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 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
14.5%
1 yr return
23.8%
3 Yr Avg Return
4.0%
5 Yr Avg Return
N/A
Net Assets
$13.4 M
Holdings in Top 10
23.7%
Expense Ratio 2.00%
Front Load N/A
Deferred Load N/A
Turnover N/A
Redemption Fee N/A
Standard (Taxable)
$2,500
IRA
$500
Fund Type
Open End Mutual Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund pursues its investment objective by normally investing 60% of its assets in equity securities (the “Equity Sleeve”) and, on a look-through basis, 40% of its assets in fixed-income securities and cash equivalents (the “Fixed Income Sleeve”). The Fund’s investment adviser may make adjustments to the exact percentages from time to time.
Equity securities in which the Fund may principally invest consist of common stocks and preferred stocks. The primary decision factor in building the Equity Sleeve of the investment portfolio is the combination of dividend-paying stocks and stocks determined to have high or improving return on invested capital (“ROIC”). For this purpose, the Adviser reviews the profitability, as measured by ROIC, of potential equity investments and selects those investments: (i) with ROIC that is above the company’s cost of capital and above the industry average, or (ii) that are seeing ROIC improve relative to such company’s own history. Industry average is defined as a company’s Global Industry Classification Standard (GICS) industry mean. The Fund may invest in companies that have market capitalizations of any size. Up to 25% of the equity portion of the investment portfolio (calculated based on the total market value of the Fund’s Equity Sleeve) may be in stocks outside of the US.
With respect to foreign securities, the Adviser considers a company to be economically tied to a country if at least one of the following attributes exists: the company (1) is organized in such country, (2) is headquartered in such country, (3) has its primary stock exchange listing in a market located in such country, or (4) during the company’s most recent fiscal year, derived at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in such country or has at least 50% of its assets in such country.
For the Fixed Income Sleeve, the Fund intends to invest in the securities of affiliated exchange traded funds, primarily consisting of ETFs advised by the Adviser (each, an "Underlying ETF"). The Adviser intends for the Fixed Income Sleeve to gain fixed income exposure through investments in Underlying ETFs, primarily the ALPS | Smith Core Plus Bond ETF ("SMTH"), although the Fixed Income Sleeve may gain fixed income exposure by investing in other unaffiliated and affiliated ETFs. Individual shares of affiliated and unaffiliated ETFs may only be purchased and sold in secondary market transactions through a broker or dealer at a market price. Shares of SMTH are listed for trading on the NYSE Arca.
An Underlying ETF’s fixed-income investments will principally consist of corporate debt securities, U.S. Government obligations, agency mortgage-backed securities, asset-backed securities, “to be announced” or “TBA” commitments, and bank loans. An Underlying ETF may invest in instruments of any maturity or duration and of any credit quality (including non-investment grade bonds, also known as “junk” bonds). An Underlying ETF’s investment in agency mortgage-backed securities and asset-backed securities represent “pools” of commercial or residential mortgages or other assets, including consumer loans or receivables. On a look-through basis, the Fund may invest up to 35% of the Fixed Income Sleeve of the Fund’s portfolio in high-yield/high-risk bonds, also known as “junk” bonds.
In addition to considering economic factors such as the effect of interest rates on the Fund’s investments, the portfolio managers typically apply a “bottom up” approach in choosing investments. Due to the nature of the securities in which the Fund invests, the Fund may have relatively high portfolio turnover compared to other funds.
The portfolio managers use a disciplined sell strategy for the Fund. The portfolio managers may sell securities because of a deterioration of the underlying company’s financials, such as earnings or cash flow, or because of an increase in the price of a security that would make it expensive relative to the other securities held by the Fund. Other reasons may include a change in management or control of the company, a need to raise cash or changes in the regulatory or economic environment in which the company operates. Portfolio managers can also sell any security at their discretion based on changes in expected valuation, volatility or other statistical or fundamental parameters.
Period | ALIBX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 14.5% | -3.2% | 57.3% | 8.10% |
1 Yr | 23.8% | -2.8% | 64.3% | 8.68% |
3 Yr | 4.0%* | -5.5% | 13.7% | 19.11% |
5 Yr | N/A* | -3.3% | 19.4% | N/A |
10 Yr | N/A* | 0.9% | 11.9% | N/A |
* Annualized
Period | ALIBX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.3% | -12.2% | 23.9% | 9.67% |
2022 | -17.1% | -34.7% | 2.8% | 35.04% |
2021 | 14.8% | -11.9% | 18.1% | 2.28% |
2020 | N/A | -20.9% | 39.7% | N/A |
2019 | N/A | 0.8% | 25.7% | N/A |
Period | ALIBX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 14.5% | -3.2% | 57.3% | 8.10% |
1 Yr | 23.8% | -2.8% | 64.3% | 8.68% |
3 Yr | 4.0%* | -5.5% | 13.7% | 19.11% |
5 Yr | N/A* | -3.3% | 19.4% | N/A |
10 Yr | N/A* | 0.9% | 11.9% | N/A |
* Annualized
Period | ALIBX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 16.4% | -12.2% | 26.8% | 20.35% |
2022 | -16.2% | -29.0% | 10.9% | 72.58% |
2021 | 15.5% | -3.0% | 27.3% | 23.07% |
2020 | N/A | -19.5% | 40.6% | N/A |
2019 | N/A | 2.2% | 32.7% | N/A |
ALIBX | Category Low | Category High | ALIBX % Rank | |
---|---|---|---|---|
Net Assets | 13.4 M | 789 K | 230 B | 97.56% |
Number of Holdings | 247 | 2 | 16015 | 33.77% |
Net Assets in Top 10 | 3.22 M | 577 K | 69.8 B | 97.98% |
Weighting of Top 10 | 23.66% | 10.8% | 122.7% | 85.86% |
Weighting | Return Low | Return High | ALIBX % Rank | |
---|---|---|---|---|
Stocks | 65.96% | 0.00% | 100.16% | 57.43% |
Bonds | 32.58% | 0.00% | 74.58% | 26.55% |
Cash | 1.16% | -7.92% | 100.00% | 54.40% |
Preferred Stocks | 0.31% | 0.00% | 23.91% | 10.25% |
Other | 0.00% | -42.55% | 113.97% | 68.83% |
Convertible Bonds | 0.00% | 0.00% | 23.84% | 94.04% |
Weighting | Return Low | Return High | ALIBX % Rank | |
---|---|---|---|---|
Technology | 20.35% | 0.00% | 44.21% | 42.42% |
Financial Services | 15.07% | 0.00% | 38.77% | 43.44% |
Healthcare | 12.72% | 0.00% | 29.35% | 71.14% |
Consumer Cyclical | 11.71% | 0.00% | 19.36% | 18.22% |
Industrials | 11.70% | 0.00% | 24.37% | 25.80% |
Consumer Defense | 8.24% | 0.00% | 15.14% | 19.68% |
Energy | 6.91% | 0.00% | 85.65% | 23.03% |
Basic Materials | 5.77% | 0.00% | 33.35% | 11.37% |
Communication Services | 5.70% | 0.00% | 38.10% | 81.78% |
Real Estate | 1.84% | 0.00% | 65.01% | 78.86% |
Utilities | 0.00% | 0.00% | 99.55% | 95.48% |
Weighting | Return Low | Return High | ALIBX % Rank | |
---|---|---|---|---|
US | 65.96% | 0.00% | 100.16% | 51.37% |
Non US | 0.00% | 0.00% | 39.06% | 62.48% |
Weighting | Return Low | Return High | ALIBX % Rank | |
---|---|---|---|---|
Corporate | 49.10% | 0.00% | 98.21% | 19.04% |
Government | 25.55% | 0.00% | 97.26% | 59.88% |
Securitized | 22.66% | 0.00% | 92.13% | 34.01% |
Cash & Equivalents | 1.12% | 0.00% | 99.92% | 50.07% |
Derivative | 0.00% | -2.87% | 42.43% | 57.00% |
Municipal | 0.00% | 0.00% | 24.80% | 81.25% |
Weighting | Return Low | Return High | ALIBX % Rank | |
---|---|---|---|---|
US | 32.58% | 0.00% | 74.58% | 25.97% |
Non US | 0.00% | 0.00% | 15.37% | 56.57% |
ALIBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.00% | 0.03% | 17.63% | 9.18% |
Management Fee | 0.70% | 0.00% | 1.83% | 85.10% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 34.95% |
Administrative Fee | N/A | 0.01% | 0.83% | N/A |
ALIBX 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 |
ALIBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.00% | 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.
ALIBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 343.00% | 29.69% |
ALIBX | Category Low | Category High | ALIBX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.31% | 0.00% | 17.90% | 70.77% |
ALIBX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annual | Quarterly | Quarterly |
ALIBX | Category Low | Category High | ALIBX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.38% | -2.34% | 19.41% | 85.17% |
ALIBX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Oct 24, 2024 | $0.014 | OrdinaryDividend |
Sep 29, 2024 | $0.020 | OrdinaryDividend |
Aug 29, 2024 | $0.020 | OrdinaryDividend |
Jul 25, 2024 | $0.013 | OrdinaryDividend |
Apr 25, 2024 | $0.013 | OrdinaryDividend |
Mar 21, 2024 | $0.016 | OrdinaryDividend |
Feb 22, 2024 | $0.018 | OrdinaryDividend |
Jan 25, 2024 | $0.014 | OrdinaryDividend |
Dec 22, 2023 | $0.017 | OrdinaryDividend |
Nov 16, 2023 | $0.019 | OrdinaryDividend |
Oct 26, 2023 | $0.014 | OrdinaryDividend |
Sep 28, 2023 | $0.015 | OrdinaryDividend |
Aug 24, 2023 | $0.020 | OrdinaryDividend |
Jul 27, 2023 | $0.014 | OrdinaryDividend |
Jun 29, 2023 | $0.013 | OrdinaryDividend |
May 25, 2023 | $0.024 | OrdinaryDividend |
Apr 27, 2023 | $0.013 | OrdinaryDividend |
Mar 30, 2023 | $0.020 | OrdinaryDividend |
Feb 23, 2023 | $0.013 | OrdinaryDividend |
Jan 26, 2023 | $0.013 | OrdinaryDividend |
Dec 23, 2022 | $0.008 | OrdinaryDividend |
Nov 17, 2022 | $0.016 | OrdinaryDividend |
Oct 27, 2022 | $0.010 | OrdinaryDividend |
Sep 29, 2022 | $0.015 | OrdinaryDividend |
Aug 25, 2022 | $0.012 | OrdinaryDividend |
Jul 27, 2022 | $0.008 | OrdinaryDividend |
Jun 23, 2022 | $0.015 | OrdinaryDividend |
May 26, 2022 | $0.014 | OrdinaryDividend |
Apr 27, 2022 | $0.002 | OrdinaryDividend |
Mar 24, 2022 | $0.011 | OrdinaryDividend |
Feb 24, 2022 | $0.010 | OrdinaryDividend |
Jan 27, 2022 | $0.004 | OrdinaryDividend |
Dec 23, 2021 | $0.006 | OrdinaryDividend |
Dec 09, 2021 | $0.023 | OrdinaryDividend |
Nov 18, 2021 | $0.003 | OrdinaryDividend |
Oct 27, 2021 | $0.003 | OrdinaryDividend |
Sep 23, 2021 | $0.005 | OrdinaryDividend |
Aug 26, 2021 | $0.013 | OrdinaryDividend |
May 27, 2021 | $0.009 | OrdinaryDividend |
Apr 28, 2021 | $0.002 | OrdinaryDividend |
Mar 25, 2021 | $0.004 | OrdinaryDividend |
Feb 25, 2021 | $0.005 | OrdinaryDividend |
Jan 28, 2021 | $0.003 | OrdinaryDividend |
Dec 24, 2020 | $0.005 | OrdinaryDividend |
Nov 19, 2020 | $0.006 | OrdinaryDividend |
Oct 28, 2020 | $0.002 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Sep 15, 2020
1.71
1.7%
Laton Spahr serves as portfolio manager of the Large Cap Value, Dividend Value and Mid Cap Value strategies. Prior to joining the firm in March 2013, Laton was a senior portfolio manager at Columbia Management Investment Advisors since 2003, managing value and income strategies across institutional and retail investment channels. During his twelve-year tenure at Columbia Management, he also conducted equity risk management, analyzed and traded derivatives and structured products, and was a technology analyst. Laton was an equity analyst at Holland Capital Management from 1999 to 2001, a research intern at Friess Associates from 1998 to 1999, and a commercial loan officer at Jackson State Bank from 1997 to 1998. He holds a B.S. in finance and minor in accounting from the University of Wyoming and an M.S. in finance, investments, and banking as part of the Applied Security Analysis program at the University of Wisconsin. Laton is also a CFA charterholder.
Start Date
Tenure
Tenure Rank
Sep 15, 2020
1.71
1.7%
Mr. Bernum is an Investor with Smith Capital Investors, LLC, and has served as portfolio manager of the Funds since 2019. Prior to his association with Smith Capital Investors, Mr. Bernum was an Executive Director, Senior Portfolio Manager at J.P. Morgan Asset Management from 2017 to 2018. Before that, Mr. Bernum was at Janus Capital Group from 2004 to 2017 holding various positions including Assistant Portfolio Manager and the Co-Head of Global Fixed Income Trading. Mr. Bernum holds a Bachelor’s degree in Finance from Colorado State University.
Start Date
Tenure
Tenure Rank
Sep 15, 2020
1.71
1.7%
Mr. Smith is the Chief Investment Officer of Smith Capital Investors, LLC. Prior to his association with Smith Capital Investors, Mr. Smith was with Janus Capital from 2001 until March 2016. He served as the Chief Investment Officer of Fixed Income for Janus Capital from 2006 to 2016. Mr. Smith holds a Bachelor’s degree in Economics from the University of Colorado.
Start Date
Tenure
Tenure Rank
Sep 15, 2020
1.71
1.7%
Eric Hewitt serves as lead portfolio manager of the Small Cap Value strategy, co-portfolio manager of the Mid Cap Value strategy and senior research analyst for the Large Cap Value and Dividend Value strategies. Prior to joining the firm in March 2013, Eric was a product manager and customer portfolio manager responsible for multiple value strategies at Columbia Management Investment Advisors. From 2009 to 2012, he was a senior equity analyst at Diamondback/Harbor Watch Capital Management for a multi-strategy hedge fund and focused on mid- and small-cap value stocks in the consumer non-cyclical and cyclical sectors and related industrial and financial areas. From 1999 to 2009, Eric worked at AllianceBernstein, serving as senior equity analyst and portfolio manager. Prior to AllianceBernstein, he was a bond trader and funding specialist at Lehman Brothers for five years. Eric holds a B.A. in political science and international relations from the University of Wisconsin and an M.B.A. with a concentration in finance from the University of Minnesota – Carlson School of Management.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 34.51 | 6.36 | 2.41 |
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