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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 12/09/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
$9.55
$54.7 M
2.80%
$0.27
0.61%
YTD Return
2.4%
1 yr return
3.4%
3 Yr Avg Return
0.1%
5 Yr Avg Return
1.1%
Net Assets
$54.7 M
Holdings in Top 10
33.3%
Expense Ratio 0.61%
Front Load N/A
Deferred Load N/A
Turnover 8.56%
Redemption Fee N/A
Standard (Taxable)
$10,000,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/09/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
$9.55
$54.7 M
2.80%
$0.27
0.61%
As a matter of fundamental policy, the Fund will invest, under normal market conditions, at least 80% of its net assets plus borrowings for investment purposes in investments the income from which is exempt from federal income tax, alternative minimum tax, and West Virginia personal income tax (“West Virginia Tax-Exempt Obligations”). The Fund invests, under normal market conditions, primarily in municipal securities of West Virginia and its political subdivisions that provide income exempt from both federal personal income tax and West Virginia personal income tax. Municipal securities in which the Fund will invest include municipal notes and bonds, general obligation bonds, special revenue bonds, private activity bonds, lease obligations, certificates of participation, variable rate demand notes, and tax-exempt commercial paper. The Fund invests in West Virginia municipal securities only if they are “investment grade” (rated at the time of purchase in one of the four highest rating categories by a nationally recognized statistical rating organization, or are determined by the portfolio manager to be of comparable quality). The Fund will maintain an average duration of 3.5 to 8 years. The Fund’s dollar-weighted average maturity is expected to be more than 3 years but less than 10 years. Duration is the expected life of a fixed income security and is used to determine the sensitivity of the security’s price to changes in interest rates. Maturity merely measures the time until final payment is due. Unlike maturity, duration accounts for the time until all payments of interest and principal on a security are expected to be made, including how these payments are affected by prepayments and by changes in interest rates.
In managing the Fund’s portfolio, the portfolio manager uses a “top down” investment management approach focusing on interest rates and credit quality. The portfolio manager sets, and continually adjusts, a target for the interest rate sensitivity of the Fund’s portfolio based on expectations about interest rate movements. The portfolio manager then selects securities consistent with this target based on their individual characteristics.
The portfolio manager may consider selling a security owned by the Fund to reposition the Fund along the yield curve, to adjust the Fund’s average maturity or duration, to replace a security with one that the portfolio manager believes offers greater total return potential, or to exit a security whose credit fundamentals are deteriorating.
The Fund is non-diversified and, therefore, may invest in a limited number of issuers.
Period | OWVAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.4% | -4.3% | 40.7% | 85.02% |
1 Yr | 3.4% | -2.6% | 46.0% | 86.70% |
3 Yr | 0.1%* | -10.3% | 6.3% | 35.11% |
5 Yr | 1.1%* | -6.5% | 1105.2% | 46.00% |
10 Yr | 1.8%* | -0.9% | 249.0% | 49.91% |
* Annualized
Period | OWVAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.8% | -1.4% | 41.0% | 79.60% |
2022 | -7.7% | -39.7% | 0.3% | 18.23% |
2021 | -1.4% | -5.6% | 6.9% | 88.38% |
2020 | 2.4% | -2.6% | 310.0% | 19.68% |
2019 | 3.3% | 0.0% | 26.0% | 71.27% |
Period | OWVAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.4% | -4.3% | 40.7% | 85.02% |
1 Yr | 3.4% | -2.6% | 46.0% | 86.70% |
3 Yr | 0.1%* | -10.3% | 6.3% | 35.11% |
5 Yr | 1.1%* | -6.5% | 1105.2% | 46.00% |
10 Yr | 1.8%* | -0.9% | 249.0% | 49.91% |
* Annualized
Period | OWVAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.4% | -1.3% | 41.0% | 77.31% |
2022 | -5.8% | -39.7% | 1.1% | 17.61% |
2021 | 0.5% | -4.8% | 23761504.0% | 75.19% |
2020 | 4.7% | -1.5% | 17057.9% | 22.48% |
2019 | 5.9% | 0.2% | 3514.6% | 67.31% |
OWVAX | Category Low | Category High | OWVAX % Rank | |
---|---|---|---|---|
Net Assets | 54.7 M | 3.22 M | 71.9 B | 93.35% |
Number of Holdings | 43 | 4 | 13418 | 97.72% |
Net Assets in Top 10 | 18.5 M | -317 M | 3.09 B | 89.32% |
Weighting of Top 10 | 33.27% | 1.8% | 100.3% | 8.94% |
Weighting | Return Low | Return High | OWVAX % Rank | |
---|---|---|---|---|
Bonds | 96.25% | 0.00% | 150.86% | 84.97% |
Cash | 3.75% | -50.86% | 44.62% | 13.43% |
Stocks | 0.00% | 0.00% | 99.78% | 55.30% |
Preferred Stocks | 0.00% | 0.00% | 0.07% | 47.82% |
Other | 0.00% | -3.69% | 53.54% | 51.44% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 47.40% |
Weighting | Return Low | Return High | OWVAX % Rank | |
---|---|---|---|---|
Municipal | 96.16% | 44.39% | 100.00% | 72.15% |
Cash & Equivalents | 2.60% | 0.00% | 44.41% | 18.80% |
Derivative | 0.00% | -3.69% | 53.54% | 49.56% |
Securitized | 0.00% | 0.00% | 5.93% | 47.94% |
Corporate | 0.00% | 0.00% | 9.41% | 56.30% |
Government | 0.00% | 0.00% | 52.02% | 51.45% |
Weighting | Return Low | Return High | OWVAX % Rank | |
---|---|---|---|---|
US | 96.25% | 0.00% | 142.23% | 82.94% |
Non US | 0.00% | 0.00% | 23.89% | 49.76% |
OWVAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.61% | 0.01% | 8.02% | 66.60% |
Management Fee | 0.35% | 0.00% | 1.20% | 27.32% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 6.95% |
Administrative Fee | 0.11% | 0.01% | 0.44% | 47.83% |
OWVAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 4.75% | N/A |
Deferred Load | N/A | 0.25% | 5.00% | N/A |
OWVAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 1.00% | 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.
OWVAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 8.56% | 0.00% | 283.00% | 15.01% |
OWVAX | Category Low | Category High | OWVAX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.80% | 0.00% | 14.51% | 71.88% |
OWVAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
OWVAX | Category Low | Category High | OWVAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.78% | -0.53% | 5.33% | 59.96% |
OWVAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Nov 29, 2024 | $0.022 | OrdinaryDividend |
Oct 31, 2024 | $0.023 | OrdinaryDividend |
Sep 30, 2024 | $0.022 | OrdinaryDividend |
Aug 30, 2024 | $0.022 | OrdinaryDividend |
Jul 31, 2024 | $0.023 | OrdinaryDividend |
Mar 28, 2024 | $0.023 | OrdinaryDividend |
Feb 29, 2024 | $0.021 | OrdinaryDividend |
Jan 31, 2024 | $0.022 | OrdinaryDividend |
Dec 29, 2023 | $0.022 | OrdinaryDividend |
Nov 30, 2023 | $0.021 | OrdinaryDividend |
Oct 31, 2023 | $0.021 | OrdinaryDividend |
Sep 29, 2023 | $0.020 | OrdinaryDividend |
Aug 31, 2023 | $0.020 | OrdinaryDividend |
Jul 31, 2023 | $0.020 | OrdinaryDividend |
Jun 30, 2023 | $0.020 | OrdinaryDividend |
May 31, 2023 | $0.020 | OrdinaryDividend |
Apr 28, 2023 | $0.019 | OrdinaryDividend |
Mar 31, 2023 | $0.020 | OrdinaryDividend |
Feb 28, 2023 | $0.017 | OrdinaryDividend |
Jan 31, 2023 | $0.019 | OrdinaryDividend |
Dec 29, 2022 | $0.018 | OrdinaryDividend |
Nov 29, 2022 | $0.017 | OrdinaryDividend |
Oct 28, 2022 | $0.018 | OrdinaryDividend |
Sep 29, 2022 | $0.016 | OrdinaryDividend |
Aug 30, 2022 | $0.017 | OrdinaryDividend |
Jul 28, 2022 | $0.016 | OrdinaryDividend |
Jun 29, 2022 | $0.016 | OrdinaryDividend |
May 27, 2022 | $0.015 | OrdinaryDividend |
Apr 28, 2022 | $0.014 | OrdinaryDividend |
Mar 30, 2022 | $0.014 | OrdinaryDividend |
Feb 28, 2022 | $0.013 | OrdinaryDividend |
Jan 31, 2022 | $0.014 | OrdinaryDividend |
Dec 31, 2021 | $0.014 | OrdinaryDividend |
Dec 08, 2021 | $0.001 | CapitalGainLongTerm |
Nov 30, 2021 | $0.014 | OrdinaryDividend |
Oct 29, 2021 | $0.015 | OrdinaryDividend |
Sep 30, 2021 | $0.014 | OrdinaryDividend |
Aug 31, 2021 | $0.015 | OrdinaryDividend |
Jul 30, 2021 | $0.015 | OrdinaryDividend |
Jun 30, 2021 | $0.015 | OrdinaryDividend |
May 28, 2021 | $0.015 | OrdinaryDividend |
Apr 30, 2021 | $0.015 | OrdinaryDividend |
Mar 31, 2021 | $0.016 | OrdinaryDividend |
Feb 26, 2021 | $0.015 | OrdinaryDividend |
Jan 29, 2021 | $0.016 | OrdinaryDividend |
Dec 31, 2020 | $0.016 | OrdinaryDividend |
Dec 09, 2020 | $0.006 | CapitalGainLongTerm |
Nov 30, 2020 | $0.016 | OrdinaryDividend |
Oct 30, 2020 | $0.016 | OrdinaryDividend |
Sep 30, 2020 | $0.015 | OrdinaryDividend |
Aug 31, 2020 | $0.017 | OrdinaryDividend |
Jul 31, 2020 | $0.017 | OrdinaryDividend |
Jun 30, 2020 | $0.017 | OrdinaryDividend |
May 29, 2020 | $0.018 | OrdinaryDividend |
Apr 30, 2020 | $0.018 | OrdinaryDividend |
Mar 31, 2020 | $0.018 | OrdinaryDividend |
Feb 28, 2020 | $0.018 | OrdinaryDividend |
Jan 31, 2020 | $0.019 | OrdinaryDividend |
Dec 31, 2019 | $0.019 | OrdinaryDividend |
Dec 11, 2019 | $0.009 | CapitalGainLongTerm |
Nov 29, 2019 | $0.019 | OrdinaryDividend |
Oct 31, 2019 | $0.020 | OrdinaryDividend |
Sep 30, 2019 | $0.019 | OrdinaryDividend |
Aug 30, 2019 | $0.020 | OrdinaryDividend |
Jul 31, 2019 | $0.020 | OrdinaryDividend |
Dec 12, 2018 | $0.016 | CapitalGainLongTerm |
Dec 13, 2017 | $0.012 | CapitalGainLongTerm |
Dec 07, 2016 | $0.045 | CapitalGainLongTerm |
Dec 09, 2015 | $0.000 | CapitalGainShortTerm |
Dec 09, 2015 | $0.054 | CapitalGainLongTerm |
Dec 10, 2014 | $0.026 | CapitalGainLongTerm |
Dec 11, 2012 | $0.008 | CapitalGainShortTerm |
Dec 11, 2012 | $0.115 | CapitalGainLongTerm |
Dec 08, 2011 | $0.041 | CapitalGainLongTerm |
Dec 09, 2010 | $0.000 | CapitalGainShortTerm |
Dec 09, 2010 | $0.010 | CapitalGainLongTerm |
Dec 10, 2009 | $0.000 | CapitalGainShortTerm |
Dec 10, 2009 | $0.015 | CapitalGainLongTerm |
Dec 11, 2008 | $0.011 | CapitalGainShortTerm |
Dec 11, 2008 | $0.000 | CapitalGainLongTerm |
Dec 12, 2007 | $0.017 | CapitalGainLongTerm |
Dec 13, 2006 | $0.030 | CapitalGainLongTerm |
Dec 10, 2004 | $0.077 | CapitalGainLongTerm |
Dec 02, 2003 | $0.003 | CapitalGainShortTerm |
Dec 02, 2003 | $0.034 | CapitalGainLongTerm |
Dec 10, 2002 | $0.044 | CapitalGainShortTerm |
Dec 10, 2002 | $0.117 | CapitalGainLongTerm |
Start Date
Tenure
Tenure Rank
Feb 01, 2000
22.34
22.3%
Robert F. Millikan, CFA, Executive Director, joined BB&T Asset Management in 2000 and Sterling Capital Management through merger in October 2010. He has investment experience since 1990. Bob is responsible for managing the state-specific municipal bond fund portfolios for Sterling Capital Funds as well as for the tax-free funds’ investment policy, research and management. Prior to joining BB&T, he worked for First Citizens Bank as Vice President and Fixed Income Portfolio Manager for both taxable and tax-exempt accounts. Bob is a graduate of Wake Forest University where he received his BA in Economics. He is a past President of the North Carolina Society of Financial Analysts and also a past Chairman of the Board of Directors for the Carolinas Municipal Advisory Council. He is a CFA charterholder. He is currently serving on the CFA North Carolina Strategic Advisory Board.
Start Date
Tenure
Tenure Rank
Feb 01, 2016
6.33
6.3%
Mr. McVicker is an Executive Director and Senior Municipal Credit Analyst with additional responsibilities for credits that crossover into the taxable market with Sterling Capital. He joined Sterling Capital in 1992. Prior to joining the fixed income team, he was Sterling’s Director of Operations managing the client reporting and performance team. He has investment experience since 1992 and holds a B.S.B.A. in Finance with a minor in Psychology from the University of North Carolina – Charlotte.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.36 | 1.58 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...