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Trending ETFs

Name

As of 10/13/2023

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

$17.22

$289 M

10.39%

$1.79

1.57%

Vitals

YTD Return

1.6%

1 yr return

11.5%

3 Yr Avg Return

4.9%

5 Yr Avg Return

5.5%

Net Assets

$289 M

Holdings in Top 10

22.1%

52 WEEK LOW AND HIGH

$17.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.57%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 111.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$250,000

IRA

N/A


Fund Classification

Fund Type

Closed-end mutual fund


Name

As of 10/13/2023

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

$17.22

$289 M

10.39%

$1.79

1.57%

PSOIX - Profile

Distributions

  • YTD Total Return 1.6%
  • 3 Yr Annualized Total Return 4.9%
  • 5 Yr Annualized Total Return 5.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.56%
DIVIDENDS
  • Dividend Yield 10.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Palmer Square Opportunistic Income Fund
  • Fund Family Name
    PALMER SQUARE FUNDS
  • Inception Date
    Aug 29, 2014
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Christopher Long

Fund Description


PSOIX - Performance

Return Ranking - Trailing

Period PSOIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% -6.8% 5.6% 3.22%
1 Yr 11.5% -9.3% 23.2% 2.76%
3 Yr 4.9%* -16.6% 18.0% 2.26%
5 Yr 5.5%* -13.0% 15.0% 2.06%
10 Yr N/A* -13.4% 6.7% N/A

* Annualized

Return Ranking - Calendar

Period PSOIX Return Category Return Low Category Return High Rank in Category (%)
2023 7.8% -12.0% 15.7% 1.53%
2022 -11.3% -31.8% 18.4% 38.87%
2021 -0.1% -26.6% 25.7% 24.15%
2020 -0.8% -49.2% 18.7% 69.89%
2019 1.5% -35.1% 15.3% 85.17%

Total Return Ranking - Trailing

Period PSOIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% -6.8% 5.6% 3.22%
1 Yr 11.5% -9.3% 23.2% 2.76%
3 Yr 4.9%* -16.6% 18.0% 2.26%
5 Yr 5.5%* -13.0% 15.0% 2.06%
10 Yr N/A* -13.4% 6.7% N/A

* Annualized

Total Return Ranking - Calendar

Period PSOIX Return Category Return Low Category Return High Rank in Category (%)
2023 12.8% -7.0% 22.2% 4.28%
2022 -4.4% -31.8% 21.1% 22.73%
2021 6.7% -13.5% 49.9% 7.78%
2020 5.9% -28.6% 24.1% 47.01%
2019 7.6% -4.8% 19.1% 62.93%

NAV & Total Return History


PSOIX - Holdings

Concentration Analysis

PSOIX Category Low Category High PSOIX % Rank
Net Assets 289 M 2.32 M 127 B 63.72%
Number of Holdings 344 2 10577 57.81%
Net Assets in Top 10 63.9 M -1.57 B 65.8 B 67.68%
Weighting of Top 10 22.09% 0.7% 170.6% 65.90%

Top 10 Holdings

  1. Fidelity Treasury Portfolio - Class I 9.06%
  2. PSOIX FUNDING I LLC / 7.03%
  3. Flatiron Clo 17 Ltd. 0.86%
  4. Dryden 30 Senior Loan Fund 0.82%
  5. Dryden 86 CLO Ltd. 0.77%
  6. Highbridge Loan Management 12-2018 Ltd. 0.72%
  7. THL Credit Wind River 2013-2 CLO Ltd. 0.72%
  8. CIFC European Funding CLO III DAC 0.71%
  9. Generate Clo 11 Ltd. 0.70%
  10. Post CLO 2023-1 Ltd. 0.69%

Asset Allocation

Weighting Return Low Return High PSOIX % Rank
Bonds
97.64% -150.81% 203.29% 22.91%
Cash
9.10% -94.66% 258.91% 20.79%
Preferred Stocks
0.45% 0.00% 30.46% 22.00%
Stocks
0.00% -1.60% 99.88% 90.59%
Convertible Bonds
0.00% 0.00% 33.50% 95.79%
Other
-7.38% -72.32% 100.00% 96.05%

Bond Sector Breakdown

Weighting Return Low Return High PSOIX % Rank
Securitized
73.98% 0.00% 99.65% 6.57%
Corporate
18.86% 0.00% 96.66% 71.21%
Cash & Equivalents
9.10% 0.00% 88.14% 18.87%
Municipal
0.00% 0.00% 54.26% 77.15%
Government
0.00% 0.00% 99.43% 94.21%
Derivative
-7.38% -72.32% 37.37% 98.63%

Bond Geographic Breakdown

Weighting Return Low Return High PSOIX % Rank
US
90.47% -151.11% 203.29% 28.83%
Non US
7.17% 0.00% 67.77% 35.96%

PSOIX - Expenses

Operational Fees

PSOIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.57% 0.01% 20.67% 35.70%
Management Fee 1.00% 0.00% 2.29% 85.54%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.70% 36.47%

Sales Fees

PSOIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% 85.71%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PSOIX 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.

PSOIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 111.00% 0.00% 632.00% 67.58%

PSOIX - Distributions

Dividend Yield Analysis

PSOIX Category Low Category High PSOIX % Rank
Dividend Yield 10.39% 0.00% 18.15% 7.67%

Dividend Distribution Analysis

PSOIX Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Monthly Quarterly

Net Income Ratio Analysis

PSOIX Category Low Category High PSOIX % Rank
Net Income Ratio 5.56% -1.55% 11.51% 8.17%

Capital Gain Distribution Analysis

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

Distributions History

View More +

PSOIX - Fund Manager Analysis

Managers

Christopher Long


Start Date

Tenure

Tenure Rank

Aug 29, 2014

7.76

7.8%

Mr. Christopher Long is the Founder and serves as Chief Executive Officer, President and Portfolio Manager at Palmer Square Capital Management. Since inception, Chris has been successful in not only building a highly-experienced investment team, but also an integrated credit investment platform that manages mutual fund offerings, private funds and separately managed accounts. The firm has a client list that spans not only institutions and family offices, but also RIAs, bank/trust, and broker-dealers. Chris's previous work experience includes key investment roles at Prairie Capital and Sandell Asset Management as well as working at Morgan Stanley in the Credit Derivatives and Distressed Securities Group focused on the firm's proprietary investments. Before Morgan Stanley, he worked at TH Lee Putnam Ventures, a private equity fund sponsored by Thomas H Lee Partners and Putnam Investments. In that role, he also served on the Board of Directors of Avero, Inc. and was a Board Observer for Parago, Inc. He started his career at JPMorgan & Co. in Leveraged Finance and Mergers & Acquisitions (FIG Group) advising corporations and private equity firms on investment banking and capital markets. He received an MBA degree from the Harvard Business School and an AB degree in Economics cum laude from Princeton University. Chris's community involvement includes serving as an Investment Committee member of the Nelson-Atkins Museum of Art, Board Member of the Children's Mercy Hospital Foundation, Trustee for the St. Paul's Episcopal Day School, Co-Class Agent for Princeton University, Social Chair for the Princeton Club of Greater Kansas City, and Alumni Mentor for the Princeton University Bendheim Center for Finance Mentorship Program. Chris is also a member of the Young Presidents Organization (YPO) and the Economic Club of Kansas City. Formerly, Chris was also appointed by Kansas Governor Sam Brownback and unanimously approved by the Senate to two terms as a Trustee for the Kansas Public Employees Retirement System (KPERS). Chris also formerly served as the Treasurer for the City of Mission Hills, KS (appointed by Mayor David Fromm of Mission Hills, KS). Finally, Chris was formerly a Member of the Children's Mercy Hospitals Leadership Circle of Care Committee, Kansas University's Finance Department Advisory Board, Treasurer for the Harvard-Radcliffe Club of Kansas City, Investment Committee Member for the Foundation of the University of Missouri-Kansas City and Member of the Major Gifts Committee - Harvard Business School. Finally, Chris was selected as a Finalist for the 2016 Ernst & Young Entrepreneur of the Year Award for the Central Midwest Region and to participate in the Civic Council of Greater Kansas City's KC Tomorrow (2007-2008 Class). He was awarded Ingram Magazine's 40 Under 40 award, the Kansas City Business Journal's Class of 2015 NextGen Leaders award, and KC Business Magazine's Rising Star Award.

Angie Long


Start Date

Tenure

Tenure Rank

Aug 29, 2014

7.76

7.8%

Angie Knighton Long, Chief Investment Officer, has ultimate responsibilities for all investment-related activities at Palmer Square inclusive of approximately $9.5 billion in assets (as of 6/30/2019) and a platform that includes private funds, mutual funds, and separately managed accounts. Under Angie’s leadership, Palmer Square is also a well-known issuer and pioneer within the structured credit and CLO arena. Prior to joining Palmer Square, Angie worked for JPMorgan Chase & Co. in New York for 13 years. Angie held many senior roles including Deputy Head of North American Credit Trading, Head of High Yield Trading, and Head of Credit Derivatives Trading. Angie has been a trader of many products including high yield bonds, high yield credit derivatives, distressed debt, capital structure arbitrage, and structured credit. In addition, she worked with the Global Head of Credit Trading to help oversee risk management for the High Yield and High Grade credit trading books. Named a Managing Director at age 29, Angie is considered a pioneer in the Credit Derivatives industry and is credited with creating the HYDI (High Yield Debt Index), the first liquid credit trading index and predecessor to all of today’s indices (the Markit CDX). Angie received an AB degree in Economics from Princeton University and is a CFA ® charterholder. During her years at Princeton, Angie was a member of two National Championship Rugby Teams and was selected as an All-American in 1997. Angie also founded the Greater Kansas City Princeton Women’s Network (PWN) and is the Co-Chair for the Greater Kansas City Region’s Alumni Schools Committee effort for Princeton. Angie was also formerly on the Women In Leadership committee of Princeton University (WIL). Angie is also a member of the 100 Women in Finance.

Taylor Moore


Start Date

Tenure

Tenure Rank

Dec 01, 2019

2.5

2.5%

Taylor is a key member of the firm's structured creditinvesting team. Prior to joining Palmer Square, Taylor worked at JPMorgan Chase & Co. in New York and Delaware. Taylor was an integral part of the firm’s North American foreign exchange business serving as Associate Product Controller. In particular, Taylor played a key role in all financial operations and management of JPMorgan’s Forward and Spot foreign exchange trading desks. He began his career at JPMorgan as part of the firm’s Corporate Development Program, a two year selective leadership development program. Prior to JPMorgan Chase & Co., Taylor worked at Frontier Investment Bank, a boutique investment bank based out of Kansas City. Taylor received a BA in Economics from Cornell University. During his time at Cornell, Taylor was a member of four top ten NCAA Wrestling teams, and traveled to Beijing in 2008 to represent team USA in the FILA Junior World Championships. He is also a CFA® charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19