Equity-Focused Funds
Bond-Focused Fund
HSGFX
Strategic Growth
Fund
HSIEX
Strategic
International Fund
HSVLX
Strategic
Value Fund
HSTRX
Strategic Total
Return Fund
Objective
Seeks to achieve long-term capital appreciation, with added emphasis on the protection of capital during unfavorable market conditions.
Seeks to achieve long-term capital appreciation, with added emphasis on the protection of capital during unfavorable market conditions.
Seeks total return through a combination of dividend income and capital appreciation, with added emphasis on protection of capital during unfavorable market conditions.
Seeks to achieve long-term total return from income and capital appreciation.
Strategy
  • The Fund invests principally in domestic common stocks that are viewed by the Advisor to reflect a combination of favorable market action and/or valuation.
  • When market conditions are viewed as favorable, the Fund may use index call options to leverage its exposure to general market fluctuations.
  • When market conditions are viewed as unfavorable, the Fund may use hedging strategies to reduce its exposure to general market fluctuations.
  • The Fund invests principally in equity securities of non-U.S. issuers that are viewed by the Advisor to reflect a combination of favorable market action and/or valuation.
  • When market conditions are viewed as unfavorable, the Fund may use hedging strategies to reduce its exposure to general market fluctuations.
  • The Fund invests principally in common stocks that are viewed by the Advisor to reflect favorable valuations and/or measures of financial stability.
  • When market conditions are viewed as unfavorable, the Fund may use hedging strategies to reduce its exposure to general market fluctuations.
The Fund’s principal investment strategies emphasize strategic management of the average interest rate sensitivity (duration) of portfolio holdings, the exposure to shifts in the yield curve, and allocation among fixed income alternatives and inflation hedges.
Primary Investment Universe
Equities trading on major U.S. exchanges
Non-U.S. equities issued by companies in developed countries, and country specific exchange traded funds
Equities trading on major U.S. exchanges. Dividend paying stocks will generally represent at least 50% of the value of the Fund's portfolio
  • U.S. Investment Grade Fixed Income
  • Fixed Income Alternatives
    • Precious metals shares
    • Utility and energy shares
    • Convertible bonds
    • International fixed income and currencies
    • Real estate investment trusts
Market
Exposure
Fully-hedged (typically using long put/short call index option combinations, which may include the use of differing exercise prices), with the ability to use index call options to leverage the amount of stock controlled by the Fund to as much as 150% of the value of the Fund’s net assets1
Fully hedged to 100% invested
Fully hedged to 100% invested
  • 70% to 100% U.S. Investment Grade Fixed Income
  • 0% to 30% Fixed Income Alternatives
Long-term Benchmark
S&P 500 Index2
MSCI EAFE Index2
S&P 500 Index2
Barclays U.S. Aggregate Bond Index2
Risk & Considerations
  • Performance may significantly deviate from the general market and the S&P 500 Index.
  • The Fund may experience limited, zero, or possibly negative correlation with general market fluctuations for meaningful periods of time.
  • When market conditions are viewed as favorable, use of leverage using call options may be amplify exposure to general market fluctuations for meaningful periods of time
  • Performance may significantly deviate from the general market and the MSCI EAFE Index.
  • The Fund may have little or no correlation with general market fluctuations for meaningful periods of time.
  • Performance may significantly deviate from the general market and the S&P 500 Index.
  • The Fund may have little or no correlation with general market fluctuations for meaningful periods of time.
Performance may significantly deviate from the performance of the Barclays U.S. Aggregate Bond Index. Bond market alternatives such as precious metals shares may result in increased volatility.
Prospectus
Expense Ratio
1.37% Gross
1.31% Net3
2.27% Gross
2.01% Net4
5.80% Gross
1.38% Net5
0.86% Gross
0.84% Net6
View The Fund & Prospectus

1When the Advisor's estimate of the expected market return/risk profile is strongly unfavorable, the Fund (HSGFX) has the ability to fully hedge its portfolio, potentially raising the strike prices of its index put options to a higher strike than those of short call options that may be used to hedge the portfolio. The Fund may experience a loss even when the entire value of its stock portfolio is hedged if the returns of the stocks held by the Fund do not exceed the returns of the securities and financial instruments used to hedge, or if the exercise prices of the Fund's call and put options differ, so that the combined loss on these options during a market advance exceeds the gain on the underlying stock index. When the estimated market return/risk profile is strongly favorable, the Fund has the ability to leverage the amount of stock it controls to as much as 150% of the value of the Fund’s net assets, typically by investing a limited percentage of assets in long call options.
2 The Hussman Funds make no effort to closely track or replicate the investment positions of the benchmarks, particularly over limited segments of a complete market cycle. The benchmarks serve as long-term performance gauges.

S&P 500 Index is a commonly recognized, capitalization-weighted index of 500 widely-held equity securities, designed to measure broad U.S. equity performance. You cannot invest directly in an index.

MSCI EAFE (Europe, Australasia, Far East) Index is a free-float-adjusted market capitalization-weighted index designed to measure developed market equity performance. The MSCI EAFE Index is composed of companies representative of the market structure of Developed Market countries. The index includes reinvestment of dividends, net of foreign withholding taxes. You cannot invest directly in an index.

Barclay's U.S. Aggregate Bond Index is made up of the Barclay's U.S. Government/Corporate Bond Index, Mortgage-Backed Securities Index, and Asset-Backed Securities Index, including securities that are of investment grade quality or better, have at least one year to maturity, and have an outstanding par value of at least $100 million. You cannot invest directly in an index.

3 The Advisor has contractually agreed to defer its investment advisory fees and/or absorb or reimburse Fund expenses until at least November 1, 2018 to the extent necessary to limit the Fund's annual ordinary operating expenses to an amount not exceeding 1.13% annually of the Fund's average daily net assets. The gross annual expense ratio as disclosed in the November 1, 2017 Prospectus is 1.37% and represents operating fees and expenses (including acquired fund fees and expenses) incurred by the Fund during the most recent fiscal year.
4 The Advisor has contractually agreed to defer its investment advisory fee and/or absorb or reimburse Fund expenses until at least November 1, 2018 to the extent necessary to limit the Fund's annual ordinary operating expenses to an amount not exceeding 2.00% annually of the Fund's average daily net assets. The gross expense ratio as disclosed in the November 1, 2017 prospectus is 2.27% and represents operating fees and expenses (including acquired fees fund fees and expenses) incurred by the Fund during the most recent fiscal year.
5 The Advisor has contractually agreed to defer its investment advisory fee and/or absorb or reimburse Fund expenses until at least November 1, 2018 to the extent necessary to limit the Fund's annual ordinary operating expenses to an amount not exceeding 1.25% annually of the Fund's average daily net assets. The gross expense ratio as disclosed in the November 1, 2017 prospectus is 5.80% and represents operating fees and expenses (including acquired fees fund fees and expenses) incurred by the Fund during the most recent fiscal year.
6 The Advisor has contractually agreed to defer its investment advisory fees and/or absorb or reimburse Fund expenses until at least November 1, 2018 to the extent necessary to limit the Fund's annual ordinary operating expenses to an amount not exceeding 0.72% annually of the Fund's average daily net assets. The gross annual expense ratio as disclosed in the November 1, 2017 prospectus is 0.86% and represents operating fees and expenses (including acquired fund fees and expenses) incurred by the Fund during the most recent fiscal year.