Fund Evaluator:
Holbrook Total Return I (HOTIX)
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Best Performing in Intermediate Core-Plus Bond Over the Last Year
| 4.1% | Diamond Hill Core Plus Bond Y (DHNYX) |
| 3.9% | Diamond Hill Core Plus Bond I (DHNIX) |
| 3.7% | Diamond Hill Core Plus Bond Investor (DHNAX) |
| 3.5% | Weitz Core Plus Income Investor (WCPNX) |
| 3.4% | Nuveen Core Plus Bond I (TCBHX) |
Fund Details
Holbrook Total Return I Overview
Holbrook Total Return I (HOTIX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. Holbrook Holdings launched the fund in 2025.
The investment seeks to provide current income and the opportunity for capital appreciation to produce a total return. The fund seeks to achieve its investment objective by under normal circumstances, investing at least 80% of its net assets (including the amount of any borrowings for investment purposes) in fixed income investments, including bonds, notes and other debt instruments, and derivatives relating to such investments.
About Holbrook Total Return I (HOTIX)
There are 3 members of the management team with an average tenure of 1.26 years: Scott Carmack (2025), Ethan Lai (2025), Daniel Toomey (2025). Management tenure is more important for actively managed funds than passive index funds.
Holbrook Total Return I has 82 securities in its portfolio. The top 10 holdings constitute 26.1% 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.
Holbrook Total Return I is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Holbrook Total Return I has 4.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 11.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 84.3% (79.7% domestic bond, 4.7% foreign bond and 0.0% convertible bond). Holbrook Total Return I has 4.6% of the portfolio in cash.
Assets Under Management
The fund has $26 million in total assets, which is below the $1 billion average for the Intermediate Core-Plus 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.
HOTIX 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 Holbrook Total Return I expense ratio is high compared to funds in the Intermediate Core-Plus Bond category. Holbrook Total Return I has an expense ratio of 1.15%, which is 48% 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. Holbrook Total Return I has a portfolio turnover rate of 20%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 181% for the Intermediate Core-Plus Bond category.
Recently, in the month of July 2026, Holbrook Total Return I returned -0.3%, which earned it a grade of A, as the Intermediate Core-Plus Bond category had an average return of -1.3%. 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.
Holbrook Total Return I has a trailing yield of 7.06%, which is above the 4.36% 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.
Holbrook Total Return I Grades
Year to date, the fund has returned 2.1%, 2.7 percentage points better than the category, which translates into a grade of A. The fund has returned 5.0% over the past year (grade of A).
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HOTIX 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 |
|
| HOTIX Return (NAV) | -0.3% | 0.6% | 5.0% | na | na | na |
| HOTIX Grade | A | A | A | na | na | na |
| +/- Category | 1.0% | 1.4% | 2.3% | na | na | na |
| Intermediate Core-Plus Bond Avg | -1.3% | -0.7% | 2.7% | 4.2% | -0.2% | 1.8% |
| HOTIX Tax Cost Ratio | na | na | 2.8% | na | na | na |
HOTIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HOTIX Return (NAV) | 2.1% | na | na | na | na | na | na | na | na | na | na |
| HOTIX Grade | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 2.7% | na | na | na | na | na | na | na | na | na | na |
| Intermediate Core-Plus Bond Avg | -0.6% | 7.3% | 2.3% | 6.1% | -13.4% | -0.6% | 8.6% | 9.1% | -0.9% | 4.4% | 4.3% |
| 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: | na |
| Bond Investment Style: | na |
| Yield: | 7.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $26 Mil |
| Fund Total Assets: | $ 27 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 20% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 1.3 years | |||
| Average Tenure: 1.3 years | |||
| Managers (Year): Carmack Scott (2025), Lai Ethan (2025), Toomey Daniel (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 82 |
| % in Top 10 Holdings: | 26.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.7% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 11.1% |
| Domestic Bond: | 79.7% |
| Foreign Bond: | 4.7% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.6% |
Purchase Information
| Fund Family: | Holbrook Holdings |
| Phone Number: | 877-345-8646 |
| Website: |
| Status: | Open |
| Inception Date: | May 1, 2025 |
| Min. Initial Purchase: | $100,000 |
| 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 (%): | 1.15% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | Holbrook Total Return I |
| Min. Subsequent Purchase: | $ 500 |
| Min. Subsequent IRA Purchase: | $ 0 |
