Fund Evaluator:
BTS Enhanced Equity Income A (EEQAX)
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Fund Details
BTS Enhanced Equity Income A Overview
BTS Enhanced Equity Income A (EEQAX) is an actively managed U.S. Equity Large Value fund. BTS launched the fund in 2024.
The investment seeks growth and income. The fund seeks to achieve its investment objective by investing at least 80% of its net assets in equity securities of large-cap and mid-cap companies incorporated in the United States. The adviser employs a quantitative investment approach that evaluates companies using fundamental financial metrics and proprietary models designed to identify companies with strong financial characteristics, durable competitive positions, and attractive shareholder return profiles.
About BTS Enhanced Equity Income A (EEQAX)
There are 4 members of the management team with an average tenure of 2.10 years: Vilis Pasts (2024), Matthew Pasts (2024), Isaac Braley (2024), Henry Pasts (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. BTS Enhanced Equity Income A has 55 securities in its portfolio. The top 10 holdings constitute 39.1% 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.
BTS Enhanced Equity Income A is part of the Equity global asset class and is within the U.S. Equity fund group. BTS Enhanced Equity Income A has 0.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.0%. There is 0.1% 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 0.9% convertible bond). BTS Enhanced Equity Income A has 4.0% of the portfolio in cash.
Assets Under Management
The fund has $800 million in total assets, which is below the $1 billion average for the Large Value 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.
EEQAX 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 BTS Enhanced Equity Income A expense ratio is high compared to funds in the Large Value category. BTS Enhanced Equity Income A has an expense ratio of 1.58%, which is 71% 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. BTS Enhanced Equity Income A has a portfolio turnover rate of 177%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of July 2026, BTS Enhanced Equity Income A returned 5.2%, which earned it a grade of A, as the Large Value category had an average return of 2.9%. 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.
BTS Enhanced Equity Income A has a trailing yield of 1.44%, which is above the 1.20% category average. The fund normally distributes its income quarterly 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.
BTS Enhanced Equity Income A Grades
Year to date, the fund has returned 10.6%, 3.7 percentage points worse than the category, which translates into a grade of D. The fund has returned 16.0% over the past year (grade of F).
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EEQAX 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 |
|
| EEQAX Return (NAV) | 5.2% | 3.1% | 16.0% | na | na | na |
| EEQAX Grade | A | F | F | na | na | na |
| +/- Category | 2.3% | -3.1% | -7.8% | na | na | na |
| Large Value Avg | 2.9% | 6.2% | 23.8% | 15.7% | 10.9% | 11.3% |
| EEQAX Tax Cost Ratio | na | na | 0.6% | na | na | na |
EEQAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| EEQAX Return (NAV) | 10.6% | 3.8% | na | na | na | na | na | na | na | na | na |
| EEQAX Grade | D | F | na | na | na | na | na | na | na | na | na |
| +/- Category | -3.7% | -11.4% | na | na | na | na | na | na | na | na | na |
| Large Value Avg | 14.3% | 15.2% | 14.1% | 11.8% | -6.0% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.6% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.4% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $14 Mil |
| Fund Total Assets: | $ 1 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 177% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 2.1 years | |||
| Average Tenure: 2.1 years | |||
| Managers (Year): Pasts Vilis (2024), Pasts Matthew (2024), Braley Isaac (2024), Pasts Henry (2024) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 55 |
| % in Top 10 Holdings: | 39.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.1% |
Portfolio Allocation |
|
| Domestic Stock: | 95.0% |
| Foreign Stock: | 0.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.9% |
| Other: | 0.0% |
| Cash: | 4.0% |
Purchase Information
| Fund Family: | BTS |
| Phone Number: | 877-287-9820 |
| Website: |
| Status: | Open |
| Inception Date: | October 4, 2024 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 3.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.58% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | BTS Enhanced Equity Income I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
