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Trending ETFs

Steward Equity Market Neutral Fund

mutual fund
SMNAX
Payout Change
Pending
Price as of:
$29.35 +0.09 +0.31%
primary theme
N/A
share class
SMNAX (Mutual Fund)

Steward Equity Market Neutral Fund

Payout Change
Pending
Price as of:
$29.35 +0.09 +0.31%
primary theme
N/A
share class
SMNAX (Mutual Fund)

Steward Equity Market Neutral Fund

Payout Change
Pending
Price as of:
$29.35 +0.09 +0.31%
primary theme
N/A
share class

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

$29.35

$71.9 M

3.67%

$1.08

2.27%

Vitals

YTD Return

7.5%

1 yr return

12.2%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$71.9 M

Holdings in Top 10

13.4%

52 WEEK LOW AND HIGH

$29.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.27%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


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

$29.35

$71.9 M

3.67%

$1.08

2.27%

SMNAX - Profile

Distributions

  • YTD Total Return 7.5%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 3.7%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Steward Equity Market Neutral Fund
  • Fund Family Name
    Crossmark Global Investments, Inc.
  • Inception Date
    Nov 15, 2021
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

The Fund pursues its investment objective utilizing a market neutral strategy, the goal of which is to generate absolute returns that are due primarily to stock selection, rather than the returns and direction of the stock market. Under normal market conditions, the Fund invests at least 80% of its assets in equity securities.* The Fund implements its market neutral strategy by establishing long and short positions in a diversified portfolio of equity securities, subject to the limitations of the Fund’s values-based screening policies on long positions (see “Values-based Screens” below). Substantially all of the equity securities in which the Fund takes long and short positions will be included in the Russell 1000® Index at the time of purchase. As a result, the Fund will invest significantly in large-capitalization companies. The Fund may invest a portion of its assets in small- and mid‑cap companies. The Fund may also invest in other investment companies and real estate investment trusts.
When the Fund takes a long position in a security, it purchases the security outright. When the Fund takes a short position, it sells a security that the Fund does not own at the current market price and delivers to the buyer a security that the Fund has borrowed. The Fund is obligated to return the security to the lender, which is accomplished by a later purchase of the security by the Fund. Until the borrowed security is replaced, the Fund is required to pay to the lender amounts equal to any dividends or interest that accrue during the period of the loan. In addition, to borrow the security, the Fund may be required to pay a premium to the lender. The Fund may use all or a portion of the proceeds of its short sales to purchase additional long positions.
Portfolio management will invest in long positions that are expected to deliver the overall returns of the stock market, plus additional performance unique to the specific stocks purchased by portfolio management. The short positions selected by portfolio management are expected to deliver the inverse of the overall returns of the stock market, plus additional performance unique to the specific stocks sold short by portfolio management. The goal is that, over time, the stock market exposure of the combined long and short positions will be minimized, producing a net return due primarily to portfolio management’s stock selection process, rather than stock market movements. At times, however, the Fund may have more exposure to the stock market (either positive or negative) in order to take advantage of market opportunities. At any time, the Fund’s net long exposure to the stock market (long market value minus short market value) could range between ‑20% and 40%.
*
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.
Portfolio management will select securities using an investment process that combines quantitative techniques, fundamental analysis and risk management. Securities generally are added to the portfolio as long or short positions based both on security rankings provided by multi-factor quantitative models and on fundamental analysis of the securities. In addition, portfolio management will utilize risk management techniques to establish constraints on the amounts invested in individual securities and sectors. Portfolio management generally will decrease or eliminate a short or long position in a security if the security’s model ranking changes significantly or research reveals a significant change in the company’s fundamentals. Crossmark uses data from multiple third-party providers in the multi-factor quantitative models.
Through its multi-factor quantitative models and fundamental analysis, portfolio management may consider, among other factors, a company’s valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends when deciding whether to buy or sell investments. With respect to the rankings provided by the multi-factor quantitative models, the models also include a component for identifying companies that, through their activities, both externally and internally, seek to reduce risk and create long-term resilience through sustainable and responsible business practices. Crossmark believes that such companies exhibit positive values, including, but not limited to, the fair treatment of employees, respect for the environment, positive engagement with the communities in which they operate, and responsible governance practices. This component of the multi-factor quantitative models is based on data and ratings generated by multiple third-party providers unaffiliated with Crossmark.
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 long positions 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 long positions in companies that do not pass the values-based screening criteria, it will divest itself, in a timely manner, of long positions in 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 in long positions of 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. The Fund does not apply the values-based screens to the short positions held in the Fund.
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 long positions. 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 for long positions 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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SMNAX - Performance

Return Ranking - Trailing

Period SMNAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.5% N/A N/A N/A
1 Yr 12.2% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period SMNAX Return Category Return Low Category Return High Rank in Category (%)
2023 -3.9% N/A N/A N/A
2022 10.8% N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

Total Return Ranking - Trailing

Period SMNAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.5% N/A N/A N/A
1 Yr 12.2% N/A N/A N/A
3 Yr N/A* N/A N/A N/A
5 Yr N/A* N/A N/A N/A
10 Yr N/A* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period SMNAX Return Category Return Low Category Return High Rank in Category (%)
2023 0.7% N/A N/A N/A
2022 10.9% N/A N/A N/A
2021 N/A N/A N/A N/A
2020 N/A N/A N/A N/A
2019 N/A N/A N/A N/A

NAV & Total Return History


SMNAX - Holdings

Concentration Analysis

SMNAX Category Low Category High SMNAX % Rank
Net Assets 71.9 M N/A N/A N/A
Number of Holdings 230 N/A N/A N/A
Net Assets in Top 10 10.5 M N/A N/A N/A
Weighting of Top 10 13.40% N/A N/A N/A

Top 10 Holdings

  1. Northern Inst Fds TREAS PRT PRMR 4.08%
  2. Equinix, Inc. COM USD0.001 1.06%
  3. Cencora Inc COM USD0.01 1.04%
  4. Acuity Brands, Inc. COM STK USD0.01 1.04%
  5. Grand Canyon Education Inc COM USD0.01 1.04%
  6. MasterCard Incorporated COM USD0.0001 CLASS A 1.04%
  7. The Western Union Company COM STK USD0.01 1.03%
  8. Adobe Inc COM USD0.0001 1.03%
  9. Carters Inc. COM USD0.01 1.02%
  10. Visa Inc COM STK USD0.0001 1.02%

Asset Allocation

Weighting Return Low Return High SMNAX % Rank
Cash
101.74% N/A N/A N/A
Preferred Stocks
0.00% N/A N/A N/A
Other
0.00% N/A N/A N/A
Convertible Bonds
0.00% N/A N/A N/A
Bonds
0.00% N/A N/A N/A
Stocks
-1.74% N/A N/A N/A

SMNAX - Expenses

Operational Fees

SMNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.27% N/A N/A N/A
Management Fee 1.00% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

SMNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

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

SMNAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

SMNAX - Distributions

Dividend Yield Analysis

SMNAX Category Low Category High SMNAX % Rank
Dividend Yield 3.67% N/A N/A N/A

Dividend Distribution Analysis

SMNAX Category Low Category High Category Mod
Dividend Distribution Frequency Annual

Net Income Ratio Analysis

SMNAX Category Low Category High SMNAX % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

SMNAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

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SMNAX - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A