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Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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Mutual fund SVARX



  • I would like to know how I can find out how much leverage is used in a fund. I use the Schwab platform. Tkx!

    Knowing already that it's highly leveraged--- according to this thread (SVARX), I see what Morningstar offers in terms of examining what's in the fund's portfolio. Under "other," there's a BIG chunk of stuff. It seems to me that "other" ought to be a catch-all for a small portion of miscellaneous stuff that can't be accounted for, otherwise. But SVARX shows 38.14% in "Other." weird. It's a backdoor way of seeing it. But I suppose that is what's going on there.
  • I bought SVARX at firstrade, FWIW. Very happy. My view is that this is a solid fund in normal times but excels in market dislocations, like picking up IOFIX after it cratered.
  • @crash thanks! Just wanted to know for future analysis of all funds...not just SVARX.
  • I see no cratering like IOFIX !
    Stay Safe, Derf
  • Dang!

    Why all the acrimony?

    FWIW, I appreciate FD's postings...brings up insight, views that sometimes I align with, sometimes nada...but always makes me think

    Let the guy post without all the chippiness. His style is his style, ya, some bravado but who cares? If you disagree, do it respectfully and try to educate the rest of us why you think differently.


    Best to all,

  • edited January 2021
    Just looked at this fund again on Schwab. On the first page under "fund profile", it says "leveraged fund" I wonder if the outperformance is from buying distressed of their largest holdings, BDKNX, is still down 30% from the COVID crash.
  • edited January 2021
    little5bee said: "I wonder if the outperformance is from buying distressed funds..."

    I don't have a clue what the manager's secret sauce is, but SVARX's "outperformance" since its inception in 2013 seems to indicate that he knows what he is doing. Besides, he has over $1 million of his own money in the fund.

    M* ranks the fund #1 in the "non-traditional" bond category for 1, 3 and 5 years, and MFO gave it a "Golden Owl" and put it on its Honor Roll.

    During the past 5 years, its largest monthly loss was 1.28% in May of 2019, and during last year's market crash, SVARX actually gained 0.97% in February and lost only 0.92% in March. With a pleasing standard deviation of 5.36% and an excellent Sortino ratio of 4.94, what's not to like?

    The fund has certainly made me good money and I will, of course, keep a close eye on it. If the manager should loose his Midas touch at some point, I will not hesitate to press the sell button.

    Good luck,


  • beebee
    edited January 2021
    Aside from an outstanding 2020, SVARX has ebb above and below a multi-sector fund like PTIAX. When I see these two charted together I am reminded that owning an equal share of both helps smooths things even further than one alone if low volatility is your goal.

    Here's the two individually and then combine (50/50):
    Individually and Equal Weighted
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