The Envoy line in the chart above illustrates the performance of a hypothetical $10,000 investment made in the fund and assumes reinvestment of dividends and capital gains. The Envoy line is net of fund fees and expenses but does not reflect the effect of any applicable sales charge or redemption fees. This chart does not imply any future performance.
Past performance does not guarantee future results. Investment return and principal value fluctuate, so shares when redeemed may be worth more or less than their original cost, and current performance may be lower or higher than that shown. Performance data current to the most recent month end is available at embassyfunds.com or by calling 1-877-771-7731. Quarterly, annual and year-to-date figures are cumulative and are not annualized. Source: Bloomberg and Embassy calculations.
Fund returns shown are for the Institutional Class of The Envoy Fund (EVFIX) and are total returns, assuming reinvestment of all dividends and capital gains and net of the Fund’s fees and expenses. Expense ratios are as stated in the Fund’s prospectus dated 09/23/26. The Gross Expense Ratio is 1.30% and the Net Expense Ratio is 0.80%. Embassy has contractually agreed to waive fees and reimburse expenses so that operating expenses do not exceed 0.80% of average daily net assets through February 28, 2027, terminable before then only by the Board of Trustees. All performance shown reflects that waiver, without which returns would have been substantially lower; if it is not renewed, the expenses shareholders bear would increase substantially.
Standardized returns
The Standardized Returns table above shows average annual total returns as of the most recent calendar quarter end and governs. Everything else on this page is supplemental. The growth chart rebases each series to $10,000 at the selected start date, assumes reinvestment, represents no actual investor account and reflects no taxes. A period you select is not standardized, may cover less than one year, is not annualized, and may look materially better or worse than the full period since inception.
Indices
Benchmark: The Benchmark reflects an unmanaged portfolio (rebalanced quarterly) of 60% of the S&P 500 Index, which is a market capitalization-weighted index of 500 large-capitalization stocks commonly used to represent the U.S. equity market, and 40% of the Bloomberg U.S. Aggregate Bond Index, which is a widely recognized, unmanaged index of U.S. dollar-denominated investment-grade fixed income securities.
IG Bonds: Investment Grade Bonds are represented by the Bloomberg US Aggregate Bond Index (the “Agg,” Bloomberg ticker: LBUSTRUU), which is a broad-based fixed-income index used by many market fixed income market participants as a benchmark against which to measure relative performance. The composition of the Agg is designed to represent the full range of investment-grade bonds traded in the U.S. It is composed of more than 10,000 issues. U.S. Treasuries represent nearly 40% of the index. The remaining components represent the debt of major industries including real estate, industrial companies, financial institutions, and utilities.
Equities: Represented by the S&P 500 Total Return Index (Bloomberg ticker: SPTR), which measures the performance of the large-cap segment of the U.S. market. Considered to be a proxy of the U.S. equity market, the index is composed of the stocks of approximately 500 constituent companies, on a market cap-weighted basis. The index assumes the reinvestment of regular cash dividends at the close of business on ex date, without consideration for withholding taxes.
All indices are unmanaged, have no embedded fees, reflect no expenses or taxes, and one cannot invest in an index. Index performance is not illustrative of Fund performance, and the Fund’s holdings, volatility and interest rate sensitivity differ materially from those of the indices shown. The Prior Benchmark, IG Bonds, and Equities indices are broad market indices shown for reference only and are not the Fund’s benchmark.
Statistics
Statistics are calculated by Embassy from the series above and have not been independently verified. Return / Risk is annualized return divided by annualized volatility; it does not deduct a risk-free rate and is not a Sharpe ratio. Volatility uses daily returns scaled by the square root of 252. Best Month, Worst Month and % Positive Months use month-end resampled values. All statistics are since inception [on 12/31/26], a period that has not included a full market cycle. Correlations vary over time and tend to rise in market stress.