Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 05/13/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
0.9%
1 yr return
7.4%
3 Yr Avg Return
-0.4%
5 Yr Avg Return
N/A
Net Assets
$7.53 M
Holdings in Top 10
99.5%
Expense Ratio 3.55%
Front Load N/A
Deferred Load N/A
Turnover 255.00%
Redemption Fee N/A
Standard (Taxable)
N/A
IRA
N/A
Fund Type
Exchange Traded Fund
Name
As of 05/13/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund seeks to achieve its investment objective by investing at least 80% of its net assets plus borrowings for investment purposes in the constituents of the CP High Yield Trend Index, or economic equivalents thereto, including total return swaps on the returns of the Index. Any total return swap in which the Fund invests will match the value as if the Fund had directly purchased the securities in the Index.
The rules-based Index is comprised of constituents that are a blend of allocations to two asset classes: unaffiliated U.S. high yield corporate bond (or “junk bond”) exchange-traded funds (“ETFs”) and unaffiliated U.S. 3-7 year Treasury ETFs. The Index also includes a stop loss mechanism on the U.S. 3-7 year Treasury ETFs that allows the Index to invest in U.S. T-bill ETFs.
The Adviser sponsors and creates the Index and Solactive, A.G. (the “Index Provider”), who has contracted with the Adviser, calculates and publishes the Index. The Index ‘s approximately four constituents are weighted using a model that determines allocations to U.S. high yield corporate bond ETFs and U.S. 3-7 year Treasury ETFs or U.S. T-bill ETFs when the Index is rebalanced, which can occur daily. At any given time, U.S. high yield corporate bond ETFs (of any maturity or duration) make up 20%, 40%, 60%, 80% or 100% of the Index with the remainder in U.S. 3-7 year Treasury ETFs or U.S. T-bill ETFs.
The model has two steps: determining an allocation to U.S. high yield corporate bond ETFs and rounding that allocation to optimize for lower transaction costs. The first step of the model determines a recommended allocation to U.S. high yield corporate bond ETFs by evaluating:(i) ratios of the current market price of a chosen U.S. high yield corporate bond ETF divided by its moving average price (i.e., the average price of the ETF over a recent time period, adjusted for dividends) over different time periods and; (ii) the historical momentum returns of U.S. high yield corporate bond ETFs for the same periods. The model gives 75% weight to the moving average price signals and 25% weight to the historical momentum signals and uses a mathematical formula to determine a recommended allocation to U.S. high yield corporate bond ETFs. The formula yields a number up to one to determine the allocation to U.S. high yield corporate bond ETFs.
The second step of the quantitative model rounds this allocation to the nearest 20% increment (i.e., 20%, 40%, 60%, 80% or 100%), but only adjusts the final allocation to U.S. high yield corporate bond ETFs to move by 20% increments day-over-day (i.e., 20% to 40%, 40% to 60%, but not 20% to 60%). No adjustment is made if the rounded allocation from the second step varies by more than 5% from the recommended allocation of the first step.
The Fund generally replicates the Index, but follows an active management strategy and may decline to follow the Index when, in the Adviser’s judgment, it would be advantageous to do so. For example, the Fund may deviate from the Index if the Adviser believes that shifts in the model’s recommended allocations are only temporary, or if the Adviser determines that specific securities are mispriced and identifies U.S. high yield corporate bond ETFs or U.S 3-7 year Treasury ETFs that the Adviser perceives to have the potential to provide better returns than the Index’s constituents.
Period | HYTR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.9% | -6.4% | 6.4% | 85.28% |
1 Yr | 7.4% | -5.5% | 16.9% | 90.82% |
3 Yr | -0.4%* | -16.3% | 20.2% | 90.76% |
5 Yr | N/A* | -11.8% | 37.1% | 9.03% |
10 Yr | N/A* | -5.0% | 19.4% | 9.09% |
* Annualized
Period | HYTR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.5% | -4.7% | 14.3% | 94.30% |
2022 | -12.4% | -33.4% | 3.6% | 15.18% |
2021 | -1.0% | -8.4% | 8.2% | 80.53% |
2020 | N/A | -13.2% | 302.7% | N/A |
2019 | N/A | -4.4% | 13.3% | N/A |
Period | HYTR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.9% | -6.4% | 6.4% | 85.28% |
1 Yr | 7.4% | -5.5% | 16.9% | 90.82% |
3 Yr | -0.4%* | -16.3% | 20.2% | 90.76% |
5 Yr | N/A* | -11.8% | 37.1% | N/A |
10 Yr | N/A* | -5.0% | 19.4% | N/A |
* Annualized
Period | HYTR Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 8.3% | -4.7% | 17.8% | 92.72% |
2022 | -11.3% | -33.4% | 47.8% | 64.38% |
2021 | 2.7% | -8.4% | 12.4% | 90.52% |
2020 | N/A | -9.6% | 325.6% | N/A |
2019 | N/A | 0.9% | 19.4% | N/A |
HYTR | Category Low | Category High | HYTR % Rank | |
---|---|---|---|---|
Net Assets | 7.53 M | 1.45 M | 23.6 B | 99.53% |
Number of Holdings | 3 | 2 | 2736 | 99.84% |
Net Assets in Top 10 | 5.85 M | -492 M | 4.55 B | 94.28% |
Weighting of Top 10 | 99.54% | 4.2% | 146.9% | 0.64% |
Weighting | Return Low | Return High | HYTR % Rank | |
---|---|---|---|---|
Stocks | 99.54% | 0.00% | 99.54% | 0.16% |
Cash | 0.46% | -52.00% | 48.07% | 90.30% |
Preferred Stocks | 0.00% | 0.00% | 7.88% | 62.96% |
Other | 0.00% | -63.70% | 102.57% | 57.23% |
Convertible Bonds | 0.00% | 0.00% | 17.89% | 95.55% |
Bonds | 0.00% | -3.13% | 154.38% | 98.58% |
Weighting | Return Low | Return High | HYTR % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 100.00% | 48.57% |
Technology | 0.00% | 0.00% | 33.17% | 40.88% |
Real Estate | 0.00% | 0.00% | 86.71% | 46.37% |
Industrials | 0.00% | 0.00% | 93.12% | 56.70% |
Healthcare | 0.00% | 0.00% | 22.17% | 43.30% |
Financial Services | 0.00% | 0.00% | 100.00% | 59.78% |
Energy | 0.00% | 0.00% | 100.00% | 0.22% |
Communication Services | 0.00% | 0.00% | 99.99% | 57.80% |
Consumer Defense | 0.00% | 0.00% | 100.00% | 44.62% |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | 51.65% |
Basic Materials | 0.00% | 0.00% | 100.00% | 42.20% |
Weighting | Return Low | Return High | HYTR % Rank | |
---|---|---|---|---|
US | 99.54% | 0.00% | 99.54% | 0.16% |
Non US | 0.00% | -0.01% | 0.83% | 51.19% |
HYTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 3.55% | 0.02% | 38.33% | 1.75% |
Management Fee | 0.50% | 0.00% | 1.84% | 33.12% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 6.07% |
Administrative Fee | N/A | 0.00% | 0.50% | N/A |
HYTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
HYTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
HYTR Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 255.00% | 1.00% | 255.00% | 100.00% |
HYTR | Category Low | Category High | HYTR % Rank | |
---|---|---|---|---|
Dividend Yield | 5.31% | 0.00% | 11.65% | 74.41% |
HYTR | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
HYTR | Category Low | Category High | HYTR % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.28% | -2.39% | 14.30% | 89.64% |
HYTR | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Apr 18, 2024 | $0.095 | OrdinaryDividend |
Mar 14, 2024 | $0.105 | OrdinaryDividend |
Dec 14, 2023 | $0.205 | OrdinaryDividend |
Nov 16, 2023 | $0.053 | OrdinaryDividend |
Oct 19, 2023 | $0.105 | OrdinaryDividend |
Sep 14, 2023 | $0.101 | OrdinaryDividend |
Aug 17, 2023 | $0.099 | OrdinaryDividend |
Jul 13, 2023 | $0.103 | OrdinaryDividend |
Jun 15, 2023 | $0.088 | OrdinaryDividend |
May 18, 2023 | $0.095 | OrdinaryDividend |
Apr 13, 2023 | $0.097 | OrdinaryDividend |
Mar 16, 2023 | $0.112 | OrdinaryDividend |
Feb 16, 2023 | $0.104 | OrdinaryDividend |
Dec 15, 2022 | $0.143 | OrdinaryDividend |
Nov 17, 2022 | $0.033 | OrdinaryDividend |
Oct 18, 2022 | $0.018 | OrdinaryDividend |
Sep 15, 2022 | $0.018 | OrdinaryDividend |
Aug 18, 2022 | $0.014 | OrdinaryDividend |
Jul 12, 2022 | $0.019 | OrdinaryDividend |
May 17, 2022 | $0.015 | OrdinaryDividend |
Dec 15, 2021 | $0.152 | OrdinaryDividend |
Nov 15, 2021 | $0.065 | OrdinaryDividend |
Oct 15, 2021 | $0.071 | OrdinaryDividend |
Sep 15, 2021 | $0.067 | OrdinaryDividend |
Aug 13, 2021 | $0.100 | OrdinaryDividend |
Jul 15, 2021 | $0.074 | OrdinaryDividend |
Jun 15, 2021 | $0.067 | OrdinaryDividend |
May 14, 2021 | $0.071 | OrdinaryDividend |
Apr 15, 2021 | $0.070 | OrdinaryDividend |
Mar 15, 2021 | $0.075 | OrdinaryDividend |
Feb 12, 2021 | $0.072 | OrdinaryDividend |
Dec 15, 2020 | $0.170 | OrdinaryDividend |
Nov 13, 2020 | $0.100 | OrdinaryDividend |
Oct 15, 2020 | $0.071 | OrdinaryDividend |
Sep 15, 2020 | $0.083 | OrdinaryDividend |
Aug 14, 2020 | $0.072 | OrdinaryDividend |
Jul 15, 2020 | $0.025 | OrdinaryDividend |
Jun 15, 2020 | $0.010 | OrdinaryDividend |
May 15, 2020 | $0.011 | OrdinaryDividend |
Apr 15, 2020 | $0.014 | OrdinaryDividend |
Mar 13, 2020 | $0.084 | OrdinaryDividend |
Feb 14, 2020 | $0.096 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Jan 22, 2020
2.36
2.4%
Joseph Engelberg has served as Chief Research Officer of Counterpoint Mutual Funds, LLC since 2015. Dr. Engelberg has also been an Associate Professor of Finance at University California San Diego, Rady School of Management since 2011. Prior to joining Counterpoint Mutual Funds, LLC, Dr. Engelberg co-founded Counterpoint Asset Management, LLC in 2012. From 2008 to 2011, Dr. Engelberg was an Assistant Professor of Finance at the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill. He earned his Ph.D. in Finance from the Kellogg School of Management at Northwestern University and earned his B.A. in Mathematics and B.S. in Business Administration from the University of Southern California.
Start Date
Tenure
Tenure Rank
Jan 22, 2020
2.36
2.4%
Michael Krause is a co-founder of Counterpoint Mutual Funds, LLC. Prior to founding Counterpoint Mutual Funds, LLC in 2014, Mr. Krause co-founded Counterpoint Asset Management, LLC in 2012 to offer quantitative investment strategies to investment clients. Mr. Krause served as a senior financial risk analyst for San Diego Gas & Electric from 2012 until 2014. Mr. Krause is a CFA® charter holder. He obtained an MBA from the Rady School of Management at the University of California at San Diego in 2012 and a Bachelor of Arts in Economics from San Diego State University. Prior to attending San Diego State University, Mr. Krause worked as a computer and information technology consultant and co-founded Exchange Network Services, Inc., an internet service provider, which earned him the Ernst and Young Entrepreneur of the Year, Northeast Ohio regional award in 1998.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.13 | 37.79 | 7.21 | 8.17 |
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