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Trending ETFs

Westwood Multi-Asset Income Fund

mutual fund
WSDAX
Payout Change
Pending
Price as of:
$10.17 -0.03 -0.29%
primary theme
High Yield Bond
WSDAX (Mutual Fund)

Westwood Multi-Asset Income Fund

Payout Change
Pending
Price as of:
$10.17 -0.03 -0.29%
primary theme
High Yield Bond
WSDAX (Mutual Fund)

Westwood Multi-Asset Income Fund

Payout Change
Pending
Price as of:
$10.17 -0.03 -0.29%
primary theme
High Yield Bond

Name

As of 12/12/2024

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

$10.17

$96.8 M

5.47%

$0.56

1.02%

Vitals

YTD Return

11.1%

1 yr return

13.3%

3 Yr Avg Return

3.3%

5 Yr Avg Return

6.2%

Net Assets

$96.8 M

Holdings in Top 10

14.9%

52 WEEK LOW AND HIGH

$10.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.02%

SALES FEES

Front Load 3.00%

Deferred Load N/A

TRADING FEES

Turnover 67.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/12/2024

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

$10.17

$96.8 M

5.47%

$0.56

1.02%

WSDAX - Profile

Distributions

  • YTD Total Return 11.1%
  • 3 Yr Annualized Total Return 3.3%
  • 5 Yr Annualized Total Return 6.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.05%
DIVIDENDS
  • Dividend Yield 5.5%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Westwood Multi-Asset Income Fund
  • Fund Family Name
    Westwood
  • Inception Date
    Jun 28, 2013
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    P. Adrian Helfert

Fund Description

The Fund has flexibility to achieve its investment objective and invests in a broad range of income-producing securities, including debt and equity securities in the U.S. and other markets throughout the world, both developed and emerging. “Emerging markets” include countries in the MSCI Emerging Markets Index, and other countries that the Fund considers to be equivalent to those in that index based on their level of economic development or the size and experience of their securities markets. There is no limit on the number of countries in which the Fund may invest, and the Fund may focus its investments in a single country or a small group of countries. As attractive investments across asset classes and strategies arise, the Adviser attempts to capture these opportunities and has latitude to allocate the Fund’s assets among asset classes. The Adviser buys and sells securities and investments for the Fund based on the Adviser’s view of issuer fundamentals, global economics, sectors and overall portfolio construction, taking into account risk/return analyses and relative value considerations.

Under normal circumstances, the Fund invests at least 80% of its net assets in securities of U.S. issuers. U.S. issuers include the U.S. government and its agencies and instrumentalities. In addition, a company is considered by the Fund to be a U.S. issuer if: (i) at least 50% of the company’s assets are located in the U.S.; (ii) at least 50% of the company’s revenue is generated in the U.S.; (iii) the company is organized or maintains its principal place of business in the U.S.; or (iv) the company’s securities are traded principally in the U.S.

The Fund seeks to achieve a neutral allocation of 80% of its total assets in debt securities and 20% of its total assets in equity securities. The Adviser’s bottom-up investment process and top-down macroeconomic views will drive tactical allocation decisions by overweighting/underweighting stocks and bonds to outperform the benchmark.

The Fund may invest up to 100% of its total assets in debt securities, including corporate bonds, mortgage-backed, mortgage-related and asset-backed securities (including collateralized mortgage obligations), inflation-linked securities (including Treasury Inflation Protected Securities (“TIPS”)), bank loan assignments and participations (“Loans”). The Fund may invest up to 35% of its total assets in Loans. The Fund may invest in debt securities with any maturity, duration or credit quality, including securities rated below investment grade or, if unrated, deemed by the Adviser to be of comparable quality (“junk bonds”). The Fund currently expects to invest no more than 70% of its total assets in junk bonds.

The Fund may purchase or sell mortgage-backed securities on a delayed delivery or forward commitment basis through the “to-be-announced” (“TBA”) market. With TBA transactions, the particular securities to be delivered are not identified at the trade date but the delivered securities must meet specified terms and standards. The Fund would generally enter into TBA transactions with the intention of taking possession of the underlying mortgage-backed securities. However, in an effort to obtain underlying mortgage securities on more preferable terms or to enhance returns, the Fund may extend the settlement by entering into dollar roll transactions in which the Fund sells mortgage-backed securities and simultaneously agrees to purchase substantially similar securities on a future date.

The Fund may invest up to 30% of its total assets in equity securities, including common stocks, American Depositary Receipts (“ADRs”) and real estate investment trusts (“REITs”). The Fund may invest up to 25% of its total assets in REITs. In addition to investments in equity securities, the Fund may also invest up to 50% of its total assets in preferred stocks and convertible securities that have characteristics of both equity and debt securities. The Fund may invest in equity securities, preferred stocks and convertible securities of companies of any market capitalization.

In addition to direct investments in securities, derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund may use futures contracts, foreign currency transactions, options and swaps to help manage duration, sector and yield curve exposure and credit and spread volatility. The Fund may also use such derivatives to manage equity, country, regional and currency exposure, to increase income or gain to

the Fund, for hedging and for risk management. The Fund may hedge its non-dollar investments back to the U.S. dollar through the use of foreign currency derivatives, including forward foreign currency contracts and currency futures, but may not always do so. In addition to hedging non-dollar investments, the Fund may use such derivatives to increase income and gain to the Fund and/or as part of its risk management process by establishing or adjusting exposure to particular foreign securities, markets or currencies.

As a result of the Fund’s investment style, the Fund, from time to time, will engage in frequent trading.

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WSDAX - Performance

Return Ranking - Trailing

Period WSDAX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.1% -7.5% 17.7% 4.27%
1 Yr 13.3% -4.7% 18.4% 2.63%
3 Yr 3.3%* -14.4% 21.6% 36.50%
5 Yr 6.2%* -11.4% 37.2% 4.98%
10 Yr 5.0%* -4.7% 20.4% 15.64%

* Annualized

Return Ranking - Calendar

Period WSDAX Return Category Return Low Category Return High Rank in Category (%)
2023 5.6% -4.7% 14.3% 40.98%
2022 -15.1% -33.4% 3.6% 42.55%
2021 3.7% -8.4% 8.2% 6.70%
2020 10.4% -13.2% 302.7% 1.42%
2019 5.0% -4.4% 13.3% 83.61%

Total Return Ranking - Trailing

Period WSDAX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.1% -7.5% 17.7% 4.27%
1 Yr 13.3% -4.7% 18.4% 2.63%
3 Yr 3.3%* -14.4% 21.6% 36.50%
5 Yr 6.2%* -11.4% 37.2% 4.98%
10 Yr 5.0%* -4.7% 20.4% 15.64%

* Annualized

Total Return Ranking - Calendar

Period WSDAX Return Category Return Low Category Return High Rank in Category (%)
2023 11.2% -4.7% 18.7% 71.15%
2022 -11.4% -33.4% 47.8% 66.06%
2021 6.7% -8.4% 12.4% 17.87%
2020 14.6% -9.6% 325.6% 1.59%
2019 9.4% -3.8% 19.4% 89.07%

NAV & Total Return History


WSDAX - Holdings

Concentration Analysis

WSDAX Category Low Category High WSDAX % Rank
Net Assets 96.8 M 3.13 M 25.3 B 84.80%
Number of Holdings 126 2 4432 90.64%
Net Assets in Top 10 14.3 M -492 M 6.67 B 87.85%
Weighting of Top 10 14.90% 4.2% 146.0% 40.89%

Top 10 Holdings

  1. UNITED STATES TREAS BDS 4.25% 02/15/54 2.14%
  2. United States Treasury Note/Bond 4.750%, Due 11/15/53 1.99%
  3. Service Properties Trust 8.875%, Due 06/15/32 1.49%
  4. JPMorgan Nasdaq Equity Premium Income ETF 1.47%
  5. Goldman Sachs Group, Inc. (The) 1.45%
  6. Summit Midstream Holdings, LLC 9.00%Due 10/15/2026 1.34%
  7. Walmart, Inc. 1.34%
  8. Owl Rock Capital Corporation Senior Note 3.4%, Due 07/15/2026 1.24%
  9. Apple, Inc. 1.24%
  10. Avation Capital SA 8.250%, Due 10/31/26 1.20%

Asset Allocation

Weighting Return Low Return High WSDAX % Rank
Bonds
67.27% 0.00% 145.36% 94.44%
Stocks
30.05% 0.00% 97.54% 1.47%
Convertible Bonds
5.38% 0.00% 17.89% 5.09%
Cash
1.80% -52.00% 48.02% 80.13%
Preferred Stocks
0.88% 0.00% 4.97% 8.87%
Other
0.00% -39.08% 99.23% 62.56%

Stock Sector Breakdown

Weighting Return Low Return High WSDAX % Rank
Financial Services
18.94% 0.00% 100.00% 13.95%
Technology
13.47% 0.00% 33.17% 6.23%
Energy
12.02% 0.00% 100.00% 56.97%
Healthcare
11.18% 0.00% 22.17% 4.15%
Real Estate
8.63% 0.00% 86.71% 14.24%
Consumer Cyclical
7.88% 0.00% 100.00% 19.29%
Consumer Defense
7.81% 0.00% 100.00% 13.06%
Basic Materials
7.52% 0.00% 100.00% 18.99%
Communication Services
6.97% 0.00% 99.99% 38.58%
Industrials
3.50% 0.00% 93.12% 18.40%
Utilities
2.08% 0.00% 100.00% 24.33%

Stock Geographic Breakdown

Weighting Return Low Return High WSDAX % Rank
US
30.05% 0.00% 97.54% 1.48%
Non US
0.00% -0.01% 0.83% 45.98%

Bond Sector Breakdown

Weighting Return Low Return High WSDAX % Rank
Corporate
96.35% 0.00% 100.00% 36.84%
Government
1.44% 0.00% 99.07% 13.82%
Securitized
0.70% 0.00% 97.24% 26.64%
Derivative
0.00% -14.58% 42.26% 51.72%
Cash & Equivalents
0.00% 0.00% 48.02% 93.92%
Municipal
0.00% 0.00% 1.17% 35.36%

Bond Geographic Breakdown

Weighting Return Low Return High WSDAX % Rank
US
67.27% 0.00% 126.57% 90.80%
Non US
0.00% 0.00% 96.91% 59.93%

WSDAX - Expenses

Operational Fees

WSDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.02% 0.02% 38.33% 45.41%
Management Fee 0.59% 0.00% 1.75% 59.41%
12b-1 Fee 0.25% 0.00% 1.00% 29.57%
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

WSDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 3.00% 2.25% 5.75% 88.30%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

WSDAX 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.

WSDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 67.00% 1.00% 255.00% 57.45%

WSDAX - Distributions

Dividend Yield Analysis

WSDAX Category Low Category High WSDAX % Rank
Dividend Yield 5.47% 0.00% 11.76% 80.59%

Dividend Distribution Analysis

WSDAX Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Monthly Monthly

Net Income Ratio Analysis

WSDAX Category Low Category High WSDAX % Rank
Net Income Ratio 3.05% -2.39% 9.30% 92.98%

Capital Gain Distribution Analysis

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

Distributions History

View More +

WSDAX - Fund Manager Analysis

Managers

P. Adrian Helfert


Start Date

Tenure

Tenure Rank

Aug 31, 2019

2.75

2.8%

Adrian Helfert, Senior Vice President is Chief Investment Officer, Multi-Asset Portfolios at Westwood. Having originally joined Westwood in 2019, Mr. Helfert oversees multiple strategies with portfolio management and leadership responsibilities across the Multi-Asset continuum, including our flagship, Income Opportunity. Throughout his career, Mr. Helfert has developed a strong track record working on collaborative, global teams. Prior Westwood, Mr. Helfert served as Managing Director and Senior Multi-Asset Portfolio Manager at Amundi Smith Breeden in London, where he was responsible for Global Fixed Income strategies. During his 13-year Amundi tenure, he also was an investment team leader on absolute return, unconstrained and total return portfolios across multiple asset classes including equity and fixed income across multiple asset classes including equity and fixed income. Before joining Amundi, Mr. Helfert worked at Royal Bank of Scotland and JPMorgan's Asset Management Group. Mr. Helfert earned his MBA from Duke University and his BA in physics from the University of Virginia, where he was awarded a fellowship for his work in Solid State Physics. He also served in the U.S. Navy / Marine Corps as a Combat Medic.

Hussein Adatia


Start Date

Tenure

Tenure Rank

Dec 22, 2020

1.44

1.4%

Mr. Adatia joined Westwood in 2018 and serves as a Research Analyst and Portfolio Manager on the firm’s Flexible Income team where he is responsible for a portfolio of high-yield debt and income-oriented investments. Before joining Westwood, Mr. Adatia worked at Oaklawn Investments as a Managing Director and was responsible for researching, identifying and investing in a variety of credit products including bank loans, bonds and asset-backed securities. Prior to that, he worked for Archview Investment Group as a Senior Investment Analyst on the distressed credit team. Mr. Adatia began his career as an Investment Banking Analyst at Citigroup in the Global Communications Group and subsequently joined Citi’s Global Special Situations Group where he focused on public market debt and equity investments. Mr. Adatia earned his Bachelor of Science in Finance from New York University’s Stern School of Business. In addition, Mr. Adatia has served as an Adjunct Instructor at Columbia University in New York City.

Scott Barnard


Start Date

Tenure

Tenure Rank

Dec 22, 2020

1.44

1.4%

Mr. Barnard joined Westwood in 2020 and serves as a Fixed Income Portfolio Manager. Mr. Barnard manages a wide variety of investment mandates with a focus on corporate credit, municipal, U.S. Treasury and U.S. Agency bonds for Institutional and Private Wealth clients. Prior to joining Westwood, Mr. Barnard was an Associate Portfolio Manager at Amundi Pioneer in Boston. Mr. Barnard helped design, launch and manage numerous customized investment solutions for both institutional and retail clients during his time at Amundi Pioneer. During his 14-year tenure, he also co-created a risk management solution that was utilized across the entire firm for all fixed income portfolios. Mr. Barnard is a CFA charterholder and graduated with a BS in Finance from the University of Colorado at Boulder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.31 8.17