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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

$7.59

$653 M

3.52%

$0.27

0.53%

Vitals

YTD Return

-0.7%

1 yr return

2.0%

3 Yr Avg Return

-2.9%

5 Yr Avg Return

-0.4%

Net Assets

$653 M

Holdings in Top 10

22.0%

52 WEEK LOW AND HIGH

$7.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.53%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 25.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

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

$7.59

$653 M

3.52%

$0.27

0.53%

ACCSX - Profile

Distributions

  • YTD Total Return -0.7%
  • 3 Yr Annualized Total Return -2.9%
  • 5 Yr Annualized Total Return -0.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.42%
DIVIDENDS
  • Dividend Yield 3.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    RBC BlueBay Access Capital Community Investment Fund
  • Fund Family Name
    RBC Global Asset Management.
  • Inception Date
    Jun 30, 1998
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Brian Svendahl

Fund Description

The Fund seeks to achieve its investment objective by investing primarily in high quality debt securities and other debt instruments supporting low‑and moderate-income (“LMI”) individuals and communities and underserved areas of the United States. The Fund seeks to invest in affordable homeownership, affordable rental housing, small businesses and other community development activities with an aim to improve livability in LMI communities and underserved areas. Within those parameters, the Fund seeks a return consisting of current income and capital appreciation that is competitive relative to the Fund’s benchmark index. The Fund invests primarily in mortgage-backed securities, small business loans, municipal securities, and other instruments supporting the Fund’s impact goal of supporting LMI individuals and communities and underserved areas. These investments may involve private placement transactions and may include variable rate instruments. Certain investors in Class I shares of the Fund may express geographic and/or thematic preferences that will be sought when
consistent with the Fund’s overall investment objective and impact goal. The Fund is non‑diversified and, therefore, compared to a diversified investment company, the Fund may invest a greater percentage of its assets in securities of a particular issuer.
Community Investments.    At the time of their share purchase, Class I investors meeting certain investment requirements may elect to have their investment amount invested in particular areas of the United States as their preferred geographic focus or Designated Target Region. If, after six months, the Advisor is unable to make appropriate investments in a shareholder’s Designated Target Region, the shareholder will have the option to redefine its Designated Target Region.
Each shareholder’s returns will be based on the investment performance of the Fund’s blended overall portfolio of investments and not just on the performance of the assets in the Designated Target Region(s) selected by that shareholder.
The Fund expects that substantially all or most of its investments will be considered eligible for regulatory credit under the Community Reinvestment Act of 1977 (“CRA”) and that shares of the Fund will be eligible for regulatory credit under the CRA.
Investment Program.    The Fund is designed for investors seeking a competitive return on high quality debt securities that support affordable housing and/or underlying community development activities in distinct parts of the United States. Not all of the investors in the Fund are subject to CRA requirements, but may be seeking to make investments in underserved communities or to fulfill other socially responsible related investment objectives. Investors that are not subject to CRA requirements do not receive CRA credit for their investments.
Concentration in the Affordable Housing Industry.    The Fund concentrates in the affordable housing industry, which means it will invest at least 25% of its total assets in the affordable housing industry. The Fund may, however, invest up to 100% of its total assets in the affordable housing industry. The Fund will invest a significant amount of its assets in securities issued by Government National Mortgage Association (“Ginnie Mae”) and government sponsored enterprises (“GSEs”), such as the Federal National Mortgage Association (“Fannie Mae”) and Federal Home Loan Mortgage Corporation (“Freddie Mac”), Federal Housing Administration (“FHA”) project loans, and tax‑exempt debt issued by state housing finance authorities (“HFAs”) to finance their work in affordable housing.
Credit Quality.    The Fund will invest at least 75% of its total assets in securities (i) having a rating in the highest rating category assigned by a nationally recognized statistical rating organization; or (ii) if unrated, deemed by the Advisor to be of comparable quality to securities which are so rated; or (iii) issued or guaranteed by the U.S. Government, government agencies, or GSEs (together, “First Tier Holdings”). The remainder of the Fund’s total assets will be invested in First Tier Holdings or in securities rated at least in
the second highest category assigned by a nationally recognized statistical rating organization, or, if unrated, deemed by the Advisor to be of comparable quality.
Duration.    The Advisor seeks to maintain an overall average dollar-weighted portfolio duration for the Fund that is within certain percentage ranges (such as 25%) above or below the Bloomberg Barclays U.S. Securitized Index. The duration of a bond is a measure of the approximate price sensitivity to changes in interest rates and is expressed in years. The longer the duration of the bond, the more sensitive the bond’s price is to changes in interest rates. The Advisor may use interest rate futures contracts, options on futures contracts and swaps to manage the Fund’s target duration. As of December 31, 2023, the duration of the Bloomberg Barclays U.S. Securitized Index was 5.75 years.
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ACCSX - Performance

Return Ranking - Trailing

Period ACCSX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.7% -2.1% 9.6% 23.35%
1 Yr 2.0% -2.8% 36.8% 17.62%
3 Yr -2.9%* -7.8% 11.7% 41.15%
5 Yr -0.4%* -5.4% 3.4% 56.07%
10 Yr 0.8%* -1.9% 3.4% 34.34%

* Annualized

Return Ranking - Calendar

Period ACCSX Return Category Return Low Category Return High Rank in Category (%)
2023 1.3% -1.0% 22.1% 39.91%
2022 -13.9% -20.4% -5.8% 63.88%
2021 -2.9% -7.1% 16.6% 39.64%
2020 1.4% -1.3% 8.8% 83.72%
2019 3.2% 0.3% 7.1% 57.08%

Total Return Ranking - Trailing

Period ACCSX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.7% -2.1% 9.6% 23.35%
1 Yr 2.0% -2.8% 36.8% 17.62%
3 Yr -2.9%* -7.8% 11.7% 41.15%
5 Yr -0.4%* -5.4% 3.4% 56.07%
10 Yr 0.8%* -1.9% 3.4% 34.34%

* Annualized

Total Return Ranking - Calendar

Period ACCSX Return Category Return Low Category Return High Rank in Category (%)
2023 5.0% -0.5% 28.8% 18.86%
2022 -11.7% -18.5% -3.3% 45.37%
2021 -0.9% -4.5% 25.3% 24.77%
2020 4.1% -1.3% 13.0% 78.60%
2019 6.4% 1.8% 11.3% 21.23%

NAV & Total Return History


ACCSX - Holdings

Concentration Analysis

ACCSX Category Low Category High ACCSX % Rank
Net Assets 653 M 9.79 M 113 B 53.07%
Number of Holdings 943 18 12861 9.65%
Net Assets in Top 10 145 M 5.49 M 43.7 B 64.04%
Weighting of Top 10 22.03% 6.3% 115.2% 83.77%

Top 10 Holdings

  1. Fannie Mae or Freddie Mac 9.16%
  2. Fannie Mae or Freddie Mac 2.69%
  3. Fannie Mae Pool 1.80%
  4. Fannie Mae Pool 1.53%
  5. Fannie Mae Pool 1.38%
  6. Freddie Mac Pool 1.30%
  7. Fannie Mae Pool 1.17%
  8. Fannie Mae Pool 1.07%
  9. Freddie Mac Pool 0.98%
  10. Freddie Mac Pool 0.95%

Asset Allocation

Weighting Return Low Return High ACCSX % Rank
Bonds
110.89% 0.08% 167.02% 27.63%
Cash
0.23% -29.69% 22.63% 84.65%
Stocks
0.00% 0.00% 96.75% 97.81%
Preferred Stocks
0.00% 0.00% 0.10% 96.93%
Convertible Bonds
0.00% 0.00% 3.29% 96.93%
Other
-0.17% -26.81% 18.17% 93.86%

Bond Sector Breakdown

Weighting Return Low Return High ACCSX % Rank
Securitized
92.01% 0.00% 99.79% 9.21%
Municipal
3.64% 0.00% 5.24% 2.63%
Cash & Equivalents
0.23% -29.63% 33.75% 75.44%
Corporate
0.14% 0.00% 9.48% 18.86%
Government
0.00% 0.00% 100.00% 99.12%
Derivative
-0.17% -20.68% 6.72% 90.35%

Bond Geographic Breakdown

Weighting Return Low Return High ACCSX % Rank
US
110.89% 0.08% 167.02% 27.63%
Non US
0.00% 0.00% 12.01% 96.93%

ACCSX - Expenses

Operational Fees

ACCSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.53% 0.03% 3.55% 67.84%
Management Fee 0.35% 0.00% 0.85% 52.19%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.05% 0.01% 0.45% 42.45%

Sales Fees

ACCSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 4.50% N/A
Deferred Load N/A 1.00% 4.50% N/A

Trading Fees

ACCSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

ACCSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 25.00% 3.35% 948.00% 15.97%

ACCSX - Distributions

Dividend Yield Analysis

ACCSX Category Low Category High ACCSX % Rank
Dividend Yield 3.52% 0.00% 4.67% 45.18%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

ACCSX Category Low Category High ACCSX % Rank
Net Income Ratio 1.42% -0.80% 2.96% 7.93%

Capital Gain Distribution Analysis

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

Distributions History

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ACCSX - Fund Manager Analysis

Managers

Brian Svendahl


Start Date

Tenure

Tenure Rank

Oct 01, 2006

15.67

15.7%

Brian is a senior portfolio manager within the BlueBay Fixed income team. He has been lead portfolio manager for RBC GAM’s impact investing strategies since 2006 along with many government and mortgage strategies. Brian joined RBC GAM in 2005 and has co-led the Minneapolis-based fixed income group since 2012. He had previously held several risk management, research, and trading positions with a large American multinational financial services company and first started in the investment industry in 1992.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.11 31.64 8.39 7.35