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 10/31/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
8.4%
1 yr return
12.3%
3 Yr Avg Return
3.7%
5 Yr Avg Return
N/A
Net Assets
$29.2 M
Holdings in Top 10
44.5%
Expense Ratio 1.79%
Front Load N/A
Deferred Load N/A
Turnover N/A
Redemption Fee N/A
Standard (Taxable)
$100
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 10/31/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
To pursue its objective, under normal circumstances, the Fund invests primarily in dividend paying equity securities, with at least 80% of its net assets in income generating equity securities and equity-related instruments traded on U.S. exchanges. For purposes of this policy, the Fund includes common stocks and securities convertible into common stocks of companies with any market capitalization and sponsored or unsponsored American Depositary Receipts (ADRs). Under normal circumstances, the fund will seek to generate current earnings from option premiums by writing (selling) call options on its portfolio securities, all of which will be covered calls. A covered call refers to a financial transaction in which the investor selling a call option owns an equivalent amount of the underlying security. The investor’s ownership of the long position in the asset is the “cover” because the seller can deliver the shares if the buyer of the call option chooses to exercise. The fund seeks to produce current income from dividends and, to a lesser extent, from option writing premiums. The Fund will buy index and ETF put options as well as put options on individual securities in order to seek to both reduce volatility and provide downside market protection for the portfolio.
The portfolio management team of the Fund selects equity securities that it believes will pay consistent and sustainable dividends, have a strong track record of and future ability to increase the dividend, proven history of predictable cash flows that increase over time, and with barriers to competition. At the time of initial investment selection, common stocks will have a minimum market cap of $1billion. The portfolio will typically invest in 25 to 40 holdings across multiple economic sectors and will not invest more than 35% of the fund’s net assets in any one such sector to diversify risk.
The extent of option writing activity will depend on the portfolio management team’s judgment regarding perceived value associated with security prices, market conditions, the attractiveness of writing call options on the fund’s stock holdings, and timing issues related to monthly option expiration dates. Writing covered calls produces income from premiums, a portion of which will be used to purchase puts which helps to reduce the volatility (and risk profile) of the fund by providing downside protection.
The fund is required to pledge collateral for the covered call option trades and will hold the security as collateral for all such covered call option trades. Put options collateral is limited to the total cash paid for the option. The fund’s Custodian will segregate such collateral for the benefit of the counterparty. High levels of new investment inflow can lead to periods of higher cash levels, as investment opportunities are identified. Similarly, during periods in which stock markets advance, the exercise of options may result in higher cash levels.
The Fund is non-diversified, meaning it may invest in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual security volatility than a diversified fund.
Purchase and sale decisions are based on the Adviser’s judgment about issuers, risk, prices of securities, market conditions, potential returns, and other economic factors.
Period | APLIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.4% | -70.1% | 51.5% | N/A |
1 Yr | 12.3% | 0.5% | 78.3% | N/A |
3 Yr | 3.7%* | -3.6% | 22.3% | N/A |
5 Yr | N/A* | 3.9% | 24.7% | N/A |
10 Yr | N/A* | 6.0% | 18.4% | N/A |
* Annualized
Period | APLIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.9% | -94.0% | 2181.7% | N/A |
2022 | -4.0% | -22.7% | 41.1% | N/A |
2021 | N/A | -100.0% | 4.6% | N/A |
2020 | N/A | -100.0% | 33.2% | N/A |
2019 | N/A | -44.8% | 25.0% | N/A |
Period | APLIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.4% | -70.1% | 51.5% | N/A |
1 Yr | 12.3% | 0.5% | 78.3% | N/A |
3 Yr | 3.7%* | -3.6% | 26.2% | N/A |
5 Yr | N/A* | 3.9% | 24.7% | N/A |
10 Yr | N/A* | 6.0% | 18.4% | N/A |
* Annualized
Period | APLIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.0% | -94.0% | 2181.7% | N/A |
2022 | -1.9% | -21.6% | 41.1% | N/A |
2021 | N/A | -100.0% | 8.2% | N/A |
2020 | N/A | -100.0% | 33.2% | N/A |
2019 | N/A | -13.4% | 26.8% | N/A |
APLIX | Category Low | Category High | APLIX % Rank | |
---|---|---|---|---|
Net Assets | 29.2 M | 20 | 1.26 T | 89.64% |
Number of Holdings | 67 | 2 | 4025 | 58.97% |
Net Assets in Top 10 | 12.5 M | -466 M | 287 B | 77.42% |
Weighting of Top 10 | 44.51% | 2.5% | 100.0% | 20.39% |
Weighting | Return Low | Return High | APLIX % Rank | |
---|---|---|---|---|
Stocks | 99.43% | 0.00% | 140.97% | 80.55% |
Cash | 1.38% | -93.93% | 50.42% | 15.15% |
Preferred Stocks | 0.00% | 0.00% | 3.21% | 13.36% |
Convertible Bonds | 0.00% | 0.00% | 8.52% | 8.89% |
Bonds | 0.00% | 0.00% | 87.09% | 13.19% |
Other | -4.36% | -15.82% | 100.00% | 14.20% |
Weighting | Return Low | Return High | APLIX % Rank | |
---|---|---|---|---|
Technology | 15.22% | 0.00% | 77.07% | 79.41% |
Healthcare | 15.09% | 0.00% | 59.20% | 92.42% |
Energy | 12.18% | 0.00% | 19.56% | 1.75% |
Utilities | 11.65% | 0.00% | 36.12% | 1.24% |
Consumer Defense | 10.10% | 0.00% | 50.98% | 11.71% |
Consumer Cyclical | 7.87% | 0.00% | 53.38% | 77.71% |
Real Estate | 7.01% | 0.00% | 84.43% | 3.45% |
Financial Services | 6.44% | 0.00% | 67.99% | 94.51% |
Industrials | 6.29% | 0.00% | 62.11% | 33.26% |
Communication Services | 4.20% | 0.00% | 35.35% | 69.29% |
Basic Materials | 3.95% | 0.00% | 30.96% | 15.72% |
Weighting | Return Low | Return High | APLIX % Rank | |
---|---|---|---|---|
US | 99.43% | 0.00% | 136.02% | 80.72% |
Non US | 0.00% | 0.00% | 64.59% | 18.11% |
APLIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.79% | 0.01% | 3.38% | 13.78% |
Management Fee | 0.80% | 0.00% | 2.00% | 90.75% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 31.92% |
Administrative Fee | 0.08% | 0.00% | 0.95% | N/A |
APLIX 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 | 1.00% | 5.00% | N/A |
APLIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.25% | 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.
APLIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 363.00% | N/A |
APLIX | Category Low | Category High | APLIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.81% | 0.00% | 1.97% | 11.76% |
APLIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Semi-Annually | Monthly | Monthly |
APLIX | Category Low | Category High | APLIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.90% | -2.09% | 2.65% | N/A |
APLIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
Date | Amount | Type |
---|---|---|
Sep 30, 2024 | $0.023 | OrdinaryDividend |
Mar 28, 2024 | $0.046 | OrdinaryDividend |
Dec 28, 2023 | $0.060 | OrdinaryDividend |
Sep 29, 2023 | $0.044 | OrdinaryDividend |
Jun 30, 2023 | $0.039 | OrdinaryDividend |
Mar 31, 2023 | $0.072 | OrdinaryDividend |
Dec 29, 2022 | $0.067 | OrdinaryDividend |
Sep 30, 2022 | $0.048 | OrdinaryDividend |
Jun 30, 2022 | $0.042 | OrdinaryDividend |
Mar 31, 2022 | $0.055 | OrdinaryDividend |
Dec 30, 2021 | $0.049 | OrdinaryDividend |
Sep 30, 2021 | $0.041 | OrdinaryDividend |
Jun 30, 2021 | $0.032 | OrdinaryDividend |
Mar 31, 2021 | $0.035 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Dec 28, 2020
1.42
1.4%
Mr. Phillips founded Lavaca Capital in 2014 and oversees all the firm’s operations, with a special focus on Portfolio Management. Prior to founding Lavaca Capital, he oversaw the investments of a family office with a focus on derivative investments and has over 15 years of investment management experience. Scott began his career in the Houston Audit Practice of KPMG and is a licensed CPA. Scott is a graduate of the University of Texas at Austin with undergraduate & graduate degrees in Accounting and Finance.
Start Date
Tenure
Tenure Rank
Dec 28, 2020
1.42
1.4%
Mr. Johnson joined Lavaca in 2018 and is a Portfolio Manager with the firm. Prior to joining Lavaca he served in financial commodity sales and trading roles with banks Societe Generale and Mitsubishi UFJ Financial Group. Previously, he held similar positions with BP, Reliant Energy and Shell Trading. Jacob has over 20 years derivative investment experience in both exchange traded and complex OTC option structures. Jacob holds a degree in Mechanical Engineering from The University of Texas at Austin and an MBA from Rice University.
Start Date
Tenure
Tenure Rank
Dec 28, 2020
1.42
1.4%
Brandon Barnes manages the investment team that conducts fundamental equity research for Cavanal Hill Investment Management. He is responsible for the portfolio management of the Cavanal Hill Dividend Equity, Large Cap Core, Concentrated Equity Income, and New Growth Leaders strategies. In addition, he is a portfolio manager for the Cavanal Hill Opportunistic Fund and the Cavanal Hill Active Core Fund. Brandon earned a Bachelor of Business Administration Degree and a Master of Science Degree in Business Administration from Texas Tech University. Brandon holds the Chartered Financial Analyst designation.
Start Date
Tenure
Tenure Rank
Dec 28, 2020
1.42
1.4%
Schloss has been an equity fund manager at BOk Investment Advisers, Inc. since 2000. Prior to joining BOk Investment Advisers, Inc., he was an investor relations analyst for The Williams Companies. Schloss began his career as a financial consultant with Merrill Lynch in 1992. He also worked as an equity analyst for PRP Performa AG in Vaduz, Liechtenstein in 1998.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.01 | 38.36 | 6.62 | 1.75 |
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