Iron Strategic Income  IFUNX
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
High Yield Bond Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Avg Duration
   3.94 Yrs
   Avg Credit Quality
   B
As of 2009-09-30
Day Change
$ 0.00
  
NAV (2009-11-20)
$ 11.47
  
YTD Return % (2009-11-20)
32.53%
  
Total Assets ($ mil)
269
View Data Definitions
  Performance    
Growth of $10,000 Fund: Iron Strategic Income
(from 2006-10-10 to 2009-10-31) Category: High Yield Bond
Index: BarCap US Agg Bond TR USD
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20
Inception date: 2006-10-10 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-20
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 32.53 34.64 9.09 --- --- 9.60
+/- Category -8.42 -0.94 6.48 --- --- ---
+/- BarCap US Agg Bond TR USD 25.62 22.15 2.64 --- --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 31.72 25.86 --- --- --- 9.66
Month-End (as of 2009-10-31) 32.53 32.54 9.49 --- --- 9.60
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 30.97 7.76 --- --- ---
On Distribution & Sale of Shares --- 21.21 7.07 --- --- ---
Morningstar Rating --- --- --- --- ---
# of compared funds covered (3 yrs : out of 471 funds), (5 yrs : out of funds), (10 yrs : out of funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is 1.00%.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus 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 herein.
  Portfolio Profile    
Sector Breakdown %
US Government 0.17
US Treasuries 0.10
TIPS 0.00
US Agency 0.07
Mortgage 0.51
Mortgage Pass-Thru 0.03
Mortgage CMO 0.48
Mortgage ARM 0.00
Credit 72.60
US Corporate 69.77
Asset-Backed 0.91
Convertible 1.88
Municipal 0.04
Corporate Inflation-Protected 0.00
Foreign 11.38
Foreign Corp 10.95
Foreign Govt 0.43
Cash 15.34
Bond Quality % of Bonds
AAA 3.2
AA 0.2
A 2.0
BBB 6.1
BB 28.2
B 35.1
Below B 21.3
Not Rated 3.9
 
Asset Allocation
% of Net Assets
Cash 14.8
Stocks 0.5
Bonds 79.9
Other 4.9
Foreign Stocks 0.1
(as a % of Assets)
Data through 2009-09-30 Data through 2009-09-30
 
Holding Status
Total Number of Stock Holdings Turnover % 223
Total Number of Bond Holdings 0 30 Day SEC Yield % ---
% of Assets in Top 10 Holdings 95.80 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Maturity
Date		 Amount
$000		 Value
$000		 % of Net
Assets
Goldman Sachs High Yield Instl --- 4,508 30,432 16.95
Fidelity High Income --- 3,469 28,270 15.74
PIMCO High Yield Instl --- 3,123 26,482 14.75
JPMorgan High Yield Fund Select --- 3,543 26,396 14.70
Principal High Yield Inst --- 2,253 17,104 9.53
DWS High Income Instl --- 2,576 11,439 6.37
Principal High Yield I Inst --- 891 9,361 5.21
Ivy High Income I --- 1,018 8,280 4.61
AIM High Yield Inst --- 1,880 7,219 4.02
Columbia High Income Z --- 933 7,044 3.92
Data through 2009-09-30
  Other Information
Fund Inception: 2006-10-10
Portfolio Manager  (Start Date)
Aaron Izenstark  (2006-10-10)
Izenstark is a portfolio manager with Iron Financial Management Inc.. He has served as president and chief investment strategist of Iron Financial Management Inc. since he co-founded the firm in 1993.
Daniel Sternberg  (2006-10-10)
Sternberg is a co-portfolio manager with Iron Financial Management Inc.. He joined Iron Financial Management Inc. in 2002 and currently serves as portfolio manager to various other accounts.
Sales Charge %
(taken from prospectus dated 2009-02-06)
Front: None
Deferred: None
Expense Ratio % 1.22
based on net assets
(taken from annual report dated 2008-09-30)
Expense Ratio % 1.57
(taken from prospectus dated 2009-02-06)
Correspondence Information
2960 N. Meridian Street, Suite 300

Indianapolis,  IN  46208
United States
Telephone:
877-322-0575
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.