Fund Evaluator:
Meeder Spectrum Retail (FLSPX)
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Best Performing in Long-Short Equity Over the Last Year
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| 16.6% | ABR 75/25 Volatility Investor (VOLJX) |
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Fund Details
Meeder Spectrum Retail Overview
Meeder Spectrum Retail (FLSPX) is an actively managed Nontraditional Equity Long-Short Equity fund. Meeder Funds launched the fund in 2015.
The investment seeks to provide long-term capital appreciation. The fund seeks to achieve its investment objective by taking long and short positions in the global securities markets. It primarily invests long in common and preferred stocks and in investment companies ("underlying funds"), which include domestic and foreign mutual funds, as well as in exchange traded funds ("ETFs"), closed-end funds, and unit investment trusts. The fund may invest up to 100% of its net assets in fixed income securities of any maturity and of any credit rating (including unrated and high yield fixed income securities) and cash equivalent securities.
About Meeder Spectrum Retail (FLSPX)
There are 2 members of the management team with an average tenure of 9.96 years: Bob Meeder (2015), Joseph Bell (2018). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Morningstar Mod Tgt Risk TR USD index with a weighting of 100%. Meeder Spectrum Retail has 631 securities in its portfolio. The top 10 holdings constitute 50.9% 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.
Meeder Spectrum Retail is part of the Equity global asset class and is within the Nontraditional Equity fund group. Meeder Spectrum Retail has 16.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 83.0%. There is 16.5% 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). Meeder Spectrum Retail has 0.5% of the portfolio in cash.
Assets Under Management
The fund has $14 million in total assets, which is below the $352 million average for the Long-Short Equity 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.
FLSPX 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 Meeder Spectrum Retail expense ratio is high compared to funds in the Long-Short Equity category. Meeder Spectrum Retail has an expense ratio of 1.99%, which is 9% lower than its category average, making the fund expense ratio grade a C. 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. Meeder Spectrum Retail has a portfolio turnover rate of 240%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 287% for the Long-Short Equity category.
Recently, in the month of July 2026, Meeder Spectrum Retail returned 0.2%, which earned it a grade of D, as the Long-Short Equity category had an average return of 2.6%. 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.
Meeder Spectrum Retail has a trailing yield of 0.48%, which is below the 1.15% 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.
Meeder Spectrum Retail Grades
Year to date, the fund has returned 10.9%, 3.4 percentage points better than the category, which translates into a grade of B. The fund has returned 22.2% over the past year (grade of A), 15.8% over the past three years (grade of B) and 9.9% per year over the past five years (grade of C) and 9.4% per year over the past 10 years (grade of B).
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FLSPX 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 |
|
| FLSPX Return (NAV) | 0.2% | 4.2% | 22.2% | 15.8% | 9.9% | 9.4% |
| FLSPX Grade | D | B | A | B | C | B |
| +/- Category | -2.3% | 0.6% | 8.1% | 3.9% | 1.1% | 1.6% |
| Long-Short Equity Avg | 2.6% | 3.6% | 14.1% | 11.9% | 8.8% | 7.9% |
| FLSPX Tax Cost Ratio | na | na | 1.4% | 1.8% | 1.6% | 1.1% |
FLSPX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FLSPX Return (NAV) | 10.9% | 16.1% | 18.2% | 13.7% | -11.5% | 20.6% | -0.2% | 13.0% | -4.0% | 19.3% | 7.0% |
| FLSPX Grade | B | B | B | B | D | B | C | B | B | A | C |
| +/- Category | 3.4% | 4.7% | 4.8% | 0.6% | -7.7% | -0.6% | -6.1% | -0.3% | 4.0% | 7.7% | -0.3% |
| Long-Short Equity Avg | 7.5% | 11.4% | 13.4% | 13.0% | -3.8% | 21.2% | 5.8% | 13.3% | -7.9% | 11.6% | 7.3% |
| Risk Measures | |
| Standard Deviation: | 11.9% |
| Total Risk Index: | 0.97 - Average |
| Category Risk Index: | 1.12 - Above Average |
| Category Risk Grade: | D (79% Rank) |
| Beta: | 0.88 |
| R-Squared: | 91% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.5% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $269 Mil |
| Fund Total Assets: | $ 15 Mil |
| Share Class Type: | Adv |
| Portfolio Turnover: | 240% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 11.6 years | |||
| Average Tenure: 10.0 years | |||
| Managers (Year): Meeder Bob (2015), Bell Joseph (2018) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 631 |
| % in Top 10 Holdings: | 50.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 16.5% |
Portfolio Allocation |
|
| Domestic Stock: | 83.0% |
| Foreign Stock: | 16.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.5% |
Purchase Information
| Fund Family: | Meeder Funds |
| Phone Number: | 800-325-3539 |
| Website: | www.meederfunds.com |
| Status: | Open |
| Inception Date: | January 2, 2015 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $ 500 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.99% ( Rating : High ) |
| Category Average Expense Ratio (%): | 2.19% |
| Share Class: | Meeder Spectrum Retail |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
