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Trending ETFs

Commonwealth Real Estate Securities Fund

mutual fund
CNREX
Payout Change
Suspended
Price as of:
$25.52 -0.16 -0.62%
primary theme
Real Estate Sector Equity
share class
CNREX (Mutual Fund)

Commonwealth Real Estate Securities Fund

Payout Change
Suspended
Price as of:
$25.52 -0.16 -0.62%
primary theme
Real Estate Sector Equity
share class
CNREX (Mutual Fund)

Commonwealth Real Estate Securities Fund

Payout Change
Suspended
Price as of:
$25.52 -0.16 -0.62%
primary theme
Real Estate Sector Equity
share class

Name

As of 10/01/2024

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

$25.52

$15 M

0.00%

2.72%

Vitals

YTD Return

14.1%

1 yr return

42.3%

3 Yr Avg Return

6.6%

5 Yr Avg Return

8.0%

Net Assets

$15 M

Holdings in Top 10

45.3%

52 WEEK LOW AND HIGH

$25.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.72%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 9.00%

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$200

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/01/2024

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

$25.52

$15 M

0.00%

2.72%

CNREX - Profile

Distributions

  • YTD Total Return 14.1%
  • 3 Yr Annualized Total Return 6.6%
  • 5 Yr Annualized Total Return 8.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.66%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Commonwealth Real Estate Securities Fund
  • Fund Family Name
    Commonwealth Intl Series Tr
  • Inception Date
    Jan 05, 2004
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Robert Scharar

Fund Description

Under normal market conditions, the Real Estate Securities Fund invests at least 80% of its net assets in real estate securities. Investments made by the Real Estate Securities Fund are in issuers in real estate and related industries (i.e., those issuers whose fortunes are impacted by the real estate market). The Real Estate Securities Fund invests primarily in equity securities (including common stock and preferred stock and securities convertible into common stock) as well as in the debt securities of companies in real estate industries, which may include commercial and/or residential real estate investment trusts (“REITs”), publicly traded real estate development companies, real estate management companies, building supply companies, timber companies, real property holdings and other publicly-traded companies involved in real estate related activities and industries. The Real Estate Securities Fund may invest in securities denominated in any currency. The Real Estate Securities Fund’s investments may include issuers of any market capitalization. In addition to buying equity and debt securities, the Real Estate Securities Fund may invest in depositary receipts (including American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), and European Depositary Receipts (“EDRs”)). ADRs are dollar-denominated depositary receipts that, typically, are issued by a United States bank or trust company and represent the deposit with that bank or trust company of a security of a foreign issuer. Generally, ADRs are designed for trading on U.S. securities exchanges or other markets. The Fund may also invest in EDRs, GDRs and in similar instruments representing foreign-traded depositary interests in securities of foreign companies. EDRs are receipts issued by a European financial institution evidencing arrangements similar to ADRs. EDRs are generally designed for use in European securities markets. GDRs are receipts for foreign-based corporations that are traded in capital markets around the world. These depositary receipts may be sponsored or unsponsored. The depositary receipts in which the Fund invests are U.S. dollar-denominated.

The Real Estate Securities Fund may invest in shares of other investment companies, including open-end and closed-end funds and exchange-traded funds (“ETFs”). The Real Estate Securities Fund may invest in emerging market countries.

The Real Estate Securities Fund’s investments in debt securities may include obligations of governmental issuers, commercial paper and other companies regardless of credit quality and regardless of whether such securities are rated or unrated by nationally recognized statistical rating organizations (“NRSROs”). The determination as to whether to make a particular investment in debt securities is based on FCA Corp’s, the Real Estate Securities Fund’s investment adviser (“FCA Corp” or the “Adviser”), analysis of the risk of the debt security versus the price and return of such debt security. The Real Estate Securities Fund’s debt investments may include securities that are viewed as being of a credit quality that is below investment-grade (i.e., “junk bonds”) based on ratings established by NRSROs regardless of whether such debt security is rated or not.

The Real Estate Securities Fund may also engage in borrowing for cash management purposes. The Real Estate Securities Fund may borrow to the maximum extent permitted by applicable law, which generally means that the Real Estate Securities Fund may borrow up to one-third of its total assets (including the amount borrowed).

FCA Corp has long-term investment goals and its process seeks to identify potential portfolio investments that can be held over an indefinite time horizon. FCA Corp evaluates its beliefs and adjusts portfolio holdings in light of prevailing market conditions and other factors, including, among other things, economic, political, or market events, changes in relative valuations (to both a company’s growth prospects and to other issuers), and liquidity requirements. In selecting investments for the Fund, FCA Corp will assess factors it deems relevant and applicable under the particular circumstances, including, among others:

Potential for capital appreciation (to both a company’s growth prospects and to other issuers);
Earnings growth potential and/or sustainability;
Price of security relative to historical and/or future cash flow;
Sustainable franchise value;
Price of a security relative to price of underlying stock, if a convertible security;
Yield on security relative to yield of other fixed-income securities;
Interest or dividend income;
Call and/or put features;
Price of a security relative to price of other comparable securities;
Size of issue; and
Impact of security on diversification of the portfolio.

FCA Corp will also seek to sell a security when it believes its price is unlikely to appreciate longer term, other comparable investments offer better opportunities for the Real Estate Securities Fund, or in the course of adjusting the Real Estate Securities Fund’s emphasis(es) on a given sector(s). The Real Estate Securities Fund generally invests in equity securities with the view to hold them long-term and debt securities to hold to maturity.

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CNREX - Performance

Return Ranking - Trailing

Period CNREX Return Category Return Low Category Return High Rank in Category (%)
YTD 14.1% -10.7% 24.2% 22.31%
1 Yr 42.3% -9.2% 44.9% 2.31%
3 Yr 6.6%* -11.1% 6.8% 0.39%
5 Yr 8.0%* -11.4% 16.2% 2.93%
10 Yr 7.0%* -2.3% 15.9% 42.86%

* Annualized

Return Ranking - Calendar

Period CNREX Return Category Return Low Category Return High Rank in Category (%)
2023 23.5% -17.6% 24.6% 1.53%
2022 -24.2% -51.3% 2.7% 14.62%
2021 32.9% -7.7% 52.3% 49.80%
2020 -2.9% -42.2% 35.0% 8.68%
2019 27.6% -0.8% 43.1% 4.29%

Total Return Ranking - Trailing

Period CNREX Return Category Return Low Category Return High Rank in Category (%)
YTD 14.1% -10.7% 24.2% 22.31%
1 Yr 42.3% -9.2% 44.9% 2.31%
3 Yr 6.6%* -11.1% 6.8% 0.39%
5 Yr 8.0%* -11.4% 16.2% 2.93%
10 Yr 7.0%* -2.3% 15.9% 42.86%

* Annualized

Total Return Ranking - Calendar

Period CNREX Return Category Return Low Category Return High Rank in Category (%)
2023 23.5% -14.0% 25.0% 1.53%
2022 -23.8% -40.7% 7.8% 17.31%
2021 33.9% 7.8% 54.6% 77.25%
2020 -2.9% -36.6% 44.3% 26.45%
2019 28.7% 3.4% 46.4% 36.91%

NAV & Total Return History


CNREX - Holdings

Concentration Analysis

CNREX Category Low Category High CNREX % Rank
Net Assets 15 M 1.39 M 61.4 B 95.67%
Number of Holdings 47 22 519 30.92%
Net Assets in Top 10 7.5 M 1.29 M 32.8 B 94.66%
Weighting of Top 10 45.29% 13.2% 90.0% 88.55%

Top 10 Holdings

  1. Tacnoglass, Inc. 6.38%
  2. Lennox International, Inc. 5.99%
  3. James Hardie Industries PLC 5.46%
  4. Iron Mountain, Inc. 4.46%
  5. D.R. Horton, Inc. 4.35%
  6. Federated Hermes Government Obligations Fund 4.32%
  7. Lowe's Cos., Inc. 3.85%
  8. InterContinental Hotels Group PLC 3.73%
  9. Lennar Corp. 3.42%
  10. American Tower Corp. 3.33%

Asset Allocation

Weighting Return Low Return High CNREX % Rank
Stocks
90.98% 0.00% 105.52% 77.10%
Bonds
8.05% -3.17% 155.83% 9.54%
Cash
4.32% -42.50% 19.87% 13.36%
Preferred Stocks
0.00% 0.00% 31.13% 65.65%
Other
0.00% -89.90% 107.80% 64.89%
Convertible Bonds
0.00% 0.00% 10.95% 61.30%

Stock Sector Breakdown

Weighting Return Low Return High CNREX % Rank
Real Estate
58.56% 34.46% 100.00% 97.98%
Consumer Cyclical
15.20% 0.00% 45.29% 2.82%
Basic Materials
13.69% 0.00% 13.69% 0.40%
Industrials
7.39% 0.00% 7.39% 0.40%
Financial Services
4.23% 0.00% 37.05% 4.84%
Consumer Defense
0.93% 0.00% 0.93% 0.40%
Utilities
0.00% 0.00% 3.55% 58.87%
Technology
0.00% 0.00% 12.02% 68.95%
Healthcare
0.00% 0.00% 0.53% 58.87%
Energy
0.00% 0.00% 33.11% 60.08%
Communication Services
0.00% 0.00% 11.61% 63.31%

Stock Geographic Breakdown

Weighting Return Low Return High CNREX % Rank
US
89.98% 0.00% 105.52% 74.81%
Non US
1.00% 0.00% 37.90% 10.69%

Bond Sector Breakdown

Weighting Return Low Return High CNREX % Rank
Cash & Equivalents
4.32% 0.00% 100.00% 16.60%
Derivative
0.00% -0.03% 2.62% 62.16%
Securitized
0.00% 0.00% 96.61% 60.32%
Corporate
0.00% 0.00% 99.81% 66.27%
Municipal
0.00% 0.00% 3.24% 58.73%
Government
0.00% 0.00% 69.19% 59.52%

Bond Geographic Breakdown

Weighting Return Low Return High CNREX % Rank
US
8.05% -3.17% 140.02% 9.54%
Non US
0.00% 0.00% 15.81% 59.92%

CNREX - Expenses

Operational Fees

CNREX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.72% 0.07% 28.75% 11.20%
Management Fee 0.75% 0.00% 1.50% 54.96%
12b-1 Fee 0.25% 0.00% 1.00% 53.91%
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

CNREX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

CNREX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 53.85%

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.

CNREX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 9.00% 0.11% 380.00% 9.88%

CNREX - Distributions

Dividend Yield Analysis

CNREX Category Low Category High CNREX % Rank
Dividend Yield 0.00% 0.00% 13.03% 96.56%

Dividend Distribution Analysis

CNREX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Quarterly

Net Income Ratio Analysis

CNREX Category Low Category High CNREX % Rank
Net Income Ratio -0.66% -1.14% 6.05% 98.46%

Capital Gain Distribution Analysis

CNREX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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CNREX - Fund Manager Analysis

Managers

Robert Scharar


Start Date

Tenure

Tenure Rank

Jan 05, 2004

18.41

18.4%

Scharar is a president and director of FCA Corporation, the firm he established in 1983. He co-founded its predecessor, First Commonwealth Associates in 1975. Previously, Scharar was an accounting professor at Bentley and Nichols Colleges, an officer of the United States Trust Company, and a tax specialist at Coopers & Lybrand. He is a member of the Florida and Massachusetts Bars. Scharar holds the Certified Public Accountant designation. Mr. Scharar is a director and past president of the American Association of Attorney-CPAs. He is a director, manager, and/or officer of the following entities: Blantyre Hotels, Ltd. (Malawi), Africap, LLC, NICO Holdings, Ltd. (Malawi), First Commonwealth Holdings Corporation, First Commonwealth Mortgage Trust, Holly Mortgage Trust, Ivy Realty Trust, Nashville Properties, Inc., subsidiary companies at some of the above, and other closely held FCA advised entities and non-FCA related entities. He received his AA degree from Polk Community College in 1968 and his BS in Accounting from the University of Florida in 1970. He received his MBA and JD from Northeastern University in 1971 and 1974, respectively; and an LLM in Taxation from Boston University Law School in 1979.

Wesley Yuhnke


Start Date

Tenure

Tenure Rank

Jan 05, 2004

18.41

18.4%

Yuhnke currently is an assistant portfolio manager and investment operations manager with FCA Corp, which he joined in May 2002. He was appointed assistant portfolio manager in August 2002. Prior to joining FCA Corp, he attended Stephen F. Austin State University where he received his BBA in Finance. While there he was the recipient of the A.G. Edwards Portfolio Management Award. Mr. Yuhnke earned his MBA with emphasis in Finance from Texas Tech University. He currently serves in a dual role as an Assistant Portfolio Manager to the Funds and Chief Investment Officer of FCA Corp.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 28.42 8.12 2.68