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Trending ETFs

Name

As of 06/17/2024

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

$10.85

$191 M

0.93%

$0.10

0.78%

Vitals

YTD Return

-4.1%

1 yr return

1.3%

3 Yr Avg Return

-16.3%

5 Yr Avg Return

1.1%

Net Assets

$191 M

Holdings in Top 10

15.2%

52 WEEK LOW AND HIGH

$10.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.78%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 52.00%

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$2,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/17/2024

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

$10.85

$191 M

0.93%

$0.10

0.78%

BRSIX - Profile

Distributions

  • YTD Total Return -4.1%
  • 3 Yr Annualized Total Return -16.3%
  • 5 Yr Annualized Total Return 1.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.83%
DIVIDENDS
  • Dividend Yield 0.9%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Ultra-Small Company Market Fund
  • Fund Family Name
    Bridgeway
  • Inception Date
    Aug 06, 1999
  • Shares Outstanding
    N/A
  • Share Class
    N
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Montgomery

Fund Description

The Fund aims to achieve its objective by approximating the total return of the CRSP Cap‑Based Portfolio 10 Index (the “Index”) published by the Center for Research in Security Prices, LLC (“CRSP”), an affiliate of the University of Chicago over longer time periods. Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in ultra-small company stocks based on company size at the time of purchase. For purposes of the Fund’s investments, “ultra-small companies” are defined as those: (i) companies that have a market capitalization the size of the smallest 10% of companies listed on the New York Stock Exchange; or (ii) companies with a capitalization that falls within the range of capitalization of companies included in the Index as defined by CRSP. A majority of the stocks in the Fund are listed on Nasdaq. On June 30, 2023, the stocks in this group generally had a market capitalization of less than $234 million. Bridgeway Capital Management, LLC (the “Adviser”) invests in a representative sample of the companies included in the Index using a statistical approach. However, the Adviser also may invest in companies that are not included in the Index.
The Adviser’s investment process incorporates material environmental, social, and governance (“ESG”) information, when available, as a consideration in the ongoing assessment of potential portfolio securities. The Adviser uses ESG research and/or ratings information provided by third parties in performing this analysis and considering ESG risks. As with any consideration used in assessing portfolio securities, the Adviser may, at times, utilize ESG information to increase the weighting of an issuer with a good ESG record or decrease the weighting of an issuer with a poor ESG record. However, as ESG information is just one investment consideration, ESG considerations are not solely determinative in any investment decision made by the Adviser. ESG information for ultra-small companies may be limited, although the Adviser’s investment process incorporates this information when available.
Although the Fund seeks investments across a number of sectors, from time to time, based on portfolio positioning to reflect its benchmark, the Fund may have significant positions in particular sectors.
The Adviser also seeks to minimize the distribution of capital gains, within the constraints of the investment objective and ultra-small company focus, by offsetting capital gains with capital losses. By paying close attention to trading, the Adviser seeks to conduct such tax management without detriment to the overall Fund return.
The Fund may purchase stock market index futures in order to equitize cash.
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BRSIX - Performance

Return Ranking - Trailing

Period BRSIX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.1% -13.7% 10.3% 77.85%
1 Yr 1.3% -6.4% 29.2% 94.98%
3 Yr -16.3%* -16.5% 61.9% 100.00%
5 Yr 1.1%* -4.0% 48.7% 99.23%
10 Yr 2.1%* -4.1% 25.7% 97.37%

* Annualized

Return Ranking - Calendar

Period BRSIX Return Category Return Low Category Return High Rank in Category (%)
2023 10.3% -6.0% 33.6% 58.58%
2022 -25.0% -36.7% 212.9% 89.49%
2021 -3.0% -62.0% 147.6% 94.22%
2020 21.3% -24.8% 31.3% 1.73%
2019 13.8% -21.7% 34.0% 80.57%

Total Return Ranking - Trailing

Period BRSIX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.1% -13.7% 10.3% 77.85%
1 Yr 1.3% -6.4% 29.2% 94.98%
3 Yr -16.3%* -16.5% 61.9% 100.00%
5 Yr 1.1%* -4.0% 48.7% 99.23%
10 Yr 2.1%* -4.1% 25.7% 97.37%

* Annualized

Total Return Ranking - Calendar

Period BRSIX Return Category Return Low Category Return High Rank in Category (%)
2023 11.4% 1.8% 35.4% 80.32%
2022 -23.4% -36.7% 250.0% 99.07%
2021 -3.0% -3.0% 157.9% 100.00%
2020 25.5% -13.5% 33.4% 0.99%
2019 15.3% -1.5% 34.3% 96.63%

NAV & Total Return History


BRSIX - Holdings

Concentration Analysis

BRSIX Category Low Category High BRSIX % Rank
Net Assets 191 M 2.13 M 52.9 B 62.79%
Number of Holdings 597 10 1578 7.76%
Net Assets in Top 10 29.5 M 180 K 3.25 B 70.32%
Weighting of Top 10 15.24% 5.0% 92.1% 64.99%

Top 10 Holdings

  1. DREY INST PREF GOV MM-M 9.27%
  2. Longboard Pharmaceuticals Inc 0.78%
  3. CompX International Inc 0.74%
  4. PepGen Inc 0.73%
  5. Fidelity Government Portfolio 0.73%
  6. Praxis Precision Medicines Inc 0.64%
  7. Annexon Inc 0.61%
  8. Natural Gas Services Group Inc 0.58%
  9. Applied Therapeutics Inc 0.58%
  10. CSP Inc 0.57%

Asset Allocation

Weighting Return Low Return High BRSIX % Rank
Stocks
98.80% 2.46% 104.11% 39.50%
Cash
9.99% 0.00% 41.08% 7.31%
Preferred Stocks
0.00% 0.00% 2.10% 51.83%
Other
0.00% -3.30% 39.58% 64.84%
Convertible Bonds
0.00% 0.00% 2.63% 49.54%
Bonds
0.00% 0.00% 78.84% 50.68%

Stock Sector Breakdown

Weighting Return Low Return High BRSIX % Rank
Healthcare
25.76% 0.00% 25.76% 0.23%
Financial Services
21.43% 0.00% 35.71% 65.89%
Industrials
12.32% 0.65% 48.61% 92.52%
Energy
10.04% 0.00% 29.42% 26.64%
Consumer Cyclical
8.70% 0.00% 51.62% 77.80%
Technology
7.58% 0.00% 34.03% 66.82%
Consumer Defense
4.77% 0.00% 13.22% 33.64%
Communication Services
3.40% 0.00% 24.90% 28.50%
Basic Materials
2.96% 0.00% 67.30% 86.45%
Real Estate
2.03% 0.00% 44.41% 85.98%
Utilities
0.99% 0.00% 13.86% 74.77%

Stock Geographic Breakdown

Weighting Return Low Return High BRSIX % Rank
US
98.80% 2.46% 104.11% 32.19%
Non US
0.00% 0.00% 76.26% 63.01%

BRSIX - Expenses

Operational Fees

BRSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.78% 0.05% 37.04% 87.44%
Management Fee 0.50% 0.00% 1.50% 7.78%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.35% N/A

Sales Fees

BRSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

BRSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 0.50% 2.00% 27.59%

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.

BRSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 52.00% 7.00% 252.00% 48.95%

BRSIX - Distributions

Dividend Yield Analysis

BRSIX Category Low Category High BRSIX % Rank
Dividend Yield 0.93% 0.00% 14.14% 74.43%

Dividend Distribution Analysis

BRSIX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Annual

Net Income Ratio Analysis

BRSIX Category Low Category High BRSIX % Rank
Net Income Ratio 0.83% -1.43% 4.13% 24.30%

Capital Gain Distribution Analysis

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

Distributions History

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BRSIX - Fund Manager Analysis

Managers

John Montgomery


Start Date

Tenure

Tenure Rank

Jul 31, 1997

24.85

24.9%

John, CIO and President,founded Bridgeway in 1993.He worked with computer modeling and quantitative methods as a research engineer at MIT in the late 1970s. Later, as a student at Harvard, he investigated methods to apply modeling to portfolio management. He began applying these methods to his investments in 1985. Over the next 6 years, this style proved more successful than even John had expected. He left his full-time position in the transportation industry at the end of 1991 to perform full-time research on his models, study the mutual fund industry, and write a business plan for Bridgeway.

Elena Khoziaeva


Start Date

Tenure

Tenure Rank

Oct 28, 2005

16.6

16.6%

Elena Khoziaeva, CFA, is a portfolio manager and began working at Bridgeway in 1998. Her responsibilities include portfolio management, investment research, and statistical modeling. Elena earned a Bachelor of Economic Sciences from Belarussian State Economic University in Minsk and graduated with highest honors from the University of Houston with an MBA in Accounting.

Michael Whipple


Start Date

Tenure

Tenure Rank

Oct 28, 2005

16.6

16.6%

Mike Whipple, CFA, FRM, is a portfolio manager and began working for Bridgeway in 2002. His responsibilities include portfolio management, investment research, and statistical modeling. He holds a BS in Accountancy and Finance from Miami University in Ohio. Michael worked in public accounting with a focus in auditing from 1993 to 2000 before attending the University of Chicago Booth School of Business from 2000 to 2002, where he earned his MBA.

Christine Wang


Start Date

Tenure

Tenure Rank

Oct 31, 2010

11.59

11.6%

Christine L. Wang, CFA, CPA is a portfolio manager and began working at Bridgeway in 2008. Her responsibilities include portfolio management, investment research, and statistical modeling. Christine holds a MS in Accounting from the University of Virginia and BA in Sociology and Managerial Studies from Rice University. Christine is a Certified Public Accountant licensed in the state of Texas. Prior to joining Bridgeway, Christine worked in public accounting with a focus on energy trading and risk management from 2004 to 2008.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 37.45 8.2 3.58