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 12/06/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
18.2%
1 yr return
20.8%
3 Yr Avg Return
12.2%
5 Yr Avg Return
8.6%
Net Assets
$139 M
Holdings in Top 10
96.4%
Expense Ratio 2.78%
Front Load N/A
Deferred Load 1.00%
Turnover 44.00%
Redemption Fee N/A
Standard (Taxable)
$2,500
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/06/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Under normal market conditions, the Fund will seek to achieve its objective by combining a long equity strategy with an options hedging strategy that seeks to provide protection during significant equity market downturns. The long equity strategy seeks to replicate the returns of the S&P 500® Index and to enhance these returns through the use of leverage. The Fund may use swaps to gain exposure to one or more asset classes, individual investments or investment strategies, as well as to generate leverage or hedge the Fund’s exposure to an asset class, individual investment or group of investments. The Fund will achieve exposure to S&P 500® Index companies primarily through exchange-traded funds (“ETFs”), mutual funds, and closed-end funds but may also gain exposure through direct investment in common and preferred stocks.
The Fund’s options hedging strategy seeks to reduce the risk associated with the Fund’s long equity exposure from modest market downturns (e.g., a drop of between 6% and 8% in the value of the S&P 500® Index). Conventional put spreads consist of buying slightly out of the money put options and selling put options that are further out of the money with the same expiration. Typically, the notional value of the put spreads will be larger than the Fund’s exposure from its long equity strategy. The Fund expects primarily to use listed exchange-traded options. When market volatility is high, the Fund may also sell (write) covered call options to generate additional income.
The Fund’s sub-adviser may also seek to enhance the returns of the Fund’s long equity strategy by buying or selling options on ETFs whose strategies seek to minimize volatility (volatility ETFs). This strategy will be used opportunistically to express the Fund’s sub-adviser’s views on whether actual market volatility will be higher or lower than expected volatility. This strategy will include either buying long put or call options on volatility ETFs or employing a covered option spread on volatility ETFs. A covered option spread will consist of buying (or selling) slightly out of the money call or put options and selling (or buying) call or put options that are further out of the money with the same expiration.
Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of U.S. issuers or investments that provide exposure to equity securities of U.S. issuers, and in derivatives and other instruments that have economic characteristics similar to such securities. The Fund may invest in equity securities without regard to market capitalization.
The Fund intends to borrow money from banks to create leverage of up to 30% of the Fund’s assets. The Fund plans to invest the assets obtained through leverage in additional instruments that provide exposure to the S&P 500® Index companies as well as in additional options as part of the Fund’s hedging strategies. The Fund will therefore have long exposure of up to 130% of its assets.
The Fund’s sub-adviser uses proprietary valuation methods and risk measures as well as publicly available data regarding market volatility levels in managing the hedging strategies. The Fund’s sub-adviser considers multiple factors in determining how much leverage to employ and expected market volatility levels, such as premium at risk (i.e., the amount of net option premiums paid in implementing the hedging strategy), the time to expiration of options, the rate that options lose value as they near maturity (known as Theta), the risk of gain or loss resulting from changes in volatility (known as Vega), and the notional exposure of the options relative to the Fund’s long positions. The Fund’s sub-adviser’s proprietary option valuation methods will be used to determine when to use a particular option strategy and when to realize gains on the Fund’s options positions.
Period | JDCEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 18.2% | -2.8% | 240.8% | 57.71% |
1 Yr | 20.8% | -4.3% | 140.6% | 81.30% |
3 Yr | 12.2%* | -8.3% | 18.3% | 61.54% |
5 Yr | 8.6%* | -5.0% | 17.3% | 71.19% |
10 Yr | N/A* | -4.6% | 13.2% | N/A |
* Annualized
Period | JDCEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.3% | -34.1% | 904.0% | 73.87% |
2022 | -6.1% | -28.6% | 438.4% | 66.47% |
2021 | 1.3% | -93.5% | 8.2% | 44.14% |
2020 | -0.9% | -38.9% | 19.8% | 62.79% |
2019 | 8.6% | -10.9% | 12.8% | 60.19% |
Period | JDCEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 18.2% | -2.7% | 244.0% | 57.71% |
1 Yr | 20.8% | -4.3% | 140.6% | 80.87% |
3 Yr | 12.2%* | -8.3% | 18.3% | 58.33% |
5 Yr | 8.6%* | -5.4% | 17.3% | 67.80% |
10 Yr | N/A* | -4.6% | 13.2% | N/A |
* Annualized
Period | JDCEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.6% | -34.1% | 904.0% | 73.87% |
2022 | -3.8% | -5.9% | 438.4% | 67.05% |
2021 | 10.2% | -81.2% | 8.2% | 5.52% |
2020 | 5.9% | -29.0% | 19.8% | 75.19% |
2019 | 10.8% | -10.9% | 12.8% | 74.76% |
JDCEX | Category Low | Category High | JDCEX % Rank | |
---|---|---|---|---|
Net Assets | 139 M | 25 | 17.4 B | 71.54% |
Number of Holdings | 11 | 2 | 508 | 57.63% |
Net Assets in Top 10 | 169 M | -6.66 M | 5.12 B | 51.91% |
Weighting of Top 10 | 96.36% | 11.3% | 100.0% | 9.33% |
Weighting | Return Low | Return High | JDCEX % Rank | |
---|---|---|---|---|
Stocks | 85.12% | -3.92% | 100.76% | 81.30% |
Cash | 10.30% | -0.76% | 100.29% | 24.05% |
Preferred Stocks | 0.00% | 0.00% | 3.08% | 71.76% |
Convertible Bonds | 0.00% | 0.00% | 20.91% | 72.52% |
Bonds | 0.00% | 0.00% | 97.96% | 73.28% |
Other | -0.11% | 0.00% | 45.92% | 3.05% |
Weighting | Return Low | Return High | JDCEX % Rank | |
---|---|---|---|---|
Technology | 24.69% | 0.00% | 44.43% | 25.63% |
Healthcare | 14.29% | 0.00% | 25.91% | 42.44% |
Financial Services | 13.16% | 0.00% | 29.60% | 44.12% |
Consumer Cyclical | 11.22% | 0.00% | 19.02% | 61.76% |
Communication Services | 8.64% | 0.00% | 21.22% | 27.31% |
Industrials | 8.27% | 1.41% | 43.91% | 61.76% |
Consumer Defense | 7.33% | 0.00% | 22.87% | 74.37% |
Energy | 4.17% | 0.00% | 69.54% | 39.92% |
Real Estate | 2.92% | 0.00% | 9.74% | 66.39% |
Utilities | 2.87% | 0.00% | 13.35% | 73.53% |
Basic Materials | 2.44% | 0.00% | 60.58% | 65.13% |
Weighting | Return Low | Return High | JDCEX % Rank | |
---|---|---|---|---|
US | 85.12% | -3.89% | 100.00% | 70.61% |
Non US | 0.00% | -2.17% | 99.33% | 77.48% |
JDCEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.78% | 0.20% | 6.78% | 6.17% |
Management Fee | 1.20% | 0.20% | 1.75% | 91.04% |
12b-1 Fee | 1.00% | 0.00% | 1.00% | 95.98% |
Administrative Fee | 0.15% | 0.02% | 0.28% | 73.47% |
JDCEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 4.75% | 5.75% | N/A |
Deferred Load | 1.00% | 1.00% | 1.00% | 75.00% |
JDCEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 47.92% |
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.
JDCEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 44.00% | 0.00% | 456.80% | 93.75% |
JDCEX | Category Low | Category High | JDCEX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 3.76% | 73.98% |
JDCEX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annually | Monthly | Annually |
JDCEX | Category Low | Category High | JDCEX % Rank | |
---|---|---|---|---|
Net Income Ratio | -1.31% | -2.54% | 14.24% | 96.72% |
JDCEX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 07, 2023 | $0.026 | CapitalGainShortTerm |
Dec 08, 2022 | $0.245 | CapitalGainLongTerm |
Dec 09, 2021 | $0.902 | OrdinaryDividend |
Dec 24, 2020 | $0.653 | OrdinaryDividend |
Jul 22, 2020 | $0.039 | OrdinaryDividend |
Dec 24, 2019 | $0.197 | CapitalGainShortTerm |
Dec 24, 2019 | $0.012 | CapitalGainLongTerm |
Dec 13, 2018 | $0.441 | CapitalGainShortTerm |
Dec 13, 2018 | $0.245 | CapitalGainLongTerm |
Dec 13, 2018 | $0.227 | OrdinaryDividend |
Dec 18, 2017 | $0.167 | OrdinaryDividend |
Dec 21, 2015 | $0.007 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Jul 31, 2015
6.84
6.8%
Edward Boll is the Founder, Chief Executive Officer, and Director of Portfolio Management of EAB Investment Group, LLC, prior to which he was the co-Founder of DC Trading Partners, LLC; a senior portfolio manager at Goldman Sachs SLK Hull Derivatives Group; and Founder of TFM Investment Group, New York Division.
Start Date
Tenure
Tenure Rank
Jul 31, 2015
6.84
6.8%
William Visconto is the Founder, President and Director of Risk Management at EAB Investment Group, LLC. Previously, Mr. Visconto was Head Volatility Trader at McGowan Investors LLC; co-Founder of Volare Capital; and Head of Portfolio Management and Trading Floor Operations for PFTC Advisors and PFTC Trading.
Start Date
Tenure
Tenure Rank
Jul 31, 2015
6.84
6.8%
James Ryan is the Director of Strategy Development at EAB Investment Group, LLC. Previously, Mr. Ryan co-founded RB Derivatives LP, a quantitative equity trading firm. In 1990, Mr. Ryan co-founded Heard Trading, LLC. Heard Trading, LLC specialized in proprietary option trading and ETF arbitrage.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 19.77 | 3.61 | 5.67 |
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