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 11/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
15.4%
1 yr return
29.5%
3 Yr Avg Return
6.0%
5 Yr Avg Return
N/A
Net Assets
$82.2 M
Holdings in Top 10
34.0%
Expense Ratio 1.13%
Front Load N/A
Deferred Load N/A
Turnover 18.00%
Redemption Fee N/A
Standard (Taxable)
$2,500
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 11/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The fund, under normal market conditions, invests at least 80% of its net assets in U.S. equity securities with small market capitalizations that the Adviser believes are undervalued. Equity securities consist of common and preferred stocks. Small cap companies are defined by the fund as companies with market capitalizations in the range of those market capitalizations of companies included in the Russell 2000 Index at the time of purchase. The capitalization range of the Russell 2000 Index is between $17.41 million and $14.51 billion as of September 30, 2023. The size of the companies included in the Russell 2000 Index will change with market conditions.
The Adviser focuses on estimating a company’s value independent of its current stock price. To estimate a company’s value, the Adviser concentrates on the fundamental economic drivers of the business. The primary focus is on “bottom-up” analysis, which takes into consideration earnings, revenue growth, operating margins, balance sheet strength, free cash flow generation, management stewardship, and other economic factors. The Adviser also typically considers the level of industry competition, regulatory factors, the threat of technological obsolescence, and a variety of other industry factors. If the Adviser’s estimate of a company’s value differs sufficiently from the current market price, the company may be an attractive investment opportunity. In constructing a portfolio of securities, the Adviser is not constrained by the sector or industry weights in the benchmark. The Adviser relies on individual stock selection and discipline in the investment process to add value. The highest portfolio security weights are assigned to companies where the Adviser has the highest level of conviction.
Once a stock is selected, the Adviser continues to monitor the company’s strategies, financial performance, and competitive environment. The Adviser may sell a security as it reaches the Adviser’s estimate of the company’s value if it believes that the company’s earnings, revenue growth, operating margin or other economic factors are deteriorating, if the company’s stock price is discounting more than the company’s long range earnings potential, or if it identifies a stock that it believes offers a better investment opportunity.
The fund may sell (write) put options or covered call options to generate additional income or hedge exposure.
Period | VESMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 15.4% | -13.3% | 19.9% | 41.92% |
1 Yr | 29.5% | 3.2% | 36.7% | 84.54% |
3 Yr | 6.0%* | -14.8% | 65.5% | 24.46% |
5 Yr | N/A* | -3.8% | 50.1% | N/A |
10 Yr | N/A* | -3.8% | 27.2% | N/A |
* Annualized
Period | VESMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.5% | -6.0% | 33.6% | 58.08% |
2022 | -6.2% | -36.7% | 212.9% | 4.78% |
2021 | 30.3% | -62.0% | 147.6% | 15.80% |
2020 | N/A | -24.8% | 31.3% | N/A |
2019 | N/A | -21.7% | 34.0% | N/A |
Period | VESMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 15.4% | -13.3% | 19.9% | 41.92% |
1 Yr | 29.5% | 3.2% | 36.7% | 84.54% |
3 Yr | 6.0%* | -14.8% | 65.5% | 24.46% |
5 Yr | N/A* | -3.8% | 50.1% | N/A |
10 Yr | N/A* | -3.8% | 27.2% | N/A |
* Annualized
Period | VESMX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.2% | 1.8% | 35.4% | 82.20% |
2022 | -5.5% | -36.7% | 250.0% | 16.03% |
2021 | 31.6% | -3.0% | 157.9% | 48.15% |
2020 | N/A | -13.5% | 33.4% | N/A |
2019 | N/A | -1.5% | 34.3% | N/A |
VESMX | Category Low | Category High | VESMX % Rank | |
---|---|---|---|---|
Net Assets | 82.2 M | 5.95 M | 54 B | 83.41% |
Number of Holdings | 87 | 10 | 1599 | 67.29% |
Net Assets in Top 10 | 32.7 M | 762 K | 3.2 B | 70.33% |
Weighting of Top 10 | 34.05% | 5.2% | 92.2% | 16.63% |
Weighting | Return Low | Return High | VESMX % Rank | |
---|---|---|---|---|
Stocks | 98.77% | 7.22% | 105.88% | 46.73% |
Cash | 3.12% | 0.00% | 39.68% | 32.94% |
Preferred Stocks | 0.00% | 0.00% | 1.87% | 39.25% |
Convertible Bonds | 0.00% | 0.00% | 2.63% | 36.73% |
Bonds | 0.00% | 0.00% | 79.66% | 38.32% |
Other | -1.83% | -1.83% | 31.19% | 99.77% |
Weighting | Return Low | Return High | VESMX % Rank | |
---|---|---|---|---|
Industrials | 22.36% | 0.65% | 48.61% | 15.55% |
Financial Services | 21.15% | 0.00% | 35.71% | 69.62% |
Energy | 15.36% | 0.00% | 29.42% | 7.18% |
Consumer Cyclical | 8.94% | 0.00% | 51.62% | 77.27% |
Healthcare | 8.85% | 0.00% | 25.76% | 18.18% |
Consumer Defense | 8.00% | 0.00% | 13.22% | 8.37% |
Basic Materials | 7.39% | 0.00% | 67.30% | 15.31% |
Utilities | 3.29% | 0.00% | 13.86% | 35.17% |
Technology | 2.85% | 0.00% | 34.03% | 96.17% |
Communication Services | 1.79% | 0.00% | 24.90% | 65.07% |
Real Estate | 0.00% | 0.00% | 44.41% | 96.41% |
Weighting | Return Low | Return High | VESMX % Rank | |
---|---|---|---|---|
US | 96.13% | 7.22% | 105.88% | 73.13% |
Non US | 2.64% | 0.00% | 76.17% | 13.79% |
VESMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.13% | 0.05% | 37.04% | 54.67% |
Management Fee | 0.75% | 0.00% | 1.50% | 39.34% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 9.43% |
Administrative Fee | N/A | 0.01% | 0.35% | N/A |
VESMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
VESMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.50% | 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.
VESMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 18.00% | 7.00% | 252.00% | 6.18% |
VESMX | Category Low | Category High | VESMX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.60% | 0.00% | 14.14% | 78.04% |
VESMX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
VESMX | Category Low | Category High | VESMX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.21% | -1.43% | 4.13% | 65.31% |
VESMX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 21, 2023 | $0.115 | OrdinaryDividend |
Dec 22, 2022 | $0.108 | OrdinaryDividend |
Dec 22, 2021 | $0.027 | OrdinaryDividend |
Dec 22, 2021 | $0.007 | CapitalGainShortTerm |
Dec 22, 2021 | $0.129 | CapitalGainLongTerm |
Dec 22, 2020 | $0.008 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Sep 30, 2020
1.67
1.7%
Ms. Hubbard is a Research Analyst and Co-Portfolio Manager of the Small Cap Strategy. Ms. Hubbard joined VELA Investment Management, LLC in 2020. Prior to joining the firm, Ms. Hubbard served as a Research Analyst and Assistant Portfolio Manager of the Small-Mid Cap and Mid Cap Strategies at Diamond Hill Capital Management, having joined the firm in 2007. Ms. Hubbard has industry experience since 1996, including positions with ABN/AMRO LaSalle Bank and Avondale Partners. Ms. Hubbard holds the Chartered Financial Analyst (CFA) designation, a M.A. in International Economic Development Policy from Stanford University, and a B.A. in English from the University of Colorado.
Start Date
Tenure
Tenure Rank
Sep 30, 2020
1.67
1.7%
Mr. Dillon is one of the founders of VELA Investment Management, LLC and has served as CEO, CIO & Co-Portfolio Manager of the firm since November 2019. Early in his career, Mr. Dillon was a Portfolio Manager at Loomis, Sayles & Company. In the 1990s, Mr. Dillon founded Dillon Capital Management, where he served as President and Chief Investment Officer until the company was acquired by Loomis, Sayles & Company, where he returned to work as a Portfolio Manager until 2000. In May 2000, Mr. Dillon founded Diamond Hill Capital Management, where he served as CEO and Portfolio Manager on their Small Cap and Long-Short Strategies. Mr. Dillon retired from Diamond Hill Capital Management in 2018. Mr. Dillon holds the Chartered Financial Analyst (CFA) designation. He received an MBA from the University of Dayton, as well as a M.A. in Finance and a B.S. in Business Administration from The Ohio State University.
Start Date
Tenure
Tenure Rank
May 28, 2021
1.01
1.0%
Mr. Hilderbrand is a Research Analyst and Co-Portfolio Manager of the Small Cap Strategy. Mr. Hilderbrand joined the Adviser in 2021. Prior to joining the Adviser, he was a Research Analyst at Diamond Hill Capital Management, covering restaurants, recreation, and managed care. Mr. Hilderbrand has industry experience since 2005, including Investment Analyst roles at Homrich Berg and LCG Associates. Mr. Hilderbrand holds the Chartered Financial Analyst (CFA) designation, an MBA from London Business School, and a B.B.A. in Finance from University of Georgia (magna cum laude).
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 37.45 | 8.25 | 3.58 |
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