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Trending ETFs

Symmetry Panoramic US Fixed Income Fund

mutual fund
SPUBX
Payout Change
Pending
Price as of:
$9.51 +0.02 +0.21%
primary theme
U.S. Intermediate-Term Bond Duration
share class
SPUBX (Mutual Fund)

Symmetry Panoramic US Fixed Income Fund

Payout Change
Pending
Price as of:
$9.51 +0.02 +0.21%
primary theme
U.S. Intermediate-Term Bond Duration
share class
SPUBX (Mutual Fund)

Symmetry Panoramic US Fixed Income Fund

Payout Change
Pending
Price as of:
$9.51 +0.02 +0.21%
primary theme
U.S. Intermediate-Term Bond Duration
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

$9.51

$208 M

0.34%

$0.03

0.69%

Vitals

YTD Return

0.4%

1 yr return

3.2%

3 Yr Avg Return

-1.8%

5 Yr Avg Return

0.2%

Net Assets

$208 M

Holdings in Top 10

12.4%

52 WEEK LOW AND HIGH

$9.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.69%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 6.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

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

$9.51

$208 M

0.34%

$0.03

0.69%

SPUBX - Profile

Distributions

  • YTD Total Return 0.4%
  • 3 Yr Annualized Total Return -1.8%
  • 5 Yr Annualized Total Return 0.2%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.27%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Symmetry Panoramic US Fixed Income Fund
  • Fund Family Name
    Symmetry Partners
  • Inception Date
    Nov 12, 2018
  • Shares Outstanding
    26045591
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Philip McDonald

Fund Description

The Fund seeks to achieve its investment objective primarily by implementing a market-based factor approach to fixed income that the Fund’s investment adviser, Symmetry, believes has the potential to produce income and capital appreciation before fees over time. Under normal circumstances, the Fund will invest, directly or indirectly, at least 80% of its net assets in U.S. fixed income securities. The Fund may invest up to 20% of its net assets in foreign issuers.

The Fund generally will invest in U.S. treasury obligations, other U.S. government and agency obligations, bank obligations, corporate bonds, asset-backed securities, mortgage-related and mortgage-backed securities, commercial paper, repurchase agreements, and other debt obligations and cash and cash equivalents. Mortgage-related and mortgage-backed securities may be structured as collateralized mortgage obligations (agency and non-agency), stripped mortgage-backed securities, commercial mortgage-backed securities, mortgage pass-through securities and mortgage TBAs (“to-be-announced”). The Fund may invest in fixed income instruments with fixed or adjustable (floating) rates. The Fund may also invest a portion of its assets in high-yield (lower rated) debt instruments (also known as “below investment grade” or “junk bonds”, which are considered speculative). The Fund

does not seek to maintain any particular weighted average maturity or duration, and may invest in fixed income instruments of any maturity or duration. The Fund may also invest in debt obligations, denominated in U.S. dollars, that are issued by a non U.S. corporation or a U.S. affiliate of a non U.S. corporation or a non U.S. government or its agencies and instrumentalities.

The Trust and the Adviser were granted an exemptive order from the U.S. Securities and Exchange Commission (“SEC”) that permits Symmetry, subject to certain conditions, and without the approval of shareholders, to hire and terminate sub-advisers (“Sub-Advisers”). At this time, J.P. Morgan Investment Management Inc. (“JPMIM”) is the sole sub-adviser to the Fund. The Adviser may add sub-advisers at its discretion. The sub-adviser must operate within the constraints of the Fund’s investment objective, strategies and restrictions.

Currently, JPMIM manages the entirety of the assets in the Fund. JPMIM generally invests in fixed income securities of global issuers, which typically includes, but is not limited to, those securities in the Bloomberg U.S. Aggregate Index. The Bloomberg U.S. Aggregate Index is designed to measure the performance of the investment grade fixed income universe in the U.S. JPMIM may also invest in short maturity high-yield fixed income securities rated BB (or the unrated equivalent) at the time of purchase. JPMIM’s factor-based strategy in corporate fixed income securities combines multiple investment styles, including value, momentum and quality, using an integrated multi-factor approach. In managing the Fund, JPMIM intends to overweight corporate bonds relative to their market value weight in the Bloomberg U.S. Aggregate Index. JPMIM seeks to invest in attractively valued corporate fixed income securities with positive momentum characteristics and of companies with stable business operations and practices. A fixed income security may be considered to be a value investment if it appears inexpensive based on market based measures of value relative to fundamental measures. In assessing momentum, JPMIM generally favors corporate fixed income securities with positive performance relative to other fixed income securities within its investment universe and also considers the equity momentum of the issuer. JPMIM also generally favors the fixed income securities issued by companies exhibiting consistent business health and stability, and may include those with strong profitability and balance sheet debt ratios. These factor characteristics are generally evaluated at the time of purchase, and may change throughout the holding period. JPMIM may add to or modify the economic factors employed in selecting securities. JPMIM may also implement a credit steepener strategy both using cash bonds (i.e., overweighting shorter maturity bonds while simultaneously underweighting longer maturity bonds) and credit default swaps (i.e., selling protection and buying protection) to pursue perceived opportunities.

JPMIM determines the weight of each security in its allocated portion of the Fund using a combination of the liquidity of the security, JPMIM’s assessment of attractiveness of the security based on the factors described above, or using additional criteria that form part of JPMIM’s systematic security selection process. JPMIM utilizes portfolio optimization techniques, which incorporate anticipated transaction costs and turnover, to determine portfolio composition and trading activity.

JPMIM may use a variety of derivative instruments including futures and option contracts, forward contracts for currency hedging, interest rate swaps, and credit default swaps. JPMIM may also enter into short positions in derivatives for hedging purposes or to enhance returns. In addition, JPMIM also may invest in derivatives, including but not limited to futures contracts and options on futures contracts, to adjust market exposure based on actual or expected cash inflows to or outflows from the Fund, or to hedge currency risk.

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SPUBX - Performance

Return Ranking - Trailing

Period SPUBX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.4% -4.5% 5.2% 74.97%
1 Yr 3.2% -7.4% 12.7% 84.68%
3 Yr -1.8%* -10.8% 26.4% 16.65%
5 Yr 0.2%* -7.1% 191.4% 56.49%
10 Yr N/A* -2.5% 73.7% N/A

* Annualized

Return Ranking - Calendar

Period SPUBX Return Category Return Low Category Return High Rank in Category (%)
2023 2.2% -16.2% 8.1% 42.63%
2022 -10.9% -34.7% 131.9% 2.48%
2021 -2.8% -11.6% 4.4% 28.59%
2020 3.7% -10.1% 946.1% 56.74%
2019 3.6% -1.7% 16.9% 87.69%

Total Return Ranking - Trailing

Period SPUBX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.4% -4.5% 5.2% 74.97%
1 Yr 3.2% -7.4% 12.7% 84.68%
3 Yr -1.8%* -10.8% 26.4% 16.65%
5 Yr 0.2%* -7.1% 191.4% 56.49%
10 Yr N/A* -2.5% 73.7% N/A

* Annualized

Total Return Ranking - Calendar

Period SPUBX Return Category Return Low Category Return High Rank in Category (%)
2023 5.1% -11.3% 11.0% 81.21%
2022 -9.4% -32.2% 131.9% 3.51%
2021 -1.6% -9.4% 9.2% 71.41%
2020 5.8% -1.9% 1009.0% 89.30%
2019 6.1% 1.1% 21668.0% 94.66%

NAV & Total Return History


SPUBX - Holdings

Concentration Analysis

SPUBX Category Low Category High SPUBX % Rank
Net Assets 208 M 2.9 M 314 B 79.90%
Number of Holdings 379 1 17816 73.31%
Net Assets in Top 10 24.2 M 1.57 M 34.8 B 89.43%
Weighting of Top 10 12.36% 4.4% 132.5% 87.66%

Top 10 Holdings

  1. FANNIE MAE POOL FN MA4562 2.40%
  2. FANNIE MAE POOL FN MA4804 1.40%
  3. FANNIE MAE POOL FN MA4838 1.36%
  4. US TREASURY N/B 2.750000% 05/31/2029 1.04%
  5. US TREASURY N/B 3.250000% 06/30/2029 1.03%
  6. US TREASURY N/B 2.375000% 05/15/2051 1.03%
  7. FANNIE MAE POOL FN MA4842 1.03%
  8. FANNIE MAE POOL FN MA5105 1.03%
  9. FANNIE MAE POOL FN MA4567 1.03%
  10. FANNIE MAE POOL FN MA4785 1.02%

Asset Allocation

Weighting Return Low Return High SPUBX % Rank
Bonds
99.04% 0.00% 211.59% 27.34%
Convertible Bonds
1.59% 0.00% 7.93% 44.12%
Cash
0.96% -54.51% 87.74% 77.34%
Stocks
0.00% 0.00% 99.99% 84.42%
Preferred Stocks
0.00% 0.00% 74.98% 83.99%
Other
0.00% -16.94% 53.20% 92.95%

Bond Sector Breakdown

Weighting Return Low Return High SPUBX % Rank
Government
58.23% 0.00% 86.23% 1.72%
Corporate
26.86% 0.00% 100.00% 60.95%
Securitized
11.96% 0.00% 98.40% 91.18%
Municipal
0.31% 0.00% 100.00% 55.27%
Cash & Equivalents
0.25% 0.00% 83.04% 80.77%
Derivative
0.00% -9.72% 50.66% 79.46%

Bond Geographic Breakdown

Weighting Return Low Return High SPUBX % Rank
US
99.04% 0.00% 211.59% 24.67%
Non US
0.00% 0.00% 33.48% 85.20%

SPUBX - Expenses

Operational Fees

SPUBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.69% 0.01% 39.10% 51.11%
Management Fee 0.45% 0.00% 1.76% 81.99%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

SPUBX 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% 5.00% N/A

Trading Fees

SPUBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

SPUBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 6.00% 2.00% 493.39% 0.24%

SPUBX - Distributions

Dividend Yield Analysis

SPUBX Category Low Category High SPUBX % Rank
Dividend Yield 0.34% 0.00% 10.11% 69.45%

Dividend Distribution Analysis

SPUBX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

SPUBX Category Low Category High SPUBX % Rank
Net Income Ratio 1.27% -1.28% 4.79% 76.99%

Capital Gain Distribution Analysis

SPUBX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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SPUBX - Fund Manager Analysis

Managers

Philip McDonald


Start Date

Tenure

Tenure Rank

Nov 12, 2018

3.55

3.6%

Philip McDonald is a Portfolio Manager and Managing Director at Symmetry Partners, LLC, and a member of the Investment Committee. Mr. McDonald joined Symmetry Partners in 2010. Mr. McDonald holds a B.S. from Georgetown University and an MBA from the University of Connecticut. He became a CFA® charterholder in 2003, a CIPM certificate holder in 2011 and a CAIA® charterholder in 2012.

Rebecca Cioban


Start Date

Tenure

Tenure Rank

Nov 12, 2018

3.55

3.6%

Rebecca Cioban is Portfolio Manager and Associate Director of Investments at Symmetry Partners, LLC. Ms. Cioban joined Symmetry Partners in 2007. Ms. Cioban holds a B.A. from the University of Connecticut.

John McDermott


Start Date

Tenure

Tenure Rank

Nov 12, 2018

3.55

3.6%

John McDermott is Portfolio Manager, Chief Investment Strategist at Symmetry Partners, LLC, and a member of the Investment Committee. Dr. McDermott began his affiliation with Symmetry Partners in 2005. Dr. McDermott holds a B.S. from the U.S. Coast Guard Academy, an MBA from Columbia University, and a Ph.D. from the University of Connecticut.

Kevin Scully


Start Date

Tenure

Tenure Rank

Dec 31, 2019

2.42

2.4%

Kevin Scully is a Portfolio Manager and Senior Research Associate at Symmetry Partners, LLC. Mr. Scully joined Symmetry Partners in 2015. He holds a B.S. from the University of Connecticut and became a CFA® charterholder in 2017.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.78 1.16