Investment objective & strategy
As of May 5, 2025 · prospectusObjective. Seeks maximum total return.
Strategy. The Fund uses a valuation methodology to identify securities ICON Advisors, Inc. (ICON), the Funds investment sub-advisor, believes are underpriced relative to value. It normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in a broad range of U.S. dollar-denominated fixed income products. These include corporate bonds, notes and debentures, and closed-end funds that invest at least 80% of their assets in fixed income securities, as well as U.S. government and agency securities. This strategy may not be changed unless Fund shareholders are given at least 60 days prior notice. The Fund generally invests in investment-grade securities, although the Fund may invest up to 35% of its assets in securities with a lower rating … The Fund uses a valuation methodology to identify securities ICON Advisors, Inc. (ICON), the Funds investment sub-advisor, believes are underpriced relative to value. It normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in a broad range of U.S. dollar-denominated fixed income products. These include corporate bonds, notes and debentures, and closed-end funds that invest at least 80% of their assets in fixed income securities, as well as U.S. government and agency securities. This strategy may not be changed unless Fund shareholders are given at least 60 days prior notice. The Fund generally invests in investment-grade securities, although the Fund may invest up to 35% of its assets in securities with a lower rating by both S&P and Moodys. There is no limit on the Funds average maturity or on the maturity of any individual issues in the Fund.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US ULTRA BOND CBT Sep25 | — | $13.42M | 0.03% |
| Nuveen Floating Rate Income Fund COM | JFR | $12.91M | 2.72% |
| STWD Ltd., Series 2021-FL2, Class D | STWD | $12.68M | 2.67% |
| The PNC Financial Services Group, Inc. | PNC | $11.81M | 2.49% |
| UMH Properties, Inc., 6.375%, Series D | UMH D | $11.31M | 2.38% |
| BXMT 2026-FL6 D | — | $9.99M | 2.11% |
| LAFAYETE FEDERAL CREDIT UNION ASSET TRUST 2026-HI1 ABS 2048-02-25 USD | — | $9.73M | 2.05% |
| BXMT Ltd. Series 2021-FL4, Class D | BXMT | $9.71M | 2.05% |
| FLX 2021-1A C | FLX | $8.94M | 1.88% |
| FRST AM-GV OB-X | TMPXX | $8.68M | 1.83% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| AAM Low Duration Preferred and Income Securities ETF · PFLD | 10% | 0.45% |
| Invesco Variable Rate Preferred ETF · VRP | 9% | 0.50% |
| Principal Spectrum Preferred Securities Active ETF · PREF | 8% | 0.55% |
Advisers
| Firm | Role |
|---|---|
| CCM Partners, LP. dba Shelton Capital Management | Adviser |
| ICON ADVISERS | Sub-adviser |
Footnotes
- Expense ratio as of May 5, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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