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Trending ETFs

YCG Enhanced Fund

mutual fund
YCGEX
Payout Change
Pending
Price as of:
$33.53 -0.06 -0.18%
primary theme
U.S. Large-Cap Blend Equity
share class
R (YCGEX)
YCGEX (Mutual Fund)

YCG Enhanced Fund

Payout Change
Pending
Price as of:
$33.53 -0.06 -0.18%
primary theme
U.S. Large-Cap Blend Equity
share class
R (YCGEX)
YCGEX (Mutual Fund)

YCG Enhanced Fund

Payout Change
Pending
Price as of:
$33.53 -0.06 -0.18%
primary theme
U.S. Large-Cap Blend Equity
share class
R (YCGEX)

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

YCG Enhanced Fund

YCGEX | Fund

$33.53

$594 M

1.68%

$0.56

1.19%

Vitals

YTD Return

16.3%

1 yr return

15.9%

3 Yr Avg Return

5.7%

5 Yr Avg Return

12.1%

Net Assets

$594 M

Holdings in Top 10

47.7%

52 WEEK LOW AND HIGH

$33.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.19%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 18.00%

Redemption Fee 2.00%

Min Investment

Standard (Taxable)

$2,500

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

YCG Enhanced Fund

YCGEX | Fund

$33.53

$594 M

1.68%

$0.56

1.19%

YCGEX - Profile

Distributions

  • YTD Total Return 16.3%
  • 3 Yr Annualized Total Return 5.7%
  • 5 Yr Annualized Total Return 12.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.34%
DIVIDENDS
  • Dividend Yield 1.7%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    YCG Enhanced Fund
  • Fund Family Name
    YCG FUNDS
  • Inception Date
    Dec 28, 2012
  • Shares Outstanding
    18823731
  • Share Class
    R
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Brian Yacktman

Fund Description

The Fund invests primarily in equity securities without regard to market capitalization that the Adviser believes will produce high, risk-adjusted, forward rates of return (i.e., the long-term annualized return that the Adviser believes a given security can achieve when purchased at the current market price). The Adviser believes the key is to invest in businesses that can compound capital at high rates of return for long periods of time. Businesses with this capability are extremely rare because competition and innovation drive down real pricing to the cost of capital, leaving little excess returns for investors. Therefore, the Adviser pays particular attention to identifying businesses with enduring pricing power, which the Adviser views as the single most important characteristic on which to focus.
The Adviser utilizes a proprietary framework to identify these rare businesses, which tend to possess the following characteristics:
Global Champions
•Deeply entrenched in the economic system
•Globally-networked brand or service
•Geographically-diverse revenue streams
•High market share
Enduring Pricing Power
•Ability to charge a large premium for products or services that are virtually identical to those of their competitors and maintain or grow that premium for decades while maintaining volume growth
•Capability to overcome deflationary pricing that comes as a result of competition and innovation
•Prefer global network economics where the value scales exponentially as the network grows
•More immune to disruption due to slow changing industry and/or difficult to replicate competitive advantages
Long-Term Volume Growth Opportunities
•Long runway of reinvestment at high rates of return
•Benefits from the growth in the global middle and upper classes
•Benefits from urbanization
•Pricing power combined with volume growth means they will be indexed to GDP growth or better
Ownership-Minded Management Team
•High family, founder, or other insider ownership
•History of treating minority owners fairly
•History of wise capital allocation decisions
•Proven track record of ignoring short-term Wall Street pressures
•Focus on aligning employee incentives with owners (principal-agent problem)
Conservatively Capitalized
•Can survive or even thrive in a deep recession
•Possess financial flexibility to fend off new and existing competitors
•Prefer businesses with high returns on tangible assets (thus not requiring leverage)
The Adviser then strives to construct a portfolio of these sustainably high returning businesses that the Adviser believes is both attractively priced and diversified across multiple dimensions including macroeconomic sensitivity, product category, and geography. The Adviser hopes to benefit from the superior economics of these businesses for many years to come.
Portfolio Construction
The Adviser believes that holding a relatively small number of stocks allows its “best ideas” to have a meaningful impact on the Fund’s performance. Therefore, the Fund is non-diversified and will hold fewer stocks than the typical stock mutual fund. The Adviser may invest more in its top choices than in investments it thinks are less attractive. At times, depending on market and other conditions, and in the sole discretion of the Adviser, the Fund may invest a substantial portion of its assets in a small number of issuers, business sectors or industries. Generally, the Fund will hold between 15 to 50 securities, not including options.
The Adviser may buy companies of any size market capitalization. If all else is equal, it prefers larger companies to smaller companies with regards to market capitalization.
The Adviser seeks to enhance the Fund's returns primarily through the sale of cash secured puts and covered calls. Thus, the Fund may write options on a portion of the Fund’s long equity portfolio as a means to generate additional income and to tax-efficiently enter and exit positions. The Fund will not use this strategy as a means of generating implicit leverage. In other words, if all put options were to be exercised, the Fund will generally have enough cash on hand to purchase the assigned shares. While the Adviser seeks to augment returns primarily through the sale of puts and covered calls, this “option enhancement” component may involve additional options strategies.
The Fund may invest up to 50% of its assets in foreign equity securities, including securities of companies located in emerging markets. The Adviser defines foreign equity securities as equity securities of issuers listed on non-U.S. exchanges. This 50% limit does not apply to investments in the form of American Depositary Receipts (“ADRs”) or any security of a foreign company that is listed and trades on a U.S. exchange. The Fund may, from time to time, have significant exposure to one or more sectors of the market. As of November 30, 2023, 30% of the Fund’s net assets were invested in securities of issuers within the financial services sector.
The Fund’s investments in debt securities may include U.S. Treasury notes and bonds, investment grade corporate debt securities, convertible debt securities, debt securities below investment grade (high yield or junk bonds), and foreign debt securities. The Fund may invest up to 20% of its assets in such debt securities, all of which may be in “junk” bonds, i.e., debt securities that are not investment grade securities. These types of bonds carry greater risk.
The Adviser generally sells securities of companies when the expected rate of return becomes inadequate, or if it believes there are better investment opportunities available, or if the securities no longer meet its investment criteria. The Adviser may write call options on specific stocks to exit a position or decrease its size. The Adviser will only write call options if it is willing to sell the stock at the exercise price.
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YCGEX - Performance

Return Ranking - Trailing

Period YCGEX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.3% 4.3% 46.2% 85.69%
1 Yr 15.9% 5.8% 61.3% 89.16%
3 Yr 5.7%* -11.0% 19.2% 86.22%
5 Yr 12.1%* -7.6% 110.6% 71.26%
10 Yr 12.7%* -0.1% 52.9% 36.06%

* Annualized

Return Ranking - Calendar

Period YCGEX Return Category Return Low Category Return High Rank in Category (%)
2023 27.6% -42.6% 47.4% 4.88%
2022 -22.4% -56.3% -4.2% 60.70%
2021 16.1% -27.2% 537.8% 56.35%
2020 17.3% -22.5% 2181.7% 21.77%
2019 40.4% -13.5% 40.4% 0.09%

Total Return Ranking - Trailing

Period YCGEX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.3% 4.3% 46.2% 85.69%
1 Yr 15.9% 5.8% 61.3% 89.16%
3 Yr 5.7%* -11.0% 19.2% 86.22%
5 Yr 12.1%* -7.6% 110.6% 71.26%
10 Yr 12.7%* -0.1% 52.9% 36.06%

* Annualized

Total Return Ranking - Calendar

Period YCGEX Return Category Return Low Category Return High Rank in Category (%)
2023 30.2% -5.0% 47.4% 5.87%
2022 -22.4% -36.8% -2.2% 93.42%
2021 27.1% 3.0% 537.8% 45.09%
2020 17.3% -15.8% 2266.0% 50.83%
2019 41.2% -0.4% 241.3% 0.55%

NAV & Total Return History

YCGEX - Holdings

Concentration Analysis

YCGEX Category Low Category High YCGEX % Rank
Net Assets 594 M 2.34 M 1.55 T 64.80%
Number of Holdings 56 2 3963 73.37%
Net Assets in Top 10 274 M 880 K 525 B 62.57%
Weighting of Top 10 47.67% 0.3% 111.6% 13.58%

Top 10 Holdings

  1. Microsoft Corp 7.03%
  2. Moody's Corp 6.35%
  3. Mastercard Inc 5.79%
  4. Copart Inc 4.45%
  5. Amazon.com Inc 4.32%
  6. MSCI Inc 4.23%
  7. Verisk Analytics Inc 4.06%
  8. Waste Management Inc 3.91%
  9. Marsh McLennan Cos Inc 3.88%
  10. Aon PLC 3.65%

Asset Allocation

Weighting Return Low Return High YCGEX % Rank
Stocks 		95.90% 0.00% 105.79% 89.04%
Bonds 		3.08% 0.00% 93.85% 1.73%
Cash 		1.10% 0.00% 99.07% 47.49%
Preferred Stocks 		0.00% 0.00% 2.03% 82.61%
Convertible Bonds 		0.00% 0.00% 5.54% 82.05%
Other 		-0.09% -13.91% 100.00% 99.01%

Stock Sector Breakdown

Weighting Return Low Return High YCGEX % Rank
Financial Services 		35.52% 0.00% 55.59% 1.09%
Consumer Cyclical 		21.04% 0.00% 30.33% 1.43%
Technology 		11.93% 0.00% 48.94% 94.21%
Consumer Defense 		11.87% 0.00% 47.71% 7.05%
Communication Services 		9.26% 0.00% 27.94% 30.06%
Real Estate 		6.49% 0.00% 31.91% 3.86%
Industrials 		3.89% 0.00% 29.90% 98.15%
Utilities 		0.00% 0.00% 20.91% 97.90%
Healthcare 		0.00% 0.00% 52.29% 100.00%
Energy 		0.00% 0.00% 41.64% 98.49%
Basic Materials 		0.00% 0.00% 25.70% 99.41%

Stock Geographic Breakdown

Weighting Return Low Return High YCGEX % Rank
US 		90.15% 0.00% 105.79% 89.69%
Non US 		5.75% 0.00% 63.83% 9.07%

Bond Sector Breakdown

Weighting Return Low Return High YCGEX % Rank
Government 		35.11% 0.00% 100.00% 1.21%
Cash & Equivalents 		0.00% 0.00% 100.00% 98.43%
Securitized 		0.00% 0.00% 52.16% 80.87%
Corporate 		0.00% 0.00% 100.00% 83.29%
Municipal 		0.00% 0.00% 2.10% 81.21%
Derivative 		-0.09% -1.48% 25.41% 99.09%

Bond Geographic Breakdown

Weighting Return Low Return High YCGEX % Rank
US 		3.08% 0.00% 91.39% 1.73%
Non US 		0.00% 0.00% 12.06% 81.29%

YCGEX - Expenses

Operational Fees

YCGEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.19% 0.01% 19.75% 25.39%
Management Fee 1.00% 0.00% 1.90% 98.26%
12b-1 Fee N/A 0.00% 1.00% 20.66%
Administrative Fee N/A 0.00% 0.85% N/A

Sales Fees

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

Trading Fees

YCGEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 0.25% 2.00% 51.28%

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.

YCGEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 18.00% 0.00% 268.00% 41.00%

YCGEX - Distributions

Dividend Yield Analysis

YCGEX Category Low Category High YCGEX % Rank
Dividend Yield 1.68% 0.00% 25.47% 98.43%

Dividend Distribution Analysis

YCGEX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Annual

Net Income Ratio Analysis

YCGEX Category Low Category High YCGEX % Rank
Net Income Ratio -0.34% -54.00% 2.44% 92.50%

Capital Gain Distribution Analysis

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

Distributions History

View More +

YCGEX - Fund Manager Analysis

Managers

Brian Yacktman

Start Date

Tenure

Tenure Rank

Dec 28, 2012

9.43

9.4%

Brian founded YCG, LLC in 2007. He is the President and Chief Investment Officer and serves as Portfolio Manager for the YCG Enhanced Fund. Prior to foundingYCG, Brian was an Associate at Yacktman Asset Management, the adviser to The Yacktman Funds. He joined them in June 2004 from Brigham Young University where he graduated cum laude with a B.S. in economics and an M.B.A with an emphasis in finance.

Elliott Savage

Start Date

Tenure

Tenure Rank

Dec 28, 2012

9.43

9.4%

Elliott is Portfolio Manager of the YCG Enhanced Fund. He joined YCG, LLC as partner in 2012. Prior to joining the firm, Elliott was a Senior Analyst at Highside Capital Management, a long/short equity hedge fund located in Dallas, Texas. Before Highside, Elliott worked as an investment banker in the Global Chemicals Group at Salomon Smith Barney in New York. Elliott graduated with distinction from the University of Virginia with B.A.s in both economics and cognitive science and a minor in biology.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 39.02 7.27 2.42

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