Fund Evaluator:

Ocean Park Tactical Core Income A Overview

Ocean Park Tactical Core Income A (SSIZX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. Ocean Park Asset Management, LLC launched the fund in 2011.

The investment seeks to provide total return and to limit exposure to downside risk. The adviser seeks to achieve the fund’s investment objectives by investing primarily in underlying funds that in turn invest in a wide variety of fixed-income instruments of any maturity, including domestic and foreign bonds, some of which are hedged against currency risk, funds that are designed to have returns that are inverse to the 10-year U.S. Treasury note or the 30-year U.S. Treasury bond, as well as real estate investment trusts (“REITs”) and other income-generating underlying assets. It may purchase U.S. Treasury securities directly.

About Ocean Park Tactical Core Income A (SSIZX)

There are 3 members of the management team with an average tenure of 6.73 years: Kenneth Sleeper (2011), Ryan Harder (2023), James Aubin (2024). 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%. Ocean Park Tactical Core Income A has 66 securities in its portfolio. The top 10 holdings constitute 49.8% 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.

Ocean Park Tactical Core Income A is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Ocean Park Tactical Core Income A has 22.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -1.1%. There is 2.7% allocated to foreign stock, and 2.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 96.3% (76.5% domestic bond, 19.8% foreign bond and 1.8% convertible bond). Ocean Park Tactical Core Income A has -0.6% of the portfolio in cash.

Assets Under Management

The fund has $21 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.

SSIZX 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 Ocean Park Tactical Core Income A expense ratio is high compared to funds in the Intermediate Core-Plus Bond category. Ocean Park Tactical Core Income A has an expense ratio of 1.85%, which is 137% 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. Ocean Park Tactical Core Income A has a portfolio turnover rate of 184%, indicating that holds its assets around 0.0 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, Ocean Park Tactical Core Income A returned -0.8%, 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.

Ocean Park Tactical Core Income A has a trailing yield of 4.48%, 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.

Ocean Park Tactical Core Income A Grades

Year to date, the fund has returned -0.1%, 0.6 percentage points better than the category, which translates into a grade of A. The fund has returned 3.0% over the past year (grade of B), 3.6% over the past three years (grade of D) and 0.7% per year over the past five years (grade of A) and 2.1% per year over the past 10 years (grade of B).

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