SMNIX Performance — Steward Equity Market Neutral Fund, Institutional Class
Data updated: 2026-09-28
SMNIX returned +7.98% year to date and +13.22% over one year to Jul 2026. The annualised 3-year return is +6.56%. The fund trailed its US Large Blend category average: $100 invested three years ago grew to $121, against $153 for the category, and to $113 over one year, against $116. Volatility over the past three years was 9.16% a year. In the 12 months to Jul 2026 the fund lost a net $7.2M, and assets reached $117.30M.
SMNIX Growth of $100
What $100 invested in Steward Equity Market Neutral Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Large Blend category average over the same months.
| Period | SMNIX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $113 | $116 |
| 3 years (Aug 2023 – Jul 2026) | $121 | $153 |
| Since data start (Nov 2021 – Jul 2026) | $132 | $153 |
SMNIX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +7.98% |
| 1 year | +13.22% |
| 3 years (annualised) | +6.56% |
SMNIX Annual Returns
Calendar-year total returns of Steward Equity Market Neutral Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +7.98% |
| 2025 | +1.83% |
| 2024 | +4.12% |
| 2023 | +0.75% |
| 2022 | +11.24% |
| 2021 (Nov–Dec) | +2.60% |
SMNIX 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 | −0.5% | −1.2% | +3.5% | +0.7% | −3.1% | +1.6% | +7.0% | — | — | — | — | — |
| 2025 | −0.9% | +3.0% | +1.3% | −0.7% | +0.5% | −2.1% | −3.8% | −1.1% | +2.0% | +0.6% | +0.7% | +2.6% |
| 2024 | +6.5% | −1.5% | +2.4% | 0.0% | −0.4% | +0.7% | +1.0% | +0.1% | −0.8% | −0.8% | −3.8% | +1.0% |
| 2023 | −4.6% | +0.2% | +0.4% | +2.0% | −1.1% | +0.1% | −1.6% | +2.7% | +3.1% | +4.5% | +0.8% | −5.3% |
| 2022 | +5.1% | −3.7% | −0.8% | +3.0% | +1.7% | −0.5% | +0.6% | −1.3% | +1.2% | +3.3% | +1.8% | +0.5% |
| 2021 | — | — | — | — | — | — | — | — | — | — | +0.4% | +2.2% |
SMNIX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 9.16%
- 3-year Sharpe ratio: 0.23 (vs 4.5% risk-free rate)
- Best month: +7.05% (Jul 2026)
- Worst month: −5.29% (Dec 2023)
SMNIX Fund Flows
Monthly money in and out of Steward Equity Market Neutral Fund, from SEC Form N-PORT.
- 12-month net flow: −$7.2M
- 12-month gross sales (incl. reinvestments): $69.7M
- Sales ÷ redemptions: 0.91×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $7.1M | $2.3M | $4.8M |
| Jun 2026 | $3.2M | $1.3M | $1.9M |
| May 2026 | $1.3M | $2.9M | −$1.6M |
| Apr 2026 | $4.5M | $2.4M | $2.1M |
| Mar 2026 | $2.0M | $5.1M | −$3.1M |
| Feb 2026 | $3.6M | $1.9M | $1.8M |
| Jan 2026 | $3.1M | $4.2M | −$1.1M |
| Dec 2025 | $8.2M | $5.3M | $2.9M |
| Nov 2025 | $1.7M | $4.4M | −$2.6M |
| Oct 2025 | $8.3M | $26.8M | −$18.5M |
| Sep 2025 | $23.6M | $13.8M | $9.8M |
| Aug 2025 | $3.1M | $6.6M | −$3.5M |
SMNIX Assets Under Management
Net assets of Steward Equity Market Neutral Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $117.30M |
| 2026-04-30 | $106.12M |
| 2026-01-30 | $102.25M |
| 2025-10-31 | $102.77M |
| 2025-07-31 | $113.90M |
| 2025-04-30 | $114.18M |
| 2025-01-31 | $107.80M |
| 2024-10-31 | $106.91M |
| 2024-07-31 | $103.99M |
| 2024-04-30 | $83.58M |
| 2024-01-31 | $77.99M |
| 2023-10-31 | $70.51M |
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.