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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 12/09/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
-0.5%
1 yr return
-3.9%
3 Yr Avg Return
2.7%
5 Yr Avg Return
4.8%
Net Assets
$45.4 M
Holdings in Top 10
95.1%
Expense Ratio 3.42%
Front Load N/A
Deferred Load 1.00%
Turnover 0.00%
Redemption Fee N/A
Standard (Taxable)
$2,500
IRA
$2,500
Fund Type
Open End Mutual Fund
Name
As of 12/09/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund pursues its investment objective by making a combination of investments (i) directly in an actively managed fixed-income portfolio (typically U.S. Treasuries and other short-term U.S. government obligations) comprised of cash, cash equivalents, securities issued by the U.S. government with one year or less term to maturity and money market funds (the “Fixed Income Portfolio”) and (ii) directly or indirectly in a diversified portfolio of futures contracts and futures-related instruments such as forwards and swaps in broadly diversified global (i.e., U.S. and non-U.S., including
emerging markets) markets across a wide range of asset classes, including equities, fixed income, currencies and commodities, utilizing a portfolio of futures, forwards, options, spot contracts and swaps (the “Futures Portfolio”). The Fund either invests directly in those instruments, or indirectly by investing via a swap or via its wholly-owned subsidiary organized in the Cayman Islands (the “Subsidiary”) which may then invest in such assets directly or indirectly.
Chesapeake Capital Corporation (“Chesapeake” or the “Sub-Advisor”) manages the Futures Portfolio and the Subsidiary’s Futures Portfolio by applying the Chesapeake Program. The Chesapeake Program is a long-term trend following (a strategy that generally seeks to identify the general direction of one or more global market segments (either up or down) using indicators such as current market prices and moving average prices, and buy or sell investments based on the assessment of these trade signals as determined before a trade is made) program that utilizes trading systems across a broadly diversified set of markets with a systematic trading (a trading strategy that employs computer-driven, mathematical models to identify when to buy or sell an instrument according to rules determined before a trade is made, generally with little or no human intervention once a mathematical formula has been entered) approach, focusing on capital preservation while attempting to provide positive annual returns. Chesapeake analyzes markets, including price movement, market volatility, open interest (the total number of contracts long or short in a delivery month or market that has been entered into and not yet liquidated by an offsetting transaction or fulfilled by delivery), and volume, as a means of predicting market opportunity and discovering any repeating patterns in past historical prices. The scope of markets that may be accessed includes stock indices, single stock futures, interest rates, currencies, and commodities. The Chesapeake Program may also invest directly in long and short positions of U.S. and non-U.S. equity securities as part of its broader trend following program. The direct investments in equity securities will typically not exceed 30% of the Fund’s total assets.
The Fund may make some or all of its investments in the Futures Portfolio through the Subsidiary. Applicable federal tax requirements generally limit the degree to which the Fund may invest in the Subsidiary to an amount not exceeding 25% of its total assets at each quarter end of the Fund’s fiscal year. Generally, the Subsidiary will primarily invest directly or indirectly in commodity futures, but it may also invest in swaps, financial futures, foreign exchange currency forwards, U.S. government securities, money market funds, and/or other investments intended to serve as margin or collateral for the Subsidiary’s derivative positions. Through investing in the Subsidiary, the Fund will, among other things, be able to gain exposure to the commodities markets within the limitations of the federal tax laws, rules and regulations that apply to regulated investment companies. To the extent they are applicable to the investment activities of the Subsidiary, the Subsidiary will be subject to the same investment restrictions and limitations, and follow the same compliance policies and procedures, as the Fund. Unlike the Fund, the Subsidiary may invest without limitation in commodity-linked derivative instruments (including commodity futures), however, the Subsidiary will comply with the same asset coverage requirements imposed by the Investment Company Act of 1940, as amended (the “1940 Act”) with respect to its investments in commodity-linked derivatives (including commodity futures) that are applicable to the Fund’s transactions in derivatives. Unlike the Fund, the Subsidiary will not seek to qualify as a regulated investment company under Sub-chapter M of the Internal Revenue Code of 1986, as amended (the “Code”). The Fund is the sole shareholder of the Subsidiary and does not expect shares of the Subsidiary to be offered or sold to other investors.
The Fund’s returns will be derived principally from changes in the value of securities and derivatives of securities held in the Fund’s portfolio (including its investment in the Subsidiary), and the Fund’s assets will consist principally of securities. The Sub-Advisor may engage in frequent buying and selling of portfolio holdings to achieve the Fund’s investment objective.
Period | ECHCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.5% | -7.4% | 14.6% | 3.19% |
1 Yr | -3.9% | -16.1% | 36.5% | 4.30% |
3 Yr | 2.7%* | -7.9% | 13.3% | 74.16% |
5 Yr | 4.8%* | -5.3% | 10.0% | 50.60% |
10 Yr | N/A* | -2.4% | 4.3% | N/A |
* Annualized
Period | ECHCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -9.4% | -16.4% | 12.9% | 16.13% |
2022 | 18.0% | -9.3% | 17.5% | 81.52% |
2021 | 0.7% | -25.8% | 2.2% | 87.21% |
2020 | 5.9% | -5.1% | 21.0% | 13.16% |
2019 | -6.0% | -20.3% | 4.6% | N/A |
Period | ECHCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.5% | -7.4% | 14.6% | 3.19% |
1 Yr | -3.9% | -20.3% | 36.5% | 3.23% |
3 Yr | 2.7%* | -9.0% | 11.1% | 68.54% |
5 Yr | 4.8%* | -5.7% | 8.7% | 45.78% |
10 Yr | N/A* | -2.4% | 4.3% | N/A |
* Annualized
Period | ECHCX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -9.0% | -16.4% | 12.9% | 16.13% |
2022 | 18.9% | -9.3% | 17.5% | 81.52% |
2021 | 11.0% | -20.3% | 2.5% | 87.21% |
2020 | 5.9% | -5.1% | 21.0% | 13.16% |
2019 | -3.5% | -20.3% | 6.7% | N/A |
ECHCX | Category Low | Category High | ECHCX % Rank | |
---|---|---|---|---|
Net Assets | 45.4 M | 2.12 M | 1.74 B | 81.91% |
Number of Holdings | 77 | 3 | 876 | 73.40% |
Net Assets in Top 10 | 36.3 M | -100 M | 2.04 B | 70.21% |
Weighting of Top 10 | 95.07% | 20.3% | 94.0% | 3.70% |
Weighting | Return Low | Return High | ECHCX % Rank | |
---|---|---|---|---|
Cash | 95.98% | -687.11% | 117.03% | 15.96% |
Other | 3.62% | 0.00% | 58.63% | 81.91% |
Stocks | 0.00% | -1.78% | 72.26% | 62.77% |
Preferred Stocks | 0.00% | 0.00% | 0.13% | 46.81% |
Convertible Bonds | 0.00% | 0.00% | 2.27% | 56.38% |
Bonds | 0.00% | -50.36% | 717.59% | 77.66% |
ECHCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 3.42% | 0.75% | 12.88% | 9.68% |
Management Fee | 1.45% | 0.65% | 2.99% | 72.34% |
12b-1 Fee | 1.00% | 0.00% | 1.00% | 80.33% |
Administrative Fee | N/A | 0.09% | 0.45% | N/A |
ECHCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | 1.00% | 1.00% | 5.00% | 35.29% |
ECHCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 1.00% | 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.
ECHCX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 0.00% | 0.00% | 198.00% | 54.29% |
ECHCX | Category Low | Category High | ECHCX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.42% | 0.00% | 0.00% | 41.49% |
ECHCX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Quarterly | Annually |
ECHCX | Category Low | Category High | ECHCX % Rank | |
---|---|---|---|---|
Net Income Ratio | -2.45% | -3.14% | 1.55% | 77.42% |
ECHCX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 15, 2023 | $0.049 | OrdinaryDividend |
Dec 16, 2022 | $0.096 | OrdinaryDividend |
Dec 16, 2021 | $1.087 | OrdinaryDividend |
Dec 19, 2019 | $0.260 | OrdinaryDividend |
Dec 19, 2018 | $0.049 | CapitalGainShortTerm |
Start Date
Tenure
Tenure Rank
Jul 26, 2017
4.85
4.9%
R. Jerry Parker, Jr. is the Chairman of the Board of Directors and the Chief Executive Officer of Chesapeake and Chesapeake Holding Company. Mr. Parker has overseen Chesapeake’s operations and has been heavily involved in its research efforts since Chesapeake's inception in February 1988. Mr. Parker has been registered as an Associated Person and listed as a Principal of Chesapeake since June 1988 and registered as a Swap Associated Person since November 2014. Mr. Parker commenced his trading career in November 1983 as a member of the Richard Dennis “Turtle” trading program. Prior to starting Chesapeake, Mr. Parker, a CPA, was employed in the public accounting field. Mr. Parker received a Bachelor of Science degree in Commerce, with an emphasis in Accounting, from the University of Virginia in January 1980.
Start Date
Tenure
Tenure Rank
Jul 26, 2017
4.85
4.9%
Michael L. Ivie is the Director of Research of Chesapeake and assists Mr. Parker with portfolio management activities. Mr. Ivie joined Chesapeake in June 1991. Mr. Ivie has been registered as an Associated Person of Chesapeake since May 21, 1999 and listed as a principal of Chesapeake since May 12, 2008. Mr. Ivie received a Bachelor of Science degree in Mathematics from Louisiana State University in 1989.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.16 | 14.09 | 5.41 | 5.06 |
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
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