PBXIX Performance — Rational/Pier 88 Convertible Securities Fund, Institutional Shares
Data updated: 2026-08-28
PBXIX returned +10.29% year to date and +11.65% over one year to Jun 2026. Annualised returns are +8.68% over 3 years and +3.45% over 5 years. The fund trailed its Preferred & Convertible category average: $100 invested three years ago grew to $128, against $155 for the category, and to $112 over one year, against $128. Volatility over the past three years was 7.48% a year. In the 12 months to Jun 2026 the fund took in a net $13.1M, and assets reached $232.19M.
PBXIX Growth of $100
What $100 invested in Rational/Pier 88 Convertible Securities Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Preferred & Convertible category average over the same months.
| Period | PBXIX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $112 | $128 |
| 3 years (Jul 2023 – Jun 2026) | $128 | $155 |
| 5 years (Jul 2021 – Jun 2026) | $118 | $137 |
| Since data start (Jan 2020 – Jun 2026) | $145 | $197 |
PBXIX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +10.29% |
| 1 year | +11.65% |
| 3 years (annualised) | +8.68% |
| 5 years (annualised) | +3.45% |
PBXIX Annual Returns
Calendar-year total returns of Rational/Pier 88 Convertible Securities Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +10.29% |
| 2025 | +2.11% |
| 2024 | +8.24% |
| 2023 | +3.30% |
| 2022 | −10.82% |
| 2021 | +10.21% |
| 2020 | +17.09% |
PBXIX 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 | +1.3% | +0.2% | −3.1% | +7.2% | +2.5% | +2.1% | — | — | — | — | — | — |
| 2025 | +1.5% | −0.4% | −2.9% | +0.2% | +0.5% | +2.0% | +1.1% | −0.2% | +0.3% | +0.1% | +0.7% | −0.8% |
| 2024 | −0.3% | +1.2% | +1.5% | −2.1% | +2.1% | +0.5% | +0.8% | +2.2% | +1.8% | −0.1% | +4.5% | −3.9% |
| 2023 | +1.1% | −1.2% | −1.3% | −0.5% | −1.7% | +1.7% | +1.0% | −1.7% | −0.4% | −1.0% | +4.5% | +2.9% |
| 2022 | −3.7% | −0.1% | +1.7% | −5.3% | +0.2% | −5.7% | +3.5% | −0.3% | −5.4% | +4.1% | +1.9% | −1.6% |
| 2021 | 0.0% | +2.9% | −0.8% | +2.8% | −1.1% | +0.6% | +1.7% | +1.0% | −2.3% | +4.6% | −2.3% | +2.9% |
| 2020 | +0.8% | −4.0% | −10.4% | +8.4% | +5.8% | +2.3% | +6.0% | +0.6% | −2.2% | +0.4% | +5.9% | +3.9% |
PBXIX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 7.48%
- 3-year Sharpe ratio: 0.56 (vs 4.5% risk-free rate)
- Best month: +7.22% (Apr 2026)
- Worst month: −3.93% (Dec 2024)
PBXIX Fund Flows
Monthly money in and out of Rational/Pier 88 Convertible Securities Fund, from SEC Form N-PORT.
- 12-month net flow: $13.1M
- 12-month gross sales (incl. reinvestments): $25.9M
- Sales ÷ redemptions: 2.03×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $3.4M | $1.5M | $1.9M |
| May 2026 | $813K | $906K | −$93K |
| Apr 2026 | $2.9M | $1.0M | $1.9M |
| Mar 2026 | $3.9M | $1.5M | $2.4M |
| Feb 2026 | $2.5M | $1.0M | $1.4M |
| Jan 2026 | $1.8M | $893K | $917K |
| Dec 2025 | $2.7M | $1.1M | $1.6M |
| Nov 2025 | $821K | $1.3M | −$525K |
| Oct 2025 | $796K | $764K | $32K |
| Sep 2025 | $2.3M | $1.0M | $1.3M |
| Aug 2025 | $927K | $666K | $261K |
| Jul 2025 | $3.0M | $1.0M | $2.0M |
PBXIX Assets Under Management
Net assets of Rational/Pier 88 Convertible Securities Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $232.19M |
| 2026-03-31 | $205.61M |
| 2025-12-31 | $210.08M |
| 2025-09-30 | $211.45M |
| 2025-06-30 | $206.06M |
| 2025-03-31 | $202.81M |
| 2024-12-31 | $204.69M |
| 2024-09-30 | $148.69M |
| 2024-06-30 | $138.77M |
| 2024-03-31 | $139.03M |
| 2023-12-31 | $137.16M |
| 2023-09-30 | $131.36M |
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.