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Trending ETFs

Easterly Snow Long/Short Opportunity Fund

mutual fund
SNOCX
Payout Change
Pending
Price as of:
$30.37 -0.27 -0.88%
primary theme
Long-Short Equity
SNOCX (Mutual Fund)

Easterly Snow Long/Short Opportunity Fund

Payout Change
Pending
Price as of:
$30.37 -0.27 -0.88%
primary theme
Long-Short Equity
SNOCX (Mutual Fund)

Easterly Snow Long/Short Opportunity Fund

Payout Change
Pending
Price as of:
$30.37 -0.27 -0.88%
primary theme
Long-Short Equity

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

$30.37

$97 M

1.34%

$0.41

2.35%

Vitals

YTD Return

1.0%

1 yr return

7.6%

3 Yr Avg Return

1.7%

5 Yr Avg Return

7.8%

Net Assets

$97 M

Holdings in Top 10

33.6%

52 WEEK LOW AND HIGH

$30.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.35%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover N/A

Redemption Fee 0.50%


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


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

$30.37

$97 M

1.34%

$0.41

2.35%

SNOCX - Profile

Distributions

  • YTD Total Return 1.0%
  • 3 Yr Annualized Total Return 1.7%
  • 5 Yr Annualized Total Return 7.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.18%
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Easterly Snow Long/Short Opportunity Fund
  • Fund Family Name
    Easterly Funds
  • Inception Date
    Apr 28, 2006
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jessica Bemer

Fund Description

To achieve its investment objective, the Long/Short Opportunity Fund will invest primarily in equity securities that Easterly Investment Partners LLC (“Easterly” or the “Adviser”), the Fund’s investment adviser, believes are undervalued, selling short equity securities the Adviser believes are overvalued and selling short equity securities to hedge market risk. The Fund may also invest in options, futures contracts and options on futures contracts (collectively, “Derivative Instruments”) as a substitute for a comparable market position in the underlying equity security or to attempt to “hedge” or limit the exposure of the Fund’s position in an equity security. Long and short investments can include common and preferred stocks, convertible securities, shares of other investment companies and exchange-traded funds (“ETFs”) that invest in equity securities. With a long position, the Fund purchases a security outright, while with a short position, the Fund sells a security that it has borrowed. When the Fund sells a security short, it borrows the security from a third party and sells it at the then-current market price. The Fund is then obligated to buy the security on a later date so that it can return the security to the lender. The Fund may invest in securities of companies of any size and is not managed toward sector or industry weights. In addition to domestic securities, the Fund may have up to 25% of its net assets invested directly or indirectly in foreign securities.

In addition to equity securities, the Fund may invest up to 50% of its net assets in debt securities of varying maturities and durations, including securities issued or guaranteed as to principal and interest by the U.S. Government or its agencies, instrumentalities or sponsored entities, and including debt securities that have been rated below investment grade by a nationally recognized statistical ratings organization (“NRSRO”), commonly referred to as “junk bonds” or “high yield bonds.” However, the Fund will not purchase debt securities rated as in default by an NRSRO. The Fund invests in debt securities when it anticipates that such securities will increase in value. The Fund’s mix of long positions, including debt securities, and short positions will change over time based on the Adviser’s assessment of market conditions. In addition to direct investments in debt securities, the Fund may invest in other investment companies and ETFs that invest in debt securities.

The Adviser selects investments for the Fund using a bottom-up approach that seeks to identify companies that the Adviser believes are undervalued and are likely to experience a rebound in earnings due to an event or series of events that creates a price to earnings expansion that leads to higher stock price valuations. The Adviser generally attempts to purchase equity securities for the Fund’s portfolio after an event in which the company’s equity valuation has fallen and business conditions are unfavorable, if not at or near a cyclical bottom. This is done in conjunction with extensive research to confirm the Adviser’s opinion that a company can survive the near-term problems. While the Adviser’s analysis does not eliminate the occurrence of short-term equity valuation volatility, the Adviser believes that this process provides for a reasonable level of capital protection. The Fund’s portfolio typically consists of 30 to 60 long equity securities that are weighted according to the Adviser’s projected return expectations. In general, the Adviser may sell an investment when it reaches its target price, when the position grows too large, when the company’s financial position or outlook deteriorates, when an anticipated business catalyst for the investment does not materialize as expected, or to make room in the Fund for a more attractive investment.

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SNOCX - Performance

Return Ranking - Trailing

Period SNOCX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.0% -12.1% 23.2% 90.74%
1 Yr 7.6% -12.5% 39.1% 71.60%
3 Yr 1.7%* -20.4% 29.0% 66.20%
5 Yr 7.8%* -4.8% 24.9% 40.77%
10 Yr 3.4%* -4.3% 10.0% 71.43%

* Annualized

Return Ranking - Calendar

Period SNOCX Return Category Return Low Category Return High Rank in Category (%)
2023 8.0% -17.3% 43.8% 35.19%
2022 -10.2% -54.0% 17.4% 53.74%
2021 15.2% -40.0% 54.1% 24.11%
2020 0.4% -47.6% 88.4% 61.48%
2019 20.6% -20.3% 62.6% 7.87%

Total Return Ranking - Trailing

Period SNOCX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.0% -12.1% 23.2% 90.74%
1 Yr 7.6% -12.5% 39.1% 71.60%
3 Yr 1.7%* -20.4% 29.0% 66.20%
5 Yr 7.8%* -4.8% 24.9% 40.77%
10 Yr 3.4%* -4.3% 10.0% 71.43%

* Annualized

Total Return Ranking - Calendar

Period SNOCX Return Category Return Low Category Return High Rank in Category (%)
2023 9.7% -14.5% 43.8% 41.98%
2022 -4.1% -54.0% 50.3% 40.14%
2021 21.8% -40.0% 61.6% 24.82%
2020 0.4% -29.9% 91.0% 68.89%
2019 21.2% -17.9% 79.4% 12.60%

NAV & Total Return History


SNOCX - Holdings

Concentration Analysis

SNOCX Category Low Category High SNOCX % Rank
Net Assets 97 M 1.08 M 6.67 B 45.06%
Number of Holdings 109 2 1906 46.30%
Net Assets in Top 10 32.6 M 639 K 2.09 B 58.02%
Weighting of Top 10 33.59% 2.8% 182.8% 69.75%

Top 10 Holdings

  1. JPMORGAN CHASE 4.86%
  2. COMMERCIAL METAL 4.30%
  3. ISHARES RUSSELL 3.78%
  4. PVH CORP 3.47%
  5. SUNCOR ENERGY 3.43%
  6. AMGEN INC 3.18%
  7. METLIFE INC 2.76%
  8. ADV MICRO DEVICE 2.68%
  9. SANOFI-ADR 2.60%
  10. CITIGROUP INC 2.54%

Asset Allocation

Weighting Return Low Return High SNOCX % Rank
Stocks
81.02% -0.40% 109.75% 30.25%
Cash
17.94% 0.00% 100.51% 54.94%
Bonds
2.76% 0.00% 178.67% 26.54%
Preferred Stocks
0.00% 0.00% 8.29% 17.90%
Convertible Bonds
0.00% -0.02% 4.48% 9.80%
Other
-1.72% -52.70% 99.51% 90.12%

Stock Sector Breakdown

Weighting Return Low Return High SNOCX % Rank
Financial Services
23.53% 0.00% 83.83% 9.09%
Healthcare
17.39% 0.00% 100.00% 26.52%
Consumer Cyclical
14.61% 0.00% 88.83% 13.64%
Industrials
12.77% 0.00% 31.93% 31.82%
Energy
11.35% 0.00% 32.57% 8.33%
Technology
8.18% 0.00% 43.24% 86.36%
Basic Materials
5.94% 0.00% 28.58% 15.15%
Communication Services
2.38% 0.00% 32.32% 87.12%
Utilities
2.00% 0.00% 21.71% 50.76%
Consumer Defense
1.85% 0.00% 33.38% 86.36%
Real Estate
0.00% 0.00% 10.93% 79.55%

Stock Geographic Breakdown

Weighting Return Low Return High SNOCX % Rank
US
81.02% -0.40% 109.75% 27.16%
Non US
0.00% -3.36% 70.87% 26.54%

Bond Sector Breakdown

Weighting Return Low Return High SNOCX % Rank
Cash & Equivalents
2.08% 0.00% 88.63% 67.90%
Securitized
0.00% 0.00% 13.59% 11.18%
Corporate
0.00% 0.00% 99.80% 19.74%
Municipal
0.00% 0.00% 0.07% 9.21%
Government
0.00% 0.00% 58.54% 30.92%
Derivative
-1.72% -52.70% 99.51% 90.12%

Bond Geographic Breakdown

Weighting Return Low Return High SNOCX % Rank
US
2.76% 0.00% 178.67% 26.54%
Non US
0.00% 0.00% 15.97% 8.02%

SNOCX - Expenses

Operational Fees

SNOCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.35% 0.42% 8.51% 37.65%
Management Fee 0.80% 0.00% 2.50% 12.35%
12b-1 Fee 1.00% 0.00% 1.00% 79.78%
Administrative Fee N/A 0.03% 1.54% N/A

Sales Fees

SNOCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load 1.00% 1.00% 4.00% 11.76%

Trading Fees

SNOCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 0.50% 0.50% 2.00% 90.48%

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.

SNOCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 479.00% 43.87%

SNOCX - Distributions

Dividend Yield Analysis

SNOCX Category Low Category High SNOCX % Rank
Dividend Yield 1.34% 0.00% 27.22% 51.55%

Dividend Distribution Analysis

SNOCX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual SemiAnnual Annual

Net Income Ratio Analysis

SNOCX Category Low Category High SNOCX % Rank
Net Income Ratio -0.18% -3.33% 2.16% 30.00%

Capital Gain Distribution Analysis

SNOCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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SNOCX - Fund Manager Analysis

Managers

Jessica Bemer


Start Date

Tenure

Tenure Rank

Oct 01, 2014

7.67

7.7%

Jessica W. Bemer, CFA, is a Portfolio Manager and Principal at SCM. Ms. Bemer joined Snow Capital in 2006 as a Senior Analyst. In 2014, she was appointed a Portfolio Manager of the Snow Capital Investment Partners L.P. Prior to joining the firm, she worked at Jennison Associates, an institutional asset management firm based in New York, where she served as a member of the equity research team. Jessica was responsible for research coverage of the companies in the consumer discretionary and consumer staples sectors. Jessica is a graduate of Georgetown University. She is a Chartered Financial Analyst and member of the CFA Institute.

Anne Wickland


Start Date

Tenure

Tenure Rank

Sep 30, 2016

5.67

5.7%

Anne Wickland joined Snow Capital in 2006 as a Senior Analyst. In 2010, she was appointed a Portfolio Manager of the Small Cap Value portfolio. Prior to joining the firm, she worked at Prudential Equity Group, Credit Suisse and J.P. Morgan where she was responsible for research coverage in the specialty hardlines retail, household and personal care sectors. She is a graduate of Davidson College where she earned a B.A. degree. Anne received her MBA from the NYU Stern School of Business. She is a Chartered Financial Analyst and member of the CFA Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 23.55 6.01 7.93