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Trending ETFs

Name

As of 03/27/2024

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

$9.47

$964 M

1.73%

$0.16

1.87%

Vitals

YTD Return

5.2%

1 yr return

0.6%

3 Yr Avg Return

11.9%

5 Yr Avg Return

10.4%

Net Assets

$964 M

Holdings in Top 10

91.4%

52 WEEK LOW AND HIGH

$9.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.87%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 0.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$10,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$9.47

$964 M

1.73%

$0.16

1.87%

EBSIX - Profile

Distributions

  • YTD Total Return 5.2%
  • 3 Yr Annualized Total Return 11.9%
  • 5 Yr Annualized Total Return 10.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -1.68%
DIVIDENDS
  • Dividend Yield 1.7%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Campbell Systematic Macro Fund
  • Fund Family Name
    Campbell & Company
  • Inception Date
    Mar 08, 2013
  • Shares Outstanding
    33079407
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Kevin Cole

Fund Description

The Fund pursues its investment objective by (i) investing its assets pursuant to the Campbell Systematic Macro Program (as described below), (ii) allocating up to 25% of its total assets in its wholly-owned subsidiary, Campbell Systematic Macro Offshore Limited (the “Subsidiary”), which is organized under the acts of the Cayman Islands and employs the Adviser’s Campbell Systematic Macro Program, and (iii) allocating the remainder of its assets directly in a portfolio of investment grade securities (including government securities) for cash management purposes. Securities rated in the four highest categories by the ratings agencies are considered investment grade.

The Fund invests pursuant to the Adviser’s Campbell Systematic Macro Program, which uses quantitative modeling to develop and maintain systematic trading strategies driven by scientific analysis of financial data across global financial and commodity markets. The Campbell Systematic Macro Program seeks to systematically identify price trends and to develop macro and fundamental themes that exploit asset mispricing.

Campbell’s Systematic Macro Program, as currently implemented by the Fund, combines Momentum with Quant Macro and Short Term strategies to target maximized diversification. Momentum strategies are designed to capitalize on the tendency for longer-term performance of markets to continue due to behavioral biases, compensation for risk exposures, or other phenomena. Quant Macro strategies are designed to capitalize on asset mispricings caused by fundamental economic considerations or macroeconomic linkages between markets. Short Term strategies, including momentum and mean reversion, are designed to capitalize on temporary market dislocations caused by liquidity demands, trader behaviors, or other phenomena. As of the date of this prospectus, the allocation among these strategies is as follows: Momentum – 40%; Quant Macro – 35%, and Short Term – 25%. The Adviser reserves the right to vary these allocations over time.

The Fund implements these strategies by combining over 100 different systematic models (also referred to as “signals” and/or “alpha sources”). A systematic model is a clearly defined, rules-based approach that uses computer code and data to generate trading signals. A systematic process eliminates emotion, “key person” risk, and provides an ability to participate in trends during periods of extended momentum without any directional bias. Key person risk is the risk that results when a fund’s investment program is highly dependent on the investment skill and dedication of a small number of “key” persons at an adviser, which can result in decreased investment results if these “key” persons become unable to apply their full attention to the management of a fund’s investments for health or other reasons. In addition, a diversity of investment style and the ability to invest long and short

across global asset classes and markets enables investment opportunities in a variety of economic environments. The Fund is generally intended to have a low correlation to the equity, bond and credit markets. There is no assurance, however, that the Fund will achieve its investment objective.

The Fund intends to trade in a broad range of instruments (also referred to in the futures trading industry as “markets”), including but not limited to, futures (including commodity futures, index futures, equity futures, bond futures and interest rate futures), currency forwards, options and swaps (including commodity swaps, swaps on commodity futures, equity swaps, swaps on index futures, total return swaps and interest rate swaps), either by investing directly in the instruments or, indirectly, by investing in the Subsidiary which invests in the instruments. From time to time, the Fund can have significant exposure to non-U.S. dollar denominated currencies, including emerging markets currencies. The instruments (or markets) currently traded by the Fund include over 100 global futures and forwards markets. The Fund may be long or short any of these markets at any given time. The Adviser reserves the right to vary the markets traded over time.

The Adviser will attempt to mitigate risk through diversification of holdings and through monitoring of the portfolio, the Fund’s counterparties, and other risk measures. Individual market positions are constrained to ensure that no one market or asset class represents an outsized portion of the Fund’s portfolio risk. The Adviser evaluates changes in signals daily, and execution is controlled by its intraday risk management and execution platform. The Fund may utilize proprietary or third party trading algorithms in order to minimize market impact and reduce trading costs.

The Fund is “non-diversified” for purposes of the 1940 Act which means that the Fund may invest in fewer securities at any one time than a diversified fund. The Fund may not invest more than 15% of its net assets in illiquid investments.

Investments in the Subsidiary, which has the same investment objective as the Fund, are intended to provide the Fund with indirect exposure to futures contracts and commodities in a manner consistent with the limitations and requirements of the Internal Revenue Code of 1986, as amended (the “Code”) that apply to the Fund, which limit the amount of income the Fund may receive from certain sources. Applicable federal tax requirements generally limit the degree to which the Fund may invest in the Subsidiary to an amount not exceeding 25% of its total assets. To the extent they are applicable to the investment activities of the Subsidiary, the Subsidiary will be subject to the same investment restrictions and limitations, and follow the same compliance policies and procedures, as the Fund. The Fund complies with Section 8 and Section 18 of the 1940 Act, governing investment policies and capital structure and leverage, respectively, on an aggregate basis with the Subsidiary. The Subsidiary also complies with Section 17 of the 1940 Act relating to affiliated transactions and custody.

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EBSIX - Performance

Return Ranking - Trailing

Period EBSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.2% -7.4% 14.6% 21.28%
1 Yr 0.6% -16.1% 36.5% 65.59%
3 Yr 11.9%* -7.9% 13.3% 26.97%
5 Yr 10.4%* -5.3% 10.0% 54.22%
10 Yr 6.4%* -2.4% 4.3% N/A

* Annualized

Return Ranking - Calendar

Period EBSIX Return Category Return Low Category Return High Rank in Category (%)
2023 -3.5% -16.4% 12.9% 44.09%
2022 14.2% -9.3% 17.5% 78.26%
2021 1.2% -25.8% 2.2% 96.51%
2020 3.5% -5.1% 21.0% 35.53%
2019 -5.7% -20.3% 4.6% 78.87%

Total Return Ranking - Trailing

Period EBSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.2% -7.4% 14.6% 21.28%
1 Yr 0.6% -20.3% 36.5% 59.14%
3 Yr 11.9%* -9.0% 11.1% 20.22%
5 Yr 10.4%* -5.7% 8.7% 48.19%
10 Yr 6.4%* -2.4% 4.3% N/A

* Annualized

Total Return Ranking - Calendar

Period EBSIX Return Category Return Low Category Return High Rank in Category (%)
2023 -1.8% -16.4% 12.9% 44.09%
2022 30.9% -9.3% 17.5% 78.26%
2021 9.0% -20.3% 2.5% 96.51%
2020 3.5% -5.1% 21.0% 40.79%
2019 11.7% -20.3% 6.7% 84.51%

NAV & Total Return History


EBSIX - Holdings

Concentration Analysis

EBSIX Category Low Category High EBSIX % Rank
Net Assets 964 M 2.12 M 1.74 B 52.13%
Number of Holdings 136 3 876 37.23%
Net Assets in Top 10 861 M -100 M 2.04 B 21.28%
Weighting of Top 10 91.43% 20.3% 94.0% 0.43%

Top 10 Holdings

  1. United States Treasury Bill 15.77%
  2. United States Treasury Bill 12.96%
  3. United States Treasury Bill 11.46%
  4. United States Treasury Bill 11.09%
  5. U.S. Bank Money Market Deposit Account 11.01%
  6. United States Treasury Bill 10.47%
  7. United States Treasury Bill 10.35%
  8. AUD/USD FWD 20231220 3.63%
  9. GBP/USD FWD 20231220 2.45%
  10. NZD/USD FWD 20231220 2.24%

Asset Allocation

Weighting Return Low Return High EBSIX % Rank
Bonds
72.10% -50.36% 717.59% 4.26%
Cash
30.13% -687.11% 117.03% 94.68%
Stocks
0.00% -1.78% 72.26% 2.13%
Preferred Stocks
0.00% 0.00% 0.13% 43.62%
Convertible Bonds
0.00% 0.00% 2.27% 53.19%
Other
-2.23% 0.00% 58.63% 69.15%

Bond Sector Breakdown

Weighting Return Low Return High EBSIX % Rank
Government
13.65% 0.00% 82.10% 15.96%
Cash & Equivalents
11.01% 1.07% 100.00% 81.91%
Securitized
0.00% 0.00% 64.73% 53.19%
Corporate
0.00% 0.00% 31.20% 57.45%
Municipal
0.00% 0.00% 6.83% 46.81%
Derivative
-2.23% 0.00% 63.99% 20.21%

Bond Geographic Breakdown

Weighting Return Low Return High EBSIX % Rank
US
72.10% -169.44% 233.08% 46.81%
Non US
0.00% -77.11% 655.95% 4.26%

EBSIX - Expenses

Operational Fees

EBSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.87% 0.75% 12.88% 36.56%
Management Fee 1.64% 0.65% 2.99% 82.98%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.09% 0.45% N/A

Sales Fees

EBSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

EBSIX 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.

EBSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 0.00% 0.00% 198.00% 42.86%

EBSIX - Distributions

Dividend Yield Analysis

EBSIX Category Low Category High EBSIX % Rank
Dividend Yield 1.73% 0.00% 0.00% 38.30%

Dividend Distribution Analysis

EBSIX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Annually

Net Income Ratio Analysis

EBSIX Category Low Category High EBSIX % Rank
Net Income Ratio -1.68% -3.14% 1.55% 74.19%

Capital Gain Distribution Analysis

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

Distributions History

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EBSIX - Fund Manager Analysis

Managers

Kevin Cole


Start Date

Tenure

Tenure Rank

Jul 31, 2017

4.84

4.8%

Dr. Kevin Cole, joined Campbell in October 2003 and has served as Chief Research Officer, since June 2017. Dr. Cole was appointed to Campbell’s Board of Directors in January 2019. In February 2017, Dr. Cole was appointed to serve Campbell and its affiliates as an executive officer. Since joining the firm, Dr. Cole has had a significant role in the ongoing research and development of Campbell’s trading systems and models. Dr. Cole was appointed as Co-Chair of Campbell’s Investment Committee in September 2017. As Chief Research Officer, Dr. Cole is responsible for the management of the research and investment process at the firm.

John Radle


Start Date

Tenure

Tenure Rank

Aug 16, 2021

0.79

0.8%

John R. Radle joined Campbell in June 2005 and was appointed Managing Director, Global Head of Trading in October 2012. He was appointed to the Campbell's Investment Committee in April 2013.

Grace Grace Lo


Start Date

Tenure

Tenure Rank

Aug 16, 2021

0.79

0.8%

Dr. Grace Lo joined Campbell in February 2006 and currently serves as a Managing Director. Dr. Lo leads Campbell’s Risk and Portfolio team in Research and is also a member of the firm’s Investment Committee. Dr. Lo was appointed to Campbell’s Investment Committee in March 2010.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.16 14.09 5.41 5.06