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Trending ETFs

Steward Covered Call Income Fund

mutual fund
SCJAX
Payout Change
Pending
Price as of:
$8.0 -0.04 -0.5%
primary theme
N/A
SCJAX (Mutual Fund)

Steward Covered Call Income Fund

Payout Change
Pending
Price as of:
$8.0 -0.04 -0.5%
primary theme
N/A
SCJAX (Mutual Fund)

Steward Covered Call Income Fund

Payout Change
Pending
Price as of:
$8.0 -0.04 -0.5%
primary theme
N/A

Name

As of 06/14/2024

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

$8.00

$77.2 M

0.00%

1.81%

Vitals

YTD Return

7.5%

1 yr return

15.1%

3 Yr Avg Return

6.9%

5 Yr Avg Return

9.8%

Net Assets

$77.2 M

Holdings in Top 10

31.1%

52 WEEK LOW AND HIGH

$8.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.81%

SALES FEES

Front Load 5.75%

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 06/14/2024

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

$8.00

$77.2 M

0.00%

1.81%

SCJAX - Profile

Distributions

  • YTD Total Return 7.5%
  • 3 Yr Annualized Total Return 6.9%
  • 5 Yr Annualized Total Return 9.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.51%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Steward Covered Call Income Fund
  • Fund Family Name
    Crossmark Global Investments, Inc.
  • Inception Date
    Dec 14, 2017
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Paul Townsen

Fund Description

The Fund’s principal investment strategy is to invest in a portfolio of large‑cap, dividend-paying, equity securities that are listed on U.S. exchanges and to write (sell) covered call options on those securities with the overall goal of providing options premium income and lowering volatility of the Fund’s portfolio when compared to the broader uncovered large‑cap securities market, subject to the limitations of the Fund’s values-based screening policies (see “Values-based Screens” below).
Under normal market circumstances, the Fund will:
write (sell) call options on at least 80% of its equity securities
invest at least 80% of its assets in the securities of companies included in the Fund’s benchmark*
The Fund’s equity investments will consist primarily of common stocks of large U.S. companies, most of which will pay dividends, with sufficient liquidity and option market interest to suggest that call options can be readily written on those securities. The Fund’s benchmark index is the Cboe S&P 500 BuyWrite Index, a
*
The 80% is measured as of the time of investment and is applied to the value of the Fund’s net assets plus the amount of any borrowings for investment purposes. For purposes of this limit, investments include those made directly or through other investment companies that have substantially similar 80% policies. The Fund will provide shareholders with at least 60 days’ prior notice of any change in this policy.
widely recognized broad-based large cap index. The Fund may also invest in other investment companies and real estate investment trusts.
Covered call options may be written on the Fund’s equity securities. A call option gives the purchaser of the option the right to buy, and the writer, in this case, the Fund, the obligation to sell, the underlying security at a specified exercise price at any time prior and up to the expiration of the contract. When call options are written, the Fund will typically write options with exercise prices that are above the current market price of the security, thus providing room for growth. The purchaser pays a premium to the Fund for the option so the premium is an extra source of income to the Fund. If the price of the underlying security rises, but does not rise to the level of the exercise price, the option would not typically be exercised and the Fund would keep both the security at its appreciated value and the option premium. However, if the price of the underlying security rises above the exercise price of the option prior to expiration of the option and the option is exercised, the Fund will lose the value of the appreciation above the exercise price, although the loss in appreciation will be moderated by the amount of the option premium received by the Fund. If the price of the security drops below the price at the time the option was written, such loss in value will be diminished by the value of the premium.
The covered call strategy used by the Fund is designed to earn extra income for the Fund from premiums to moderate the impact of market declines and to reduce the volatility of the Fund’s portfolio. This strategy means that the Fund may be expected to underperform equity markets during periods of sharply rising equity prices; conversely, by using this strategy, the Fund would tend to outperform equity markets during periods of flat or declining equity prices due to the Fund’s receipt of premiums from selling the call options. Covered call options on a particular equity security may be sold up to the full number of shares of that equity security held by the Fund. For securities on which options expire unexercised, the Fund can write more options, thus earning more premium income, until an option on the security is exercised. Portfolio management considers several factors when writing (selling) options, including the overall equity market outlook, factors affecting the particular industry sector, individual security considerations, the timing of corporate events and the levels of option premiums.
The companies included in the investment universe represent a broad spectrum of U.S. economic sectors and are primarily U.S. issuers. Changes to the companies in which the Fund invests will usually be prompted by changes in portfolio management’s evaluation of the relative performance of the securities, changes in a securities option market, or the development of a material portfolio construction issue. Following any changes, portfolio management will rebalance the portfolio in an attempt to more closely match the characteristics of the broader mid‑ and large‑cap market. To the extent that a rebalance involves buying new securities, portfolio management will write calls against those securities in due course. To the extent that a rebalance involves selling securities,
portfolio management will close out the option positions against the security being sold. The Fund may also close out (buy back) call options it has written in order to adjust the Fund’s risk profile or in anticipation of certain corporate actions and/or events such as ex‑dividend dates, earnings announcements and/or other material corporate actions.
Values-based Screens. As noted above, in implementing its investment strategies, the Fund applies a set of values-based screens to use its best efforts to avoid investing in companies that are determined by Crossmark, pursuant to screening guidelines approved by the Fund’s Board of Directors, to be: (1) materially involved in the production, distribution, retail, supply or licensing of alcohol or related products; (2) materially involved in the production, distribution, retail, supply or licensing of tobacco or related products (to include vaping and other alternative smoking products); (3) materially involved in gambling (to include the manufacture, distribution and operation of facilities and equipment whose intended use is gambling); (4) directly participating in providing abortions and/or the production of drugs that are used to terminate pregnancy; (5) leasing real estate to facilities providing abortions; (6) directly engaged in scientific research using stem cells derived from human embryos, fetal tissue or human embryo cloning techniques; (7) directly involved in the production, distribution or retail of adult entertainment; or (8) directly involved in the production, distribution, retail, supply or licensing of psychoactive recreational cannabis or derivative products. Because the Fund uses its best efforts to avoid investments in companies that do not pass the values-based screening criteria, it will divest itself, in a timely manner, of securities of companies that are subsequently added to the list of prohibited companies, although the sale may be delayed if such securities are illiquid or if Crossmark determines that an immediate sale would have a negative tax or other effect on the Fund. However, the Fund may invest up to 5% of its total assets in certain collective investment vehicles or derivatives that may hold or derive value from securities issued by otherwise excluded companies.
For purposes of the alcohol, tobacco and gambling screens, material involvement means that a company derives 10% or more of its revenues from the screened activities. For purposes of the adult entertainment screen, companies directly involved in the production, distribution or retail of adult entertainment (defined as media and materials intended to appeal exclusively to the prurient interest) and companies that derive 2% or more of their revenues from the screened activities are screened. For purposes of the abortion, abortion facilities, stem cell research and cannabis screens, there is no revenue threshold; any direct involvement in the screened activities will cause a company to be screened out of the investment universe. For purposes of the abortion and abortion facilities screens, a company that is not itself directly involved in the screened activities will be screened out of the investment universe if (a) it owns 20% or more of another company that is directly participating in the screened activities, or (b) it is 50% or more owned by another company that is directly participating in the screened activities.
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SCJAX - Performance

Return Ranking - Trailing

Period SCJAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.5% -2.8% 240.8% 13.44%
1 Yr 15.1% -4.3% 140.6% 20.43%
3 Yr 6.9%* -8.3% 18.3% 23.08%
5 Yr 9.8%* -5.0% 17.3% N/A
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period SCJAX Return Category Return Low Category Return High Rank in Category (%)
2023 9.5% -34.1% 904.0% 90.99%
2022 -20.3% -28.6% 438.4% 38.73%
2021 -3.5% -93.5% 8.2% 73.10%
2020 -7.8% -38.9% 19.8% N/A
2019 12.6% -10.9% 12.8% N/A

Total Return Ranking - Trailing

Period SCJAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.5% -2.7% 244.0% 13.44%
1 Yr 15.1% -4.3% 140.6% 19.57%
3 Yr 6.9%* -8.3% 18.3% 21.15%
5 Yr 9.8%* -5.4% 17.3% N/A
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Total Return Ranking - Calendar

Period SCJAX Return Category Return Low Category Return High Rank in Category (%)
2023 18.8% -34.1% 904.0% 90.99%
2022 -12.3% -5.9% 438.4% 39.31%
2021 21.6% -81.2% 8.2% 82.07%
2020 6.6% -29.0% 19.8% N/A
2019 20.3% -10.9% 12.8% N/A

NAV & Total Return History


SCJAX - Holdings

Concentration Analysis

SCJAX Category Low Category High SCJAX % Rank
Net Assets 77.2 M 25 17.4 B 77.90%
Number of Holdings 182 2 508 20.23%
Net Assets in Top 10 24.3 M -6.66 M 5.12 B 89.31%
Weighting of Top 10 31.13% 11.3% 100.0% 72.00%

Top 10 Holdings

  1. Microsoft Corporation COM USD0.00000625 5.05%
  2. Apple Inc. COM USD0.00001 4.51%
  3. NVIDIA Corp. COM USD0.001 4.42%
  4. Amazon.com, Inc. COM USD0.01 4.02%
  5. Berkshire Hathaway Inc. COM USD0.0033 CLASS'B' 2.61%
  6. Alphabet Inc. CAP STK USD0.001 CL A 2.46%
  7. Meta Platforms Inc COM USD0.000006 CL 'A' 2.45%
  8. Alphabet Inc. CAP USD0.001 CL C 1.98%
  9. Eli Lilly Co. COM NPV 1.82%
  10. Broadcom Inc COM USD0.001 1.82%

Asset Allocation

Weighting Return Low Return High SCJAX % Rank
Stocks
104.17% -3.92% 100.76% 44.66%
Cash
0.58% -0.76% 100.29% 46.95%
Preferred Stocks
0.00% 0.00% 3.08% 78.63%
Bonds
0.00% 0.00% 97.96% 80.53%
Convertible Bonds
-0.02% 0.00% 20.91% 79.77%
Other
-4.69% 0.00% 45.92% 82.06%

Stock Sector Breakdown

Weighting Return Low Return High SCJAX % Rank
Technology
21.73% 0.00% 44.43% 55.04%
Financial Services
15.86% 0.00% 29.60% 16.39%
Consumer Cyclical
12.16% 0.00% 19.02% 15.55%
Communication Services
10.67% 0.00% 21.22% 9.66%
Consumer Defense
9.48% 0.00% 22.87% 18.49%
Healthcare
9.25% 0.00% 25.91% 91.18%
Industrials
8.94% 1.41% 43.91% 74.79%
Utilities
4.12% 0.00% 13.35% 19.75%
Energy
4.01% 0.00% 69.54% 85.29%
Basic Materials
2.26% 0.00% 60.58% 89.50%
Real Estate
1.52% 0.00% 9.74% 87.39%

Stock Geographic Breakdown

Weighting Return Low Return High SCJAX % Rank
US
104.17% -3.89% 100.00% 28.63%
Non US
0.00% -2.17% 99.33% 79.77%

SCJAX - Expenses

Operational Fees

SCJAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.81% 0.20% 6.78% 29.63%
Management Fee 0.63% 0.20% 1.75% 17.54%
12b-1 Fee 0.25% 0.00% 1.00% 79.89%
Administrative Fee 0.08% 0.02% 0.28% 30.61%

Sales Fees

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

Trading Fees

SCJAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

SCJAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 456.80% 85.71%

SCJAX - Distributions

Dividend Yield Analysis

SCJAX Category Low Category High SCJAX % Rank
Dividend Yield 0.00% 0.00% 3.76% 81.04%

Dividend Distribution Analysis

SCJAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Annually

Net Income Ratio Analysis

SCJAX Category Low Category High SCJAX % Rank
Net Income Ratio 0.51% -2.54% 14.24% 38.11%

Capital Gain Distribution Analysis

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

Distributions History

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SCJAX - Fund Manager Analysis

Managers

Paul Townsen


Start Date

Tenure

Tenure Rank

Dec 14, 2017

4.46

4.5%

Paul Townsen began his career with Crossmark in 1993. Mr. Townsen’s responsibilities have included portfolio management, portfolio analytics, allocation maintenance, soft dollar management, and numerous other leadership positions. Mr. Townsen has been involved with equity index trading for Crossmark’s institutional clients for eighteen years. As a senior equity and derivatives trader, his years of experience bring a strong knowledge of the unique factors associated with equity index trading. Mr. Townsen also brings expertise in trading taxable and tax-exempt bonds, as he previously served as Crossmark’s head bond trader.

Ryan Caylor


Start Date

Tenure

Tenure Rank

Mar 15, 2021

1.21

1.2%

Ryan joined Crossmark in June of 2016 and currently serves as a Portfolio Manager & Head of Research. He is responsible for generating independent and differentiated fundamental research on markets, sectors, and individual companies in support of Crossmark's Portfolio Managers and Investment Teams. Prior to joining Capstone, Ryan was a sell-side Equity Research Associate at Tudor, Pickering, Holt & Co. (TPH) covering competitive power and electric utility stocks. Prior to TPH, Ryan was an Associate in the Energy Valuation Group at PricewaterhouseCoopers. Ryan graduated from Tulane University in New Orleans with an undergraduate degree in Finance, as well as Masters degrees in Accounting and Finance. He currently holds his Series 7, 63, 86, and 87 securities licenses.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 19.77 3.61 5.67