Merk Hard Currency Inv
Name
Price
Aum/Mkt Cap
YIELD & DIV
Exp Ratio
Watchlist
Vitals
YTD Return
-6.6%
1 yr return
-11.0%
3 Yr Avg Return
-1.4%
5 Yr Avg Return
-1.2%
Net Assets
$48.3 M
Holdings in Top 10
72.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.33%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 107.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Investment Style
Global Bond
Name
Price
Aum/Mkt Cap
YIELD & DIV
Exp Ratio
Watchlist
MERKX - Profile
Distributions
- YTD Total Return -6.6%
- 3 Yr Annualized Total Return -1.4%
- 5 Yr Annualized Total Return -1.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -1.08%
- Dividend Yield 10.6%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameMerk Hard Currency Fund
-
Fund Family NameMerk Funds
-
Inception DateMay 10, 2005
-
Shares OutstandingN/A
-
Share ClassInv
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerAxel Merk
Fund Description
The fund invests at least 80% of the value of its net assets (plus borrowings for investment purposes) in "hard currency" denominated investments. The fund normally obtains exposure to hard currencies by directly investing in high quality, short-term debt instruments, including sovereign debt, denominated in hard currencies, or indirectly by investing in domestic fixed income securities and forward foreign currency contracts on hard currencies. The fund is non-diversified.
MERKX - Performance
Return Ranking - Trailing
| Period | MERKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -6.6% | -59.5% | 0.9% | 20.87% |
| 1 Yr | -11.0% | -15.5% | 19.7% | 23.56% |
| 3 Yr | -1.4%* | -4.3% | 4.2% | 60.70% |
| 5 Yr | -1.2%* | -2.5% | 4.1% | 84.57% |
| 10 Yr | -2.6%* | -3.0% | 2.7% | 99.43% |
* Annualized
Return Ranking - Calendar
| Period | MERKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2021 | -8.6% | -15.2% | 0.9% | 65.50% |
| 2020 | 6.3% | -10.9% | 12.2% | 44.85% |
| 2019 | 0.9% | -10.8% | 14.8% | 86.46% |
| 2018 | -8.0% | -15.3% | 0.6% | 86.71% |
| 2017 | 9.1% | -44.4% | 14.4% | 20.25% |
Total Return Ranking - Trailing
| Period | MERKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -6.6% | -59.5% | 0.9% | 16.02% |
| 1 Yr | -11.0% | -16.6% | 30.5% | 21.33% |
| 3 Yr | -1.4%* | -5.2% | 10.9% | 56.52% |
| 5 Yr | -1.2%* | -2.8% | 7.4% | 82.47% |
| 10 Yr | -2.6%* | -3.0% | 3.6% | 99.45% |
* Annualized
Total Return Ranking - Calendar
| Period | MERKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2021 | -8.6% | -15.2% | 0.9% | 65.50% |
| 2020 | 6.3% | -10.9% | 12.2% | 44.85% |
| 2019 | 0.9% | -10.8% | 14.8% | 87.50% |
| 2018 | -6.3% | -15.3% | 3.8% | 86.71% |
| 2017 | 9.1% | -44.4% | 14.4% | 30.06% |
NAV & Total Return History
MERKX - Holdings
Concentration Analysis
| MERKX | Category Low | Category High | MERKX % Rank | |
|---|---|---|---|---|
| Net Assets | 48.3 M | 74.5 K | 14.7 B | 80.88% |
| Number of Holdings | 33 | 4 | 4562 | 93.84% |
| Net Assets in Top 10 | 34.6 M | -112 M | 3.66 B | 60.19% |
| Weighting of Top 10 | 72.02% | 4.7% | 100.0% | 17.79% |
Top 10 Holdings
- United States Treasury Bills 13.76%
- Kommuninvest I Sverige AB 1% 13.33%
- Norway (Kingdom Of) 12.15%
- Norway (Kingdom Of) 12.15%
- Norway (Kingdom Of) 12.15%
- Norway (Kingdom Of) 12.15%
- Norway (Kingdom Of) 12.15%
- Norway (Kingdom Of) 12.15%
- Norway (Kingdom Of) 12.15%
- Norway (Kingdom Of) 12.15%
Asset Allocation
| Weighting | Return Low | Return High | MERKX % Rank | |
|---|---|---|---|---|
| Cash | 54.77% | -130.07% | 95.62% | 2.84% |
| Bonds | 44.41% | 0.00% | 220.33% | 96.68% |
| Other | 0.82% | -9.71% | 100.00% | 10.43% |
| Stocks | 0.00% | 0.00% | 7.47% | 54.03% |
| Preferred Stocks | 0.00% | 0.00% | 2.87% | 36.49% |
| Convertible Bonds | 0.00% | 0.00% | 11.19% | 90.52% |
MERKX - Expenses
Operational Fees
| MERKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.33% | 0.02% | 3.65% | 18.18% |
| Management Fee | 1.00% | 0.00% | 2.08% | 97.56% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 26.26% |
| Administrative Fee | N/A | 0.01% | 0.45% | N/A |
Sales Fees
| MERKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.00% | 5.00% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| MERKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 2.00% | 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.
| MERKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 107.00% | 6.00% | 354.00% | 67.46% |
MERKX - Distributions
Dividend Yield Analysis
| MERKX | Category Low | Category High | MERKX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 10.63% | 0.00% | 17.40% | 45.50% |
Dividend Distribution Analysis
| MERKX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| MERKX | Category Low | Category High | MERKX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -1.08% | -1.08% | 5.77% | 100.00% |
Capital Gain Distribution Analysis
| MERKX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Dividend Payout History
| Date | Amount | Type |
|---|---|---|
| Dec 30, 2021 | $0.223 | OrdinaryDividend |
| Jun 29, 2018 | $0.085 | OrdinaryDividend |
| Mar 29, 2018 | $0.094 | OrdinaryDividend |
| Jun 27, 2014 | $0.081 | OrdinaryDividend |
| Mar 28, 2014 | $0.063 | OrdinaryDividend |
| Dec 30, 2013 | $0.151 | OrdinaryDividend |
| Dec 29, 2011 | $0.096 | OrdinaryDividend |
| Jun 29, 2011 | $0.053 | OrdinaryDividend |
| Mar 30, 2011 | $0.047 | OrdinaryDividend |
| Jun 29, 2010 | $0.075 | OrdinaryDividend |
| Mar 30, 2010 | $0.071 | OrdinaryDividend |
| Dec 30, 2009 | $0.067 | OrdinaryDividend |
| Jun 27, 2008 | $0.150 | OrdinaryDividend |
| Mar 28, 2008 | $0.201 | OrdinaryDividend |
| Dec 31, 2007 | $0.418 | OrdinaryDividend |
| Sep 28, 2007 | $0.052 | OrdinaryDividend |
| Jun 29, 2007 | $0.063 | OrdinaryDividend |
| Mar 30, 2007 | $0.086 | OrdinaryDividend |
| Dec 29, 2006 | $0.207 | OrdinaryDividend |
| Sep 29, 2006 | $0.043 | OrdinaryDividend |
| Jun 30, 2006 | $0.024 | OrdinaryDividend |
MERKX - Fund Manager Analysis
Managers
Axel Merk
Start Date
Tenure
Tenure Rank
May 10, 2005
16.98
17.0%
Axel Merk is President and founded Merk Investments LLC in 2001. Mr. Merk heads the portfolio management team. Mr. Merk conducted investment advisory activities for Merk Investments AG, a company he founded in Switzerland in 1994, until he transferred these activities to Merk Investments LLC in 2001. He holds a B.A. in Economics (magna cum laude) and a M.Sc. in Computer Science from Brown University in Rhode Island. Mr. Merk has been a portfolio manager of the Merk Hard Currency Fund since it’s inception in 2005.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.02 | 28.31 | 6.8 | 3.67 |