SDRAX — Swan Defined Risk Fund
Data updated: 2026-05-28
SDRAX — Swan Defined Risk Fund data: holdings, portfolio allocation, expenses, performance, cashflows, risk and SEC filings. United States Multi-Cap / All-Cap Blend / Core Equity · $587.44M AUM · 1.50% expense ratio · 8.9% 1-yr return. From SEC regulatory filings.
SDRAX Fund Overview
SDRAX — Swan Defined Risk Fund is a US mutual fund managed by Northern Lights Fund Trust III, 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 III
- Category: United States Multi-Cap / All-Cap Blend / Core Equity
- Assets under management: $587.44M
- 1-year return: 8.9%
- Ticker: SDRAX
- SEC CIK: 0001537140
- SEC series ID: S000037505
- Share class ID: C000115777
SDRAX Holdings
Top 10 holdings of Swan Defined Risk Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| iShares Trust | 59.16% |
| Select Sector Spdr Trust | 9.80% |
| Select Sector Spdr Trust | 3.70% |
| Select Sector Spdr Trust | 2.91% |
| Select Sector Spdr Trust | 2.86% |
| Select Sector Spdr Trust | 2.82% |
| Select Sector Spdr Trust | 2.66% |
| Select Sector Spdr Trust | 1.56% |
| Select Sector Spdr Trust | 1.21% |
| Select Sector Spdr Trust | 0.75% |
SDRAX Portfolio Allocation
Asset-class allocation of Swan Defined Risk Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 88.6% |
| Derivatives | 11.7% |
| Cash & Equivalents | 0.5% |
SDRAX Performance
Total returns for SDRAX (as of 2026-08-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | -2.8% |
| 1 year | 8.9% |
| 3 years (annualised) | 9.2% |
| 5 years (annualised) | 5.6% |
SDRAX Risk Information
Risk metrics for SDRAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 5.8%
SDRAX Costs and Fees
SDRAX costs about $150 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.50%
- Gross expense ratio: 1.50%
- Portfolio turnover: 12%
- Brokerage commissions: 8.66 bps of average net assets (SEC N-CEN)
SDRAX Cashflows
Over the 12 months to 2026-03, Swan Defined Risk Fund had net outflows of $57.41M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-03 | −$10.04M |
| 2026-02 | −$8.67M |
| 2026-01 | −$9.12M |
| 2025-12 | $43.94M |
| 2025-11 | −$2.99M |
| 2025-10 | −$7.88M |
SDRAX Debt Constituents
No individual debt constituents are reported in Swan Defined Risk Fund's latest SEC N-PORT filing.
SDRAX Prospectus and SEC Filings
Official Swan Defined Risk Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
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.