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Hedged Equity Fund

The Hedged Equity strategy seeks to provide risk mitigation during significant equity market drawdowns while also participating in the upside by investing in a combination of option hedging and equity allocation.

Overall Morningstar rating as of July 31, 2022. Based on risk-adjusted returns. Category: Options Trading out of 113 funds.

More Information

$10.41
8/16/2022

-1.05
8/16/2022
at NAV

NAV Disclosure

Why This Fund?

  • Equity Exposure: Employs an options strategy that seeks to participate in equity markets (S&P 500) with less risk
  • Consistent Risk Mitigation: Aims to improve asset allocation by managing both volatility and correlation in equity market declines and seeks to reduce the risk of large drawdowns through a systematic put strategy
  • Adaptable: Highly adaptable to changing volatility (VIX) levels via short-term laddered put options
  • Correlation: Low correlation to fixed income, yet buffers like fixed income. Aims to provide low-to-negative correlation during market drawdowns.

Fund Facts

INCEPTION DATE
08/03/2015
NET ASSETS
$74MM
ASSET CLASS
Alternative, Equity
MORNINGSTAR CATEGORY
Options Trading
BENCHMARK
S&P 500 TR
GROSS EXPENSES
1.92% View Disclosure
NET EXPENSES
1.38% View Disclosure
CUSIP
470258708

Monthly Returns

4.16%-2.47%1.27%6.21%6.42%5.16%
4.95%-6.77%-3.40%4.80%4.43%-
View Disclosure

Past performance does not guarantee future results and current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate, so that shares when redeemed may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 888.814.8180.

Daily Pricing and Returns

$10.41 0.10 -1.05
View Disclosure

Past performance does not guarantee future results and current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate, so that shares when redeemed may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 888.814.8180.

Quarterly Returns

-4.18%-6.37%-1.81%5.11%5.68%4.61%
-9.35%-11.12%-7.15%3.59%3.85%-
View Disclosure

Past performance does not guarantee future results and current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate, so that shares when redeemed may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 888.814.8180.

Calendar Year Performance

 202120202019201820172016
HEDGED EQUITY FUND I (JDIEX)11.27%7.32%12.11%1.52%
6.67%
2.36%
Morningstar Options Trading Category10.69%7.16%11.34%-3.45%
6.02%
3.31%
View Disclosure

Past performance does not guarantee future results and current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate, so that shares when redeemed may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 888.814.8180.

Fund Statistics - 3 Year

Standard Deviation

6.65% 

Sharpe Ratio

0.69 

Sortino Ratio

1.01 

Max Drawdown

-7.20% 

Worst Quarter

-6.84% 

Upside Capture Ratio

35.99% 

Downside Capture Ratio

30.67% 

View Glossary

Strategy Statistics

 CallsLong PutsShort Puts
Percent Hedged With Options100%>140%
Weighted Average Days to Expiration 13.9316.19
Weighted Average Moneyness5.26%1.37%-4.52%
Call Premium to Earn0.21%N/A
Put Premium CostN/A2.08%
View Disclosure

Distribution History

Distribution  DateDistribution  NAVLong-Term 
Capital Gain
Short-Term 
Capital Gain
Return of  CapitalDividend  IncomeDistribution  Total
12/9/202111.58---1.121.12
12/24/202010.44---0.760.76
7/22/202010.730.020.04--0.05
12/24/201910.520.010.20-0.000.21
12/13/20189.860.240.44-0.341.03
12/18/201710.40---0.270.27
12/19/201610.02---0.010.01
12/21/20159.72---0.040.04

Info


Easterly Funds


EAB Investment Group
EAB specializes in risk mitigation strategies and works with hedge funds, family offices, high-net-worth individuals, investment companies and other advisors. EAB Investment Group uses equity and index option strategies based on a proprietary process with the goal to reduce portfolio risk and increase the probability of success. A deep understanding of options pricing enables EAB to manage carry and attempt to mitigate costs over time, and potentially optimize monetization.

 


2011

Philadelphia, PA

Portfolio Manager(s)

Bill Visconto

Bill Visconto

Portfolio Manager
26 Years of Industry Experience


Head Volatility Trader, McGowan Investors LLC
Co-founder, Volare Capital
Head of Portfolio Management and Trading Operations, PFTC Trading

Arnim Holzer

Arnim Holzer

Client Portfolio Manager
41 Years of Industry Experience


Founder, ASH Strategy, LLC
Portfolio Manager, Deutsche Asset Management
Portfolio Manager, Israel Discount Bank of New York

Ed Boll

Ed Boll

Chief Executive Officer
31 Years of Industry Experience


Co-founder, DC Trading Partners, LLC
Portfolio Risk Manager, Goldman Sachs SLK-Hull Derivatives Group
TFM Investment Group

Jim Ryan

Jim Ryan

President
36 Years of Industry Experience


Co-founder, RB Derivatives LP
Co-founder, Heard Trading, LLC

Documents

Easterly Hedged Equity Fund Morningstar Rating

Overall 3-Year 5-Year
Morningstar Star Rating 5 4 5
# Funds in Category 113 113 72

© 2022 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

The Morningstar Rating™ for funds or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating metrics.

Morningstar Rating is for the I share class only; other classes may have different performance characteristics.

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