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Name

As of

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

American Independence Boyd Watterson Short-Term Enhanced Bond Fund

ISTSX |

-

$25 M

-

1.63%

Vitals

YTD Return

N/A

1 yr return

0.5%

3 Yr Avg Return

0.7%

5 Yr Avg Return

1.0%

Net Assets

$25 M

Holdings in Top 10

21.6%

52 WEEK LOW AND HIGH

N/A
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.63%

SALES FEES

Front Load 2.25%

Deferred Load N/A

TRADING FEES

Turnover 95.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

$250

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of

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

American Independence Boyd Watterson Short-Term Enhanced Bond Fund

ISTSX |

-

$25 M

-

1.63%

ISTSX - Profile

Distributions

  • YTD Total Return N/A
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return 0.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.16%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    American Independence Boyd Watterson Short-Term Enhanced Bond Fund
  • Fund Family Name
    American Independence
  • Inception Date
    May 02, 2006
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Justin C. Waggoner

Fund Description

ISTSX - Performance

Return Ranking - Trailing

Period ISTSX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -3.3% 12.1% N/A
1 Yr 0.5% -16.1% 8.0% N/A
3 Yr 0.7%* -4.3% 44.5% N/A
5 Yr 1.0%* -6.2% 23.8% N/A
10 Yr 2.2%* -7.3% 15.9% N/A

* Annualized

Return Ranking - Calendar

Period ISTSX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -22.2% 3.1% N/A
2022 N/A -5.1% 25.1% N/A
2021 N/A -8.5% 192.8% N/A
2020 N/A -33.0% 3.0% N/A
2019 N/A -29.8% 32.1% N/A

Total Return Ranking - Trailing

Period ISTSX Return Category Return Low Category Return High Rank in Category (%)
YTD N/A -3.3% 12.5% N/A
1 Yr -1.7% -16.1% 10.5% N/A
3 Yr -0.1%* -4.3% 49.6% N/A
5 Yr 0.5%* -3.8% 28.8% N/A
10 Yr 1.9%* -7.3% 18.6% N/A

* Annualized

Total Return Ranking - Calendar

Period ISTSX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -22.2% 7.9% N/A
2022 N/A -4.6% 25.1% N/A
2021 N/A -4.1% 204.3% N/A
2020 N/A -32.4% 4.2% N/A
2019 N/A -29.8% 32.1% N/A

ISTSX - Holdings

Concentration Analysis

ISTSX Category Low Category High ISTSX % Rank
Net Assets 25 M 337 K 218 B N/A
Number of Holdings 92 3 17333 N/A
Net Assets in Top 10 5.33 M -1.98 B 29.3 B N/A
Weighting of Top 10 21.56% 4.0% 1674.7% N/A

Top 10 Holdings

  1. GNMA 6.5% 3.66%
  2. US Treasury Note 0.875% 2.44%
  3. Goldman Sachs Grp Inc Mtn Be FRN 2.14%
  4. Bk Of Amer Corporation 5.75% 2.12%
  5. Citigroup FRN 1.97%
  6. Amer Express FRN 1.92%
  7. Verizon Comms FRN 1.91%
  8. At&T FRN 1.83%
  9. Hartford Finl Svcs Grp 5.375% 1.83%
  10. Hewlett Packard 3% 1.75%

Asset Allocation

Weighting Return Low Return High ISTSX % Rank
Bonds 		76.18% 0.00% 394.27% N/A
Cash 		22.00% -539.21% 80.58% N/A
Preferred Stocks 		1.63% 0.00% 20.33% N/A
Other 		0.19% -98.58% 236.55% N/A
Stocks 		0.00% -0.99% 97.68% N/A
Convertible Bonds 		0.00% 0.00% 18.42% N/A

Bond Sector Breakdown

Weighting Return Low Return High ISTSX % Rank
Corporate 		57.66% 0.00% 127.23% N/A
Cash & Equivalents 		22.00% -532.79% 80.58% N/A
Securitized 		17.68% 0.00% 103.00% N/A
Government 		2.46% -74.72% 316.66% N/A
Derivative 		0.00% -234.33% 54.22% N/A
Municipal 		0.00% 0.00% 102.07% N/A

Bond Geographic Breakdown

Weighting Return Low Return High ISTSX % Rank
US 		70.68% 0.00% 219.16% N/A
Non US 		5.50% -108.37% 244.34% N/A

ISTSX - Expenses

Operational Fees

ISTSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.63% 0.00% 38.42% N/A
Management Fee 0.40% 0.00% 2.15% N/A
12b-1 Fee 0.25% 0.00% 1.00% N/A
Administrative Fee 0.13% 0.00% 0.63% N/A

Sales Fees

ISTSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.25% 0.50% 5.75% N/A
Deferred Load N/A 0.15% 5.50% N/A

Trading Fees

ISTSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

ISTSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 95.00% 0.00% 2337.00% N/A

ISTSX - Distributions

Dividend Yield Analysis

ISTSX Category Low Category High ISTSX % Rank
Dividend Yield 0.00% 0.00% 8.54% N/A

Dividend Distribution Analysis

ISTSX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

ISTSX Category Low Category High ISTSX % Rank
Net Income Ratio 1.16% -2.82% 7.22% N/A

Capital Gain Distribution Analysis

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

Distributions History

View More +

ISTSX - Fund Manager Analysis

Managers

Justin C. Waggoner

Start Date

Tenure

Tenure Rank

Nov 15, 2013

1.71

1.7%

Mr. Waggoner is a Portfolio Manager, focusing on Boyd Watterson’s suite of taxable short/intermediate fixed income portfolios. He has been employed by Boyd Watterson since 2007. Mr. Waggoner joined Duff & Phelps, predecessor to Boyd Watterson, in 1999 and has more than a decade of experience in the investment industry. He holds an MBA from Case Western Reserve University and a BS from Ohio State University.

Gregory H. Cobb

Start Date

Tenure

Tenure Rank

Nov 15, 2013

1.71

1.7%

Gregory H. Cobb. Mr. Cobb is an Executive Vice President and the Lead Fixed Income Strategist at Boyd Watterson Asset Management. Mr. Cobb joined Sovereign Advisers in 1999 which subsequently merged into Boyd Watterson on January 1, 2011. At Sovereign Advisers, Mr. Cobb was a managing director and the chief investment officer of the firm. He has more than 20 years experience working in the investment industry. Prior to joining Sovereign Advisers, he was a senior portfolio manager for the fixed-income divisions of Bank of America, Trusco Capital Management and Barnett Banks. Mr. Cobb is an affiliated member of the CFA Society of North Carolina and the CFA Institute. Mr. Cobb earned his BA degree in economics from the University of North Carolina at Chapel Hill where he also pursued post-graduate studies in economics and finance.

G David Hollins

Start Date

Tenure

Tenure Rank

Nov 15, 2013

1.71

1.7%

G. David Hollins, CFA. Mr. Hollins is Director of Credit Research at Boyd Watterson Asset Management. Prior to joining the firm in 2008, David served as Senior Securities Analyst at Bank of America (TradeStreet Investment Associates), Investment Officer at Unum (Provident Investment Management), and Director of Research at BlackHawk Capital Management. David has 25 years of experience working in the investment industry. David holds a CFA Charter from CFA Institute, an MBA from East Tennessee State University, and a BS from the University of Tennessee. He is a member of the CFA Society of North Carolina, CFA Institute, and the Charlotte Economics Club.

Brian A Convery

Start Date

Tenure

Tenure Rank

Nov 15, 2013

1.71

1.7%

Brian A. Convery, CFA. Mr. Convery is a Portfolio Manager focusing on Boyd Watterson's high yield portfolios and credit research. Mr. Convery is also a member of the Real Estate Investment Committee. Brian joined Boyd Watterson Asset Management in 2011. Prior to joining the firm, Brian was a Senior Investment Analyst with Key Private Bank in Cleveland and a Partner at WR Huff Asset Management. Brian has more than a decade of investment experience. He holds a CFA Charter from CFA Institute, an MBA from Georgetown University, and a BA from the University of Dayton. Brian is a member of the CFA Society of Cleveland and CFA Institute.

David M. Dirk

Start Date

Tenure

Tenure Rank

Nov 15, 2013

1.71

1.7%

David M. Dirk, CFA. Mr. Dirk is co-Director of Fixed Income with responsibility for directing all Portfolio Management and Trading activity at Boyd Watterson Asset Management. This includes the evaluation, implementation, and execution of all strategies across Boyd Watterson's suite of fixed income products. Mr. Dirk joined Duff & Phelps, predecessor to Boyd Watterson Asset Management, in 1996 and has more than 15 years of experience in the investment industry. David holds a CFA Charter from CFA Institute, an MBA from Case Western Reserve University, and a BA from Baldwin-Wallace College. He is also a member of the CFA Society of Cleveland and CFA Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.66 30.51 9.5 12.59

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