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Trending ETFs

Medalist Partners MBS Total Return Fund

mutual fund
SEMOX
Payout Change
Pending
Price as of:
$8.41 +0.0 +0.0%
primary theme
Bond Sector Diversified
SEMOX (Mutual Fund)

Medalist Partners MBS Total Return Fund

Payout Change
Pending
Price as of:
$8.41 +0.0 +0.0%
primary theme
Bond Sector Diversified
SEMOX (Mutual Fund)

Medalist Partners MBS Total Return Fund

Payout Change
Pending
Price as of:
$8.41 +0.0 +0.0%
primary theme
Bond Sector Diversified

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

$8.41

$199 M

6.62%

$0.56

1.15%

Vitals

YTD Return

7.3%

1 yr return

13.5%

3 Yr Avg Return

1.9%

5 Yr Avg Return

0.9%

Net Assets

$199 M

Holdings in Top 10

28.5%

52 WEEK LOW AND HIGH

$8.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.15%

SALES FEES

Front Load 2.00%

Deferred Load N/A

TRADING FEES

Turnover 78.00%

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

$8.41

$199 M

6.62%

$0.56

1.15%

SEMOX - Profile

Distributions

  • YTD Total Return 7.3%
  • 3 Yr Annualized Total Return 1.9%
  • 5 Yr Annualized Total Return 0.9%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.77%
DIVIDENDS
  • Dividend Yield 6.6%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Medalist Partners MBS Total Return Fund
  • Fund Family Name
    Semper
  • Inception Date
    Jul 22, 2013
  • Shares Outstanding
    849704
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Thomas Mandel

Fund Description

Under normal market conditions, the Total Return Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in mortgage-backed securities (“MBS”). MBS refers to a type of fixed income instrument that represents an interest in a pool of mortgages, including residential MBS (“RMBS”) and commercial MBS (“CMBS”), and includes securities issued by government sponsored entities (“agency MBS”). MBS, including RMBS and CMBS, include fixed and variable rate securities with underlying fixed or variable rate mortgage loans and securities issued by private entities (“non-agency MBS”). The weighted average maturity of the Fund’s MBS investments will generally range from between 1 and 10 years and the Fund may invest without limit in MBS that are rated below investment grade (i.e., “high yield” or “junk” ratings). The Adviser considers securities to be of investment grade quality if they are rated BBB (or comparable) or higher by a nationally recognized credit rating organization including S&P Global Ratings (“S&P”) and Moody’s Investors Service, Inc. (“Moody’s”), or if unrated, determined by the Adviser to be of comparable quality. As part of the Fund’s agency RMBS investments, the Fund may invest in credit risk transfer securities. Credit risk transfer securities are fixed- or floating-rate unsecured general obligations issued from time to time by Freddie Mac, Fannie Mae or other government sponsored entities. The Fund may also invest in asset-backed securities. The Fund may also invest without limit in Rule 144A securities, may invest up to 50% of its total assets in when-issued securities, and may invest up to 10% of its total assets in other investment companies, including exchange-traded funds (“ETFs”).
The Fund may utilize leverage (i.e., borrow against a line of credit) as part of the portfolio management process, subject to the limits of the 1940 Act.
The Adviser selects the Total Return Fund’s investments based on quantitative analysis, including bottom-up, loan-level credit analysis and structural stress-testing, as well as top-down macro qualitative analysis, including outlook for the economy, interest rates and real estate fundamentals. The Fund’s annual portfolio turnover rate will generally be 100% or greater.
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SEMOX - Performance

Return Ranking - Trailing

Period SEMOX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.3% -7.7% 410.0% 1.52%
1 Yr 13.5% -11.0% 435.7% 2.12%
3 Yr 1.9%* -18.2% 72.2% 20.44%
5 Yr 0.9%* -13.9% 43.6% 75.46%
10 Yr N/A* -13.8% 6.5% N/A

* Annualized

Return Ranking - Calendar

Period SEMOX Return Category Return Low Category Return High Rank in Category (%)
2023 2.9% -12.0% 15.7% 48.04%
2022 -18.1% -31.8% 18.4% 91.18%
2021 3.6% -26.6% 25.7% 3.04%
2020 -10.9% -49.2% 18.7% 98.09%
2019 -0.2% -35.1% 15.3% 93.25%

Total Return Ranking - Trailing

Period SEMOX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.3% -7.7% 410.0% 1.52%
1 Yr 13.5% -11.0% 435.7% 2.12%
3 Yr 1.9%* -18.2% 72.2% 20.44%
5 Yr 0.9%* -13.9% 43.6% 75.46%
10 Yr N/A* -13.8% 6.5% N/A

* Annualized

Total Return Ranking - Calendar

Period SEMOX Return Category Return Low Category Return High Rank in Category (%)
2023 13.2% -7.0% 22.2% 4.23%
2022 -13.2% -31.8% 21.1% 89.01%
2021 7.0% -13.5% 49.9% 8.48%
2020 -6.7% -28.6% 24.1% 96.53%
2019 5.1% -4.8% 19.1% 83.68%

NAV & Total Return History


SEMOX - Holdings

Concentration Analysis

SEMOX Category Low Category High SEMOX % Rank
Net Assets 199 M 2.53 M 143 B 73.83%
Number of Holdings 134 2 9868 78.66%
Net Assets in Top 10 56.8 M -204 M 70.2 B 76.22%
Weighting of Top 10 28.46% 5.1% 271.9% 50.23%

Top 10 Holdings

  1. GreenPoint Mortgage Funding Trust 2005-AR4 7.15%
  2. First American Government Obligations Fund 3.97%
  3. Towd Point Mortgage Trust 2019-HY1 2.87%
  4. Freddie Mac Multifamily Structured Credit Risk 2.74%
  5. JP Morgan Mortgage Trust 2019-HYB1 2.34%
  6. Towd Point Mortgage Trust 2019-HY3 2.27%
  7. CSMC 2020-AFC1 Trust 2.23%
  8. CSMC 2020-AFC1 Trust 1.82%
  9. Towd Point Mortgage Trust 2019-HY3 1.55%
  10. Freddie Mac Multifamily Structured Credit Risk 1.52%

Asset Allocation

Weighting Return Low Return High SEMOX % Rank
Bonds
88.06% 0.00% 215.76% 54.42%
Other
9.22% -66.66% 153.75% 32.01%
Cash
3.97% -94.66% 100.00% 50.15%
Stocks
0.00% -4.18% 99.84% 95.43%
Preferred Stocks
0.00% 0.00% 28.28% 92.23%
Convertible Bonds
0.00% 0.00% 33.50% 96.40%

Bond Sector Breakdown

Weighting Return Low Return High SEMOX % Rank
Securitized
96.20% 0.00% 99.65% 0.94%
Cash & Equivalents
3.97% 0.00% 99.66% 44.04%
Corporate
0.53% 0.00% 96.66% 91.35%
Derivative
0.00% -66.66% 153.75% 65.75%
Municipal
0.00% 0.00% 54.26% 91.51%
Government
0.00% 0.00% 99.43% 97.80%

Bond Geographic Breakdown

Weighting Return Low Return High SEMOX % Rank
US
88.06% 0.00% 215.76% 38.72%
Non US
0.00% 0.00% 69.85% 93.75%

SEMOX - Expenses

Operational Fees

SEMOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.15% 0.03% 20.67% 50.46%
Management Fee 0.60% 0.00% 2.29% 54.46%
12b-1 Fee 0.25% 0.00% 1.00% 52.26%
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

SEMOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.00% 0.00% 5.75% 97.50%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

SEMOX 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.

SEMOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 78.00% 0.00% 632.00% 47.33%

SEMOX - Distributions

Dividend Yield Analysis

SEMOX Category Low Category High SEMOX % Rank
Dividend Yield 6.62% 0.00% 23.30% 6.34%

Dividend Distribution Analysis

SEMOX Category Low Category High Category Mod
Dividend Distribution Frequency None SemiAnnual Monthly Quarterly

Net Income Ratio Analysis

SEMOX Category Low Category High SEMOX % Rank
Net Income Ratio 2.77% -1.55% 11.51% 57.12%

Capital Gain Distribution Analysis

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

Distributions History

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SEMOX - Fund Manager Analysis

Managers

Thomas Mandel


Start Date

Tenure

Tenure Rank

Jan 13, 2015

7.38

7.4%

Thomas Mandel, CFA and Senior Managing Director, co-founded Semper Capital Management in 1992 and was Chief Investment Officer from from 1992-2005. He remains a senior member of the investment team as well as having primary responsibility for client interface with respect to our investment strategies. Tom serves on the Risk Management Committee. Prior to founding Semper Capital, Tom served as a Principal and Fixed Income Portfolio Manager at 1838 Investment Advisors. He previously served as a Senior Vice President and Portfolio Manager at Century Institutional Advisors. Tom began his career as a Portfolio Manager and Credit Analyst at Chase Investors Management Corp. Tom earned an MBA and a BS from the Wharton School, University of Pennsylvania.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19