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 12/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
27.5%
1 yr return
37.2%
3 Yr Avg Return
6.9%
5 Yr Avg Return
10.7%
Net Assets
$93 M
Holdings in Top 10
18.0%
Expense Ratio 1.49%
Front Load 5.50%
Deferred Load N/A
Turnover N/A
Redemption Fee N/A
Standard (Taxable)
$2,500
IRA
$100
Fund Type
Open End Mutual Fund
Name
As of 12/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The fund seeks to achieve its objective by normally investing at least 80% of its net assets (plus borrowings made for investment purposes) in companies with smaller market capitalizations. The fund expects to invest principally in U.S. companies but may invest to a lesser extent in non-U.S. companies. The fund currently considers smaller market capitalization companies to be companies with market capitalizations that are smaller than the largest company in the fund’s benchmark, the Russell 2000 Index (approximately $41.2 billion as of June 30, 2024). The fund’s principal investment universe includes micro-cap companies, which the portfolio managers consider to be those with market capitalizations generally in the bottom half of the benchmark. The portfolio managers generally seek exposure to smaller capitalization companies, including micro-cap companies, by employing three distinct small-cap strategies or “sleeves” for selecting individual stocks:
Quantitative Core. The Quantitative Core sleeve normally invests primarily in common stocks of companies with smaller market capitalizations that are listed on U.S. exchanges. The team’s quantitative investment process begins with a proprietary alpha model which blends behavioral factors (e.g., human behaviors and biases) and intrinsic valuation factors (e.g., tangible measures of a company’s underlying worth). The team utilizes a risk model for portfolio construction, with constraints at the individual security and industry levels to manage exposures relative to the benchmark. Additionally, all investment recommendations are thoroughly vetted at the individual company level to confirm the investment rationale and suitability before a purchase or sale.
Quantitative Growth. The growth sleeve is managed similar to the core sleeve but against a growth index. This sleeve normally invests primarily in common stocks of companies with smaller market capitalizations that are listed on U.S. exchanges. The team’s quantitative investment process begins with a proprietary alpha model which blends behavioral factors (e.g., human behaviors and biases) and intrinsic valuation factors (e.g., tangible measures of a company’s underlying worth). The team utilizes a risk model for portfolio construction, with constraints at the individual security and industry levels to manage exposures relative to the benchmark. Additionally, all investment recommendations are thoroughly vetted at the individual company level to confirm the investment rationale and suitability before a purchase or sale.
Managed Volatility. The Managed Volatility sleeve selects primarily common stocks of smaller-cap companies which in aggregate offer lower forecast risk and lower levels of correlation among the individual stocks. This focus may result in the sleeve outperforming the general securities market during periods of flat or negative market performance, and underperforming the general securities market during periods of strong positive market performance. This strategy utilizes both a quantitative and fundamental research process to make individual security and sector selection decisions.
The allocation of fund assets among the sleeves discussed above is set from time to time, may vary in size significantly from sleeve to sleeve and may periodically be adjusted through a collaborative effort among the portfolio managers. In addition to common stocks and other equity securities, the fund may invest a substantial portion of its assets in securities issued in initial public offerings (IPOs). The fund may invest up to 15% of its assets in non-U.S. securities, except that it may invest without limit in American Depositary Receipts (ADRs). The fund may also invest a portion of its assets in real estate investment trusts (REITs). In order to gain exposure to desired asset classes or securities, or for hedging or other investment purposes, the fund may also utilize foreign currency exchange contracts, options, stock index futures contracts, warrants and other derivative instruments. Although the fund did not invest significantly in derivative instruments as of the end of its most recent fiscal year, it may do so at any time.
Period | AZBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 27.5% | -1.0% | 30.3% | 6.86% |
1 Yr | 37.2% | 0.0% | 41.4% | 9.52% |
3 Yr | 6.9%* | -10.7% | 46.4% | 34.49% |
5 Yr | 10.7%* | -12.1% | 35.1% | 39.76% |
10 Yr | 9.8%* | -2.8% | 18.6% | 15.74% |
* Annualized
Period | AZBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.2% | -19.9% | 29.0% | 66.16% |
2022 | -22.3% | -59.3% | 118.2% | 67.88% |
2021 | 3.8% | -31.6% | 39.3% | 71.88% |
2020 | 16.5% | -51.0% | 39.5% | 20.84% |
2019 | 23.7% | -5.6% | 37.8% | 26.78% |
Period | AZBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 27.5% | -1.0% | 30.3% | 6.86% |
1 Yr | 37.2% | 0.0% | 41.4% | 9.52% |
3 Yr | 6.9%* | -10.7% | 46.4% | 34.49% |
5 Yr | 10.7%* | -12.1% | 35.1% | 39.76% |
10 Yr | 9.8%* | -2.8% | 18.6% | 15.74% |
* Annualized
Period | AZBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.7% | -11.7% | 31.8% | 74.57% |
2022 | -18.4% | -45.2% | 123.7% | 66.73% |
2021 | 18.9% | 0.0% | 45.6% | 75.78% |
2020 | 16.6% | -50.5% | 46.9% | 33.27% |
2019 | 23.9% | 2.2% | 40.9% | 58.58% |
AZBAX | Category Low | Category High | AZBAX % Rank | |
---|---|---|---|---|
Net Assets | 93 M | 555 K | 145 B | 84.60% |
Number of Holdings | 196 | 2 | 2445 | 45.06% |
Net Assets in Top 10 | 18 M | 124 K | 10.3 B | 82.51% |
Weighting of Top 10 | 17.98% | 3.1% | 100.1% | 44.85% |
Weighting | Return Low | Return High | AZBAX % Rank | |
---|---|---|---|---|
Stocks | 97.48% | 4.44% | 107.74% | 70.34% |
Cash | 2.69% | 0.00% | 27.02% | 32.70% |
Preferred Stocks | 0.00% | 0.00% | 5.13% | 100.00% |
Other | 0.00% | -0.07% | 49.08% | 98.67% |
Convertible Bonds | 0.00% | 0.00% | 3.17% | 100.00% |
Bonds | 0.00% | 0.00% | 102.81% | 100.00% |
Weighting | Return Low | Return High | AZBAX % Rank | |
---|---|---|---|---|
Financial Services | 16.52% | 0.00% | 35.52% | 33.46% |
Healthcare | 14.03% | 0.00% | 26.53% | 44.42% |
Industrials | 11.35% | 2.46% | 37.42% | 98.46% |
Technology | 10.97% | 0.00% | 43.95% | 84.62% |
Consumer Cyclical | 10.53% | 0.99% | 47.79% | 60.58% |
Energy | 9.34% | 0.00% | 37.72% | 7.31% |
Consumer Defense | 7.77% | 0.00% | 18.87% | 6.54% |
Utilities | 6.72% | 0.00% | 18.58% | 2.69% |
Basic Materials | 6.06% | 0.00% | 18.66% | 19.81% |
Real Estate | 4.12% | 0.00% | 29.43% | 83.46% |
Communication Services | 2.58% | 0.00% | 14.85% | 53.08% |
Weighting | Return Low | Return High | AZBAX % Rank | |
---|---|---|---|---|
US | 97.48% | 2.58% | 107.74% | 63.69% |
Non US | 0.00% | 0.00% | 97.07% | 100.00% |
AZBAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.49% | 0.01% | 38.30% | 20.23% |
Management Fee | 0.60% | 0.00% | 1.50% | 31.30% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 69.58% |
Administrative Fee | 0.10% | 0.01% | 0.45% | 56.10% |
AZBAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 5.50% | 3.50% | 5.75% | 70.31% |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
AZBAX 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.
AZBAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 1.00% | 314.00% | 86.15% |
AZBAX | Category Low | Category High | AZBAX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 42.47% | 28.14% |
AZBAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | SemiAnnual | Annually | Quarterly | Annual |
AZBAX | Category Low | Category High | AZBAX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.17% | -2.40% | 2.49% | 75.19% |
AZBAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 20, 2023 | $0.079 | OrdinaryDividend |
Dec 20, 2023 | $0.400 | CapitalGainLongTerm |
Dec 21, 2022 | $0.985 | OrdinaryDividend |
Dec 16, 2021 | $3.427 | OrdinaryDividend |
Dec 17, 2020 | $0.024 | OrdinaryDividend |
Dec 19, 2019 | $0.011 | OrdinaryDividend |
Apr 11, 2019 | $0.020 | ExtraDividend |
Apr 11, 2019 | $0.003 | CapitalGainShortTerm |
Dec 20, 2018 | $0.634 | CapitalGainShortTerm |
Dec 20, 2018 | $0.994 | CapitalGainLongTerm |
Dec 21, 2017 | $0.733 | CapitalGainShortTerm |
Dec 21, 2017 | $2.072 | CapitalGainLongTerm |
Mar 13, 2017 | $0.007 | ExtraDividend |
Dec 15, 2016 | $0.006 | CapitalGainLongTerm |
Dec 17, 2015 | $0.092 | OrdinaryDividend |
Dec 10, 2015 | $0.499 | CapitalGainLongTerm |
Dec 18, 2014 | $0.046 | OrdinaryDividend |
Dec 11, 2014 | $0.841 | CapitalGainShortTerm |
Dec 11, 2014 | $0.004 | CapitalGainLongTerm |
Dec 19, 2013 | $0.064 | OrdinaryDividend |
Dec 12, 2013 | $0.116 | CapitalGainShortTerm |
Start Date
Tenure
Tenure Rank
Jul 01, 2013
8.92
8.9%
Mr. Ghosh is a portfolio manager and a managing director with Allianz Global Investors, which he joined in 2006. He is head of the Systematic team. Mr. Ghosh has 17 years of investment-industry experience. He was previously a research associate and portfolio manager for Barclays Global Investors, where he built and implemented models for portfolio management. Before that, Mr. Ghosh was a quantitative analyst for the Cayuga Hedge Fund. He has a B.Tech. from the Indian Institute of Technology, an M.S. in material engineering from the University of British Columbia and an M.B.A. from Cornell University.
Start Date
Tenure
Tenure Rank
Aug 28, 2018
3.76
3.8%
Ms. Yu is a portfolio manager and a managing director with Allianz Global Investors, which she joined in 2003. She has portfolio-management and research responsibilities for the Systematic team. Ms. Yu has 18 years of investment-industry experience. She was previously a risk analyst for Provident Advisors LLC. Ms. Yu has a B.S. from Nanjing University, China, and an M.S. from the University of Southern California and the National University of Singapore. She is a CFA charterholder and was formerly president of the CFA Society San Diego.
Start Date
Tenure
Tenure Rank
Oct 07, 2020
1.65
1.7%
Mr. Parker is a senior portfolio manager, a managing director and CIO Equity US with Allianz Global Investors, which he joined in 1999. He oversees the Small Cap and Systematic Equity teams. Mr. Parker was previously head of the Growth team, and had portfolio-management responsibilities for the Large and Mid Cap Growth products. Mr. Parker has 30 years of investment industry experience. Before joining the firm, he was an assistant portfolio manager at Eagle Asset Management and a senior consultant at Andersen Consulting. Mr. Parker has a B.B.A. from University of Miami and an M.B.A. from Vanderbilt University. He is a CFA charterholder.
Start Date
Tenure
Tenure Rank
Nov 05, 2020
1.57
1.6%
Mr. Phanitsiri is a vice president and portfolio manager on the Global Insights strategy with Allianz Global Investors, which he joined in 2010. He has worked on Global Insights since joining the firm and later became a technology research analyst. He is currently dedicated to the Global Insights portfolio management team. Mr. Phanitsiri has 19 years of investment-industry experience. Mr. Phanitsiri previously worked on private and public equity investments at Sageview Capital and Thoma Bravo Equity Partners. He has a B.S.E. in mechanical and aerospace engineering from Princeton University, and an M.B.A. from Harvard Business School. Mr. Phanitsiri is a CFA charterholder.
Start Date
Tenure
Tenure Rank
Nov 05, 2020
1.57
1.6%
Mr. Dufner is a research analyst and a vice president with Allianz Global Investors, which he joined in 2014. He has portfolio management and research responsibilities for the US Small-Mid Cap team. Prior to joining the team, Mr. Dufner was a member of the firm’s global investment graduate program, conducting research analysis for equity investment teams in San Francisco and Frankfurt, Germany. He has three years of investment-industry experience. Mr. Dufner has a B.S. from the University of Tübingen, Germany, and an M.S. in banking and finance from Stockholm University School of Business, Sweden.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 49.61 | 7.17 | 2.58 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...