What is CYA?

CYA is an actively managed fund-of-funds that invests in US fixed income and income generating ETFs, while investing in derivatives to hedge tail risk.

PERFORMANCE [as of 11/29/22] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
CYA -12.93% -24.42% -43.22% -43.41% -- -- --
CYA (NAV) -13.30% -24.90% -42.53% -42.86% -- -- --
No Underlying Index -- -- -- -- -- -- --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

CYA Factset Analytics Insight

CYA is an easy ticker to remember when considering options available covering tail risk but the strategy is complex. The fund pursues advanced strategies, using derivatives, designed to hedge downside risks tied to US equity investments. At the adviser’s discretion, up to 20% of the portfolio may be positioned in put options, put spreads, interest rate futures and options, credit default swaps, OTC foreign exchange futures and options, and volatility-related derivative contracts or products. The remaining 50-90% of the portfolio is expected to be invested in fixed income and income generating ETFs, including those affiliated with the fund’s adviser. These ETFs may include exposure to high-yield bonds, MLPs, REITs, or inverse S&P 500 VIX products. The objective is to generate income to help reduce the costs associated with the use of derivatives. The fund relies on the adviser’s ability to analyze equity market risk. As such, the fund may also be invested in cash if the adviser does not perceive appropriate opportunities exist.

CYA Summary Data

09/13/21
0.84%
$36.88M
No Underlying Index
N/A
Open-Ended Fund

Peers

N/A

Fund Flows

+$0.00B 5 Days
-$0.01B 30 Days
-$0.04B 90 Days

CYA Fund Structure

Yes
No
-- / --
N/A
N/A
Medium
N/A
N/A

CYA Tax Exposures

20.00% / 39.60%
--
No

CYA Portfolio Data

12.24%
N/A

CYA Index Data

No Underlying Index
Proprietary
Proprietary
N/A

Factset Analytics Block Liquidity

As of 11/30/22

This measurement shows how easy it is to trade a $1 million USD block of CYA. CYA is rated a N/A out of 5.

CYA Tradability

83,078
$1.29M
41,538
$671.74K
1.21%
$0.18
0.05%
5.08% / -2.25%
None
100.00%
25,000
1.66
--
27.48%
0
$12.64
N/A

Options Strategies for Outcome Investing

A collar strategy is a protective option strategy constructed by writing a call and buying a put with the same expiration date while being long the underlying security.