Tributary Small/Mid Cap Fund
Name
As of 04/22/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-0.3%
1 yr return
13.7%
3 Yr Avg Return
3.7%
5 Yr Avg Return
N/A
Net Assets
$11.6 M
Holdings in Top 10
23.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.76%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 22.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/22/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FSMBX - Profile
Distributions
- YTD Total Return -0.3%
- 3 Yr Annualized Total Return 3.7%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.04%
- Dividend Yield 0.3%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameTributary Small/Mid Cap Fund
-
Fund Family NameTributary Funds
-
Inception DateAug 02, 2019
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDonald Radtke
Fund Description
Under normal market conditions, the Fund intends to invest at least 80% of its assets (defined as net assets plus borrows for investment purposes), in common stocks and securities that can be converted into common stocks, such as convertible bonds, convertible preferred stocks, options, and rights of companies with small- or mid-market capitalizations. The Fund defines small- and mid-market capitalization companies as companies with market capitalizations of up to $30 billion. Generally, the Fund intends to purchase securities of companies whose market capitalizations fall within the range of the market capitalizations of those companies included in the Russell 2500 Index, at the time of purchase, and to sell companies when market capitalizations exceed $30 billion. The capitalization of companies in the Russell 2500™ Index is up to $17.76 billion as of June 30, 2023. The Fund may also invest up to 20% of its assets in foreign securities either directly or through the purchase of sponsored or unsponsored American Depositary Receipts (“ADRs”). ADRs are receipts typically issued by a U.S. bank or trust company evidencing ownership of the underlying securities and may be issued as sponsored or unsponsored programs.
The investment adviser seeks to implement a core investment approach to the portfolio with a value bias, targeting companies whose stock is trading below what the investment adviser considers its intrinsic value. The investment adviser may also consider other factors, including price-to-earnings ratio, balance sheet strength, cash flow, capital usage efficiency, management style and adaptability, market share, product lines and pricing flexibility, distribution systems, and use of technology to improve productivity and quality.
FSMBX - Performance
Return Ranking - Trailing
Period | FSMBX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.3% | -15.7% | 15.7% | 87.64% |
1 Yr | 13.7% | -6.5% | 39.5% | 64.56% |
3 Yr | 3.7%* | -22.5% | 15.4% | 31.16% |
5 Yr | N/A* | -1.9% | 19.6% | N/A |
10 Yr | N/A* | 2.0% | 12.5% | N/A |
* Annualized
Return Ranking - Calendar
Period | FSMBX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 15.0% | -12.9% | 28.8% | 31.49% |
2022 | -15.3% | -52.6% | 20.1% | 24.79% |
2021 | 28.8% | -43.8% | 32.4% | 1.99% |
2020 | 12.5% | -10.6% | 82.1% | 28.11% |
2019 | N/A | -8.5% | 37.5% | N/A |
Total Return Ranking - Trailing
Period | FSMBX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.3% | -15.7% | 15.7% | 87.64% |
1 Yr | 13.7% | -6.5% | 39.5% | 64.56% |
3 Yr | 3.7%* | -22.5% | 15.4% | 31.16% |
5 Yr | N/A* | -1.9% | 19.6% | N/A |
10 Yr | N/A* | 2.0% | 12.5% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | FSMBX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 15.4% | 1.2% | 31.3% | 55.25% |
2022 | -13.8% | -45.7% | 21.1% | 41.23% |
2021 | 33.4% | -30.2% | 52.8% | 1.70% |
2020 | 12.7% | -8.4% | 84.3% | 51.78% |
2019 | N/A | 1.0% | 43.4% | N/A |
NAV & Total Return History
FSMBX - Holdings
Concentration Analysis
FSMBX | Category Low | Category High | FSMBX % Rank | |
---|---|---|---|---|
Net Assets | 11.6 M | 728 K | 160 B | 95.66% |
Number of Holdings | 58 | 1 | 2609 | 72.90% |
Net Assets in Top 10 | 3.1 M | 155 K | 11.7 B | 94.85% |
Weighting of Top 10 | 23.63% | 3.4% | 100.0% | 41.30% |
Top 10 Holdings
- Tractor Supply Co. 2.75%
- Burlington Stores, Inc. 2.60%
- Revvity, Inc. 2.37%
- PTC, Inc. 2.37%
- Stifel Financial Corp. 2.34%
- Molina Healthcare, Inc. 2.31%
- Tetra Tech, Inc. 2.25%
- Carlisle Cos., Inc. 2.22%
- ICF International, Inc. 2.22%
- Ollie's Bargain Outlet Holdings, Inc. 2.20%
Asset Allocation
Weighting | Return Low | Return High | FSMBX % Rank | |
---|---|---|---|---|
Stocks | 99.40% | 14.60% | 104.46% | 29.81% |
Cash | 0.73% | 0.00% | 30.96% | 65.31% |
Preferred Stocks | 0.00% | 0.00% | 14.30% | 83.74% |
Other | 0.00% | -1.04% | 23.02% | 84.28% |
Convertible Bonds | 0.00% | 0.00% | 1.78% | 83.20% |
Bonds | 0.00% | 0.00% | 62.14% | 84.01% |
Stock Sector Breakdown
Weighting | Return Low | Return High | FSMBX % Rank | |
---|---|---|---|---|
Technology | 20.98% | 0.00% | 40.65% | 14.13% |
Industrials | 17.15% | 0.00% | 45.89% | 45.65% |
Financial Services | 15.52% | 0.00% | 46.10% | 25.82% |
Healthcare | 11.27% | 0.00% | 24.06% | 33.70% |
Consumer Cyclical | 10.76% | 2.49% | 46.48% | 66.58% |
Real Estate | 7.23% | 0.00% | 25.82% | 57.07% |
Consumer Defense | 4.29% | 0.00% | 32.18% | 37.77% |
Energy | 3.68% | 0.00% | 58.13% | 71.20% |
Basic Materials | 3.62% | 0.00% | 16.35% | 83.42% |
Communication Services | 2.80% | 0.00% | 30.98% | 45.92% |
Utilities | 2.69% | 0.00% | 18.97% | 65.22% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | FSMBX % Rank | |
---|---|---|---|---|
US | 99.40% | 14.60% | 104.46% | 25.47% |
Non US | 0.00% | 0.00% | 19.95% | 86.72% |
FSMBX - Expenses
Operational Fees
FSMBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.76% | 0.03% | 35.91% | 13.11% |
Management Fee | 0.85% | 0.00% | 1.50% | 88.83% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.25% | 0.01% | 0.30% | 94.34% |
Sales Fees
FSMBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
FSMBX 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.
FSMBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 22.00% | 0.00% | 304.00% | 23.64% |
FSMBX - Distributions
Dividend Yield Analysis
FSMBX | Category Low | Category High | FSMBX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.28% | 0.00% | 30.91% | 78.05% |
Dividend Distribution Analysis
FSMBX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Monthly | Annual |
Net Income Ratio Analysis
FSMBX | Category Low | Category High | FSMBX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.04% | -2.06% | 3.38% | 69.75% |
Capital Gain Distribution Analysis
FSMBX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 14, 2023 | $0.043 | OrdinaryDividend |
Dec 15, 2022 | $0.247 | OrdinaryDividend |
Dec 10, 2020 | $0.029 | OrdinaryDividend |
Dec 13, 2019 | $0.024 | OrdinaryDividend |
FSMBX - Fund Manager Analysis
Managers
Donald Radtke
Start Date
Tenure
Tenure Rank
Aug 01, 2019
2.83
2.8%
Don serves as portfolio manager for the Small/Mid Cap Equity, Large Cap and Equity Income strategies and is responsible for covering the energy and industrial sectors for the investment team. Don has 30 years of financial industry experience and joined Tributary Capital Management's predecessor, First Investment Group, in 2007. Prior to joining Tributary Capital Management, Don spent over seven years as an equity and fixed income analyst and fund co-manager for WB Capital Management in Des Moines, Iowa. He was also an analyst at Bank of America Capital Management in St. Louis, Missouri, and Piper Jaffray and Craig-Hallum in Minneapolis, Minnesota. He received his Bachelor of Arts in economics from the University of Wisconsin-Milwaukee and Masters of Business Administration from the University of Minnesota.
Mark Wynegar
Start Date
Tenure
Tenure Rank
Aug 01, 2019
2.83
2.8%
Mark is the president of Tributary Capital Management and is a portfolio manager for the firm’s Small Cap, Small/Mid Cap and All Cap Equity strategies. Mark has over 25 years of industry experience and joined Tributary Capital Management’s predecessor, First Investment Group, in 1999. Prior to joining Tributary, he worked for five years at Westchester Capital Management as a senior securities analyst and two years at Union Pacific Railroad as a financial analyst, both in Omaha, Nebraska. Mark received his Bachelor of Science in Business Administration from the University of Nebraska-Lincoln. He earned his Chartered Financial Analyst (CFA) designation in 1997. Mark is a member of the CFA Society of Nebraska and the CFA Institute. He served on the Board of Directors of the CFA Society of Nebraska from 2002 to 2009, serving as president during 2007 and 2008.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.25 | 38.44 | 7.24 | 5.78 |