Continue to site >
Trending ETFs

Name

As of 06/11/2024

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

TACTICAL INCOME FUND

BNDAX | Fund

$9.23

$70 M

4.82%

$0.44

1.09%

Vitals

YTD Return

1.9%

1 yr return

7.6%

3 Yr Avg Return

1.0%

5 Yr Avg Return

2.4%

Net Assets

$70 M

Holdings in Top 10

100.1%

52 WEEK LOW AND HIGH

$9.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.09%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 250.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/11/2024

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

TACTICAL INCOME FUND

BNDAX | Fund

$9.23

$70 M

4.82%

$0.44

1.09%

BNDAX - Profile

Distributions

  • YTD Total Return 1.9%
  • 3 Yr Annualized Total Return 1.0%
  • 5 Yr Annualized Total Return 2.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.98%
DIVIDENDS
  • Dividend Yield 4.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    TACTICAL INCOME FUND
  • Fund Family Name
    Meeder Funds
  • Inception Date
    Oct 31, 2016
  • Shares Outstanding
    N/A
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Robert Meeder

Fund Description

The Fund, under normal market conditions, invests at least 80% of its net assets in fixed income securities, principally mutual and exchange traded funds that invest in domestic and foreign fixed income securities. Fixed income securities utilized by the Fund include bonds and other instruments issued by the U.S. government, municipal governments, foreign governments, government agencies or instrumentalities, U.S. and foreign corporations, including mortgage and asset-backed securities, inflation protected securities, convertible bonds, structured instruments, commercial paper, certificates of deposit, money market funds and repurchase agreements. The Fund may purchase or sell securities on a when-issued, delayed delivery or forward commitment basis.

The Fund may invest in fixed income securities of any duration and may utilize derivative investments that provide exposure to fixed income securities. Meeder Asset Management Inc. (the “Adviser”) utilizes a quantitative model to assist in managing the duration of the Fund’s investment portfolio. Duration is a measure of a debt instrument’s interest-rate sensitivity. The longer a debt instrument’s duration, the more sensitive the instrument is to shifts in interest rates. As a general rule, a 1% rise in interest rates means a 1% fall in value for every year of duration. For example, if rates were to rise 1%, a bond or debt instrument with a 5-year average duration would likely lose approximately 5% of its value. Under normal circumstances, the average portfolio duration of the fixed income securities held by the Fund will not exceed ten years. The Fund may also have a negative duration. Average portfolio duration will change depending on the Adviser’s interest rate expectations and outlook on changing market, economic, and political conditions.

The Fund may invest in fixed income securities of any credit quality, including below-investment grade securities (“high-yield” or “junk bonds”), including distressed debt. The Fund may also invest in non-U.S. denominated securities (“foreign securities”), including securities from issuers in countries whose economies are less developed (“emerging markets”). Foreign securities include securities issued by non-U.S. denominated governments, foreign government agencies, and corporations located in foreign or emerging markets.

The Fund may invest in derivative instruments, such as options, futures contracts, foreign forward currency exchange contracts, interest rate futures or swaps, and credit default swaps. When utilizing derivatives, the Fund may purchase or sell long or short positions or create leverage. Derivative transactions may be used to enhance the Fund’s returns or liquidity, to obtain efficient exposure to certain market segments, and to adjust the duration of the portfolio.

The Fund may purchase shares of fixed income mutual funds, exchange traded funds, closed-end funds and unit investment trusts to provide efficient and diversified exposure to domestic, foreign or emerging market segments, including inverse and leveraged ETFs and affiliated money market funds. The Fund may also invest up to 20% of its net assets in equity securities, including preferred stock, convertible securities, common stocks and real estate investment trusts (“REITs”).

The Adviser employs a tactical investment strategy with a flexible asset allocation structure. The Fund can and will adjust its allocation of investments in response to changing trends in various market segments. The Fund will invest in specific fixed income market segments when the quantitative models signal a favorable market trend in combination with the Adviser’s own assessment of economic and market conditions to create an optimal allocation of the Fund’s assets. The Adviser may shift the Fund’s investments between fixed income market segments across the credit quality spectrum, including U.S. government securities, high yield securities, and cash or its equivalents.

Investment selection is primarily driven by proprietary quantitative models that evaluate macroeconomic and segment-specific technical factors to identify market trends and measure the relative risks and opportunities of each fixed income market segment. When selecting fixed income securities for the Fund, the Adviser uses a combination of traditional due diligence, and performance analysis to identify investments for the Fund’s portfolio.

Other than as set forth in the SAI, the investment policies and limitations of the Fund are not fundamental and may be changed by the Board of Trustees of the Meeder Funds without shareholder approval.

Read More

BNDAX - Performance

Return Ranking - Trailing

Period BNDAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -9.3% 13.2% 56.28%
1 Yr 7.6% -10.3% 30.3% 39.94%
3 Yr 1.0%* -18.1% 16.3% 28.16%
5 Yr 2.4%* -13.8% 14.7% 35.98%
10 Yr N/A* -13.8% 6.4% 73.90%

* Annualized

Return Ranking - Calendar

Period BNDAX Return Category Return Low Category Return High Rank in Category (%)
2023 3.2% -12.0% 15.7% 40.48%
2022 -7.3% -31.8% 18.4% 21.05%
2021 -3.5% -26.6% 25.7% 82.72%
2020 5.5% -49.2% 18.7% 13.19%
2019 4.8% -35.1% 15.3% 48.03%

Total Return Ranking - Trailing

Period BNDAX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -9.3% 13.2% 56.28%
1 Yr 7.6% -10.3% 30.3% 39.94%
3 Yr 1.0%* -18.1% 16.3% 28.16%
5 Yr 2.4%* -13.8% 14.7% 35.98%
10 Yr N/A* -13.8% 6.4% 71.70%

* Annualized

Total Return Ranking - Calendar

Period BNDAX Return Category Return Low Category Return High Rank in Category (%)
2023 7.5% -7.0% 22.2% 56.50%
2022 -5.0% -31.8% 21.1% 25.39%
2021 -1.7% -13.5% 49.9% 90.72%
2020 8.4% -28.6% 24.1% 18.40%
2019 6.7% -4.8% 19.1% 70.92%

NAV & Total Return History


BNDAX - Holdings

Concentration Analysis

BNDAX Category Low Category High BNDAX % Rank
Net Assets 70 M 2.53 M 143 B 89.10%
Number of Holdings 9 2 9868 95.27%
Net Assets in Top 10 70.4 M -204 M 70.2 B 69.51%
Weighting of Top 10 100.11% 5.1% 271.9% 3.69%

Top 10 Holdings

  1. Institutional Prime 26.36%
  2. PIMCO Low Duration 15.18%
  3. Fidelity Advisor 12.80%
  4. BrandywineGLOBAL 12.67%
  5. iShares JP Morgan 12.29%
  6. Fidelity Total Bond 10.21%
  7. BBH Limited Duration 7.33%
  8. Diamond Hill Short 3.26%
  9. Baird Core Plus Bond 0.00%

Asset Allocation

Weighting Return Low Return High BNDAX % Rank
Cash
26.36% -94.66% 100.00% 5.79%
Stocks
22.89% -4.18% 99.84% 11.89%
Convertible Bonds
1.35% 0.00% 33.50% 48.04%
Preferred Stocks
0.00% 0.00% 28.28% 77.74%
Other
0.00% -66.66% 153.75% 85.21%
Bonds
0.00% 0.00% 215.76% 96.49%

Stock Sector Breakdown

Weighting Return Low Return High BNDAX % Rank
Energy
74.11% 0.00% 100.00% 17.75%
Communication Services
25.89% 0.00% 100.00% 9.30%
Utilities
0.00% 0.00% 100.00% 75.21%
Technology
0.00% 0.00% 28.30% 69.58%
Real Estate
0.00% 0.00% 100.00% 72.68%
Industrials
0.00% 0.00% 100.00% 78.87%
Healthcare
0.00% 0.00% 18.60% 70.70%
Financial Services
0.00% 0.00% 100.00% 79.15%
Consumer Defense
0.00% 0.00% 99.97% 70.70%
Consumer Cyclical
0.00% 0.00% 89.95% 76.34%
Basic Materials
0.00% 0.00% 100.00% 73.24%

Stock Geographic Breakdown

Weighting Return Low Return High BNDAX % Rank
US
22.89% -4.11% 99.84% 11.89%
Non US
0.00% -0.07% 17.73% 65.70%

BNDAX - Expenses

Operational Fees

BNDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.09% 0.03% 20.67% 53.95%
Management Fee 0.40% 0.00% 2.29% 11.95%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.00% 0.70% 49.07%

Sales Fees

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

Trading Fees

BNDAX 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.

BNDAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 250.00% 0.00% 632.00% 94.11%

BNDAX - Distributions

Dividend Yield Analysis

BNDAX Category Low Category High BNDAX % Rank
Dividend Yield 4.82% 0.00% 23.30% 67.07%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

BNDAX Category Low Category High BNDAX % Rank
Net Income Ratio 1.98% -1.55% 11.51% 79.57%

Capital Gain Distribution Analysis

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

Distributions History

View More +

BNDAX - Fund Manager Analysis

Managers

Robert Meeder


Start Date

Tenure

Tenure Rank

Jun 30, 2011

10.93

10.9%

Robert S. Meeder, Jr. is President and CEO of Meeder Investment Management and brings over 30 years of investment industry experience. Mr. Meeder has been President of Meeder Investment Management, Inc. since 1991 and has been a member of the team managing the Funds and Portfolios since 1992. In addition to his executive duties, Mr. Meeder is involved in the development of investment policy and client relationships for Meeder Investment Management, Inc.

Amisha Kaus


Start Date

Tenure

Tenure Rank

Nov 30, 2015

6.5

6.5%

Amisha Kaus. Ms. Kaus is a Portfolio Manager and has been associated with the Meeder Asset Management, Inc. since November, 2015. Ms. Kaus brings 13 years of investment industry experience to the Meeder Asset Management, Inc. , with previous experience as an investment analyst with Allegheny Financial Group from 2007 to 2015. Ms. Kaus has been a member of the team managing the Funds since November 2015.

Joseph Bell


Start Date

Tenure

Tenure Rank

Mar 31, 2018

4.17

4.2%

Joseph Bell, CFA, CMT. Mr. Bell is a Portfolio Manager and has been associated with the Adviser since March 2018, when he joined the team managing the Funds. Mr. Bell was previously a Senior Market Strategist and a Senior Equity Analyst at Schaeffer’s Investment Research.

Yuntaek Pae


Start Date

Tenure

Tenure Rank

Apr 16, 2021

1.12

1.1%

Yuntaek Pae, PhD, CFA. Dr. Pae joined Meeder Asset Management as the Director of Research in April 2021. He worked for Allianz Global Investors in South Korea as an equity analyst between 2005 and 2007. He earned a PhD degree from Illinois Institute of Technology in 2010.

Donald McConnell


Start Date

Tenure

Tenure Rank

Feb 28, 2022

0.25

0.3%

Donald McConnell. Mr. McDonnell is a Portfolio Manager and has been associated with Meeder Asset Management, Inc. since February 2022, when he joined the team managing the Funds. Mr. McConnell was previously a Senior Portfolio Manager with BMO Global Asset Management from 2013 – 2022.

Tenure Analysis

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