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 12/06/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
28.5%
1 yr return
35.1%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$119 M
Holdings in Top 10
58.9%
Expense Ratio 2.63%
Front Load N/A
Deferred Load N/A
Turnover N/A
Redemption Fee N/A
Standard (Taxable)
N/A
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/06/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
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.
Period | CEIZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 28.5% | N/A | N/A | N/A |
1 Yr | 35.1% | 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
Period | CEIZX 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 |
Period | CEIZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 28.5% | N/A | N/A | N/A |
1 Yr | 35.1% | 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
Period | CEIZX 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 |
CEIZX | Category Low | Category High | CEIZX % 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 |
Weighting | Return Low | Return High | CEIZX % 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 |
Weighting | Return Low | Return High | CEIZX % 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 |
Weighting | Return Low | Return High | CEIZX % Rank | |
---|---|---|---|---|
US | 93.01% | N/A | N/A | N/A |
Non US | 3.59% | N/A | N/A | N/A |
CEIZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.63% | 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 |
CEIZX 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 |
CEIZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
CEIZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | N/A | N/A | N/A |
CEIZX | Category Low | Category High | CEIZX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.90% | N/A | N/A | N/A |
CEIZX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly |
CEIZX | Category Low | Category High | CEIZX % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | N/A | N/A | N/A |
CEIZX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
Date | Amount | Type |
---|---|---|
Sep 12, 2024 | $0.074 | OrdinaryDividend |
Mar 13, 2024 | $0.031 | OrdinaryDividend |
Dec 13, 2023 | $0.105 | OrdinaryDividend |
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