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Trending ETFs

Davenport Value & Income Fund

mutual fund
DVIPX
Payout Change
Pending
Price as of:
$20.11 +0.09 +0.45%
primary theme
U.S. Large-Cap Value Equity
share class
DVIPX (Mutual Fund)

Davenport Value & Income Fund

Payout Change
Pending
Price as of:
$20.11 +0.09 +0.45%
primary theme
U.S. Large-Cap Value Equity
share class
DVIPX (Mutual Fund)

Davenport Value & Income Fund

Payout Change
Pending
Price as of:
$20.11 +0.09 +0.45%
primary theme
U.S. Large-Cap Value Equity
share class

Name

As of 10/04/2024

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

$20.11

$899 M

1.52%

$0.31

0.87%

Vitals

YTD Return

16.1%

1 yr return

26.8%

3 Yr Avg Return

5.1%

5 Yr Avg Return

8.5%

Net Assets

$899 M

Holdings in Top 10

30.9%

52 WEEK LOW AND HIGH

$20.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.87%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 20.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000

IRA

$2,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/04/2024

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

$20.11

$899 M

1.52%

$0.31

0.87%

DVIPX - Profile

Distributions

  • YTD Total Return 16.1%
  • 3 Yr Annualized Total Return 5.1%
  • 5 Yr Annualized Total Return 8.5%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 1.46%
DIVIDENDS
  • Dividend Yield 1.5%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Davenport Value & Income Fund
  • Fund Family Name
    Davenport
  • Inception Date
    Dec 31, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Ackerly

Fund Description

Under normal circumstances, the Value & Income Fund will invest primarily in common stocks of companies that have established business models, attractive valuations, a history of dividend payment and growth, and/or dividend growth potential. Davenport & Company LLC (the “Adviser”) seeks to identify companies that may be undervalued because they are currently out of favor with the market or temporarily misunderstood by the investment community. The Adviser will assess the sustainability of a company’s dividend payments by analyzing its dividend history, its competitive position and industry dynamics. The Adviser uses a “bottom-up” stock selection approach that focuses primarily on individual companies in the context of broader market factors. In selecting investments for the Fund, the Adviser will focus on companies that exhibit one or more of the following characteristics:

attractive valuation based on intrinsic, absolute and relative value
attractive dividend yield
history of growing dividends with the likelihood of sustainable dividend growth
an attractive business model, sound balance sheet and a disciplined management team

The Adviser attempts to control risk through diversification among major market sectors, but may overweight a position or a sector that is believed to have favorable prospects. The Adviser does not limit the Fund to any particular market capitalization. At any time, the Fund may invest a portion of its assets in small, unseasoned companies.

The Fund may invest in special situation companies facing near-term headwinds but with favorable prospects for recovery. Special situations may include significant changes in a company’s allocation of its existing capital (companies undergoing turnarounds, spin-offs, mergers or acquisitions) or a restructuring of assets. Special situations may also result from significant changes to an industry through regulatory developments or shifts in competition, new or improved products, changes in senior management or significant changes in cost structure.

The Fund may invest in shares of exchange traded funds (“ETFs”) to increase the Fund’s exposure to the broad market or to industry sectors without purchasing a large number of individual securities. Such ETFs will typically hold a portfolio of securities designed to track the performance of a particular index or market sector. ETFs differ from traditional mutual funds since their shares are listed on a securities exchange and can be traded intraday. When the Fund invests in an ETF, Fund shareholders will indirectly pay a proportionate share of the management fee and operating expenses of the ETF, in addition to the Fund’s direct fees and expenses. The Fund may invest up to 20% of its net assets in ETFs.

The Fund may invest up to 30% of its net assets in common stocks of foreign issuers when, in the Adviser’s opinion, such investments would be advantageous to the Fund and help it achieve its investment objective. The Fund may invest in ETFs that invest primarily in common stocks of foreign companies, including regional and/or country specific ETFs.

A security will be sold when the Adviser believes the security no longer has the potential for capital appreciation, when it meets its targeted price, when the fundamentals of the issuer’s business or general market conditions have changed, when more attractive opportunities become available, or when strong performance has resulted in an outsized position for the security within the Fund’s portfolio.

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DVIPX - Performance

Return Ranking - Trailing

Period DVIPX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.1% -99.4% 35.8% 48.67%
1 Yr 26.8% -99.3% 62.0% 68.50%
3 Yr 5.1%* -81.0% 33.3% 93.23%
5 Yr 8.5%* -62.1% 46.1% 91.01%
10 Yr 8.2%* -36.8% 25.4% 77.76%

* Annualized

Return Ranking - Calendar

Period DVIPX Return Category Return Low Category Return High Rank in Category (%)
2023 6.6% -16.9% 46.1% 43.66%
2022 -17.4% -64.7% 4.6% 85.74%
2021 17.9% -44.2% 57.5% 44.15%
2020 -3.3% -23.2% 285.0% 73.65%
2019 20.3% -21.4% 48.5% 40.69%

Total Return Ranking - Trailing

Period DVIPX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.1% -99.4% 35.8% 48.67%
1 Yr 26.8% -99.3% 62.0% 68.50%
3 Yr 5.1%* -81.0% 33.3% 93.23%
5 Yr 8.5%* -62.1% 46.1% 91.01%
10 Yr 8.2%* -36.8% 25.4% 77.76%

* Annualized

Total Return Ranking - Calendar

Period DVIPX Return Category Return Low Category Return High Rank in Category (%)
2023 8.5% -15.9% 46.7% 72.33%
2022 -12.9% -42.0% 8.5% 93.38%
2021 23.4% 3.6% 129.7% 77.93%
2020 1.9% -22.6% 304.8% 59.69%
2019 25.1% -12.7% 52.1% 56.17%

NAV & Total Return History


DVIPX - Holdings

Concentration Analysis

DVIPX Category Low Category High DVIPX % Rank
Net Assets 899 M 1.94 M 163 B 50.50%
Number of Holdings 45 2 1733 83.96%
Net Assets in Top 10 261 M 433 K 37.8 B 50.41%
Weighting of Top 10 30.93% 4.4% 99.1% 36.91%

Top 10 Holdings

  1. NextEra Energy, Inc. 3.66%
  2. Johnson Johnson 3.40%
  3. L3Harris Technologies, Inc. 3.18%
  4. Elevance Health Incorporated 3.06%
  5. Oracle Corporation 3.05%
  6. Fairfax Financial Holdings Ltd. (Canada) 3.00%
  7. Lamar Advertising Company Class A 2.92%
  8. Alphabet, Inc. Class A 2.91%
  9. Philip Morris International, Inc. 2.90%
  10. Anheuser-Busch InBev S.A./N.V. ADR 2.85%

Asset Allocation

Weighting Return Low Return High DVIPX % Rank
Stocks
97.42% 7.19% 103.40% 69.11%
Cash
2.58% 0.00% 36.15% 25.57%
Preferred Stocks
0.00% 0.00% 15.27% 52.43%
Other
0.00% -2.19% 36.68% 60.49%
Convertible Bonds
0.00% 0.00% 3.66% 49.54%
Bonds
0.00% 0.00% 78.06% 51.97%

Stock Sector Breakdown

Weighting Return Low Return High DVIPX % Rank
Financial Services
20.06% 0.00% 58.05% 41.26%
Industrials
14.08% 0.00% 42.76% 18.78%
Consumer Defense
13.88% 0.00% 34.10% 10.64%
Real Estate
10.59% 0.00% 90.54% 1.67%
Healthcare
9.76% 0.00% 30.08% 94.17%
Energy
7.91% 0.00% 54.00% 48.75%
Technology
6.61% 0.00% 54.02% 88.71%
Communication Services
5.87% 0.00% 26.58% 47.46%
Consumer Cyclical
5.80% 0.00% 22.74% 47.09%
Utilities
3.56% 0.00% 27.04% 63.92%
Basic Materials
1.86% 0.00% 21.69% 80.30%

Stock Geographic Breakdown

Weighting Return Low Return High DVIPX % Rank
US
97.42% 7.19% 103.40% 55.09%
Non US
0.00% 0.00% 24.72% 65.17%

DVIPX - Expenses

Operational Fees

DVIPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.87% 0.03% 14.82% 54.19%
Management Fee 0.75% 0.00% 1.50% 84.28%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% 61.28%

Sales Fees

DVIPX 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 0.95% 5.00% N/A

Trading Fees

DVIPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

DVIPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 20.00% 0.00% 488.00% 22.03%

DVIPX - Distributions

Dividend Yield Analysis

DVIPX Category Low Category High DVIPX % Rank
Dividend Yield 1.52% 0.00% 16.67% 74.13%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

DVIPX Category Low Category High DVIPX % Rank
Net Income Ratio 1.46% -1.51% 4.28% 43.71%

Capital Gain Distribution Analysis

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

Distributions History

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DVIPX - Fund Manager Analysis

Managers

John Ackerly


Start Date

Tenure

Tenure Rank

Dec 31, 2010

11.42

11.4%

Serves on Davenport's Executive Committee and Board of Directors; President of the Davenport Mutual Funds; Past President, Richmond Society of Financial Analysts; Previously served as Portfolio Manager for Central Fidelity Bank

George Smith


Start Date

Tenure

Tenure Rank

Dec 31, 2010

11.42

11.4%

George L. Smith, III, CFA (age 41) joined Davenport & Company in 1997 and currently serves as a Senior Vice President, Director and coordinator of the buy-side research for the firm. Mr. Smith is a member of the firm’s Executive Committee and has been a member of the IPC since July 2010. .

Michael Beall


Start Date

Tenure

Tenure Rank

Dec 31, 2010

11.42

11.4%

Michael S. Beall, CFA joined Davenport & Company in 1980 and is an Executive Vice President, Director and Chairman of the IPC. Mr. Beall has been a member of the IPC since June 1991.

E. Brown


Start Date

Tenure

Tenure Rank

Dec 31, 2010

11.42

11.4%

E. Trigg Brown, Jr. (age 57) joined Davenport & Company LLC in 1982 and currently serves as a Financial Advisor and the Branch Manager of the Advisor’s Richmond, Virginia branch. Mr. Brown is a member of the Advisor’s Executive Committee and has been a member of the Investment Policy Committee since October 2002.

Robert Giles


Start Date

Tenure

Tenure Rank

Dec 31, 2010

11.42

11.4%

Robert B. Giles joined Davenport & Company in 1967 and currently serves as an Executive Vice President and Director. Mr. Giles has been a member of the IPC since July 2007.

Christopher Pearson


Start Date

Tenure

Tenure Rank

Jun 14, 2019

2.96

3.0%

Christopher G. Pearson, CFA joined Davenport & Company LLC in 2006 and is First Vice President and a buy-side analyst for the firm. Mr. Pearson is a member of the firm’s Portfolio Review Committee. Mr. Pearson earned his BA in Business Administration from University of Richmond.

Joel Ray


Start Date

Tenure

Tenure Rank

Jan 14, 2020

2.38

2.4%

Joel Ray is a member of the Davenport Investment Policy Committee as well as the Director of Equity Research. He has been in the industry since 1981 and at Davenport & Company since 2004. Joel received his BA in Biology from Colgate University and his MBA from Cornell University (Johnson). He is a holder of the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.05 86.59 8.09 0.25