Morningstar© - 4 Stars

Steben Managed Futures Strategy Fund Earns a 4-Star Morningstar Rating™

The Fund has achieved an Overall and Three-Year period 4-Star Morningstar Rating™ for its Class I Shares among 95 funds in the Managed Futures category based on risk-adjusted returns as of April 30, 2017.

Steben Managed Futures Strategy Fund

Reasons to Invest


  • Portfolio Diversification – Gain the potential non-correlated and diversification benefits of a managed futures portfolio through a single investment.
  • Access & Global Exposure – Access Steben’s 25+ years experience in managed futures trading advisor selection, allocation and monitoring. Gain global exposure to established trading advisors with a history of trading through multiple market cycles.
  • Cost Efficiency – Structured as a mutual fund that does not charge any performance fees.

Steben Managed Futures Funds

Investor Notification: 2017 Preliminary Year-End Distributions ›


Trading Advisors as of January 29, 2018

Trading Advisors Program Strategy
Crabel Capital Management, LLC Advanced Trend Non-Trend
Revolution Capital Management LLC Alpha Non-Trend
PGR Capital LLP PGR Trend Trend
Millburn Ridgefield Corporation Core Markets Trend
Welton Investment Partners, LLC Welton Trend Trend

Fund Facts

  Ticker CUSIP Mgt. Fee Total Annual
Class A SKLAX 858029101 1.75% 2.24%
Class C SKLCX 858029200 1.75% 2.99%
Class I SKLIX 858029309 1.75% 1.99%
Class N SKLNX 858029408 1.75% 2.24%

Fund Terms Fund Highlights

Minimum/Subsequent Investment:

Class A, C, N: $2,500/$100

Class I: $1,000,000/$25,000

Inception: April 1, 2014

Fund Type: Mutual Fund

Liquidity: Daily

Investment Manager: Steben & Company, Inc.

Foreside Fund Services, LLC, Distributor

* ©2017 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10- year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past performance is no guarantee of future results.