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 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
16.1%
1 yr return
24.7%
3 Yr Avg Return
11.9%
5 Yr Avg Return
18.6%
Net Assets
$415 M
Holdings in Top 10
42.0%
Expense Ratio 1.08%
Front Load N/A
Deferred Load N/A
Turnover 86.00%
Redemption Fee 2.00%
Standard (Taxable)
$250,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The investment objective of the Fund is to seek long-term growth of capital. This investment objective may be changed without shareholder approval. The Fund is a diversified fund that normally invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities of large capitalization U.S. companies. U.S. companies, for this purpose, consist of those companies that: (i) are incorporated in the U.S.; and (ii) list their common stock on, and principally trade on, the New York Stock Exchange (“NYSE”) (including NYSE Arca and NYSE American), the NASDAQ Global Select Market, the NASDAQ Select Market, or the NASDAQ Capital Market. The 80% portion of the Fund’s portfolio consists of investments in U.S. companies that are members of the S&P 500 Index or possess similar minimum market capitalization and trading volume attributes.1 The Fund’s common stock investments may include exchange-listed equities from companies across various sectors and industries. The remaining 20% of the Fund’s net assets, plus borrowings for investment purposes, may include small-cap and mid-cap companies, preferred stock, exchange-traded funds (“ETFs”), and preferred stock.
1 | Under current S&P Dow Jones Indices market capitalization guidelines, companies are required to have a market value of at least $15.8 billion for listing in the S&P 500 Index. S&P Dow Jones Indices typically makes adjustments to its benchmark indexes on an annual basis. |
In selecting investments for the Fund, the Adviser utilizes a “bottom-up” fundamental stock selection process that the Adviser believes yields a more accurate picture of a company’s intrinsic value. The Adviser analyzes a variety of factors when selecting investments for the Fund, such as a company’s operations, risk profile, growth expectations and valuation of its securities. The Adviser utilizes a disciplined, Economic Value Added2 framework to select investments. The framework focuses on the fundamentals of shareholder wealth creation and wealth destruction similar to the way a traditional, long-term focused corporate investor looking at all aspects of the business would assess a company’s value. In the shorter-term, markets often undervalue or overvalue a company’s ability to create or destroy shareholder wealth. The framework seeks to identify and exploit these investment opportunities. The approach is designed to capture excess returns when the market price of a stock converges toward the Adviser’s target price.
In determining whether a particular company or security may be a suitable investment for the Fund, the Adviser may focus on any number of different attributes that may include, without limitation: the company’s ability to generate favorable returns in light of current growth prospects, market position and expertise, brand value, pricing power, measures of financial strength (e.g., strong balance sheet), profit margin changes, return on capital improvement, sustainability of revenue growth, ability to generate cash flow, strong management, commitment to shareholders’ interests, dividends or current income, market share gains, innovation and reinvestment, corporate governance and other indications that a company or a security may be an attractive investment. Lastly, the Adviser integrates security selection with appropriate stock position sizing (determining the appropriate percentage of the Fund’s assets to commit to a particular investment) in order to maximize return relative to risk. The Adviser may sell or reduce the Fund’s position in a security when the facts or analysis surrounding the reasons for investing in the security have changed.
The Fund may purchase or sell exchange-traded derivative products, such as exchange-traded futures and options, for capital preservation, enhancement of returns, temporary cash management, or investment transition purposes. For example, the Adviser may utilize exchange-traded futures and options to hedge the risks of existing stock positions in the Fund’s portfolio against significant equity market declines that may occur over short periods of time. Such capital protection strategies will be used tactically when the Adviser’s current assessment of market valuation indicates forward returns as low relative to downside risk and the cost to upside potential from utilizing portfolio preservation tools reasonable. A protective put option strategy, when tactically employed, is executed using exchange-traded put options on U.S. large capitalization Indices such as the S&P 500 Index to hedge the portfolio and to reduce volatility. Generally, S&P 500 Index put options and others have an inverse relationship to their underlying Index level, meaning that the value of an index put option generally increases as the underlying securities in the Fund decrease in price and decreases as those securities increase in price. The Adviser may also seek to enhance returns by writing (selling) out of the money call options tailored with exercise prices generally above the current market prices of stocks held in the Fund or on U.S. large capitalization Indices such as the S&P 500 Index at the time of the call sale. As the seller of the call option, the Fund receives cash (the premium) from the purchaser. Furthermore, the Fund may also invest in S&P 500 Index futures to increase the Fund’s overall market exposure following cash inflows from new investments in the Fund.
2 | Economic Value Added (EVA) is an estimate of a company’s economic profit. Economic profit, which refers to the profit earned by a company, minus the cost of financing the company’s capital, is an amount that may be considered in the assessment of a company’s overall value. |
The Fund generally maintains a fully-invested posture. As such, cash is typically held to a minimum. However, significant investor inflows may temporarily increase cash positions. The Fund may also, under unusual circumstances, take temporary defensive positions and hold up to 100% of its portfolio in cash or cash equivalent positions. The Fund may engage in frequent or active trading depending on market conditions, resulting in a high portfolio turnover rate. A high portfolio turnover rate may result in increased transaction costs, including brokerage commissions, which must be borne by the Fund and its shareholders, and is also likely to result in higher short-term capital gains for taxable shareholders. These costs are not reflected in annual fund operating expenses or in the expense example above, but are reflected in the Fund’s performance.
Period | DHANX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 16.1% | 4.3% | 35.1% | 80.49% |
1 Yr | 24.7% | 8.3% | 58.2% | 93.76% |
3 Yr | 11.9%* | -10.6% | 17.1% | 8.36% |
5 Yr | 18.6%* | -7.8% | 111.2% | 1.67% |
10 Yr | 13.1%* | 0.0% | 52.7% | 18.47% |
* Annualized
Period | DHANX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.4% | -42.6% | 47.4% | 76.22% |
2022 | -4.2% | -56.3% | -4.2% | 0.08% |
2021 | 10.5% | -27.2% | 537.8% | 75.27% |
2020 | 25.6% | -22.5% | 2181.7% | 0.95% |
2019 | 6.5% | -13.5% | 40.4% | 97.01% |
Period | DHANX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 16.1% | 4.3% | 35.1% | 80.49% |
1 Yr | 24.7% | 8.3% | 58.2% | 93.76% |
3 Yr | 11.9%* | -10.6% | 17.1% | 8.36% |
5 Yr | 18.6%* | -7.8% | 111.2% | 1.67% |
10 Yr | 13.1%* | 0.0% | 52.7% | 18.47% |
* Annualized
Period | DHANX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 15.3% | -5.0% | 47.4% | 87.18% |
2022 | -2.8% | -36.8% | -2.2% | 0.41% |
2021 | 28.0% | 3.0% | 537.8% | 32.86% |
2020 | 31.4% | -15.8% | 2266.0% | 0.95% |
2019 | 17.1% | -0.4% | 241.3% | 98.82% |
DHANX | Category Low | Category High | DHANX % Rank | |
---|---|---|---|---|
Net Assets | 415 M | 2.34 M | 1.55 T | 71.12% |
Number of Holdings | 41 | 2 | 4002 | 88.83% |
Net Assets in Top 10 | 166 M | 979 K | 517 B | 70.79% |
Weighting of Top 10 | 41.96% | 0.3% | 112.9% | 24.53% |
Weighting | Return Low | Return High | DHANX % Rank | |
---|---|---|---|---|
Stocks | 99.78% | 0.00% | 105.85% | 15.94% |
Cash | 0.22% | 0.00% | 99.07% | 77.83% |
Preferred Stocks | 0.00% | 0.00% | 2.53% | 52.99% |
Other | 0.00% | -13.91% | 100.00% | 63.75% |
Convertible Bonds | 0.00% | 0.00% | 5.54% | 50.49% |
Bonds | 0.00% | 0.00% | 94.06% | 54.21% |
Weighting | Return Low | Return High | DHANX % Rank | |
---|---|---|---|---|
Basic Materials | 25.70% | 0.00% | 25.70% | 0.08% |
Energy | 23.87% | 0.00% | 41.64% | 0.16% |
Technology | 18.90% | 0.00% | 48.94% | 78.75% |
Communication Services | 7.41% | 0.00% | 27.94% | 65.24% |
Consumer Cyclical | 6.85% | 0.00% | 30.33% | 87.56% |
Industrials | 5.31% | 0.00% | 29.90% | 95.96% |
Consumer Defense | 5.00% | 0.00% | 47.71% | 85.17% |
Financial Services | 4.50% | 0.00% | 55.59% | 98.02% |
Healthcare | 2.44% | 0.00% | 60.70% | 99.59% |
Utilities | 0.00% | 0.00% | 20.91% | 92.50% |
Real Estate | 0.00% | 0.00% | 31.91% | 93.41% |
Weighting | Return Low | Return High | DHANX % Rank | |
---|---|---|---|---|
US | 99.78% | 0.00% | 105.85% | 14.16% |
Non US | 0.00% | 0.00% | 64.54% | 60.44% |
DHANX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.08% | 0.01% | 19.75% | 30.70% |
Management Fee | 0.75% | 0.00% | 1.90% | 89.02% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.85% | N/A |
DHANX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
DHANX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 0.25% | 2.00% | 28.21% |
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.
DHANX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 86.00% | 0.00% | 268.00% | 89.00% |
DHANX | Category Low | Category High | DHANX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.02% | 0.00% | 25.47% | 35.44% |
DHANX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Quarterly | Annual |
DHANX | Category Low | Category High | DHANX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.65% | -54.00% | 2.44% | 52.81% |
DHANX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 28, 2023 | $0.182 | OrdinaryDividend |
Dec 28, 2023 | $0.217 | CapitalGainLongTerm |
Dec 28, 2022 | $0.202 | OrdinaryDividend |
Dec 29, 2021 | $2.309 | OrdinaryDividend |
Dec 30, 2020 | $0.597 | OrdinaryDividend |
Dec 30, 2019 | $0.032 | OrdinaryDividend |
Dec 30, 2019 | $0.040 | CapitalGainShortTerm |
Dec 30, 2019 | $0.959 | CapitalGainLongTerm |
Dec 28, 2018 | $0.039 | CapitalGainShortTerm |
Dec 28, 2018 | $2.122 | CapitalGainLongTerm |
Dec 28, 2017 | $0.025 | CapitalGainShortTerm |
Dec 28, 2017 | $1.436 | CapitalGainLongTerm |
Dec 28, 2017 | $0.157 | OrdinaryDividend |
Dec 29, 2016 | $0.149 | CapitalGainLongTerm |
Dec 29, 2016 | $0.288 | OrdinaryDividend |
Dec 30, 2015 | $1.205 | CapitalGainLongTerm |
Dec 30, 2015 | $0.026 | OrdinaryDividend |
Dec 18, 2014 | $0.169 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Dec 21, 2011
10.45
10.5%
James A. Abate, MBA, CPA, CFA, is the Managing Director and Chief Investment Officer of Centre Asset Management and is responsible for the firm's American Select Equity and Global Listed Infrastructure strategies. Prior to founding Centre, he was US Investment Director for GAM. Previously, he served as Managing Director/Fund Manager at Credit Suisse Asset Management responsible for the US Select Equity strategy and the firm's global sector funds. Previously, he was a Manager in Price Waterhouse's Valuation/Corporate Finance Group and also served as a commissioned officer in the US Army.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 39.02 | 7.24 | 2.42 |
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...