Dividend Investing Ideas Center
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
2.7%
1 yr return
8.3%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$40.6 M
Holdings in Top 10
9.7%
Expense Ratio 0.67%
Front Load N/A
Deferred Load N/A
Turnover 26.00%
Redemption Fee N/A
Standard (Taxable)
$2,500
IRA
$1,000
Fund Type
Open End Mutual Fund
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
To pursue its investment objective, the Fund will invest, under normal circumstances, at least 80% of its net assets plus borrowings for investment purposes in a diversified portfolio of corporate debt securities, including corporate bonds, notes and debentures. The Fund may invest in (i) bonds issued or guaranteed by the U.S. government or its agencies and instrumentalities; (ii) preferred stock; (iii) debt securities that are sold in private placement transactions between their issuers and their purchasers and that are neither listed on an exchange or traded over the counter; and (iv) Yankee bonds, which are U.S.-dollar denominated bonds and notes issued by foreign corporations or governments. The Fund may invest up to 10% of its total assets in bonds that are below investment grade, which are commonly referred to as “high yield” or “junk” bonds. The Fund may invest up to 20% of its total assets in securities denominated in foreign currencies. The remainder of the Fund’s corporate debt securities will typically be denominated in U.S. dollars and be investment grade (i.e., rated at the time of purchase in one of the four highest rating categories by a nationally recognized statistical rating organization, or determined by the portfolio manager to be of comparable quality).
In managing the portfolio, the portfolio manager uses a “top down” investment management approach focusing on interest rate risk, allocation among sectors, credit risk, and individual securities selection. The portfolio manager focuses on macro trends in the economy to establish a duration target that reflects the outlook for the future direction of interest rates. For yield curve management, in addition to the trend in interest rates, other factors such as future inflation expectations, supply factors, and future interest rate expectations are considered. Sector weightings are driven by a combination of the portfolio manager’s macro view on interest rates and volatility as well as relative spread analysis (a comparison of current and historical valuation relationships between various sectors). Utilizing fundamental analysis the portfolio manager then selects individual securities consistent with the target by looking for the best relative values within particular sectors. The analysis includes an attempt to understand the structure and embedded features of potential securities. Features that are analyzed include puts, calls, sinking fund requirements (scheduled early retirements of the specific debt instrument), prepayment and extension risk, and individual company financial data for potential corporate holdings. Scenario analysis is the primary tool employed for these assessments. The Fund’s average duration is expected to be between 10 and 20 years.
The portfolio manager may consider selling a security owned by the Fund to reduce exposure to a particular sector, if the portfolio manager sees a deterioration in the underlying fundamentals of an issuer or if the actions of the issuer violate the investment thesis of owning the security (or, in another words, the original reasoning for purchasing the security), when the portfolio managers finds other attractive securities that the portfolio manager believes are less expensive and offer relatively greater income or growth potential, and in response to macro level adjustments to duration and yield curve contributions (which are changes made to portfolio duration or yield curve positioning due to changes in the portfolio manager’s macroeconomic outlook). The portfolio manager may consider environmental, social and governance (“ESG”) factors as part of the investment process for selecting corporate debt securities and securitized obligations (including asset-backed securities, commercial mortgage-backed securities and collateralized mortgage obligations).
The Fund may invest in certain types of derivative instruments for hedging and investment purposes. Although the Fund may invest in derivatives of any kind, the Fund currently expects to invest in futures contracts and forward foreign currency contracts to gain efficient investment exposures as an alternative to cash investments or to hedge against portfolio exposures, and credit default swaps and interest rate swaps to gain indirect exposure to interest rates, issuers, currencies, or market sectors, or to hedge against portfolio exposures.
Period | STRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.7% | 1.9% | 53.3% | 99.91% |
1 Yr | 8.3% | 4.7% | 71.4% | 99.64% |
3 Yr | N/A* | -22.4% | 26.5% | N/A |
5 Yr | N/A* | -13.3% | 30.0% | N/A |
10 Yr | N/A* | -4.8% | 20.4% | 99.88% |
* Annualized
Period | STRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -74.1% | 72.4% | N/A |
2022 | N/A | -85.9% | 4.7% | N/A |
2021 | N/A | -52.4% | 60.5% | N/A |
2020 | N/A | -34.3% | 145.0% | N/A |
2019 | N/A | -6.9% | 49.4% | N/A |
Period | STRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.7% | 1.9% | 53.3% | 99.91% |
1 Yr | 8.3% | 4.7% | 71.4% | 99.64% |
3 Yr | N/A* | -22.4% | 26.5% | N/A |
5 Yr | N/A* | -13.3% | 30.0% | N/A |
10 Yr | N/A* | -4.8% | 20.4% | 99.88% |
* Annualized
Period | STRFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -4.6% | 72.4% | N/A |
2022 | N/A | -61.7% | 5.6% | N/A |
2021 | N/A | -39.8% | 118.1% | N/A |
2020 | N/A | 2.8% | 149.2% | N/A |
2019 | N/A | -5.2% | 49.4% | N/A |
STRFX | Category Low | Category High | STRFX % Rank | |
---|---|---|---|---|
Net Assets | 40.6 M | 296 K | 287 B | 94.11% |
Number of Holdings | 378 | 2 | 3061 | 4.26% |
Net Assets in Top 10 | 4.14 M | 126 K | 150 B | 98.64% |
Weighting of Top 10 | 9.68% | 0.7% | 205.0% | 99.64% |
Weighting | Return Low | Return High | STRFX % Rank | |
---|---|---|---|---|
Bonds | 97.08% | 0.00% | 102.71% | 0.18% |
Cash | 2.57% | 0.00% | 173.52% | 16.24% |
Other | 0.36% | -36.56% | 50.35% | 11.80% |
Stocks | 0.00% | 0.00% | 123.52% | 100.00% |
Preferred Stocks | 0.00% | 0.00% | 8.45% | 92.20% |
Convertible Bonds | 0.00% | 0.00% | 1.94% | 92.00% |
Weighting | Return Low | Return High | STRFX % Rank | |
---|---|---|---|---|
Cash & Equivalents | 1.95% | 0.00% | 173.52% | 23.59% |
Derivative | 0.00% | -37.20% | 15.33% | 88.38% |
Securitized | 0.00% | 0.00% | 43.70% | 91.71% |
Corporate | 0.00% | 0.00% | 100.00% | 91.90% |
Municipal | 0.00% | 0.00% | 0.57% | 91.71% |
Government | 0.00% | 0.00% | 12.45% | 92.00% |
Weighting | Return Low | Return High | STRFX % Rank | |
---|---|---|---|---|
US | 97.08% | 0.00% | 102.71% | 0.18% |
Non US | 0.00% | 0.00% | 0.00% | 91.74% |
STRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.67% | 0.01% | 28.71% | 76.14% |
Management Fee | 0.25% | 0.00% | 1.50% | 6.22% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 17.64% |
Administrative Fee | 0.37% | 0.01% | 1.02% | 96.80% |
STRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 8.50% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
STRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
STRFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 26.00% | 0.00% | 316.74% | 38.23% |
STRFX | Category Low | Category High | STRFX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.91% | 0.00% | 27.58% | 11.63% |
STRFX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annual | SemiAnnual | Annual |
STRFX | Category Low | Category High | STRFX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.08% | -6.13% | 3.48% | 32.00% |
STRFX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Oct 31, 2024 | $0.029 | OrdinaryDividend |
Sep 30, 2024 | $0.028 | OrdinaryDividend |
Aug 30, 2024 | $0.029 | OrdinaryDividend |
Jul 31, 2024 | $0.028 | OrdinaryDividend |
Mar 28, 2024 | $0.028 | OrdinaryDividend |
Feb 29, 2024 | $0.026 | OrdinaryDividend |
Jan 31, 2024 | $0.027 | OrdinaryDividend |
Dec 29, 2023 | $0.027 | OrdinaryDividend |
Nov 30, 2023 | $0.027 | OrdinaryDividend |
Oct 31, 2023 | $0.027 | OrdinaryDividend |
Sep 29, 2023 | $0.026 | OrdinaryDividend |
Aug 31, 2023 | $0.027 | OrdinaryDividend |
Jul 31, 2023 | $0.027 | OrdinaryDividend |
Jun 30, 2023 | $0.026 | OrdinaryDividend |
May 31, 2023 | $0.027 | OrdinaryDividend |
Apr 28, 2023 | $0.025 | OrdinaryDividend |
Mar 31, 2023 | $0.026 | OrdinaryDividend |
Feb 28, 2023 | $0.024 | OrdinaryDividend |
Jan 31, 2023 | $0.026 | OrdinaryDividend |
Dec 29, 2022 | $0.026 | OrdinaryDividend |
Nov 29, 2022 | $0.025 | OrdinaryDividend |
Oct 28, 2022 | $0.026 | OrdinaryDividend |
Sep 29, 2022 | $0.025 | OrdinaryDividend |
Aug 30, 2022 | $0.025 | OrdinaryDividend |
Jul 28, 2022 | $0.025 | OrdinaryDividend |
Jun 29, 2022 | $0.024 | OrdinaryDividend |
May 27, 2022 | $0.025 | OrdinaryDividend |
Apr 28, 2022 | $0.024 | OrdinaryDividend |
Mar 30, 2022 | $0.025 | OrdinaryDividend |
Feb 25, 2022 | $0.022 | OrdinaryDividend |
Jan 28, 2022 | $0.000 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Apr 25, 2008
7.44
7.4%
Joseph Eberhardy is a senior portfolio manager for the Heritage Growth Equity team at Wells Capital Management. Joe joined Wells Capital Management from Strong Capital Management, having joined Strong in 1994. Prior to his current role, he was a senior research analyst with the Heritage Growth Equity team. Before joining the Heritage Growth Equity team in 2000, his previous roles at Strong Capital Management included small to mid cap equity analyst, high yield bond trader and fixed income accounting manager. Joe earned a bachelor's degree in accounting from the University of Wisconsin, Milwaukee. He is a Certified Public Accountant and has earned the right to use the CFA designation.
Start Date
Tenure
Tenure Rank
Jan 01, 2005
10.75
10.8%
Thomas Ognar is a managing director and senior portfolio manager for the Heritage Growth Equity team at Wells Capital Management. Tom has oversight and portfolio management responsibility for the team’s Small Capitalization, All Capitalization and Large Capitalization Growth portfolios. He joined Wells Capital Management with the acquisition of assets from Strong Capital Management. Tom entered the investment industry in 1993 and joined Strong in 1998 as a research analyst. Prior to Strong, he was a research analyst with M&I Investment Management, Inc. and a trader with Republic Securities, Inc. Tom earned a bachelor’s degree in finance from Miami University. He earned a master’s degree in finance from the University of Wisconsin, Madison, and is an alumnus of the Applied Security Analysis Program. Tom has earned the right to use the CFA designation.
Start Date
Tenure
Tenure Rank
May 01, 2002
13.42
13.4%
Bruce Olson is a managing director and senior portfolio manager for the Heritage Growth Equity team at Wells Capital Management. He joined Wells Capital Management from Strong Capital Management where he held a similar position. Bruce entered the investment industry in 1982 and prior to joining Strong in 1994, he served as a managing partner of a private holding company. Previously, he was employed with Minton Investment Corporation, American National Bank and Trust of Chicago, and the Travelers Corporation. Bruce earned a bachelor’s degree from Gustavus Adolphus College. He has earned the right to use the CFA designation.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 54.45 | 8.25 | 3.08 |
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