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Name

As of 12/01/2023

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

Hawaii Municipal Fund

SURFX | Fund

$9.86

$127 M

0.00%

0.95%

Vitals

YTD Return

-0.6%

1 yr return

-1.4%

3 Yr Avg Return

-2.8%

5 Yr Avg Return

-0.1%

Net Assets

$127 M

Holdings in Top 10

33.3%

52 WEEK LOW AND HIGH

$9.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.95%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 15.36%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$10,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/01/2023

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

Hawaii Municipal Fund

SURFX | Fund

$9.86

$127 M

0.00%

0.95%

SURFX - Profile

Distributions

  • YTD Total Return -0.6%
  • 3 Yr Annualized Total Return -2.8%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.74%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Hawaii Municipal Fund
  • Fund Family Name
    LeeHawaii
  • Inception Date
    Aug 11, 1997
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Terrence Lee

Fund Description

Under normal circumstances, the Fund will invest at least 80% of its net assets, including borrowings for investment purposes, in a portfolio of primarily investment grade municipal securities issued by or on behalf of the State of Hawaii or any of its political subdivisions or agencies that pay interest that is exempt from regular federal and State of Hawaii income tax. The Fund’s dollar-weighted average portfolio maturity is expected to be 10 years or more. More than 25% of the Fund’s assets may be invested in a particular segment of the municipal securities market. The Investment Manager attempts to select securities that it believes will provide the best balance between risk and return within the Fund’s range of allowable investments. The Fund purchases municipal securities that the Investment Manager believes have the best value compared to securities of similar credit quality and maturity range. The Fund generally sells municipal securities for a number of reasons, including a change in credit quality, to extend or shorten maturity, to increase yield or to raise funds to cover redemptions.

Read More

SURFX - Performance

Return Ranking - Trailing

Period SURFX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.6% -2.4% 34.9% 99.49%
1 Yr -1.4% -5.2% 25.9% 98.66%
3 Yr -2.8%* -11.1% 6101.3% 92.09%
5 Yr -0.1%* -4.8% 1103.3% 94.08%
10 Yr 1.4%* -0.3% 247.9% 80.32%

* Annualized

Return Ranking - Calendar

Period SURFX Return Category Return Low Category Return High Rank in Category (%)
2023 -10.4% -40.2% 0.3% 39.66%
2022 -1.0% -5.6% 6.9% 73.32%
2021 1.1% -2.6% 310.0% 79.40%
2020 2.9% 0.0% 26.0% 79.74%
2019 -2.0% -25.2% 11.0% 44.46%

Total Return Ranking - Trailing

Period SURFX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.6% -2.4% 34.9% 99.49%
1 Yr -1.4% -5.2% 25.9% 98.66%
3 Yr -2.8%* -11.1% 6101.3% 92.09%
5 Yr -0.1%* -4.8% 1103.3% 94.08%
10 Yr 1.4%* -0.3% 247.9% 80.32%

* Annualized

Total Return Ranking - Calendar

Period SURFX Return Category Return Low Category Return High Rank in Category (%)
2023 -8.8% -40.2% 1.1% 44.13%
2022 1.2% -4.8% 23761504.0% 57.27%
2021 3.6% -1.5% 17127.1% 70.23%
2020 4.9% 0.2% 3514.6% 80.08%
2019 0.3% -11.3% 15.0% 69.05%

NAV & Total Return History

SURFX - Holdings

Concentration Analysis

SURFX Category Low Category High SURFX % Rank
Net Assets 127 M 3.48 M 68.1 B 79.68%
Number of Holdings 83 2 13001 91.85%
Net Assets in Top 10 42.3 M -317 M 5.07 B 66.65%
Weighting of Top 10 33.33% 1.4% 100.2% 8.41%

Top 10 Holdings

  1. State of Hawaii Airports System Revenue 5.76%
  2. State of Hawaii Department of Budget Finance 5.35%
  3. City County Honolulu HI Wastewater System Revenue 3.58%
  4. Hawaii Housing Finance Development Corp. 3.53%
  5. Hawaii Housing Finance Development Corp. 3.17%
  6. State of Hawaii Harbor System Revenue 2.76%
  7. Hawaii Housing Finance Development Corp. 2.41%
  8. State of Hawaii Department of Budget Finance 2.36%
  9. County of Maui 2.33%
  10. City County Honolulu HI Wastewater System Revenue 2.08%

Asset Allocation

Weighting Return Low Return High SURFX % Rank
Bonds 		98.52% 0.00% 150.86% 56.81%
Cash 		1.48% -50.86% 48.14% 41.37%
Stocks 		0.00% 0.00% 99.82% 90.20%
Preferred Stocks 		0.00% 0.00% 0.52% 89.62%
Other 		0.00% -8.54% 33.35% 86.95%
Convertible Bonds 		0.00% 0.00% 0.93% 98.55%

Bond Sector Breakdown

Weighting Return Low Return High SURFX % Rank
Derivative 		0.00% -8.54% 24.50% 86.00%
Cash & Equivalents 		0.00% 0.00% 48.14% 94.78%
Securitized 		0.00% 0.00% 5.93% 98.55%
Corporate 		0.00% 0.00% 9.41% 84.06%
Municipal 		0.00% 44.39% 100.00% 44.93%
Government 		0.00% 0.00% 52.02% 98.55%

Bond Geographic Breakdown

Weighting Return Low Return High SURFX % Rank
US 		98.52% 0.00% 142.23% 54.23%
Non US 		0.00% 0.00% 23.89% 89.75%

SURFX - Expenses

Operational Fees

SURFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.95% 0.03% 20.65% 32.16%
Management Fee 0.50% 0.00% 1.20% 86.90%
12b-1 Fee 0.15% 0.00% 1.00% 26.11%
Administrative Fee 0.10% 0.01% 0.44% 46.31%

Sales Fees

SURFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

SURFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

SURFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 15.36% 0.00% 283.00% 43.82%

SURFX - Distributions

Dividend Yield Analysis

SURFX Category Low Category High SURFX % Rank
Dividend Yield 0.00% 0.00% 4.57% 90.39%

Dividend Distribution Analysis

SURFX Category Low Category High Category Mod
Dividend Distribution Frequency None Monthly Monthly Monthly

Net Income Ratio Analysis

SURFX Category Low Category High SURFX % Rank
Net Income Ratio 1.74% -0.53% 5.33% 61.15%

Capital Gain Distribution Analysis

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

Distributions History

View More +

SURFX - Fund Manager Analysis

Managers

Terrence Lee

Start Date

Tenure

Tenure Rank

Feb 01, 2015

7.33

7.3%

Terrence K.H. Lee, lead member, portfolio manager, CEO and President of Lee Financial Group Hawaii Inc, which he founded in 1988, and serves as the Chief Investment Officer for the Investment Committee of Lee Financial Group.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.35 1.58

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