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Callodine Equity Income Series

mutual fund
CEISX
Payout Change
Pending
Price as of:
$15.64 -0.01 -0.06%
primary theme
N/A
CEISX (Mutual Fund)

Callodine Equity Income Series

Payout Change
Pending
Price as of:
$15.64 -0.01 -0.06%
primary theme
N/A
CEISX (Mutual Fund)

Callodine Equity Income Series

Payout Change
Pending
Price as of:
$15.64 -0.01 -0.06%
primary theme
N/A

Name

As of 12/03/2024

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

$15.64

$119 M

1.69%

$0.26

2.72%

Vitals

YTD Return

29.7%

1 yr return

35.5%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$119 M

Holdings in Top 10

58.9%

52 WEEK LOW AND HIGH

$15.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.72%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/03/2024

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

$15.64

$119 M

1.69%

$0.26

2.72%

CEISX - Profile

Distributions

  • YTD Total Return 29.7%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 1.7%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Callodine Equity Income Series
  • Fund Family Name
    N/A
  • Inception Date
    Nov 22, 2023
  • Shares Outstanding
    N/A
  • Share Class
    S
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Series will, under normal circumstances, invest at least 80% of its net assets, plus borrowings for investment purposes, in equity securities and equity-related instruments. For purposes of the Series’ 80% investment policy, equity securities and equity-related instruments include common stock, preferred stock convertible into common stock, securities convertible into common and preferred stock, non-convertible preferred stock, sponsored American depositary receipts (“ADRs”), securities of master limited partnerships (“MLPs”), business development companies (“BDCs”), and real estate investment trusts (“REITs”). These equity investments may be in issuers involved in special situations, such as companies involved in initial public offerings, tender offers, mergers and other corporate restructurings or management changes. The Series’ investments in preferred stock and securities convertible into common and preferred stock may include investments in any company, market or sector, consistent with the Series’ investment strategies. In addition, the

Series may invest up to 20% of its assets in options to enhance returns, and in fixed-income securities, including distressed debt, convertible bonds, short duration government bonds, money market funds, and corporate bonds. The Series may invest in fixed income securities, including corporate bonds and convertible bonds, with any credit rating, including high yield (“junk bonds”) or, if unrated, determined by Callodine Capital Management, LP (“Callodine” or “Sub-Advisor”), the Sub-Advisor of the Series, to be of comparable quality.

Callodine expects to use both bottom up (individual company analysis) and top-down (macro-economic and market-project strategy selection) approaches to its investment selections. The Series will seek to invest in dividend paying equity securities from companies that Callodine believes are fundamentally undervalued. Such companies may be undervalued due to a variety of reasons, including perception of unfavorable industry dynamics, poor short-term business performance due to cyclical or company specific factors, short term dislocations in capital flows to a specific sector or sub-sector or changes in management. Callodine believes that these conditions may result in fundamentally viable businesses being available at depressed valuations.

In general, the Series may invest in a portfolio of 15-30 positions. Due to the focused nature of its investment strategies, the Series is considered to be non-diversified. The Series may invest in companies in any sector and of any market capitalization and may invest in both U.S. and non-U.S. issuers. At times, the Series may focus its investments in one or more sectors or geographies. In addition, the Series may engage in active and frequent trading of portfolio securities to achieve its investment strategies.

Callodine monitors the Series’ investments for ongoing risk and return considerations. Callodine may consider selling a security if:

it no longer fits the Series’ investment strategies, valuation discipline or risk and return criteria;

it has reached Callodine’s target sell price (which is periodically re-evaluated); or

a more attractive investment opportunity is identified.

The Series’ investment objective is to seek to provide strong risk-adjusted total returns with low market correlation and preservation of capital. This means the Series seeks to provide strong risk-adjusted total returns in the income-producing part of the equity market by investing in companies with cash yielding securities that are fundamentally undervalued due to a variety of reasons. Such companies may offer sound businesses and investment opportunities available at depressed valuations and with lower correlation to the performance of the broader equity markets.

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CEISX - Performance

Return Ranking - Trailing

Period CEISX Return Category Return Low Category Return High Rank in Category (%)
YTD 29.7% N/A N/A N/A
1 Yr 35.5% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period CEISX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period CEISX Return Category Return Low Category Return High Rank in Category (%)
YTD 29.7% N/A N/A N/A
1 Yr 35.5% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period CEISX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A N/A N/A N/A
2022 N/A N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

NAV & Total Return History


CEISX - Holdings

Concentration Analysis

CEISX Category Low Category High CEISX % Rank
Net Assets 119 M N/A N/A N/A
Number of Holdings 26 N/A N/A N/A
Net Assets in Top 10 70.3 M N/A N/A N/A
Weighting of Top 10 58.94% N/A N/A N/A

Top 10 Holdings

  1. Wolverine World Wide Inc 8.77%
  2. Spectrum Brands Holdings Inc 7.98%
  3. Energy Transfer LP 6.40%
  4. Baxter International Inc 6.37%
  5. Viatris Inc 5.36%
  6. Blue Owl Capital Inc 5.28%
  7. GSK PLC 5.14%
  8. Sanofi SA 4.59%
  9. Algonquin Power Utilities Corp 4.57%
  10. MT Bank Corp 4.48%

Asset Allocation

Weighting Return Low Return High CEISX % Rank
Stocks
96.60% N/A N/A N/A
Cash
3.40% N/A N/A N/A
Preferred Stocks
0.00% N/A N/A N/A
Other
0.00% N/A N/A N/A
Convertible Bonds
0.00% N/A N/A N/A
Bonds
0.00% N/A N/A N/A

Stock Sector Breakdown

Weighting Return Low Return High CEISX % Rank
Utilities
0.00% N/A N/A N/A
Technology
0.00% N/A N/A N/A
Real Estate
0.00% N/A N/A N/A
Industrials
0.00% N/A N/A N/A
Healthcare
0.00% N/A N/A N/A
Financial Services
0.00% N/A N/A N/A
Energy
0.00% N/A N/A N/A
Communication Services
0.00% N/A N/A N/A
Consumer Defense
0.00% N/A N/A N/A
Consumer Cyclical
0.00% N/A N/A N/A
Basic Materials
0.00% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High CEISX % Rank
US
93.01% N/A N/A N/A
Non US
3.59% N/A N/A N/A

CEISX - Expenses

Operational Fees

CEISX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.72% N/A N/A N/A
Management Fee 0.70% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

CEISX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

CEISX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 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.

CEISX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

CEISX - Distributions

Dividend Yield Analysis

CEISX Category Low Category High CEISX % Rank
Dividend Yield 1.69% N/A N/A N/A

Dividend Distribution Analysis

CEISX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly

Net Income Ratio Analysis

CEISX Category Low Category High CEISX % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

CEISX Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

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CEISX - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A