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Sound Mind Investing Fund
mutual fund
SMIFX
Payout Change
Pending
Price as of:
$10.33
-0.09
-0.86%
primary theme
U.S. Growth Allocation
share class
SMIFX (Mutual Fund)
Sound Mind Investing Fund
Payout Change
Pending
Price as of:
$10.33
-0.09
-0.86%
primary theme
U.S. Growth Allocation
share class
SMIFX (Mutual Fund)
Sound Mind Investing Fund
Payout Change
Pending
Price as of:
$10.33
-0.09
-0.86%
primary theme
U.S. Growth Allocation
share class
Name
As of 12/12/2024Price
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
Vitals
YTD Return
22.8%
1 yr return
22.5%
3 Yr Avg Return
-7.1%
5 Yr Avg Return
1.5%
Net Assets
$107 M
Holdings in Top 10
100.0%
52 WEEK LOW AND HIGH
$10.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.48%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 300.02%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500
IRA
$500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/12/2024Price
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
SMIFX - Profile
Distributions
- YTD Total Return 22.8%
- 3 Yr Annualized Total Return -7.1%
- 5 Yr Annualized Total Return 1.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.09%
- Dividend Yield 1.4%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameSound Mind Investing Fund
-
Fund Family NameSMI Funds
-
Inception DateJan 25, 2013
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMark Biller
Fund Description
The SMI Fund seeks to achieve its objective by investing in a diversified portfolio of other investment companies using a “Stock Upgrading” strategy. This strategy is a systematic investment approach that is based on the belief of SMI Advisory Services, LLC (the “Advisor”), the SMI Fund’s adviser, that superior returns can be obtained by constantly monitoring the performance of a wide universe of other investment companies, and standing ready to move assets into funds deemed by the Advisor to be most attractive at the time of analysis. So long as the other investment companies have a track record of at least 12 months, they may be monitored by the Advisor as a potential investment. This upgrading process strives to keep assets invested in funds that are demonstrating superior current performance (meaning the prior 12 months) relative to their peers as determined by a combination of size and investment style criteria.
The SMI Fund primarily invests in the following types of funds: open-end equity mutual funds, exchange-traded funds (“ETFs”), and publicly traded partnerships (“PTPs”) (collectively, “Underlying Funds”) using its Stock Upgrading strategy. Generally, Underlying Funds with the highest momentum scores are chosen. Underlying Funds that do not have the highest momentum scores may not outperform and could, in fact, lose money. These Underlying Funds may, in turn, invest in a broad range of equity securities, including foreign securities and securities of issuers located in emerging markets. Underlying Funds also may invest in other investments, including but not limited to, commodities, fixed income securities of any maturity or credit quality, including high-yield, high-risk debt securities (junk bonds), and they may engage in derivative transactions. The Underlying Funds are typically categorized into the following seven “risk categories”: Large Value, Large Growth, Small Value, Small Growth, International, Commodities, and Non-Diversified (which includes concentrated and other higher-risk funds that are not normally included in the six other risk categories). Target allocations for each of the seven risk categories are monitored continuously and can shift based on relative performance, and holdings for each of the seven risk categories can range from 0% - 66% of the overall Stock Upgrading portfolio. The Stock Upgrading strategy also incorporates defensive protocols and may occasionally shift part or all of the portfolio holdings out of equity funds or commodities and into holdings focused on fixed income and/or cash based on the Advisor’s proprietary indicators.
Additionally, the SMI Fund may also invest in one or more ETFs that employ momentum and trend-based investing strategies, whose managers are affiliated with the SMI Fund. Such investments will be exempted from the 12 months track record requirement discussed above and will be made in accordance with the Investment Company Act of 1940 (the “1940 Act”).
The SMI Fund indirectly will bear its proportionate share of all management fees and other expenses of the Underlying Funds in which it invests. Therefore, the SMI Fund will incur higher expenses than other mutual funds that invest directly in securities. Actual expenses are expected to vary with changes in the allocation of the SMI Fund’s assets among the various Underlying Funds in which it invests.
The Advisor is under common control with the publisher of the Sound Mind Investing Newsletter (the “Newsletter”), a monthly financial publication that recommends a Stock Upgrading strategy similar to the strategy utilized by the SMI Fund. Although Underlying Funds purchased by the SMI Fund generally will be highly ranked in the Newsletter, the SMI Fund may also invest in funds not included in the Newsletter, including Underlying Funds not available to the general public but available only to institutional investors.
It should be noted that, even though the Advisor’s upgrading process ranks Underlying Funds primarily on the basis of performance, past performance is no guarantee of future performance.
SMIFX - Performance
Return Ranking - Trailing
| Period | SMIFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 22.8% | 9.9% | 25.9% | 12.02% |
| 1 Yr | 22.5% | 13.5% | 35.3% | 34.97% |
| 3 Yr | -7.1%* | -7.5% | 7.7% | 100.00% |
| 5 Yr | 1.5%* | 1.7% | 15.1% | 100.00% |
| 10 Yr | 3.7%* | 1.8% | 13.0% | 97.54% |
* Annualized
Return Ranking - Calendar
| Period | SMIFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.4% | -6.6% | 33.6% | 97.27% |
| 2022 | -9.8% | -44.4% | -9.8% | 0.55% |
| 2021 | -24.1% | -24.1% | 18.9% | 100.00% |
| 2020 | 20.8% | -10.9% | 60.4% | 13.50% |
| 2019 | 18.7% | 5.9% | 36.4% | 50.97% |
Total Return Ranking - Trailing
| Period | SMIFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 22.8% | 9.9% | 25.9% | 12.02% |
| 1 Yr | 22.5% | 13.5% | 35.3% | 34.97% |
| 3 Yr | -7.1%* | -7.5% | 7.7% | 100.00% |
| 5 Yr | 1.5%* | 1.7% | 15.1% | 100.00% |
| 10 Yr | 3.7%* | 1.8% | 13.0% | 97.54% |
* Annualized
Total Return Ranking - Calendar
| Period | SMIFX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.2% | 1.4% | 34.9% | 97.81% |
| 2022 | -8.9% | -43.2% | -3.8% | 4.42% |
| 2021 | -24.1% | -24.1% | 26.7% | 100.00% |
| 2020 | 20.8% | -5.3% | 62.8% | 24.54% |
| 2019 | 50.3% | 12.4% | 52.6% | 1.29% |
NAV & Total Return History
SMIFX - Holdings
Concentration Analysis
| SMIFX | Category Low | Category High | SMIFX % Rank | |
|---|---|---|---|---|
| Net Assets | 107 M | 10.9 M | 130 B | 86.89% |
| Number of Holdings | 41 | 5 | 8145 | 21.31% |
| Net Assets in Top 10 | 108 M | 7.75 M | 26.1 B | 84.70% |
| Weighting of Top 10 | 99.98% | 20.0% | 106.4% | 19.13% |
Top 10 Holdings
- SMI 3Fourteen Full-Cycle Trend ETF 50.52%
- Hennessey Cornerstone Mid Cap 30 Fund 10.37%
- iShares Russell 2000 Value ETF 9.24%
- Fidelty Blue Chip Growth ETF 8.13%
- iShares Russell 1000 Growth ETF 7.26%
- Invesco SP 500 Momentum ETF 4.77%
- HENNESSY CORNERSTONE GROWTH FUND 4.70%
- Alpha Architect US Quantitative Momentum ETF 3.60%
- Needham Growth Fund 0.91%
- Fidelity Investments Money Market Funds - Government Portfolio 0.48%
Asset Allocation
| Weighting | Return Low | Return High | SMIFX % Rank | |
|---|---|---|---|---|
| Stocks | 99.61% | 0.00% | 100.04% | 32.24% |
| Cash | 0.48% | 0.00% | 15.20% | 53.01% |
| Preferred Stocks | 0.00% | 0.00% | 4.55% | 81.42% |
| Other | 0.00% | -57.83% | 9.83% | 75.96% |
| Convertible Bonds | 0.00% | 0.00% | 3.88% | 93.99% |
| Bonds | 0.00% | 0.00% | 170.81% | 83.06% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | SMIFX % Rank | |
|---|---|---|---|---|
| Energy | 31.98% | 0.00% | 31.98% | 0.55% |
| Financial Services | 12.35% | 9.56% | 42.24% | 82.97% |
| Healthcare | 9.45% | 2.06% | 19.02% | 97.25% |
| Basic Materials | 8.62% | 0.00% | 8.62% | 0.55% |
| Industrials | 7.88% | 1.80% | 14.87% | 92.86% |
| Consumer Defense | 6.86% | 0.47% | 14.80% | 44.51% |
| Technology | 6.49% | 1.75% | 32.38% | 98.35% |
| Consumer Cyclical | 4.87% | 1.15% | 24.72% | 98.35% |
| Communication Services | 4.40% | 1.90% | 13.69% | 96.70% |
| Utilities | 3.56% | 0.00% | 15.29% | 14.29% |
| Real Estate | 3.54% | 0.00% | 28.04% | 47.25% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | SMIFX % Rank | |
|---|---|---|---|---|
| US | 99.61% | 0.00% | 100.04% | 32.24% |
| Non US | 0.00% | 0.00% | 32.92% | 80.33% |
SMIFX - Expenses
Operational Fees
| SMIFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.48% | 0.23% | 3.92% | 24.04% |
| Management Fee | 1.00% | 0.00% | 1.30% | 98.36% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 11.86% |
| Administrative Fee | N/A | 0.01% | 0.28% | 4.74% |
Sales Fees
| SMIFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| SMIFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 2.00% | 52.38% |
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.
| SMIFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 300.02% | 0.18% | 300.02% | 100.00% |
SMIFX - Distributions
Dividend Yield Analysis
| SMIFX | Category Low | Category High | SMIFX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.42% | 0.00% | 8.81% | 38.80% |
Dividend Distribution Analysis
| SMIFX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| SMIFX | Category Low | Category High | SMIFX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.09% | -0.65% | 5.31% | 82.78% |
Capital Gain Distribution Analysis
| SMIFX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Monthly | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 29, 2023 | $0.148 | OrdinaryDividend |
| Dec 30, 2022 | $0.080 | OrdinaryDividend |
| Dec 30, 2019 | $0.048 | OrdinaryDividend |
| Dec 31, 2018 | $0.517 | CapitalGainShortTerm |
| Dec 31, 2018 | $1.634 | CapitalGainLongTerm |
| Dec 31, 2018 | $0.045 | OrdinaryDividend |
| Dec 28, 2017 | $0.483 | CapitalGainShortTerm |
| Dec 28, 2017 | $0.689 | CapitalGainLongTerm |
| Dec 30, 2015 | $1.515 | CapitalGainLongTerm |
| Dec 30, 2014 | $2.194 | CapitalGainLongTerm |
| Dec 30, 2014 | $0.068 | OrdinaryDividend |
| Dec 27, 2013 | $0.049 | OrdinaryDividend |
| Dec 27, 2013 | $0.829 | CapitalGainShortTerm |
| Dec 27, 2013 | $0.684 | CapitalGainLongTerm |
SMIFX - Fund Manager Analysis
Managers
Mark Biller
Start Date
Tenure
Tenure Rank
Dec 02, 2005
16.5
16.5%
Mark Biller has served as senior portfolio manager of the entire family of SMI Funds since their creation in 2005. He played a key role in the design and creation of the Sector Rotation, Dynamic Allocation, and Bond Upgrading strategies followed by the various SMI Funds. As senior portfolio manager, Mr. Biller has ultimate decision-making authority regarding all portfolio decisions and trading practices of the Sound Mind Investing Funds. His duties involve researching and selecting the underlying funds in which the Funds invest, upgrading the Funds’ investments in underlying funds and determining the overall allocation among style categories. In addition to his duties at the Advisor, Mr. Biller has been the Executive Editor of the Sound Mind Investing newsletter and online business for over 15 years. Mr. Biller’s writings on a broad range of financial and investment topics have been featured in a variety of national print and electronic media, and he has also appeared as a financial commentator for various national and local radio programs. The Sound Mind Investing newsletter was first published in 1990 and currently has many thousands of subscribers. Since it was first published over 30 years ago, the newsletter has provided recommendations to tens of thousands of subscribers using a variety of investment strategies, including the Stock Upgrading, Dynamic Asset Allocation, Bond Upgrading and Sector Rotation strategies that are used by the Funds. Mr. Biller earned his B.S. in Finance from Oral Roberts University.
Eric Collier
Start Date
Tenure
Tenure Rank
Dec 02, 2005
16.5
16.5%
Eric Collier, CFA, is a Portfolio Manager responsible for researching and selecting each Fund’s investments, determining overall allocation among style categories, and trading, subject to the ultimate decision-making authority of the Senior Portfolio Manager. Mr. Collier has been a portfolio manager of the Smi Advisory Services, LLC. In addition to his duties at SMI, Mr. Collier is a co-founder of Omnium Investment Company, LLC. At Omnium, he conducts analytical and quantitative research, and risk management. Prior to co-founding Omnium, Mr. Collier worked at Oxford Group, Ltd, a fee-only financial services firm. At Oxford Group, Mr. Collier provided investment advice to several high net-worth individuals concentrating on investment and financial planning strategies. Prior to that Mr. Collier was an Investment Analyst and Registered Investment Adviser Representative for Webb Financial Advisers, an investment advisery firm, from 1997 to 2000, where he was responsible for due diligence and manager selection. Mr. Collier graduated from Indiana University with a B.S. in Finance in 1998. He also studied at the University of Maastricht in the Netherlands through the International Business Program at Indiana University. He has received the Chartered Financial Analyst (“CFA”) designation, and he is a member of the CFA Institute (formerly the Association for Investment Management and Research (“AIMR”)) and a member of the Investment Management Association of Indianapolis.
Anthony Ayers
Start Date
Tenure
Tenure Rank
Dec 02, 2005
16.5
16.5%
Mr. Ayers is a Co-Portfolio Manager responsible for researching and selecting each Fund’s investments, determining overall allocation among style categories, implementing the SMI Managed Volatility Fund’s hedging strategy, and trading, subject to the ultimate decision-making authority of the Senior Portfolio Manager. In addition to his duties at the advisor, Mr. Ayers is a co-founder of Omnium Investment Company, LLC. At Omnium, he also conducts analytical and quantitative research, and risk management. Mr. Ayers helped develop the advisor’s risk management procedures and a proprietary daily risk management reporting system. Prior to co-founding Omnium, Mr. Ayers was an Investment Analyst at Oxford Group, Ltd., where he was responsible for performing manager searches and due diligence on various mutual fund portfolio managers specializing in large capitalized growth and value securities, small capitalized growth and value securities, international capitalized securities, and fixed income securities. Prior to that Mr. Ayers was a Senior Investment Representative for Charles Schwab, where he assisted high net-worth clients with developing and trading complex option strategies, hedging concentrated portfolios, constructing diversified investment portfolios, risk management, and making individual stock and mutual fund recommendations. Mr. Ayers graduated from Indiana University with a B.S. in Finance in 1996, and he is a CFA charter holder.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.19 | 26.6 | 6.51 | 2.41 |
