Loading fund…
Loading fund…
| Returns | 1D | 1M | 3M | YTD | 1Y | 3Y | 5Y | MAX |
|---|---|---|---|---|---|---|---|---|
| Total return | ▼ −0.4% | ▼ −1.1% | ▼ −3.7% | — | — | — | — | ▼ −1.6% |
| Peer average | ▼ −0.3% | ▼ −1.4% | ▼ −2.1% | ▲ +11.1% | ▲ +12.1% | ▲ +74.6% | ▲ +57.1% | — |
| S&P 500 · VOO | ▼ −0.5% | ▼ −2.3% | ▼ −2.2% | ▲ +11.2% | ▲ +11.8% | ▲ +89.5% | ▲ +77.1% | — |
Reported holdings are shown below. A share-of-fund chart is unavailable for this portfolio.
Holdings as of 2026-11-03. Derivatives are shown using their reported instrument names.
| Holding | Instrument | Weight |
|---|---|---|
| IVViShares Core S&P 500 ETF | Reported holding | 37.72% |
| SMMUPIMCO Short Term Municipal Bond Active Exchange-Traded Fund | Reported holding | 23.69% |
| HYMBState Street SPDR Nuveen ICE High Yield Municipal Bond ETF | Reported holding | 17.07% |
| HYDVanEck High Yield Muni ETF | Reported holding | 8.59% |
| MUNIPIMCO Intermediate Municipal Bond Active Exchange-Traded Fund | Reported holding | 4.14% |
| MUBiShares National Muni Bond ETF | Reported holding | 3.68% |
| 912797VF1United States Treasury Bill 06/10/2027 | Reported holding | 1.99% |
| MINOPIMCO Municipal Income Opportunities Active Exchange-Traded Fund | Reported holding | 1.65% |
| IVV 12/18/2026 770 C | Reported holding | 1.00% |
| Cash & Other | Reported holding | 0.88% |
| ITMVanEck Intermediate Muni ETF | Reported holding | 0.74% |
| MLNVanEck Long Muni ETF | Reported holding | 0.48% |
| FIGXXFIDELITY INV MMKT GOVT-I 12/31/2031 | Reported holding | 0.07% |
| IVV 12/18/2026 770 P | Reported holding | -1.72% |
LCTO seeks to outperform the S&P 500 Index by investing in derivatives, such as options, futures, and swaps, that reference US large-cap ETFs. The strategy provides such exposure with less capital than holding the equities directly. As such, the fund seeks a high level of risk-adjusted after-tax income through fixed-income securities, with the adviser evaluating and actively trading debt securities based on their estimated after-tax income potential. Fixed-income securities primarily include municipal bonds and municipal bond ETFs issued by public or private entities. The fund may also invest in foreign fixed-income securities, with emerging market exposure capped at 10% of total assets. Up to 20% of the debt securities may be rated below investment grade. Holdings may include common stocks.
Distribution yield and SEC yield use different methodologies. Payouts may include income, capital gains, or return of capital.
| Ex-date | Pay date | Per share |
|---|---|---|
| 2026-10-28 | 2026-10-29 | $0.05 |
| 2026-09-23 | 2026-09-24 | $0.05 |
| 2026-08-26 | 2026-08-27 | $0.05 |
Estimated annual expense excludes trading costs and assumes constant assets. Fee waivers and fund costs can change.
Historical risk measures describe past behavior and do not predict future returns.
Hear the strategy from the people behind LCTO.