Fund Evaluator:
Brinker Capital Destinations Shelter I (DSHFX)
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Best Performing in Equity Hedged Over the Last Year
| 14.3% | Parametric Volatil Risk Prm-Defensv I (EIVPX) |
| 13.7% | Cavanal Hill Hedged Equity Income Inv (APLIX) |
| 13.5% | Fidelity Advisor Hedged Equity Z (FEQZX) |
| 12.5% | T. Rowe Price Hedged Equity Z (PZHEX) |
| 11.6% | MAI Managed Volatility Investor (DIVPX) |
Fund Details
Brinker Capital Destinations Shelter I Overview
Brinker Capital Destinations Shelter I (DSHFX) is an actively managed Nontraditional Equity Equity Hedged fund. Destinations Funds launched the fund in 2021.
The investment seeks capital appreciation with lower volatility than broad equity markets. The fund’s investment strategy seeks to provide capital appreciation through broad exposure to the equity markets with a lower volatility profile than long-only equity strategies, due to its implementation of a hedging strategy that uses index options to seek to limit the magnitude of negative returns during a declining equity market, thereby reducing the level of positive returns required to recoup losses.
About Brinker Capital Destinations Shelter I (DSHFX)
There are 8 members of the management team with an average tenure of 3.75 years: Timothy Holland (2022), Michael Buckius (2021), Daniel Ashcraft (2021), Mitchell Trotta (2021), Brian Storey (2022), Andrew Goins (2023), John Hoffmann (2026), Kenneth Toft (2021). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Russell 1000 TR USD index with a weighting of 100%. Brinker Capital Destinations Shelter I has 197 securities in its portfolio. The top 10 holdings constitute 43.6% 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.
Brinker Capital Destinations Shelter I is part of the Equity global asset class and is within the Nontraditional Equity fund group. Brinker Capital Destinations Shelter I has 2.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.0%. There is 2.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Brinker Capital Destinations Shelter I has 1.4% of the portfolio in cash.
Assets Under Management
The fund has $88 million in total assets, which is below the $432 million average for the Equity Hedged 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.
DSHFX 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 Brinker Capital Destinations Shelter I expense ratio is high compared to funds in the Equity Hedged category. Brinker Capital Destinations Shelter I has an expense ratio of 1.19%, which is 14% lower than its category average, making the fund expense ratio grade a B. 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. Brinker Capital Destinations Shelter I has a portfolio turnover rate of 12%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 69% for the Equity Hedged category.
Recently, in the month of July 2026, Brinker Capital Destinations Shelter I returned -0.1%, which earned it a grade of D, as the Equity Hedged category had an average return of -0.0%. 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.
Brinker Capital Destinations Shelter I has a trailing yield of 0.01%, which is below the 0.94% category average. The fund normally distributes its income quarterly.
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.
Brinker Capital Destinations Shelter I Grades
Year to date, the fund has returned 4.6%, 0.8 percentage points worse than the category, which translates into a grade of D. The fund has returned 11.8% over the past year (grade of C) and 12.5% over the past three years (grade of B).
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DSHFX 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 |
|
| DSHFX Return (NAV) | -0.1% | 2.4% | 11.8% | 12.5% | na | na |
| DSHFX Grade | D | C | C | B | na | na |
| +/- Category | -0.1% | 0.3% | 1.2% | 2.6% | na | na |
| Equity Hedged Avg | -0.0% | 2.1% | 10.6% | 9.9% | 5.9% | 6.6% |
| DSHFX Tax Cost Ratio | na | na | 0.0% | 0.1% | na | na |
DSHFX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| DSHFX Return (NAV) | 4.6% | 11.2% | 19.5% | 17.2% | -16.0% | na | na | na | na | na | na |
| DSHFX Grade | D | B | A | A | F | na | na | na | na | na | na |
| +/- Category | -0.8% | 1.8% | 7.3% | 4.9% | -6.2% | na | na | na | na | na | na |
| Equity Hedged Avg | 5.4% | 9.4% | 12.2% | 12.3% | -9.8% | 11.3% | 10.8% | 14.1% | -2.7% | 8.9% | 4.5% |
| Risk Measures | |
| Standard Deviation: | 9.2% |
| Total Risk Index: | 0.75 - Below Average |
| Category Risk Index: | 1.16 - Above Average |
| Category Risk Grade: | D (72% Rank) |
| Beta: | 0.70 |
| R-Squared: | 98% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | |
| Total Assets: | $90 Mil |
| Fund Total Assets: | $ 88 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 12% |
Management Team
| Number of Managers: 8 | |||
| Longest Tenure: 4.8 years | |||
| Average Tenure: 3.8 years | |||
| Managers (Year): Buckius Michael (2021), Ashcraft Daniel (2021), Trotta Mitchell (2021), Toft Kenneth (2021), Storey Brian (2022), Holland Timothy (2022), Goins Andrew (2023), Hoffmann John (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 197 |
| % in Top 10 Holdings: | 43.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.6% |
Portfolio Allocation |
|
| Domestic Stock: | 96.0% |
| Foreign Stock: | 2.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.4% |
Purchase Information
| Fund Family: | Destinations Funds |
| Phone Number: | 877-771-7979 |
| Website: |
| Status: | Open |
| Inception Date: | October 26, 2021 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.19% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.39% |
| Share Class: | Brinker Capital Destinations Shelter I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
