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Trending ETFs

Easterly Global Real Estate Fund

mutual fund
JACRX
Payout Change
Pending
Price as of:
$13.0 -0.04 -0.31%
primary theme
International Real Estate
JACRX (Mutual Fund)

Easterly Global Real Estate Fund

Payout Change
Pending
Price as of:
$13.0 -0.04 -0.31%
primary theme
International Real Estate
JACRX (Mutual Fund)

Easterly Global Real Estate Fund

Payout Change
Pending
Price as of:
$13.0 -0.04 -0.31%
primary theme
International Real Estate

Name

As of 06/21/2024

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

$13.00

$431 M

1.51%

$0.20

2.17%

Vitals

YTD Return

-4.8%

1 yr return

4.8%

3 Yr Avg Return

-8.2%

5 Yr Avg Return

-0.7%

Net Assets

$431 M

Holdings in Top 10

40.0%

52 WEEK LOW AND HIGH

$13.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.17%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 160.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/21/2024

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

$13.00

$431 M

1.51%

$0.20

2.17%

JACRX - Profile

Distributions

  • YTD Total Return -4.8%
  • 3 Yr Annualized Total Return -8.2%
  • 5 Yr Annualized Total Return -0.7%
  • Capital Gain Distribution Frequency Quarterly
  • Net Income Ratio -0.11%
DIVIDENDS
  • Dividend Yield 1.5%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Easterly Global Real Estate Fund
  • Fund Family Name
    Saratoga
  • Inception Date
    Jan 05, 2012
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Andrew Duffy

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in real estate and real estate-related issuers or investments that provide exposure to real estate and real estate-related issuers, and in derivatives and other instruments that have economic characteristics similar to such securities. The Fund may invest 100% of its net assets (other than cash and cash equivalents) in real estate investment trusts (“REITs”), and may also invest in other publicly traded real estate securities that are included in the FTSE EPRA/NAREIT Developed Net Index (the “Index”). The Index may include securities of any issuer that derived in the previous full fiscal year at least 75% of its total earnings before interest, taxes, depreciation and amortization (“EBITDA”) from the ownership, trading and development of income-producing real estate. REITs are typically small, medium or large capitalization stocks which fall within the range of $500 million to $50 billion in equity market capitalization. Under normal circumstances, the Fund invests at least 40% of its net assets in the securities of issuers located in at least three foreign countries. The Fund will limit its investments in issuers located in any single foreign country to no more than 25% of its net assets. The Fund also seeks to enhance current income by writing (selling) covered call options with a notional value of up to 30% of the Fund’s net assets. “Notional value” is the value of an option contract’s underlying shares at the current market price. The Fund’s sub-adviser uses both a quantitative screening process and a qualitative stock selection process when selecting securities for investment by the Fund in connection with its strategy.

Quantitative Screening Process - Ranger Global Real Estate Advisors, LLC (“Ranger”), sub-adviser to the Fund, and Green Street Advisors of Newport Beach, California, an independent research and consulting firm concentrating on publicly-traded real estate securities, have designed a proprietary quantitative screening model, the Global Real Estate Investment Model (the “Model”), which the Fund’s sub-adviser uses to identify the securities in which the Fund may invest. The Model identifies approximately 100 qualifying securities for evaluation by the Fund’s sub-adviser (“Qualifying Securities”). Qualifying Securities may include those issued by companies in a variety of sectors within the real estate industry, including, among others, the retail, office, industrial, hotel, healthcare, multi-family and self-storage sectors.

Qualitative Stock Selection Process - All Qualifying Securities are evaluated by the Fund’s sub-adviser in determining appropriate investments for the Fund. The Fund’s sub-adviser generally selects approximately 50 securities from among the approximately 100 Qualifying Securities based on its assessment of certain factors including, but not limited to, management quality, external growth potential, corporate governance, quality and location of assets, lease terms, tenant credit quality, debt structure and financial flexibility. The Fund’s sub-adviser may sell a security held in the Fund’s portfolio when it no longer qualifies under the parameters established by the Fund’s sub-adviser.

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JACRX - Performance

Return Ranking - Trailing

Period JACRX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.8% -14.2% 19.0% 71.58%
1 Yr 4.8% -13.9% 16.0% 83.61%
3 Yr -8.2%* -17.8% 17.8% 87.79%
5 Yr -0.7%* -11.0% 15.9% 69.59%
10 Yr 2.6%* -3.5% 10.5% 49.06%

* Annualized

Return Ranking - Calendar

Period JACRX Return Category Return Low Category Return High Rank in Category (%)
2023 4.5% -16.8% 16.7% 85.08%
2022 -28.5% -43.9% 4.5% 55.68%
2021 9.9% -13.9% 30.7% 81.40%
2020 -9.1% -20.7% 13.7% 73.26%
2019 16.8% 1.0% 26.5% 39.77%

Total Return Ranking - Trailing

Period JACRX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.8% -14.2% 19.0% 71.58%
1 Yr 4.8% -13.9% 16.0% 83.61%
3 Yr -8.2%* -17.8% 17.8% 87.79%
5 Yr -0.7%* -11.0% 15.9% 69.59%
10 Yr 2.6%* -3.5% 10.5% 49.06%

* Annualized

Total Return Ranking - Calendar

Period JACRX Return Category Return Low Category Return High Rank in Category (%)
2023 6.0% -14.6% 23.4% 88.40%
2022 -25.0% -39.5% 10.1% 28.98%
2021 21.1% 5.7% 101.8% 81.98%
2020 -2.3% -17.8% 14.7% 34.30%
2019 30.2% 4.3% 37.2% 9.94%

NAV & Total Return History


JACRX - Holdings

Concentration Analysis

JACRX Category Low Category High JACRX % Rank
Net Assets 431 M 4.27 M 7.19 B 42.78%
Number of Holdings 57 5 682 80.33%
Net Assets in Top 10 173 M 1.84 M 4.29 B 44.26%
Weighting of Top 10 40.04% 19.9% 62.1% 42.31%

Top 10 Holdings

  1. LINK REIT 6.27%
  2. ELLINGTON FINANC 5.19%
  3. UDR INC 4.62%
  4. SUN COMMUNITIES 3.98%
  5. BBH SWEEP VEHICLE 3.84%
  6. ACADIA REALTY 3.59%
  7. PROLOGIS INC 3.19%
  8. AMERICAN HOMES-A 3.17%
  9. CK ASSET HOLDING 3.16%
  10. TRITAX BIG BOX R 3.03%

Asset Allocation

Weighting Return Low Return High JACRX % Rank
Stocks
91.93% 3.11% 126.54% 91.80%
Cash
8.11% 0.00% 10.38% 9.84%
Preferred Stocks
0.00% 0.00% 7.47% 76.50%
Convertible Bonds
0.00% 0.00% 0.07% 73.63%
Bonds
0.00% 0.00% 23.57% 76.50%
Other
-0.04% -33.49% 103.58% 95.63%

Stock Sector Breakdown

Weighting Return Low Return High JACRX % Rank
Real Estate
91.09% 72.53% 100.00% 91.01%
Communication Services
5.18% 0.00% 10.08% 2.81%
Technology
3.74% 0.00% 4.92% 2.81%
Utilities
0.00% 0.00% 0.96% 76.97%
Industrials
0.00% 0.00% 4.91% 78.09%
Healthcare
0.00% 0.00% 1.54% 78.09%
Financial Services
0.00% 0.00% 9.53% 79.21%
Energy
0.00% 0.00% 0.11% 75.84%
Consumer Defense
0.00% 0.00% 0.18% 76.40%
Consumer Cyclical
0.00% 0.00% 13.03% 92.13%
Basic Materials
0.00% 0.00% 1.63% 76.97%

Stock Geographic Breakdown

Weighting Return Low Return High JACRX % Rank
US
49.14% 0.00% 100.72% 82.51%
Non US
42.79% 0.00% 98.96% 16.94%

JACRX - Expenses

Operational Fees

JACRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.17% 0.11% 36.96% 16.94%
Management Fee 0.90% 0.09% 1.50% 79.67%
12b-1 Fee 1.00% 0.00% 1.00% 95.06%
Administrative Fee 0.15% 0.01% 0.25% 92.59%

Sales Fees

JACRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load 1.00% 1.00% 4.00% 84.00%

Trading Fees

JACRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% 60.71%

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.

JACRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 160.00% 1.00% 165.00% 96.05%

JACRX - Distributions

Dividend Yield Analysis

JACRX Category Low Category High JACRX % Rank
Dividend Yield 1.51% 0.00% 5.52% 90.16%

Dividend Distribution Analysis

JACRX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Quarterly Annual

Net Income Ratio Analysis

JACRX Category Low Category High JACRX % Rank
Net Income Ratio -0.11% -0.23% 3.84% 99.44%

Capital Gain Distribution Analysis

JACRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Quarterly Annually Semi-Annually Annually

Distributions History

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JACRX - Fund Manager Analysis

Managers

Andrew Duffy


Start Date

Tenure

Tenure Rank

Oct 26, 2009

12.6

12.6%

Andrew J. Duffy, CFA is the Portfolio Manager primarily responsible for the day-to-day management of the segment of the Portfolio’s assets managed by Ranger. Mr. Duffy is the President and Chief Investment Officer of Ranger since June 2016 and has over 27 years of global real estate securities experience in the private and public markets. Mr. Duffy was formerly President of Ascent Investment Advisors, LLC (“Ascent”) from February 2009 to May 2016 and Portfolio Manager of Ascent from February 2009 to November 2016. Prior to 2009, Mr. Duffy was a Managing Director with Citigroup Principal Strategies, where he managed a long-short portfolio of global real estate securities. Prior to his time at Citigroup, Mr. Duffy was the Co-Portfolio Manager of the Hunter Global Real Estate Fund. From 1999 until 2006, Mr. Duffy was a Portfolio Manager at TIAA-CREF, where he was responsible for managing over $3 billion in global real estate equity and debt securities. Between 1993 and 1999, Mr. Duffy was a Senior Research Analyst at Eagle Asset Management, where he launched and managed a dedicated real estate securities investment program in which he was responsible for fundamental analysis, securities selection and portfolio construction. His other professional experience includes service as a Partner at Raymond James & Associates where, as an investment banker, he managed public offerings and advised on mergers and acquisitions. Prior to his career in investments, Mr. Duffy served for five years as an officer in the United States Army, where his assignments included serving as a detachment commander in the 7th Special Forces Group and as company executive officer and platoon leader in the 82nd Airborne Division. Mr. Duffy received a Bachelor of Science degree in 1979 from the United States Military Academy at West Point as a Distinguished Graduate (top 5% of his class). He also received a Master of Business Administration degree in 1986 from the Harvard Business School. Mr. Duffy earned the Chartered Financial Analyst designation in 1997.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 20.42 7.11 10.42