Zacks Small-Cap Core Fund
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
9.8%
1 yr return
24.3%
3 Yr Avg Return
6.6%
5 Yr Avg Return
10.7%
Net Assets
$34.2 M
Holdings in Top 10
18.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.42%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 116.00%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$5,000
IRA
$2,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
ZSCIX - Profile
Distributions
- YTD Total Return 9.8%
- 3 Yr Annualized Total Return 6.6%
- 5 Yr Annualized Total Return 10.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.30%
- Dividend Yield 4.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameZacks Small-Cap Core Fund
-
Fund Family NameINVESTMENT MANAGERS SERIES TRUST
-
Inception DateJun 30, 2011
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMitch Zacks
Fund Description
The Fund pursues its investment objective by applying a hybrid research process which uses both quantitative and qualitative criteria. Zacks Investment Management, Inc. (the “Advisor”) uses a proprietary model to quantitatively assess the attractiveness of a large universe of stocks based on potential capital appreciation. The primary aim of the quantitative model is to identify those companies most likely to generate positive alpha, or excess return over the market, when adjusted for stock beta, or movement with the market. From a smaller universe of stocks that are highly ranked by the quantitative model, the portfolio manager selects small-cap stocks with attractive risk/return characteristics based on qualitative criteria. Portfolio construction incorporates risk controls.
Under normal circumstances, the Fund will invest at least 80% of its net assets (including amounts borrowed for investment purposes) in a diversified portfolio of equity securities of small capitalization companies, with an emphasis on equity securities of U.S. issuers. The Fund’s investments in equity securities may include common stock, preferred stock and convertible securities. The Fund considers small capitalization companies to be companies within the range of those companies included in the Russell 2000 Index at the time of purchase. Because small capitalization companies are defined by reference to an index, the range of market capitalization companies in which the Fund invests may vary with market conditions. As of May 31, 2022, the market capitalizations of companies included in the Russell 2000 Index were between $14.6 million and $14.5 billion. The Russell 2000 Index is reconstituted annually, typically on May 31 of each year, to seek to ensure that larger stocks do not distort the performance and characteristics of the Index and that the represented companies continue to reflect small capitalization characteristics.
The Fund is designed to be a “core” fund that seeks to combine both value and growth characteristics within the small-cap universe. The Fund seeks to diversify its assets by investing in securities from a pool of more than one dozen industry sectors. The Advisor allocates assets opportunistically based on market information and is not constrained by investment style parameters. Sector and style allocations generally result from a hybrid research process using quantitative and qualitative criteria. The Fund may engage in short-sale transactions up to 25% of its net assets. The Fund’s investment strategy involves active and frequent trading. In addition, the Fund may lend its portfolio securities to broker-dealers and other institutions as a means of earning additional income.
Under normal circumstances, the Fund invests primarily in equity securities of U.S. issuers. The Fund also may invest in equity securities of Canadian issuers and American Depository Receipts (“ADRs”). ADRs are receipts that represent interests in foreign securities held on deposit by U.S. banks.
ZSCIX - Performance
Return Ranking - Trailing
Period | ZSCIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.8% | -18.2% | 30.9% | 46.14% |
1 Yr | 24.3% | -24.0% | 45.0% | 64.78% |
3 Yr | 6.6%* | -12.5% | 43.8% | 12.09% |
5 Yr | 10.7%* | -12.1% | 35.2% | 40.48% |
10 Yr | 9.4%* | -2.4% | 18.4% | 22.77% |
* Annualized
Return Ranking - Calendar
Period | ZSCIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.1% | -19.9% | 29.0% | 54.82% |
2022 | -12.4% | -59.3% | 118.2% | 6.84% |
2021 | 29.6% | -31.6% | 39.3% | 2.90% |
2020 | -1.2% | -51.0% | 39.5% | 92.48% |
2019 | 21.1% | -5.6% | 37.8% | 48.76% |
Total Return Ranking - Trailing
Period | ZSCIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 9.8% | -18.2% | 30.9% | 46.14% |
1 Yr | 24.3% | -24.0% | 45.0% | 64.78% |
3 Yr | 6.6%* | -12.5% | 43.8% | 12.09% |
5 Yr | 10.7%* | -12.1% | 35.2% | 40.48% |
10 Yr | 9.4%* | -2.4% | 18.4% | 22.77% |
* Annualized
Total Return Ranking - Calendar
Period | ZSCIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 18.2% | -11.7% | 31.8% | 26.28% |
2022 | -11.6% | -45.2% | 123.7% | 13.50% |
2021 | 33.0% | 0.0% | 47.7% | 5.21% |
2020 | -1.2% | -50.5% | 46.9% | 96.83% |
2019 | 21.5% | 2.1% | 40.9% | 82.23% |
NAV & Total Return History
ZSCIX - Holdings
Concentration Analysis
ZSCIX | Category Low | Category High | ZSCIX % Rank | |
---|---|---|---|---|
Net Assets | 34.2 M | 529 K | 145 B | 94.36% |
Number of Holdings | 99 | 2 | 2445 | 65.98% |
Net Assets in Top 10 | 5.86 M | 120 K | 9.87 B | 95.11% |
Weighting of Top 10 | 18.47% | 3.5% | 100.1% | 43.40% |
Top 10 Holdings
- Alamo Group, Inc. 1.97%
- Applied Industrial Technologies, Inc. 1.93%
- Simpson Manufacturing Co., Inc. 1.93%
- Albany International Corp. - Class A 1.85%
- Thermon Group Holdings, Inc. 1.84%
- GMS, Inc. 1.81%
- CSW Industrials, Inc. 1.80%
- Forestar Group, Inc. 1.80%
- HBT Financial, Inc. 1.77%
- Employers Holdings, Inc. 1.77%
Asset Allocation
Weighting | Return Low | Return High | ZSCIX % Rank | |
---|---|---|---|---|
Stocks | 95.89% | 7.51% | 107.74% | 85.34% |
Cash | 0.07% | 0.00% | 42.24% | 93.23% |
Preferred Stocks | 0.00% | 0.00% | 6.06% | 87.78% |
Other | 0.00% | -0.13% | 49.08% | 89.29% |
Convertible Bonds | 0.00% | 0.00% | 3.17% | 87.19% |
Bonds | 0.00% | 0.00% | 87.66% | 87.59% |
Stock Sector Breakdown
Weighting | Return Low | Return High | ZSCIX % Rank | |
---|---|---|---|---|
Financial Services | 25.24% | 0.00% | 35.52% | 3.61% |
Industrials | 22.31% | 2.46% | 37.42% | 16.16% |
Technology | 10.91% | 0.00% | 43.95% | 85.55% |
Healthcare | 10.13% | 0.00% | 26.53% | 74.71% |
Consumer Cyclical | 9.28% | 0.99% | 47.79% | 76.81% |
Energy | 7.49% | 0.00% | 37.72% | 22.81% |
Basic Materials | 4.95% | 0.00% | 18.66% | 44.68% |
Utilities | 4.04% | 0.00% | 18.58% | 15.78% |
Real Estate | 3.09% | 0.00% | 29.43% | 89.92% |
Communication Services | 1.59% | 0.00% | 14.85% | 77.38% |
Consumer Defense | 0.96% | 0.00% | 18.87% | 97.72% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | ZSCIX % Rank | |
---|---|---|---|---|
US | 95.89% | 4.48% | 107.74% | 79.51% |
Non US | 0.00% | 0.00% | 94.62% | 88.72% |
ZSCIX - Expenses
Operational Fees
ZSCIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.42% | 0.01% | 38.30% | 23.02% |
Management Fee | 0.90% | 0.00% | 1.50% | 86.60% |
12b-1 Fee | N/A | 0.00% | 1.00% | 60.13% |
Administrative Fee | N/A | 0.01% | 0.45% | 55.71% |
Sales Fees
ZSCIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
ZSCIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 1.00% | 2.00% | 60.87% |
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.
ZSCIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 116.00% | 1.00% | 314.00% | 91.29% |
ZSCIX - Distributions
Dividend Yield Analysis
ZSCIX | Category Low | Category High | ZSCIX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.01% | 0.00% | 42.47% | 10.34% |
Dividend Distribution Analysis
ZSCIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annual | Quarterly | Annual |
Net Income Ratio Analysis
ZSCIX | Category Low | Category High | ZSCIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.30% | -2.40% | 2.49% | 40.11% |
Capital Gain Distribution Analysis
ZSCIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 18, 2023 | $1.524 | OrdinaryDividend |
Dec 13, 2022 | $0.239 | OrdinaryDividend |
Jun 29, 2022 | $0.035 | OrdinaryDividend |
Dec 14, 2021 | $0.873 | OrdinaryDividend |
Mar 30, 2020 | $0.016 | OrdinaryDividend |
Dec 12, 2019 | $0.107 | OrdinaryDividend |
Dec 13, 2018 | $1.041 | CapitalGainShortTerm |
Dec 13, 2018 | $1.361 | CapitalGainLongTerm |
Dec 19, 2017 | $1.962 | CapitalGainShortTerm |
Dec 19, 2017 | $1.813 | CapitalGainLongTerm |
Mar 30, 2017 | $0.007 | CapitalGainLongTerm |
Dec 19, 2016 | $0.154 | CapitalGainLongTerm |
Dec 18, 2014 | $0.237 | CapitalGainShortTerm |
Dec 18, 2014 | $0.844 | CapitalGainLongTerm |
ZSCIX - Fund Manager Analysis
Managers
Mitch Zacks
Start Date
Tenure
Tenure Rank
Jun 30, 2011
10.93
10.9%
Mitch is the senior portfolio manager at Zacks Investment Management and oversees all investment research activities at the firm. Mitch is an expert on quantitative investment strategies and developed many of the proprietary models used by the firm. Mitch wrote a weekly finance column for the Chicago Sun- Times and has written two books on quantitative investment strategies: Ahead of the Market, Harper Collins 2003, which focuses on the earnings estimate revision investment anomaly and The Little Book of Stock Market Profits, which was published in 2011 and provides an overview of several other significant equity investment anomalies. Prior to joining Zacks Investment Management in 1997, Mitch was an investment banking analyst at Lazard Freres in New York. Mitch graduated cum laude from Yale University with distinction in his major of Economics. He received his M.B.A with high honors in his concentration of Analytic Finance and Statistics from the University of Chicago.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 49.61 | 7.18 | 2.58 |