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 12/12/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
5.9%
1 yr return
6.3%
3 Yr Avg Return
2.7%
5 Yr Avg Return
N/A
Net Assets
$44.6 M
Holdings in Top 10
17.7%
Expense Ratio 0.48%
Front Load N/A
Deferred Load N/A
Turnover 39.26%
Redemption Fee N/A
Standard (Taxable)
$10,000,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/12/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
To pursue its investment objective, the Fund invests, under normal circumstances, at least 80% of its net assets plus borrowings for investment purposes in investment grade fixed income securities (bonds).
The Fund invests primarily in the following types of fixed income securities: (i) corporate debt securities, including bonds, notes and debentures, issued by U.S. companies that are investment grade (i.e., 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); (ii) securities issued or guaranteed by the U.S. government or its agencies and instrumentalities, some of which may be subject to repurchase agreements; (iii) investment grade mortgage-backed securities, including collateralized mortgage obligations; (iv) investment grade asset-backed securities; and (v) U.S. dollar-denominated foreign and emerging market securities. Additionally, the Fund will invest in municipal securities, convertible securities, including convertible bonds and preferred stocks, and cash equivalents. The Fund may invest up to 15% of its total assets in bonds that are below investment grade, which are commonly referred to as “high yield” or “junk” bonds, and non-dollar denominated foreign and emerging market securities. The Fund will maintain an average duration between 1 and 3 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. 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.
The Fund may invest in certain types of derivative instruments for hedging and investment purposes. Although the Fund may invest in derivatives of any kind, the Fund currently expects to invest in futures contracts and forward foreign currency contracts to gain efficient investment exposures as an alternative to cash investments or to hedge against portfolio exposures, and credit default swaps and interest rate swaps to gain indirect exposure to interest rates, issuers, currencies, or market sectors, or to hedge against portfolio exposures.
In managing the portfolio, the portfolio manager uses a “top down” investment management approach focusing on allocation among sectors, credit risk, and individual securities selection. The portfolio manager focuses on macro trends in the economy to establish a duration target that reflects the outlook for the future direction of interest rates. For yield curve management, in addition to the trend in interest rates, other factors such as future inflation expectations, supply factors, and future interest rate expectations are considered. Sector weightings are driven by a combination of the portfolio manager’s macro view on interest rates and volatility as well as relative spread analysis. Utilizing fundamental analysis the portfolio manager then selects individual securities consistent with the target by looking for the best relative values within particular sectors. The analysis includes an attempt to understand the structure and embedded features of potential securities. Features that are analyzed include puts, calls, sinking fund requirements (scheduled early retirements of the specific debt instrument), prepayment and extension risk, and individual company financial data for potential corporate holdings. Scenario analysis is the primary tool employed for these assessments.
The portfolio manager may consider selling a security owned by the Fund to reduce exposure to a particular sector, if the portfolio manager sees a deterioration in the underlying fundamentals of an issuer or if the actions of the issuer violate the investment thesis of owning the security (or, in another words, the original reasoning for purchasing the security), when the portfolio managers finds other attractive securities that the portfolio manager believes are less expensive and offer relatively greater income or growth potential, and in response to macro level adjustments to duration and yield curve contributions (which are changes made to portfolio duration or yield curve positioning due to changes in the portfolio manager’s macroeconomic outlook). The portfolio manager may consider environmental, social and governance (“ESG”) factors as part of the investment process for selecting corporate debt securities and securitized obligations (including asset-backed securities, commercial mortgage-backed securities and collateralized mortgage obligations).
Period | SHTRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.9% | 0.9% | 19.9% | 18.04% |
1 Yr | 6.3% | 2.4% | 21.5% | 25.72% |
3 Yr | 2.7%* | -5.0% | 6.1% | 13.04% |
5 Yr | N/A* | -3.8% | 5.8% | 20.33% |
10 Yr | N/A* | -18.5% | 170.6% | 29.69% |
* Annualized
Period | SHTRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.0% | -1.6% | 7.6% | 48.85% |
2022 | -5.5% | -17.7% | -2.6% | 18.20% |
2021 | N/A | -4.0% | 4.4% | N/A |
2020 | N/A | -7.1% | 7.6% | N/A |
2019 | N/A | -2.3% | 9.3% | N/A |
Period | SHTRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.9% | 0.9% | 19.9% | 18.04% |
1 Yr | 6.3% | 2.4% | 21.5% | 25.72% |
3 Yr | 2.7%* | -5.0% | 6.1% | 13.04% |
5 Yr | N/A* | -3.8% | 5.8% | 19.23% |
10 Yr | N/A* | -18.5% | 170.6% | 27.90% |
* Annualized
Period | SHTRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.7% | 1.8% | 15.2% | 45.77% |
2022 | -2.9% | -17.3% | -1.3% | 6.07% |
2021 | N/A | -2.7% | 7.7% | N/A |
2020 | N/A | -2.4% | 14.5% | N/A |
2019 | N/A | 0.6% | 12.6% | N/A |
SHTRX | Category Low | Category High | SHTRX % Rank | |
---|---|---|---|---|
Net Assets | 44.6 M | 14.5 K | 57.3 B | 94.64% |
Number of Holdings | 119 | 2 | 8314 | 83.91% |
Net Assets in Top 10 | 8.07 M | 1.05 M | 6.81 B | 97.51% |
Weighting of Top 10 | 17.73% | 2.0% | 108.1% | 71.07% |
Weighting | Return Low | Return High | SHTRX % Rank | |
---|---|---|---|---|
Bonds | 65.58% | 0.00% | 131.65% | 82.57% |
Other | 33.28% | -0.97% | 73.75% | 7.09% |
Convertible Bonds | 1.56% | 0.00% | 27.71% | 69.48% |
Cash | 0.58% | -20.59% | 68.64% | 81.42% |
Preferred Stocks | 0.56% | 0.00% | 24.12% | 8.05% |
Stocks | 0.00% | 0.00% | 99.96% | 83.72% |
Weighting | Return Low | Return High | SHTRX % Rank | |
---|---|---|---|---|
Corporate | 56.90% | 0.00% | 99.82% | 24.18% |
Securitized | 24.03% | 0.00% | 97.27% | 54.89% |
Government | 14.09% | 0.00% | 73.63% | 59.31% |
Municipal | 3.39% | 0.00% | 14.41% | 5.18% |
Cash & Equivalents | 0.17% | 0.00% | 68.64% | 77.78% |
Derivative | 0.00% | -0.72% | 25.70% | 72.80% |
Weighting | Return Low | Return High | SHTRX % Rank | |
---|---|---|---|---|
US | 65.58% | 0.00% | 126.86% | 81.23% |
Non US | 0.00% | 0.00% | 87.70% | 81.80% |
SHTRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.48% | 0.01% | 3.29% | 71.73% |
Management Fee | 0.20% | 0.00% | 1.19% | 18.20% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 11.61% |
Administrative Fee | 0.11% | 0.01% | 0.41% | 69.19% |
SHTRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 5.75% | N/A |
Deferred Load | N/A | 0.50% | 4.00% | N/A |
SHTRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 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.
SHTRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 39.26% | 2.00% | 500.00% | 22.08% |
SHTRX | Category Low | Category High | SHTRX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.82% | 0.00% | 11.11% | 53.07% |
SHTRX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
SHTRX | Category Low | Category High | SHTRX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.52% | -1.27% | 4.98% | 29.43% |
SHTRX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Nov 29, 2024 | $0.034 | OrdinaryDividend |
Oct 31, 2024 | $0.035 | OrdinaryDividend |
Sep 30, 2024 | $0.035 | OrdinaryDividend |
Aug 30, 2024 | $0.035 | OrdinaryDividend |
Jul 31, 2024 | $0.034 | OrdinaryDividend |
Mar 28, 2024 | $0.032 | OrdinaryDividend |
Feb 29, 2024 | $0.030 | OrdinaryDividend |
Jan 31, 2024 | $0.031 | OrdinaryDividend |
Dec 29, 2023 | $0.037 | OrdinaryDividend |
Nov 30, 2023 | $0.028 | OrdinaryDividend |
Oct 31, 2023 | $0.027 | OrdinaryDividend |
Sep 29, 2023 | $0.026 | OrdinaryDividend |
Aug 31, 2023 | $0.026 | OrdinaryDividend |
Jul 31, 2023 | $0.025 | OrdinaryDividend |
Jun 30, 2023 | $0.023 | OrdinaryDividend |
May 31, 2023 | $0.023 | OrdinaryDividend |
Apr 28, 2023 | $0.021 | OrdinaryDividend |
Mar 31, 2023 | $0.021 | OrdinaryDividend |
Feb 28, 2023 | $0.018 | OrdinaryDividend |
Jan 31, 2023 | $0.018 | OrdinaryDividend |
Dec 29, 2022 | $0.019 | OrdinaryDividend |
Nov 30, 2022 | $0.019 | OrdinaryDividend |
Oct 31, 2022 | $0.019 | OrdinaryDividend |
Sep 30, 2022 | $0.017 | OrdinaryDividend |
Aug 31, 2022 | $0.017 | OrdinaryDividend |
Jul 28, 2022 | $0.017 | OrdinaryDividend |
Jun 29, 2022 | $0.016 | OrdinaryDividend |
May 31, 2022 | $0.017 | OrdinaryDividend |
Apr 29, 2022 | $0.017 | OrdinaryDividend |
Mar 30, 2022 | $0.017 | OrdinaryDividend |
Feb 25, 2022 | $0.015 | OrdinaryDividend |
Jan 28, 2022 | $0.016 | OrdinaryDividend |
Dec 31, 2021 | $0.017 | OrdinaryDividend |
Nov 30, 2021 | $0.015 | OrdinaryDividend |
Oct 29, 2021 | $0.016 | OrdinaryDividend |
Sep 30, 2021 | $0.016 | OrdinaryDividend |
Aug 31, 2021 | $0.017 | OrdinaryDividend |
Jul 30, 2021 | $0.018 | OrdinaryDividend |
Jun 30, 2021 | $0.017 | OrdinaryDividend |
May 28, 2021 | $0.018 | OrdinaryDividend |
Apr 30, 2021 | $0.018 | OrdinaryDividend |
Mar 31, 2021 | $0.013 | OrdinaryDividend |
Feb 26, 2021 | $0.021 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Feb 01, 2011
11.33
11.3%
Mr. Montgomery is a Senior Managing Director. Mr. Montgomery joined the firm in 1997 and is a Senior Fixed Income Portfolio Manager and head of Sterling Capital’s Fixed Income Portfolio Management. He has investment experience since 1990. Prior to joining Sterling Capital, he worked at The Vanguard Group for seven years working on their long-term and high-yield municipal portfolio management team. Mr. Montgomery is a graduate of West Chester University where he received his B.S. in Marketing and holds a minor in Public Administration. He received his M.B.A. from Drexel University with a concentration in investment management. He is a CFA charterholder.
Start Date
Tenure
Tenure Rank
Feb 01, 2020
2.33
2.3%
Mr. Brown is an Executive Director, Fixed Income Portfolio Manager and head of Sterling Capital’s Corporate Credit Team. He has been with Sterling Capital since 2004 and has investment experience since 2000. Prior to joining Sterling Capital, he held financial analyst positions at National Institutes of Health and First Union National Bank/First Union Securities. Mr. Brown received his B.S. in Statistics with minors in Business Management, Marketing and Communications from Cornell University and his M.B.A. from Wake Forest University. He is a CFA charterholder.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 28.77 | 6.16 | 2.41 |
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