Swan Defined Risk’s process lacks robustness over multiple scenarios, and its fees are losing their competitiveness compared with an expanding class of peers, resulting in a downgrade of its Morningstar Analyst Rating to Neutral from Bronze.
Will SDRAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable SDRAX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the SDRAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of SDRAX’s parent organization’s priorities and whether they’re in line with investors’ interests.
The Price Pillar compares SDRAX’s fees to similar funds, determining whether or not the fund provides a good value proposition.
The Performance Pillar is our evaluation of whether SDRAX’s returns have been the result of chance or a proven, long-term process and compares the fund with its category or benchmark.