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 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
7.2%
1 yr return
11.0%
3 Yr Avg Return
1.3%
5 Yr Avg Return
1.3%
Net Assets
$17 M
Holdings in Top 10
24.3%
Expense Ratio 1.09%
Front Load N/A
Deferred Load N/A
Turnover N/A
Redemption Fee N/A
Standard (Taxable)
$1,000
IRA
$250
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
To achieve its investment objective, the Fund invests at least 95% of its assets in U.S. Government and agency mortgage-backed securities ("MBS" ) and other securities issued or guaranteed by the U.S. Government, its agencies or instrumentalities (including Ginnie Mae, Fannie Mae and Freddie Mac, as defined below), and collateralized mortgage obligations ("CMOs" ), backed by U.S. Government and agency MBS. Some of the Fund's investments may be backed by the full faith and credit of the U.S. Government, while others may be supported only by the discretionary authority of the U.S. Government or only by the credit of the issuing agency or instrumentality.
Under normal market conditions, the target dollar-weighted average effective duration for the Fund is expected to range between one and three years. Duration is a measure of a fixed income security's price sensitivity to changes in interest rates. Duration takes into account a security's cash flows over time, including the possibility that a security might be prepaid by the issuer or redeemed by the holder prior to its stated maturity date. In contrast, maturity measures only the time until final payment is due. The duration of the Fund's portfolio is expressed in years and measures the portfolio's change in value for changes in interest rates. The Fund may also invest in U.S. Treasury bills. The securities held by the Fund may be fixed or variable rate obligations. The Fund may also purchase securities on a when-issued or delayed-delivery basis.
To construct the Fund's investment portfolio, the Fund's investment sub-adviser, M.D. Sass , LLC ("M.D. Sass" or "Sub-Adviser" ), utilizes a process based on rigorous quantitative tests. These tests include projecting underlying mortgage prepayment rates under a variety of interest rate scenarios and demographic trends, with regard to any given security's sensitivity to cash flow risk. The nature of such testing is to measure homeowner refinancing/prepayment behavior, relative to mortgage rate changes, and other factors influencing such behavior. The Sub-Adviser's process is primarily structured to create value through intensive (i.e. bottom-up) security selection, portfolio construction and relative value trading. Top-down macro issues and factors are incorporated into the process when considered by the Sub-Adviser to be appropriate.
The Sub-Adviser may sell a security if its value becomes unattractive, such as when its fundamentals deteriorate, or when other investment opportunities exist that may have more attractive yields. The Fund may engage in frequent and active trading of securities as a part of its principal investment strategy.
Period | MDSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.2% | 2.1% | 6.9% | 1.27% |
1 Yr | 11.0% | 4.1% | 11.0% | 1.27% |
3 Yr | 1.3%* | -1.9% | 2.8% | 14.10% |
5 Yr | 1.3%* | -0.8% | 2.0% | 25.68% |
10 Yr | 1.3%* | -0.2% | 1.6% | 9.38% |
* Annualized
Period | MDSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.7% | -1.6% | 4.4% | 5.06% |
2022 | -8.0% | -10.4% | -1.0% | 69.23% |
2021 | -3.0% | -6.4% | -0.2% | 73.08% |
2020 | -1.6% | -1.8% | 4.9% | 91.89% |
2019 | 0.0% | -1.4% | 3.3% | 84.72% |
Period | MDSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.2% | 2.1% | 6.9% | 1.27% |
1 Yr | 11.0% | 4.1% | 11.0% | 1.27% |
3 Yr | 1.3%* | -1.9% | 2.8% | 14.10% |
5 Yr | 1.3%* | -0.8% | 2.0% | 25.68% |
10 Yr | 1.3%* | -0.2% | 1.6% | 9.38% |
* Annualized
Period | MDSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.5% | 2.4% | 6.2% | 25.32% |
2022 | -6.9% | -9.3% | 0.2% | 82.05% |
2021 | -0.9% | -3.1% | 0.1% | 29.49% |
2020 | 2.8% | 0.4% | 6.0% | 78.38% |
2019 | 3.5% | 1.1% | 5.5% | 38.89% |
MDSIX | Category Low | Category High | MDSIX % Rank | |
---|---|---|---|---|
Net Assets | 17 M | 11.1 M | 24.8 B | 98.73% |
Number of Holdings | 121 | 7 | 1024 | 63.29% |
Net Assets in Top 10 | 4.09 M | 1.76 M | 7.82 B | 98.73% |
Weighting of Top 10 | 24.31% | 15.5% | 100.0% | 89.87% |
Weighting | Return Low | Return High | MDSIX % Rank | |
---|---|---|---|---|
Bonds | 99.10% | 70.68% | 127.20% | 37.97% |
Cash | 0.90% | 0.00% | 23.11% | 46.84% |
Stocks | 0.00% | 0.00% | 1.65% | 91.14% |
Preferred Stocks | 0.00% | 0.00% | 0.00% | 91.14% |
Other | 0.00% | -25.01% | 30.75% | 75.95% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 91.03% |
Weighting | Return Low | Return High | MDSIX % Rank | |
---|---|---|---|---|
Securitized | 83.84% | 0.00% | 100.00% | 14.10% |
Government | 8.66% | 0.00% | 99.96% | 87.18% |
Derivative | 0.00% | -0.95% | 11.49% | 70.89% |
Cash & Equivalents | 0.00% | 0.00% | 23.11% | 98.73% |
Corporate | 0.00% | 0.00% | 34.19% | 92.31% |
Municipal | 0.00% | 0.00% | 6.22% | 93.59% |
Weighting | Return Low | Return High | MDSIX % Rank | |
---|---|---|---|---|
US | 99.10% | 70.68% | 127.20% | 37.97% |
Non US | 0.00% | 0.00% | 0.00% | 91.14% |
MDSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.09% | 0.03% | 2.91% | 27.85% |
Management Fee | 0.30% | 0.03% | 0.80% | 37.18% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.10% | 0.45% | 18.87% |
MDSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.50% | 4.75% | N/A |
Deferred Load | N/A | 0.50% | 1.00% | N/A |
MDSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.00% | 0.25% | N/A |
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.
MDSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 466.00% | 40.00% |
MDSIX | Category Low | Category High | MDSIX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.88% | 0.00% | 5.67% | 63.29% |
MDSIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
MDSIX | Category Low | Category High | MDSIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.38% | -0.78% | 3.29% | 2.63% |
MDSIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Sep 26, 2024 | $0.028 | OrdinaryDividend |
Aug 28, 2024 | $0.036 | OrdinaryDividend |
Jul 29, 2024 | $0.030 | OrdinaryDividend |
Apr 26, 2024 | $0.039 | OrdinaryDividend |
Mar 26, 2024 | $0.021 | OrdinaryDividend |
Feb 27, 2024 | $0.027 | OrdinaryDividend |
Jan 29, 2024 | $0.035 | OrdinaryDividend |
Dec 27, 2023 | $0.028 | OrdinaryDividend |
Nov 28, 2023 | $0.028 | OrdinaryDividend |
Oct 27, 2023 | $0.012 | OrdinaryDividend |
Sep 27, 2023 | $0.013 | OrdinaryDividend |
Aug 29, 2023 | $0.041 | OrdinaryDividend |
Jul 27, 2023 | $0.002 | OrdinaryDividend |
Jun 28, 2023 | $0.014 | OrdinaryDividend |
Oct 27, 2022 | $0.009 | OrdinaryDividend |
Sep 28, 2022 | $0.001 | OrdinaryDividend |
Aug 29, 2022 | $0.007 | OrdinaryDividend |
Jun 28, 2022 | $0.012 | OrdinaryDividend |
May 26, 2022 | $0.014 | OrdinaryDividend |
Apr 27, 2022 | $0.010 | OrdinaryDividend |
Mar 29, 2022 | $0.016 | OrdinaryDividend |
Feb 24, 2022 | $0.017 | OrdinaryDividend |
Jan 27, 2022 | $0.018 | OrdinaryDividend |
Dec 29, 2021 | $0.014 | OrdinaryDividend |
Nov 26, 2021 | $0.020 | OrdinaryDividend |
Oct 27, 2021 | $0.014 | OrdinaryDividend |
Sep 28, 2021 | $0.015 | OrdinaryDividend |
Aug 27, 2021 | $0.018 | OrdinaryDividend |
Jul 28, 2021 | $0.016 | OrdinaryDividend |
Jun 28, 2021 | $0.017 | OrdinaryDividend |
May 26, 2021 | $0.014 | OrdinaryDividend |
Apr 28, 2021 | $0.017 | OrdinaryDividend |
Mar 29, 2021 | $0.020 | OrdinaryDividend |
Feb 24, 2021 | $0.016 | OrdinaryDividend |
Jan 27, 2021 | $0.010 | OrdinaryDividend |
Dec 29, 2020 | $0.050 | OrdinaryDividend |
Nov 25, 2020 | $0.026 | OrdinaryDividend |
Oct 28, 2020 | $0.024 | OrdinaryDividend |
Sep 28, 2020 | $0.052 | OrdinaryDividend |
Aug 27, 2020 | $0.047 | OrdinaryDividend |
Jul 29, 2020 | $0.017 | OrdinaryDividend |
Jun 26, 2020 | $0.015 | OrdinaryDividend |
May 27, 2020 | $0.011 | OrdinaryDividend |
Apr 28, 2020 | $0.045 | OrdinaryDividend |
Mar 27, 2020 | $0.033 | OrdinaryDividend |
Feb 26, 2020 | $0.022 | OrdinaryDividend |
Jan 29, 2020 | $0.058 | OrdinaryDividend |
Dec 30, 2019 | $0.028 | OrdinaryDividend |
Nov 27, 2019 | $0.039 | OrdinaryDividend |
Oct 30, 2019 | $0.011 | OrdinaryDividend |
Sep 27, 2019 | $0.015 | OrdinaryDividend |
Aug 29, 2019 | $0.031 | OrdinaryDividend |
Jul 30, 2019 | $0.059 | OrdinaryDividend |
Jun 27, 2019 | $0.035 | OrdinaryDividend |
May 30, 2019 | $0.029 | OrdinaryDividend |
Apr 29, 2019 | $0.028 | OrdinaryDividend |
Mar 28, 2019 | $0.015 | OrdinaryDividend |
Feb 27, 2019 | $0.007 | OrdinaryDividend |
Jan 30, 2019 | $0.026 | OrdinaryDividend |
Dec 28, 2018 | $0.026 | OrdinaryDividend |
Nov 29, 2018 | $0.023 | OrdinaryDividend |
Oct 30, 2018 | $0.018 | OrdinaryDividend |
Sep 27, 2018 | $0.019 | OrdinaryDividend |
Aug 30, 2018 | $0.031 | OrdinaryDividend |
Jul 30, 2018 | $0.044 | OrdinaryDividend |
Jun 28, 2018 | $0.034 | OrdinaryDividend |
May 30, 2018 | $0.042 | OrdinaryDividend |
Apr 27, 2018 | $0.036 | OrdinaryDividend |
Mar 28, 2018 | $0.016 | OrdinaryDividend |
Feb 27, 2018 | $0.031 | OrdinaryDividend |
Jan 30, 2018 | $0.021 | OrdinaryDividend |
Dec 28, 2017 | $0.011 | OrdinaryDividend |
Nov 29, 2017 | $0.027 | OrdinaryDividend |
Oct 30, 2017 | $0.028 | OrdinaryDividend |
Sep 28, 2017 | $0.013 | OrdinaryDividend |
Aug 30, 2017 | $0.008 | OrdinaryDividend |
Jul 28, 2017 | $0.041 | OrdinaryDividend |
Jun 29, 2017 | $0.025 | OrdinaryDividend |
May 30, 2017 | $0.021 | OrdinaryDividend |
Apr 27, 2017 | $0.025 | OrdinaryDividend |
Mar 30, 2017 | $0.029 | OrdinaryDividend |
Feb 27, 2017 | $0.029 | OrdinaryDividend |
Jan 30, 2017 | $0.025 | OrdinaryDividend |
Dec 29, 2016 | $0.031 | OrdinaryDividend |
Nov 29, 2016 | $0.021 | OrdinaryDividend |
Oct 28, 2016 | $0.027 | OrdinaryDividend |
Sep 29, 2016 | $0.030 | OrdinaryDividend |
Aug 30, 2016 | $0.034 | OrdinaryDividend |
Jul 28, 2016 | $0.014 | OrdinaryDividend |
Jun 29, 2016 | $0.014 | OrdinaryDividend |
May 27, 2016 | $0.020 | OrdinaryDividend |
Apr 28, 2016 | $0.014 | OrdinaryDividend |
Mar 30, 2016 | $0.015 | OrdinaryDividend |
Feb 26, 2016 | $0.007 | OrdinaryDividend |
Jan 28, 2016 | $0.009 | OrdinaryDividend |
Dec 30, 2015 | $0.023 | OrdinaryDividend |
Nov 25, 2015 | $0.009 | OrdinaryDividend |
Oct 29, 2015 | $0.011 | OrdinaryDividend |
Sep 29, 2015 | $0.016 | OrdinaryDividend |
Aug 28, 2015 | $0.018 | OrdinaryDividend |
Jul 30, 2015 | $0.019 | OrdinaryDividend |
Jun 29, 2015 | $0.031 | OrdinaryDividend |
May 28, 2015 | $0.039 | OrdinaryDividend |
Apr 29, 2015 | $0.039 | OrdinaryDividend |
Mar 30, 2015 | $0.014 | OrdinaryDividend |
Feb 26, 2015 | $0.013 | OrdinaryDividend |
Jan 29, 2015 | $0.004 | OrdinaryDividend |
Dec 30, 2014 | $0.032 | OrdinaryDividend |
Nov 26, 2014 | $0.014 | OrdinaryDividend |
Oct 30, 2014 | $0.012 | OrdinaryDividend |
Sep 29, 2014 | $0.017 | OrdinaryDividend |
Aug 28, 2014 | $0.015 | OrdinaryDividend |
Jul 30, 2014 | $0.014 | OrdinaryDividend |
Jun 27, 2014 | $0.012 | OrdinaryDividend |
May 29, 2014 | $0.011 | OrdinaryDividend |
Apr 29, 2014 | $0.012 | OrdinaryDividend |
Mar 28, 2014 | $0.017 | OrdinaryDividend |
Feb 27, 2014 | $0.007 | OrdinaryDividend |
Jan 30, 2014 | $0.008 | OrdinaryDividend |
Dec 30, 2013 | $0.008 | OrdinaryDividend |
Nov 27, 2013 | $0.007 | OrdinaryDividend |
Oct 30, 2013 | $0.010 | OrdinaryDividend |
Sep 27, 2013 | $0.011 | OrdinaryDividend |
Aug 29, 2013 | $0.011 | OrdinaryDividend |
Jul 30, 2013 | $0.010 | OrdinaryDividend |
Jun 27, 2013 | $0.010 | OrdinaryDividend |
May 30, 2013 | $0.009 | OrdinaryDividend |
Apr 29, 2013 | $0.010 | OrdinaryDividend |
Mar 27, 2013 | $0.008 | OrdinaryDividend |
Feb 27, 2013 | $0.010 | OrdinaryDividend |
Jan 30, 2013 | $0.008 | OrdinaryDividend |
Dec 31, 2012 | $0.036 | OrdinaryDividend |
Sep 28, 2012 | $0.021 | OrdinaryDividend |
Jun 29, 2012 | $0.037 | OrdinaryDividend |
Mar 30, 2012 | $0.035 | OrdinaryDividend |
Dec 30, 2011 | $0.054 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Jun 30, 2011
10.93
10.9%
Prior to joining M.D. Sass in 2009, Mr. Lu served as Vice President/Senior Portfolio Manager at AllianceBernstein with direct responsibility for $5 billion in Total Return fixed income assets with a focus on Structured products. He led the global structured product effort, including MBS/CMBS/ABS for the Fixed Income group and also covered interest rates and other liquid derivatives at the firm. Previously, he was Head of Structured Product Research where he was a Senior Vice President and Portfolio Manager of the mortgage REIT at Deerfield Capital Management. Mr. Lu started his career at Zurich Scudder Kemper where he was Co-Portfolio Manager of the long-short Freddie Mae Money Manager Program. He holds an M.B.A. in Quantitative Finance from the University of Chicago, and an M.S. degree in Finance and Statistics and a B.A. with concentration in Economics, Political Science and International Relations from the University of Wisconsin. Mr. Lu has 22 years of investment experience.
Start Date
Tenure
Tenure Rank
Jun 30, 2011
10.93
10.9%
Ms. Persoons serves as a Vice President and Fixed Income Portfolio Manager of M.D. Sass Investors Services, Inc.. Prior to joiningM.D. Sass Investors Services, Inc. in 1989, Ms. Persoons was on the Fixed Income trading desk at Prudential-Bache Securities. She holds a B.A., Economics and Business, State University of New York, Plattsburgh.
Start Date
Tenure
Tenure Rank
Sep 28, 2012
9.68
9.7%
Mr. Clancy serves as a Vice President and Fixed Income Portfolio Manager of MDSIS. Prior to joining M.D. Sass Investors Services, Inc. in 2012, Mr. Clancy served as Vice President/Portfolio Manager at Dwight Asset Management. Mr. Clancy holds a B.A. in Mathematics and Economics from Cornell University and also holds the CFA designation.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.49 | 32.44 | 10.48 | 7.33 |
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