ALPS/Smith Total Return Bond Fund
Name
As of 05/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-2.2%
1 yr return
-0.5%
3 Yr Avg Return
-3.5%
5 Yr Avg Return
0.0%
Net Assets
$2.73 B
Holdings in Top 10
33.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.70%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SMCHX - Profile
Distributions
- YTD Total Return -2.2%
- 3 Yr Annualized Total Return -3.5%
- 5 Yr Annualized Total Return 0.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.83%
- Dividend Yield 3.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameALPS/Smith Total Return Bond Fund
-
Fund Family NameALPS Advised Funds
-
Inception DateJun 29, 2018
-
Shares Outstanding512820
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerGibson Smith
Fund Description
The Fund pursues its investment objective by primarily investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in bonds. Bonds include, but are not limited to, government notes and bonds, corporate bonds, convertible bonds, commercial and residential mortgage-backed securities, and zero-coupon bonds. The Fund will target a weighted average effective duration +/- 30% of the current effective duration of the Bloomberg Barclays U.S. Aggregate Bond Index. The Fund does not intend to invest in contingent convertible bonds.
The Fund may also invest in asset-backed securities, money market instruments, commercial loans, and foreign debt securities (including investments in emerging markets). Investments in high yield/high risk bonds (also known as “junk” bonds) are expected to represent, under normal market conditions, less than 20% of the Fund’s net assets. The Fund has the flexibility to invest up to 35% of its net assets in such instruments to allow the Fund to take advantage of opportunities in the market that meet the overall investment criteria, but that may temporarily increase the proportion of high yield investments in the Fund. Under normal market conditions, investments in non-agency mortgage-backed securities are expected to comprise not more than 20% of the Fund’s net assets and investments in non-agency commercial mortgage-backed securities are expected to be less than 5% of the Fund’s net assets. The Fund’s investments in agency mortgage-backed securities are generally not subject to limitation, except to the extent such investments would be inconsistent with another stated investment strategy or policy.
The Fund seeks to generate total return from a combination of current income and capital appreciation, but income is usually the dominant portion. In selecting securities, Smith Capital Investors considers many factors, including yield, credit ratings, liquidity, call risk, duration, structure, and capital appreciation potential. Due to the nature of the process and the securities in which the Fund invests, it may have relatively high portfolio turnover compared to other funds.
Though the Fund does not typically expect to use derivatives, for purposes of meeting its policy to invest at least 80% of net assets in bonds, the Fund may include derivatives that have characteristics similar to the securities in which the Fund may directly invest. In addition to considering economic factors such as the effect of interest rates on the Fund’s investments, the portfolio manager typically applies a “bottom up” approach in choosing investments. This means that the portfolio manager looks at income producing securities one at a time to determine if a security is an attractive investment opportunity and if it is consistent with the Fund’s investment policies. The portfolio manager additionally considers the expected risk-adjusted return on a particular investment and the Fund’s overall risk allocations and volatility.
SMCHX - Performance
Return Ranking - Trailing
Period | SMCHX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.2% | -10.7% | 2.9% | 48.00% |
1 Yr | -0.5% | -11.2% | 12.9% | 44.41% |
3 Yr | -3.5%* | -11.1% | 24.7% | 49.63% |
5 Yr | 0.0%* | -7.1% | 190.3% | 51.14% |
10 Yr | N/A* | -2.7% | 73.2% | N/A |
* Annualized
Return Ranking - Calendar
Period | SMCHX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 1.9% | -16.2% | 8.1% | 60.34% |
2022 | -14.8% | -34.7% | 131.9% | 16.63% |
2021 | -2.5% | -11.6% | 4.4% | 17.15% |
2020 | 5.8% | -10.1% | 946.1% | 17.29% |
2019 | 6.2% | -1.7% | 16.9% | 29.16% |
Total Return Ranking - Trailing
Period | SMCHX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.2% | -10.7% | 2.9% | 48.00% |
1 Yr | -0.5% | -11.2% | 12.9% | 44.41% |
3 Yr | -3.5%* | -11.1% | 24.7% | 49.63% |
5 Yr | 0.0%* | -7.1% | 190.3% | 51.14% |
10 Yr | N/A* | -2.7% | 73.2% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | SMCHX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.2% | -11.3% | 11.0% | 79.02% |
2022 | -13.1% | -32.2% | 131.9% | 32.55% |
2021 | -1.5% | -9.4% | 9.2% | 68.05% |
2020 | 8.6% | -1.9% | 1009.0% | 42.40% |
2019 | 7.7% | 1.1% | 21668.0% | 78.42% |
NAV & Total Return History
SMCHX - Holdings
Concentration Analysis
SMCHX | Category Low | Category High | SMCHX % Rank | |
---|---|---|---|---|
Net Assets | 2.73 B | 2.9 M | 314 B | 35.79% |
Number of Holdings | 1634 | 1 | 17889 | 25.27% |
Net Assets in Top 10 | 956 M | -106 M | 34.8 B | 28.67% |
Weighting of Top 10 | 33.51% | 4.4% | 134.1% | 27.34% |
Top 10 Holdings
- U.S. Treasury Bond 4.68%
- U.S. Treasury Note 4.10%
- U.S. Treasury Bond 4.06%
- U.S. Treasury Bond 4.01%
- U.S. Treasury Bond 4.00%
- U.S. Treasury Note 3.39%
- Morgan Stanley Institutional Liquidity Funds - Government Portfolio 2.78%
- U.S. Treasury Note 2.19%
- U.S. Treasury Note 2.19%
- U.S. Treasury Note 2.12%
Asset Allocation
Weighting | Return Low | Return High | SMCHX % Rank | |
---|---|---|---|---|
Bonds | 96.61% | 0.00% | 215.98% | 40.78% |
Cash | 2.84% | -54.51% | 79.52% | 49.55% |
Convertible Bonds | 1.55% | 0.00% | 7.93% | 46.33% |
Preferred Stocks | 0.55% | 0.00% | 74.68% | 8.39% |
Stocks | 0.00% | 0.00% | 99.83% | 89.43% |
Other | 0.00% | -13.23% | 50.66% | 92.41% |
Bond Sector Breakdown
Weighting | Return Low | Return High | SMCHX % Rank | |
---|---|---|---|---|
Corporate | 50.57% | 0.00% | 100.00% | 8.74% |
Government | 31.57% | 0.00% | 86.23% | 33.97% |
Securitized | 15.41% | 0.00% | 98.40% | 88.84% |
Cash & Equivalents | 2.78% | 0.00% | 76.23% | 46.95% |
Derivative | 0.00% | -9.72% | 50.66% | 80.72% |
Municipal | 0.00% | 0.00% | 100.00% | 96.28% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | SMCHX % Rank | |
---|---|---|---|---|
US | 96.61% | 0.00% | 215.98% | 36.66% |
Non US | 0.00% | 0.00% | 33.48% | 90.31% |
SMCHX - Expenses
Operational Fees
SMCHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.70% | 0.01% | 39.10% | 5.84% |
Management Fee | 0.55% | 0.00% | 1.00% | 94.15% |
12b-1 Fee | 0.75% | 0.00% | 1.00% | 81.95% |
Administrative Fee | N/A | 0.01% | 0.50% | N/A |
Sales Fees
SMCHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.00% | 5.75% | N/A |
Deferred Load | 1.00% | 1.00% | 5.00% | 89.90% |
Trading Fees
SMCHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 44.00% |
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.
SMCHX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 2.00% | 493.39% | 86.50% |
SMCHX - Distributions
Dividend Yield Analysis
SMCHX | Category Low | Category High | SMCHX % Rank | |
---|---|---|---|---|
Dividend Yield | 3.73% | 0.00% | 10.21% | 67.90% |
Dividend Distribution Analysis
SMCHX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
SMCHX | Category Low | Category High | SMCHX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.83% | -1.28% | 4.79% | 92.43% |
Capital Gain Distribution Analysis
SMCHX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Apr 26, 2024 | $0.029 | OrdinaryDividend |
Mar 22, 2024 | $0.026 | OrdinaryDividend |
Feb 23, 2024 | $0.030 | OrdinaryDividend |
Jan 26, 2024 | $0.027 | OrdinaryDividend |
Dec 26, 2023 | $0.028 | OrdinaryDividend |
Nov 17, 2023 | $0.027 | OrdinaryDividend |
Oct 27, 2023 | $0.028 | OrdinaryDividend |
Sep 29, 2023 | $0.028 | OrdinaryDividend |
Aug 25, 2023 | $0.026 | OrdinaryDividend |
Jul 28, 2023 | $0.027 | OrdinaryDividend |
Jun 30, 2023 | $0.027 | OrdinaryDividend |
May 26, 2023 | $0.025 | OrdinaryDividend |
Apr 28, 2023 | $0.024 | OrdinaryDividend |
Mar 31, 2023 | $0.023 | OrdinaryDividend |
Feb 24, 2023 | $0.017 | OrdinaryDividend |
Jan 27, 2023 | $0.023 | OrdinaryDividend |
Dec 27, 2022 | $0.020 | OrdinaryDividend |
Nov 18, 2022 | $0.018 | OrdinaryDividend |
Oct 28, 2022 | $0.022 | OrdinaryDividend |
Sep 30, 2022 | $0.014 | OrdinaryDividend |
Aug 26, 2022 | $0.015 | OrdinaryDividend |
Jul 27, 2022 | $0.018 | OrdinaryDividend |
Jun 23, 2022 | $0.013 | OrdinaryDividend |
May 26, 2022 | $0.016 | OrdinaryDividend |
Apr 27, 2022 | $0.015 | OrdinaryDividend |
Mar 24, 2022 | $0.011 | OrdinaryDividend |
Feb 24, 2022 | $0.017 | OrdinaryDividend |
Jan 28, 2022 | $0.017 | OrdinaryDividend |
Dec 27, 2021 | $0.011 | OrdinaryDividend |
Nov 19, 2021 | $0.013 | OrdinaryDividend |
Oct 28, 2021 | $0.012 | OrdinaryDividend |
Sep 24, 2021 | $0.008 | OrdinaryDividend |
Aug 27, 2021 | $0.009 | OrdinaryDividend |
Jul 30, 2021 | $0.008 | OrdinaryDividend |
Jun 25, 2021 | $0.007 | OrdinaryDividend |
May 28, 2021 | $0.009 | OrdinaryDividend |
Apr 29, 2021 | $0.007 | OrdinaryDividend |
Mar 26, 2021 | $0.009 | OrdinaryDividend |
Feb 26, 2021 | $0.007 | OrdinaryDividend |
Jan 29, 2021 | $0.008 | OrdinaryDividend |
Nov 20, 2020 | $0.009 | OrdinaryDividend |
Oct 29, 2020 | $0.009 | OrdinaryDividend |
Sep 25, 2020 | $0.008 | OrdinaryDividend |
Aug 28, 2020 | $0.010 | OrdinaryDividend |
Jul 31, 2020 | $0.012 | OrdinaryDividend |
Jun 26, 2020 | $0.012 | OrdinaryDividend |
May 29, 2020 | $0.008 | OrdinaryDividend |
Apr 24, 2020 | $0.007 | OrdinaryDividend |
Mar 27, 2020 | $0.008 | OrdinaryDividend |
Feb 28, 2020 | $0.010 | OrdinaryDividend |
Jan 31, 2020 | $0.006 | OrdinaryDividend |
Nov 21, 2019 | $0.009 | OrdinaryDividend |
Oct 24, 2019 | $0.010 | OrdinaryDividend |
Sep 26, 2019 | $0.010 | OrdinaryDividend |
Aug 29, 2019 | $0.014 | OrdinaryDividend |
Jul 25, 2019 | $0.011 | OrdinaryDividend |
Jun 27, 2019 | $0.013 | OrdinaryDividend |
May 30, 2019 | $0.005 | OrdinaryDividend |
Apr 25, 2019 | $0.015 | OrdinaryDividend |
SMCHX - Fund Manager Analysis
Managers
Gibson Smith
Start Date
Tenure
Tenure Rank
Jun 29, 2018
3.92
3.9%
Mr. Smith is the Chief Investment Officer of Smith Capital Investors, LLC. Prior to his association with Smith Capital Investors, Mr. Smith was with Janus Capital from 2001 until March 2016. He served as the Chief Investment Officer of Fixed Income for Janus Capital from 2006 to 2016. Mr. Smith holds a Bachelor’s degree in Economics from the University of Colorado.
Eric Bernum
Start Date
Tenure
Tenure Rank
Apr 10, 2019
3.14
3.1%
Mr. Bernum is an Investor with Smith Capital Investors, LLC, and has served as portfolio manager of the Funds since 2019. Prior to his association with Smith Capital Investors, Mr. Bernum was an Executive Director, Senior Portfolio Manager at J.P. Morgan Asset Management from 2017 to 2018. Before that, Mr. Bernum was at Janus Capital Group from 2004 to 2017 holding various positions including Assistant Portfolio Manager and the Co-Head of Global Fixed Income Trading. Mr. Bernum holds a Bachelor’s degree in Finance from Colorado State University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 33.43 | 6.81 | 1.16 |