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Trending ETFs

Gotham Index Plus Fund

mutual fund
GNNDX
Payout Change
Pending
Price as of:
$29.41 -0.02 -0.07%
primary theme
U.S. Large-Cap Blend Equity
share class
GNNDX (Mutual Fund)

Gotham Index Plus Fund

Payout Change
Pending
Price as of:
$29.41 -0.02 -0.07%
primary theme
U.S. Large-Cap Blend Equity
share class
GNNDX (Mutual Fund)

Gotham Index Plus Fund

Payout Change
Pending
Price as of:
$29.41 -0.02 -0.07%
primary theme
U.S. Large-Cap Blend Equity
share class

Name

As of 12/05/2024

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

Gotham Index Plus Fund

GNNDX | Fund

$29.41

$591 M

0.28%

$0.08

1.49%

Vitals

YTD Return

30.7%

1 yr return

40.4%

3 Yr Avg Return

14.8%

5 Yr Avg Return

15.7%

Net Assets

$591 M

Holdings in Top 10

54.4%

52 WEEK LOW AND HIGH

$29.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.49%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 158.00%

Redemption Fee 1.00%


Min Investment

Standard (Taxable)

$2,500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/05/2024

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

Gotham Index Plus Fund

GNNDX | Fund

$29.41

$591 M

0.28%

$0.08

1.49%

GNNDX - Profile

Distributions

  • YTD Total Return 30.7%
  • 3 Yr Annualized Total Return 14.8%
  • 5 Yr Annualized Total Return 15.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.30%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Gotham Index Plus Fund
  • Fund Family Name
    Polen Advised Funds for FundVantage Trust and Polen Credit Opportunities Fund
  • Inception Date
    Mar 31, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Joel Greenblatt

Fund Description

The Fund seeks to achieve its investment objective by investing under normal circumstances in long and short positions of equity and equity-related securities. The Adviser will invest a portion of the assets in securities intended to track or exceed the performance of the S&P 500® Index (the “Index”) and additional exposure to a long/short portfolio (the “Long/Short Portfolio”), consisting of long and short positions, generally selected from the largest 500 to 700 U.S. companies by market capitalization. The Fund is not a passive index fund, but instead utilizes an enhanced index or “index plus” strategy.

The Long/Short Portfolio consists of long positions in securities that the Adviser believes to be undervalued and short positions in securities that the Adviser believes to be overvalued, based on the Adviser’s analysis of the issuer’s financial reports and market valuation. Under normal market conditions, the Fund targets a net exposure of approximately 100% and a gross exposure in the range of approximately 250 – 290%.

In determining in which securities to take a long or short position for the Long/Short Portfolio, the Adviser employs a systematic, bottom-up, valuation approach based on the Adviser’s proprietary analytical framework to identify companies that appear to be undervalued or overvalued on both an absolute and relative basis. This approach consists of:

Researching and analyzing each company in the Adviser’s coverage universe according to a methodology that emphasizes fundamentals such as recurring earnings, cash flows, capital efficiency, capital structure, and valuation;
Identifying and excluding companies that do not conform to the Adviser’s valuation methodology or companies judged by the Adviser to have questionable financial reporting;
Updating the analysis for earning releases, annual (Form 10-K) and quarterly (Form 10-Q) reports and other corporate filings; and
Recording analysis in a centralized database enabling the Adviser to compare companies and identify longs and shorts based on the Adviser’s assessment of value.

Generally, the long portion of the Long/Short Portfolio is weighted towards those stocks that are priced at the largest discount to the Adviser’s assessment of value. Similarly, the short portion of the Long/Short Portfolio is generally weighted towards those short positions selling at the largest premium to the Adviser’s measures of value. The Long/Short Portfolio is also subject to the Adviser’s risk controls, which include liquidity and diversification considerations. The Fund is rebalanced (generally daily) to maintain exposure levels, manage risk and reposition the portfolio to reflect earnings releases and other new information related to particular companies.

The Fund obtains exposure to the Index and invests some or all of the long portion of the Long/Short Portfolio through investment in one or more exchange-traded funds (“ETFs”) or mutual funds intended to track or exceed the performance of the Index. Such ETFs and mutual funds may include ETFs or mutual funds advised or sub-advised by the Adviser (each an “underlying fund” and collectively, the “underlying funds”). Presently, the Fund obtains some or all of its exposure to the Index and/or invests some or all of the long portion of the Long/Short Portfolio through its investment in the Gotham Enhanced 500 ETF. The Gotham Enhanced 500 ETF is an actively managed ETF sub-advised by Gotham that invests in securities of issuers included in the Index weighted based on Gotham’s assessment of value and each security’s weight in the Index.

The Fund currently obtains its long exposure through direct investment in securities, investments in other ETFs and through one or more swaps and its short exposure through one or more swaps. In addition, the Fund may lend portfolio securities to brokers, dealers and other financial organizations meeting capital and other credit requirements or other criteria established by the Fund’s Board of Trustees. Loans of portfolio securities will be collateralized by liquid securities and cash. The Fund may invest cash collateral received in securities consistent with its principal investment strategy. Because the Fund generally rebalances its long and short positions daily, the Fund will experience a high portfolio turnover rate.

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GNNDX - Performance

Return Ranking - Trailing

Period GNNDX Return Category Return Low Category Return High Rank in Category (%)
YTD 30.7% 6.3% 46.9% 9.28%
1 Yr 40.4% 8.6% 56.2% 30.82%
3 Yr 14.8%* -10.2% 18.5% 1.84%
5 Yr 15.7%* -7.7% 111.2% 21.81%
10 Yr N/A* -0.2% 52.6% N/A

* Annualized

Return Ranking - Calendar

Period GNNDX Return Category Return Low Category Return High Rank in Category (%)
2023 21.4% -42.6% 47.4% 35.68%
2022 -13.4% -56.3% -4.2% 6.28%
2021 25.8% -27.2% 537.8% 10.23%
2020 5.6% -22.5% 2181.7% 79.70%
2019 17.8% -13.5% 40.4% 78.88%

Total Return Ranking - Trailing

Period GNNDX Return Category Return Low Category Return High Rank in Category (%)
YTD 30.7% 6.3% 46.9% 9.28%
1 Yr 40.4% 8.6% 56.2% 30.82%
3 Yr 14.8%* -10.2% 18.5% 1.84%
5 Yr 15.7%* -7.7% 111.2% 21.81%
10 Yr N/A* -0.2% 52.6% N/A

* Annualized

Total Return Ranking - Calendar

Period GNNDX Return Category Return Low Category Return High Rank in Category (%)
2023 26.1% -5.0% 47.4% 26.91%
2022 -11.9% -36.8% -2.2% 13.96%
2021 32.4% 3.0% 537.8% 4.45%
2020 6.5% -15.8% 2266.0% 96.78%
2019 19.1% -0.4% 241.3% 98.35%

NAV & Total Return History


GNNDX - Holdings

Concentration Analysis

GNNDX Category Low Category High GNNDX % Rank
Net Assets 591 M 2.34 M 1.55 T 63.45%
Number of Holdings 788 2 3963 6.95%
Net Assets in Top 10 486 M 880 K 525 B 50.70%
Weighting of Top 10 54.36% 0.3% 111.6% 5.67%

Top 10 Holdings

  1. Gotham Enhanced 500 ETF 44.84%
  2. CFD APPLE INC 1.82%
  3. NVIDIA Corp 1.33%
  4. Microsoft Corp 1.30%
  5. CFD NVIDIA CORP 1.03%
  6. CFD MICROSOFT CORP 1.02%
  7. QUALCOMM Inc 0.83%
  8. NRG Energy Inc 0.75%
  9. CFD ALPHABET INC 0.73%
  10. Meta Platforms Inc 0.71%

Asset Allocation

Weighting Return Low Return High GNNDX % Rank
Stocks
94.89% 0.00% 105.79% 92.80%
Other
17.99% -13.91% 100.00% 1.39%
Preferred Stocks
0.00% 0.00% 2.03% 59.61%
Convertible Bonds
0.00% 0.00% 5.54% 57.18%
Cash
0.00% 0.00% 99.07% 97.79%
Bonds
0.00% 0.00% 93.85% 60.18%

Stock Sector Breakdown

Weighting Return Low Return High GNNDX % Rank
Technology
19.26% 0.00% 48.94% 77.35%
Healthcare
13.80% 0.00% 52.29% 67.03%
Consumer Cyclical
12.41% 0.00% 30.33% 16.24%
Industrials
12.22% 0.00% 29.90% 16.32%
Financial Services
11.31% 0.00% 55.59% 86.84%
Consumer Defense
9.04% 0.00% 47.71% 18.07%
Communication Services
8.36% 0.00% 27.94% 52.04%
Energy
3.94% 0.00% 41.64% 54.95%
Utilities
3.70% 0.00% 20.91% 15.65%
Basic Materials
3.01% 0.00% 25.70% 36.80%
Real Estate
2.94% 0.00% 31.91% 39.97%

Stock Geographic Breakdown

Weighting Return Low Return High GNNDX % Rank
US
94.89% 0.00% 105.79% 82.99%
Non US
0.00% 0.00% 63.83% 64.84%

GNNDX - Expenses

Operational Fees

GNNDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.49% 0.01% 19.75% 14.49%
Management Fee 0.77% 0.00% 1.90% 92.28%
12b-1 Fee 0.25% 0.00% 1.00% 47.01%
Administrative Fee N/A 0.00% 0.85% N/A

Sales Fees

GNNDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

GNNDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 0.25% 2.00% 82.05%

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.

GNNDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 158.00% 0.00% 268.00% 96.03%

GNNDX - Distributions

Dividend Yield Analysis

GNNDX Category Low Category High GNNDX % Rank
Dividend Yield 0.28% 0.00% 25.47% 28.61%

Dividend Distribution Analysis

GNNDX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Quarterly

Net Income Ratio Analysis

GNNDX Category Low Category High GNNDX % Rank
Net Income Ratio 0.30% -54.00% 2.44% 71.93%

Capital Gain Distribution Analysis

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

Distributions History

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GNNDX - Fund Manager Analysis

Managers

Joel Greenblatt


Start Date

Tenure

Tenure Rank

Mar 31, 2015

7.17

7.2%

Mr. Joel Greenblatt is the Founder and serves as Managing Principal & Co-Chief Investment Officer at Gotham Asset Management. Since 1996, he has been a professor on the adjunct faculty of Columbia Business School where he teaches "Value and Special Situation Investing." Mr. Greenblatt is a director of Pzena Investment Management, Inc., a global investment management firm. He formerly served on the Investment Boards of the University of Pennsylvania and the UJA Federation. Mr. Greenblatt is the author of You Can Be A Stock Market Genius (Simon & Schuster, 1997), The Little Book that Beats the Market (Wiley, 2005), The Little Book that Still Beats the Market (Wiley, 2010), and The Big Secret for the Small Investor (Random House, 2011). He is the Former Chairman of the Board (1994-1995) of Alliant Techsystems, an NYSE-listed aerospace and defense contractor. He holds a BS (1979), summa cum laude, and an MBA (1980) from the Wharton School of the University of Pennsylvania.

Robert Goldstein


Start Date

Tenure

Tenure Rank

Mar 31, 2015

7.17

7.2%

Mr. Robert Goldstein serves as Managing Principal & Co-Chief Investment Officer at Gotham Asset Management. Mr. Goldstein also founded and served as Managing Partner (1989-1997) of Metropolis Partners, value and special situation investment partnership managing capital on behalf of institutions and wealthy individuals before returning capital to outside investors at the end of 1997. Mr. Goldstein currently serves on the Board of Trustees of the Museum of the City of New York. He holds a BA (1988), magna cum laude, from Tufts University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 39.02 7.25 2.42