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Name

As of 04/15/2024

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

JAMES MICRO CAP FUND

JMCRX | Fund

$20.18

$27 M

0.63%

$0.13

1.50%

Vitals

YTD Return

-1.8%

1 yr return

22.8%

3 Yr Avg Return

6.1%

5 Yr Avg Return

7.4%

Net Assets

$27 M

Holdings in Top 10

38.8%

52 WEEK LOW AND HIGH

$20.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.50%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 55.00%

Redemption Fee 2.00%

Min Investment

Standard (Taxable)

$10,000

IRA

$5,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/15/2024

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

JAMES MICRO CAP FUND

JMCRX | Fund

$20.18

$27 M

0.63%

$0.13

1.50%

JMCRX - Profile

Distributions

  • YTD Total Return -1.8%
  • 3 Yr Annualized Total Return 6.1%
  • 5 Yr Annualized Total Return 7.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.03%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    JAMES MICRO CAP FUND
  • Fund Family Name
    James Advantage
  • Inception Date
    Jul 07, 2010
  • Shares Outstanding
    1359043
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Barry James

Fund Description

The Fund invests primarily in equity securities of foreign and domestic companies that James Investment Research, Inc. (the “Adviser”) believes are undervalued. Equity securities that the Fund will principally invest in are common stocks, preferred stocks and exchange-traded funds (“ETFs”) that invest primarily in equity securities. Under normal circumstances, the Fund will invest at least 80% of its net assets (plus the amount of borrowing for investment purposes, if any) in equity securities of micro capitalization companies. Shareholders of the Fund will be provided with at least 60 days prior notice of any change in the Fund’s 80% investment policy. Micro capitalization companies are defined as those companies with market capitalizations at the time of purchase no larger than the stocks in the VettaFi US Equity Micro-Cap TR Index, including ETFs that invest primarily in such securities. As of September 30, 2023, the largest market capitalization of the companies included in the VettaFi US Equity Micro-Cap TR Index was $7.74 billion.

The Fund anticipates investing across a range of industry sectors. However, certain sectors may be significantly overweighted or underweighted compared to the Russell Microcap® Index because the Adviser seeks the best investment opportunities regardless of sector. The sectors in which the Fund may be overweighted or underweighted will vary at different points in the economic cycle. The Adviser uses a disciplined sell strategy for the Fund. The Adviser may sell securities because of a deterioration of the underlying company’s financials, such as earnings or cash flow, or because of an increase in the price of a stock that would make it expensive relative to the other stocks held by the Fund. Other reasons may include a change in management or control of the company, a need to raise cash or changes in the regulatory or economic environment in which the company operates. The number of securities held by the Fund may fluctuate in an effort to seek to help increase performance and allow the sector weights to vary according to the number of highly ranked securities in that sector.

Read More

JMCRX - Performance

Return Ranking - Trailing

Period JMCRX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.8% -12.0% 9.0% 60.49%
1 Yr 22.8% -4.6% 34.2% 5.08%
3 Yr 6.1%* -12.4% 68.4% 13.46%
5 Yr 7.4%* -4.4% 47.3% 53.87%
10 Yr 7.1%* -3.5% 26.5% 35.96%

* Annualized

Return Ranking - Calendar

Period JMCRX Return Category Return Low Category Return High Rank in Category (%)
2023 30.9% -18.4% 33.6% 0.44%
2022 -24.1% -36.7% 212.9% 87.22%
2021 31.1% -62.0% 147.6% 13.86%
2020 -4.7% -24.8% 31.3% 84.87%
2019 22.4% -30.1% 34.0% 22.52%

Total Return Ranking - Trailing

Period JMCRX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.8% -12.0% 9.0% 60.49%
1 Yr 22.8% -4.6% 34.2% 5.08%
3 Yr 6.1%* -12.4% 68.4% 13.46%
5 Yr 7.4%* -4.4% 47.3% 53.87%
10 Yr 7.1%* -3.5% 26.5% 35.96%

* Annualized

Total Return Ranking - Calendar

Period JMCRX Return Category Return Low Category Return High Rank in Category (%)
2023 31.7% -15.5% 35.4% 0.44%
2022 -17.3% -36.7% 250.0% 94.84%
2021 36.2% -3.2% 157.9% 18.48%
2020 -4.2% -13.5% 33.4% 87.47%
2019 26.5% -17.4% 34.3% 18.07%

NAV & Total Return History

JMCRX - Holdings

Concentration Analysis

JMCRX Category Low Category High JMCRX % Rank
Net Assets 27 M 2.13 M 52.9 B 91.07%
Number of Holdings 55 10 1578 86.27%
Net Assets in Top 10 10.3 M 180 K 3.01 B 86.71%
Weighting of Top 10 38.77% 0.3% 88.4% 12.23%

Top 10 Holdings

  1. Federal Agricultural Mortgage Corporation 4.97%
  2. Donnelley Financial Solutions, Inc. 4.76%
  3. Nova Measuring Instruments Ltd. 4.21%
  4. Merchants Bancorp 4.12%
  5. OFG Bancorp 3.59%
  6. Enova International, Inc. 3.55%
  7. Ingles Markets, Inc. Class A 3.48%
  8. Insight Enterprises, Inc. 3.44%
  9. U.S. Treasury Bill 0.000%, Due 01/25/2024 3.38%
  10. Piper Sandler Companies 3.26%

Asset Allocation

Weighting Return Low Return High JMCRX % Rank
Stocks 		94.81% 0.99% 104.11% 88.45%
Bonds 		3.38% 0.00% 73.18% 1.74%
Cash 		1.81% 0.00% 99.01% 47.49%
Preferred Stocks 		0.00% 0.00% 2.62% 26.36%
Other 		0.00% -1.78% 40.01% 46.19%
Convertible Bonds 		0.00% 0.00% 2.63% 22.96%

Stock Sector Breakdown

Weighting Return Low Return High JMCRX % Rank
Financial Services 		22.58% 0.00% 35.71% 56.79%
Technology 		16.38% 0.00% 34.03% 4.90%
Healthcare 		14.13% 0.00% 25.76% 2.45%
Industrials 		13.55% 0.65% 48.61% 86.41%
Consumer Cyclical 		10.15% 0.00% 51.62% 62.81%
Basic Materials 		7.14% 0.00% 67.30% 18.26%
Consumer Defense 		7.07% 0.00% 13.22% 13.14%
Energy 		4.85% 0.00% 29.42% 77.73%
Communication Services 		1.97% 0.00% 24.90% 60.80%
Utilities 		1.11% 0.00% 13.86% 73.27%
Real Estate 		1.07% 0.00% 44.41% 90.87%

Stock Geographic Breakdown

Weighting Return Low Return High JMCRX % Rank
US 		94.81% 0.96% 104.11% 80.61%
Non US 		0.00% 0.00% 67.90% 42.70%

Bond Sector Breakdown

Weighting Return Low Return High JMCRX % Rank
Cash & Equivalents 		0.98% 0.00% 100.00% 52.72%
Derivative 		0.00% -1.78% 8.53% 26.80%
Securitized 		0.00% 0.00% 17.64% 21.43%
Corporate 		0.00% 0.00% 100.00% 26.60%
Municipal 		0.00% 0.00% 0.04% 21.43%
Government 		0.00% 0.00% 56.51% 21.92%

Bond Geographic Breakdown

Weighting Return Low Return High JMCRX % Rank
US 		3.38% 0.00% 70.25% 1.74%
Non US 		0.00% 0.00% 2.93% 23.97%

JMCRX - Expenses

Operational Fees

JMCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.50% 0.05% 37.04% 30.28%
Management Fee 1.46% 0.00% 1.50% 99.78%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.35% N/A

Sales Fees

JMCRX 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

JMCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 0.50% 2.00% 15.38%

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.

JMCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 55.00% 7.00% 252.00% 57.86%

JMCRX - Distributions

Dividend Yield Analysis

JMCRX Category Low Category High JMCRX % Rank
Dividend Yield 0.63% 0.00% 14.14% 77.78%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

JMCRX Category Low Category High JMCRX % Rank
Net Income Ratio 0.03% -1.43% 4.13% 75.50%

Capital Gain Distribution Analysis

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

Distributions History

View More +

JMCRX - Fund Manager Analysis

Managers

Barry James

Start Date

Tenure

Tenure Rank

Jul 01, 2010

11.92

11.9%

Barry R. James, CFA, CIC, is President and Chief Executive Officer of James Investment Research, a portfolio manager, and is a senior member of the Investment Committee. He is President of the James Advantage Funds. He received his undergraduate degree from the United States Air Force Academy and his Master’s Degree from Boston University. He joined JIR in its beginning years before a tour of duty as an officer with the United States Air Force. He returned to JIR in 1986. Mr. James currently oversees the management of James Investment Research and holds a CFA charter.

R. Culpepper

Start Date

Tenure

Tenure Rank

Jul 01, 2010

11.92

11.9%

R. Brian Culpepper joined James Investment Research in 1995, and is a Vice President and portfolio manager. Mr. Culpepper is a member of the Investment Committee and is involved in equity research. He is a graduate of Wright State University in Dayton, Ohio where he earned a double Bachelor of Science degree in Management Information Systems and Management in 1995 and an MBA in 2005. Mr. Culpepper also holds the Chartered Mutual Fund Counselor (CMFC) designation.

Brian Shepardson

Start Date

Tenure

Tenure Rank

Jul 01, 2010

11.92

11.9%

When it comes to portfolio management, Brian emphasizes applying James’ established process of team active management. Each portfolio is tailored to your specific goals and objectives, which vary from client to client. The amount of risk taken depends solely on these constraints. He helps design those approximate risk levels and continually fine tunes them as your objectives change over time. Brian’s leadership and team contributions encompass private portfolio management, analysis, fixed income, James’ product/style management and JAF Board of Trustee affairs. His tactical approach is to invest not to sell a product, but rather to better the client. He is committed to your success and finds it rewarding when a client has a specific goal or funding need and James’ helps them achieve that goal. Brian enjoys it when clients withdraw money in order to spend it, because that’s usually why they started in the first place.

Ann Shaw

Start Date

Tenure

Tenure Rank

Jul 01, 2010

11.92

11.9%

Ann M. Shaw, CFP, joined James Investment Research in 1978 and is the Chief Operating Officer and a portfolio manager. She is a senior member of the Investment Committee and is involved in security analysis and client service. Ms. Shaw received her Bachelor’s Degree from Capital University.

Trent Dysert

Start Date

Tenure

Tenure Rank

Nov 01, 2014

7.58

7.6%

Trent D. Dysert, CFA, joined James Investment Research in 2006 and is a portfolio manager and Investment Committee member. Mr. Dysert is involved in market and equity research. He is a graduate of the University of Dayton and earned a Bachelor of Science degree in Finance. Mr. Dysert holds a CFA charter. Prior to joining JIR, Mr. Dysert worked at Ameriprise Financial.

Moustapha Mounah

Start Date

Tenure

Tenure Rank

Feb 25, 2022

0.26

0.3%

A member of your research and investment committee teams, Moustapha’s work helps James’ better analyze opportunity and risk levels of the general market and individual stocks. Moustapha’s overall focus is on examining the equity market. He is especially well versed in the energy sector which can present unique risks and rewards. His distinctive experience and depth of knowledge of the volatile energy market augment data when examining which factors potentially move oil prices and how industries in the sector are impacted. His favorite projects involve specialized or innovative research to find solutions in previously unexplored areas. Moustapha enjoys the assortment of new and different challenges and is always following a pursuit of knowledge. He finds helping clients through the process of exploring and testing new concepts rewarding. Moustapha joined the firm in 2017. Energy Risk Professional (ERP) - Certified by the Global Association of Risk Professionals (GARP) Chartered Financial Analyst (CFA) M.B.A. Finance, Wright State University M.S. Mineral and Energy Economics, Colorado School of Mines (CSM) M.S. Petroleum Economics and Management, IFP, France B.S. Mining Engineering, Colorado School of Mines (CSM)

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 37.45 8.17 3.58

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