Fund Evaluator:
Anchor Risk Mgd Income Strategies Instl (ATCSX)
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Fund Details
Anchor Risk Mgd Income Strategies Instl Overview
Anchor Risk Mgd Income Strategies Instl (ATCSX) is an actively managed Taxable Bond Nontraditional Bond fund. Anchor launched the fund in 2015.
The investment seeks to provide long-term growth of capital while providing current income. The fund seeks to achieve its investment objective, utilizing a fund of funds structure, by allocating assets among worldwide market segments based on the adviser's research and analysis regarding market trends. It invests its assets (plus the amount of borrowings,if any) in long and short positions in unaffiliated exchange-traded funds,open-end and closed-end mutual funds and derivative instruments. The fund primarily takes long and short positions in underlying funds and derivatives instruments in domestic and worldwide markets.
About Anchor Risk Mgd Income Strategies Instl (ATCSX)
There are 1 members of the management team with an average tenure of 10.92 years: Garrett Waters (2015). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: HFRX Absolute Return USD index with a weighting of 100%. Anchor Risk Mgd Income Strategies Instl has 17 securities in its portfolio. The top 10 holdings constitute 84.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Anchor Risk Mgd Income Strategies Instl is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Anchor Risk Mgd Income Strategies Instl has 11.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 63.2%. There is 4.4% allocated to foreign stock, and 0.9% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 27.6% (20.8% domestic bond, 6.8% foreign bond and 2.8% convertible bond). Anchor Risk Mgd Income Strategies Instl has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $8 million in total assets, which is below the $663 million average for the Nontraditional Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
ATCSX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Anchor Risk Mgd Income Strategies Instl expense ratio is high compared to funds in the Nontraditional Bond category. Anchor Risk Mgd Income Strategies Instl has an expense ratio of 3.18%, which is 125% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Anchor Risk Mgd Income Strategies Instl has a portfolio turnover rate of 6%, indicating that holds its assets around 0.2 years. By way of comparison, the average portfolio turnover is 304% for the Nontraditional Bond category.
Recently, in the month of July 2026, Anchor Risk Mgd Income Strategies Instl returned -3.1%, which earned it a grade of F, as the Nontraditional Bond category had an average return of -0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Anchor Risk Mgd Income Strategies Instl has a trailing yield of 10.25%, which is above the 4.94% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Anchor Risk Mgd Income Strategies Instl Grades
Year to date, the fund has returned -0.6%, 1.8 percentage points worse than the category, which translates into a grade of F. The fund has returned 3.0% over the past year (grade of D), 3.4% over the past three years (grade of F) and -0.6% per year over the past five years (grade of F) and 1.2% per year over the past 10 years (grade of F).
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ATCSX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ATCSX Return (NAV) | -3.1% | -1.7% | 3.0% | 3.4% | -0.6% | 1.2% |
| ATCSX Grade | F | F | D | F | F | F |
| +/- Category | -2.8% | -2.0% | -1.4% | -2.2% | -3.1% | -1.9% |
| Nontraditional Bond Avg | -0.2% | 0.4% | 4.4% | 5.6% | 2.5% | 3.1% |
| ATCSX Tax Cost Ratio | na | na | 3.9% | 4.1% | 2.6% | 1.7% |
ATCSX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ATCSX Return (NAV) | -0.6% | 4.7% | 4.4% | -2.3% | -6.6% | -0.2% | 11.0% | 4.2% | -4.2% | 2.8% | 3.2% |
| ATCSX Grade | F | D | D | F | C | D | A | D | F | D | F |
| +/- Category | -1.8% | -2.1% | -1.1% | -8.9% | -0.6% | -1.5% | 5.6% | -2.4% | -3.3% | -1.3% | -3.2% |
| Nontraditional Bond Avg | 1.2% | 6.8% | 5.4% | 6.5% | -6.1% | 1.3% | 5.4% | 6.5% | -0.8% | 4.1% | 6.4% |
| Risk Measures | |
| Standard Deviation: | 5.9% |
| Total Risk Index: | 0.48 - Below Average |
| Category Risk Index: | 1.65 - High |
| Category Risk Grade: | F (92% Rank) |
| Beta: | 0.29 |
| R-Squared: | 8% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 10.3% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $15 Mil |
| Fund Total Assets: | $ 8 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 6% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 10.9 years | |||
| Average Tenure: 10.9 years | |||
| Managers (Year): Waters Garrett (2015) | |||
Portfolio Composition (as of 2/28/26)
| # of Holdings: | 17 |
| % in Top 10 Holdings: | 84.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 11.2% |
Portfolio Allocation |
|
| Domestic Stock: | 63.2% |
| Foreign Stock: | 4.4% |
| Preferred Stock: | 0.9% |
| Domestic Bond: | 20.8% |
| Foreign Bond: | 6.8% |
| Convertible Bond: | 2.8% |
| Other: | 0.6% |
| Cash: | 0.6% |
Purchase Information
| Fund Family: | Anchor |
| Phone Number: | 844-594-1226 |
| Website: |
| Status: | Open |
| Inception Date: | September 29, 2015 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 2.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 3.18% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.42% |
| Share Class: | Anchor Risk Mgd Income Strategies Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
