Morningstar

Swan Defined Risk Fund Class A Shares SDRAX

Medalist Rating as of Sep 30, 2026 See Swan Wealth Advisors Investment Hub

Strategy

The investment seeks long term capital appreciation. Using the sub-adviser’s proprietary Defined Risk Strategy (“DRS”) to select the fund’s investments, the fund seeks to achieve its investment objective by investing directly, or indirectly through ETFs, in equity securities that are represented in the S&P 500 Index, exchange-traded long-term put options on the S&P 500 Index for hedging purposes, and buying and selling exchange-traded put and call options on various equity indices to generate additional returns.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
SDRIX	Swan Defined Risk Fund Class I Shares	Institutional	Open			Jul 30, 2012	$401.90M	1.240%	Average	$100,000	−$86.07M
SDRAX	Swan Defined Risk Fund Class A Shares	Front Load	Open			Jul 30, 2012	$128.26M	1.490%	Average	$2,500	−$11.52M
SDRCX	Swan Defined Risk Fund Class C Shares	Level Load	Open			Oct 18, 2012	$27.90M	2.240%	Average	$2,500	−$22.61M

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