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For July 2019, the fund was down approximately 4.8% net of all fees and expenses. By way of comparison, the S&P 500 was up approximately 1.4% while the Russell 2000 was up approximately 0.6%. Year-to-date 2019 the fund is up approximately 11.8% while the S&P 500 is up approximately 20.2% and the Russell 2000 is up approximately 17.7%. Since inception on June 1, 2011 the fund is up approximately 83.9% net while the S&P 500 is up approximately 162.9% and the Russell 2000 is up approximately 107.9%. Since