Fund Evaluator:
Pinnacle Multi-Strategy Core I (IPSHX)
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Best Performing in Tactical Allocation Over the Last Year
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Fund Details
Pinnacle Multi-Strategy Core I Overview
Pinnacle Multi-Strategy Core I (IPSHX) is an actively managed Allocation Tactical Allocation fund. Pinnacle launched the fund in 2015.
The investment seeks high total return with reasonable risk. The fund seeks to meet its investment objective by investing, under normal market conditions, in foreign and domestic (i) equity securities of all market capitalizations, (ii) fixed income securities of any credit quality, and (iii) cash and cash equivalents. The advisor intends to generally invest in a mix of asset classes. It may invest in individual securities or in exchange traded funds ("ETFs"), and may invest in emerging markets.
About Pinnacle Multi-Strategy Core I (IPSHX)
There are 2 members of the management team with an average tenure of 10.84 years: R. Sean McCurry (2015), Paul Carroll (2015). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and S&P 500 Equal Weighted TR USD index with a weighting of 100%. Pinnacle Multi-Strategy Core I has 11 securities in its portfolio. The top 10 holdings constitute 91.3% 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.
Pinnacle Multi-Strategy Core I is part of the Allocation global asset class and is within the Allocation fund group. Pinnacle Multi-Strategy Core I has 0.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 27.0%. There is 0.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.5% (0.2% domestic bond, 0.3% foreign bond and 0.0% convertible bond). Pinnacle Multi-Strategy Core I has 71.4% of the portfolio in cash.
Assets Under Management
The fund has $11 million in total assets, which is below the $222 million average for the Tactical Allocation 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.
IPSHX 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 Pinnacle Multi-Strategy Core I expense ratio is high compared to funds in the Tactical Allocation category. Pinnacle Multi-Strategy Core I has an expense ratio of 1.55%, which is 12% 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. Pinnacle Multi-Strategy Core I has a portfolio turnover rate of 350%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 196% for the Tactical Allocation category.
Recently, in the month of July 2026, Pinnacle Multi-Strategy Core I returned -5.0%, which earned it a grade of F, as the Tactical Allocation category had an average return of -0.9%. 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.
Pinnacle Multi-Strategy Core I has a trailing yield of 0.41%, which is below the 2.86% category average. The fund normally distributes its income annually 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.
Pinnacle Multi-Strategy Core I Grades
Year to date, the fund has returned 7.5%, 0.9 percentage points worse than the category, which translates into a grade of C. The fund has returned 18.5% over the past year (grade of B), 11.4% over the past three years (grade of B) and 6.5% per year over the past five years (grade of B) and 7.2% per year over the past 10 years (grade of B).
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IPSHX 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 |
|
| IPSHX Return (NAV) | -5.0% | -1.4% | 18.5% | 11.4% | 6.5% | 7.2% |
| IPSHX Grade | F | F | B | B | B | B |
| +/- Category | -4.1% | -2.9% | 2.3% | 0.8% | 1.2% | 0.8% |
| Tactical Allocation Avg | -0.9% | 1.5% | 16.2% | 10.6% | 5.3% | 6.3% |
| IPSHX Tax Cost Ratio | na | na | 0.8% | 0.8% | 1.5% | 1.2% |
IPSHX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| IPSHX Return (NAV) | 7.5% | 10.9% | 12.4% | 18.9% | -17.4% | 8.7% | 22.2% | 15.0% | -13.0% | 11.1% | 9.1% |
| IPSHX Grade | C | D | B | A | F | D | A | B | F | D | B |
| +/- Category | -0.9% | -1.8% | 3.5% | 8.1% | -4.3% | -4.0% | 12.0% | 1.5% | -6.8% | -2.0% | 3.5% |
| Tactical Allocation Avg | 8.4% | 12.7% | 8.9% | 10.8% | -13.1% | 12.7% | 10.2% | 13.5% | -6.2% | 13.2% | 5.6% |
| Risk Measures | |
| Standard Deviation: | 15.0% |
| Total Risk Index: | 1.23 - Above Average |
| Category Risk Index: | 1.47 - High |
| Category Risk Grade: | F (94% Rank) |
| Beta: | 1.30 |
| R-Squared: | 66% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $27 Mil |
| Fund Total Assets: | $ 12 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 350% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 10.8 years | |||
| Average Tenure: 10.8 years | |||
| Managers (Year): McCurry R. Sean (2015), Carroll Paul (2015) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 11 |
| % in Top 10 Holdings: | 91.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.9% |
Portfolio Allocation |
|
| Domestic Stock: | 27.0% |
| Foreign Stock: | 0.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.2% |
| Foreign Bond: | 0.3% |
| Convertible Bond: | 0.0% |
| Other: | 0.5% |
| Cash: | 71.4% |
Purchase Information
| Fund Family: | Pinnacle |
| Phone Number: | 888-985-9830 |
| Website: |
| Status: | Open |
| Inception Date: | October 1, 2015 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 1.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.55% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.76% |
| Share Class: | Pinnacle Multi-Strategy Core I |
| Min. Subsequent Purchase: | $5,000 |
| Min. Subsequent IRA Purchase: | $ 0 |
