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Trending ETFs

Name

As of 06/14/2024

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

$20.18

$68.6 M

0.09%

$0.02

1.81%

Vitals

YTD Return

23.2%

1 yr return

30.1%

3 Yr Avg Return

29.0%

5 Yr Avg Return

9.1%

Net Assets

$68.6 M

Holdings in Top 10

52.9%

52 WEEK LOW AND HIGH

$20.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.81%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 230.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

$100,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/14/2024

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

$20.18

$68.6 M

0.09%

$0.02

1.81%

CPIEX - Profile

Distributions

  • YTD Total Return 23.2%
  • 3 Yr Annualized Total Return 29.0%
  • 5 Yr Annualized Total Return 9.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.64%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Counterpoint Tactical Equity Fund
  • Fund Family Name
    Counterpoint Mutual Funds
  • Inception Date
    Nov 30, 2015
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Krause

Fund Description

Under normal market conditions, the Fund invests at least 80% of its assets (plus the amount of borrowings, if any) in long and short positions in equity instruments of any market capitalization. Equity instruments include domestic and foreign common stock, preferred stock, depositary receipts, equity swaps (including single-name, index, and basket swaps), options, equity index futures, and other investment companies (such as exchange traded funds (“ETFs”), mutual funds, and closed-end funds) that invest in these types of securities. The Fund may hedge exposure to foreign currencies using foreign currency forwards or futures. The Fund does not focus its investments in any country or geographic location and may be fully invested in equity instruments.

In managing the Fund, the Fund’s adviser, Counterpoint Funds, LLC (the “Adviser”), employs a strategy that generates returns from two sources: (1) stock selection and (2) tactical market exposure.

Stock Selection. The Adviser selects the particular stocks on which to go long and short based on multi-factor quantitative models. The models are based on the Adviser’s proprietary research related to economic indicators and investment anomalies found in peer-reviewed academic journals. An investment anomaly refers to a situation when a security or group of securities performs contrary to the notion of efficient markets, which states that security prices reflect all available information at any point in time. Published papers in academic finance journals have identified more than one hundred investment anomalies. An example of such an anomaly is the asset growth anomaly where the literature has shown that companies that are more aggressive with spending their capital have worse average stock performance than companies that are more conservative in their capital expenditures. Perfect market efficiency would not yield any market outperformance from investment decisions based on publicly available accounting data such as this.

The Fund seeks to target the best performing, recent, and persistent anomalies. The Fund may invest in stocks that provide exposure to a wide variety of anomalies. The Adviser’s strategy may seek to capitalize on many market anomalies at any one time. The Adviser may adjust its model to include newer and more effective anomalies and pare down exposure to older underperforming anomalies on a regular basis. The signals from these models indicate which stocks are undervalued and likely to increase in price and which stocks are overvalued and likely to decrease in price. The Adviser takes long positions in undervalued securities and short positions in overvalued securities.

Tactical Market Exposure. The Adviser varies the Fund’s equity exposure using a tactical proprietary model of market returns. When the tactical model forecasts lower market returns, the Fund targets a market-neutral (zero beta) allocation to stocks with a gross equity exposure (long positions plus short positions) of at least 80%. Beta is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. Beta is assigned a number. A beta of 1 indicates that the security’s price moves with the market. A beta of less than 1 means that the security is theoretically less volatile than the market. A beta of greater than 1 indicates that the security’s price is theoretically more volatile than the market. The remaining 0-20% of the total portfolio assets are invested either directly, or indirectly through ETFs, mutual funds, or derivatives, in U.S. treasury instruments and investment grade debt. When the model forecasts higher market returns, the Adviser selects a blend of equity index futures, equity index ETFs, and/or equity index swaps based on various factors (liquidity, tracking error, and cost) to achieve exposure to the equity markets with a beta between 0.8 and 0.85.

The Fund’s adjustments of its holdings may lead to high portfolio turnover.

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CPIEX - Performance

Return Ranking - Trailing

Period CPIEX Return Category Return Low Category Return High Rank in Category (%)
YTD 23.2% -12.1% 23.2% 0.62%
1 Yr 30.1% -12.5% 39.1% 4.94%
3 Yr 29.0%* -20.4% 29.0% 0.70%
5 Yr 9.1%* -4.9% 24.9% 21.54%
10 Yr N/A* -4.3% 10.0% N/A

* Annualized

Return Ranking - Calendar

Period CPIEX Return Category Return Low Category Return High Rank in Category (%)
2023 3.6% -17.3% 43.8% 61.11%
2022 8.8% -54.0% 17.4% 6.80%
2021 54.1% -40.0% 54.1% 0.71%
2020 -29.2% -47.6% 88.4% 94.81%
2019 -7.7% -20.3% 62.6% 97.64%

Total Return Ranking - Trailing

Period CPIEX Return Category Return Low Category Return High Rank in Category (%)
YTD 23.2% -12.1% 23.2% 0.62%
1 Yr 30.1% -12.5% 39.1% 4.94%
3 Yr 29.0%* -20.4% 29.0% 0.70%
5 Yr 9.1%* -4.9% 24.9% 21.54%
10 Yr N/A* -4.3% 10.0% N/A

* Annualized

Total Return Ranking - Calendar

Period CPIEX Return Category Return Low Category Return High Rank in Category (%)
2023 6.2% -14.5% 43.8% 60.49%
2022 12.1% -54.0% 50.3% 8.84%
2021 54.1% -40.0% 61.6% 2.84%
2020 -29.2% -29.9% 91.0% 98.52%
2019 -7.7% -17.9% 79.4% 97.64%

NAV & Total Return History


CPIEX - Holdings

Concentration Analysis

CPIEX Category Low Category High CPIEX % Rank
Net Assets 68.6 M 1.08 M 6.67 B 56.79%
Number of Holdings 263 2 1906 25.93%
Net Assets in Top 10 49.2 M 639 K 2.09 B 46.30%
Weighting of Top 10 52.92% 2.8% 182.8% 35.80%

Top 10 Holdings

  1. FID-TRSY PT-I 15.19%
  2. COUNTERP QUAN EQ 12.33%
  3. B 05/07/24 7.50%
  4. SPDR SP 500 ETF LONG 6.48%
  5. B 06/06/24 5.33%
  6. B 07/02/24 2.66%
  7. CP TE - JPCPINLC IND 1.68%
  8. CP TE - JPCPINLB IND 1.07%
  9. NOVOCURE LTD 0.36%
  10. ANYWHERE REAL ES 0.34%

Asset Allocation

Weighting Return Low Return High CPIEX % Rank
Stocks
63.74% -0.40% 109.75% 63.58%
Cash
15.60% 0.00% 100.51% 60.49%
Bonds
15.48% 0.00% 178.67% 13.58%
Other
0.31% -52.70% 99.51% 33.33%
Preferred Stocks
0.00% 0.00% 8.29% 99.38%
Convertible Bonds
0.00% -0.02% 4.48% 97.39%

Stock Sector Breakdown

Weighting Return Low Return High CPIEX % Rank
Technology
23.36% 0.00% 43.24% 25.00%
Consumer Cyclical
20.56% 0.00% 88.83% 5.30%
Industrials
13.22% 0.00% 31.93% 28.79%
Financial Services
10.19% 0.00% 83.83% 71.21%
Communication Services
8.63% 0.00% 32.32% 33.33%
Energy
6.21% 0.00% 32.57% 30.30%
Basic Materials
5.66% 0.00% 28.58% 21.97%
Consumer Defense
4.91% 0.00% 33.38% 63.64%
Healthcare
3.44% 0.00% 100.00% 94.70%
Utilities
2.21% 0.00% 21.71% 47.73%
Real Estate
1.62% 0.00% 10.93% 48.48%

Stock Geographic Breakdown

Weighting Return Low Return High CPIEX % Rank
US
63.74% -0.40% 109.75% 53.09%
Non US
0.00% -3.36% 70.87% 97.53%

Bond Sector Breakdown

Weighting Return Low Return High CPIEX % Rank
Cash & Equivalents
15.19% 0.00% 88.63% 25.31%
Government
3.81% 0.00% 58.54% 21.05%
Derivative
0.31% -52.70% 99.51% 30.25%
Securitized
0.00% 0.00% 13.59% 99.34%
Corporate
0.00% 0.00% 99.80% 99.34%
Municipal
0.00% 0.00% 0.07% 99.34%

Bond Geographic Breakdown

Weighting Return Low Return High CPIEX % Rank
US
15.48% 0.00% 178.67% 13.58%
Non US
0.00% 0.00% 15.97% 99.38%

CPIEX - Expenses

Operational Fees

CPIEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.81% 0.42% 8.51% 65.43%
Management Fee 1.25% 0.00% 2.50% 64.20%
12b-1 Fee 0.00% 0.00% 1.00% 24.72%
Administrative Fee N/A 0.03% 1.54% N/A

Sales Fees

CPIEX 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% 4.00% N/A

Trading Fees

CPIEX 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.

CPIEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 230.00% 0.00% 479.00% 82.03%

CPIEX - Distributions

Dividend Yield Analysis

CPIEX Category Low Category High CPIEX % Rank
Dividend Yield 0.09% 0.00% 27.22% 39.75%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

CPIEX Category Low Category High CPIEX % Rank
Net Income Ratio -0.64% -3.33% 2.16% 43.75%

Capital Gain Distribution Analysis

CPIEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

CPIEX - Fund Manager Analysis

Managers

Michael Krause


Start Date

Tenure

Tenure Rank

Nov 30, 2015

6.5

6.5%

Michael Krause is a co-founder of Counterpoint Mutual Funds, LLC. Prior to founding Counterpoint Mutual Funds, LLC in 2014, Mr. Krause co-founded Counterpoint Asset Management, LLC in 2012 to offer quantitative investment strategies to investment clients. Mr. Krause served as a senior financial risk analyst for San Diego Gas & Electric from 2012 until 2014. Mr. Krause is a CFA® charter holder. He obtained an MBA from the Rady School of Management at the University of California at San Diego in 2012 and a Bachelor of Arts in Economics from San Diego State University. Prior to attending San Diego State University, Mr. Krause worked as a computer and information technology consultant and co-founded Exchange Network Services, Inc., an internet service provider, which earned him the Ernst and Young Entrepreneur of the Year, Northeast Ohio regional award in 1998.

Joseph Engelberg


Start Date

Tenure

Tenure Rank

Nov 30, 2015

6.5

6.5%

Joseph Engelberg has served as Chief Research Officer of Counterpoint Mutual Funds, LLC since 2015. Dr. Engelberg has also been an Associate Professor of Finance at University California San Diego, Rady School of Management since 2011. Prior to joining Counterpoint Mutual Funds, LLC, Dr. Engelberg co-founded Counterpoint Asset Management, LLC in 2012. From 2008 to 2011, Dr. Engelberg was an Assistant Professor of Finance at the Kenan-Flagler Business School at the University of North Carolina at Chapel Hill. He earned his Ph.D. in Finance from the Kellogg School of Management at Northwestern University and earned his B.A. in Mathematics and B.S. in Business Administration from the University of Southern California.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 23.55 6.01 7.93