospectus (485BPOS) — filed 2023-02-24
- Prospectus (485BPOS) — filed 2022-02-23
- Portfolio holdings (N-PORT) — filed 2024-06-07
- Portfolio holdings (N-PORT) — filed 2024-03-01
- Portfolio holdings (N-PORT) — filed 2023-12-15
- Annual census (N-CEN) — filed 2024-01-12
- Annual census (N-CEN) — filed 2023-01-13
Related Funds
Other United States Multi-Cap / All-Cap Blend / Core 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.