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Trending ETFs

Kensington Dynamic Growth Fund

mutual fund
KAGAX
Payout Change
Pending
Price as of:
$10.87 +0.11 +1.02%
primary theme
Tactical Allocation
KAGAX (Mutual Fund)

Kensington Dynamic Growth Fund

Payout Change
Pending
Price as of:
$10.87 +0.11 +1.02%
primary theme
Tactical Allocation
KAGAX (Mutual Fund)

Kensington Dynamic Growth Fund

Payout Change
Pending
Price as of:
$10.87 +0.11 +1.02%
primary theme
Tactical Allocation

Name

As of 10/04/2024

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

$10.87

$1.2 B

2.02%

$0.22

1.68%

Vitals

YTD Return

-5.1%

1 yr return

2.4%

3 Yr Avg Return

-2.4%

5 Yr Avg Return

N/A

Net Assets

$1.2 B

Holdings in Top 10

99.7%

52 WEEK LOW AND HIGH

$10.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.68%

SALES FEES

Front Load 4.75%

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/04/2024

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

$10.87

$1.2 B

2.02%

$0.22

1.68%

KAGAX - Profile

Distributions

  • YTD Total Return -5.1%
  • 3 Yr Annualized Total Return -2.4%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -1.06%
DIVIDENDS
  • Dividend Yield 2.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Kensington Dynamic Growth Fund
  • Fund Family Name
    Quantified Funds
  • Inception Date
    Oct 23, 2020
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Bruce DeLaurentis

Fund Description

The Fund is designed to provide equity-like returns, but with the potential to reduce volatility and drawdown (i.e., the risk of a decline in investment value during a decline in the U.S. equity markets) that comes with passive investment in equities. Kensington Asset Management, LLC (the “Adviser”) seeks to achieve the Fund’s investment objective by investing the Fund’s assets to gain exposure to (i) domestic equity securities or (ii) cash, cash equivalents, and U.S. Treasury securities based on a proprietary “Dynamic Growth Model” that looks at trends in the U.S. equity market. The Dynamic Growth Model uses daily price information with respect to multiple broad-based U.S. equity indices (e.g., open, close, high, and low prices) to identify and evaluate market trends and volatility to determine whether market conditions favor a “Risk-On” portfolio exposed to U.S. equity securities or a “Risk-Off” portfolio exposed to cash, cash equivalents, or U.S. Treasury securities. The Dynamic Growth Model looks for trends developing over multiple time periods (e.g., weeks, months, or years) to signal a change from Risk-On to Risk-Off or vice versa, and the Adviser will generally turn over approximately 100% of the portfolio’s exposures when the Dynamic Growth Model signals a change. Depending on market conditions, such turnover from Risk-On to Risk-Off or vice versa may take up to several days to a week, and the Fund may have significant portfolio turnover from year to year. The Adviser generally expects such changes to occur approximately eight to twelve times annually based on historic trends in the U.S. equity market.
In its Risk-On position, the Fund will gain exposure to equity securities primarily by investing in one or more of the following investment types (1) exchange-traded funds (“ETFs”) (“underlying funds”) that track the returns of a broad-based U.S. equity market index, (2) individual equity securities, and/or (3) equity index futures. The types of investments used to gain the Fund’s exposures to equity securities (i.e., other mutual funds and ETFs, individual equity securities, futures, etc.), and the allocation to each, is determined by several factors related to each investment type when the investment is made, including but not limited to, capacity constraints, the expected duration of the trade, fees or commissions, and the quality of beta (i.e., sensitivity to the securities markets) offered by the investment type. The use of futures contracts is just one option that the Fund may use and such use is determined in the same manner as the other investments.
The Fund’s equity exposure may include companies of any market capitalization, and equity indices to which the Fund gains exposure may be based on certain factors, such as value- or growth-oriented companies. The specific equity securities in which the Fund invests or has exposure to is determined by the Adviser’s systematic investment approach, which takes into account several key elements, including but not limited to, the evaluation of relative value and prevailing trends between value and growth equities, along with the current and anticipated market environment. The Fund may also take short positions from time to time to hedge or offset existing long positions. In its Risk-Off position, the Fund will primarily hold cash or cash equivalents or invest directly or indirectly in underlying funds that invest in U.S. Treasury securities of various maturities. The Fund may also take short positions in the Risk-Off position to offset existing long holdings from when the Fund was in the Risk-On position.
The Dynamic Growth Model is built upon a core of trend-following logic that generates signals on a weekly basis. To avoid generating false signals directing a change to or from a Risk-On or Risk-Off state, the model also employs noise-filtering enhancements to dampen the distorting impact of short-term price aberrations that are characteristic of volatile markets. This noise filter operates by causing the model to disregard relatively large short-term changes in inputs that are not indicative of a longer-term trend. For example, the model considers short-term data that is not supported by longer-term trends as indicative of “noise”. The model also seeks to mitigate such noise by being run on a weekly, rather than daily basis. Additionally, the model employs certain counter-trend indicators that seek to identify when the equity market is overbought or oversold independent of whether the model anticipates a favorable or unfavorable equity market. For example, if the model determines that market conditions are favorable for equities, but equities are overbought, the model would signal a “Risk-Off” position. To the contrary, if the model determines that market conditions are not favorable for equities, but equities are oversold, the model would signal a “Risk-On” position.
In selecting underlying funds, the Adviser considers the performance, relative fees, management experience, and underlying portfolio composition and strategy of such underlying funds. The Fund is non-diversified, which means it may invest a high percentage of its assets in a limited number of securities.
The Fund may lend its portfolio securities to brokers, dealers, and other financial organizations. These loans, if and when made, may not exceed 33 1/3% of the total asset value of the Fund (including the loan collateral). By lending its securities, the Fund may increase its income by receiving payments from the borrower.
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KAGAX - Performance

Return Ranking - Trailing

Period KAGAX Return Category Return Low Category Return High Rank in Category (%)
YTD -5.1% -5.6% 24.3% 99.54%
1 Yr 2.4% -2.9% 49.0% 98.16%
3 Yr -2.4%* -18.9% 12.4% 91.63%
5 Yr N/A* -11.9% 24.8% N/A
10 Yr N/A* -4.5% 10.2% N/A

* Annualized

Return Ranking - Calendar

Period KAGAX Return Category Return Low Category Return High Rank in Category (%)
2023 14.1% -18.9% 60.2% 12.50%
2022 -9.9% -48.5% 0.1% 14.42%
2021 11.5% -19.0% 48.3% 14.95%
2020 N/A -16.5% 52.8% N/A
2019 N/A -8.5% 26.6% N/A

Total Return Ranking - Trailing

Period KAGAX Return Category Return Low Category Return High Rank in Category (%)
YTD -5.1% -5.6% 24.3% 99.54%
1 Yr 2.4% -2.9% 49.0% 98.16%
3 Yr -2.4%* -18.9% 12.4% 91.63%
5 Yr N/A* -11.9% 24.8% N/A
10 Yr N/A* -4.5% 10.2% N/A

* Annualized

Total Return Ranking - Calendar

Period KAGAX Return Category Return Low Category Return High Rank in Category (%)
2023 15.3% -11.7% 61.8% 14.81%
2022 -9.0% -48.5% 4.6% 22.33%
2021 11.5% -14.2% 48.3% 50.00%
2020 N/A -11.7% 77.4% N/A
2019 N/A -3.9% 28.4% N/A

NAV & Total Return History


KAGAX - Holdings

Concentration Analysis

KAGAX Category Low Category High KAGAX % Rank
Net Assets 1.2 B 1.98 M 12.4 B 17.05%
Number of Holdings 2 2 2274 100.00%
Net Assets in Top 10 1.38 B 1.55 M 9.46 B 10.60%
Weighting of Top 10 99.74% 20.8% 109.8% 13.82%

Top 10 Holdings

  1. US BANK MMDA - USBGFS 9 99.38%
  2. United States Treasury Bill 0.36%

Asset Allocation

Weighting Return Low Return High KAGAX % Rank
Cash
99.64% -33.22% 99.64% 1.38%
Bonds
0.36% 0.00% 106.59% 39.17%
Stocks
0.00% 0.00% 145.83% 98.16%
Preferred Stocks
0.00% -0.09% 5.36% 76.04%
Other
0.00% -29.71% 135.29% 79.72%
Convertible Bonds
0.00% 0.00% 8.92% 87.10%

Bond Sector Breakdown

Weighting Return Low Return High KAGAX % Rank
Cash & Equivalents
99.38% 0.00% 99.38% 1.38%
Government
59.97% 0.00% 99.78% 19.35%
Derivative
0.00% -15.85% 135.29% 75.58%
Securitized
0.00% 0.00% 52.99% 85.71%
Corporate
0.00% 0.00% 95.17% 92.63%
Municipal
0.00% 0.00% 19.13% 84.79%

Bond Geographic Breakdown

Weighting Return Low Return High KAGAX % Rank
US
0.36% 0.00% 92.67% 39.17%
Non US
0.00% 0.00% 26.57% 78.34%

KAGAX - Expenses

Operational Fees

KAGAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.68% 0.45% 10.24% 54.38%
Management Fee 1.25% 0.00% 1.50% 96.77%
12b-1 Fee 0.25% 0.00% 1.00% 57.64%
Administrative Fee N/A 0.05% 0.70% N/A

Sales Fees

KAGAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.75% 2.50% 5.75% 80.56%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

KAGAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

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.

KAGAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.75% 441.00% 89.91%

KAGAX - Distributions

Dividend Yield Analysis

KAGAX Category Low Category High KAGAX % Rank
Dividend Yield 2.02% 0.00% 24.95% 70.97%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

KAGAX Category Low Category High KAGAX % Rank
Net Income Ratio -1.06% -2.01% 13.72% 90.78%

Capital Gain Distribution Analysis

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

Distributions History

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KAGAX - Fund Manager Analysis

Managers

Bruce DeLaurentis


Start Date

Tenure

Tenure Rank

Oct 23, 2020

1.6

1.6%

Mr. DeLaurentis’ investment experience began in 1969 as an active trader and student of the stock market. In 1977 he became a registered representative with Underwood, Neuhaus & Co. in Dallas, TX. He adopted the Kensington name in 1984. The firm specializes in developing quantitative decision models that apply to the equity and fixed income markets and has licensed these models to a variety of financial firms over the years. Kensington received the highest national ranking for equity market performance by MoniResearch Newsletter, an independent rating service, for the period 1984 to 1987. Starting in 1992, he shifted focus to high-yield corporate bonds using separately managed accounts. He is a founding member of The National Association of Active Investment Managers (NAAIM). Since 1992, Mr. DeLaurentis has guided the Kensington Managed Income program through two major bear markets, 2000 to 2002, and 2007 to 2009 with positive outcomes in both instances. Over that time, Managed Income has compiled one of the best track records in the U.S. for a tactical high-yield bond strategy. All of the quantitative/mathematical algorithms that drive Managed Income were created by Mr. DeLaurentis who is now broadening the product suite at Kensington. The new product suite includes several equity products along with the firm’s fixed-income offerings. Mr. DeLaurentis is spearheading a new growth cycle at Kensington which entails moving the company onto an array of institutional platforms so that a broader cross-section of the investment community will be able to access Kensington’s elite risk-mitigated outcomes. He attended the Massachusetts Institute of Technology and graduated in 1975 from Hofstra University in New York with a bachelor’s degree in economics. He was a chief warrant officer in the U.S. Army and served as a helicopter pilot. Following a tour in Vietnam from 1967 to 1968, he served as an instructor pilot. Mr. DeLaurentis is currently an Investment Advisor Representative with Advisors Preferred, LLC.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.83 6.67 13.0