Fund Evaluator:
LoCorr Spectrum Income I (LSPIX)
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Best Performing in Miscellaneous Allocation Over the Last Year
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Fund Details
LoCorr Spectrum Income I Overview
LoCorr Spectrum Income I (LSPIX) is an actively managed Allocation Miscellaneous Allocation fund. LoCorr Funds launched the fund in 2013.
The investment seeks current income with capital appreciation as a secondary objective. The fund seeks to achieve its investment objectives by allocating its assets primarily among income-producing securities using an "Income" Strategy. The Income strategy employed by the fund's sub-adviser attempts to produce current income and capital appreciation. The composition of the portfolio will vary over time according to the sub-adviser's evaluation of economic and market conditions, including prospects for growth and inflation, as they affect the potential returns from different classes of securities.
About LoCorr Spectrum Income I (LSPIX)
There are 5 members of the management team with an average tenure of 9.83 years: Jon Essen (2013), Art DeGaetano (2016), Justin Byrnes (2023), Steven Carhart (2013), Sean Katof (2016). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. LoCorr Spectrum Income I has 84 securities in its portfolio. The top 10 holdings constitute 23.8% 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.
LoCorr Spectrum Income I is part of the Allocation global asset class and is within the Allocation fund group. LoCorr Spectrum Income I has 12.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 74.8%. There is 7.5% allocated to foreign stock, and 1.5% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 12.6% (8.1% domestic bond, 4.5% foreign bond and 0.1% convertible bond). LoCorr Spectrum Income I has 2.7% of the portfolio in cash.
Assets Under Management
The fund has $46 million in total assets, which is below the $676 million average for the Miscellaneous 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.
LSPIX 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 LoCorr Spectrum Income I expense ratio is high compared to funds in the Miscellaneous Allocation category. LoCorr Spectrum Income I has an expense ratio of 3.19%, which is 222% 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. LoCorr Spectrum Income I has a portfolio turnover rate of 66%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 18% for the Miscellaneous Allocation category.
Recently, in the month of July 2026, LoCorr Spectrum Income I returned 3.3%, which earned it a grade of A, as the Miscellaneous Allocation category had an average return of -0.2%. 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.
LoCorr Spectrum Income I has a trailing yield of 8.59%, which is above the 3.08% category average. The fund normally distributes its income monthly.
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.
LoCorr Spectrum Income I Grades
Year to date, the fund has returned 9.0%, 3.3 percentage points better than the category, which translates into a grade of A. The fund has returned 12.7% over the past year (grade of B), 10.1% over the past three years (grade of C) and 3.8% per year over the past five years (grade of C) and 4.7% per year over the past 10 years (grade of F).
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LSPIX 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 |
|
| LSPIX Return (NAV) | 3.3% | 1.1% | 12.7% | 10.1% | 3.8% | 4.7% |
| LSPIX Grade | A | C | B | C | C | F |
| +/- Category | 3.5% | -0.6% | 1.1% | -0.5% | -1.3% | -1.2% |
| Miscellaneous Allocation Avg | -0.2% | 1.7% | 11.6% | 10.6% | 5.1% | 5.9% |
| LSPIX Tax Cost Ratio | na | na | 3.5% | 3.5% | 3.4% | 3.3% |
LSPIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LSPIX Return (NAV) | 9.0% | 9.8% | 9.1% | 2.0% | -11.0% | 21.5% | -2.6% | 18.7% | -7.9% | 3.8% | 6.9% |
| LSPIX Grade | A | D | C | F | A | A | F | B | F | F | B |
| +/- Category | 3.3% | -3.9% | -0.4% | -10.1% | 3.2% | 9.1% | -9.8% | 1.1% | -3.9% | -8.0% | -0.3% |
| Miscellaneous Allocation Avg | 5.7% | 13.8% | 9.6% | 12.1% | -14.2% | 12.5% | 7.2% | 17.6% | -4.0% | 11.9% | 7.1% |
| Risk Measures | |
| Standard Deviation: | 9.3% |
| Total Risk Index: | 0.76 - Below Average |
| Category Risk Index: | 1.18 - Above Average |
| Category Risk Grade: | D (76% Rank) |
| Beta: | 0.70 |
| R-Squared: | 49% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na |
| Yield: | 8.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $71 Mil |
| Fund Total Assets: | $ 46 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 66% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 12.6 years | |||
| Average Tenure: 9.8 years | |||
| Managers (Year): Essen Jon (2013), Carhart Steven (2013), Katof Sean (2016), DeGaetano Art (2016), Byrnes Justin (2023) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 84 |
| % in Top 10 Holdings: | 23.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 12.0% |
Portfolio Allocation |
|
| Domestic Stock: | 74.8% |
| Foreign Stock: | 7.5% |
| Preferred Stock: | 1.5% |
| Domestic Bond: | 8.1% |
| Foreign Bond: | 4.5% |
| Convertible Bond: | 0.1% |
| Other: | 0.9% |
| Cash: | 2.7% |
Purchase Information
| Fund Family: | LoCorr Funds |
| Phone Number: | 855-523-8637 |
| Website: | www.LoCorrFunds.com |
| Status: | Open |
| Inception Date: | December 31, 2013 |
| 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: | 2.00% |
| 12b-1 Fee: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 3.19% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.99% |
| Share Class: | LoCorr Spectrum Income I |
| Min. Subsequent Purchase: | $ 500 |
| Min. Subsequent IRA Purchase: | $ 0 |
