Fund Evaluator:
SP Funds 2030 Target Date Institutional (SPTMX)
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Best Performing in Target-Date 2030 Over the Last Year
| 15.6% | Victory Target Retirement 2030 (URTRX) |
| 15.6% | Fidelity Advisor Freedom Blend 2030 Z (FJLMX) |
| 15.1% | Fidelity Advisor Sust Trgt Dt 2030 Z (FSXFX) |
| 14.5% | T. Rowe Price Retirement 2030 (TRRCX) |
| 14.3% | Voya Index Solution 2030 Port Z (VSZCX) |
Fund Details
SP Funds 2030 Target Date Institutional Overview
SP Funds 2030 Target Date Institutional (SPTMX) is an actively managed Allocation Target-Date 2030 fund. SP Funds launched the fund in 2024.
The investment seeks a high level of total return through its target date; Thereafter, the fund primarily seeks high current income and secondarily capital appreciation. Under normal conditions, the investment manager allocates the fund’s assets among its target asset classes by investing primarily in a distinctly-weighted combination of other funds, based on each underlying fund’s predominant asset class and strategy. The fund is non-diversified.
About SP Funds 2030 Target Date Institutional (SPTMX)
There are 1 members of the management team with an average tenure of 2.09 years: Naushad Virji (2024). 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 (TR) (1970) index with a weighting of 100%. SP Funds 2030 Target Date Institutional has 7 securities in its portfolio. The top 10 holdings constitute 96.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
SP Funds 2030 Target Date Institutional is part of the Allocation global asset class and is within the Allocation fund group. SP Funds 2030 Target Date Institutional has 59.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 32.9%. There is 12.4% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 47.8% (0.3% domestic bond, 47.5% foreign bond and 0.0% convertible bond). SP Funds 2030 Target Date Institutional has 3.4% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below the $1 billion average for the Target-Date 2030 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.
SPTMX 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 SP Funds 2030 Target Date Institutional expense ratio is high compared to funds in the Target-Date 2030 category. SP Funds 2030 Target Date Institutional has an expense ratio of 0.91%, which is 39% higher than its category average, making the fund expense ratio grade a D. 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. SP Funds 2030 Target Date Institutional has a portfolio turnover rate of 7%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 23% for the Target-Date 2030 category.
Recently, in the month of July 2026, SP Funds 2030 Target Date Institutional returned -1.8%, which earned it a grade of F, as the Target-Date 2030 category had an average return of -0.7%. 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.
SP Funds 2030 Target Date Institutional has a trailing yield of 2.25%, which is below the 2.56% 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.
SP Funds 2030 Target Date Institutional Grades
Year to date, the fund has returned 6.2%, 0.2 percentage points better than the category, which translates into a grade of C. The fund has returned 12.9% over the past year (grade of C).
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SPTMX 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 |
|
| SPTMX Return (NAV) | -1.8% | 1.3% | 12.9% | na | na | na |
| SPTMX Grade | F | F | C | na | na | na |
| +/- Category | -1.0% | -0.5% | 0.3% | na | na | na |
| Target-Date 2030 Avg | -0.7% | 1.8% | 12.6% | 11.0% | 5.5% | 7.9% |
| SPTMX Tax Cost Ratio | na | na | 0.9% | na | na | na |
SPTMX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SPTMX Return (NAV) | 6.2% | 11.5% | na | na | na | na | na | na | na | na | na |
| SPTMX Grade | C | F | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.2% | -2.6% | na | na | na | na | na | na | na | na | na |
| Target-Date 2030 Avg | 6.0% | 14.0% | 9.5% | 14.2% | -15.7% | 11.6% | 13.2% | 20.5% | -6.4% | 17.1% | 7.2% |
| 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: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 2.3% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $5 Mil |
| Fund Total Assets: | $ 2 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 7% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 2.1 years | |||
| Average Tenure: 2.1 years | |||
| Managers (Year): Virji Naushad (2024) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 7 |
| % in Top 10 Holdings: | 96.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 59.9% |
Portfolio Allocation |
|
| Domestic Stock: | 32.9% |
| Foreign Stock: | 12.4% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.3% |
| Foreign Bond: | 47.5% |
| Convertible Bond: | 0.0% |
| Other: | 3.5% |
| Cash: | 3.4% |
Purchase Information
| Fund Family: | SP Funds |
| Phone Number: | 844-773-8637 |
| Website: | www.sp-funds.com |
| Status: | Open |
| Inception Date: | August 29, 2024 |
| Min. Initial Purchase: | $50,000 |
| 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 (%): | 0.91% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.66% |
| Share Class: | SP Funds 2030 Target Date Investor |
| Min. Subsequent Purchase: | $ 25 |
| Min. Subsequent IRA Purchase: | $ 0 |
