Fund Evaluator:
Spirit of America Energy Institutional (SAIEX)
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Fund Details
Spirit of America Energy Institutional Overview
Spirit of America Energy Institutional (SAIEX) is an actively managed Sector Equity Energy Limited Partnership fund. Spirit of America launched the fund in 2020.
The investment seeks to provide investors long-term capital appreciation and current income. The fund seeks to achieve its investment objective by investing at least 80% of its net assets plus any borrowings in a combination of securities and other assets of energy and energy related companies. It seeks to achieve its investment objective through diversified exposure to U.S. and non-U.S. securities of energy companies and energy related companies which are companies that are principally engaged in activities in the energy industry.
About Spirit of America Energy Institutional (SAIEX)
There are 1 members of the management team with an average tenure of 6.63 years: Douglas Revello (2020). 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%. Spirit of America Energy Institutional has 67 securities in its portfolio. The top 10 holdings constitute 47.2% 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.
Spirit of America Energy Institutional is part of the Equity global asset class and is within the Sector Equity fund group. Spirit of America Energy Institutional has 7.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.2%. There is 7.8% 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). Spirit of America Energy Institutional has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $68 million in total assets, which is below the $300 million average for the Energy Limited Partnership 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.
SAIEX 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 Spirit of America Energy Institutional expense ratio is high compared to funds in the Energy Limited Partnership category. Spirit of America Energy Institutional has an expense ratio of 1.28%, which is 26% lower than its category average, making the fund expense ratio grade a B. 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. Spirit of America Energy Institutional has a portfolio turnover rate of 6%, indicating that holds its assets around 0.2 years. By way of comparison, the average portfolio turnover is 40% for the Energy Limited Partnership category.
Recently, in the month of August 2026, Spirit of America Energy Institutional returned 5.4%, which earned it a grade of A, as the Energy Limited Partnership category had an average return of 3.3%. 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.
Spirit of America Energy Institutional has a trailing yield of 12.75%, which is above the 5.01% category average. The fund normally distributes its income semi-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.
Spirit of America Energy Institutional Grades
Year to date, the fund has returned 40.4%, 10.2 percentage points better than the category, which translates into a grade of A. The fund has returned 38.8% over the past year (grade of A), 22.8% over the past three years (grade of D) and 22.8% per year over the past five years (grade of C) and 8.2% per year over the past 10 years (grade of F).
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SAIEX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SAIEX Return (NAV) | 5.4% | 13.3% | 38.8% | 22.8% | 22.8% | 8.2% |
| SAIEX Grade | A | A | A | D | C | F |
| +/- Category | 2.1% | 4.4% | 8.5% | -1.9% | -0.5% | -1.5% |
| Energy Limited Partnership Avg | 3.3% | 8.9% | 30.3% | 24.7% | 23.3% | 9.7% |
| SAIEX Tax Cost Ratio | na | na | 5.7% | 7.1% | 8.1% | na |
SAIEX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SAIEX Return (NAV) | 40.4% | 6.2% | 19.2% | 13.3% | 30.7% | 34.7% | -34.5% | 11.5% | -17.2% | -4.1% | 17.9% |
| SAIEX Grade | A | B | F | D | A | F | F | C | D | B | F |
| +/- Category | 10.2% | 1.7% | -17.0% | -3.6% | 6.0% | -4.6% | -8.2% | -0.4% | -1.3% | 2.5% | -10.5% |
| Energy Limited Partnership Avg | 30.2% | 4.5% | 36.2% | 16.9% | 24.7% | 39.3% | -26.3% | 11.9% | -15.9% | -6.6% | 28.4% |
| Risk Measures | |
| Standard Deviation: | 16.1% |
| Total Risk Index: | 1.32 - Above Average |
| Category Risk Index: | 1.11 - High |
| Category Risk Grade: | F (91% Rank) |
| Beta: | 0.20 |
| R-Squared: | 2% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Value |
| Bond Investment Style: | na |
| Yield: | 12.8% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | |
| Total Assets: | $175 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 6% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 6.6 years | |||
| Average Tenure: 6.6 years | |||
| Managers (Year): Revello Douglas (2020) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 67 |
| % in Top 10 Holdings: | 47.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 7.8% |
Portfolio Allocation |
|
| Domestic Stock: | 92.2% |
| Foreign Stock: | 7.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.1% |
Purchase Information
| Fund Family: | Spirit of America |
| Phone Number: | 800-452-4892 |
| Website: |
| Status: | Open |
| Inception Date: | May 1, 2020 |
| 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: | 0.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.28% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.72% |
| Share Class: | Spirit of America Energy A |
| Min. Subsequent Purchase: | $10,000 |
| Min. Subsequent IRA Purchase: | $ 0 |
