NAA World Equity Income Fund
Name
As of 09/19/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
16.3%
1 yr return
22.9%
3 Yr Avg Return
7.6%
5 Yr Avg Return
10.0%
Net Assets
$47.9 M
Holdings in Top 10
21.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.56%
SALES FEES
Front Load 4.75%
Deferred Load N/A
TRADING FEES
Turnover 191.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 09/19/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SEQAX - Profile
Distributions
- YTD Total Return 16.3%
- 3 Yr Annualized Total Return 7.6%
- 5 Yr Annualized Total Return 10.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.55%
- Dividend Yield 2.9%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameNAA World Equity Income Fund
-
Fund Family NameGuggenheim
-
Inception DateOct 01, 1993
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerFarhan Sharaff
Fund Description
Under normal circumstances, the Fund will invest at least 80% of its assets (net assets, plus the amount of any borrowings for investment purposes) in equity securities. Generally, the Fund intends to invest in dividend-yielding equity securities. The Fund is not limited in the percentage of assets it may invest in securities listed, traded, or dealt in any one country, region, or geographic area, and it may invest in several countries throughout the world, including emerging markets.
While the Fund tends to focus its investments in equity securities of large capitalization companies, it can also invest in companies that represent a broad range of market capitalizations and will not be constrained by capitalization limits. At times, the Fund may thus invest a significant portion of its assets in small- and mid-capitalization companies. The equity securities in which the Fund may invest include, but are not limited to, common stock, REITs, preferred stock, American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), American Depositary Shares (“ADS”), convertible securities and warrants. Convertible securities are hybrid financial instruments that typically consist of bonds, debentures, or preferred shares that can be converted into a specified number of common or preferred shares of the issuing company, typically at the option of the security holder.
The Fund invests in securities denominated in a wide variety of currencies.
The Fund may invest in various investment vehicles, such as exchange-traded funds (“ETFs”) and other mutual funds, to manage its cash position or gain exposure to the equity markets or a particular sector of the equity markets. These investments may be more liquid than investing directly in individual issuers. In selecting mutual funds and ETFs for investment, the Adviser will prioritize investments that align with and support the Fund’s overall strategy.
The Fund may also hold up to 20% of its assets (net assets, plus the amount of any borrowing for investment purposes) in non-equity securities of foreign or U.S. issuers. These investments may include both investment-grade and high-yield fixed income securities.
The Fund may invest in securities of “investment grade” quality. “Investment grade” quality means securities that are rated at the time of purchase Baa3 or higher by Moody’s Investors Service, Inc. (“Moody’s), BBB- or higher by Standard & Poor’s Ratings Services (“Standard & Poor’s”), an equivalent rating by another nationally recognized statistical rating organization, or unrated securities determined by the Adviser to be of comparable credit quality. High-yield securities, often referred to as “below investment grade,” include those rated below Baa3 by Moody’s, BBB- by Standard & Poor’s, an equivalent rating by another nationally recognized statistical rating organization, or unrated securities determined by the Adviser to be of comparable credit quality.
The Fund will seek to reduce its interest rate or foreign currency exposure by engaging in transactions and derivatives designed to hedge against adverse movements in interest rates or foreign currencies, including forward foreign currency contracts, spot market transactions, currency futures, swaps, and options. At times, the Fund may engage in extensive foreign currency hedging transactions.
In selecting investments for the Fund, the Adviser uses qualitative and quantitative analysis, credit research, and other proprietary strategies to identify securities that, in combination, are expected to contribute to exceeding the total return of the S&P Developed BMI Index. In buying and selling securities for the Fund, the Adviser will apply its proprietary H-Factor Scores (“H-Factor”) methodology to its security selection process. H-Factor uses an algorithm rooted in actuarial risk principles to construct a portfolio with exposure to returns across sectors, styles, geographies, and asset classes. Using an actuarial-based approach, H-Factor aims to identify underpriced and overpriced securities and assign them an H-Factor score, which is the probability that the issuer will not deliver growth to support the securities’ current price. By assigning these scores, the Adviser seeks to avoid the overpriced securities and invest in the underpriced securities. The Adviser’s team of portfolio managers and analysts use a bottom-up assessment of a company's potential for success, including its financial condition, earnings outlook, strategy, management, industry position, and economic and market conditions. As a result of this investment process, the Fund may invest in a limited number of sectors or industries.
The Fund will sell investments when they no longer meet the Adviser’s investment criteria, market conditions change, to meet redemption requests, or close or unwind derivatives transactions.
SEQAX - Performance
Return Ranking - Trailing
Period | SEQAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 16.3% | -35.6% | 29.2% | 5.15% |
1 Yr | 22.9% | 17.3% | 252.4% | 55.23% |
3 Yr | 7.6%* | -3.5% | 34.6% | 69.34% |
5 Yr | 10.0%* | 0.1% | 32.7% | 76.78% |
10 Yr | 7.2%* | -6.9% | 18.3% | 84.60% |
* Annualized
Return Ranking - Calendar
Period | SEQAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.0% | -24.3% | 957.1% | 75.18% |
2022 | -11.3% | -38.3% | 47.1% | 68.52% |
2021 | -6.1% | -54.2% | 0.6% | 22.75% |
2020 | 4.1% | -76.0% | 54.1% | 84.19% |
2019 | 18.0% | -26.1% | 47.8% | 8.93% |
Total Return Ranking - Trailing
Period | SEQAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 16.3% | -35.6% | 29.2% | 5.26% |
1 Yr | 22.9% | 11.4% | 252.4% | 72.16% |
3 Yr | 7.6%* | -3.5% | 34.6% | 79.44% |
5 Yr | 10.0%* | 0.1% | 32.7% | 83.09% |
10 Yr | 7.2%* | -6.9% | 18.3% | 87.57% |
* Annualized
Total Return Ranking - Calendar
Period | SEQAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.5% | -24.3% | 957.1% | 75.18% |
2022 | 15.6% | -33.1% | 47.1% | 69.03% |
2021 | 22.0% | -44.4% | 1.8% | 43.61% |
2020 | 7.0% | -6.5% | 54.1% | 93.12% |
2019 | 23.0% | -14.4% | 47.8% | 18.50% |
NAV & Total Return History
SEQAX - Holdings
Concentration Analysis
SEQAX | Category Low | Category High | SEQAX % Rank | |
---|---|---|---|---|
Net Assets | 47.9 M | 199 K | 133 B | 80.37% |
Number of Holdings | 146 | 1 | 9075 | 24.89% |
Net Assets in Top 10 | 10.7 M | -18 M | 37.6 B | 85.90% |
Weighting of Top 10 | 21.67% | 9.1% | 100.0% | 89.59% |
Top 10 Holdings
- Apple Inc 2.98%
- Microsoft Corp 2.96%
- Alphabet Inc Class C 2.27%
- Amazon.com Inc 1.87%
- Chevron Corp 1.58%
- Exxon Mobil Corp 1.56%
- Accenture PLC Class A 1.53%
- Johnson & Johnson 1.50%
- Mastercard Inc A 1.35%
- ASML Holding NV 1.33%
Asset Allocation
Weighting | Return Low | Return High | SEQAX % Rank | |
---|---|---|---|---|
Stocks | 98.82% | 61.84% | 125.47% | 8.59% |
Preferred Stocks | 0.62% | -0.01% | 5.28% | 45.59% |
Cash | 0.51% | -174.70% | 23.12% | 77.97% |
Other | 0.05% | -13.98% | 19.14% | 99.34% |
Convertible Bonds | 0.00% | 0.00% | 4.46% | 39.43% |
Bonds | 0.00% | -1.50% | 161.67% | 42.62% |
Stock Sector Breakdown
Weighting | Return Low | Return High | SEQAX % Rank | |
---|---|---|---|---|
Technology | 19.07% | 0.00% | 49.87% | 67.51% |
Financial Services | 13.70% | 0.00% | 38.42% | 38.55% |
Healthcare | 11.76% | 0.00% | 35.42% | 76.21% |
Consumer Cyclical | 10.98% | 0.00% | 40.94% | 74.78% |
Industrials | 8.79% | 0.00% | 44.06% | 60.57% |
Communication Services | 7.83% | 0.00% | 57.66% | 82.71% |
Utilities | 7.11% | 0.00% | 29.12% | 7.05% |
Consumer Defense | 6.37% | 0.00% | 73.28% | 39.87% |
Basic Materials | 5.69% | 0.00% | 38.60% | 6.17% |
Energy | 5.45% | 0.00% | 21.15% | 33.26% |
Real Estate | 3.26% | 0.00% | 39.48% | 4.41% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | SEQAX % Rank | |
---|---|---|---|---|
US | 73.14% | 0.13% | 103.82% | 15.09% |
Non US | 25.68% | 0.58% | 99.46% | 82.05% |
SEQAX - Expenses
Operational Fees
SEQAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.56% | 0.01% | 44.27% | 34.44% |
Management Fee | 0.70% | 0.00% | 1.82% | 46.94% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 29.93% |
Administrative Fee | N/A | 0.01% | 0.76% | 79.40% |
Sales Fees
SEQAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 4.75% | 2.50% | 5.75% | 84.80% |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
SEQAX 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.
SEQAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 191.00% | 0.00% | 395.00% | 99.20% |
SEQAX - Distributions
Dividend Yield Analysis
SEQAX | Category Low | Category High | SEQAX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.86% | 0.00% | 3.26% | 38.95% |
Dividend Distribution Analysis
SEQAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annually | Annually | Annually |
Net Income Ratio Analysis
SEQAX | Category Low | Category High | SEQAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.55% | -4.27% | 12.65% | 30.45% |
Capital Gain Distribution Analysis
SEQAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.043 | OrdinaryDividend |
Dec 29, 2023 | $0.076 | OrdinaryDividend |
Sep 29, 2023 | $0.043 | OrdinaryDividend |
Jun 30, 2023 | $0.085 | OrdinaryDividend |
Mar 31, 2023 | $0.075 | OrdinaryDividend |
Dec 30, 2022 | $0.055 | OrdinaryDividend |
Sep 30, 2022 | $0.084 | OrdinaryDividend |
Jun 30, 2022 | $0.103 | OrdinaryDividend |
Mar 31, 2022 | $0.059 | OrdinaryDividend |
Dec 31, 2021 | $4.318 | OrdinaryDividend |
Sep 30, 2021 | $0.088 | OrdinaryDividend |
Jun 30, 2021 | $0.124 | OrdinaryDividend |
Mar 31, 2021 | $0.055 | OrdinaryDividend |
Dec 31, 2020 | $0.099 | OrdinaryDividend |
Sep 30, 2020 | $0.056 | OrdinaryDividend |
Jun 30, 2020 | $0.052 | OrdinaryDividend |
Mar 31, 2020 | $0.076 | OrdinaryDividend |
Dec 31, 2019 | $0.082 | OrdinaryDividend |
Dec 31, 2019 | $0.041 | CapitalGainLongTerm |
Sep 30, 2019 | $0.082 | OrdinaryDividend |
Jun 28, 2019 | $0.103 | OrdinaryDividend |
Mar 29, 2019 | $0.085 | OrdinaryDividend |
Dec 31, 2018 | $0.098 | OrdinaryDividend |
Dec 31, 2018 | $0.128 | CapitalGainLongTerm |
Sep 28, 2018 | $0.057 | OrdinaryDividend |
Jun 29, 2018 | $0.095 | OrdinaryDividend |
Mar 29, 2018 | $0.064 | OrdinaryDividend |
Dec 29, 2017 | $0.034 | OrdinaryDividend |
Sep 29, 2017 | $0.087 | OrdinaryDividend |
Jun 30, 2017 | $0.123 | OrdinaryDividend |
Mar 31, 2017 | $0.092 | OrdinaryDividend |
Dec 30, 2016 | $0.048 | OrdinaryDividend |
Sep 30, 2016 | $0.071 | OrdinaryDividend |
Jun 30, 2016 | $0.099 | OrdinaryDividend |
Mar 31, 2016 | $0.101 | OrdinaryDividend |
Dec 31, 2015 | $0.039 | OrdinaryDividend |
Sep 30, 2015 | $0.061 | OrdinaryDividend |
Jun 30, 2015 | $0.105 | OrdinaryDividend |
Mar 31, 2015 | $0.086 | OrdinaryDividend |
Dec 31, 2014 | $0.090 | OrdinaryDividend |
Sep 30, 2014 | $0.104 | OrdinaryDividend |
Jun 30, 2014 | $0.131 | OrdinaryDividend |
Mar 31, 2014 | $0.064 | OrdinaryDividend |
Dec 05, 2013 | $0.122 | OrdinaryDividend |
Sep 30, 2013 | $0.083 | OrdinaryDividend |
SEQAX - Fund Manager Analysis
Managers
Farhan Sharaff
Start Date
Tenure
Tenure Rank
Aug 15, 2013
8.8
8.8%
Farhan Sharaff has served as a Portfolio Manager for each Fund since 2017. He is Assistant Chief Investment Officer, Equities, Senior Managing Director and Portfolio Manager of Guggenheim Partners. Mr. Sharaff joined Guggenheim Partners in May 2009. Mr. Sharaff has more than 30 years of experience in investment research and investment management. Prior to joining Guggenheim Partners, he was a Partner and Chief Investment Officer at MJX Capital Advisors, a wealth management firm focused on providing advice and investment management for its clients, especially in the traditional and alternative asset classes and Guggenheim Investments plc. Prior to that, Mr. Sharaff served as the global Chief Investment Officer at CIGNA Corporation, Zurich Scudder Investments and Citigroup. In all of the above engagements, Mr. Sharaff was responsible for research, investment management, product development and investment risk management. He was also a member of the business management teams at Citigroup and Zurich Scudder. Mr. Sharaff has a B.S. in Electrical Engineering from the University of Aston (U.K.) and an MBA in Finance from the Manchester Business School (U.K.). In addition, Mr. Sharaff sits on boards of CITIC Capital Asset Management, Clarfeld Financial Advisors, and Guggenheim Global Investment plc.
Evan Einstein
Start Date
Tenure
Tenure Rank
Jan 30, 2017
5.33
5.3%
Evan Einstein, Director and Portfolio Manager of Security Investors. Mr. Einstein joined Guggenheim in 2010 as a valued member of the Global Alpha Equity team. He is responsible for portfolio optimization and development as well as maintaining the systems. He has previously worked for Oppenheimer Institutional’s small-cap value portfolio management desk as well as for State Street Global Advisors global equity trading analytics. Prior to this, Mr. Einstein was CTO and founding partner at Elkweb Information Systems, an internet technology and information firm. He has received his B.S. degree in Electrical Engineering from Syracuse University and an MBA from Babson College.
Douglas Makin
Start Date
Tenure
Tenure Rank
Jul 30, 2020
1.84
1.8%
Director and Portfolio Manager of Guggenheim Partners, has co-managed Series D since July 2020. Mr. Makin joined Guggenheim Partners in 2011 and has over 20 years’ experience in the financial markets across a variety of fields including portfolio management, risk and performance management, product development and trade execution. He currently oversees strategy implementation, working with co-portfolio managers, research analysts and traders to manage day-to-day risk. Prior to joining Guggenheim Partners, he has worked as a Senior Equity Analyst at ABN-AMRO in New York where he covered and published research on global telecom companies. Mr. Makin holds a BA in European History from the University of Colorado.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.01 | 35.82 | 6.24 | 1.25 |