Balanced Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
6.4%
1 yr return
20.3%
3 Yr Avg Return
6.1%
5 Yr Avg Return
9.2%
Net Assets
$82.3 M
Holdings in Top 10
33.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.31%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 23.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
FOBAX - Profile
Distributions
- YTD Total Return 6.4%
- 3 Yr Annualized Total Return 6.1%
- 5 Yr Annualized Total Return 9.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.48%
- Dividend Yield 1.5%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameBalanced Fund
-
Fund Family NameTributary Funds
-
Inception DateAug 15, 2016
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRonald Horner
Fund Description
The Fund’s Sub-Adviser will allocate its assets among stocks, fixed income securities, and cash equivalents. The Fund will normally invest 25% to 75% of its assets in stocks and convertible securities and at least 25% of its total assets in fixed income securities. The Fund may also invest in preferred stocks and warrants. The Fund may invest in securities issued by companies with large, medium, or small capitalizations. The fixed income securities in which the Fund may invest include corporate bonds, foreign or Yankee bonds, municipal bonds, obligations issued or guaranteed by the U.S. government (or it agencies or instrumentalities), convertible securities, certain restricted securities, and in fixed income securities with variable or floating interest rates. The Fund may also enter into repurchase agreements.
With respect to the equity portion of the Fund, the Sub-Adviser intends to target companies with above average sales and earnings growth characteristics and below average valuations with a focus on investing in companies that have an improving profit outlook. The Sub-Adviser employs strategies to control the risks of the Fund’s equity holdings, including diversifying stockholdings across the major economic sectors and individual companies.
With respect to the fixed income portion of the Fund, the Sub-Adviser intends to invest primarily in fixed income securities rated, at the time of purchase, within the four highest credit categories (Aaa, Aa, A, Baa, or equivalent) by at least one nationally recognized statistical rating organization (“NRSRO”), or if unrated, deemed to be of comparable quality by the Fund’s Sub-Adviser. However, also with respect to the fixed income portion of the Fund, the Fund may invest up to 20% of that
portion in fixed income securities rated below such ratings (“junk” or “high yield” bonds) but not lower than a B rating by an NRSRO at the time of purchase. In addition, the sub-adviser seeks to maintain a dollar-weighted average maturity of three years or more for its fixed income allocation.
Under normal market conditions, the Fund will invest no more than 75% of its fixed income portion in asset-backed and/or mortgage-backed securities.
FOBAX - Performance
Return Ranking - Trailing
Period | FOBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 6.4% | -0.9% | 26.1% | 22.52% |
1 Yr | 20.3% | -5.9% | 45.8% | 21.12% |
3 Yr | 6.1%* | -5.8% | 8.6% | 8.88% |
5 Yr | 9.2%* | -4.1% | 15.9% | 15.35% |
10 Yr | N/A* | 0.7% | 10.9% | 33.28% |
* Annualized
Return Ranking - Calendar
Period | FOBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.1% | -12.2% | 23.9% | 44.94% |
2022 | -19.5% | -34.7% | 2.8% | 61.97% |
2021 | 7.5% | -11.9% | 18.1% | 36.43% |
2020 | 6.3% | -20.9% | 39.7% | 63.52% |
2019 | 16.1% | 0.8% | 25.7% | 25.60% |
Total Return Ranking - Trailing
Period | FOBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 6.4% | -0.9% | 26.1% | 22.52% |
1 Yr | 20.3% | -5.9% | 45.8% | 21.12% |
3 Yr | 6.1%* | -5.8% | 8.6% | 8.88% |
5 Yr | 9.2%* | -4.1% | 15.9% | 15.35% |
10 Yr | N/A* | 0.7% | 10.9% | 30.81% |
* Annualized
Total Return Ranking - Calendar
Period | FOBAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 17.1% | -12.2% | 26.8% | 15.45% |
2022 | -15.0% | -29.0% | 10.9% | 51.71% |
2021 | 16.3% | -3.0% | 24.2% | 15.93% |
2020 | 12.6% | -19.5% | 40.6% | 51.47% |
2019 | 21.4% | 4.4% | 32.7% | 26.71% |
NAV & Total Return History
FOBAX - Holdings
Concentration Analysis
FOBAX | Category Low | Category High | FOBAX % Rank | |
---|---|---|---|---|
Net Assets | 82.3 M | 733 K | 195 B | 86.36% |
Number of Holdings | 195 | 2 | 15716 | 36.75% |
Net Assets in Top 10 | 26.7 M | 618 K | 62.8 B | 85.44% |
Weighting of Top 10 | 33.53% | 11.4% | 118.9% | 62.27% |
Top 10 Holdings
- Microsoft Corp. 4.31%
- Apple, Inc. 4.23%
- U.S. Treasury Note/Bond 3.90%
- U.S. Treasury Note 3.78%
- U.S. Treasury Note/Bond 3.74%
- U.S. Treasury Note 3.68%
- BlackRock Liquidity Funds T-Fund Portfolio, Institutional Shares 2.64%
- Alphabet, Inc. 2.53%
- Amazon.com, Inc. 2.47%
- NVIDIA Corp. 2.26%
Asset Allocation
Weighting | Return Low | Return High | FOBAX % Rank | |
---|---|---|---|---|
Stocks | 60.04% | 0.00% | 103.09% | 71.57% |
Bonds | 37.09% | 0.00% | 77.27% | 17.48% |
Cash | 2.88% | -10.21% | 100.00% | 34.26% |
Preferred Stocks | 0.00% | 0.00% | 23.88% | 44.80% |
Other | 0.00% | -41.62% | 117.44% | 55.62% |
Convertible Bonds | 0.00% | 0.00% | 23.84% | 91.48% |
Stock Sector Breakdown
Weighting | Return Low | Return High | FOBAX % Rank | |
---|---|---|---|---|
Technology | 23.78% | 0.00% | 44.21% | 16.53% |
Healthcare | 14.25% | 0.00% | 29.35% | 41.46% |
Financial Services | 12.55% | 0.00% | 38.77% | 77.17% |
Consumer Cyclical | 11.04% | 0.00% | 19.36% | 30.53% |
Communication Services | 9.42% | 0.00% | 38.10% | 11.20% |
Industrials | 8.95% | 0.00% | 24.37% | 76.75% |
Consumer Defense | 6.81% | 0.00% | 15.14% | 43.14% |
Real Estate | 4.01% | 0.00% | 65.01% | 34.73% |
Energy | 3.74% | 0.00% | 85.65% | 73.53% |
Utilities | 3.42% | 0.00% | 99.55% | 30.67% |
Basic Materials | 2.03% | 0.00% | 33.35% | 84.87% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | FOBAX % Rank | |
---|---|---|---|---|
US | 60.04% | 0.00% | 103.09% | 64.36% |
Non US | 0.00% | 0.00% | 38.68% | 47.02% |
Bond Sector Breakdown
Weighting | Return Low | Return High | FOBAX % Rank | |
---|---|---|---|---|
Government | 29.75% | 0.00% | 97.26% | 50.56% |
Corporate | 29.67% | 0.00% | 98.21% | 54.05% |
Securitized | 24.22% | 0.00% | 92.13% | 31.42% |
Cash & Equivalents | 2.64% | 0.00% | 100.00% | 34.54% |
Municipal | 1.68% | 0.00% | 24.80% | 8.66% |
Derivative | 0.00% | -3.07% | 46.02% | 39.25% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | FOBAX % Rank | |
---|---|---|---|---|
US | 37.09% | 0.00% | 77.27% | 16.78% |
Non US | 0.00% | 0.00% | 14.17% | 36.34% |
FOBAX - Expenses
Operational Fees
FOBAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.31% | 0.03% | 17.63% | 30.07% |
Management Fee | 0.75% | 0.00% | 1.83% | 86.91% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.25% | 0.01% | 0.83% | 91.10% |
Sales Fees
FOBAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.25% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
FOBAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.00% | 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.
FOBAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 23.00% | 0.00% | 343.00% | 29.93% |
FOBAX - Distributions
Dividend Yield Analysis
FOBAX | Category Low | Category High | FOBAX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.50% | 0.00% | 15.61% | 7.02% |
Dividend Distribution Analysis
FOBAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | Monthly | Annual |
Net Income Ratio Analysis
FOBAX | Category Low | Category High | FOBAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.48% | -2.34% | 19.41% | 81.95% |
Capital Gain Distribution Analysis
FOBAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Monthly | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 22, 2024 | $0.054 | OrdinaryDividend |
Dec 14, 2023 | $0.908 | OrdinaryDividend |
Sep 21, 2023 | $0.056 | OrdinaryDividend |
Jun 15, 2023 | $0.051 | OrdinaryDividend |
Mar 16, 2023 | $0.042 | OrdinaryDividend |
Dec 15, 2022 | $0.839 | OrdinaryDividend |
Sep 16, 2022 | $0.035 | OrdinaryDividend |
Jun 17, 2022 | $0.031 | OrdinaryDividend |
Mar 18, 2022 | $0.020 | OrdinaryDividend |
Sep 16, 2021 | $0.024 | OrdinaryDividend |
Jun 17, 2021 | $0.028 | OrdinaryDividend |
Mar 18, 2021 | $0.021 | OrdinaryDividend |
Sep 17, 2020 | $0.032 | OrdinaryDividend |
Jun 18, 2020 | $0.039 | OrdinaryDividend |
Mar 19, 2020 | $0.035 | OrdinaryDividend |
Dec 13, 2019 | $0.676 | OrdinaryDividend |
Sep 20, 2019 | $0.042 | OrdinaryDividend |
Mar 22, 2019 | $0.034 | OrdinaryDividend |
Sep 21, 2018 | $0.035 | OrdinaryDividend |
Jun 22, 2018 | $0.035 | OrdinaryDividend |
Mar 23, 2018 | $0.027 | OrdinaryDividend |
Sep 22, 2017 | $0.031 | OrdinaryDividend |
Jun 23, 2017 | $0.041 | OrdinaryDividend |
Mar 24, 2017 | $0.026 | OrdinaryDividend |
Sep 23, 2016 | $0.029 | OrdinaryDividend |
FOBAX - Fund Manager Analysis
Managers
Ronald Horner
Start Date
Tenure
Tenure Rank
Oct 01, 2014
7.67
7.7%
Ronald Horner, Managing Director, Fixed Income. Ron joined First National in March 2006 as a Managing Director and Head of Fixed Income. In this capacity, Ron provides leadership and oversight for all of First National’s fixed income investment mandates. Ronald’s over 30 year career in investment management includes 18 years with Commercial Federal Bank serving as an Investment Portfolio Manager and Secondary Mortgage Marketing Manager. He received his B.S. from Creighton University and Masters of Business Administration from the University of Nebraska at Omaha.
Kurt Spieler
Start Date
Tenure
Tenure Rank
Oct 01, 2014
7.67
7.7%
Kurt Spieler, CFA, Senior Managing Director. Kurt joined First National in 2005 and has over 30 years of experience including the portfolio management of mutual funds in emerging markets, core international and U.S. moderate allocation. Previously, he was head of international equities for Principal Global Investors, as well as president of his own asset management firm. Kurt graduated from Iowa State University and chose to obtain his MBA from Drake University. Kurt is a member of the CFA Institute and the CFA Society of Colorado.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 34.51 | 6.33 | 2.41 |