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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 03/10/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
-0.8%
1 yr return
-6.8%
3 Yr Avg Return
1.1%
5 Yr Avg Return
-6.9%
Net Assets
$439 M
Holdings in Top 10
18.5%
Expense Ratio 0.79%
Front Load N/A
Deferred Load N/A
Turnover 94.00%
Redemption Fee N/A
Standard (Taxable)
$0
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 03/10/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
For the purposes of this section, a reference to the Manager may also include Macquarie Investment Management Austria Kapitalanlage AG (“MIMAK” or the “Sub-advisor”), with respect to its role as sub-advisor of the Fund. The Fund allocates its assets among stocks (US and foreign companies), bonds and money market instruments. The Fund does not use a fixed formula for allocating investments between stocks and bonds. While the percentage of assets allocated to each asset class is flexible rather than fixed, the Fund normally invests at least 50% of its net assets in stocks, stock equivalents, and convertible securities with the remainder in bonds, cash and money market instruments.
The percentage allocations within the above ranges may change due to, among other things, market fluctuations or reallocation decisions by the Sub-advisor. MIMAK’s dynamic asset-allocation framework will be used to determine the proportion of the Fund’s assets that will be allocated to the various asset classes, based on the market assessment and portfolio risk contribution for such asset classes. The framework is intended to reduce riskier assets in times of market volatility and provide additional downside protection. Reallocations outside of the above ranges are expected to occur infrequently.
The Fund may also invest in high yield, below investment grade corporate bonds (commonly known as high yield or “junk bonds”). High yield bonds include bonds that are rated below Baa3 by Moody’s Investors Service, Inc. or below BBB- by Standard & Poor’s Financial Services LLC as well as unrated bonds that are determined by the Manager to be of equivalent quality. The Manager will consider ratings assigned by ratings agencies in selecting high yield bonds but relies principally on its own research and investment analysis. In managing its portion of the Fund, the Manager primarily focuses on investments it believes can generate attractive and consistent income. The Manager may sell a bond when it shows deteriorating fundamentals or it falls short of the Manager’s expectations. The Fund may invest in credit-linked securities, provided that no more than 10% of the Fund’s net assets are invested in credit-linked securities.
The Fund may also invest in real estate related companies and real estate investment trusts (REITs).
In connection with its dynamic asset-allocation framework, MIMAK will also manage a tactical/completion sleeve and such sleeve will typically vary from 0% to 20% of the Fund’s total assets and primarily hold derivatives and exchange-traded funds (ETFs).
The Fund may use a wide range of derivative instruments, typically including forward foreign currency contracts, options, futures contracts, options on futures contracts, and credit default swaps. The Fund will use derivatives for both hedging and non-hedging purposes; as a substitute for purchasing or selling securities; and to manage the Fund’s portfolio characteristics. For example, the Fund may invest in: futures and options to manage duration and for defensive purposes, such as to protect gains or hedge against potential losses in the portfolio without actually selling a security, or to stay fully invested; forward foreign currency contracts to manage foreign currency exposure; and credit default swaps to hedge against a credit event, to gain exposure to certain securities or markets, or to enhance total return.
In addition, the Manager may seek investment advice and recommendations relating to fixed income securities from its affiliates: Macquarie Investment Management Europe Limited (MIMEL) and Macquarie Investment Management Global Limited (MIMGL). The Manager may also permit MIMGL, and Macquarie Funds Management Hong Kong Limited (MFMHKL) to execute equity Fund security trades on behalf of the Manager. The Manager may also permit MIMEL and MIMGL to exercise investment discretion for securities in certain markets where the Manager believes it will be beneficial to utilize MIMEL’s or MIMGL’s specialized market knowledge, and the Manager may also seek quantitative support from MIMGL. MIMGL is also responsible for managing real estate investment trust securities and other equity asset classes to which the portfolio managers may allocate assets from time to time.
Period | FITVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.8% | -24.7% | 108.5% | 69.87% |
1 Yr | -6.8% | -24.4% | 116.0% | 8.66% |
3 Yr | 1.1%* | -7.8% | 25.3% | 58.30% |
5 Yr | -6.9%* | -9.9% | 22.9% | 98.49% |
10 Yr | -2.6%* | -5.4% | 8.4% | 68.71% |
* Annualized
Period | FITVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -13.7% | -39.0% | 92.4% | 14.96% |
2022 | 0.5% | -6.1% | 39.6% | 77.22% |
2021 | 0.0% | -21.9% | 14.5% | 92.18% |
2020 | -1.5% | -15.9% | 6.3% | 97.48% |
2019 | -3.7% | -12.6% | 61.5% | 95.11% |
Period | FITVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.8% | -24.7% | 108.5% | 70.00% |
1 Yr | -6.8% | -24.4% | 116.0% | 11.18% |
3 Yr | 1.1%* | -7.8% | 25.3% | 59.54% |
5 Yr | -4.9%* | -9.9% | 22.9% | 96.35% |
10 Yr | 0.5%* | -5.4% | 10.6% | 66.39% |
* Annualized
Period | FITVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -13.7% | -39.0% | 92.4% | 14.96% |
2022 | 0.5% | -6.1% | 39.6% | 77.22% |
2021 | 0.0% | -21.9% | 14.5% | 92.18% |
2020 | -1.5% | -11.5% | 6.3% | 97.77% |
2019 | -1.5% | -12.6% | 61.5% | 44.73% |
FITVX | Category Low | Category High | FITVX % Rank | |
---|---|---|---|---|
Net Assets | 439 M | 658 K | 207 B | 64.43% |
Number of Holdings | 744 | 2 | 15351 | 16.71% |
Net Assets in Top 10 | 80.4 M | -6.38 M | 48.5 B | 73.65% |
Weighting of Top 10 | 18.54% | 8.4% | 100.0% | 92.03% |
Weighting | Return Low | Return High | FITVX % Rank | |
---|---|---|---|---|
Stocks | 67.54% | 0.00% | 99.40% | 9.13% |
Bonds | 20.50% | -82.31% | 116.75% | 93.06% |
Convertible Bonds | 6.63% | 0.00% | 23.84% | 4.88% |
Other | 2.49% | -6.69% | 48.03% | 13.62% |
Cash | 1.85% | -16.75% | 158.07% | 74.42% |
Preferred Stocks | 0.99% | 0.00% | 27.92% | 12.21% |
Weighting | Return Low | Return High | FITVX % Rank | |
---|---|---|---|---|
Technology | 20.50% | 0.00% | 48.68% | 39.18% |
Healthcare | 14.21% | 0.00% | 39.78% | 41.37% |
Financial Services | 11.98% | 0.00% | 60.22% | 85.31% |
Consumer Cyclical | 10.76% | 0.00% | 20.19% | 34.28% |
Consumer Defense | 8.56% | 0.00% | 22.62% | 18.94% |
Industrials | 7.97% | 0.00% | 33.21% | 84.79% |
Real Estate | 6.93% | 0.00% | 65.01% | 17.53% |
Energy | 6.89% | 0.00% | 85.65% | 24.61% |
Communication Services | 6.04% | 0.00% | 100.00% | 73.45% |
Utilities | 3.95% | 0.00% | 99.55% | 27.71% |
Basic Materials | 2.20% | 0.00% | 33.35% | 83.38% |
Weighting | Return Low | Return High | FITVX % Rank | |
---|---|---|---|---|
US | 57.52% | -1.65% | 98.67% | 19.54% |
Non US | 10.02% | -0.44% | 56.67% | 53.47% |
Weighting | Return Low | Return High | FITVX % Rank | |
---|---|---|---|---|
Corporate | 63.57% | 0.00% | 98.21% | 12.21% |
Securitized | 15.08% | 0.00% | 92.13% | 52.57% |
Government | 14.09% | 0.00% | 97.26% | 78.79% |
Cash & Equivalents | 6.14% | 0.14% | 100.00% | 74.29% |
Derivative | 1.13% | 0.00% | 31.93% | 21.08% |
Municipal | 0.00% | 0.00% | 25.26% | 86.25% |
Weighting | Return Low | Return High | FITVX % Rank | |
---|---|---|---|---|
US | 15.95% | -82.31% | 80.50% | 93.06% |
Non US | 4.55% | 0.00% | 84.73% | 36.89% |
FITVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.79% | 0.06% | 7.62% | 65.32% |
Management Fee | 0.65% | 0.00% | 1.83% | 80.03% |
12b-1 Fee | N/A | 0.00% | 1.00% | 10.46% |
Administrative Fee | N/A | 0.01% | 0.83% | N/A |
FITVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
FITVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.00% | 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.
FITVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 94.00% | 0.00% | 343.00% | 81.78% |
FITVX | Category Low | Category High | FITVX % Rank | |
---|---|---|---|---|
Dividend Yield | 5.05% | 0.00% | 11.31% | 16.58% |
FITVX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annually | Quarterly | Quarterly |
FITVX | Category Low | Category High | FITVX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.16% | -2.34% | 19.41% | 12.69% |
FITVX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Nov 23, 2022 | $0.032 | OrdinaryDividend |
Oct 24, 2022 | $0.019 | OrdinaryDividend |
Sep 23, 2022 | $0.030 | OrdinaryDividend |
Aug 23, 2022 | $0.028 | OrdinaryDividend |
Jul 25, 2022 | $0.021 | OrdinaryDividend |
Jun 23, 2022 | $0.034 | OrdinaryDividend |
May 23, 2022 | $0.020 | OrdinaryDividend |
Apr 25, 2022 | $0.015 | OrdinaryDividend |
Mar 23, 2022 | $0.030 | OrdinaryDividend |
Feb 23, 2022 | $0.024 | OrdinaryDividend |
Jan 31, 2022 | $0.018 | OrdinaryDividend |
Dec 31, 2021 | $0.047 | OrdinaryDividend |
Nov 23, 2021 | $0.030 | OrdinaryDividend |
Oct 25, 2021 | $0.017 | OrdinaryDividend |
Sep 23, 2021 | $0.023 | OrdinaryDividend |
Aug 23, 2021 | $0.027 | OrdinaryDividend |
Jul 23, 2021 | $0.023 | OrdinaryDividend |
Jun 23, 2021 | $0.040 | OrdinaryDividend |
May 24, 2021 | $0.021 | OrdinaryDividend |
Apr 23, 2021 | $0.018 | OrdinaryDividend |
Mar 22, 2021 | $0.035 | OrdinaryDividend |
Feb 23, 2021 | $0.026 | OrdinaryDividend |
Jan 25, 2021 | $0.036 | OrdinaryDividend |
Dec 18, 2020 | $0.061 | OrdinaryDividend |
Nov 20, 2020 | $0.030 | OrdinaryDividend |
Oct 22, 2020 | $0.031 | OrdinaryDividend |
Sep 22, 2020 | $0.027 | OrdinaryDividend |
Aug 21, 2020 | $0.022 | OrdinaryDividend |
Jul 23, 2020 | $0.037 | OrdinaryDividend |
Jul 22, 2020 | $0.036 | OrdinaryDividend |
Jun 22, 2020 | $0.026 | OrdinaryDividend |
May 22, 2020 | $0.026 | OrdinaryDividend |
Apr 22, 2020 | $0.031 | OrdinaryDividend |
Mar 20, 2020 | $0.038 | OrdinaryDividend |
Feb 21, 2020 | $0.028 | OrdinaryDividend |
Jan 22, 2020 | $0.027 | OrdinaryDividend |
Nov 25, 2019 | $0.037 | OrdinaryDividend |
Oct 23, 2019 | $0.027 | OrdinaryDividend |
Sep 30, 2019 | $0.150 | OrdinaryDividend |
Jun 28, 2019 | $0.125 | OrdinaryDividend |
Mar 29, 2019 | $0.084 | OrdinaryDividend |
Sep 28, 2018 | $0.143 | OrdinaryDividend |
Jun 29, 2018 | $0.109 | OrdinaryDividend |
Mar 29, 2018 | $0.085 | OrdinaryDividend |
Sep 29, 2017 | $0.103 | OrdinaryDividend |
Jun 30, 2017 | $0.075 | OrdinaryDividend |
Mar 31, 2017 | $0.075 | OrdinaryDividend |
Sep 30, 2016 | $0.075 | OrdinaryDividend |
Jun 30, 2016 | $0.075 | OrdinaryDividend |
Mar 31, 2016 | $0.075 | OrdinaryDividend |
Sep 30, 2015 | $0.075 | OrdinaryDividend |
Jun 30, 2015 | $0.075 | OrdinaryDividend |
Mar 31, 2015 | $0.043 | OrdinaryDividend |
Oct 06, 2014 | $0.085 | OrdinaryDividend |
Jul 07, 2014 | $0.085 | OrdinaryDividend |
Apr 07, 2014 | $0.085 | OrdinaryDividend |
Oct 04, 2013 | $0.085 | OrdinaryDividend |
Jul 05, 2013 | $0.085 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Jun 11, 2020
1.97
2.0%
Jürgen Wurzer rejoined Macquarie Investment Management Austria Kapitalanlage AG (MIMAK) in April 2018 as deputy head of portfolio management for the firm’s global multi asset team based in Vienna. Prior to that, he worked at Erste Asset Management as a senior fund manager on the multi asset management team, where he worked from September 2016 to March 2018. Wurzer previously worked at MIMAK from January 2007 to August 2016, leaving the firm as senior investment manager on the global multi asset team. He graduated from University of Applied Sciences Wiener Neustadt with a master’s degree. Wurzer is a lecturer for asset allocation, quantitative finance, portfolio, and risk management at several educational institutions.
Start Date
Tenure
Tenure Rank
Jun 11, 2020
1.97
2.0%
Stefan Löwenthal is the chief investment officer for Macquarie Investment Management Austria Kapitalanlage AG (MIMAK), a role he assumed in February 2013. He heads the global multi asset team based in Vienna, which is responsible for all asset allocation and security selection decisions, the management of mutual funds, as well as the development of new investment strategies. In addition, Löwenthal oversees the investment policy committee, which is responsible for strategic investment decisions at MIMAK. He began his career with Macquarie in February 2008 as a portfolio manager. He holds a Master of Management Science from Vienna University of Economics and Business. Löwenthal is a lecturer for economics at the IMC University of applied sciences in Krems (Austria) and the Qiongzhou University in Sanya (China).
Start Date
Tenure
Tenure Rank
May 20, 2022
0.03
0.0%
Mr. Young is Vice President of IICO and WRIMCO and Vice President of the Trust. He joined IICO in 2005 as a fixed-income analyst with an emphasis in credit research and derivative securities. Mr. Young joined the Asset Strategy team as an investment analyst in 2007. He has served as an assistant portfolio manager of investment companies managed by IICO and WRIMCO since 2012. Mr. Young earned a BA in Philosophy from the University of Missouri and holds an MBA with an emphasis in Finance and Strategy from the Olin School of Business at Washington University
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.03 | 34.51 | 6.26 | 2.41 |
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