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Trending ETFs

Name

As of 03/27/2024

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

$3.81

$255 M

2.30%

$0.09

0.92%

Vitals

YTD Return

0.7%

1 yr return

5.3%

3 Yr Avg Return

0.6%

5 Yr Avg Return

1.7%

Net Assets

$255 M

Holdings in Top 10

10.3%

52 WEEK LOW AND HIGH

$3.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.92%

SALES FEES

Front Load 2.25%

Deferred Load N/A

TRADING FEES

Turnover 41.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$3.81

$255 M

2.30%

$0.09

0.92%

APIMX - Profile

Distributions

  • YTD Total Return 0.7%
  • 3 Yr Annualized Total Return 0.6%
  • 5 Yr Annualized Total Return 1.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.46%
DIVIDENDS
  • Dividend Yield 2.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Yorktown Short Term Bond Fund
  • Fund Family Name
    Yorktown Funds
  • Inception Date
    Jul 15, 1999
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Basten

Fund Description

Under normal circumstances, the Short Term Bond Fund invests at least 80% of its assets in fixed income securities that, in the Adviser’s opinion, offer the opportunity for income consistent with preservation of capital. The Fund’s portfolio will have an average aggregate maturity of not more than three years.

The Adviser exercises a flexible strategy in the selection of various types of debt (or fixed income) investments and is not limited by investment style, sector or asset class. The fund seeks to provide diversification by allocating the Fund’s investments among various areas of the fixed income markets.

The Fund primarily invests in the investment grade debt securities of various types. Such investments primarily include (but not limited to):

Corporate debt of U.S. and foreign (including emerging market) issuers that are denominated in U.S. Dollars
Mortgage-backed and other asset-backed securities, including privately issued mortgage-related securities and commercial mortgage-backed securities (privately issued mortgage-related securities are limited to not more than 5% of the Fund’s total assets)
Securities issued or guaranteed by the U.S. Government, its agencies or government-sponsored enterprises
Bonds of foreign government issuers (including its agencies) payable in U.S. dollars
Inflation linked investments
Taxable municipal bonds and/or tax-exempt municipal bonds.

Although the Short Term Bond Fund invests primarily in investment-grade debt securities (as designated by S&P, Moody’s or Fitch) it may invest a portion of its net assets in securities rated below investment grade. Normally we would expect the majority of these investments to be rated in the top tier of below investment grade (i.e. BB designations by S&P). Additionally, the Fund may invest a portion of its net assets in any one or a combination of the following types of fixed income securities including (but not limited to):

Preferred stock, baby bonds
High-yield debt securities (commonly referred to as “lower-rated” or “junk” bonds
Senior loans, including bridge loans, assignments, and participations
Non-rated securities for S&P, Moody’s or Fitch
Convertible securities, including convertible bonds and preferred stocks

The Fund attempts to manage interest rate risk through its management of dollar-weighted average modified duration of the securities it holds in its portfolio. Under normal conditions, the Fund’s portfolio will have an average aggregate maturity of not more than three years. The Fund also attempts to manage risk through credit analysis with a focus on company assets, free cash flow, capital stock, earnings, economic prospects and debt structure. While not limited by these factors the goal of all investments is to provide a reasonable amount of income with the barbell of capital preservation and how they interact within the portfolio. To this end, the Fund does not attempt to purchase securities with a plan to quickly turnover those assets.

The Adviser may sell a security given a variety of circumstances, such as: when an investment no longer appears to the Adviser to offer the potential to achieve the Fund’s investment objective; when an investment’s performance does not meet the Adviser’s expectations; when an investment opportunity arises that the Adviser believes is more compelling; to realize gains or limit losses; or to raise cash to meet shareholder redemptions or to pay expenses.

The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Fund’s principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Fund’s assets may be held in up to 100% cash and/or invested in money market mutual funds, money market instruments, including repurchase agreements or other short-term securities considered by the Adviser to be of a defensive nature. When the Fund is invested in this manner, it may not achieve its investment objective.

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APIMX - Performance

Return Ranking - Trailing

Period APIMX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -1.8% 9.2% 49.01%
1 Yr 5.3% -0.2% 24.4% 34.42%
3 Yr 0.6%* -5.9% 4.1% 36.06%
5 Yr 1.7%* -3.8% 4.4% 40.28%
10 Yr 1.6%* -19.2% 169.7% 34.68%

* Annualized

Return Ranking - Calendar

Period APIMX Return Category Return Low Category Return High Rank in Category (%)
2023 3.3% -5.4% 7.6% 5.44%
2022 -6.6% -17.7% -2.6% 36.78%
2021 -1.3% -4.0% 4.4% 21.95%
2020 1.0% -8.3% 7.6% 81.25%
2019 2.3% -2.3% 9.3% 30.65%

Total Return Ranking - Trailing

Period APIMX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -1.8% 9.2% 49.01%
1 Yr 5.3% -0.2% 24.4% 34.42%
3 Yr 0.6%* -5.9% 4.1% 36.06%
5 Yr 1.7%* -3.8% 4.4% 40.28%
10 Yr 1.6%* -19.2% 169.7% 34.68%

* Annualized

Total Return Ranking - Calendar

Period APIMX Return Category Return Low Category Return High Rank in Category (%)
2023 6.1% -1.1% 15.2% 34.66%
2022 -4.9% -17.3% -1.3% 50.65%
2021 0.2% -2.7% 7.7% 39.12%
2020 3.1% -4.4% 14.5% 83.59%
2019 5.4% 0.6% 12.6% 27.42%

NAV & Total Return History


APIMX - Holdings

Concentration Analysis

APIMX Category Low Category High APIMX % Rank
Net Assets 255 M 14.1 K 58.8 B 75.76%
Number of Holdings 304 2 9721 64.27%
Net Assets in Top 10 28 M 1.16 M 6.6 B 87.25%
Weighting of Top 10 10.27% 1.8% 108.7% 85.28%

Top 10 Holdings

  1. United States Treasury Note 1.57%
  2. Intesa Sanpaolo SpA 1.42%
  3. Societe Generale SA 1.05%
  4. CPS Auto Receivables Trust 1.02%
  5. First Investors Auto Owner Trust 0.99%
  6. Santander Holdings USA, Inc. 0.90%
  7. CCG Receivables Trust 0.89%
  8. American Credit Acceptance Receivables Trust 0.86%
  9. American Credit Acceptance Receivables Trust 0.79%
  10. Carvana Auto Receivables Trust 0.78%

Asset Allocation

Weighting Return Low Return High APIMX % Rank
Bonds
65.45% 0.00% 130.68% 86.54%
Other
34.10% -0.97% 72.36% 4.67%
Convertible Bonds
5.52% 0.00% 27.71% 10.25%
Cash
0.45% -20.59% 62.18% 82.41%
Stocks
0.00% 0.00% 103.64% 29.26%
Preferred Stocks
0.00% 0.00% 21.82% 18.31%

Bond Sector Breakdown

Weighting Return Low Return High APIMX % Rank
Corporate
54.66% 0.00% 100.00% 26.62%
Securitized
44.94% 0.00% 97.27% 15.65%
Cash & Equivalents
0.20% 0.00% 62.18% 77.02%
Government
0.19% 0.00% 73.63% 93.35%
Derivative
0.00% -0.55% 24.84% 49.19%
Municipal
0.00% 0.00% 17.46% 56.65%

Bond Geographic Breakdown

Weighting Return Low Return High APIMX % Rank
US
65.45% 0.00% 130.68% 85.46%
Non US
0.00% 0.00% 83.16% 24.60%

APIMX - Expenses

Operational Fees

APIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.92% 0.01% 3.24% 29.71%
Management Fee 0.70% 0.00% 1.19% 96.41%
12b-1 Fee 0.00% 0.00% 1.00% 1.04%
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

APIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.25% 0.50% 5.75% 42.50%
Deferred Load N/A 0.50% 4.00% N/A

Trading Fees

APIMX 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.

APIMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 41.00% 2.00% 500.00% 22.18%

APIMX - Distributions

Dividend Yield Analysis

APIMX Category Low Category High APIMX % Rank
Dividend Yield 2.30% 0.00% 10.34% 90.13%

Dividend Distribution Analysis

APIMX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

APIMX Category Low Category High APIMX % Rank
Net Income Ratio 1.46% -1.27% 4.98% 33.76%

Capital Gain Distribution Analysis

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

Distributions History

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APIMX - Fund Manager Analysis

Managers

David Basten


Start Date

Tenure

Tenure Rank

Jul 02, 1997

24.93

24.9%

Mr. David D. Basten is the Yorktown’s Chief Investment Officer and a Portfolio Manager, having served in that capacity since commencement of each Fund’s operations. Mr. David D. Basten is President and Director of the Yorktown, Managing Partner of Waimed Enterprises, LLC and partner of Downtown Enterprises.Mr. David M. Basten has served as Portfolio Manager since 2005.

Barry Weiss


Start Date

Tenure

Tenure Rank

Mar 25, 2019

3.19

3.2%

Mr. Barry D. Weiss, CFA serves as Portfolio Managers at Yorktown Management & Research since 2019. Prior to that, Mr. Weiss was a Senior Director with the Kroll Bond Rating Agency from 2016 through March 2019. Mr. Weiss was Director for Fund Ratings at Standard & Poor’s Rating Services from 2013 through 2016.

John Tener


Start Date

Tenure

Tenure Rank

Apr 10, 2019

3.14

3.1%

Mr. Tener has served as Portfolio Manager since 2019 and prior to that was a Portfolio Manager for Atlantic Capital Management from 2013 through April 2019.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 28.77 6.13 2.41