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Stadion Tactical Defensive Fund Commentary April 2017

The Stadion Tactical Defensive Fund entered the month of April with the shorter-term trend risk measures near their signal lines indicating a positive but weak short term trend. As market volatility increased during the month with geopolitical risks escalating, the shorter-term risk measures deteriorated resulting in an increase in cash holdings. As the month progressed, corporate earnings made a surprise move to the upside, tax reform looked more likely, and the French elections calmed investors’ nerves. These events were enough to swing the momentum back to a risk-on environment and confirm a positive uptrend.

Both the core and satellite portions of the Stadion Tactical Defensive Fund finished the month of April fully invested, holding broad U.S. market ETFs with a tilt to small cap and growth. The Fund also holds a currency hedged international ETF. For the month, the Fund returned 0.64% versus the S&P 500 returning 1.03%. The underperformance can be attributed to the cash holdings as risk levels altered throughout the month.

To view the most recent performance for the Stadion Tactical Defensive Fund, click here.


Performance data quoted represent past performance. Past performance is no guarantee of future results. Investments are subject to risk, and any of Stadion’s investment strategies may lose money. Stadion’s actively managed portfolios may underperform in bull markets. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance data may be lower or higher than the performance data quoted. To review our most recent monthly performance, please visit www.stadionfunds.com.

An investor should consider the investment objectives, risks, and charges and expenses of the Stadion Funds carefully before investing. The prospectus contains this and other information about the Funds. A copy of the prospectus is available by calling Stadion Funds directly at (866) 383-7636 or Stadion Money Management, LLC, the investment advisor, at (800) 222-7636. The prospectus should be read carefully before investing.

The index shown is defined as follows.

The S&P 500 Index is the Standard & Poor’s Composite Index of 500 stocks and is a widely recognized, unmanaged index of common stock prices. All Benchmarks composite data supplied by third party vendors, assumes re-investment of all dividends

One cannot invest directly in an index. All Benchmarks composite data supplied by third party vendors, assumes re-investment of all dividends.

Yield is the annual return on an investment, expressed as a percentage of the price. For stocks, yield is the annual dividend divided by the purchase price, also known as a dividend yield. For bonds, it is the coupon rate divided by the market price, called current yield. 

Diversification does not eliminate the risk of experiencing investment losses.

*Performance numbers as of April 30, 2017

Risks

There are additional costs and potential risks associated with investing in domestic and international Exchange-Traded Funds (“ETF’s”). Investment in the Fund is subject to investment risks, including, without limitation, market risk, management style risk, risks related to “fund of funds” structure, sector risk, fixed income risk, tracking risk, risks related to ETF net asset value and market price, foreign securities risk, risks related to portfolio turnover and small capitalization companies risk. Since each Stadion Fund is a “fund of funds,” an investor will indirectly bear fees and expenses charged by the underlying ETFs and investment companies in which a Stadion Fund invests in addition to a Stadion Fund’s direct fees and expenses. More information about these risks and other risks can be found in the Fund’s prospectus.

There are risks associated with the potential investment of the Tactical Defensive Fund’s assets in fixed income investments, which include credit risk, interest rate risk, and maturity risk. Investment objective: Seek capital appreciation.

The Fund’s foreign investments generally carry more risks than funds that invest strictly in U.S. assets, including currency risk, geographic risk, and emerging market risk. Risks can also result from varying stages of economic and political development; differing regulatory environments trading days, and accounting standards; and higher transaction costs of non-U.S. markets.

The Stadion Funds are distributed by ALPS Distributors, Inc.                                                                                         

An investor should consider the investment objectives, risks, and charges and expenses of the Stadion Funds carefully before investing. The prospectus contains this and other information about the Funds. A copy of the prospectus is available by calling Stadion Funds directly at (866) 383-7636 or Stadion Money Management, LLC., the investment advisor, at (800) 222-7636. The prospectus should be read carefully before investing.

The Stadion Funds are distributed by ALPS Distributors, Inc. An investment in the Funds involves risk, including loss of principal.