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 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
3.1%
1 yr return
6.4%
3 Yr Avg Return
-2.1%
5 Yr Avg Return
N/A
Net Assets
$114 M
Holdings in Top 10
17.2%
Expense Ratio 0.70%
Front Load N/A
Deferred Load N/A
Turnover N/A
Redemption Fee N/A
Standard (Taxable)
$100,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund seeks to achieve its objective through investments in income-producing securities issued by entities deemed by the Funds investment adviser, Eventide Asset Management, LLC (Eventide or the Adviser), to be serving well the needs of customers, employees, suppliers, communities, the environment, and society broadly. Income producing securities that the Fund may invest in include, but are not limited to, corporate bonds; preferred stocks, convertible debt and other hybrid securities that have debt and equity characteristics but are predominantly debt in nature; agency and non-agency residential and commercial mortgage-backed securities; asset-backed securities (including auto loans and leases, equipment loans and leases, and credit cards); green bonds (i.e., bonds that allow issuers to use proceeds for environmental projects); social bonds (i.e., bonds that allow issuers to use proceeds for social projects); sustainable bonds (i.e., bonds that are a combination of green and social bonds); government agency debt instruments; and municipal bonds (collectively, Bonds). Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in Bonds.
The Fund may invest in Bonds of any maturity and, under normal market conditions, the Bonds held by the Fund have a weighted average duration between three years and nine years. Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a securitys price to changes in interest rates. Effective duration is a measure of the Funds portfolio duration adjusted for the anticipated effect of interest rate changes on bond and mortgage pre-payment rates. The longer a securitys duration, the more sensitive it will be to changes in interest rates. The more sensitive a security is to changes in interest rates, the higher its volatility risk. For example, if a bond has a duration of 5 years, a 1% rise in rates would result in approximately a 5% decline in the bonds price. If a bond has a duration of 10 years, a 1% rise in interest rates would result in approximately a 10% decline in the bonds price. The Fund invests predominantly in investment grade securities. With respect to both fixed income and equity securities, the Fund may invest in the securities of foreign entities and may invest in companies of any market capitalization. The Fund may invest in private and other issuers whose securities may have legal or contractual restrictions on resale or are otherwise illiquid (Illiquid Investments), which can impact their valuation. The Fund will not invest more than 15% of the Funds net assets in Illiquid Investments.
The Adviser uses its proprietary values-based screening methodology to analyze all potential investments for the companys ability to operate with integrity and create value for customers, employees, and other stakeholders by reflecting the values described below. The values assessed in the Advisers values-based screening process are inspired by the Christian faith and rooted in a biblical worldview. While few companies may reach these ideals in every area of their business, these principles articulate the Advisers highest expectations for the companies in which the Fund invests. The Adviser uses its values-based screening processes in connection with other fundamental research processes to establish the Funds eligible investment universe. Securities are generally ineligible within the Funds portfolio unless the Adviser believes that the values-based screens are met. If the Advisers research identifies events and/or business changes suggesting that a portfolio company no longer meets the values-based criteria, the Fund may hold the companys securities while the Adviser performs additional research, including possible direct engagement with the company to assess values-based practices. The Advisers screening process for potential investments does not apply relative weights between values-based factors and financial factors. There is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles which help to guide the Advisers research and investment framework. Specifically, the Adviser seeks to invest in companies that reflect the following values:
■ | Respecting the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling, pornography, tobacco, and alcohol. |
■ | Demonstrating a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding products and services that promote weapons production and proliferation. |
■ | Promoting family and community: this includes protecting children from violent forms of entertainment and serving low-income communities. |
■ | Exhibiting responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated by a companys record regarding litigation, regulatory actions against the company, and its record of providing products and services that improve the lives of people. |
■ | Practicing environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources. |
Consistent with the Advisers values, the Fund may invest in domestic and/or foreign fixed-income securities, such as notes (including standalone notes not rated by any agency), to help fund community development institutions and projects aimed at serving human needs such as those of low-to-moderate income families and communities.
Investments that meet the Advisers values criteria are analyzed by the Funds investment sub-adviser, Boyd Watterson Asset Management, LLC (the Sub-Adviser) for possible inclusion in the Funds portfolio. The Sub-Adviser builds the Funds portfolio based on macroeconomic trends and forecasts in economic growth, inflation expectations, and monetary policy. The Sub-Adviser strives to generate excess return through sector allocation (adjusting allocations across major sectors of the bond market based on assessments of fundamentals and current versus historical valuation relationships), duration management (holding securities to optimize interest rates), yield curve positioning (adjusting holdings to capitalize on expected changes in the Treasury yield curve), and security selection. The ability of the Sub-Adviser to deliver returns varies according to the economic and market environment. The Sub-Advisers methods are intended to accumulate value over a full market cycle.
Securities may be sold when the Adviser or the Sub-Adviser believes that they no longer represent relatively attractive investment opportunities or when the Adviser believes the underlying companys practices are no longer consistent with the Advisers values.
Period | ETIRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.1% | -4.8% | 11.2% | 54.30% |
1 Yr | 6.4% | -2.8% | 14.8% | 51.61% |
3 Yr | -2.1%* | -10.1% | 28.3% | 54.63% |
5 Yr | N/A* | -7.3% | 58.7% | N/A |
10 Yr | N/A* | -2.9% | 73.9% | N/A |
* Annualized
Period | ETIRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.1% | -16.2% | 8.1% | 50.83% |
2022 | -15.2% | -34.7% | 131.9% | 24.57% |
2021 | -3.8% | -11.6% | 4.4% | 70.75% |
2020 | N/A | -9.9% | 946.1% | N/A |
2019 | N/A | -1.7% | 16.9% | N/A |
Period | ETIRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.1% | -4.8% | 11.2% | 54.30% |
1 Yr | 6.4% | -2.8% | 14.8% | 51.61% |
3 Yr | -2.1%* | -10.1% | 28.3% | 54.63% |
5 Yr | N/A* | -7.3% | 58.7% | N/A |
10 Yr | N/A* | -2.9% | 73.9% | N/A |
* Annualized
Period | ETIRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.0% | -11.3% | 11.9% | 83.47% |
2022 | -13.2% | -32.2% | 131.9% | 38.62% |
2021 | -2.5% | -9.4% | 9.2% | 94.66% |
2020 | N/A | -1.9% | 1009.0% | N/A |
2019 | N/A | 1.1% | 21668.0% | N/A |
ETIRX | Category Low | Category High | ETIRX % Rank | |
---|---|---|---|---|
Net Assets | 114 M | 2.9 M | 314 B | 89.33% |
Number of Holdings | 94 | 1 | 17880 | 95.53% |
Net Assets in Top 10 | 25.7 M | 1.62 M | 35.1 B | 89.93% |
Weighting of Top 10 | 17.25% | 4.7% | 3984.6% | 74.24% |
Weighting | Return Low | Return High | ETIRX % Rank | |
---|---|---|---|---|
Bonds | 95.09% | 0.00% | 9231.88% | 48.50% |
Convertible Bonds | 4.00% | 0.00% | 7.93% | 4.29% |
Other | 2.76% | -27.25% | 1695.17% | 60.96% |
Cash | 2.15% | -54.51% | 237.69% | 58.05% |
Stocks | 0.00% | 0.00% | 99.98% | 65.28% |
Preferred Stocks | 0.00% | 0.00% | 72.34% | 60.64% |
Weighting | Return Low | Return High | ETIRX % Rank | |
---|---|---|---|---|
Corporate | 55.62% | 0.00% | 100.00% | 6.17% |
Securitized | 20.73% | 0.00% | 98.40% | 80.54% |
Government | 14.21% | 0.00% | 86.23% | 76.88% |
Municipal | 5.61% | 0.00% | 100.00% | 7.74% |
Cash & Equivalents | 1.28% | 0.00% | 237.69% | 66.77% |
Derivative | 0.00% | -6.56% | 44.82% | 55.56% |
Weighting | Return Low | Return High | ETIRX % Rank | |
---|---|---|---|---|
US | 95.09% | 0.00% | 9042.62% | 43.82% |
Non US | 0.00% | 0.00% | 189.26% | 66.04% |
ETIRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.70% | 0.01% | 39.64% | 48.69% |
Management Fee | 0.34% | 0.00% | 1.76% | 42.92% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 5.69% |
Administrative Fee | N/A | 0.01% | 0.50% | N/A |
ETIRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
ETIRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 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.
ETIRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 2.00% | 493.39% | N/A |
ETIRX | Category Low | Category High | ETIRX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.83% | 0.00% | 10.11% | 85.70% |
ETIRX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Quarterly | Monthly | Monthly |
ETIRX | Category Low | Category High | ETIRX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.80% | -1.28% | 4.79% | 92.88% |
ETIRX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Sep 27, 2024 | $0.080 | OrdinaryDividend |
Mar 27, 2024 | $0.067 | OrdinaryDividend |
Dec 28, 2023 | $0.063 | OrdinaryDividend |
Sep 28, 2023 | $0.065 | OrdinaryDividend |
Jun 29, 2023 | $0.054 | OrdinaryDividend |
Mar 30, 2023 | $0.049 | OrdinaryDividend |
Dec 29, 2022 | $0.051 | OrdinaryDividend |
Sep 29, 2022 | $0.047 | OrdinaryDividend |
Jun 29, 2022 | $0.010 | ReturnOfCapital |
Jun 29, 2022 | $0.040 | OrdinaryDividend |
Mar 30, 2022 | $0.008 | ReturnOfCapital |
Mar 30, 2022 | $0.032 | OrdinaryDividend |
Dec 29, 2021 | $0.014 | OrdinaryDividend |
Sep 29, 2021 | $0.043 | OrdinaryDividend |
Jun 29, 2021 | $0.041 | OrdinaryDividend |
Mar 30, 2021 | $0.035 | OrdinaryDividend |
Dec 17, 2020 | $0.025 | OrdinaryDividend |
Sep 29, 2020 | $0.015 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Jul 31, 2020
1.83
1.8%
David M. Dirk, CFA, is Director of Portfolio Management and Trading. David joined Duff & Phelps Investment Management Co., predecessor to Boyd Watterson, in 1996. David holds a CFA Charter from CFA Institute, an MBA from Case Western Reserve University, and a BA from Baldwin Wallace University. He is also a member of the CFA Society of Cleveland and CFA Institute.
Start Date
Tenure
Tenure Rank
Jul 31, 2020
1.83
1.8%
Dolores Bamford, CFA, serves as Director of Investment Research and Portfolio Manager for the Eventide Multi-Asset Income Fund, the Eventide Dividend Opportunities Fund, the Eventide Limited-Term Bond Fund, and the Eventide Core Bond Fund. Ms. Bamford has over 25 years of investment experience. Prior to joining Eventide in 2019, she was with Goldman Sachs Asset Management for 13 years (2002-2015), most recently as Managing Director and Portfolio Manager on U.S. Value Equity. She also led Goldman Sachs’s U.S. Responsible Equity investments and co-led the Global Sustain Equity investments. Previously, she was with Putnam Investments for 10 years (1992-2002), where she served as Senior Vice President and Portfolio Manager and Analyst on multiple value investments. Before that, she was with Fidelity Investments (1988-1990), where she served in investment research. Ms. Bamford holds an S.M. in Management from the MIT Sloan School of Management, a dual-M.A. in Theology and Church History from Gordon-Conwell Theological Seminary, and a B.A. in Economics from Wellesley College. She is a CFA Charterholder and member of the Boston Society of Security Analysts.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 33.43 | 6.77 | 1.16 |
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...