WELCOME

DISCIPLINED
VALUE-CONSCIOUS
HISTORICALLY INFORMED
RISK-MANAGED
FOCUSED ON THE COMPLETE MARKET CYCLE

Investing for
Long-term Returns
while Managing Risk.

Since 2000, the goal of the Hussman Funds
has been to serve our shareholders by seeking
long-term returns, adhering to a value-conscious,
historically-informed, risk-managed discipline
focused on the complete market cycle...

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CURRENT UPDATE
Hussman
Market
Comment
Humpty Dumpty Was Pushed
In recent years, our most reliable measures of stock market valuation have pushed beyond their 1929 and 2000 peaks, and I’ve described the period since early 2022 as the extended peak of the third great speculative bubble in U.S. history. In my view, that process is now complete. The stock market faces severe downside risk ahead, and the U.S. is constrained in the unsystematic monetary and fiscal expansion that both amplified that bubble and fueled record but wholly impermanent corporate profit margins. Meanwhile, the U.S. economy now faces an imminent recession, and if we fail to be vigilant, we, once united Americans, risk losing what is far greater and more valuable than money.
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Latest Topic

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An Abrupt and Cascading Dislocation
At its core, a market crash is nothing but risk-aversion meeting a market that's not priced to tolerate risk. We always become concerned about “trap door” outcomes when rich valuations are joined by deterioration in the uniformity of market internals - which is our most reliable gauge of speculation versus risk-aversion among investors. Our concerns about trap door conditions become even more pointed when investor confidence has been destabilized. We are presently on high alert for a possibly abrupt and cascading market and economic dislocation in the weeks ahead.

Overview

Hussman Funds

We pursue a disciplined, value conscious, risk managed and
historically informed investment approach focused on the complete market cycle...

HSGFX
Strategic Market Cycle
Fund
The Fund invests primarily
in U.S. stocks, with the objective
of long-term capital appreciation,
and places added emphasis on
defending capital during
unfavorable market conditions.

HSTRX
Strategic Total Return
Fund
The Fund invests primarily
in U.S. Treasury and government
agency securities, with the
objective of long-term total return,
and has the ability to take a
limited exposure in foreign
government bonds, utiltity stocks,
and precious metals shares.

HSAFX
Strategic Allocation
Fund
The Fund seeks total return
by allocating assets primarily
in stocks and bonds, in
consideration of valuations
and estimated expected return,
with added emphasis on risk-
management to adjust exposure
when market conditions suggest
speculation or risk-aversion.

Recent Posts

FUND NEWS

March 31, 2025: Hussman Strategic Total Return Fund paid an income distribution of $0.1110 per share. Hussman Strategic Allocation Fund paid an income distribution of $0.0510 per share.

November 1, 2024: Pursuant to the recently finalized SEC "names rule" for mutual funds, we have adopted a new fund name - Strategic Market Cycle Fund - for HSGFX. Based on SEC guidance, “the primary types of names that the amended rule is anticipated to cover include fund names with terms such as ‘growth’ or ‘value’ or certain terms that reference a thematic investment focus, including terms indicating that the fund’s investment decisions incorporate one or more ESG factors.” The new name, Strategic Market Cycle, remains consistent with our value-conscious, historically-informed, full-cycle investment discipline, and we believe it will help investors to distinguish the Fund's objective from purely passive, index-tracking funds.

August 29, 2024: The Hussman Funds June 2024 Annual Report is now available online. Reports and Prospectuses for each of the Hussman Funds can be accessed from The Funds menu tab under Prospectus & Reports.

FINRA's BrokerCheck: Check out the background of Ultimus Fund Distributors, LLC, the Distributor of Hussman Funds, on FINRA's BrokerCheck

Hussman Funds

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