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Trending ETFs

Ave Maria Bond Fund

mutual fund
AVEFX
Payout Change
Pending
Price as of:
$11.85 +0.02 +0.17%
primary theme
U.S. Conservative Allocation
share class
AVEFX (Mutual Fund)

Ave Maria Bond Fund

Payout Change
Pending
Price as of:
$11.85 +0.02 +0.17%
primary theme
U.S. Conservative Allocation
share class
AVEFX (Mutual Fund)

Ave Maria Bond Fund

Payout Change
Pending
Price as of:
$11.85 +0.02 +0.17%
primary theme
U.S. Conservative Allocation
share class

Name

As of 05/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Ave Maria Bond Fund

AVEFX | Fund

$11.85

$566 M

3.37%

$0.40

0.42%

Vitals

YTD Return

1.6%

1 yr return

6.8%

3 Yr Avg Return

0.8%

5 Yr Avg Return

3.5%

Net Assets

$566 M

Holdings in Top 10

20.5%

52 WEEK LOW AND HIGH

$11.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.42%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 47.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Ave Maria Bond Fund

AVEFX | Fund

$11.85

$566 M

3.37%

$0.40

0.42%

AVEFX - Profile

Distributions

  • YTD Total Return 1.6%
  • 3 Yr Annualized Total Return 0.8%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.87%
DIVIDENDS
  • Dividend Yield 3.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Ave Maria Bond Fund
  • Fund Family Name
    Schwartz Investment Trust
  • Inception Date
    May 01, 2003
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Brandon Scheitler

Fund Description

The Ave Maria Bond Fund invests primarily (80% or more of its net assets, including the amount of any borrowings for investment purposes) in investment-grade debt securities of domestic issuers, including the U.S. government and its agencies and instrumentalities, corporations and municipalities and money market instruments. The Fund may invest up to 20% of its net assets in equity securities (which includes, but is not limited to, preferred stocks, common stocks paying dividends and securities convertible into common stock) of domestic or foreign issuers of any market capitalization. Under normal circumstances, all of the Fund’s investments in corporate debt and equity securities will satisfy the Fund’s religious criteria. This process is designed to avoid investments in companies believed to offer products or services or engage in practices that are contrary to the core values and teachings of the Roman Catholic Church.

The Fund seeks to invest in securities that appear comparatively undervalued. For example, the Fund would consider a security having a yield that is higher than another security of similar credit quality and duration to be comparatively undervalued. Unlike funds investing solely for income, the Fund also seeks modest capital appreciation and growth of investment income. The Fund may purchase securities that are convertible into common stock or carry warrants or common stock purchase rights when the Adviser believes they offer higher return potential than nonconvertible securities. Convertible securities generally are debt obligations that pay income, but may convert into common or preferred stock under certain circumstances. The Fund may also seek capital appreciation by investing in fixed income securities when the Adviser believes interest rates on such investments may decline, thereby increasing the market value of the Fund’s fixed income securities. The Adviser may also purchase securities it believes have a high potential for credit upgrade.

The moral screening process for the Fund uses information from third-party screening providers, the Adviser, shareholders, and other sources. The Catholic Advisory Board sets the criteria for screening out companies based on religious principles. In making this determination, the Catholic Advisory Board members are guided by the magisterium of the Roman Catholic Church. The magisterium of the Roman Catholic Church is the authority or office of the Roman Catholic Church to teach the authentic interpretation of the Word of God, whether in its written form or in universal faith and moral practices. This process will, in general, avoid four major categories of companies: (i) those involved in the practice of abortion; (ii) those whose policies are judged to be antifamily, such as companies that distribute pornographic material; (iii) those that contribute corporate funds to Planned Parenthood; and (iv) those that support embryonic stem cell research. The Fund is not authorized or sponsored by the Roman Catholic Church and the Catholic Advisory Board is not affiliated with the Roman Catholic Church. For more information about the Catholic Advisory Board, please turn to the “Catholic Advisory Board” section of this Prospectus.

The Fund will invest at least 80% of its net assets in “investment-grade” debt securities and securities issued by the U.S. government, its agencies, or instrumentalities. Investment-grade debt securities are corporate bonds, debentures, notes, or money market instruments rated in the top four categories at the time of purchase by a nationally recognized rating agency, or unrated securities the Adviser considers to be of comparable quality. Securities issued by the U.S. government, its agencies or its instrumentalities include direct obligations of the U.S. Treasury (including Treasury Inflation-Protected Securities (“TIPS”)) and securities issued or guaranteed as to payment of interest and principal by agencies or instrumentalities of the U.S. government. The Fund will invest no more than 20% of its net assets in debt securities whose highest rating, at the time of purchase, is BBB or lower by S&P Global Ratings (“S&P”) (or an equivalent rating).

The Fund may invest in debt securities of any maturity. In selecting debt securities, the Adviser will focus on the issuer’s credit strength as well as the security’s effective duration and yield. Effective duration is a measure of a debt security’s price sensitivity to interest rate changes. Effective duration takes into account a debt security’s cash flows over time including the possibility that a debt security might be prepaid by the issuer or redeemed by the holder prior to its stated maturity date. In contrast, maturity measures only the time until the final payment is due. When the Adviser expects interest rates to rise, it may purchase debt securities with shorter maturities or invest in money market instruments. When the Adviser expects interest rates to fall, it may invest in longer-term debt securities. The Adviser may sell a security when it no longer meets its criteria for investment or when there are more attractive investment opportunities available. A stock will automatically be sold, if necessary, to ensure that the Fund’s investments are in accordance with its morally responsible investment policy.

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AVEFX - Performance

Return Ranking - Trailing

Period AVEFX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% -2.5% 6.0% 45.08%
1 Yr 6.8% -4.4% 14.8% 63.93%
3 Yr 0.8%* -10.6% 5.5% 9.17%
5 Yr 3.5%* -8.9% 6.3% 9.82%
10 Yr 3.2%* -2.4% 3.8% 26.74%

* Annualized

Return Ranking - Calendar

Period AVEFX Return Category Return Low Category Return High Rank in Category (%)
2023 2.5% -6.5% 9.5% 88.52%
2022 -6.2% -24.6% -1.5% 5.00%
2021 2.0% -8.5% 3.8% 11.76%
2020 3.0% -16.2% 11.1% 82.76%
2019 4.8% 3.0% 10.7% 96.43%

Total Return Ranking - Trailing

Period AVEFX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% -2.5% 6.0% 45.08%
1 Yr 6.8% -4.4% 14.8% 63.93%
3 Yr 0.8%* -10.6% 5.5% 9.17%
5 Yr 3.5%* -8.9% 6.3% 9.82%
10 Yr 3.2%* -2.4% 3.8% 26.74%

* Annualized

Total Return Ranking - Calendar

Period AVEFX Return Category Return Low Category Return High Rank in Category (%)
2023 5.2% -5.6% 13.3% 90.98%
2022 -2.8% -22.6% 8.8% 3.33%
2021 3.5% -8.5% 13.8% 57.14%
2020 5.6% -13.7% 13.5% 87.07%
2019 8.3% 5.7% 18.4% 93.75%

NAV & Total Return History


AVEFX - Holdings

Concentration Analysis

AVEFX Category Low Category High AVEFX % Rank
Net Assets 566 M 8.81 M 5.46 B 34.43%
Number of Holdings 162 2 2339 14.75%
Net Assets in Top 10 120 M 9.21 M 5.27 B 67.21%
Weighting of Top 10 20.53% 10.9% 102.4% 99.18%

Top 10 Holdings

  1. Federated Government Obligations Tax-Managed Fund Institutional Shares 3.15%
  2. Federated Treasury Obligations Fund Institutional Shares 2.41%
  3. Truist Financial Corporation 2.17%
  4. US Treasury Inflation-Protected Notes 0.500%, DUE 04/15/2024 2.09%
  5. Exxon Mobil Corporation 1.99%
  6. Coca-Cola Europacific Partners plc 1.79%
  7. Watsco, Inc. 1.77%
  8. United States Treasury Note 4.5%, Due 11/15/2023 1.75%
  9. ILLINOIS TOOL WORKS INC 2.65%, DUE 11/15/2026 1.72%
  10. U.S. Treasury Notes 4.5%, Due 11/15/2025 1.70%

Asset Allocation

Weighting Return Low Return High AVEFX % Rank
Bonds
76.37% 0.00% 154.51% 8.20%
Stocks
19.40% 0.00% 103.14% 80.33%
Cash
5.55% 0.00% 73.32% 24.59%
Preferred Stocks
0.00% 0.00% 1.20% 92.62%
Other
0.00% -71.99% 39.28% 86.07%
Convertible Bonds
0.00% 0.00% 3.97% 100.00%

Stock Sector Breakdown

Weighting Return Low Return High AVEFX % Rank
Industrials
29.86% 0.00% 29.86% 0.82%
Energy
24.76% 0.00% 27.98% 2.46%
Financial Services
12.19% 0.00% 20.10% 87.70%
Consumer Cyclical
10.89% 0.00% 12.36% 40.98%
Healthcare
10.06% 0.00% 19.76% 84.43%
Technology
6.82% 0.00% 25.62% 92.62%
Consumer Defense
5.41% 0.00% 22.77% 87.70%
Utilities
0.00% 0.00% 91.26% 100.00%
Real Estate
0.00% 0.00% 78.69% 100.00%
Communication Services
0.00% 0.00% 11.71% 100.00%
Basic Materials
0.00% 0.00% 8.62% 100.00%

Stock Geographic Breakdown

Weighting Return Low Return High AVEFX % Rank
US
19.40% 0.00% 103.14% 79.51%
Non US
0.00% 0.00% 14.08% 94.26%

Bond Sector Breakdown

Weighting Return Low Return High AVEFX % Rank
Corporate
61.03% 0.00% 73.91% 4.10%
Government
28.42% 0.00% 62.10% 55.74%
Cash & Equivalents
5.55% 0.00% 73.04% 27.05%
Derivative
0.00% -0.67% 39.28% 86.07%
Securitized
0.00% 0.00% 61.25% 100.00%
Municipal
0.00% 0.00% 7.45% 96.72%

Bond Geographic Breakdown

Weighting Return Low Return High AVEFX % Rank
US
76.37% 0.00% 154.51% 6.56%
Non US
0.00% 0.00% 22.08% 93.44%

AVEFX - Expenses

Operational Fees

AVEFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.42% 0.11% 6.36% 96.72%
Management Fee 0.25% 0.00% 1.25% 58.20%
12b-1 Fee N/A 0.00% 1.00% 15.20%
Administrative Fee N/A 0.01% 0.70% 54.23%

Sales Fees

AVEFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

AVEFX 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.

AVEFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 47.00% 6.00% 318.00% 65.45%

AVEFX - Distributions

Dividend Yield Analysis

AVEFX Category Low Category High AVEFX % Rank
Dividend Yield 3.37% 0.00% 5.22% 65.57%

Dividend Distribution Analysis

AVEFX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly SemiAnnual

Net Income Ratio Analysis

AVEFX Category Low Category High AVEFX % Rank
Net Income Ratio 1.87% -1.30% 3.99% 37.50%

Capital Gain Distribution Analysis

AVEFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

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AVEFX - Fund Manager Analysis

Managers

Brandon Scheitler


Start Date

Tenure

Tenure Rank

Sep 30, 2013

8.67

8.7%

Brandon S. Scheitler, MBA, is a lead portfolio manager, joined Schwartz Investment Counsel Inc in 2007 and currently serves as Vice President. He previously serves as Fixed-Income Analyst and Head Trader.

George Schwartz


Start Date

Tenure

Tenure Rank

Jan 01, 2020

2.41

2.4%

Schwartz, Chairman and Chief Executive Officer of Schwartz Investment Counsel, Inc, has acted as a portfolio manager and co-portfolio manager. He also serves as director of Schwartz Investment Counsel, Inc., president, chief executive officer and chief investment officer with responsibility for the development and implementation of the investment strategy of the firm. From 1974 to 1980, he was vice president, senior investment officer, and chairman of the Investment Committee of the National Bank and Trust of Ann Arbor. In 1980, George founded Schwartz Investment Counsel, Inc. Schwartz holds the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 26.96 6.4 12.09