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Palmer Square Opportunistic Income Fund PSOIX |
 Prospectus |  Mutual FundReport Card |
Fund Performance
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Fund Strategy
The investment seeks a high level of current income; long-term capital appreciation is the secondary objective. Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in debt securities and/or income-producing securities (the “80% Policy”). It may invest in debt securities of any maturity and credit quality, including securities rated below investment grade and unrated securities. The fund is non-diversified.
Risks of Interval Funds
Interval funds are not available for purchase by individual investors.
Interval funds are closed-end funds that offer daily purchases and redeem shares by periodically offering to repurchase a certain portion of shares from shareholders ("tenders" or "redemptions"). Rules and regulations related to interval funds enable fund companies to create portfolios with less capital volatility while holding a greater percentage of less-liquid, longer-term investments, often with higher risk-return opportunities than may be readily achieved in open-end mutual funds or exchange-traded funds (ETFs).
Although interval fund purchases resemble open-end mutual funds in that their shares are typically continuously offered and priced daily, they differ from traditional closed-end funds in that their shares are not sold on a secondary market. Instead, periodic repurchase offers are made to shareholders by the fund. The fund will specify a date by which shareholders must accept the repurchase offer. The actual repurchase will occur at a later, specified date. If repurchase requests exceed the number of shares that a fund offers to repurchase during the repurchase period, repurchases are prorated (reduced by the same percentage across all trades) prior to processing. In such event, shareholders may not be able to sell their expected amount, and would potentially experience increased illiquidity and market exposure, which could increase the potential for investment loss. To find out more about trading Interval Funds, please read Interval Funds: What you need to know.
| Details | |
|---|---|
| 52 Week Range | $17.53 - $18.31 |
| YTD Return YTD Return is adjusted for possible sales charges, and assumes reinvestment of dividends and capital gains. | -- as of 05/02/2025 | |
|---|---|---|
| Gross Expense Ratio | 2.35% |
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| Net Expense Ratio | 2.35% |
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| Tax-Equivalent Yield | -- |
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| 30-Day SEC Yield | -- |
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| Most Recent Distribution | $0.2747 |
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| Availability | Registered Investment Advisors Only |
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| Manager Tenure | 2014 |
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| Minimum Investment | ||
|---|---|---|
| Initial | Subsequent | |
| Basic | $1,000,000 | $1 |
| IRA | $1,000,000 | $1 |
| Custodial | $1,000,000 | $1 |
| Inception Date | 08/29/2014 | Total Assets | $465.2M |
|---|---|---|---|
| Total Holdings | 324 | Portfolio Turnover | 59% |
| Fund Company | Palmer Square | ESG FundESG FundEnvironmental, Social, and Governance (ESG) is the industry term Schwab has chosen to use as an umbrella term to describe various investing approaches that consider not only traditional measures of risk and return, but environmental, social, and corporate governance (ESG) factors as well. Schwab uses ESG to broadly encompass ESG investing , but also investing approaches described as "values-based investing," "impact investing," "sustainable investing," and other approaches. An ESG product may apply ESG factors to its investment or governance processes in many different ways. A product that employs ESG strategies may choose to focus on one or more ESG factors, though an ESG product may also include securities that don't fit any ESG category. The information displayed utilizes the Morningstar "Sustainable Investment - Overall" datapoint. Click here to learn more about ESG at Schwab. 0824-U08J | No |
Leveraged FundLeveraged FundLeveraged Mutual Funds typically use derivatives to attempt to multiply the returns of the underlying index each day or month. These funds invest their portfolios much differently than other mutual funds. They have the propensity to be more volatile and are inherently riskier than their non-leveraged counterparts. It is important to remember that these funds are generally designed for short-term use only, and are generally not intended to be buy-and-hold positions, because their returns over longer periods generally do not match the mutual fund’s multiple of the underlying index over those periods. These funds are not appropriate for most investors. 0824-U08J | No | Index Fund | No |
Inverse FundInverse FundInverse mutual funds typically use derivatives to attempt to move in the opposite direction of the underlying index by a certain multiple each day or month. They generally have either a negative number like –1x or –2x or a term like “short” or “inverse” in their names. These funds invest their portfolios much differently than other mutual funds. They have the propensity to be more volatile and are inherently riskier than their non-inverse counterparts. It is important to remember that these funds are designed for short-term use only, and are not intended to be buy-and-hold positions, because their returns over longer periods generally do not match the mutual fund’s negative multiple of the underlying index over longer periods. These funds are not appropriate for most investors. 0824-U08J | No | ||
Interval FundRisks of Interval FundsInterval funds are not available for purchase by individual investors. Interval funds are closed-end funds that offer daily purchases and redeem shares by periodically offering to repurchase a certain portion of shares from shareholders ("tenders" or "redemptions"). Rules and regulations related to interval funds enable fund companies to create portfolios with less capital volatility while holding a greater percentage of less-liquid, longer-term investments, often with higher risk-return opportunities than may be readily achieved in open-end mutual funds or exchange-traded funds (ETFs). Although interval fund purchases resemble open-end mutual funds in that their shares are typically continuously offered and priced daily, they differ from traditional closed-end funds in that their shares are not sold on a secondary market. Instead, periodic repurchase offers are made to shareholders by the fund. The fund will specify a date by which shareholders must accept the repurchase offer. The actual repurchase will occur at a later, specified date. If repurchase requests exceed the number of shares that a fund offers to repurchase during the repurchase period, repurchases are prorated (reduced by the same percentage across all trades) prior to processing. In such event, shareholders may not be able to sell their expected amount, and would potentially experience increased illiquidity and market exposure, which could increase the potential for investment loss. To find out more about trading Interval Funds, please read Interval Funds: What you need to know. 0824-U08J | Yes | ||
Morningstar Category: Nontraditional Bond Inclusion in nontraditional bond is informed by a balance of factors determined by Morningstar analysts. Those typically include a mix of: absolute return mandates; goals of producing returns not correlated with the overall bond market; performance benchmarks based on ultrashort-term interest rates such as T-bills; the ability to take long and short market and security-level positions using a broad range of derivatives; and few or very limited portfolio constraints on exposure to credit, sectors, currency, or interest-rate sensitivity. Funds in this group typically have the flexibility to manage duration exposure over a wide range of years and to take it to zero or a negative value. | |||
Sector | % of Assets |
|---|---|
| Asset-Backed | 78.48% |
| Cash & Equivalents | 9.19% |
| Corporate Bond | 9.10% |
| Bank Loan | 1.97% |
| Commercial Mortgage-Backed | 0.77% |
| Non-Agency Residential Mortgage-Backed | 0.24% |
| Convertible | 0.23% |
| Government | 0.01% |
Ratings are not available for PSOIX.
- Investors in ETFs should consider carefully information contained in the prospectus, including investment objectives, risks, charges and expenses. You can view, download, and print a prospectus by selecting the "View Prospectus" link at the top of the page. If there are remaining questions, please call 1-800-435-4000. Please read the prospectus carefully before investing.
- Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV).
- Market Price is the price at which investors buy and sell ETF shares in the stock market. ETF Market Price determines investor returns. An ETF’s Market Price may be higher or lower than the NAV at any given point in time. Market price returns are based upon the Official Closing Price of the primary listing exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times.
- NAV (Net Asset Value) is a per share valuation of the securities in an ETF officially calculated once per day. NAV price performance is primarily used to evaluate the fund and its managers and may not reflect the actual return for the investor.
- ETFs at Charles Schwab & Co., Inc. ("Schwab") which are U.S. exchange-listed can be traded without a commission on buy and sell transactions made online in a Schwab account. Unlisted ETFs are subject to a commission. Trade orders placed through a broker will receive the negotiated broker-assisted rate. An exchange process fee applies to sell transactions. All ETFs are subject to management fees and expenses. Please see the Charles Schwab Pricing Guide for additional information. Schwab's affiliate Charles Schwab Investment Management, Inc., dba Schwab Asset Management, serves as the investment adviser to the Schwab ETFs, which compensates Schwab Asset Management out of the applicable operating expense ratios. The amount of the fees is disclosed in the prospectus of each ETF.
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- Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a 3-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar risk-adjusted return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. (Each share class is counted as a fraction of 1 fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star.