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Trending ETFs

Name

As of 06/21/2024

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

AFRICA FUND

CAFRX | Fund

$7.96

$2.92 M

2.90%

$0.23

4.41%

Vitals

YTD Return

8.9%

1 yr return

16.6%

3 Yr Avg Return

0.1%

5 Yr Avg Return

0.8%

Net Assets

$2.92 M

Holdings in Top 10

44.4%

52 WEEK LOW AND HIGH

$8.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 4.41%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 11.00%

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$200

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/21/2024

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

AFRICA FUND

CAFRX | Fund

$7.96

$2.92 M

2.90%

$0.23

4.41%

CAFRX - Profile

Distributions

  • YTD Total Return 8.9%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.56%
DIVIDENDS
  • Dividend Yield 2.9%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    AFRICA FUND
  • Fund Family Name
    Commonwealth Intl Series Tr
  • Inception Date
    Nov 07, 2011
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Wesley Yuhnke

Fund Description

Under normal market conditions, the Africa Fund invests at least 80% of its net assets in the securities of, and depositary receipts (including American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), and European Depositary Receipts (“EDRs”)) represented by, African issuers that are tied economically to Africa. The Africa Fund considers an issuer to be an African issuer and thus tied economically to Africa if: (1) the issuer is organized under the laws of a country in Africa; (2) the securities of the issuer are listed on a stock exchange(s) in a country in Africa, regardless of the country in which the issuer is organized; (3) the issuer derives 50% or more of its total revenue from goods and/or services produced or sold in countries in Africa; or (4) the securities are issued or guaranteed by government entities of African countries. The Africa Fund invests primarily in debt and equity securities of African issuers. The Africa Fund may also consider an issuer to be an African issuer if it issues securities denominated in a local currency of a country located on the continent of Africa. The Africa Fund’s equity investments may include common and preferred stock and securities convertible into common stock. The Africa Fund’s investments may include issuers of any market capitalization. In addition, the Africa Fund may invest in ADRs, which are dollar-denominated depositary receipts that, typically, are issued by a United States bank or trust company and represent the deposit with that bank or trust company of a security of a foreign issuer. Generally, ADRs are designed for trading on U.S. securities exchanges or other markets. The Fund may also invest in EDRs, GDRs and in similar instruments representing foreign-traded depositary interests in securities of foreign companies. EDRs are receipts issued by a European financial institution evidencing arrangements similar to ADRs. EDRs are generally designed for use in European securities markets. GDRs are receipts for foreign-based corporations that are traded in capital markets around the world. These depositary receipts may be sponsored or unsponsored. The depositary receipts in which the Fund invests may be U.S. dollar-denominated or denominated in a foreign currency.

The Africa Fund may emphasize investments in the Sub-Saharan countries of Africa, although the Africa Fund may invest in securities of issuers located in any country in Africa. The Africa Fund may invest in shares of other investment companies, including open-end and closed-end funds and exchange-

traded funds (“ETFs”). The Africa Fund may invest in emerging market countries in Africa as well as those emerging market countries that are considered “frontier countries” - meaning that they have less developed capital markets and economies than typically seen in traditional emerging markets. The Africa Fund may invest in companies that focus on natural resources production, refining and development.

The Africa Fund’s investments in debt securities may include obligations of governmental issuers, commercial paper and other companies regardless of credit quality and regardless of whether such securities are rated or unrated by nationally recognized statistical rating organizations (“NRSROs”). The determination as to whether to make a particular investment in debt securities is based on FCA Corp’s analysis of the risk of the debt security versus the price and return of such debt security. The Fund’s debt investments may include securities that are viewed as being of a credit quality that is below investment-grade (i.e., “junk bonds”) based on ratings established by NRSROs regardless of whether such debt security is rated or not.

The Africa Fund may also engage in borrowing for cash management purposes. The Africa Fund may borrow to the maximum extent permitted by applicable law, which generally means that the Africa Fund may borrow up to one-third of its total assets (including the amount borrowed).

FCA Corp has long-term investment goals and its process seeks to identify potential portfolio investments that can be held over an indefinite time horizon. FCA Corp adjusts portfolio holdings in light of prevailing market conditions and other factors, including, among other things, economic, political, or market events, changes in relative valuations (to both a company’s growth prospects and to other issuers), and liquidity requirements. In selecting investments for the Africa Fund, FCA Corp will assess factors it deems relevant and applicable under the particular circumstances, including, among others:

Potential for capital appreciation (to both a company’s growth prospects and to other issuers);
Earnings growth potential and/or sustainability;
Price of security relative to historical and/or future cash flow;
Sustainable franchise value;
Price of a security relative to price of underlying stock, if a convertible security;
Yield on security relative to yield of other fixed-income securities;
Interest or dividend income;
Call and/or put features;
Price of a security relative to price of other comparable securities;
Size of issue; and
Impact of security on diversification of the portfolio.

FCA Corp will also seek to sell a security when it believes its price is unlikely to appreciate longer term, other comparable investments offer better opportunities for the Africa Fund, or in the course of adjusting the Africa Fund’s emphasis(es) on a given region(s) or sector(s). The Africa Fund generally invests in equity securities with the view to hold them long-term and debt securities to hold to maturity.

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CAFRX - Performance

Return Ranking - Trailing

Period CAFRX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.9% -14.9% 32.5% 12.20%
1 Yr 16.6% -15.1% 90.9% 28.05%
3 Yr 0.1%* -31.0% 28.4% 52.44%
5 Yr 0.8%* -18.7% 16.3% 77.22%
10 Yr -1.5%* -10.0% 10.6% 84.13%

* Annualized

Return Ranking - Calendar

Period CAFRX Return Category Return Low Category Return High Rank in Category (%)
2023 -5.4% -15.1% 61.2% 95.12%
2022 -8.0% -84.3% 99.1% 23.17%
2021 12.9% -29.9% 283.0% 46.25%
2020 -11.1% -50.2% 41.8% 89.87%
2019 1.9% -19.5% 46.8% 89.87%

Total Return Ranking - Trailing

Period CAFRX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.9% -14.9% 32.5% 12.20%
1 Yr 16.6% -15.1% 90.9% 28.05%
3 Yr 0.1%* -31.0% 28.4% 52.44%
5 Yr 0.8%* -18.7% 16.3% 77.22%
10 Yr -1.5%* -10.0% 10.6% 84.13%

* Annualized

Total Return Ranking - Calendar

Period CAFRX Return Category Return Low Category Return High Rank in Category (%)
2023 -2.4% -12.6% 64.7% 93.90%
2022 -7.1% -83.7% 105.8% 36.59%
2021 15.1% -27.5% 283.0% 45.00%
2020 -9.0% -50.2% 43.0% 91.14%
2019 4.7% -17.8% 50.2% 92.41%

NAV & Total Return History


CAFRX - Holdings

Concentration Analysis

CAFRX Category Low Category High CAFRX % Rank
Net Assets 2.92 M 2.92 M 7.08 B 100.00%
Number of Holdings 43 6 873 64.63%
Net Assets in Top 10 1.34 M 1.34 M 2.87 B 100.00%
Weighting of Top 10 44.39% 10.1% 124.7% 81.71%

Top 10 Holdings

  1. Capitec Bank Holdings Ltd. 10.55%
  2. Naspers Ltd., N Shares 5.76%
  3. Shoprite Holdings Ltd. 4.38%
  4. Gold Fields Ltd. 4.01%
  5. Bid Corp. Ltd. 3.73%
  6. Grindrod Ltd. 3.44%
  7. Standard Bank Group Ltd. 3.28%
  8. Bidvest Group Ltd. 3.26%
  9. MTN Group Ltd. 3.06%
  10. Discovery Ltd. 2.93%

Asset Allocation

Weighting Return Low Return High CAFRX % Rank
Stocks
96.10% 49.47% 100.11% 79.27%
Bonds
2.80% 0.00% 14.24% 2.44%
Cash
1.10% 0.00% 24.69% 47.56%
Preferred Stocks
0.00% 0.00% 29.20% 82.93%
Other
0.00% -7.90% 31.19% 89.02%
Convertible Bonds
0.00% 0.00% 0.30% 79.27%

Stock Sector Breakdown

Weighting Return Low Return High CAFRX % Rank
Financial Services
34.00% 0.00% 64.45% 27.16%
Basic Materials
23.14% 0.00% 50.50% 9.88%
Communication Services
10.24% 0.00% 23.24% 18.52%
Industrials
9.85% 0.00% 39.81% 64.20%
Consumer Cyclical
7.36% 0.00% 24.14% 48.15%
Consumer Defense
6.52% 0.00% 28.14% 33.33%
Healthcare
3.62% 0.00% 37.68% 49.38%
Technology
2.03% 0.00% 39.90% 60.49%
Real Estate
1.80% 0.00% 30.80% 56.79%
Energy
1.36% 0.00% 40.11% 72.84%
Utilities
0.08% 0.00% 29.58% 80.25%

Stock Geographic Breakdown

Weighting Return Low Return High CAFRX % Rank
Non US
73.20% 0.00% 100.06% 87.80%
US
22.90% 0.00% 99.38% 12.20%

Bond Sector Breakdown

Weighting Return Low Return High CAFRX % Rank
Cash & Equivalents
0.72% 0.00% 100.00% 48.78%
Derivative
0.00% -0.01% 38.18% 91.46%
Securitized
0.00% 0.00% 0.00% 79.27%
Corporate
0.00% 0.00% 44.08% 79.27%
Municipal
0.00% 0.00% 0.00% 79.27%
Government
0.00% 0.00% 19.79% 79.27%

Bond Geographic Breakdown

Weighting Return Low Return High CAFRX % Rank
US
2.80% 0.00% 14.24% 2.44%
Non US
0.00% 0.00% 0.74% 79.27%

CAFRX - Expenses

Operational Fees

CAFRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 4.41% 0.01% 4.41% 1.23%
Management Fee 0.75% 0.00% 1.10% 74.39%
12b-1 Fee 0.25% 0.00% 1.00% 72.73%
Administrative Fee N/A 0.08% 0.15% N/A

Sales Fees

CAFRX 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% 1.00% N/A

Trading Fees

CAFRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 2.00% 2.00% 100.00%

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.

CAFRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 11.00% 4.00% 217.50% 27.40%

CAFRX - Distributions

Dividend Yield Analysis

CAFRX Category Low Category High CAFRX % Rank
Dividend Yield 2.90% 0.00% 6.29% 34.15%

Dividend Distribution Analysis

CAFRX Category Low Category High Category Mod
Dividend Distribution Frequency Annual SemiAnnual Quarterly SemiAnnual

Net Income Ratio Analysis

CAFRX Category Low Category High CAFRX % Rank
Net Income Ratio 1.56% -4.11% 4.93% 63.41%

Capital Gain Distribution Analysis

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

Distributions History

View More +

CAFRX - Fund Manager Analysis

Managers

Wesley Yuhnke


Start Date

Tenure

Tenure Rank

Nov 07, 2011

10.57

10.6%

Yuhnke currently is an assistant portfolio manager and investment operations manager with FCA Corp, which he joined in May 2002. He was appointed assistant portfolio manager in August 2002. Prior to joining FCA Corp, he attended Stephen F. Austin State University where he received his BBA in Finance. While there he was the recipient of the A.G. Edwards Portfolio Management Award. Mr. Yuhnke earned his MBA with emphasis in Finance from Texas Tech University. He currently serves in a dual role as an Assistant Portfolio Manager to the Funds and Chief Investment Officer of FCA Corp.

Robert Scharar


Start Date

Tenure

Tenure Rank

Nov 07, 2011

10.57

10.6%

Scharar is a president and director of FCA Corporation, the firm he established in 1983. He co-founded its predecessor, First Commonwealth Associates in 1975. Previously, Scharar was an accounting professor at Bentley and Nichols Colleges, an officer of the United States Trust Company, and a tax specialist at Coopers & Lybrand. He is a member of the Florida and Massachusetts Bars. Scharar holds the Certified Public Accountant designation. Mr. Scharar is a director and past president of the American Association of Attorney-CPAs. He is a director, manager, and/or officer of the following entities: Blantyre Hotels, Ltd. (Malawi), Africap, LLC, NICO Holdings, Ltd. (Malawi), First Commonwealth Holdings Corporation, First Commonwealth Mortgage Trust, Holly Mortgage Trust, Ivy Realty Trust, Nashville Properties, Inc., subsidiary companies at some of the above, and other closely held FCA advised entities and non-FCA related entities. He received his AA degree from Polk Community College in 1968 and his BS in Accounting from the University of Florida in 1970. He received his MBA and JD from Northeastern University in 1971 and 1974, respectively; and an LLM in Taxation from Boston University Law School in 1979.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 31.8 8.72 10.64