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Trending ETFs

Name

As of 05/25/2023

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

$9.83

$109 M

1.73%

$0.17

0.93%

Vitals

YTD Return

1.6%

1 yr return

-0.9%

3 Yr Avg Return

-2.7%

5 Yr Avg Return

-0.7%

Net Assets

$109 M

Holdings in Top 10

30.9%

52 WEEK LOW AND HIGH

$9.8
$9.48
$9.93

Expenses

OPERATING FEES

Expense Ratio 0.93%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 59.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/25/2023

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

$9.83

$109 M

1.73%

$0.17

0.93%

CNCIX - Profile

Distributions

  • YTD Total Return 1.6%
  • 3 Yr Annualized Total Return -2.7%
  • 5 Yr Annualized Total Return -0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.37%
DIVIDENDS
  • Dividend Yield 1.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    City National Rochdale Corporate Bond Fund
  • Fund Family Name
    City National Rochdale
  • Inception Date
    Jan 14, 2000
  • Shares Outstanding
    9900068
  • Share Class
    S
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    David Krouth

Fund Description

At least 80% of the Corporate Bond Fund’s net assets (plus any borrowings for investment purposes) consists of investment grade corporate notes, bonds and debentures that are nationally traded and corporate issues of domestic and international companies (including emerging market companies) denominated in U.S. dollars. The Fund may also purchase mortgage-backed and asset-backed instruments the maturities and durations of which are consistent with an intermediate term strategy.

City National Rochdale, LLC (the “Adviser”), the Fund’s investment adviser, actively manages the average duration of the portfolio in accordance with its expectations of interest rate changes as driven by economic trends. The average duration of the Fund’s portfolio typically ranges from two to six years, but may vary due to unusually large purchases or redemptions of the Fund’s shares. There is no limit on the maturities of individual securities held by the Fund.

The Adviser typically invests in corporate issues with a minimum credit rating from Moody’s Investors Service or Standard & Poor’s Ratings Services of Baa or BBB, mortgage-backed and asset-backed instruments with a minimum rating of Aa or AA and corporate commercial paper issued by issuers with a minimum credit rating of P1 or A1. Although the Adviser considers credit ratings in selecting investments for the Fund, the Adviser bases its investment decision for a particular instrument primarily on its own credit analysis and not on a credit rating by a nationally recognized statistical rating organization. The Adviser considers, among other things, the issuer’s financial resources and operating history, its sensitivity to economic conditions and trends, its debt maturity schedules and borrowing requirements, and relative values based on anticipated cash flow, interest and asset coverage. The Fund may retain a security after it has been downgraded to any rating below the minimum credit rating if the Adviser determines that doing so is in the best interests of the Fund. The Fund may also invest in municipal securities and in the shares of money market mutual funds, the investments of which are consistent with those of the Fund.

Generally, in determining whether to sell a security, the Adviser uses the same type of analysis that it uses when buying securities to determine whether the security continues to be a desirable investment for the Fund, including consideration of the security’s current credit quality. The Adviser may also sell a security to reduce the Fund’s holding in that security, to take advantage of what it believes are more attractive investment opportunities or to raise cash.

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CNCIX - Performance

Return Ranking - Trailing

Period CNCIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% -9.6% 3.4% 45.97%
1 Yr -0.9% -12.5% -0.1% 35.59%
3 Yr -2.7%* -7.2% 2.4% 81.13%
5 Yr -0.7%* -10.8% 3.1% 60.25%
10 Yr -0.9%* -12.1% 2.2% 75.29%

* Annualized

Return Ranking - Calendar

Period CNCIX Return Category Return Low Category Return High Rank in Category (%)
2023 -7.1% -17.7% 17.8% 57.29%
2022 -1.9% -20.8% 2.9% 99.47%
2021 1.0% -2.8% 4.6% 24.04%
2020 0.8% -50.6% 3.0% 14.99%
2019 -0.4% -3.7% 0.6% 74.39%

Total Return Ranking - Trailing

Period CNCIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% -9.6% 3.4% 51.68%
1 Yr -0.9% -12.5% -0.1% 34.92%
3 Yr -2.7%* -7.2% 2.4% 81.13%
5 Yr -0.7%* -8.3% 3.1% 65.37%
10 Yr -0.7%* -10.7% 2.2% 77.65%

* Annualized

Total Return Ranking - Calendar

Period CNCIX Return Category Return Low Category Return High Rank in Category (%)
2023 -7.1% -17.7% 17.7% 57.12%
2022 -1.9% -20.8% 2.9% 99.47%
2021 1.0% -2.8% 4.6% 24.04%
2020 0.8% -28.6% 3.0% 16.32%
2019 -0.4% -1.0% 4.2% 79.30%

NAV & Total Return History


CNCIX - Holdings

Concentration Analysis

CNCIX Category Low Category High CNCIX % Rank
Net Assets 109 M 5.81 M 70.5 B 86.33%
Number of Holdings 47 4 4919 91.15%
Net Assets in Top 10 34.1 M -23.9 M 9.45 B 82.80%
Weighting of Top 10 30.87% 1.7% 100.0% 29.03%

Top 10 Holdings

  1. SEI Government F (SDIT) 5.88%
  2. CALIFORNIA ST 3.5% 3.22%
  3. Apple Inc. 3.45% 3.19%
  4. Total Capital International S.A. 2.88% 3.06%
  5. City National Rochdale Fxd Inc Opps N 3.03%
  6. NEW YORK ST URBAN DEV CORP REV 3.1% 2.83%
  7. NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5.01% 2.77%
  8. JPMorgan Chase & Co. 3.3% 2.74%
  9. United Health Group Incorporated 2.875% 2.74%
  10. Citigroup Inc. 1.953% 2.72%

Asset Allocation

Weighting Return Low Return High CNCIX % Rank
Bonds
87.36% 49.71% 194.71% 86.48%
Convertible Bonds
6.49% 0.00% 27.71% 6.84%
Cash
5.96% -102.46% 39.20% 23.87%
Other
0.18% -2.59% 10.19% 7.01%
Stocks
0.00% -0.66% 11.31% 22.37%
Preferred Stocks
0.00% 0.00% 25.64% 26.38%

Bond Sector Breakdown

Weighting Return Low Return High CNCIX % Rank
Corporate
90.36% 0.00% 100.00% 5.84%
Cash & Equivalents
6.03% 0.00% 44.09% 34.56%
Government
2.92% 0.00% 73.63% 84.64%
Securitized
0.69% 0.00% 97.27% 89.48%
Derivative
0.00% 0.00% 45.97% 24.04%
Municipal
0.00% 0.00% 17.46% 51.92%

Bond Geographic Breakdown

Weighting Return Low Return High CNCIX % Rank
US
74.62% 0.00% 165.96% 77.13%
Non US
12.74% 0.00% 72.71% 48.41%

CNCIX - Expenses

Operational Fees

CNCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.93% 0.02% 2.48% 20.85%
Management Fee 0.40% 0.00% 1.19% 72.50%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% 12.79%

Sales Fees

CNCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.50% 5.00% N/A

Trading Fees

CNCIX 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.

CNCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 59.00% 2.00% 500.00% 38.12%

CNCIX - Distributions

Dividend Yield Analysis

CNCIX Category Low Category High CNCIX % Rank
Dividend Yield 1.73% 0.00% 11.65% 79.97%

Dividend Distribution Analysis

CNCIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

CNCIX Category Low Category High CNCIX % Rank
Net Income Ratio 1.37% -1.27% 4.98% 37.78%

Capital Gain Distribution Analysis

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

Distributions History

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CNCIX - Fund Manager Analysis

Managers

David Krouth


Start Date

Tenure

Tenure Rank

Feb 28, 2015

7.26

7.3%

David Krouth is a Portfolio Manager of City National Rochdale, LLC. Mr. Krouth has over 15 years of analytical experience in the financial industry. He is responsible for various facets of investment grade fixed income management, which include trading, research, and portfolio management. Mr. Krouth joined CNB in 2003. Mr. Krouth earned a BS in Finance from the University of Idaho. Additionally, he holds the Chartered Financial Analyst designation and is a member of the CFA Institute.

Charles Luke


Start Date

Tenure

Tenure Rank

Jun 30, 2020

1.92

1.9%

Charles Luke is a Senior Investment Director on the UK and European equities team having joined the company in 2000. Charles started his career at Framlington Investment Management in 1998, covering UK equities. Charles graduated with a BA in Economics and Japanese Studies from Leeds University and an MSc in Business and Economic History from the London School of Economics."

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 28.77 6.1 2.41