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HSSAX Emerald Banking and Finance A

  • Fund
  • HSSAX
  • Price as of: Mar 22, 2019
  • $29.75
  • - $1.24
  • - 4.00%
  • Category
  • Financials Equities

HSSAX - Profile

Vitals

  • YTD Return 2.4%
  • 3 Yr Annualized Return -0.1%
  • 5 Yr Annualized Return 1.3%
  • Net Assets $371 M
  • Holdings in Top 10 27.6%

52 WEEK LOW AND HIGH

$29.75
$27.73
$50.14

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.41%

SALES FEES

  • Front Load 4.75%
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 62.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$2,000

IRA

N/A

Investment Themes

CATEGORY

Financials Equities
  • Fund Type Open End Mutual Fund
  • Investment Style Financial

Distributions

  • YTD Total Return 2.4%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.65%
DIVIDENDS
  • Dividend Yield N/A
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Emerald Banking and Finance Fund
  • Fund Family Name Emerald
  • Inception Date Feb 18, 1997
  • Shares Outstanding 2838630
  • Share Class A
  • Currency USD
  • Domiciled Country United States
  • Manager Steven E. Russell

Fund Description

The fund has adopted an investment policy that it will, under normal conditions, invest at least 80% of the value of its assets (net assets plus the amount of any borrowings for investment purposes) in stocks (both common and preferred) of companies principally engaged in the banking or financial services industries. It will usually emphasize small or medium market capitalization companies: those with a market capitalization of less than $1.5 billion.

HSSAX - Performance

Return Ranking - Trailing

Period HSSAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 2.4% -37.9% 15.9% 84.29% 5
1 Yr -36.3% -91.8% 20.0% 95.71% 5
3 Yr -0.1% * -51.2% 17.9% 88.24% 5
5 Yr 1.3% * -35.4% 16.0% 57.58% 3
10 Yr 9.6% * -12.3% 17.3% 44.07% 3

* Annualized


Return Ranking - Calendar

Period HSSAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -36.0% -92.5% 12.3% 88.41% 5
2017 9.6% -7.7% 46.5% 76.47% 4
2016 28.1% -4.6% 33.5% 7.35% 1
2015 14.7% -15.2% 27.7% 4.41% 1
2014 7.1% -24.8% 46.8% 32.35% 2

Total Return Ranking - Trailing

Period HSSAX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 2.4% -37.9% 15.9% 84.29% 5
1 Yr -36.3% -91.8% 39.9% 95.71% 5
3 Yr -0.1% * -51.2% 120.2% 88.24% 5
5 Yr 1.3% * -35.0% 16.0% 62.12% 4
10 Yr 9.6% * -10.8% 35.1% 82.76% 5

* Annualized


Total Return Ranking - Calendar

Period HSSAX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -36.0% -92.5% 12.3% 88.41% 5
2017 9.6% -7.7% 46.5% 76.47% 4
2016 28.1% -3.5% 34.4% 7.35% 1
2015 14.7% -12.1% 38.4% 4.41% 1
2014 7.1% -17.9% 48.7% 47.06% 3

NAV & Total Return History

HSSAX - Holdings

Filings data as of: Jan 31, 2019

Concentration Analysis

HSSAX Category Low Category High HSSAX % Rank Quintile
Net Assets 371 M 1.38 M 7.76 B 15.71% 2
Number of Holdings 84 24 413 12.86% 3
Net Assets in Top 10 100 M 632 K 3.31 B 18.57% 2
Weighting of Top 10 27.6% 18.6% 61.7% 38.57% 5

Top 10 Holdings

  1. Merchants Bancorp 2.69%
  2. Triumph Bancorp Inc 2.70%
  3. SVB Financial Group 3.05%
  4. CBTX Inc 3.18%
  5. Bank of N.T Butterfield & Son Ltd 2.61%
  6. Meta Financial Group Inc 2.92%
  7. Innovative Industrial Properties Inc A 3.70%
  8. Servisfirst Bancshares Inc 2.26%
  9. CURO Group Holdings Corp 2.26%
  10. Mercantil Bank Holding Corp Ordinary Shares - Class A 2.22%

Asset Allocation

Weighting Category Low Category High HSSAX % Rank Quintile
Stocks
100.31% 46.49% 100.31% 1.43% 1
Preferred Stocks
0.00% 0.00% 0.30% 7.14% 4
Other
0.00% -1.31% 5.35% 7.14% 3
Convertible Bonds
0.00% 0.00% 0.44% 2.86% 4
Bonds
0.00% 0.00% 1.15% 5.71% 4
Cash
-0.31% -0.31% 47.86% 41.43% 5

Stock Sector Breakdown

Weighting Category Low Category High HSSAX % Rank Quintile
Financial Services
93.74% 12.78% 99.43% 14.29% 2
Real Estate
3.87% 0.00% 30.24% 17.14% 2
Technology
1.86% 0.00% 5.47% 10.00% 2
Basic Materials
0.83% 0.00% 2.96% 2.86% 1
Utilities
0.00% 0.00% 0.00% 1.43% 4
Industrials
0.00% 0.00% 6.74% 22.86% 4
Healthcare
0.00% 0.00% 2.82% 2.86% 4
Energy
0.00% 0.00% 0.00% 1.43% 4
Communication Services
0.00% 0.00% 3.62% 5.71% 4
Consumer Defense
0.00% 0.00% 0.03% 2.86% 4
Consumer Cyclical
0.00% 0.00% 1.29% 11.43% 4

Stock Geographic Breakdown

Weighting Category Low Category High HSSAX % Rank Quintile
US
97.98% 40.48% 99.17% 7.14% 1
Non US
2.33% 0.00% 52.15% 27.14% 4

HSSAX - Expenses

Operational Fees

HSSAX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.41% 0.10% 7.35% 48.57% 3
Management Fee 0.92% 0.09% 1.25% 4.29% 4
12b-1 Fee 0.35% 0.00% 1.00% 9.80% 3
Administrative Fee N/A 0.04% 0.25% N/A N/A

Sales Fees

HSSAX Fees (% of AUM) Category Low Category High HSSAX Rank Quintile
Front Load 4.75% 3.50% 5.75% 19.05% 2
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

HSSAX Fees (% of AUM) Category Low Category High HSSAX Rank Quintile
Max Redemption Fee N/A 0.75% 2.00% N/A N/A

Turnover 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.

HSSAX Fees (% of AUM) Category Low Category High HSSAX Rank Quintile
Turnover 62.00% 3.00% 907.00% 10.00% 4

HSSAX - Distributions

Dividend Yield Analysis

HSSAX Category Low Category High HSSAX % Rank Quintile
Dividend Yield N/A 0.00% 1.68% N/A N/A

Dividend Distribution Analysis

HSSAX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

HSSAX Category Low Category High HSSAX % Rank Quintile
Net Income Ratio -0.65% -2.28% 1.87% 75.71% 5

Capital Gain Distribution Analysis

HSSAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

HSSAX - Managers

Steven E. Russell

Manager

Start Date

Mar 15, 2012

Tenure

6.96

Tenure Rank

13.8%

Mr. Russell is an Assistant Vice President for Emerald and Assistant Vice President of Emerald Advisers, Inc. Prior to re-joining Emerald Advisers, Inc. in 2005, Mr. Russell founded a registered investment adviser and served as Managing Director of a private equity firm. Mr. Russell served as a portfolio manager and officer of Emerald Advisers, Inc. from 1998 to 2004. He has also served as a portfolio manager for the Pennsylvania Public School Employee’s Retirement System.


Kenneth G. Mertz

Manager

Start Date

Feb 18, 1997

Tenure

22.04

Tenure Rank

1.5%

Mr. Mertz has been the Chief Investment Officer & President of Emerald since 2005 and of Emerald Advisers,LLC since October 1992. Before joining Emerald, Mr. Mertz was the Chief Investment Officer to the Pennsylvania State Employees’ Retirement System. Mertz holds the Chartered Financial Analyst designation.


Tenure Analysis

Category Low

0.2

Category High

22.2

Category Average

8.52

Category Mode

4.2