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Trending ETFs

Name

As of 12/10/2024

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

$11.28

$56.7 M

0.00%

1.87%

Vitals

YTD Return

20.6%

1 yr return

28.3%

3 Yr Avg Return

2.6%

5 Yr Avg Return

N/A

Net Assets

$56.7 M

Holdings in Top 10

48.0%

52 WEEK LOW AND HIGH

$11.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.87%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 13.22%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/10/2024

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

$11.28

$56.7 M

0.00%

1.87%

ACSMX - Profile

Distributions

  • YTD Total Return 20.6%
  • 3 Yr Annualized Total Return 2.6%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -1.32%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Advisors Capital Small/Mid Cap Fund
  • Fund Family Name
    Advisors Capital
  • Inception Date
    Mar 19, 2021
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Paul Broughton

Fund Description

Under normal circumstances, the Fund invests at least 80% of its assets (defined as net assets plus borrowing for investment purposes) in the securities of small- capitalization and mid-capitalization companies. The Fund defines small- and mid-capitalization companies as those with market capitalizations of less than $7 billion at the time of purchase. The Fund invests primarily in companies located in the United States, but may invest in foreign issuers. The Fund's investment advisor delegates execution of the Fund's investment strategy to Advisors Capital Management, LLC (the "Sub-Advisor").

The Sub-Advisor's philosophy is to invest long-term in what it believes are relatively attractively-valued, conservatively-structured, competitively-advantaged, dynamic companies with growing free cash flow and honest, competent leadership. These companies generate excess operating cash flow above capital expenditures, and have lower volatility in those cash flows relative to peers. Typically, companies are focused on one business and exhibit dominance within a specialized niche. The Sub-Advisor determines dominance by reviewing a company’s market share in its industry compared to peers as well as comparing the company’s profitability metrics relative to industry averages. Other factors such as brand recognition and unique business model can also play a role in dominance assessment. The Sub-Advisor believes that dominant companies typically have higher market share, exercise more pricing power, have better operating profit margins, and exhibit superior profitability metrics compared to peers over the full market cycle.

The Sub-Advisor's investment process is largely bottom up. Quantitative screening is used to identify both growth and value companies that meet the Sub-Advisor's criteria. The companies that pass quantitative screens are then reviewed using qualitative screens. Qualitative metrics are industry position, management team skill, and business strategy viability. Companies with negative attributes such as a high level of institutional ownership, multiple business segments, and inconsistent cash flows are typically avoided. Industry position primarily refers to market share of a company and market share rank relative to competitors, but could also refer to a unique business model not easily duplicated by competitors. The Sub-Advisor constructs the portfolio using a focused, relatively sector-neutral portfolio of approximately 30-45 names diversified across seven to ten sectors using statistical technique to avoid what it believes are over exposures to individual risk factors. The resulting portfolio is comprised of both growth and value companies.

The Sub-Advisor regularly reviews each of the companies in the portfolio to confirm that each company's stock continues to hold promise of future appreciation. The Sub-Advisor sells stocks that it no longer believes hold such promise. The Sub-Advisor strives to achieve an excess return over the CRSP US Small Cap Index with lower risk as measured by the downside capture ratio.

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ACSMX - Performance

Return Ranking - Trailing

Period ACSMX Return Category Return Low Category Return High Rank in Category (%)
YTD 20.6% -60.4% 86.4% 40.00%
1 Yr 28.3% -57.4% 88.1% 45.74%
3 Yr 2.6%* -15.0% 63.0% 36.59%
5 Yr N/A* -10.4% 48.0% N/A
10 Yr N/A* -3.9% 25.6% 99.50%

* Annualized

Return Ranking - Calendar

Period ACSMX Return Category Return Low Category Return High Rank in Category (%)
2023 22.4% -20.5% 54.6% 7.43%
2022 -28.6% -82.1% 32.2% 40.53%
2021 N/A -90.6% 300.1% N/A
2020 N/A -63.0% 127.9% N/A
2019 N/A -7.7% 42.9% N/A

Total Return Ranking - Trailing

Period ACSMX Return Category Return Low Category Return High Rank in Category (%)
YTD 20.6% -60.4% 86.4% 40.00%
1 Yr 28.3% -57.4% 88.1% 45.74%
3 Yr 2.6%* -15.0% 63.0% 36.59%
5 Yr N/A* -10.4% 48.0% N/A
10 Yr N/A* -3.9% 25.6% 99.75%

* Annualized

Total Return Ranking - Calendar

Period ACSMX Return Category Return Low Category Return High Rank in Category (%)
2023 22.4% -19.0% 136.8% 8.92%
2022 -28.6% -59.9% 44.3% 54.60%
2021 N/A -22.7% 411.9% N/A
2020 N/A 1.5% 150.8% N/A
2019 N/A 5.5% 55.3% N/A

NAV & Total Return History


ACSMX - Holdings

Concentration Analysis

ACSMX Category Low Category High ACSMX % Rank
Net Assets 56.7 M 209 K 34.3 B 90.74%
Number of Holdings 34 7 1226 95.56%
Net Assets in Top 10 34.3 M 53.8 K 3.02 B 84.26%
Weighting of Top 10 47.95% 7.5% 100.0% 6.12%

Top 10 Holdings

  1. PJT Partners Inc. - Class A 6.40%
  2. RBC Bearings, Inc. 5.53%
  3. Coastal Financial Corporation 5.32%
  4. Guidewire Software, Inc. 4.94%
  5. Owens Corning 4.71%
  6. Watsco, Inc. 4.40%
  7. Pool Corporation 4.37%
  8. Casey's General Stores, Inc. 4.31%
  9. Avantor, Inc. 4.01%
  10. Jones Lang LaSalle Incorporated 3.96%

Asset Allocation

Weighting Return Low Return High ACSMX % Rank
Stocks
99.14% 92.05% 107.62% 26.48%
Cash
1.03% 0.00% 28.78% 68.15%
Preferred Stocks
0.00% 0.00% 4.59% 24.81%
Other
0.00% -0.26% 6.70% 42.04%
Convertible Bonds
0.00% 0.00% 1.57% 16.67%
Bonds
0.00% 0.00% 2.40% 16.30%

Stock Sector Breakdown

Weighting Return Low Return High ACSMX % Rank
Financial Services
23.61% 0.00% 42.95% 1.48%
Industrials
19.62% 0.00% 36.64% 23.15%
Technology
16.35% 2.91% 75.51% 89.81%
Healthcare
14.93% 0.00% 47.90% 83.52%
Consumer Cyclical
10.20% 0.00% 24.04% 73.89%
Real Estate
5.94% 0.00% 15.31% 15.56%
Basic Materials
4.49% 0.00% 9.24% 15.93%
Communication Services
3.05% 0.00% 15.31% 33.15%
Consumer Defense
1.79% 0.00% 13.56% 86.30%
Utilities
0.00% 0.00% 5.57% 40.56%
Energy
0.00% 0.00% 55.49% 78.33%

Stock Geographic Breakdown

Weighting Return Low Return High ACSMX % Rank
US
99.14% 17.30% 107.62% 22.22%
Non US
0.00% 0.00% 77.12% 34.07%

ACSMX - Expenses

Operational Fees

ACSMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.87% 0.05% 23.20% 15.03%
Management Fee 1.62% 0.05% 1.62% 100.00%
12b-1 Fee 0.25% 0.00% 1.00% 33.90%
Administrative Fee 0.05% 0.01% 0.40% 26.70%

Sales Fees

ACSMX 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% 5.00% N/A

Trading Fees

ACSMX 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.

ACSMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 13.22% 3.00% 264.00% 5.71%

ACSMX - Distributions

Dividend Yield Analysis

ACSMX Category Low Category High ACSMX % Rank
Dividend Yield 0.00% 0.00% 6.91% 28.52%

Dividend Distribution Analysis

ACSMX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Quarterly Annual

Net Income Ratio Analysis

ACSMX Category Low Category High ACSMX % Rank
Net Income Ratio -1.32% -2.47% 1.10% 87.64%

Capital Gain Distribution Analysis

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

Distributions History

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ACSMX - Fund Manager Analysis

Managers

Paul Broughton


Start Date

Tenure

Tenure Rank

Feb 01, 2021

1.33

1.3%

Paul Broughton is an equity portfolio manager with ACM. Prior to joining the firm, he was a co-manager of the Salient Dividend Signal Strategy® portfolios. Prior to joining Salient in 2010, Paul held various roles in fixed income portfolio management and trading with Pacific Capital Bancorp and American Century Investments. He began his career with State Street in fund accounting. Paul is a CFA® charterholder and holds a Bachelor of Science in accounting and business administration from the University of Kansas

Randall Coleman


Start Date

Tenure

Tenure Rank

Feb 01, 2021

1.33

1.3%

Randall Coleman is a portfolio manager focused in international and small/mid cap securities. Before joining ACM, Randall was the co-manager of the Salient Dividend Signal Strategy® portfolios. Previously, Randall was a portfolio manager and analyst for Berkeley Capital Management. In 2008, Forward Management acquired Berkeley, and subsequently in 2015, Salient acquired Forward. Before joining Berkeley in 2001, Randall was a portfolio manager at London Pacific Advisors, specializing in small and mid-cap domestic equities. He has worked as a computer programmer and as a lobbyist aid in California state government. Randall is a CFA® charterholder and holds a Bachelor of Arts from the University of California, Davis as well as an MBA from Thunderbird, the American Graduate School of International Management.

David Ruff


Start Date

Tenure

Tenure Rank

Feb 01, 2021

1.33

1.3%

Prior to joining ACM as a Portfolio Manager, David Ruff was a managing director and senior portfolio manager at Salient where he co-managed the Dividend Signal Strategy® portfolios. Previously, David was chief investment officer for Berkeley Capital Management. In 2008, Forward Management acquired Berkeley, and subsequently in 2015, Salient acquired Forward. Prior to joining Berkeley in 2001, David was chief investment officer of London Pacific Advisors where he chaired the LPA Investment Policy Committee. From 1998 through 2001, David served as president and director for the Security Analysts of Sacramento. David graduated magna cum laude from Iowa State University with a Bachelor of Science in finance. David is a CFA® charterholder and currently a member of CFA Institute and the Security Analysts of San Francisco.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.44 9.17 5.25