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 12/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
24.7%
1 yr return
28.9%
3 Yr Avg Return
7.6%
5 Yr Avg Return
8.2%
Net Assets
$1.54 M
Holdings in Top 10
44.5%
Expense Ratio 3.05%
Front Load N/A
Deferred Load N/A
Turnover 59.00%
Redemption Fee N/A
Standard (Taxable)
$250
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Portfolio will normally invest at least 80% of its total assets in U.S. and foreign equity securities issued by financial services companies, regardless of their stock market value (or “market capitalization”). Equity securities include common stocks, securities convertible into common stocks, preferred stocks and warrants. Up to 20% of the Portfolio’s total assets may be invested in U.S. and foreign securities outside of financial companies.
The Adviser employs quantitative and qualitative analysis that seeks to identify reasonably valued, high quality financial services companies that it believes have the ability to accelerate earnings growth and exceed investor expectations. The Adviser’s selection process consists of three steps. First, the Adviser reviews a series of screens utilizing the Adviser’s investment models, which are based on fundamental characteristics designed to eliminate companies that the Adviser’s research shows have a high probability of underperformance. Factors considered when reviewing the screens include a multi-factor valuation framework, earnings quality and capital structure. The valuation framework includes, but is not limited to, analysis of price to earnings, price to sales, price to book, cash held to price and various cash flow ratios. Valuation methodology is industry-specific within the financial services sector. Next, securities that pass the initial screens are then evaluated to try to identify stocks with the highest probability of producing an earnings growth rate that exceeds investor expectations. This process incorporates changes in earnings expectations and earnings quality analysis. Finally, these steps produce a list of eligible companies which are subjected to analysis by the Adviser to further understand each company’s business prospects and earnings potential. The Adviser uses the results of this analysis to construct the Portfolio’s security positions.
A “Financial services company” for purposes of Portfolio investments, is defined as an entity in which at least 50% of the company’s revenues or earnings were derived from financial services activities based upon the company’s most recent fiscal year, or at least 50% of the company’s assets were devoted to such activities based on the company’s most recent fiscal year or any company which is included in the S&P Financial Sector Index.
Financial services companies provide financial services to consumers and industry. Examples of companies in the financial services sector include commercial banks, investment banks, savings and loan associations, thrifts, finance companies, brokerage and advisory firms, transaction and payroll processors, insurance companies, real estate and leasing companies, and companies that span across these segments, and service providers whose revenue is largely derived from the financial services sector. Under Securities and Exchange Commission (“SEC”) regulations, the Portfolio may not invest more than 5% of its total assets in the equity securities of any company that derives more than 15% of its revenues from brokerage or investment management activities.
Under adverse market conditions, the Portfolio may also make temporary investments in investment grade debt securities. Such investment strategies could result in the Portfolio not achieving its investment objective.
Period | SFPIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 24.7% | 6.1% | 43.3% | 78.65% |
1 Yr | 28.9% | 10.3% | 55.0% | 87.64% |
3 Yr | 7.6%* | -15.3% | 18.3% | 46.07% |
5 Yr | 8.2%* | -6.0% | 22.3% | 60.67% |
10 Yr | 7.3%* | -0.2% | 15.9% | 82.19% |
* Annualized
Period | SFPIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.0% | -12.2% | 29.3% | 60.67% |
2022 | -18.1% | -56.2% | 9.4% | 50.56% |
2021 | 25.9% | 1.6% | 54.4% | 59.55% |
2020 | -8.9% | -41.2% | 61.3% | 67.42% |
2019 | 21.3% | 10.5% | 97.3% | 64.04% |
Period | SFPIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 24.7% | 6.1% | 43.3% | 78.65% |
1 Yr | 28.9% | 10.3% | 55.0% | 87.64% |
3 Yr | 7.6%* | -15.3% | 18.3% | 46.07% |
5 Yr | 8.2%* | -6.0% | 22.3% | 60.67% |
10 Yr | 7.3%* | -0.2% | 15.9% | 82.19% |
* Annualized
Period | SFPIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.9% | -8.5% | 32.0% | 62.92% |
2022 | -14.0% | -56.2% | 11.4% | 56.18% |
2021 | 31.6% | 18.8% | 56.8% | 58.43% |
2020 | -5.4% | -41.2% | 61.3% | 60.67% |
2019 | 26.7% | 15.1% | 101.7% | 62.92% |
SFPIX | Category Low | Category High | SFPIX % Rank | |
---|---|---|---|---|
Net Assets | 1.54 M | 1.54 M | 37.7 B | 98.89% |
Number of Holdings | 52 | 24 | 407 | 62.92% |
Net Assets in Top 10 | 657 K | 657 K | 22.7 B | 98.88% |
Weighting of Top 10 | 44.47% | 12.4% | 76.5% | 40.45% |
Weighting | Return Low | Return High | SFPIX % Rank | |
---|---|---|---|---|
Stocks | 97.37% | 95.73% | 106.77% | 85.39% |
Cash | 2.63% | 0.07% | 24.47% | 19.10% |
Preferred Stocks | 0.00% | 0.00% | 3.05% | 73.03% |
Other | 0.00% | -0.92% | 1.47% | 76.40% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 67.42% |
Bonds | 0.00% | 0.00% | 3.85% | 69.66% |
Weighting | Return Low | Return High | SFPIX % Rank | |
---|---|---|---|---|
Financial Services | 98.48% | 46.33% | 100.00% | 43.82% |
Real Estate | 1.52% | 0.00% | 40.95% | 32.58% |
Utilities | 0.00% | 0.00% | 0.00% | 67.42% |
Technology | 0.00% | 0.00% | 43.13% | 77.53% |
Industrials | 0.00% | 0.00% | 5.08% | 76.40% |
Healthcare | 0.00% | 0.00% | 0.20% | 67.42% |
Energy | 0.00% | 0.00% | 0.00% | 67.42% |
Communication Services | 0.00% | 0.00% | 4.06% | 69.66% |
Consumer Defense | 0.00% | 0.00% | 4.21% | 67.42% |
Consumer Cyclical | 0.00% | 0.00% | 42.54% | 73.03% |
Basic Materials | 0.00% | 0.00% | 0.00% | 67.42% |
Weighting | Return Low | Return High | SFPIX % Rank | |
---|---|---|---|---|
US | 97.37% | 0.00% | 106.77% | 61.80% |
Non US | 0.00% | 0.00% | 99.42% | 78.65% |
SFPIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 3.05% | 0.08% | 13.33% | 4.49% |
Management Fee | 1.25% | 0.03% | 1.25% | 98.89% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.10% | 0.25% | 23.53% |
SFPIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
SFPIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 2.00% | 44.44% |
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.
SFPIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 59.00% | 3.00% | 406.00% | 71.79% |
SFPIX | Category Low | Category High | SFPIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 11.71% | 96.67% |
SFPIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annual | SemiAnnual | Annual |
SFPIX | Category Low | Category High | SFPIX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.34% | -0.76% | 10.57% | 91.01% |
SFPIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Semi-Annually |
Date | Amount | Type |
---|---|---|
Dec 08, 2023 | $0.436 | CapitalGainLongTerm |
Dec 09, 2022 | $0.469 | CapitalGainLongTerm |
Dec 10, 2021 | $0.226 | CapitalGainShortTerm |
Dec 10, 2021 | $0.284 | CapitalGainLongTerm |
Dec 11, 2020 | $0.340 | CapitalGainLongTerm |
Dec 11, 2019 | $0.213 | OrdinaryDividend |
Dec 11, 2019 | $0.213 | CapitalGainLongTerm |
Dec 12, 2018 | $1.684 | CapitalGainLongTerm |
Dec 20, 2007 | $1.150 | CapitalGainLongTerm |
Dec 20, 2006 | $1.690 | CapitalGainShortTerm |
Dec 20, 2006 | $0.540 | CapitalGainLongTerm |
Dec 14, 2005 | $0.060 | CapitalGainShortTerm |
Dec 14, 2005 | $0.810 | CapitalGainLongTerm |
Dec 30, 2004 | $0.690 | CapitalGainLongTerm |
Start Date
Tenure
Tenure Rank
Dec 29, 2015
6.42
6.4%
Stephen S. Smith, CFA, is Chief Executive Officer and Chief Investment Officer and founder of Smith Group. Prior to Smith Group, he held a number of senior investment positions at Bank of America until he departed in 1995 to found Smith Group. Mr. Smith has an engineering degree and an MBA, both from the University of Alabama. He is a member of the CFA Institute and the CFA Society of Dallas-Ft. Worth.
Start Date
Tenure
Tenure Rank
Dec 29, 2015
6.42
6.4%
John D. Brim, CFA, Chief Investment Officer,joined Smith Group in March 1998 and is a member of the investment management team.Prior to joining the firm, he was a manager within the institutional investment consulting group of Deloitte & Touche from 1997 to 1998. From 1990 to 1997, Brim held a variety of positions, including senior client manager with NationsBank Asset Management in Dallas. He earned his bachelor's degree in economics from Texas A&M University. He is a member of the CFA Institute and the CFA Society of Dallas-Fort Worth.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 25.42 | 9.61 | 4.58 |
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