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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 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
3.8%
1 yr return
6.8%
3 Yr Avg Return
-1.3%
5 Yr Avg Return
0.9%
Net Assets
$2.73 B
Holdings in Top 10
29.7%
Expense Ratio 0.99%
Front Load N/A
Deferred Load N/A
Turnover N/A
Redemption Fee N/A
Standard (Taxable)
$2,500
IRA
$500
Fund Type
Open End Mutual Fund
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund pursues its investment objective by primarily investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in bonds. Bonds include, but are not limited to, government notes and bonds, corporate bonds, convertible bonds, commercial and residential mortgage-backed securities, and zero-coupon bonds. The Fund will target a weighted average effective duration +/- 30% of the current effective duration of the Bloomberg Barclays U.S. Aggregate Bond Index. The Fund does not intend to invest in contingent convertible bonds.
The Fund may also invest in asset-backed securities, money market instruments, commercial loans, and foreign debt securities (including investments in emerging markets). Investments in high yield/high risk bonds (also known as “junk” bonds) are expected to represent, under normal market conditions, less than 20% of the Fund’s net assets. The Fund has the flexibility to invest up to 35% of its net assets in such instruments to allow the Fund to take advantage of opportunities in the market that meet the overall investment criteria, but that may temporarily increase the proportion of high yield investments in the Fund. Under normal market conditions, investments in non-agency mortgage-backed securities are expected to comprise not more than 20% of the Fund’s net assets and investments in non-agency commercial mortgage-backed securities are expected to be less than 5% of the Fund’s net assets. The Fund’s investments in agency mortgage-backed securities are generally not subject to limitation, except to the extent such investments would be inconsistent with another stated investment strategy or policy.
The Fund seeks to generate total return from a combination of current income and capital appreciation, but income is usually the dominant portion. In selecting securities, Smith Capital Investors considers many factors, including yield, credit ratings, liquidity, call risk, duration, structure, and capital appreciation potential. Due to the nature of the process and the securities in which the Fund invests, it may have relatively high portfolio turnover compared to other funds.
Though the Fund does not typically expect to use derivatives, for purposes of meeting its policy to invest at least 80% of net assets in bonds, the Fund may include derivatives that have characteristics similar to the securities in which the Fund may directly invest. In addition to considering economic factors such as the effect of interest rates on the Fund’s investments, the portfolio manager typically applies a “bottom up” approach in choosing investments. This means that the portfolio manager looks at income producing securities one at a time to determine if a security is an attractive investment opportunity and if it is consistent with the Fund’s investment policies. The portfolio manager additionally considers the expected risk-adjusted return on a particular investment and the Fund’s overall risk allocations and volatility.
Period | SMTRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.8% | -4.8% | 12.0% | 36.68% |
1 Yr | 6.8% | -2.8% | 14.8% | 34.82% |
3 Yr | -1.3%* | -10.1% | 28.3% | 18.42% |
5 Yr | 0.9%* | -7.3% | 58.7% | 22.15% |
10 Yr | N/A* | -2.9% | 73.9% | N/A |
* Annualized
Period | SMTRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.9% | -16.2% | 8.1% | 61.75% |
2022 | -14.7% | -34.7% | 131.9% | 16.28% |
2021 | -2.5% | -11.6% | 4.4% | 16.13% |
2020 | 5.8% | -9.9% | 946.1% | 17.26% |
2019 | 6.3% | -1.7% | 16.9% | 25.69% |
Period | SMTRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.8% | -4.8% | 12.0% | 36.68% |
1 Yr | 6.8% | -2.8% | 14.8% | 34.82% |
3 Yr | -1.3%* | -10.1% | 28.3% | 18.42% |
5 Yr | 0.9%* | -7.3% | 58.7% | 22.15% |
10 Yr | N/A* | -2.9% | 73.9% | N/A |
* Annualized
Period | SMTRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.9% | -11.3% | 11.9% | 53.22% |
2022 | -12.4% | -32.2% | 131.9% | 16.28% |
2021 | -0.9% | -9.4% | 9.2% | 44.49% |
2020 | 9.4% | -1.9% | 1009.0% | 26.93% |
2019 | 8.1% | 1.1% | 21668.0% | 70.83% |
SMTRX | Category Low | Category High | SMTRX % Rank | |
---|---|---|---|---|
Net Assets | 2.73 B | 2.9 M | 314 B | 37.82% |
Number of Holdings | 1652 | 1 | 17880 | 27.10% |
Net Assets in Top 10 | 911 M | 1.62 M | 35.1 B | 31.46% |
Weighting of Top 10 | 29.69% | 4.7% | 3984.6% | 30.97% |
Weighting | Return Low | Return High | SMTRX % Rank | |
---|---|---|---|---|
Bonds | 97.99% | 0.00% | 9231.88% | 34.61% |
Convertible Bonds | 1.55% | 0.00% | 7.93% | 47.38% |
Cash | 1.48% | -54.51% | 237.69% | 67.29% |
Preferred Stocks | 0.53% | 0.00% | 72.34% | 9.14% |
Other | 0.00% | -27.25% | 1695.17% | 80.06% |
Stocks | 0.00% | 0.00% | 99.98% | 96.89% |
Weighting | Return Low | Return High | SMTRX % Rank | |
---|---|---|---|---|
Corporate | 50.57% | 0.00% | 100.00% | 9.41% |
Government | 31.57% | 0.00% | 86.23% | 34.83% |
Securitized | 15.41% | 0.00% | 98.40% | 88.91% |
Cash & Equivalents | 1.18% | 0.00% | 237.69% | 68.43% |
Derivative | 0.00% | -6.56% | 44.82% | 69.06% |
Municipal | 0.00% | 0.00% | 100.00% | 98.85% |
Weighting | Return Low | Return High | SMTRX % Rank | |
---|---|---|---|---|
US | 97.99% | 0.00% | 9042.62% | 32.71% |
Non US | 0.00% | 0.00% | 189.26% | 96.57% |
SMTRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.99% | 0.01% | 39.64% | 26.33% |
Management Fee | 0.55% | 0.00% | 1.76% | 94.86% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 62.58% |
Administrative Fee | N/A | 0.01% | 0.50% | N/A |
SMTRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
SMTRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 56.00% |
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.
SMTRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 2.00% | 493.39% | 86.72% |
SMTRX | Category Low | Category High | SMTRX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.92% | 0.00% | 10.11% | 32.85% |
SMTRX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
SMTRX | Category Low | Category High | SMTRX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.55% | -1.28% | 4.79% | 60.46% |
SMTRX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Nov 21, 2024 | $0.032 | OrdinaryDividend |
Oct 24, 2024 | $0.035 | OrdinaryDividend |
Sep 29, 2024 | $0.034 | OrdinaryDividend |
Aug 29, 2024 | $0.034 | OrdinaryDividend |
Jul 25, 2024 | $0.035 | OrdinaryDividend |
Apr 25, 2024 | $0.035 | OrdinaryDividend |
Mar 21, 2024 | $0.035 | OrdinaryDividend |
Feb 22, 2024 | $0.033 | OrdinaryDividend |
Jan 25, 2024 | $0.033 | OrdinaryDividend |
Dec 22, 2023 | $0.033 | OrdinaryDividend |
Nov 16, 2023 | $0.033 | OrdinaryDividend |
Oct 26, 2023 | $0.034 | OrdinaryDividend |
Sep 28, 2023 | $0.033 | OrdinaryDividend |
Aug 24, 2023 | $0.032 | OrdinaryDividend |
Jul 27, 2023 | $0.033 | OrdinaryDividend |
Jun 29, 2023 | $0.032 | OrdinaryDividend |
May 25, 2023 | $0.032 | OrdinaryDividend |
Apr 27, 2023 | $0.029 | OrdinaryDividend |
Mar 30, 2023 | $0.029 | OrdinaryDividend |
Feb 23, 2023 | $0.023 | OrdinaryDividend |
Jan 26, 2023 | $0.028 | OrdinaryDividend |
Dec 23, 2022 | $0.026 | OrdinaryDividend |
Nov 17, 2022 | $0.023 | OrdinaryDividend |
Oct 27, 2022 | $0.027 | OrdinaryDividend |
Sep 29, 2022 | $0.020 | OrdinaryDividend |
Aug 25, 2022 | $0.021 | OrdinaryDividend |
Jul 27, 2022 | $0.024 | OrdinaryDividend |
Jun 23, 2022 | $0.019 | OrdinaryDividend |
May 26, 2022 | $0.023 | OrdinaryDividend |
Apr 27, 2022 | $0.021 | OrdinaryDividend |
Mar 24, 2022 | $0.018 | OrdinaryDividend |
Feb 24, 2022 | $0.022 | OrdinaryDividend |
Jan 27, 2022 | $0.024 | OrdinaryDividend |
Dec 23, 2021 | $0.018 | OrdinaryDividend |
Nov 18, 2021 | $0.019 | OrdinaryDividend |
Oct 27, 2021 | $0.019 | OrdinaryDividend |
Sep 23, 2021 | $0.014 | OrdinaryDividend |
Aug 26, 2021 | $0.017 | OrdinaryDividend |
Jul 29, 2021 | $0.014 | OrdinaryDividend |
Jun 24, 2021 | $0.014 | OrdinaryDividend |
May 27, 2021 | $0.016 | OrdinaryDividend |
Apr 28, 2021 | $0.014 | OrdinaryDividend |
Mar 25, 2021 | $0.016 | OrdinaryDividend |
Feb 25, 2021 | $0.013 | OrdinaryDividend |
Jan 28, 2021 | $0.015 | OrdinaryDividend |
Dec 24, 2020 | $0.207 | OrdinaryDividend |
Nov 19, 2020 | $0.016 | OrdinaryDividend |
Oct 28, 2020 | $0.016 | OrdinaryDividend |
Sep 24, 2020 | $0.015 | OrdinaryDividend |
Aug 27, 2020 | $0.016 | OrdinaryDividend |
Jul 30, 2020 | $0.018 | OrdinaryDividend |
Jun 25, 2020 | $0.018 | OrdinaryDividend |
May 28, 2020 | $0.015 | OrdinaryDividend |
Apr 23, 2020 | $0.013 | OrdinaryDividend |
Mar 26, 2020 | $0.015 | OrdinaryDividend |
Feb 27, 2020 | $0.016 | OrdinaryDividend |
Jan 30, 2020 | $0.014 | OrdinaryDividend |
Dec 24, 2019 | $0.015 | OrdinaryDividend |
Dec 24, 2019 | $0.096 | CapitalGainShortTerm |
Dec 24, 2019 | $0.000 | CapitalGainLongTerm |
Nov 20, 2019 | $0.015 | OrdinaryDividend |
Oct 23, 2019 | $0.017 | OrdinaryDividend |
Sep 25, 2019 | $0.015 | OrdinaryDividend |
Aug 28, 2019 | $0.016 | OrdinaryDividend |
Jul 24, 2019 | $0.018 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Jun 29, 2018
3.92
3.9%
Mr. Smith is the Chief Investment Officer of Smith Capital Investors, LLC. Prior to his association with Smith Capital Investors, Mr. Smith was with Janus Capital from 2001 until March 2016. He served as the Chief Investment Officer of Fixed Income for Janus Capital from 2006 to 2016. Mr. Smith holds a Bachelor’s degree in Economics from the University of Colorado.
Start Date
Tenure
Tenure Rank
Apr 10, 2019
3.14
3.1%
Mr. Bernum is an Investor with Smith Capital Investors, LLC, and has served as portfolio manager of the Funds since 2019. Prior to his association with Smith Capital Investors, Mr. Bernum was an Executive Director, Senior Portfolio Manager at J.P. Morgan Asset Management from 2017 to 2018. Before that, Mr. Bernum was at Janus Capital Group from 2004 to 2017 holding various positions including Assistant Portfolio Manager and the Co-Head of Global Fixed Income Trading. Mr. Bernum holds a Bachelor’s degree in Finance from Colorado State University.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 33.43 | 6.77 | 1.16 |
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