Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
9.7%
1 yr return
19.7%
3 Yr Avg Return
6.8%
5 Yr Avg Return
11.4%
Net Assets
$124 M
Holdings in Top 10
93.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.44%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 95.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$20,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
ICSIX - Profile
Distributions
- YTD Total Return 9.7%
- 3 Yr Annualized Total Return 6.8%
- 5 Yr Annualized Total Return 11.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.04%
- Dividend Yield 0.9%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameDynamic U.S. Opportunity Fund
-
Fund Family NameLifegoal ETFs
-
Inception DateDec 30, 2011
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerVito Sciaraffia
Fund Description
Under normal market conditions, the Dynamic U.S. Opportunity Fund invests primarily in equity exchange-traded funds (ETFs) that offer exposure to domestic equity markets. The Dynamic U.S. Opportunity Fund may also invest in other categories of ETFs as described below, including those that offer exposure to domestic and international fixed income markets and those that offer exposure to alternative asset classes. The Dynamic U.S. Opportunity Fund may also directly invest in derivative instruments such as futures contracts and options.
The Dynamic U.S. Opportunity Funds strategy is based on a proprietary quantitative framework (Quantitative Framework) that informs the investment decision-making process regarding investment opportunities in domestic equity markets based on the specific risk/reward characteristics (such as corporate fundamentals, macroeconomic, and behavioral variables, including but not limited to, aggregate earnings, dividends, profitability, gross domestic product, unemployment, interest rates, volatility and price momentum) of various segments of the equity market as defined by the Global Industry Classification Structure (GICS). GICS is a four-tiered, hierarchical industry classification system developed in 1999 by MSCI and Standard & Poors for use by the global financial community; it consists of 11 sectors, 24 industry groups, 69 industries and 158 sub-industries. The Dynamic U.S. Opportunity Funds equity exposures may include, but are not limited to, ETFs that invest in common and preferred stocks of all market capitalizations, convertible securities and rights and warrants listed on U.S. markets or non-U.S. markets. The Dynamic U.S. Opportunity Funds investments in equity markets include, but are not limited to: Consumer Discretionary, Consumer Staples, Energy, Financials, Health Care, Industrials, Information Technology, Materials, Real Estate Communication Services and Utilities. The Dynamic U.S. Opportunity Fund also may invest in industry groups, industries and sub-industries (collectively, sub-sectors) of the sectors defined by GICS.
The Dynamic U.S. Opportunity Fund may invest in ETFs that offer exposure to domestic and international fixed income securities, such as bonds issued by governments, government agencies and/or corporations as well as asset-backed securities and floating-rate securities. Such ETFs may include fixed income investments of any maturity, duration or quality, including those that are rated below investment grade junk bonds. Note that the fixed income allocation is intended to be primarily, but not necessarily exclusively, domestic.
The Dynamic U.S. Opportunity Fund may invest in ETFs that offer exposure to various alternative asset classes, such as, but not limited to, commodities, real estate, currencies, derivatives and volatility. The Dynamic U.S. Opportunity Fund may also invest in leveraged, inverse and inverse-leveraged ETFs in order to gain exposures to the referenced equity, fixed income and alterative asset classes. Further, the Dynamic U.S. Opportunity Fund may invest directly in certain derivatives, namely futures and options in order to achieve desired market exposures.
At least 80% of the Dynamic U.S. Opportunity Funds assets will be invested in accordance with the Dynamic U.S. Opportunity Funds name, specifically in ETFs that offer exposure to U.S.-based sectors, fixed income markets, and/or alternative asset classes and derivative instruments providing exposure to such U.S. based sectors, markets or asset classes.
Under normal market conditions, the Dynamic U.S. Opportunity Fund allocates at least a majority and up to 100% of its assets to equity ETFs that focus investment either directly or indirectly in domestic equity markets.
Also under normal market conditions:
● | The Dynamic U.S. Opportunity Fund seeks to invest substantially all of its assets in equity, fixed income and/or alternative asset class ETFs and derivative instruments. |
● | The Adviser does not anticipate investing generally more than 35% in any single equity market sector exposure |
● | The Dynamic U.S. Opportunity Fund may be invested in any number of sector and sub-sector equity markets, including none. |
● | The Dynamic U.S. Opportunity Funds portfolio will be comprised primarily of equity ETFs. |
Under stressed or abnormal market conditions, or for other defensive purposes, the Dynamic U.S. Opportunity Fund may invest up to 100% of its assets in fixed income ETFs, alternative asset class ETFs or cash, or a combination of any or all three of these asset classes.
The Dynamic U.S. Opportunity Fund is actively managed and on a daily basis, the Advisers investment committee (the Investment Committee) analyzes variables that the Adviser believes have predictive capabilities with respect to equity performance. Where the Investment Committee finds the prospective risk-relative return of an equity-based ETF investing in a given sector to be superior to that of an ETF investing in the fixed income or alternative asset class categories, an allocation is made to the equity ETF. The Investment Committee may choose to aggregate exposures in order to achieve these desired exposures. In the absence of an attractive equity exposure, the allocation is made to fixed income or alternative asset class category ETF. The Adviser will make decisions to transact a security based on its Quantitative Framework or if the Dynamic U.S. Opportunity Funds portfolio needs to be rebalanced. Decisions by the Adviser to transact other portfolio securities will be based upon the research, recommendations, and trading signals received from the Investment Committee.
This strategy seeks to provide excess returns relative to the Dynamic U.S. Opportunity Funds benchmark, the S&P 500 Index over periods of three years and longer, with risk levels commensurate with the level of performance, using diversification, active management, style integrity, minimized security selection risk and cost efficiency.
The Dynamic U.S. Opportunity Fund may lend its portfolio securities in order to generate additional income.
ICSIX - Performance
Return Ranking - Trailing
Period | ICSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.7% | -4.5% | 26.0% | 47.93% |
1 Yr | 19.7% | -1.6% | 51.8% | 37.33% |
3 Yr | 6.8%* | -19.4% | 12.2% | 5.12% |
5 Yr | 11.4%* | -11.8% | 25.0% | 3.43% |
10 Yr | 9.0%* | -4.1% | 10.4% | 2.92% |
* Annualized
Return Ranking - Calendar
Period | ICSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.9% | -18.9% | 60.2% | 10.65% |
2022 | -9.8% | -48.5% | 0.1% | 13.95% |
2021 | 10.0% | -19.0% | 48.3% | 18.22% |
2020 | 12.2% | -16.5% | 52.8% | 16.67% |
2019 | 25.3% | -8.5% | 26.6% | 3.02% |
Total Return Ranking - Trailing
Period | ICSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.7% | -4.5% | 26.0% | 47.93% |
1 Yr | 19.7% | -1.6% | 51.8% | 37.33% |
3 Yr | 6.8%* | -19.4% | 12.2% | 5.12% |
5 Yr | 11.4%* | -11.8% | 25.0% | 3.43% |
10 Yr | 9.0%* | -4.1% | 10.4% | 2.92% |
* Annualized
Total Return Ranking - Calendar
Period | ICSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 16.0% | -11.7% | 61.8% | 11.57% |
2022 | -7.5% | -48.5% | 4.6% | 16.28% |
2021 | 16.2% | -14.2% | 48.3% | 17.76% |
2020 | 18.8% | -11.7% | 77.4% | 15.20% |
2019 | 26.0% | -3.9% | 28.4% | 5.03% |
NAV & Total Return History
ICSIX - Holdings
Concentration Analysis
ICSIX | Category Low | Category High | ICSIX % Rank | |
---|---|---|---|---|
Net Assets | 124 M | 1.98 M | 12.4 B | 59.45% |
Number of Holdings | 21 | 2 | 2274 | 72.81% |
Net Assets in Top 10 | 121 M | 1.55 M | 9.46 B | 49.77% |
Weighting of Top 10 | 93.54% | 20.8% | 109.8% | 21.66% |
Top 10 Holdings
- FIRST AM-TR OB-X 16.66%
- SPDR-TECH SEL S 15.43%
- JPM COR PLUS BD 13.02%
- VANGUARD INTERME 8.69%
- SPDR-FINL SELECT 8.02%
- SPDR-HEALTH CARE 7.50%
- SPDR-COMM SERV 7.46%
- SPDR-CONS DISCRE 6.50%
- SPDR-INDU SELECT 5.50%
- VANGUARD TOTAL B 4.76%
Asset Allocation
Weighting | Return Low | Return High | ICSIX % Rank | |
---|---|---|---|---|
Stocks | 98.25% | 0.00% | 145.83% | 31.34% |
Cash | 16.66% | -33.22% | 99.64% | 23.50% |
Preferred Stocks | 0.00% | -0.09% | 5.36% | 31.80% |
Other | 0.00% | -29.71% | 135.29% | 52.07% |
Convertible Bonds | 0.00% | 0.00% | 8.92% | 65.90% |
Bonds | 0.00% | 0.00% | 106.59% | 50.69% |
Stock Sector Breakdown
Weighting | Return Low | Return High | ICSIX % Rank | |
---|---|---|---|---|
Financial Services | 17.71% | 0.00% | 98.22% | 15.30% |
Energy | 15.88% | 0.00% | 60.89% | 13.11% |
Technology | 14.30% | 0.00% | 85.77% | 60.66% |
Healthcare | 13.85% | 0.00% | 38.63% | 27.87% |
Consumer Cyclical | 8.92% | 0.00% | 25.83% | 45.90% |
Communication Services | 8.22% | 0.00% | 21.61% | 21.31% |
Industrials | 7.00% | 0.00% | 23.85% | 68.85% |
Real Estate | 4.92% | 0.00% | 99.45% | 36.07% |
Utilities | 3.92% | 0.00% | 91.12% | 36.61% |
Basic Materials | 2.99% | 0.00% | 56.73% | 60.11% |
Consumer Defense | 2.30% | 0.00% | 37.51% | 83.06% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | ICSIX % Rank | |
---|---|---|---|---|
US | 98.25% | 0.00% | 145.83% | 30.88% |
Non US | 0.00% | -1.94% | 38.53% | 36.41% |
ICSIX - Expenses
Operational Fees
ICSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.44% | 0.45% | 10.24% | 61.75% |
Management Fee | 1.00% | 0.00% | 1.50% | 68.20% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 11.81% |
Administrative Fee | N/A | 0.05% | 0.70% | 35.71% |
Sales Fees
ICSIX 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% | 1.00% | N/A |
Trading Fees
ICSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.50% | 2.00% | 2.08% |
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.
ICSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 95.00% | 1.75% | 441.00% | 48.85% |
ICSIX - Distributions
Dividend Yield Analysis
ICSIX | Category Low | Category High | ICSIX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.89% | 0.00% | 24.95% | 65.90% |
Dividend Distribution Analysis
ICSIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Annual | Annual |
Net Income Ratio Analysis
ICSIX | Category Low | Category High | ICSIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.04% | -2.01% | 13.72% | 59.45% |
Capital Gain Distribution Analysis
ICSIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 18, 2023 | $0.152 | OrdinaryDividend |
Dec 19, 2022 | $0.347 | OrdinaryDividend |
Dec 20, 2021 | $0.011 | OrdinaryDividend |
Dec 20, 2021 | $0.454 | CapitalGainShortTerm |
Dec 20, 2021 | $0.361 | CapitalGainLongTerm |
Dec 21, 2020 | $0.793 | OrdinaryDividend |
Dec 19, 2019 | $0.060 | OrdinaryDividend |
Dec 20, 2018 | $0.088 | OrdinaryDividend |
Dec 20, 2018 | $0.554 | CapitalGainShortTerm |
Dec 20, 2018 | $0.581 | CapitalGainLongTerm |
Dec 21, 2017 | $0.066 | OrdinaryDividend |
Dec 21, 2017 | $0.242 | CapitalGainShortTerm |
Dec 22, 2016 | $0.059 | OrdinaryDividend |
Sep 29, 2016 | $0.119 | OrdinaryDividend |
Jun 29, 2016 | $0.029 | OrdinaryDividend |
Mar 30, 2016 | $0.029 | OrdinaryDividend |
Dec 24, 2015 | $0.070 | OrdinaryDividend |
Sep 29, 2015 | $0.048 | OrdinaryDividend |
Jun 29, 2015 | $0.059 | OrdinaryDividend |
Mar 30, 2015 | $0.035 | OrdinaryDividend |
Dec 24, 2014 | $0.088 | OrdinaryDividend |
Sep 29, 2014 | $0.048 | OrdinaryDividend |
Jun 27, 2014 | $0.038 | OrdinaryDividend |
Mar 28, 2014 | $0.015 | OrdinaryDividend |
Dec 24, 2013 | $0.085 | OrdinaryDividend |
Sep 27, 2013 | $0.047 | OrdinaryDividend |
Jun 27, 2013 | $0.056 | OrdinaryDividend |
Mar 27, 2013 | $0.040 | OrdinaryDividend |
Dec 14, 2012 | $0.099 | OrdinaryDividend |
Dec 14, 2012 | $0.113 | CapitalGainShortTerm |
Dec 14, 2012 | $0.000 | CapitalGainLongTerm |
Sep 27, 2012 | $0.117 | OrdinaryDividend |
ICSIX - Fund Manager Analysis
Managers
Vito Sciaraffia
Start Date
Tenure
Tenure Rank
Oct 01, 2015
6.67
6.7%
Vito Sciaraffia serves as Chief Investment Officer of Innealta Capital, LLC. In addition, Dr. Sciaraffia served as Chief Investment Officer of Innealta Capital, a division of AFAM Capital Inc., since October 1st, 2015 to July 31st, 2018. In his Chief Investment Officer role, Dr. Sciaraffia is responsible for ensuring prudent management of all client assets, designing quantitative strategies, and leading the research activities of the investment team. His professional experience focuses heavily on the quantitative evaluation of equity securities and financial markets. Also, Dr. Sciaraffia is actively involved with clients through conference presentations, training activities, webinars, and written market commentaries. Dr. Sciaraffia has been in the financial industry since 2004. His previous work experience includes: Senior Researcher on the Strategy Research Team at Dimensional Fund Advisors, from May 2013 to June 2015, where he conducted empirical asset pricing research, wrote research papers, enhanced the design of investment strategies, and collaborated with their marketing and sales departments by delivering technical presentations to various clients and Academic in the Finance Department at the McCombs School of Business at the University of Texas at Austin from January 2012 to May 2013 and January 2017 to present, where he focuses his research on empirical asset pricing and has taught the core Investment Management course and the Quantitative Investment Strategies course for graduate students. In addition, Dr. Sciaraffia has served as a Management Associate in the Investment Banking Division at Citigroup, member of the Market Risk Team at JP Morgan, and consultant to multiple private and public organizations. Dr. Sciaraffia earned his PhD in Business Administration from the Haas School of Business at the University of California, Berkeley. In addition, he has an MA in Mathematics with an emphasis in stochastic processes and an MS in Business from the University of California, Berkeley, an MBA and an MS in Finance from the University of Chile, and a BS in Economics and Management from the Catholic University of Chile.
Yuxing Zhang
Start Date
Tenure
Tenure Rank
Mar 31, 2021
1.17
1.2%
Yuxing Zhang, FRM, is a Portfolio Manager and Quantitative Research Analyst of Innealta Capital, joined Innealta Capital 2017. Mr. Zhang is part of our quantitative and implementation team, which is responsible for the day-to-day data management, portfolio implementation and ongoing enhancement of our models and systems. Mr. Zhang received a B.S. degree in Applied Mathematics and a B.A in Economics from the Southwestern University of Finance and Economics in 2014 and a M.S. in Financial Mathematics from the University of Chicago in 2016.
Franco Fava
Start Date
Tenure
Tenure Rank
Mar 31, 2021
1.17
1.2%
Franco Fava is an Assistant Portfolio Manager and Financial Quantitative Analyst of Innealta Capital, joined Innealta Capital 2019. Mr. Fava is part of Innealta’s quantitative and implementation team, providing analytical support through in-depth research and quantitative analysis of the sector, region, and country fundamentals. Mr. Fava received a B.S. in Engineering from the Pontifical Catholic University of Chile in 2016 and a graduate degree in Industrial Engineering from the same University in 2018.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 33.83 | 6.67 | 13.0 |