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Trending ETFs

City National Rochdale Short Term Emerging Markets Debt Fund

mutual fund
CNRGX
Payout Change
Pending
Price as of:
$8.03 +0.0 +0.0%
primary theme
N/A
share class
CNRGX (Mutual Fund)

City National Rochdale Short Term Emerging Markets Debt Fund

Payout Change
Pending
Price as of:
$8.03 +0.0 +0.0%
primary theme
N/A
share class
CNRGX (Mutual Fund)

City National Rochdale Short Term Emerging Markets Debt Fund

Payout Change
Pending
Price as of:
$8.03 +0.0 +0.0%
primary theme
N/A
share class

Name

As of 11/17/2021

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

$8.03

$212 M

1.48%

$0.12

0.93%

Vitals

YTD Return

-10.3%

1 yr return

13.8%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$212 M

Holdings in Top 10

93.9%

52 WEEK LOW AND HIGH

$8.0
$7.70
$9.05

Expenses

OPERATING FEES

Expense Ratio 0.93%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 129.00%

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 11/17/2021

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

$8.03

$212 M

1.48%

$0.12

0.93%

CNRGX - Profile

Distributions

  • YTD Total Return -10.3%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 10.00%
DIVIDENDS
  • Dividend Yield 1.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    City National Rochdale Short Term Emerging Markets Debt Fund
  • Fund Family Name
    City National Rochdale
  • Inception Date
    May 14, 2019
  • Shares Outstanding
    26383585
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Thomas Ehrlein

Fund Description

At least 80% of the Short Term Emerging Markets Debt Fund’s net assets (plus any borrowings for investment purposes) consists of bonds and other debt instruments issued by corporate, municipal, sovereign, sub-sovereign and quasi-sovereign issuers in emerging market countries. In particular, the Fund invests principally in short-term high yield debt instruments (also known as “junk bonds”) of corporate and sovereign issuers in or operating principally in emerging market countries. The Fund’s investments in securities of emerging market issuers may include securities of companies operating principally in frontier markets. Although there is no minimum amount of the Fund’s assets that is required to be invested in frontier market issuers, the Fund expects such investments will not typically exceed 15% of its net assets.

The Fund considers a company to be operating principally in an emerging market or frontier market country if (i) the company is incorporated or has its principal business activities in such a country, or (ii) the company derives 50% or more of its revenues from, or has 50% or more of its assets in, such a country. The Fund considers a country to be an emerging market country if it has been determined by an international organization, such as the World Bank, to have a low to middle income economy, or if it is included in the MSCI Emerging Markets Index. The Fund considers a country to be a frontier market country if it is included in the MSCI Frontier Markets Index. The Fund principally invests in U.S. dollar denominated securities, although it may invest in securities denominated in currencies of other developed markets or in local currencies of emerging and frontier market countries. The Fund may use foreign currency forward contracts to attempt to hedge against adverse changes in currency exchange rates.

The Fund’s investment strategy is to invest in corporate bonds and debentures, convertible debt securities (securities that may be exchanged, at the option of the holder, for equity securities), preferred securities, zero coupon obligations and debt securities that are issued by foreign issuers, including municipal and sovereign governments. The Fund’s sub-adviser seeks to invest in securities that offer a high risk-adjusted current yield as well as total return potential. In an effort to control risks, the sub-adviser purchases investments diversified across issuers and industries. The average maturity of the Fund’s investments varies, and generally the Fund will invest in bonds with maturities of no greater than two years. The Fund has no restrictions on individual security or portfolio duration. The Fund invests in fixed income securities rated at least B- by Standard & Poor’s Ratings Services, at least B3 by Moody’s Investors Service or at least B- by Fitch Ratings Inc. at the time of investment, or, if unrated, determined by the Fund’s investment adviser, City National Rochdale, LLC (the “Adviser”), or sub-adviser to be of comparable quality. The Fund may also invest up to 10% of its net assets in securities and debt of distressed issuers, provided that the sub-adviser believes there is a strong likelihood of repayment. Although the Fund’s sub-adviser considers credit ratings in selecting investments for the Fund, the sub-adviser bases its investment decision for a particular instrument primarily on its own credit analysis and not on a credit rating by a nationally recognized statistical rating organization. The sub-adviser considers, among other things, the issuer’s financial resources and operating history, its sensitivity to economic conditions and trends, its debt maturity schedules and borrowing requirements, and relative values based on anticipated cash flow, interest and asset coverage. The Fund may retain a security after it has been downgraded to any rating below the minimum credit ratings if the Adviser or sub-adviser determines that doing so is in the best interests of the Fund.

The Fund accepted investments until January 10, 2020. After that date, the Fund closed to all investments by investors. Beginning shortly after the Fund closed to investment, the Adviser and sub-adviser intend to generally make no new portfolio investments for the Fund. During the investment period the Adviser and sub-adviser intended to invest the Fund’s assets pursuant to the Fund’s principal investment strategies in securities with stated maturities of two years or less, which securities are intended to generate steady cash flows and principal repayments over such two-year period. The Adviser and sub-adviser intend to distribute over that two-year period recognized income and return of capital (i.e., principal repayments in respect of securities) to shareholders on a monthly basis. Generally, the Adviser and sub-adviser expect the Fund to hold each portfolio investment until maturity, although the sub-adviser may sell a security in certain circumstances including to reduce or eliminate the Fund’s holding in that security, to take advantage of what it believes are more attractive investment opportunities, or to raise cash to meet redemption requests. If the Fund sells a security, the Fund may invest in another security, which generally will have a stated maturity equal to or less than the stated maturity of the security sold by the Fund. The Adviser and sub-adviser expect that the Fund will liquidate approximately 2 ½ years after the Fund’s inception date of May 14, 2019.

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CNRGX - Performance

Return Ranking - Trailing

Period CNRGX Return Category Return Low Category Return High Rank in Category (%)
YTD -10.3% -58.7% 15.1% 79.72%
1 Yr 13.8% -12.5% 18.3% 1.36%
3 Yr N/A* -6.2% 10.6% N/A
5 Yr N/A* -2.9% 8.1% N/A
10 Yr N/A* -2.3% 7.1% N/A

* Annualized

Return Ranking - Calendar

Period CNRGX Return Category Return Low Category Return High Rank in Category (%)
2023 -10.2% -20.2% 99.4% 96.58%
2022 N/A -9.9% 13.5% N/A
2021 N/A -31.2% 73.9% N/A
2020 N/A -9.1% 14.2% N/A
2019 N/A -9.2% 219.0% N/A

Total Return Ranking - Trailing

Period CNRGX Return Category Return Low Category Return High Rank in Category (%)
YTD -10.3% -58.7% 15.1% 80.00%
1 Yr 13.8% -13.3% 18.3% 1.36%
3 Yr N/A* -6.3% 10.6% N/A
5 Yr N/A* -2.9% 8.1% N/A
10 Yr N/A* -2.3% 6.9% N/A

* Annualized

Total Return Ranking - Calendar

Period CNRGX Return Category Return Low Category Return High Rank in Category (%)
2023 -10.2% -20.2% 99.4% 96.58%
2022 N/A -9.9% 17.3% N/A
2021 N/A -31.2% 0.7% N/A
2020 N/A 0.0% 17.0% N/A
2019 N/A -9.2% 242.1% N/A

NAV & Total Return History


CNRGX - Holdings

Concentration Analysis

CNRGX Category Low Category High CNRGX % Rank
Net Assets 212 M 67.2 K 19.6 B 50.80%
Number of Holdings 18 3 1630 97.57%
Net Assets in Top 10 211 M -117 M 1.67 B 14.59%
Weighting of Top 10 93.90% 0.8% 99.9% 0.82%

Top 10 Holdings

  1. SEI Government F (SDIT) 57.39%
  2. Telecomm Argentina SA 6.5% 8.71%
  3. Vedanta Resources plc 8.25% 6.43%
  4. Georgian Oil and Gas Corporation JSC 6.75% 5.91%
  5. Eldorado International Finance GMBH 8.62% 5.86%
  6. Sri Lanka (Democratic Socialist Republic of) 6.25% 5.77%
  7. Global Prime Capital Pte. Ltd. 7.25% 5.49%
  8. Lao Peoples's Democratic Republic 6.88% 5.35%
  9. HT Global IT Solutions Holdings Ltd 7% 5.11%
  10. YPF Sociedad Anonima 8.5% 4.94%

Asset Allocation

Weighting Return Low Return High CNRGX % Rank
Cash
72.42% -32.41% 101.56% 2.43%
Bonds
23.22% 0.00% 126.25% 97.84%
Convertible Bonds
4.36% 0.00% 14.37% 3.51%
Stocks
0.00% -0.06% 0.84% 96.49%
Preferred Stocks
0.00% 0.00% 0.00% 98.11%
Other
0.00% -2.27% 7.93% 90.81%

CNRGX - Expenses

Operational Fees

CNRGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.93% 0.02% 3.87% 50.68%
Management Fee 0.50% 0.00% 1.50% 13.30%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.65% N/A

Sales Fees

CNRGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

CNRGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 0.75% 2.00% 75.00%

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.

CNRGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 129.00% 0.00% 302.00% 89.47%

CNRGX - Distributions

Dividend Yield Analysis

CNRGX Category Low Category High CNRGX % Rank
Dividend Yield 1.48% 0.00% 2.05% 98.14%

Dividend Distribution Analysis

CNRGX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Annually

Net Income Ratio Analysis

CNRGX Category Low Category High CNRGX % Rank
Net Income Ratio 10.00% -2.36% 10.00% 0.27%

Capital Gain Distribution Analysis

CNRGX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

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CNRGX - Fund Manager Analysis

Managers

Thomas Ehrlein


Start Date

Tenure

Tenure Rank

Dec 24, 2018

2.85

2.9%

Thomas H. Ehrlein joined the former Rochdale Investment Management (predecessor to City National Rochdale) in 2005. He oversees a number of business segments at the firm including investment oversight for all non-traditional investments and the portfolio analytics and modeling processes,and is the Portfolio Manager of the City National Rochdale High Yield Alternative Strategies Fund. Mr. Ehrlein is also a key member of the asset allocation committee at City National Rochdale. He has been in the Investment Management industry since 2000. Prior to 2005, Mr. Ehrlein was a Senior Consultant in the Investment Management division of FactSet Research Systems, Inc., where he performed financial market and portfolio management research and quantitative analysis for institutional money management firms, and a middle market lending credit analyst at ABN-Amro, North America. Mr. Ehrlein earned his BS in Finance from the University of Scranton and his MBA in Finance from Hofstra University.

Charles Luke


Start Date

Tenure

Tenure Rank

May 31, 2020

1.42

1.4%

Charles Luke is a Senior Investment Director on the UK and European equities team having joined Aberdeen in 2000. Charles started his career at Framlington Investment Management in 1998, covering UK equities. Charles graduated with a BA in Economics and Japanese Studies from Leeds University and an MSc in Business and Economic History from the London School of Economics."

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 23.29 5.87 5.53