Cavalier Funds

Adaptive Income


Cavalier Adaptive Income Fund - Monthly Commentary - July 2019:

Cavalier Adaptive Income (CADTX) had slightly positive performance in July, up 0.51%, with the Barclays Aggregate Bond Index benchmark up 0.22% for the month. The Fund continues to hold approximately 50% floating rate assets with less interest rate risk than the index to a rising rate environment. We believe the Fund is benefiting from the strong US housing market, tight labor markets, and a solid US economy supporting the credit quality of the legacy pre-credit crisis underlying mortgages.  

The performance information quoted here represents past performance, which is not a guarantee of future results. 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 may be lower or higher than the performance data quoted. To obtain Fund performance information current to the most recent month-end, please call 1-800-773-3863, or visit



An investment in the Cavalier Adaptive Income Fund is subject to investment risks, including the possible loss of some or the entire principal amount invested. There can be no assurance that the Cavalier Adaptive Income Fund will be successful in meeting its investment objectives. Investment in the Cavalier Adaptive Income Fund is also subject to the following risks: Acquired Fund Risk, Asset-Backed Securities Investment Risk, Closed-End Fund Risk, Control of Portfolio Funds Risk, Convertible Securities Risk, Corporate Debt Securities Risk, Credit Risk, Cybersecurity Risk, Derivatives Risk, Energy Sector Risk, ETFs Risk, Fixed Income Risk, Foreign Securities and Emerging Markets Risk, High-Yield Risk, Inflation Risk, Interest Rate Risk, Investment Advisor Risk, Leverage Risk, Liquidity Risk, Market Risk, MLPs Risk, Mortgage-Back Securities Risk, Portfolio Turnover Risk, Preferred Equity Risk, REIT Risk, TIPs Risk, Short Sales Risk, and U.S. Government Securities Risk. The Cavalier Adaptive Income Fund may invest in foreign securities and emerging markets, and these investments have risks that differ significantly from those associated with domestic securities. The Cavalier Adaptive Income Fund may use leverage, which may exaggerate changes in a portfolio fund’s share price and the return on its investments and accordingly, the value of those Fund’s investments in portfolio funds may be more volatile than all other risks, including the risk of loss of an investment, tend to be compounded or magnified. The Cavalier Adaptive Income Fund and Portfolio Funds may invest in junk bonds, including bonds of issuers in default, and other fixed income securities that are rated below investment grade. More information about these risks can be found in the Cavalier Adaptive Income Fund’s prospectus.

Investors should consider the investment objective, management fees, risks, charges and expenses of the Fund carefully before investing or sending money. The Prospectus contains this and other information about the Fund. For a current Prospectus, call (800) 773-3863. Please read the Prospectus carefully before you invest. Current and future holdings are subject to change and risk. 

The Cavalier Funds are distributed by Capital Investment Group, Inc., Member FINRA/SIPC, 100 E Six Forks Rd, Suite 200, Raleigh, NC, 27609, (800) 773-3863. There is no affiliation between Cavalier Investments, the Sub-Advisor Buckhead Capital Management, including its principals, and Capital Investment Group, Inc.