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Grizzly Short Fund


Overview

Grizzly Short Fund

Download the quarterly report to get the latest update in printable form on the Grizzly Short Fund including performance, statistics, and commentary.

Quarterly Report


Performance

Performance as of 06/30/2018 GRZZX S&P MidCap S&P 500 Lipper Dedicated Short Bias
Q2 -8.13% 4.29% 3.43% 5.38%
YTD -9.41 3.49 2.65 3.08
1 Year -18.45 13.50 14.37 -12.52
3 Year -12.20 10.89 11.93 -16.25
5 Year -13.30 12.69 13.42 -18.77
10 Year -15.90 10.78 10.17 -18.88
15 Year -12.07 11.39 9.30 -15.15
Since Inception (GRZZX) -8.14 9.31 5.45 -

Performance data quoted represents past performance. Past performance is no guarantee of future results. Investment returns and principal will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. For performance data current to the most recent month-end, please call Leuthold Funds’ Shareholder Services, toll-free: 1-800-273-6886.

  • The Lipper Dedicated Short-Bias Index is composed of funds that employ portfolio strategies that consistently create a net short exposure to the market. This objective also includes short only funds, i.e. funds that pursue short sales of stock or stock index options.

  • S&P MidCap is a capitalization-weighted index measuring the performance of the mid-range sector of the U.S. stock market. S&P 500 is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy. Lipper Dedicated Short Bias, introduced in July 2003, consists of funds with a net short exposure to the market. These are indexes only and cannot be invested in directly. Performance return figures are historical and reflect the change in share price, reinvested distributions, change in net asset value, and capital gains distributions, if any.

  • S&P 500 is a capitalization-weighted index of 500 stocks designed to measure performance of the broad domestic economy. Lipper Flexible Fund is composed of funds that allocate investments across various asset classes, with a focus on total return. These are indexes only and cannot be invested in directly. Performance return figures are historical and reflect the change in share price, reinvested distributions, change in net asset value, and capital gains distributions, if any.

  • The Lipper Dedicated Short-Bias Index and S&P 400 Midcap Index and S&P 500 are indexes only and cannot be invested in directly. Fund performance return figures are historical and reflect the change in share price, reinvested distributions, change in net asset value, and capital gains distributions, if any.

Expense Ratio Disclosure: Per the Prospectus dated 1/31/18, the annual net operating expense excluding acquired fund fees and dividends on short positions was 1.54%; the annual gross operating expense, including acquired fund fees and dividends on short positions was 2.78%.

Please refer to the Prospectus for a more detailed explanation of the expense ratios.


Fund Information

Symbols (Retail/Institutional): GRZZX
Individual Retirement Account (IRA): $1000/$1MM
Regular (non-IRA) Account: $10,000/$1MM
CUSIP: 527289300

*Risks of Investing
As disclosed in the prospectus, the risks of investing in the Fund include, but are not limited to, interest rate risk, market risk, short sale risk, high portfolio turnover risk, currency risk, foreign securities risk, emerging markets risk, foreign securities risk, asset allocation risk, and quantitative investment approach risk. Investing in foreign securities presents risks that may be greater than U.S. securities. These risks include, but are not limited to, currency rate fluctuations, regulatory differences, accounting standards, higher trading costs, and political risks. Please read the prospectus carefully before you invest (1-800-273-6886).


Managers

Greg Swenson, CFA / Co-Portfolio Manager
Co-Portfolio Manager
Kristen Perleberg, CFA / Co-Portfolio Manager
Co-Portfolio Manager

Investors should consider the investment objectives, risks, charges and expenses of the investment company carefully before investing. The Prospectus contains this and other information about the Fund. For current Prospectus, call toll-free 800-273-6886, or go to our documents page. Please read the Prospectus carefully before you invest.

Not FDIC Insured ~ No Bank Guarantee ~ May Lose Value Distributor: Rafferty Capital Markets, LLC, Garden City, NY 11530