Cavalier Funds

Tactical Rotation


Cavalier Tactical Rotation Fund - Monthly Commentary - July 2019:

The Cavalier Tactical Rotation Fund, (CTROX), had one allocation change during the month of July. In the beginning of the month, due to unstable market conditions, the Fund established a cautious position, by shifting to a 50% Equity and 50% Fixed Income allocation. To start the month, the Fund held the sectors; Materials (XLB), Financials (XLF), Industrial (XLI), Utilities (XLU), Consumer Discretionary (XLY), Consumer Staples (XLP), Real Estate (XLRE), Technology (XLK), Communication Services (XLC), all allocated at approximately 5.50% each.  As market conditions improved, CTROX sold its’ Fixed Income holdings and increased its’ Equity sectors to hold approximately a 10% allocation across 10 sectors, “turning on” the Healthcare Select Sector (XLV). The Fund had two main sector detractors which were The Technology Select Sector (XLK), underweight approximately 11.84%, with the sector returning 3.33%, detracting -0.22%, and The Materials Select Sector (XLB), overweight approximately 7.32%, with the sector down -0.37%, detracting -0.13%. The Fund had two main contributors which were The Energy Select Sector (XLE), underweight approximately 4.9%, with the sector down 1.78%, contributing 0.16%, and The Healthcare Select Sector (XLV), underweight approximately 3.75%, returning -1.59%, contributing 0.11%. Overall, the Fund was up 0.60% in July, slightly underperforming the S&P 500 benchmark ending the month up 1.44%.


An investment in the Cavalier Tactical Rotation 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 Tactical Rotation Fund will be successful in meeting its investment objective. Investment in the Cavalier Tactical Rotation Fund is also subject to the following risks: Common Stock Risk, Control of Portfolio Funds Risk, Cybersecurity Risk, ETFs Risk, Foreign Securities and Emerging Markets Risk, Fund of Funds Risk, Investment Advisor Risk, Large-Cap Securities Risk, Market Risk, Other Equity Securities Risk, Portfolio Turnover Risk, Quantitative Model Risk, and Small-Cap and Mid-Cap Securities Risk. The Cavalier Tactical Rotation Fund may invest in foreign securities and emerging markets, and these investments have risks that differ significantly from those associated with domestic securities. More information about these risks can be found in the Cavalier Tactical Rotation Fund’s prospectus.

For more information about Cavalier Tactical Rotation Fund, contact us today. Investors should consider the investment objective, management fees, risks, charges and expenses of the Fund carefully before investing. The Prospectus contains this and other information about the Fund. For a current Prospectus, call (888) 721-4588, visit us at or email us at 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 Investment Advisor to the Funds.