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Critical Facts You Need to Know About Preferred Stocks
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Rating
Sector Rating
Recommendation *
Avoid
Neutral
Fair
Quality
Rating Breakdown
Avg.
Relative Strength
The relative strength of a dividend stock indicates whether the stock is uptrending or not. The major determining factor in this rating is whether the stock is trading close to its 52-week-high.
Overall Yield Attractiveness
If a stock’s yield is above or near the market average then it will be rated higher within this parameter. High dividend yields (usually over 10%) should be considered extremely risky, while low dividend yields (1% or less) are simply not very beneficial to long-term investors.
Dividend Reliability
A stock’s dividend reliability is determined by a healthy payout ratio that is higher than other stocks. A company that pays out close to half its earnings as dividends and retains the other half of earnings has ample room to grow its business and pay out more dividends in the future.
Dividend Uptrend
A stock’s Dividend Uptrend rating is dependent on the company’s price-to-earnings (P/E) ratio to evaluate whether or not a stock’s dividend is likely to trend upward. If a stock is valued near, or slightly below the market average, research has shown that the market expects the stock’s dividend to increase.
Earnings Growth
A stock’s Earnings Growth rating evaluates a company’s expected EPS for the current financial year and compares it to next financial year’s expected EPS. Stocks with single-digit growth estimates will have a higher rating than others, as our research has shown that well-established dividend-paying companies have modest earnings growth estimates.
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CornerCap Fundametrics® Large-Cap ETF FUNL
Active ETF
FUNL
Payout Change
Pending
Price as of:
$31.7
+0.15
+0.48%
primary theme
U.S. Large-Cap Value Equity
FUNL (ETF)
CornerCap Fundametrics® Large-Cap ETF FUNL
Payout Change
Pending
Price as of:
$31.7
+0.15
+0.48%
primary theme
U.S. Large-Cap Value Equity
FUNL (ETF)
CornerCap Fundametrics® Large-Cap ETF FUNL
Payout Change
Pending
Price as of:
$31.7
+0.15
+0.48%
primary theme
U.S. Large-Cap Value Equity
Name
Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-2.9%
1 yr return
-9.2%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$134 M
Holdings in Top 10
14.3%
52 WEEK LOW AND HIGH
$31.5
$29.32
$35.96
Expenses
OPERATING FEES
Expense Ratio 0.50%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 26.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FUNL - Profile
Distributions
- YTD Total Return -2.9%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.68%
- Dividend Yield 1.9%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NameCornerCap Fundametrics® Large-Cap ETF FUNL
-
Fund Family NameCornerCap
-
Inception DateAug 19, 2020
-
Shares Outstanding3900000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerJ. Cannon Carr
Fund Description
The Fund is an actively managed exchange-traded fund (“ETF”) that invests primarily in equity securities listed on a U.S. exchange based on the results of a proprietary, quantitative research system called “Fundametrics®” developed by CornerCap Investment Counsel, Inc. (the “Adviser”). Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in the securities of large-capitalization companies. The Adviser defines large-capitalization companies to be those companies with market capitalizations within the range of the Russell 1000® Index at the time of purchase. The market capitalization range of the Russell 1000® Index was $2.9 billion to $2.5 trillion as of May 6, 2022, and is expected to change frequently.
The Adviser uses Fundametrics® to select stocks for the Fund. Fundametrics® evaluates all stocks in the Fund’s investible universe and groups companies with similar characteristics into custom peer groups. Each peer group is evaluated with respect to over 120 fundamental factors across all major styles (value, growth, growth at a reasonable price, price momentum, quality, risk) to find the optimized risk adjusted mix. Overall, valuation maintains the highest weight and greatest importance, but each peer group can have an independent style representation.
Buy and sell decisions are determined by the optimized subset of factors contained within the Fundametrics® Alpha Composite (“Alpha Composite”) and the Fundametrics® Financial Warnings Overlay (“Financial Warnings Overlay”). The Alpha Composite is a combination of factors designed to identify alpha stocks, which are stocks considered to have the potential for excess returns. The Financial Warnings Overlay is then applied to the Fund’s investible universe of stocks using a separate set of risk factors designed to identify stocks with risk levels that the Adviser believes will lead to underperformance. The Financial Warnings Overlay is designed to avoid high risk stocks that otherwise rank attractively in the Alpha Composite. The Fund typically buys stocks that score highly with respect to the Alpha Composite and pass the
Financial Warnings Overlay and, as a final analysis, improve portfolio diversification. The Fund typically sells stocks that score low on the Alpha Composite or are flagged by the Financial Warnings Overlay as presenting unreasonable risk.
The Adviser selects securities from among approximately 500 issuers ranked according to fundamental factors using the Adviser’s Alpha Composite. Among other fundamental factors, the Alpha Composite model emphasizes the following three key criteria when choosing equity securities with the potential for long-term capital appreciation:
•relative valuation;
•earnings growth rates; and
•cash flow measurements.
The Fund may lend its portfolio securities to brokers, dealers, and other financial organizations. These loans, if and when made, may not exceed 33 1/3% of the total asset value of the Fund (including the loan collateral). By lending its securities, the Fund may increase its income by receiving payments from the borrower.
FUNL - Performance
Return Ranking - Trailing
| Period | FUNL Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -2.9% | -21.2% | 27.4% | 52.30% |
| 1 Yr | -9.2% | -61.1% | 51.5% | 10.08% |
| 3 Yr | N/A* | -22.7% | 64.3% | N/A |
| 5 Yr | N/A* | -17.2% | 29.8% | N/A |
| 10 Yr | N/A* | -16.4% | 14.3% | N/A |
* Annualized
Return Ranking - Calendar
| Period | FUNL Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -5.8% | -65.1% | 38.0% | 19.62% |
| 2021 | 12.2% | -25.3% | 29.0% | 11.25% |
| 2020 | N/A | -8.4% | 56.7% | N/A |
| 2019 | N/A | -24.3% | 10.4% | N/A |
| 2018 | N/A | -9.4% | 21.9% | N/A |
Total Return Ranking - Trailing
| Period | FUNL Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -2.9% | -21.2% | 27.4% | 52.14% |
| 1 Yr | -9.2% | -61.1% | 61.5% | 12.00% |
| 3 Yr | N/A* | -22.7% | 64.3% | N/A |
| 5 Yr | N/A* | -16.2% | 32.9% | N/A |
| 10 Yr | N/A* | -3.7% | 21.1% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | FUNL Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -5.8% | -65.1% | 38.0% | 19.62% |
| 2021 | 12.2% | -25.3% | 29.0% | 11.25% |
| 2020 | N/A | -8.4% | 56.7% | N/A |
| 2019 | N/A | -24.3% | 10.4% | N/A |
| 2018 | N/A | -8.9% | 21.9% | N/A |
FUNL - Holdings
Concentration Analysis
| FUNL | Category Low | Category High | FUNL % Rank | |
|---|---|---|---|---|
| Net Assets | 134 M | 390 K | 151 B | 82.47% |
| Number of Holdings | 140 | 2 | 1727 | 21.33% |
| Net Assets in Top 10 | 19.1 M | 2.1 K | 32.3 B | 84.45% |
| Weighting of Top 10 | 14.30% | 5.0% | 99.2% | 97.50% |
Top 10 Holdings
- Alphabet Inc Class A 1.66%
- JPMorgan Chase & Co 1.61%
- Exxon Mobil Corp 1.55%
- Merck & Co Inc 1.50%
- Comcast Corp Class A 1.48%
- Occidental Petroleum Corp 1.39%
- Wells Fargo & Co 1.34%
- Johnson & Johnson 1.31%
- Bristol-Myers Squibb Co 1.26%
- Medtronic PLC 1.24%
Asset Allocation
| Weighting | Return Low | Return High | FUNL % Rank | |
|---|---|---|---|---|
| Stocks | 98.90% | 28.02% | 125.26% | 40.76% |
| Cash | 1.10% | -88.20% | 71.98% | 56.07% |
| Preferred Stocks | 0.00% | 0.00% | 19.30% | 26.99% |
| Other | 0.00% | -2.02% | 26.80% | 21.66% |
| Convertible Bonds | 0.00% | 0.00% | 3.66% | 22.89% |
| Bonds | 0.00% | 0.00% | 80.18% | 24.21% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | FUNL % Rank | |
|---|---|---|---|---|
| Financial Services | 20.44% | 0.00% | 58.05% | 34.70% |
| Healthcare | 17.21% | 0.00% | 30.77% | 52.87% |
| Technology | 12.56% | 0.00% | 54.02% | 34.16% |
| Industrials | 11.42% | 0.00% | 42.76% | 51.71% |
| Energy | 8.30% | 0.00% | 54.00% | 38.28% |
| Communication Services | 7.24% | 0.00% | 26.58% | 27.33% |
| Consumer Cyclical | 6.12% | 0.00% | 22.74% | 45.96% |
| Real Estate | 5.32% | 0.00% | 90.54% | 16.23% |
| Consumer Defense | 5.30% | 0.00% | 34.10% | 83.15% |
| Utilities | 3.69% | 0.00% | 27.04% | 62.66% |
| Basic Materials | 2.41% | 0.00% | 21.69% | 72.90% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | FUNL % Rank | |
|---|---|---|---|---|
| US | 98.51% | 24.51% | 121.23% | 17.17% |
| Non US | 0.39% | 0.00% | 45.02% | 86.00% |
FUNL - Expenses
Operational Fees
| FUNL Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.50% | 0.01% | 4.02% | 81.09% |
| Management Fee | 0.50% | 0.00% | 1.50% | 35.54% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.50% | N/A |
Sales Fees
| FUNL Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.75% | N/A |
| Deferred Load | N/A | 0.95% | 5.00% | N/A |
Trading Fees
| FUNL Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
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.
| FUNL Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 26.00% | 0.00% | 488.00% | 35.39% |
FUNL - Distributions
Dividend Yield Analysis
| FUNL | Category Low | Category High | FUNL % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.89% | 0.00% | 42.27% | 15.30% |
Dividend Distribution Analysis
| FUNL | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annually | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| FUNL | Category Low | Category High | FUNL % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.68% | -1.51% | 4.28% | 32.26% |
Capital Gain Distribution Analysis
| FUNL | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Quarterly | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 16, 2022 | $0.599 | OrdinaryDividend |
| Dec 17, 2020 | $0.127 | OrdinaryDividend |
FUNL - Fund Manager Analysis
Managers
J. Cannon Carr
Start Date
Tenure
Tenure Rank
Aug 19, 2020
1.78
1.8%
Cannon became Chief Executive Officer in June 2020 after thirteen years as the firm’s Chief Investment Officer. Since joining the firm in 2007, he’s led the firm’s investment committee and oversaw the firm’s investment strategies and process, stock and asset class research, and portfolio management. He also co-manages the three CornerCap mutual funds (Small Cap Value, Large Cap Value, and Balanced). Prior to joining CornerCap, Cannon was a senior equity analyst at CIBC World Markets (formerly Oppenheimer), covering IT business services (2006-07), wireless services (2001-05), and emerging telecom (1998-05). Cannon has provided commentary on CNBC, CNN, Lou Dobbs MoneyLine, and Bloomberg News. He has also been quoted in the New York Times, Wall Street Journal, Financial Times, and Fortune, among other publications. He was rated a five-star analyst by Zachs Research in 2006. Cannon has an MBA from Columbia Business School and a BA from Princeton University in Political Economy. Public service is important to Cannon. He heads the investment committee for the Wesleyan College endowment, serves as Chair of the Advisory Board for the Center for Ethics at Emory University, and is President-Elect of the Atlanta Rotary Club. He is a past Board member of the Technical College System of Georgia Foundation and also currently serves as Chair of the Georgia Tennis Foundation, among other nonprofit endeavors.
Joshua Tucker
Start Date
Tenure
Tenure Rank
Aug 19, 2020
1.78
1.8%
Josh is a Portfolio Manager and Research Analyst. He leads the investment team’s international quantitative research effort and supports the quant and fundamental research efforts of the domestic strategies. He joined CornerCap in January 2014 after completing a research internship with the firm in 2013. Josh holds an MBA from Scheller College of Business at Georgia Institute of Technology and a BS in Business Administration with a major in Finance from Mississippi State University. Prior to business school, Josh worked as a research associate where he was responsible for
Jeffrey Moeller
Start Date
Tenure
Tenure Rank
Aug 19, 2020
1.78
1.8%
Jeff is CornerCap's Director of Research, overseeing the day-to-day execution of Fundametrics® and research of the firm's investment products. He is a member of the investment committee and Portfolio Manager. He comanages the three CornerCap mutual funds (Small Cap Value, Large/Mid Cap Value, and Balanced). Jeff joined CornerCap in 2000 and served as the firm’s trader for three years. He returned in 2004 as a research analyst. Jeff is a Chartered Financial Analyst (CFA) Charterholder and a member of the CFA Institute and the Atlanta Society of Finance and Investment Professionals. He has a BS in Finance from Oklahoma State University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 86.59 | 7.9 | 16.42 |
