Fund Evaluator:
Toews Tactical Income Fund (THHYX)
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Fund Details
Toews Tactical Income Fund Overview
Toews Tactical Income Fund (THHYX) is an actively managed Taxable Bond Nontraditional Bond fund. Toews Funds launched the fund in 2010.
The investment seeks to provide a high level of current income; a secondary objective of the fund is to limit risk during unfavorable market conditions. The fund's adviser seeks to achieve its investment objectives by investing primarily in: (1) ETFs and open-end investment companies that primarily invest in or are otherwise exposed to domestic and foreign high-yield debt instruments; (2) futures total return swaps or credit default swaps; (3) other U.S. or foreign fixed-income securities of any rating;(4) iBoxx iShares High Yield Corporate Bond Futures contracts or other futures contracts and (5) U.S. or foreign cash equivalents.
About Toews Tactical Income Fund (THHYX)
There are 4 members of the management team with an average tenure of 13.38 years: Randall Schroeder (2010), Jason Graffius (2014), Charles Collins (2017), Phillip Toews (2010). 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 Morningstar US Core Bd TR USD index with a weighting of 100%. Toews Tactical Income Fund has 180 securities in its portfolio. The top 10 holdings constitute 71.1% 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.
Toews Tactical Income Fund is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Toews Tactical Income Fund has 13.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.9% (85.0% domestic bond, 13.9% foreign bond and 0.0% convertible bond). Toews Tactical Income Fund has 1.1% of the portfolio in cash.
Assets Under Management
The fund has $361 million in total assets, which is below the $667 million average for the Nontraditional 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.
THHYX 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 Toews Tactical Income Fund expense ratio is high compared to funds in the Nontraditional Bond category. Toews Tactical Income Fund has an expense ratio of 1.32%, which is 7% 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. Toews Tactical Income Fund has a portfolio turnover rate of 194%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 306% for the Nontraditional Bond category.
Recently, in the month of August 2026, Toews Tactical Income Fund returned 0.3%, which earned it a grade of D, as the Nontraditional Bond category had an average return of 0.5%. 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.
Toews Tactical Income Fund has a trailing yield of 5.01%, which is above the 4.93% 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.
Toews Tactical Income Fund Grades
Year to date, the fund has returned 0.3%, 1.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 1.0% over the past year (grade of F), 4.8% over the past three years (grade of D) and 1.5% per year over the past five years (grade of D) and 2.5% per year over the past 10 years (grade of D).
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THHYX 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 |
|
| THHYX Return (NAV) | 0.3% | -0.2% | 1.0% | 4.8% | 1.5% | 2.5% |
| THHYX Grade | D | F | F | D | D | D |
| +/- Category | -0.2% | -0.7% | -2.8% | -1.0% | -1.0% | -0.6% |
| Nontraditional Bond Avg | 0.5% | 0.5% | 3.9% | 5.8% | 2.5% | 3.1% |
| THHYX Tax Cost Ratio | na | na | 2.0% | 2.1% | 1.7% | 1.6% |
THHYX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| THHYX Return (NAV) | 0.3% | 4.0% | 5.5% | 4.5% | -5.3% | 0.3% | 5.2% | 7.4% | -0.8% | 3.1% | 10.5% |
| THHYX Grade | F | F | D | F | C | D | C | C | C | D | A |
| +/- Category | -1.5% | -2.8% | 0.0% | -2.0% | 0.7% | -1.0% | -0.2% | 0.8% | 0.0% | -0.9% | 4.0% |
| Nontraditional Bond Avg | 1.8% | 6.8% | 5.4% | 6.5% | -6.0% | 1.3% | 5.4% | 6.5% | -0.8% | 4.1% | 6.4% |
| Risk Measures | |
| Standard Deviation: | 3.8% |
| Total Risk Index: | 0.31 - Low |
| Category Risk Index: | 1.05 - Above Average |
| Category Risk Grade: | D (67% Rank) |
| Beta: | 0.52 |
| R-Squared: | 63% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Growth |
| Bond Investment Style: | Low Quality Limited Sensitivity |
| Yield: | 5.0% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $361 Mil |
| Fund Total Assets: | $ 361 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 194% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 16.3 years | |||
| Average Tenure: 13.4 years | |||
| Managers (Year): Schroeder Randall (2010), Toews Phillip (2010), Graffius Jason (2014), Collins Charles (2017) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 180 |
| % in Top 10 Holdings: | 71.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 13.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 85.0% |
| Foreign Bond: | 13.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.1% |
Purchase Information
| Fund Family: | Toews Funds |
| Phone Number: | 877-558-6397 |
| Website: | ww.ToewsCorp.com |
| Status: | Open |
| Inception Date: | June 4, 2010 |
| Min. Initial Purchase: | $10,000 |
| Min. Initial IRA Purchase: | $10,000 |
| 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 (%): | 1.32% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.42% |
| Share Class: | Toews Tactical Income Fund |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
