Investment Objective
The Fund seeks long-term capital appreciation by tracking a rules-based DelCOL factor model, before the placeholder expense ratio and trading costs.
Key Facts
| Item | Value |
|---|---|
| Ticker (pseudo) | FDEL |
| CUSIP | Not applicable (hypothetical model portfolio) |
| Listing exchange | Not listed (hypothetical) |
| Underlying model | DelCOL factor (All stocks) |
| Placeholder expense ratio | 0.29% |
| Placeholder inception date | 2019-01-14 |
| Number of holdings (long leg) | 227 |
| Weighting | Cap-weighted |
| Rebalance frequency | Monthly |
| Holdings as of | July 2026 |
Performance
The following performance is HYPOTHETICAL and BACKTESTED — it was calculated by applying the model to historical data with the benefit of hindsight, is gross of the placeholder expense ratio and trading costs, and does not represent the results of any actual account. Past (hypothetical) performance does not guarantee or predict future results.
Hypothetical Calendar-Year Total Returns (long-short backtest)
| Year | Hypothetical Total Return |
|---|---|
| 2017 | -23.02% |
| 2018 | -22.45% |
| 2019 | 3.99% |
| 2020 | -4.23% |
| 2021 | -7.32% |
| 2022 | 35.54% |
| 2023 | -18.82% |
| 2024 | -28.06% |
| 2025 | -19.34% |
| 2026 | -9.59% |
Average Annual Total Returns (hypothetical, as of the most recent sample month)
| Period | Hypothetical Avg. Annual Total Return |
|---|---|
| 1 Year | -20.32% |
| 3 Years | -19.67% |
| 5 Years | -12.11% |
| 10 Years | -9.76% |
| Since Model Inception (full sample) | -7.03% |
Top 10 Holdings (of 227)
| # | Ticker | Company | Sector | Weight | Market Value |
|---|---|---|---|---|---|
| 1 | GILD | GILEAD SCIENCES INC | Healthcare | 13.19% | $13,188,908 |
| 2 | BKNG | BOOKING HOLDINGS INC | Industrials | 11.14% | $11,136,968 |
| 3 | BMY | BRISTOL MYERS SQUIBB CO | Healthcare | 9.81% | $9,812,326 |
| 4 | AON | AON PLC | Financial Services | 6.20% | $6,204,335 |
| 5 | CARR | CARRIER GLOBAL CORP | Basic Materials | 4.51% | $4,513,379 |
| 6 | NDAQ | NASDAQ INC | Financial Services | 4.10% | $4,099,923 |
| 7 | GRMN | GARMIN LTD | Technology | 3.81% | $3,807,457 |
| 8 | UI | UBIQUITI INC | Technology | 2.61% | $2,613,922 |
| 9 | DLTR | DOLLAR TREE INC | Consumer Defensive | 1.91% | $1,914,638 |
| 10 | FSLR | FIRST SOLAR INC | Technology | 1.80% | $1,802,026 |
Sector Allocation
| Sector | Weight | # Holdings |
|---|---|---|
| Healthcare | 28.66% | 58 |
| Industrials | 16.80% | 40 |
| Technology | 15.60% | 40 |
| Financial Services | 11.22% | 4 |
| Consumer Cyclical | 9.94% | 45 |
| Basic Materials | 9.09% | 16 |
| Consumer Defensive | 3.17% | 4 |
| Communication Services | 2.52% | 10 |
| Energy | 1.92% | 7 |
| Real Estate | 0.55% | 2 |
| Utilities | 0.53% | 1 |
Portfolio Characteristics (hypothetical)
| Characteristic | Value |
|---|---|
| Sharpe ratio (full sample) | -0.36 |
| Annualized volatility | 16.55% |
| Maximum drawdown | -89.00% |
| Average monthly turnover | 22.16% |
| Out-of-sample Sharpe (2019-26) | -0.29 |