The Intrepid Income Fund (ICMUX) was recently added to Morningstar Prospects, a list of strategies monitored by Morningstar Manager Research analysts as potential candidates for full coverage.
In a recent article highlighting strategies on their radar, Morningstar’s manager research team featured the Intrepid Income Fund alongside other “overlooked or emerging” funds across various asset classes. The Fund continues to execute a strategy centered on short-duration credit, capital preservation, and valuation-driven security selection.
What is Morningstar Prospects?
Published twice a year, Morningstar Prospects is a list compiled by Morningstar to track “up-and-coming” investment strategies. Inclusion on the list indicates that Morningstar analysts are actively monitoring the Fund's investment process, performance, and management team as part of their ongoing research.
Strategies on the list are evaluated for potential transition to full qualitative coverage, where a dedicated Morningstar analyst conducts ongoing reviews and issues a forward-looking Morningstar Medalist Rating™.
To read the full piece and view the complete list of featured strategies, visit Morningstar's article: 6 Overlooked Funds on Morningstar's Radar.
The Fund’s investment objectives, risks charges and expenses must be considered carefully before investing. The statutory and summary prospectuses contains this and other important information about the investment company, and it may be obtained by calling 866-996-FUND. Read it carefully before investing.
Performance data quoted represents past performance and does not guarantee future results. Investment returns and principal value will fluctuate, and when sold, may be worth more or less than their original cost. Performance current to the most recent month-end may be lower or higher than the performance quoted and can be obtained by clicking here or by calling 866-996-FUND.
Investments in debt securities typically decrease in value when interest rates rise. The risk is generally greater for longer term debt securities. Investments by the Fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher rated securities. The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. Diversification does not guarantee a profit or protect from loss in a declining market.
The Intrepid Capital Funds are distributed by Quasar Distributors, LLC.
Morningstar classifies funds into categories based on similar investment objective and strategy. Morningstar percentile rankings are based on a fund's total return compared to its Morningstar Category of exchange-traded and open-end mutual funds. The highest percentile rank is 1 and the lowest percentile rank is 100. For the trailing one-year, three-year, five-year and ten-year time periods through 6/30/2026, the Morningstar rankings were 11th percentile among 368 Multisector Bond funds, 2nd percentile among 347 Multisector Bond funds, 1st percentile among 311 Multisector Bond funds and 3rd percentile among 228 Multisector Bond funds, respectively. The fund’s rankings may have been lower were it not for fee waivers in effect during the ranking periods. Rankings are relative to a peer group and do not necessarily mean the fund had high or positive total returns. Morningstar updates its fund rankings daily. Past performance does not guarantee future results.