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
18.2%
1 yr return
30.4%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$440 M
Holdings in Top 10
36.6%
Expense Ratio 0.92%
Front Load N/A
Deferred Load N/A
Turnover 31.00%
Redemption Fee N/A
Standard (Taxable)
$0
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Under normal circumstances, the Fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in large cap equity securities. The Fund’s sub-adviser, Smith Group Asset Management, LLC (the “Sub-Advisor”), considers large cap equity securities to be those of issuers with a capitalization of at least $10 billion. Under the general supervision of the Advisor, the Fund invests in a portfolio of approximately 35-45 common stocks that the Fund’s Sub-Advisor believes offers the best potential for earnings growth with the lowest risk of negative earnings surprises.
The Sub-Advisor employs quantitative and qualitative analysis to identify high quality companies that it believes have the ability to accelerate earnings growth and exceed investor expectations.
Beginning with a universe of the largest approximately 1,000 U.S. based companies by market capitalization, which include large, mid, and small capitalization companies, the Sub-Advisor’s investment team uses screens primarily based on earnings growth potential, valuation, financials, and earnings quality factors to narrow the candidate universe. The Sub-Advisor’s earnings quality screen is intended to assess the sustainability of a company’s growth, which the Sub-Advisor believes will allow for a company to experience an extended period of improving earnings growth. In assessing the sustainability of a company’s growth, the Sub-Advisor includes an analysis of the company’s financial condition including the relationship of operating cash flow to reported net income; balance sheet accruals, which includes an assessment of the individual components of working capital in addition to select operating asset/liability accounts; asset utilization; and returns on capital. Through this analysis, the Sub-Advisor is seeking to invest in companies with improving returns that, over time, will be converted to higher growth rates. The Fund will generally invest primarily in US companies.
Stocks that pass the initial screens are then evaluated using a proprietary methodology and fundamental analysis to produce a list of 80 - 100 eligible companies that the Sub-Advisor
believes have a high probability of earnings growth that exceeds investor expectations. The analysis includes an evaluation of changes in earnings expectations for the company and evaluation of earnings quality. The Sub-Advisor then constructs the Fund’s portfolio based on a traditional fundamental analysis of the companies identified on the list to understand their business prospects, earnings potential, strength of management and competitive positioning.
Stocks may be sold if they exhibit negative investment or performance characteristics, including: a negative earnings forecast or report, valuation concerns, deterioration of financial and earnings quality or announcement of a buyout. Additionally, from time to time, in pursuing its investment strategies, the Fund may hold significant investments (25% or more of its assets) in a specific market sector, including the information technology sector.
Period | FICIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 18.2% | -0.5% | 40.4% | 75.99% |
1 Yr | 30.4% | 7.5% | 59.2% | 87.14% |
3 Yr | N/A* | -27.3% | 25.7% | 84.35% |
5 Yr | N/A* | -13.0% | 29.9% | 85.86% |
10 Yr | N/A* | -4.5% | 19.8% | 70.76% |
* Annualized
Period | FICIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 25.4% | -74.1% | 72.4% | 73.78% |
2022 | N/A | -85.9% | 4.7% | 70.32% |
2021 | N/A | -52.4% | 60.5% | 76.73% |
2020 | N/A | -34.3% | 145.0% | 92.62% |
2019 | N/A | -6.9% | 49.4% | 37.64% |
Period | FICIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 18.2% | -0.5% | 40.4% | 75.99% |
1 Yr | 30.4% | 7.5% | 59.2% | 87.14% |
3 Yr | N/A* | -27.3% | 25.7% | 84.44% |
5 Yr | N/A* | -13.0% | 29.9% | 84.31% |
10 Yr | N/A* | -4.5% | 19.8% | 63.43% |
* Annualized
Period | FICIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 29.1% | -4.6% | 72.4% | 76.40% |
2022 | N/A | -61.7% | 5.6% | 70.32% |
2021 | N/A | -39.8% | 118.1% | 76.73% |
2020 | N/A | 2.8% | 149.2% | 92.71% |
2019 | N/A | -5.2% | 49.4% | 31.75% |
FICIX | Category Low | Category High | FICIX % Rank | |
---|---|---|---|---|
Net Assets | 440 M | 292 K | 287 B | 69.33% |
Number of Holdings | 41 | 2 | 3143 | 78.10% |
Net Assets in Top 10 | 155 M | 109 K | 151 B | 74.42% |
Weighting of Top 10 | 36.61% | 0.7% | 205.0% | 88.93% |
Weighting | Return Low | Return High | FICIX % Rank | |
---|---|---|---|---|
Stocks | 98.13% | 0.00% | 115.30% | 65.53% |
Cash | 2.09% | 0.00% | 173.52% | 25.04% |
Preferred Stocks | 0.00% | 0.00% | 10.69% | 65.08% |
Other | 0.00% | -31.50% | 50.35% | 65.80% |
Convertible Bonds | 0.00% | 0.00% | 1.94% | 59.62% |
Bonds | 0.00% | 0.00% | 103.97% | 60.95% |
Weighting | Return Low | Return High | FICIX % Rank | |
---|---|---|---|---|
Technology | 31.62% | 0.00% | 65.70% | 65.92% |
Healthcare | 16.77% | 0.00% | 39.76% | 17.00% |
Financial Services | 12.58% | 0.00% | 43.06% | 25.00% |
Consumer Cyclical | 12.24% | 0.00% | 62.57% | 71.94% |
Industrials | 11.94% | 0.00% | 30.65% | 8.81% |
Consumer Defense | 6.41% | 0.00% | 25.50% | 14.84% |
Communication Services | 5.94% | 0.00% | 66.40% | 84.89% |
Basic Materials | 2.50% | 0.00% | 18.91% | 23.83% |
Utilities | 0.00% | 0.00% | 16.07% | 71.31% |
Real Estate | 0.00% | 0.00% | 16.05% | 86.33% |
Energy | 0.00% | 0.00% | 41.09% | 81.92% |
Weighting | Return Low | Return High | FICIX % Rank | |
---|---|---|---|---|
US | 98.13% | 0.00% | 115.30% | 52.60% |
Non US | 0.00% | 0.00% | 75.51% | 72.44% |
FICIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.92% | 0.01% | 28.71% | 52.70% |
Management Fee | 0.65% | 0.00% | 1.50% | 60.94% |
12b-1 Fee | N/A | 0.00% | 1.00% | 19.08% |
Administrative Fee | N/A | 0.01% | 1.02% | N/A |
FICIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 8.50% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
FICIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.75% | 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.
FICIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 31.00% | 0.00% | 316.74% | 48.32% |
FICIX | Category Low | Category High | FICIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.35% | 0.00% | 27.58% | 16.89% |
FICIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Annual | Annual |
FICIX | Category Low | Category High | FICIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.08% | -6.13% | 3.48% | 21.19% |
FICIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 28, 2023 | $0.046 | OrdinaryDividend |
Dec 28, 2023 | $0.274 | CapitalGainLongTerm |
Dec 01, 2022 | $2.630 | CapitalGainLongTerm |
Start Date
Tenure
Tenure Rank
Apr 26, 2007
15.11
15.1%
John D. Brim, CFA, Chief Investment Officer,joined Smith Group in March 1998 and is a member of the investment management team.Prior to joining the firm, he was a manager within the institutional investment consulting group of Deloitte & Touche from 1997 to 1998. From 1990 to 1997, Brim held a variety of positions, including senior client manager with NationsBank Asset Management in Dallas. He earned his bachelor's degree in economics from Texas A&M University. He is a member of the CFA Institute and the CFA Society of Dallas-Fort Worth.
Start Date
Tenure
Tenure Rank
Apr 26, 2007
15.11
15.1%
Stephen S. Smith, CFA, is Chief Executive Officer and Chief Investment Officer and founder of Smith Group. Prior to Smith Group, he held a number of senior investment positions at Bank of America until he departed in 1995 to found Smith Group. Mr. Smith has an engineering degree and an MBA, both from the University of Alabama. He is a member of the CFA Institute and the CFA Society of Dallas-Ft. Worth.
Start Date
Tenure
Tenure Rank
Mar 17, 2009
13.21
13.2%
Mr. Olsen joined Smith Group Asset Management in May 2008 and is a member of the portfolio management team. Prior to joining Smith Group he was a Portfolio Manager with Brazos Capital Management/John McStay Investment Counsel from 1998 to 2008. From 1994 to 1996, he did equity research as an Associate Analyst with Rauscher, Pierce, Refsnes, Inc. He earned a BBA in Accounting and Finance from Texas Christian University and an MBA in Finance from the University of Texas. Mr. Olsen was awarded the Chartered Financial Analyst (CFA) designation in 2001. He is a member of the CFA Institute and the CFA Society of Dallas-Ft. Worth.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 54.45 | 8.24 | 3.08 |
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