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
19.4%
1 yr return
18.5%
3 Yr Avg Return
13.1%
5 Yr Avg Return
6.4%
Net Assets
$102 M
Holdings in Top 10
8.0%
Expense Ratio 1.96%
Front Load N/A
Deferred Load N/A
Turnover 282.00%
Redemption Fee 1.00%
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 investment objective by investing under normal circumstances in long and short positions of equity and equity-related securities, primarily companies traded on U.S. markets. The Fund generally takes 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.
The Adviser seeks to maintain the Fund’s net exposure, which is the value of the Fund’s long positions minus its short positions, in the range of approximately 0% – 30% during normal market conditions. The Fund invests in companies of any size and the Fund holds several hundred long positions and a similar number of short positions.
The Adviser seeks to capitalize on pricing inefficiencies in the market by employing 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 portfolio is weighted most heavily towards those stocks that are priced at the largest discount to the Adviser’s assessment of value. Similarly, the short portfolio is generally weighted most heavily towards those short positions selling at the largest premium to the Adviser’s measures of value. The 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 may invest some or all of the long and short portions of the portfolio, in one or more exchange-traded funds (“ETFs”) or mutual funds that invest (long and/or short) in U.S. securities. 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”).
The Fund currently obtains its long exposure through direct investments in securities and through one or more swaps and its short exposure through one or more swaps. The Fund may obtain some or all of its long and short exposure through investments in other ETFs and mutual funds. The Fund may also 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.
Period | GONIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 19.4% | -11.6% | 15.8% | 7.00% |
1 Yr | 18.5% | -33.0% | 41.7% | 88.35% |
3 Yr | 13.1%* | -10.5% | 13.4% | 95.92% |
5 Yr | 6.4%* | -4.8% | 11.1% | 90.36% |
10 Yr | 2.5%* | -4.6% | 7.6% | N/A |
* Annualized
Period | GONIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.1% | -31.7% | 23.2% | 94.90% |
2022 | 6.6% | -20.7% | 10.7% | 55.67% |
2021 | 19.2% | -12.4% | 14.7% | 57.78% |
2020 | -16.5% | -13.2% | 12.9% | 62.03% |
2019 | -0.4% | -11.7% | 7.9% | 4.29% |
Period | GONIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 19.4% | -11.7% | 15.8% | 7.00% |
1 Yr | 18.5% | -33.0% | 41.7% | 86.41% |
3 Yr | 13.1%* | -10.5% | 13.4% | 92.86% |
5 Yr | 6.4%* | -4.8% | 11.1% | 87.95% |
10 Yr | 2.5%* | -4.6% | 7.6% | N/A |
* Annualized
Period | GONIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.1% | -31.7% | 23.2% | 94.90% |
2022 | 6.6% | -20.7% | 10.7% | 55.67% |
2021 | 19.2% | -12.4% | 14.7% | 74.44% |
2020 | -16.5% | -12.7% | 12.9% | 81.01% |
2019 | -0.4% | -11.5% | 13.2% | 8.57% |
GONIX | Category Low | Category High | GONIX % Rank | |
---|---|---|---|---|
Net Assets | 102 M | 105 K | 12.6 B | 76.92% |
Number of Holdings | 1881 | 5 | 2526 | 13.46% |
Net Assets in Top 10 | 7.44 M | -619 M | 6.53 B | 68.27% |
Weighting of Top 10 | 7.99% | 7.6% | 96.1% | 86.59% |
Weighting | Return Low | Return High | GONIX % Rank | |
---|---|---|---|---|
Stocks | 93.48% | -57.09% | 325.56% | 2.88% |
Other | 6.85% | -11.90% | 43.69% | 100.00% |
Preferred Stocks | 0.00% | 0.00% | 5.67% | 36.54% |
Convertible Bonds | 0.00% | 0.00% | 95.47% | 50.96% |
Cash | 0.00% | -225.56% | 102.75% | 92.31% |
Bonds | 0.00% | -1.04% | 63.30% | 55.77% |
Weighting | Return Low | Return High | GONIX % Rank | |
---|---|---|---|---|
Technology | 20.74% | 0.00% | 100.00% | 51.61% |
Healthcare | 15.81% | 0.00% | 27.28% | 36.56% |
Consumer Cyclical | 15.14% | 0.00% | 29.06% | 9.68% |
Industrials | 14.79% | 0.00% | 27.58% | 12.90% |
Basic Materials | 8.01% | 0.00% | 42.74% | 4.30% |
Communication Services | 7.27% | 0.00% | 33.72% | 55.91% |
Energy | 6.97% | 0.00% | 53.30% | 27.96% |
Consumer Defense | 6.35% | 0.00% | 30.58% | 27.96% |
Financial Services | 2.71% | 0.00% | 98.37% | 90.32% |
Utilities | 2.16% | 0.00% | 66.28% | 58.06% |
Real Estate | 0.05% | 0.00% | 93.91% | 79.57% |
Weighting | Return Low | Return High | GONIX % Rank | |
---|---|---|---|---|
US | 93.48% | -55.82% | 325.56% | 2.88% |
Non US | 0.00% | -7.09% | 86.98% | 22.12% |
GONIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.96% | 0.73% | 9.52% | 34.95% |
Management Fee | 1.50% | 0.13% | 1.65% | 92.31% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.06% | 0.40% | N/A |
GONIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.75% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
GONIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 1.00% | 1.00% | 2.00% | 50.00% |
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.
GONIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 282.00% | 30.00% | 483.00% | 89.89% |
GONIX | Category Low | Category High | GONIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 0.75% | 15.38% |
GONIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Other | Annually | Quarterly | Annually |
GONIX | Category Low | Category High | GONIX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.53% | -2.49% | 4.20% | 79.61% |
GONIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 17, 2015 | $0.063 | CapitalGainLongTerm |
Dec 18, 2014 | $0.242 | CapitalGainShortTerm |
Dec 11, 2013 | $0.038 | CapitalGainShortTerm |
Start Date
Tenure
Tenure Rank
Aug 30, 2013
8.76
8.8%
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.
Start Date
Tenure
Tenure Rank
Aug 30, 2013
8.76
8.8%
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.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 30.59 | 6.3 | 9.42 |
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