Emerald Growth Fund
Name
As of 11/21/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
25.0%
1 yr return
40.2%
3 Yr Avg Return
2.3%
5 Yr Avg Return
11.1%
Net Assets
$982 M
Holdings in Top 10
20.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.13%
SALES FEES
Front Load 4.75%
Deferred Load N/A
TRADING FEES
Turnover 66.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/21/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
HSPGX - Profile
Distributions
- YTD Total Return 25.0%
- 3 Yr Annualized Total Return 2.3%
- 5 Yr Annualized Total Return 11.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.72%
- Dividend Yield 1.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameEmerald Growth Fund
-
Fund Family NameFinancial Investors Trust
-
Inception DateOct 01, 1992
-
Shares Outstanding5025676
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerKenneth Mertz
Fund Description
Under normal conditions, the Fund invests in equity securities of U.S. and foreign companies, principally common stocks and preferred stocks.
The Fund utilizes a fundamental approach to choosing securities: the research staff of Emerald conducts company-specific research analysis, taking into account a company’s revenue and earnings growth rates and the financial, operating, and market characteristics that distinguish a company from other companies.
The Fund can invest in companies from a wide range of industries and of market capitalizations. The Fund may emphasize investments in smaller companies, which are defined by the Adviser as those having a market capitalization equal to or less than that of the largest companies in the Russell 2000 Index. As of September 30, 2024, the Russell 2000 Index included securities issued by companies that ranged in size between $9 million and $15.9 billion.
The Fund may also invest in the other investment companies, principally money market funds, exchange-traded funds (“ETFs”), unit investment trusts, closed-end funds, and business development companies. The Fund intends to invest a portion of these assets in the securities of affiliated ETFs advised or sub-advised by the Adviser (each, an “Underlying ETF”). The Fund does not have a policy with respect to investing a certain portion of its assets in any particular sector, but may emphasize investments in the healthcare, technology, and industrial sectors.
While the Fund may directly invest in the securities of companies within the healthcare sector, the Adviser intends for the Fund to gain exposure to the healthcare sector in part through the use of such Underlying ETFs, primarily the F/m Emerald Life Sciences Innovation ETF (the “Life Sciences ETF”). The Fund does not have a policy with respect to the amount of the Fund’s portfolio that will be allocated to the Life Sciences ETF, but generally the Adviser expects approximately 5% of the Fund’s portfolio to be allocated to the Life Sciences ETF, calculated at the time of investment.
The Fund invests in foreign companies directly and through American Depository Receipts (“ADRs”).
The Fund generally sells investments when the Adviser concludes that better investment opportunities exist in other securities, the security is fully valued, or the issuer’s circumstances or the political or economic outlook have changed.
HSPGX - Performance
Return Ranking - Trailing
| Period | HSPGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 25.0% | -0.3% | 99.0% | 27.37% |
| 1 Yr | 40.2% | 5.6% | 97.2% | 23.36% |
| 3 Yr | 2.3%* | -17.5% | 60.9% | 25.19% |
| 5 Yr | 11.1%* | -2.8% | 48.2% | 32.56% |
| 10 Yr | 9.5%* | 1.6% | 25.2% | 54.36% |
* Annualized
Return Ranking - Calendar
| Period | HSPGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.3% | -20.5% | 54.6% | 70.70% |
| 2022 | -30.3% | -82.1% | 32.2% | 54.26% |
| 2021 | -13.6% | -90.6% | 300.1% | 66.36% |
| 2020 | 27.5% | -63.0% | 127.9% | 53.88% |
| 2019 | 26.5% | -7.7% | 42.9% | 30.48% |
Total Return Ranking - Trailing
| Period | HSPGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 25.0% | -0.3% | 99.0% | 27.37% |
| 1 Yr | 40.2% | 5.6% | 97.2% | 23.36% |
| 3 Yr | 2.3%* | -17.5% | 60.9% | 25.19% |
| 5 Yr | 11.1%* | -2.8% | 48.2% | 32.56% |
| 10 Yr | 9.5%* | 1.6% | 25.2% | 54.36% |
* Annualized
Total Return Ranking - Calendar
| Period | HSPGX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 18.7% | -19.0% | 136.8% | 30.59% |
| 2022 | -24.7% | -59.9% | 44.3% | 31.11% |
| 2021 | 3.7% | -22.7% | 411.9% | 76.82% |
| 2020 | 38.4% | 1.5% | 150.8% | 49.03% |
| 2019 | 28.3% | 5.5% | 55.3% | 53.39% |
NAV & Total Return History
HSPGX - Holdings
Concentration Analysis
| HSPGX | Category Low | Category High | HSPGX % Rank | |
|---|---|---|---|---|
| Net Assets | 982 M | 209 K | 34.3 B | 40.33% |
| Number of Holdings | 123 | 7 | 1226 | 31.39% |
| Net Assets in Top 10 | 215 M | 53.8 K | 3.24 B | 45.07% |
| Weighting of Top 10 | 20.75% | 7.5% | 100.0% | 57.40% |
Top 10 Holdings
- FTAI Aviation Ltd 3.32%
- Carpenter Technology Corp. 2.76%
- Freshpet, Inc. 2.56%
- Insmed, Inc. 1.83%
- Palomar Holdings, Inc. 1.77%
- Varonis Systems, Inc. 1.76%
- Credo Technology Group Holding, Ltd. 1.73%
- ATI, Inc. 1.73%
- TransMedics Group, Inc. 1.66%
- Chart Industries, Inc. 1.64%
Asset Allocation
| Weighting | Return Low | Return High | HSPGX % Rank | |
|---|---|---|---|---|
| Stocks | 98.17% | 85.75% | 107.62% | 48.18% |
| Cash | 1.83% | 0.00% | 28.78% | 53.28% |
| Preferred Stocks | 0.00% | 0.00% | 4.63% | 25.73% |
| Other | 0.00% | -0.26% | 6.70% | 40.51% |
| Convertible Bonds | 0.00% | 0.00% | 1.57% | 15.69% |
| Bonds | 0.00% | 0.00% | 2.40% | 18.07% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | HSPGX % Rank | |
|---|---|---|---|---|
| Technology | 21.55% | 2.91% | 75.51% | 69.89% |
| Healthcare | 20.33% | 0.00% | 47.90% | 68.61% |
| Consumer Cyclical | 17.37% | 0.00% | 24.04% | 10.04% |
| Industrials | 15.96% | 0.00% | 36.64% | 63.32% |
| Financial Services | 12.80% | 0.00% | 42.95% | 17.88% |
| Consumer Defense | 4.94% | 0.00% | 13.56% | 29.20% |
| Energy | 1.92% | 0.00% | 55.49% | 60.58% |
| Basic Materials | 1.78% | 0.00% | 9.24% | 64.05% |
| Communication Services | 1.40% | 0.00% | 15.31% | 64.42% |
| Utilities | 1.17% | 0.00% | 5.57% | 12.23% |
| Real Estate | 0.79% | 0.00% | 15.31% | 65.33% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | HSPGX % Rank | |
|---|---|---|---|---|
| US | 98.17% | 17.30% | 107.62% | 41.79% |
| Non US | 0.00% | 0.00% | 77.12% | 36.86% |
HSPGX - Expenses
Operational Fees
| HSPGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.13% | 0.05% | 23.20% | 55.76% |
| Management Fee | 0.61% | 0.05% | 1.62% | 12.25% |
| 12b-1 Fee | 0.35% | 0.00% | 1.00% | 67.00% |
| Administrative Fee | N/A | 0.01% | 0.40% | N/A |
Sales Fees
| HSPGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 4.75% | 3.50% | 5.75% | 91.18% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| HSPGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | 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.
| HSPGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 66.00% | 3.00% | 264.00% | 60.63% |
HSPGX - Distributions
Dividend Yield Analysis
| HSPGX | Category Low | Category High | HSPGX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.99% | 0.00% | 6.91% | 31.20% |
Dividend Distribution Analysis
| HSPGX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Annual | Annual |
Net Income Ratio Analysis
| HSPGX | Category Low | Category High | HSPGX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.72% | -2.47% | 1.10% | 49.63% |
Capital Gain Distribution Analysis
| HSPGX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 20, 2023 | $0.649 | CapitalGainLongTerm |
| Jul 12, 2023 | $0.801 | CapitalGainLongTerm |
| Aug 25, 2022 | $1.778 | CapitalGainLongTerm |
| Dec 14, 2021 | $5.558 | OrdinaryDividend |
| Dec 18, 2020 | $2.853 | OrdinaryDividend |
| Dec 16, 2019 | $0.382 | CapitalGainLongTerm |
| Dec 17, 2018 | $2.473 | CapitalGainLongTerm |
HSPGX - Fund Manager Analysis
Managers
Kenneth Mertz
Start Date
Tenure
Tenure Rank
Oct 01, 1992
29.68
29.7%
Mr. Mertz is Chief Investment Officer and President of Emerald Advisers, LLC and a member of the Small Cap Portfolio Management team. He is also a Co-Manager of the Emerald Banking & Finance Fund. Portfolio Manager, Emerald Financial Services Private Equity Fund I, LP.; past Trustee and Vice President of the Emerald Mutual Funds; Chief Investment Officer, PA State Employees’ Retirement System (1985-1992); Member, CFA Institute; past Member, Pennsylvania State University Research Foundation; past Trustee, Evangelical Lutheran Church in America Board of Pensions; past Trustee, Pennsylvania State University Endowment Council (1998-2004); and past Chair, President, & Director of Central Pennsylvania Investment Managers.
Stacey Sears
Start Date
Tenure
Tenure Rank
Jan 31, 2002
20.34
20.3%
Ms. Sears is Senior Vice President and a senior member of the Small Cap Portfolio Management team, working directly with the research team, interacting with team members across economic sectors and helping guide the day-to-day portfolio management decision-making process. Sears was employed by the Advisor’s parent company from 1992 to 2001, holding a variety of positions including investment analyst. Ms. Sears is also responsible for portfolio risk monitoring, portfolio attribution analysis, as well as Emerald’s portfolio management-related client communications. From a research perspective, Ms. Sears maintains research coverage of the Retail, Apparel, Restaurant, Consumer Goods and Consumer Technology companies. She has been quoted in Fortune, Money, the Dow Jones News Service and various regional newspapers. Ms. Sears received a BS in Business Administration from Millersville University and an MBA from Villanova University.
Joseph Garner
Start Date
Tenure
Tenure Rank
May 01, 2006
16.09
16.1%
Mr. Garner is Director of Research and a member of the Small Cap Portfolio Management team. Mr. Garner’s research efforts are focused on small and mid-sized firms in the Business Services, Capital Goods, Consumer, Financial Services, and Technology sectors. In 1997, he was named as a “Home-Run Hitter” by Institutional Investor magazine, and has appeared on Bloomberg Television and CNBC. He also has been quoted in Fortune, Bloomberg Business News, USA Today, Dow Jones News Service, Standard & Poor’s, MarketWatch, Investor’s Business Daily, Wall Street Journal, and other media. Mr. Garner serves as a Director for the Millersville University Foundation and Chairman of the Investment Committee and previously served as the President of the Board of Directors for the Foundation. Prior to joining Emerald, Mr. Garner was the Program Manager of the PA Economic Development Financing Authority (PEDFA) and an Economic Development Analyst with the PA Department of Commerce’s Office of Technology Development. Mr. Garner received an MBA from the Katz Graduate School of Business, University of Pittsburgh, and graduated magna cum laude with a BA in Economics from Millersville University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 30.44 | 9.12 | 5.25 |