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Trending ETFs

U.S. Global Investors Emerging Europe Fund

mutual fund
EUROX
Payout Change
Pending
Price as of:
$4.04 +0.0 +0.0%
primary theme
N/A
share class
EUROX (Mutual Fund)

U.S. Global Investors Emerging Europe Fund

Payout Change
Pending
Price as of:
$4.04 +0.0 +0.0%
primary theme
N/A
share class
EUROX (Mutual Fund)

U.S. Global Investors Emerging Europe Fund

Payout Change
Pending
Price as of:
$4.04 +0.0 +0.0%
primary theme
N/A
share class

Name

As of 08/31/2023

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

$4.04

$12.2 M

0.03%

$0.00

2.49%

Vitals

YTD Return

N/A

1 yr return

N/A

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$12.2 M

Holdings in Top 10

43.3%

52 WEEK LOW AND HIGH

$4.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.49%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 169.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 08/31/2023

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

$4.04

$12.2 M

0.03%

$0.00

2.49%

EUROX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.24%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    U.S. Global Investors Emerging Europe Fund
  • Fund Family Name
    U.S. Global Investors
  • Inception Date
    Mar 31, 1997
  • Shares Outstanding
    N/A
  • Share Class
    No Load
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Frank Holmes

Fund Description

The Adviser uses a matrix of “top-down” macro models and “bottom-up” micro stock selection models to determine weighting in countries, sectors and individual securities. The Adviser believes government policies are a precursor to change, and as a result, it monitors and tracks the fiscal and monetary policies of the world’s largest countries both in terms of economic stature and population. The Adviser focuses on historical and socioeconomic cycles, and it applies both statistical and fundamental models, including “growth at a reasonable price” (GARP), to identify companies with superior growth and value metrics. The Adviser overlays these explicit knowledge models with the tacit knowledge obtained by domestic and global travel for first-hand observation of local and geopolitical conditions, as well as specific companies and projects.

The Adviser’s “bottom-up” stock selection approach is generally characterized as growth at a reasonable price, which focuses on three key drivers: revenue growth, cash flow and return on equity. The Adviser searches for growth companies that have strong fundamentals and are also trading at reasonable valuations.

The Emerging Europe Fund invests, under normal market conditions, at least 80% of its net assets in equity and equity-related securities of companies located in the emerging markets of Eastern Europe. The equity and equity-related securities in which the fund primarily invests include common stocks, preferred stocks, convertible securities, rights and warrants, options, exchange-traded funds (“ETFs”) that represent interests in, or related to, companies located in the emerging markets of Eastern Europe, and depository receipts (American Depository Receipts (ADRs) and Global Depository Receipts (GDRs)).

In general, Eastern European countries are in the early stages of industrial, economic or capital market development. Eastern European countries may include countries that were, until recently, governed by communist governments or countries that, for any other reason, have failed to achieve levels of industrial production, market activity, or other measures of economic development typical of the developed European countries.

Although the fund may invest in any Eastern European country, it currently focuses its investment in companies located in Poland, the Czech Republic, Hungary and Turkey. The Adviser considers the following countries to be in Eastern Europe: Albania, Armenia, Azerbaijan, Belarus, Bulgaria, Croatia, the Czech Republic,

Estonia, FYR Macedonia, Georgia, Greece, Hungary, Latvia, Lithuania, Moldova, Poland, Romania, Slovakia, Slovenia, Turkey and Ukraine.

The fund will consider investments in Eastern Europe to be the following:

1. securities of issuers that are organized under the laws of any Eastern European country or have a principal office in an Eastern European country;
2. securities of issuers that derive a majority of their revenues from business in Eastern European countries, or have a majority of their assets in Eastern European countries at the time of the fund’s investment; or
3. securities that are traded principally on a securities exchange in an Eastern European country. (For this purpose, investment companies that invest principally in securities of companies located in one or more Eastern European countries will also be considered to be located in an Eastern European country, as will American Depository Receipts (ADRs) and Global Depository Receipts (GDRs) with respect to the securities of companies located in Eastern European countries.)

The Emerging Europe Fund invests at least 25% of its total assets in securities of companies involved in oil, gas or banking. In determining whether a company is involved in oil, gas or banking, the fund will use the Bloomberg Industry Classification System. For a full list of the Bloomberg-classified industries involving oil, gas or banking, see the discussion of non-fundamental investment restrictions in the statement of additional information (SAI).

However, the fund will invest no more than 25% of its total assets in any one Bloomberg-classified industry involving oil, gas, or banking, such as, among others, Drilling & Drilling Support, Exploration & Production, Integrated Oils, Midstream – Oil & Gas, Oilfield Services & Equipment, Refining & Marketing, Banks, and Diversified Banks; provided, however, if at the time of purchase a corresponding industry classification represents 20% or more of the fund’s benchmark, the MSCI Emerging Markets Europe 10/40 Index (Net Total Return), the fund may invest up to 35% of its total assets in the corresponding Bloomberg-classified industry.

The fund may invest up to 20% of its net assets in securities, including debt securities of any credit quality, of governments and companies located anywhere in the world.

The fund is non-diversified and, therefore, may invest a greater percentage of its assets in a particular issuer in comparison to a diversified fund.

The fund may participate in private placements and initial public offerings (IPOs). The fund also may purchase call and put options, and enter into covered option writing transactions. The fund’s use of options may also include participation in long-term equity anticipation securities (LEAPS). In addition, the fund may invest up to 15% of its net assets in illiquid securities.

The Adviser uses a matrix of statistical models to monitor market volatility and money flows, and as a result, the fund may at times maintain higher than normal cash levels. For example, the Adviser may take a temporary defensive position when the securities trading markets or the economy are experiencing excessive volatility, a prolonged general decline, or other adverse conditions.

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EUROX - Performance

Return Ranking - Trailing

Period EUROX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -42.0% 82.1% 18.95%
1 Yr N/A -42.7% 73.2% 13.68%
3 Yr N/A* -73.1% 21.7% 90.32%
5 Yr N/A* -52.8% 11.1% 86.52%
10 Yr N/A* -32.0% 10.3% 90.63%

* Annualized

Return Ranking - Calendar

Period EUROX Return Category Return Low Category Return High Rank in Category (%)
2023 -45.1% -98.9% 99.1% 92.00%
2022 11.0% -29.9% 283.0% 52.04%
2021 -20.9% -50.2% 41.8% 98.97%
2020 27.3% -19.5% 46.8% 14.43%
2019 -17.0% -43.5% 14.1% 47.25%

Total Return Ranking - Trailing

Period EUROX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -42.0% 82.1% 18.95%
1 Yr N/A -42.7% 73.2% 13.68%
3 Yr N/A* -45.2% 25.1% 90.32%
5 Yr N/A* -26.9% 14.1% 86.52%
10 Yr N/A* -13.8% 12.0% 90.63%

* Annualized

Total Return Ranking - Calendar

Period EUROX Return Category Return Low Category Return High Rank in Category (%)
2023 -39.8% -92.6% 105.8% 90.00%
2022 12.9% -27.5% 283.0% 58.16%
2021 -18.1% -50.2% 43.0% 98.97%
2020 29.8% -17.8% 50.2% 19.59%
2019 -17.0% -41.5% 20.1% 70.33%

NAV & Total Return History


EUROX - Holdings

Concentration Analysis

EUROX Category Low Category High EUROX % Rank
Net Assets 12.2 M 2.3 M 28.5 B 89.00%
Number of Holdings 65 13 873 26.00%
Net Assets in Top 10 5.6 M 1.7 M 3.17 B 93.00%
Weighting of Top 10 43.32% 10.1% 100.0% 84.00%

Top 10 Holdings

  1. Powszechny Zaklad Ubezpieczen SA 6.01%
  2. Powszechny Zaklad Ubezpieczen SA 6.01%
  3. Powszechny Zaklad Ubezpieczen SA 6.01%
  4. Powszechny Zaklad Ubezpieczen SA 6.01%
  5. Powszechny Zaklad Ubezpieczen SA 6.01%
  6. Powszechny Zaklad Ubezpieczen SA 6.01%
  7. Powszechny Zaklad Ubezpieczen SA 6.01%
  8. Powszechny Zaklad Ubezpieczen SA 6.01%
  9. Powszechny Zaklad Ubezpieczen SA 6.01%
  10. Powszechny Zaklad Ubezpieczen SA 6.01%

Asset Allocation

Weighting Return Low Return High EUROX % Rank
Stocks
96.03% 0.00% 102.00% 75.00%
Bonds
3.75% 0.00% 3.75% 2.00%
Cash
0.22% -2.00% 100.00% 83.00%
Preferred Stocks
0.00% 0.00% 0.67% 17.00%
Other
0.00% -7.90% 31.19% 30.00%
Convertible Bonds
0.00% 0.00% 0.30% 9.00%

Stock Sector Breakdown

Weighting Return Low Return High EUROX % Rank
Financial Services
29.73% 0.00% 64.45% 33.33%
Energy
14.55% 0.00% 40.11% 20.83%
Basic Materials
12.64% 0.00% 50.50% 31.25%
Consumer Cyclical
11.88% 0.00% 30.50% 25.00%
Utilities
11.70% 0.00% 37.60% 10.42%
Communication Services
9.40% 0.00% 24.74% 20.83%
Industrials
5.24% 0.00% 39.81% 80.21%
Consumer Defense
3.20% 0.00% 28.14% 72.92%
Healthcare
1.55% 0.00% 37.68% 62.50%
Real Estate
0.07% 0.00% 30.80% 82.29%
Technology
0.05% 0.00% 39.90% 80.21%

Stock Geographic Breakdown

Weighting Return Low Return High EUROX % Rank
Non US
96.02% 0.00% 102.00% 62.00%
US
0.01% 0.00% 49.47% 31.00%

EUROX - Expenses

Operational Fees

EUROX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.49% 0.09% 4.32% 3.06%
Management Fee 1.07% 0.00% 1.35% 96.00%
12b-1 Fee 0.25% 0.00% 1.00% 46.15%
Administrative Fee N/A 0.08% 0.15% 17.12%

Sales Fees

EUROX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

EUROX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% 100.00%

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.

EUROX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 169.00% 4.00% 217.50% 98.85%

EUROX - Distributions

Dividend Yield Analysis

EUROX Category Low Category High EUROX % Rank
Dividend Yield 0.03% 0.00% 16.35% 79.00%

Dividend Distribution Analysis

EUROX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Semi-Annually Annually

Net Income Ratio Analysis

EUROX Category Low Category High EUROX % Rank
Net Income Ratio 2.24% -4.11% 6.59% 42.00%

Capital Gain Distribution Analysis

EUROX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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EUROX - Fund Manager Analysis

Managers

Frank Holmes


Start Date

Tenure

Tenure Rank

Nov 07, 2008

13.57

13.6%

Mr. Holmes is Chief Executive Officer since 1989 and Chief Investment Officer since 1999 at U.S. Global Investors, Inc. Mr. Holmes had investment banking experience in the international capital markets and the gold mining industry. He was formerly President and Chairman of the Toronto Society of the Investment Dealers Association and a member of the Toronto Stock Exchange's Listing Committee as well as a member seat holder of the stock exchanges in Toronto, Montreal, Vancouver and Alberta.

Ralph Aldis


Start Date

Tenure

Tenure Rank

Apr 22, 2015

7.11

7.1%

Ralph P. Aldis, CFA, is a Portfolio Manager for U.S. Global Investors, Inc. Aldis has served as senior research analyst of the U.S. Global Investors, Inc. since 2001. Previously he was with United Services Advisors as director of research and analysis since April 1989. Before that, he spent three years in the research department at Neil A. Eisner and Company, and he also worked as a research assistant at Southwest Energy Associates during the summer of 1986. He is a member of the Society of Economic Geologists and the San Antonio Society of Financial Analysts.

Joanna Sawicka


Start Date

Tenure

Tenure Rank

May 01, 2020

2.08

2.1%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 31.8 8.3 10.64