Name
As of 11/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
13.9%
1 yr return
29.1%
3 Yr Avg Return
3.1%
5 Yr Avg Return
2.0%
Net Assets
$62.9 M
Holdings in Top 10
36.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.95%
SALES FEES
Front Load 5.00%
Deferred Load N/A
TRADING FEES
Turnover 149.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
$5,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
OIOAX - Profile
Distributions
- YTD Total Return 13.9%
- 3 Yr Annualized Total Return 3.1%
- 5 Yr Annualized Total Return 2.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.76%
- Dividend Yield 6.6%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameAXS Income Opportunities Fund
-
Fund Family NameINVESTMENT MANAGERS SERIES TRUST II
-
Inception DateJun 28, 2013
-
Shares Outstanding288994
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerIan Goltra
Fund Description
Under normal market conditions, the Fund seeks to achieve its investment objectives by investing in U.S. and non-U.S. securities and investment instruments including, but not limited to, equity securities, debt securities, and derivatives. The Fund’s allocation to these various security types and asset classes will vary over time in response to changing market opportunities with the goal of maximizing current income. The Fund may invest without limit in foreign securities, and up to 50% of the Fund’s net assets may be invested in the securities of issuers located in emerging markets.
Emerging markets are those countries that are considered to be emerging markets or developing economies by the World Bank or the International Finance Corporation or are included in any of Morgan Stanley Capital International (MSCI) emerging market indices.
The Fund may invest without limit in equity securities of issuers of any market capitalization, and the Fund will generally invest in the equity securities of real estate investment trusts (“REITs”) and registered investment companies, including exchange-traded funds (“ETFs”). The Fund may also invest in the equity securities of master limited partnerships (“MLPs”). The types of equity securities in which the Fund will generally invest include common stock, preferred stock, rights, warrants, and depositary receipts. The Fund’s investments in depositary receipts may include American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”) and Global Depositary Receipts (“GDRs”). The Fund generally invests in dividend paying stocks. The Fund may invest up to 25% of its net assets in initial public offerings (“IPOs”).
The Fund generally invests at least 50% of its net assets in REITs. As a result of its investments in REITs, the Fund is concentrated in the real estate industry.
The Fund may invest without limit in debt securities, provided that no more than 30% of its net assets are invested in debt securities rated below investment grade (known as “junk bonds”). The types of debt securities in which the Fund may invest generally include instruments and obligations of U.S. and non-U.S. corporate and other non-governmental entities, those of U.S. and non-U.S. governmental entities, mortgage-related or mortgage-backed securities (including
“sub-prime” mortgages), asset-backed securities, exchange-traded notes (“ETNs”), floating rate loans, convertible securities, inflation-linked debt securities and subordinated debt securities. The Fund invests in debt securities of any duration and with a broad range of maturities, and the Fund’s investments may have fixed or variable principal payments.
The Fund may also invest in “Rule 144A” securities, which are privately placed, restricted securities that may only be resold under certain circumstances to other qualified institutional buyers.
The Fund may invest up to 85% of its net assets in derivatives, including options, futures (such as bond, index, interest rate and currency futures, but excluding commodities futures) and swaps (such as credit-default swaps, interest rate swaps and total return swaps). These derivative instruments may be used for investment purposes; to modify or hedge the Fund’s exposure to a particular investment or market related risk; to manage the volatility of the Fund; to hedge against adverse changes in the market price of securities, interest rates or currency exchange rates; and as a substitute for purchasing or selling securities.
The Fund may utilize leverage (by borrowing against a line of credit for investment purposes) equal to up to one-third of the value of its assets as part of the portfolio management process. The Fund may also sell securities short with respect to 100% of its net assets and may lend its portfolio securities to generate additional income. A short sale is the sale by the Fund of a security that it does not own in anticipation of purchasing the same security in the future at a lower price to close the short position.
From time to time, the Fund may have a significant portion of its assets in one or more market sectors. In pursuing its investment objectives, the Fund may engage in frequent trading.
The Advisor may sell all or a portion of a position in the Fund’s portfolio when, in its opinion, one or more of the following occurs, among other reasons: (1) the security or instrument has achieved its investment expectations; (2) the Advisor identifies more attractive investment opportunities for the Fund; or (3) the Fund requires cash to meet redemption requests.
OIOAX - Performance
Return Ranking - Trailing
Period | OIOAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 13.9% | 5.2% | 19.3% | 5.13% |
1 Yr | 29.1% | 10.6% | 31.3% | 3.85% |
3 Yr | 3.1%* | -7.6% | 6.4% | 6.94% |
5 Yr | 2.0%* | -4.7% | 11.4% | 70.59% |
10 Yr | 2.8%* | 0.9% | 5.1% | 70.83% |
* Annualized
Return Ranking - Calendar
Period | OIOAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 12.6% | -3.6% | 14.2% | 5.13% |
2022 | -26.0% | -29.4% | -9.6% | 95.83% |
2021 | 14.0% | -3.4% | 17.2% | 4.17% |
2020 | -24.4% | -24.8% | 9.0% | 97.10% |
2019 | 13.3% | 6.4% | 19.1% | 26.15% |
Total Return Ranking - Trailing
Period | OIOAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 13.9% | 5.2% | 19.3% | 5.13% |
1 Yr | 29.1% | 10.6% | 31.3% | 3.85% |
3 Yr | 3.1%* | -7.6% | 6.4% | 6.94% |
5 Yr | 2.0%* | -4.7% | 11.4% | 70.59% |
10 Yr | 2.8%* | 0.9% | 5.1% | 70.83% |
* Annualized
Total Return Ranking - Calendar
Period | OIOAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 21.3% | -1.9% | 26.5% | 3.85% |
2022 | -20.6% | -26.0% | -5.8% | 77.78% |
2021 | 21.1% | -2.5% | 27.4% | 4.17% |
2020 | -18.3% | -19.2% | 12.3% | 97.10% |
2019 | 20.9% | 10.0% | 32.0% | 13.85% |
NAV & Total Return History
OIOAX - Holdings
Concentration Analysis
OIOAX | Category Low | Category High | OIOAX % Rank | |
---|---|---|---|---|
Net Assets | 62.9 M | 24.1 M | 14.5 B | 97.44% |
Number of Holdings | 62 | 49 | 439 | 89.74% |
Net Assets in Top 10 | 20.8 M | 8.45 M | 1.89 B | 96.15% |
Weighting of Top 10 | 36.59% | 11.3% | 48.1% | 5.13% |
Top 10 Holdings
- RLJ Lodging Trust 5.85%
- AGNC Investment Corp. 5.30%
- Summit Hotel Properties, Inc. 3.78%
- Armada Hoffler Properties, Inc. 3.70%
- KKR Real Estate Finance Trust, Inc. 3.37%
- Annaly Capital Management, Inc. 3.34%
- Macerich Co. - REIT 2.98%
- DiamondRock Hospitality Co. 2.85%
- EPR Properties 2.81%
- American Homes 4 Rent 2.61%
Asset Allocation
Weighting | Return Low | Return High | OIOAX % Rank | |
---|---|---|---|---|
Preferred Stocks | 96.62% | 0.00% | 125.69% | 19.23% |
Cash | 1.66% | -0.02% | 11.04% | 65.38% |
Convertible Bonds | 0.16% | 0.00% | 31.65% | 81.33% |
Stocks | 0.00% | 0.00% | 29.42% | 100.00% |
Other | 0.00% | -4.41% | 10.15% | 80.77% |
Bonds | 0.00% | 0.00% | 97.75% | 100.00% |
OIOAX - Expenses
Operational Fees
OIOAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.95% | 0.05% | 4.46% | 3.90% |
Management Fee | 1.00% | 0.00% | 1.00% | 98.72% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 45.45% |
Administrative Fee | N/A | 0.01% | 0.55% | N/A |
Sales Fees
OIOAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 5.00% | 2.00% | 5.75% | 20.00% |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
OIOAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
OIOAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 149.00% | 12.00% | 199.00% | 97.06% |
OIOAX - Distributions
Dividend Yield Analysis
OIOAX | Category Low | Category High | OIOAX % Rank | |
---|---|---|---|---|
Dividend Yield | 6.59% | 0.00% | 9.59% | 10.26% |
Dividend Distribution Analysis
OIOAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
OIOAX | Category Low | Category High | OIOAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.76% | 0.88% | 7.54% | 95.95% |
Capital Gain Distribution Analysis
OIOAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 27, 2024 | $0.282 | OrdinaryDividend |
Mar 28, 2024 | $0.275 | OrdinaryDividend |
Dec 27, 2023 | $0.262 | OrdinaryDividend |
Sep 28, 2023 | $0.260 | OrdinaryDividend |
Jun 29, 2023 | $0.297 | OrdinaryDividend |
Mar 30, 2023 | $0.266 | OrdinaryDividend |
Dec 28, 2022 | $0.267 | OrdinaryDividend |
Sep 27, 2022 | $0.276 | OrdinaryDividend |
Jun 28, 2022 | $0.263 | OrdinaryDividend |
Mar 29, 2022 | $0.283 | OrdinaryDividend |
Dec 28, 2021 | $0.297 | OrdinaryDividend |
Sep 23, 2021 | $0.272 | OrdinaryDividend |
Jun 24, 2021 | $0.270 | OrdinaryDividend |
Mar 25, 2021 | $0.294 | OrdinaryDividend |
Dec 29, 2020 | $0.282 | OrdinaryDividend |
Sep 24, 2020 | $0.273 | OrdinaryDividend |
Jun 25, 2020 | $0.274 | OrdinaryDividend |
Mar 26, 2020 | $0.329 | OrdinaryDividend |
Dec 27, 2019 | $0.340 | OrdinaryDividend |
Sep 27, 2019 | $0.341 | OrdinaryDividend |
Jun 27, 2019 | $0.376 | OrdinaryDividend |
Mar 27, 2019 | $0.375 | OrdinaryDividend |
Dec 26, 2018 | $0.378 | OrdinaryDividend |
Sep 25, 2018 | $0.370 | OrdinaryDividend |
Jun 26, 2018 | $0.418 | OrdinaryDividend |
Mar 27, 2018 | $0.407 | OrdinaryDividend |
Dec 27, 2017 | $0.399 | OrdinaryDividend |
Sep 27, 2017 | $0.039 | OrdinaryDividend |
Jun 27, 2017 | $0.421 | OrdinaryDividend |
Mar 28, 2017 | $0.426 | OrdinaryDividend |
Sep 27, 2016 | $0.448 | OrdinaryDividend |
Jun 27, 2016 | $0.418 | OrdinaryDividend |
Mar 28, 2016 | $0.416 | OrdinaryDividend |
Dec 29, 2015 | $0.414 | OrdinaryDividend |
Sep 25, 2015 | $0.388 | OrdinaryDividend |
Jun 26, 2015 | $0.374 | OrdinaryDividend |
Mar 27, 2015 | $0.384 | OrdinaryDividend |
Dec 26, 2014 | $0.379 | OrdinaryDividend |
Dec 26, 2014 | $0.007 | CapitalGainLongTerm |
Sep 26, 2014 | $0.356 | OrdinaryDividend |
Jun 27, 2014 | $0.358 | OrdinaryDividend |
Mar 28, 2014 | $0.475 | OrdinaryDividend |
Dec 27, 2013 | $0.448 | OrdinaryDividend |
Dec 27, 2013 | $0.040 | CapitalGainShortTerm |
Dec 27, 2013 | $0.003 | CapitalGainLongTerm |
OIOAX - Fund Manager Analysis
Managers
Ian Goltra
Start Date
Tenure
Tenure Rank
Sep 01, 2016
5.75
5.8%
Ian Goltra is a Portfolio Manager of Orinda Asset Management LLC. From March 2010 to July 2016, Mr. Goltra served as a portfolio manager at Salient Partners (formerly, Forward Management LLC) after joining the company as a Senior Analyst in June 2009. From May 1998 to June 2009, Mr. Goltra was Senior Analyst and Senior Vice President of Kensington Investment Group, Inc., and he became a Senior Vice President of Kensington in 2004, focusing on the public real estate sector. From 1993 to 1998, Mr. Goltra was Senior Financial Analyst and Western Americas Vice President at Textainer Equipment Management. From 1991 to 1993, Mr. Goltra was Senior Financial Analyst for Meridian Point Properties, and from 1987 to 1990, he was an Analyst at Liquidity Fund Investment Corporation.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.09 | 30.32 | 7.8 | 11.42 |