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Trending ETFs

Name

As of 10/01/2024

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

$9.09

$122 M

4.36%

$0.40

0.56%

Vitals

YTD Return

5.3%

1 yr return

14.8%

3 Yr Avg Return

0.1%

5 Yr Avg Return

N/A

Net Assets

$122 M

Holdings in Top 10

19.4%

52 WEEK LOW AND HIGH

$9.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.56%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/01/2024

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

$9.09

$122 M

4.36%

$0.40

0.56%

NMKBX - Profile

Distributions

  • YTD Total Return 5.3%
  • 3 Yr Annualized Total Return 0.1%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.41%
DIVIDENDS
  • Dividend Yield 4.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    North Square McKee Bond Fund
  • Fund Family Name
    North Square
  • Inception Date
    Dec 28, 2020
  • Shares Outstanding
    13560349
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Bryan Johanson

Fund Description

In seeking to achieve the Fund’s investment objective, the Adviser has selected CSM Advisors, LLC (“CS McKee” or the “Sub-Adviser”), a wholly owned subsidiary of the Adviser, to serve as the Fund’s sub-adviser and allocates the Fund’s assets to the Sub-Adviser. The Adviser retains the ability to manage all or a portion of the Fund’s assets directly.

The Fund invests, under normal market conditions, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in fixed and floating rate investment-grade securities. The Sub-Adviser seeks to create a portfolio of high quality and highly liquid securities that are intended to provide an above market yield. The Fund focuses on investments in fixed maturity and callable U.S. Government Agency securities and high-quality corporate bonds (primarily A or better), agency mortgages and other investment grade securitized holdings, seeking to minimize the potential for loss of principal due to credit risk. The Sub-Adviser believes that these securities offer favorable yields relative to specific market risks. The Sub-Adviser typically diversifies among multiple security types that it believes provide the best risk/return profile over the long term. These securities include, among others, U.S. Treasury Inflation-Protected Securities, certificates of deposit, zero coupon callable agency bonds, and mortgage-backed and other asset-backed securities (including senior, first tranche collateralized loan obligations).

The Sub-Adviser seeks to consistently add value relative to the performance of the Bloomberg Index on both a nominal and risk-adjusted basis. Employing a primary focus on security selection, the Fund seeks to outperform across a range of plausible market scenarios while maintaining superior credit quality and liquidity. The Sub-Adviser’s methodology incorporates a bottom-up approach that is opportunistic, yet risk controlled. As noted above, the Sub-Adviser’s focus on active management of high-quality and highly liquid securities is designed to mitigate credit and duration risk and provide enhanced portfolio diversification. Duration is a measure of the expected price volatility of a bond to changes in interest rates. The longer the duration of a bond, the more sensitive it will be to changes in interest rates. For example, a three-year duration means a bond is expected to decrease in value by 3% if interest rates rise 1% and increase in value by 3% if interest rates fall 1%.

The Sub-Adviser assesses a broad range of economic data to develop plausible market scenarios as inputs to portfolio construction. The Fund’s portfolio alpha is expected to result primarily from active security analysis and sector weighting decisions. The Fund’s holdings are focused on the largest and most liquid credit issuers as well as a broad array of government agency holdings in an effort to produce superior risk-adjusted returns and liquidity across market scenarios. The Sub-Adviser’s tactical approach to duration is employed as a tool primarily for principal preservation, typically

operating within an 80% to 120% range versus the duration of the Bloomberg Index. The Bloomberg Index duration was 5.85 years as of October 31, 2023. The aggregate portfolio holdings are expected to generally have a maximum expected average life of 10 years or less.

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NMKBX - Performance

Return Ranking - Trailing

Period NMKBX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.3% -2.4% 12.8% 43.78%
1 Yr 14.8% -5.4% 26.6% 20.31%
3 Yr 0.1%* -10.0% 28.9% 4.80%
5 Yr N/A* -7.0% 59.3% N/A
10 Yr N/A* -2.4% 74.3% N/A

* Annualized

Return Ranking - Calendar

Period NMKBX Return Category Return Low Category Return High Rank in Category (%)
2023 2.1% -16.2% 8.1% 48.37%
2022 -11.3% -34.7% 131.9% 3.24%
2021 N/A -11.6% 4.4% N/A
2020 N/A -10.1% 946.1% N/A
2019 N/A -1.7% 16.9% N/A

Total Return Ranking - Trailing

Period NMKBX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.3% -2.4% 12.8% 43.78%
1 Yr 14.8% -5.4% 26.6% 20.31%
3 Yr 0.1%* -10.0% 28.9% 4.80%
5 Yr N/A* -7.0% 59.3% N/A
10 Yr N/A* -2.4% 74.3% N/A

* Annualized

Total Return Ranking - Calendar

Period NMKBX Return Category Return Low Category Return High Rank in Category (%)
2023 5.9% -11.3% 11.9% 54.08%
2022 -9.5% -32.2% 131.9% 3.76%
2021 N/A -9.4% 9.2% N/A
2020 N/A -1.9% 1009.0% N/A
2019 N/A 1.1% 21668.0% N/A

NAV & Total Return History


NMKBX - Holdings

Concentration Analysis

NMKBX Category Low Category High NMKBX % Rank
Net Assets 122 M 2.9 M 314 B 88.12%
Number of Holdings 345 1 17787 76.30%
Net Assets in Top 10 26.7 M 1.62 M 36.1 B 89.11%
Weighting of Top 10 19.41% 4.4% 432.9% 64.45%

Top 10 Holdings

  1. United States Treasury Note 3.81%
  2. United States Treasury Bond 4.25 02/15/54 3.00%
  3. United States Treasury Note 2.10%
  4. United States Treasury Bond 4.75 11/15/53 2.00%
  5. United States Treasury Note/Bond 1.99%
  6. Federal Farm Credit Banks Funding Corp 1.63%
  7. Federal National Mortgage Association 1.30%
  8. Freddie Mac REMICS 1.28%
  9. Fannie Mae Pool 1.19%
  10. International Bk for Reconstruction Development 1.12%

Asset Allocation

Weighting Return Low Return High NMKBX % Rank
Bonds
80.44% 0.00% 993.61% 90.56%
Other
14.63% -16.55% 52.94% 12.92%
Cash
4.93% -54.51% 237.69% 31.74%
Convertible Bonds
1.80% 0.00% 7.93% 36.68%
Stocks
0.00% 0.00% 99.99% 80.81%
Preferred Stocks
0.00% 0.00% 71.02% 78.64%

Bond Sector Breakdown

Weighting Return Low Return High NMKBX % Rank
Securitized
49.58% 0.00% 98.40% 13.52%
Corporate
25.91% 0.00% 100.00% 65.27%
Government
21.56% 0.00% 86.23% 58.40%
Cash & Equivalents
4.11% -0.46% 237.69% 37.54%
Derivative
0.00% -1.41% 44.82% 73.04%
Municipal
0.00% 0.00% 100.00% 90.88%

Bond Geographic Breakdown

Weighting Return Low Return High NMKBX % Rank
US
80.44% 0.00% 993.61% 89.22%
Non US
0.00% 0.00% 35.41% 80.87%

NMKBX - Expenses

Operational Fees

NMKBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.56% 0.01% 39.64% 64.93%
Management Fee 0.24% 0.00% 1.76% 13.26%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

NMKBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

NMKBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

NMKBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 2.00% 493.39% 82.95%

NMKBX - Distributions

Dividend Yield Analysis

NMKBX Category Low Category High NMKBX % Rank
Dividend Yield 4.36% 0.00% 10.11% 47.72%

Dividend Distribution Analysis

NMKBX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

NMKBX Category Low Category High NMKBX % Rank
Net Income Ratio 0.41% -1.28% 4.79% 97.43%

Capital Gain Distribution Analysis

NMKBX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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NMKBX - Fund Manager Analysis

Managers

Bryan Johanson


Start Date

Tenure

Tenure Rank

Dec 28, 2020

1.42

1.4%

Bryan Johanson joined C.S. McKee in 1994 as a fixed income portfolio manager and has held that position since that time. His primary responsibility is security selection within the corporate sector. He also provides input to the sector-allocation, duration and yield-curve decisions. Prior to joining to C.S. McKee, Mr. Johanson was a manager of mortgage-backed and asset backed securities for the Indiana Corporate Federal Credit Union from 1992 until joining McKee. Prior to that Mr. Johanson worked as an analyst for National City Bank from 1988 to 1992. A Chartered Financial Analyst, Mr. Johanson holds an MBA degree in Finance from Indiana University and a Bachelor's degree in Accounting from Bowling Green University.

Brian Allen


Start Date

Tenure

Tenure Rank

Dec 28, 2020

1.42

1.4%

Brian Allen joined C.S. McKee in 1999 as a fixed income portfolio manager and has held that position since that time. He is primarily responsible for investment decisions related to the mortgage-backed and asset-backed sectors. He also provides input to the sector-allocation, duration and yield-curve decisions. Prior to joining C.S. McKee, Mr. Allen managed fixed income funds for institutional clients at Patterson Capital Corporation in Los Angeles from 1993 until 1998. Prior to that Mr. Allen worked as an equity and fixed income manager for C&S/Sovran Trust Company from 1987 to 1991. A Chartered Financial Analyst, Mr. Allen holds an MBA degree in Finance from the Wharton School and a Bachelor's degree in Business Administration from James Madison University.

Andrew Faderewski


Start Date

Tenure

Tenure Rank

Dec 28, 2020

1.42

1.4%

Andrew Faderewski joined C.S. McKee in 2007 as a portfolio accountant and was promoted to fixed income analyst in 2008. His primary responsibilities include monitoring portfolio analytics, managing client reporting and compliance, and performing various economic and sector research. A Chartered Financial Analyst, Mr. Faderewski received his BS in Finance and Investment Management from Duquesne University.

Jack White


Start Date

Tenure

Tenure Rank

Dec 28, 2020

1.42

1.4%

Jack White joined C.S. McKee in 1997 as a fixed income analyst and was promoted to portfolio manager in 1999. His primary responsibility is to make investment decisions related to the government and structured securities sectors. He also provides input into the sector allocation, duration and yield-curve decisions. A Chartered Financial Analyst, Mr. White holds an MBA degree in Finance and a Bachelor's degree in Finance from Youngstown State University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.79 1.16