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Trending ETFs

Name

As of 03/26/2024

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

$22.24

$102 M

33.74%

$7.48

1.39%

Vitals

YTD Return

5.0%

1 yr return

8.6%

3 Yr Avg Return

4.7%

5 Yr Avg Return

7.2%

Net Assets

$102 M

Holdings in Top 10

67.4%

52 WEEK LOW AND HIGH

$22.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.39%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 162.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

$22.24

$102 M

33.74%

$7.48

1.39%

QGLDX - Profile

Distributions

  • YTD Total Return 5.0%
  • 3 Yr Annualized Total Return 4.7%
  • 5 Yr Annualized Total Return 7.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.67%
DIVIDENDS
  • Dividend Yield 33.7%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    The Gold Bullion Strategy Fund
  • Fund Family Name
    Quantified Funds
  • Inception Date
    Jul 09, 2013
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jerry Wagner

Fund Description

The Fund’s Adviser delegates execution of the Fund’s investment strategy to the Sub-Adviser. Under normal circumstances, the Fund will invest primarily in Gold bullion-related (1) exchange-traded funds (“ETFs”); (2) exchange-traded notes (“ETNs”); (3) exchange-traded futures contracts; (4) over-the-counter forward contracts and (5) fixed income securities, including through mutual funds and ETFs that invest primarily in fixed income securities.

Gold bullion-related ETFs are those that invest primarily in (i) physical Gold bullion and/or (ii) over-the-counter or exchange-traded derivatives on Gold bullion such as forward contracts, futures contracts, and options contracts or swap contracts. Gold bullion related ETNs are those with interest and/or principal payments linked to the price of Gold bullion. Derivatives are primarily used as substitutes for Gold bullion because they are expected to produce returns that are substantially similar to those of Gold bullion. Derivatives used by the Fund are expected to produce a significant portion of the Fund’s returns. The Fund does not invest more than 25% of Fund assets in over-the-counter derivative contracts with any one counterparty. ETFs and ETNs may employ leverage, which magnifies the changes in the underlying Gold index or Gold price upon which they are based.

The Fund concentrates investments in the Gold bullion industry under normal circumstances investing over 25% of its assets in the Gold bullion industry. For purposes of measuring the 25% Gold bullion industry investments, the Fund includes the effects of leverage to Gold bullion (e.g. a security with 2 times leverage to Gold bullion price changes is counted at twice its value). The Fund also invests in investment grade fixed income corporate notes and bonds to generate interest income and to seek to preserve principal. The Fund defines investment grade fixed income securities as those that are rated, at the time purchased, in the top four categories by a rating agency such as Moody’s Investor Services, Inc. (“Moody’s”) or Standard & Poor’s Ratings Group (“S&P”), or, if unrated, determined by the Sub-Adviser to be of comparable quality. However, the fixed income securities are selected without restriction as to maturity, issuer country or capitalization.

The Fund will invest up to 25% of its total assets in a wholly owned and controlled subsidiary (the “Subsidiary”). The Subsidiary is expected to provide the Fund with exposure to Gold bullion within the limitations of the federal tax requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). The Subsidiary will invest primarily in Gold bullion-related: ETFs, ETNs, futures and forward contracts. The Fund’s investments will be composed primarily of securities, even when viewing the Subsidiary on a consolidated basis. The Subsidiary, when viewed from a consolidated basis, is subject to the same investment restrictions as the Fund.

The Sub-Adviser selects securities and derivatives to maintain the Fund’s primary allocation to investments that it believes will have returns that reflect the performance of the price of Gold bullion. The Sub-Adviser disposes of securities or derivatives to replace them with investments that it believes have a higher expected return or will more closely track Gold bullion prices or both. However, placement of individual trades, with the exception of fixed income trades, is conducted by the Adviser in consultation with the Sub-Adviser. The Sub-Adviser selects derivative counterparties it believes to be creditworthy and will close out a derivative position if it believes the counterparty is no longer creditworthy. The Sub-Adviser places substantially all fixed income trades. The Adviser and/or Sub-Adviser may engage in frequent trading to achieve the Fund’s investment objective, which may result in continued turnover in excess of 100%.

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QGLDX - Performance

Return Ranking - Trailing

Period QGLDX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.0% -29.2% 18.2% 36.57%
1 Yr 8.6% -47.5% 27.2% 23.88%
3 Yr 4.7%* -28.6% 298.0% 89.39%
5 Yr 7.2%* -31.6% 131.3% 52.34%
10 Yr 2.7%* -28.3% 44.8% 25.88%

* Annualized

Return Ranking - Calendar

Period QGLDX Return Category Return Low Category Return High Rank in Category (%)
2023 0.0% -64.0% 30.1% 11.19%
2022 -4.6% -45.7% 2475.6% 62.41%
2021 -6.2% -23.3% 106.7% 77.27%
2020 8.4% -71.9% 295.5% 20.16%
2019 2.0% -31.8% 53.9% 84.38%

Total Return Ranking - Trailing

Period QGLDX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.0% -29.2% 18.2% 36.57%
1 Yr 8.6% -47.5% 27.2% 23.88%
3 Yr 4.7%* -28.6% 298.0% 89.39%
5 Yr 7.2%* -31.6% 131.3% 52.34%
10 Yr 2.7%* -28.3% 44.8% 25.88%

* Annualized

Total Return Ranking - Calendar

Period QGLDX Return Category Return Low Category Return High Rank in Category (%)
2023 10.3% -64.0% 41.1% 8.96%
2022 -4.6% -15.1% 5648.8% 96.24%
2021 -6.2% -23.3% 188.1% 93.94%
2020 19.3% -67.8% 296.1% 17.83%
2019 17.0% -31.8% 53.9% 21.88%

NAV & Total Return History


QGLDX - Holdings

Concentration Analysis

QGLDX Category Low Category High QGLDX % Rank
Net Assets 102 M 2.34 M 54.2 B 68.67%
Number of Holdings 49 1 926 54.74%
Net Assets in Top 10 80.5 M 2.66 M 63.2 B 75.91%
Weighting of Top 10 67.41% 23.0% 153.5% 59.09%

Top 10 Holdings

  1. STONECASTLE 21.96%
  2. FID-MM GOVT-I 19.04%
  3. FRST AM-GV OB-Z 11.13%
  4. ISHARES 0-3M T/B 6.72%
  5. GOLD 100 OZ FUTR Feb24 1.86%
  6. FNMA 5 1/4 02/17/26 1.68%
  7. FHLMC 5 5/8 03/13/26 1.67%
  8. FHLB 5.3 08/15/25 1.67%
  9. CNXCRE 5 1/2 06/28/24 0.84%
  10. ORECCU 5.45 06/20/24 0.84%

Asset Allocation

Weighting Return Low Return High QGLDX % Rank
Cash
66.29% 0.00% 100.26% 17.78%
Bonds
24.35% 0.00% 120.99% 53.28%
Stocks
7.50% 0.00% 62.82% 21.17%
Other
1.86% -47.59% 100.00% 49.63%
Convertible Bonds
1.68% 0.00% 3.89% 4.48%
Preferred Stocks
0.00% 0.00% 0.07% 69.63%

Stock Sector Breakdown

Weighting Return Low Return High QGLDX % Rank
Utilities
0.00% 0.00% 27.00% 80.00%
Technology
0.00% 0.00% 2.77% 65.00%
Real Estate
0.00% 0.00% 13.82% 65.00%
Industrials
0.00% 0.00% 23.28% 100.00%
Healthcare
0.00% 0.00% 1.73% 10.00%
Financial Services
0.00% 0.00% 13.67% 95.00%
Energy
0.00% 0.00% 33.64% 100.00%
Communication Services
0.00% 0.00% 100.00% 75.00%
Consumer Defense
0.00% 0.00% 12.04% 100.00%
Consumer Cyclical
0.00% 0.00% 3.41% 100.00%
Basic Materials
0.00% 0.00% 47.41% 100.00%

Stock Geographic Breakdown

Weighting Return Low Return High QGLDX % Rank
US
7.50% 0.00% 62.82% 21.48%
Non US
0.00% 0.00% 30.58% 70.37%

Bond Sector Breakdown

Weighting Return Low Return High QGLDX % Rank
Cash & Equivalents
64.53% 0.00% 100.26% 33.61%
Corporate
42.72% 0.00% 42.72% 1.65%
Securitized
2.34% 0.00% 36.61% 30.58%
Derivative
1.86% -10.00% 99.82% 11.48%
Government
1.08% 0.00% 100.00% 82.64%
Municipal
0.00% 0.00% 1.45% 67.77%

Bond Geographic Breakdown

Weighting Return Low Return High QGLDX % Rank
US
24.35% 0.00% 106.15% 54.07%
Non US
0.00% 0.00% 21.42% 71.11%

QGLDX - Expenses

Operational Fees

QGLDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.39% 0.21% 4.07% 31.48%
Management Fee 0.75% 0.00% 1.75% 71.08%
12b-1 Fee 0.25% 0.00% 1.00% 60.32%
Administrative Fee N/A 0.02% 0.45% N/A

Sales Fees

QGLDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

QGLDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 72.73%

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.

QGLDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 162.00% 0.00% 162.00% 100.00%

QGLDX - Distributions

Dividend Yield Analysis

QGLDX Category Low Category High QGLDX % Rank
Dividend Yield 33.74% 0.00% 26.36% 4.22%

Dividend Distribution Analysis

QGLDX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Annually Annually

Net Income Ratio Analysis

QGLDX Category Low Category High QGLDX % Rank
Net Income Ratio -0.67% -55.71% 52.26% 64.18%

Capital Gain Distribution Analysis

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

Distributions History

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QGLDX - Fund Manager Analysis

Managers

Jerry Wagner


Start Date

Tenure

Tenure Rank

Jul 08, 2013

8.9

8.9%

Jerry C. Wagner, JD is President and Chief Investment Officer of Flexible Plan Investments, Ltd. Mr. Wagner was born on May 7, 1947. He holds the degree of Juris Doctor awarded by the University of Michigan in 1973 and degrees of Masters in Labor & Industrial Relations (1970) and Bachelor of Arts (1969) from Michigan State University. Mr. Wagner has been a member of the State Bar of Michigan since 1973. He has been the principal investment adviser representative for Flexible Plan Investments, Ltd. since 1981. Mr. Wagner has a Series 65. His business experience for the last 5 years is as follows: Flexible Plan Investments, Ltd. Investment Adviser

Jason Teed


Start Date

Tenure

Tenure Rank

Mar 12, 2018

4.22

4.2%

Jason Teed, CFA, MFS, Director of Research and Senior Portfolio Manager. Mr Teed was born May 21, 1984. He holds a Masters in Finance degree from the Walsh College, and a Bachelor of Arts degree from the University of Michigan. Mr. Teed joined Flexible Plan Investments, Ltd. as an Investment Associate in February 2011. He holds the designation of Chartered Financial Analyst (CFA) Flexible Plan Investments, Ltd. Investment Adviser Director of Research

Timothy Hanna


Start Date

Tenure

Tenure Rank

Aug 30, 2019

2.75

2.8%

Timothy Hanna, has served as the Subadviser’s Senior Portfolio Manager since January 2014. Before joining the Subadviser, he was an institutional fixed-income manager at Multi-Bank Securities and previously a derivatives trader. Mr. Hanna is responsible for performing applied economic and quantitative research for the Subadviser’s strategies and mutual funds. He reviews new and existing strategies, ensuring that algorithms perform within expectations, providing modifications to achieve best execution and efficient implementation. Mr. Hanna has a bachelor’s degree in accounting from Wayne State University and a master’s degree in finance from Walsh College. He holds the designations of Chartered Financial Analyst (CFA) and Certified Fixed-Income Practitioner (CFIP).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 17.03 5.76 11.51