WPINX — WP Income Plus Fund
Data updated: 2022-10-24
WPINX — WP Income Plus Fund. United States Blend / Core Equity · $1.51M AUM · 4.67% expense ratio. Holdings, fees, performance and SEC filings.
WPINX Fund Overview
WPINX — WP Income Plus Fund is a US mutual fund managed by WP Trust, categorised as United States 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: WP Trust
- Category: United States Blend / Core Equity
- Assets under management: $1.51M
- 1-year return: -45.2%
- Ticker: WPINX
- SEC CIK: 0001645192
- SEC series ID: S000051314
- Share class ID: C000161808
WPINX Investment Objective and Strategy
WP Income Plus Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by WP Trust.
Investment objective
Investment Objective. The investment objective of the Income Fund is total return.
Principal investment strategy
Principal Investment Strategy of the Fund. The Income Fund seeks to meet its investment objective by investing approximately 80% in unaffiliated open- and closed-end mutual funds and exchange-traded funds (ETFs) that primarily invest in fixed-income securities (Underlying Bond Funds). The principal types of fixed-income securities in which the Underlying Bond Funds invest are bonds, U.S. Treasury and agency securities, and mortgage-backed and asset-backed securities. The Underlying Bond Funds may invest in fixed income securities of any credit or maturity. The Underlying Bond Funds investments in securities rated below investment-grade are also known as junk bonds and are speculative in nature. The Income Funds investment objective may be changed without shareholder approval; however, the Income Fund will provide 60 days advance notice to shareholders before implementing a change in the Income Funds investment objective.
The Income Fund seeks to produce income through yield on the Underlying Bond Funds. The Income Fund also seeks to produce income (e.g., premium income on the sale of an option) and total return through an options strategy. The Funds investment adviser will generally buy and sell options linked to either the Markit iBoxx USD Liquid High Yield Index or the S&P 500 Index. The Funds exposure to options is expected to be between 10-20% of the Funds net assets. The portfolio managers will strategically allocate the Income Funds resources to the Underlying Bond Funds and the options strategy as the portfolio managers deem appropriate to perform well over a market cycle. The portfolio managers seek to invest in issues that have substantial dividends or interest payments, cash flow generation from owning the securities and selling calls on them, or ownership of the issues permits the manager to sell put options on other funds.
The portfolio managers select the Underlying Bond Funds based on the following criteria: expense ratio, trading value relative to net asset value, liquidity in the marketplace, overall float and size, amount and frequency of distributions, composition of portfolio, performance compared historically to the bond indices and or other income vehicles and the availability of individual call options on the Underlying Bond Funds. The Income Fund intends to sell covered call options on a portion of its holdings. The Funds investment adviser generally sells covered call options to provide the income component of the options strategy described in the Funds investment objective. The extent of option selling will depend upon market conditions and the portfolio managers judgment of the advantages of selling call options on the Income Funds investments.
Options may be written on various indices as well as direct issuance of corporate and governmental issuers. The Income Fund may also sell put options on ETFs that the portfolio managers believe are attractive for purchase at prices at or above the exercise price of the put options sold. The Funds investment adviser generally will sell put options to increase the total return component of the options strategy described in the Funds investment objective. The Income Fund may, in certain circumstances, purchase put options on the S&P 500 (or another broad-based securities index deemed suitable for this purpose) to protect against a loss of principal value due to stock price decline. The adviser generally purchases put options to protect the total return component of the options strategy described in the Funds investment objective.
The extent of option selling or purchasing activity will, again, depend upon market conditions and the portfolio managers assessment of the advantages of selling index call options, purchasing index put options and selling put options on individual stocks. Additionally, the Income Fund will enter into call spreads and put spreads that are out of the money. A spread is an options position established by purchasing one option and selling another option of the same class, but of a different series. So, the exercise price of the call options sold will be above the current level of the index when sold and the exercise price of the call options bought will be above the exercise price of the call options sold. The exercise price of put options sold generally will be below the current level of the index when sold and the exercise price of the put options bought will be below the exercise price of put options sold.
The Income Fund may be appropriate for investors with long-term time horizons who are not sensitive to short-term losses and want to participate in the long-term growth of the financial markets. The portfolio managers rebalance the Income Funds investments in the Underlying Bond Funds as the Funds investment adviser deems necessary and appropriate. The Income Funds investments in the types of securities and other investments described in this prospectus vary from time to time, and, at any time, the Income Fund may not be invested in all of the types of securities and other investments described in this prospectus. The Income Fund may also invest in securities and other investments not described in this prospectus.
WPINX Performance
Total returns for WPINX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -45.2% |
| 3 years (annualised) | -31.3% |
WPINX Risk Information
Risk metrics for WPINX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 32.9%
WPINX Costs and Fees
WPINX costs about $467 per $10,000 invested per year in fund expenses.
- Net expense ratio: 4.67%
- Gross expense ratio: 4.67%
- Portfolio turnover: 6%
- Brokerage commissions: 14.47 bps of average net assets (SEC N-CEN)
WPINX Cashflows
Over the 12 months to 2022-08, WP Income Plus Fund had net outflows of $2.24M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2022-08 | −$1.38K |
| 2022-07 | −$5.80K |
| 2022-06 | −$138.49K |
| 2022-05 | $91.05K |
| 2022-04 | −$26.71K |
| 2022-03 | −$64.92K |
WPINX Debt Constituents
No individual debt constituents are reported in WP Income Plus Fund's latest SEC N-PORT filing.
WPINX Prospectus and SEC Filings
Official WP Income Plus Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-03-28
- Prospectus (485BPOS) — filed 2021-04-12
- Prospectus (485BPOS) — filed 2020-04-16
- Portfolio holdings (N-PORT) — filed 2022-10-24
- Portfolio holdings (N-PORT) — filed 2022-07-13
- Portfolio holdings (N-PORT) — filed 2022-04-20
- Annual census (N-CEN) — filed 2022-02-10
- Annual census (N-CEN) — filed 2021-02-16
Related Funds
Other United States 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.