Name
As of 04/24/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
4.6%
1 yr return
12.3%
3 Yr Avg Return
2.6%
5 Yr Avg Return
9.1%
Net Assets
$706 M
Holdings in Top 10
38.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.02%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 31.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/24/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
ERBIX - Profile
Distributions
- YTD Total Return 4.6%
- 3 Yr Annualized Total Return 2.6%
- 5 Yr Annualized Total Return 9.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.87%
- Dividend Yield 1.4%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameEaton Vance Richard Bernstein Equity Strategy Fund
-
Fund Family NameEATONVANCE
-
Inception DateOct 12, 2010
-
Shares Outstanding34406705
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRichard Bernstein
Fund Description
Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities and derivative instruments that provide exposure to equity securities (the “80% Policy”). The Fund may invest up to 20% of its net assets in fixed-income securities, including securities rated below investment grade and comparable unrated securities (“junk”); other fixed and floating-rate income instruments; and/or in currencies. The Fund may invest an unlimited amount of its assets in foreign securities issued by companies domiciled in developed or emerging market countries including frontier markets. Such investments may include securities denominated in foreign currencies and securities trading in the form of depositary receipts, including American Depositary Receipts sponsored or unsponsored and Global Depositary Receipts. The Fund may invest in stocks of companies of any capitalization, publicly traded real estate investment trusts (“REITs”) and exchange-traded notes (“ETNs”). The Fund may invest in exchange-traded funds (“ETFs”), a type of pooled investment vehicle, in order to manage cash positions or seek exposure to certain markets or market sectors.
The Fund may engage in derivative transactions to seek return, to seek to hedge against fluctuations in securities prices, interest rates or currency exchange rates, or as a substitute for the purchase or sale of securities or currencies. The Fund expects to use derivatives principally when seeking to gain exposure to equity securities using futures contracts on securities indices and/or when seeking to gain or reduce exposure to certain currencies by buying or selling forward foreign currency exchange contracts. However, the Fund may also purchase or sell forwards or other types of futures contracts; options on futures contracts; exchange-traded and over-the-counter options; equity collars; equity-linked securities; equity swap agreements and other derivatives as described in the prospectus. The Fund may also engage in covered short sales (on individual securities held or on an index or basket of securities whose constituents are held in whole or in part or for which liquid assets have been segregated) and forward commitments. Except as required by applicable regulation, there is no stated limit on the Fund’s use of derivatives for such purposes. The Fund may also lend its securities.
The Fund is managed in a macro-driven, top-down style that emphasizes and de-emphasizes various global equity market segments at different times. Market segments chosen for emphasis and/or de-emphasis may vary from general market consensus views and the Fund may at times seek to identify areas where, in the sub-adviser’s opinion, there is scarcity of capital and/or potentially overlooked investment opportunities. In using this “beta” management style, leading exposures to investment types will vary among growth and value; small, mid and large cap; U.S. and non-U.S., and developed and emerging markets, based on the sub-adviser’s assessment of a range of proprietary and non-proprietary quantitative indicators and the firm’s macro-economic analysis and judgment. It is expected that the macro-economic factors and indicators will evolve over time and may include the following: global equity market valuations; global yield curves; asset class, regional, and country correlations; profit cycle analyses and style and sector rotation; expected beta; estimate revisions and earnings surprises; investor sentiment and other factors. In selecting securities and other instruments, the portfolio managers employ quantitative screening and optimization tools to achieve desired market exposures while seeking to manage stock-specific and other observable market risks. The portfolio is monitored on an ongoing basis and rebalanced as necessary to seek to ensure that desired market exposures and risk parameters are maintained. Stocks may be sold if they exhibit performance that might counteract the desired exposures or to implement a revised allocation based on a modified top-down view. A security may also be sold if the sub-adviser believes it exhibits unusual volatility or price movement.
The Fund will exercise a flexible strategy and is not limited by investment style or by an issuer’s location, size, market capitalization or industry sector. The strategy may have none, some or all of its assets invested in a particular market segment at a given time, and across market segments in relative proportions that change over time. At any time, up to 100% of the Fund’s assets may be invested in either U.S. or foreign securities, including issuers domiciled in emerging market countries.
ERBIX - Performance
Return Ranking - Trailing
Period | ERBIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.6% | -35.6% | 29.2% | 14.32% |
1 Yr | 12.3% | 17.3% | 252.4% | 73.18% |
3 Yr | 2.6%* | -3.5% | 34.6% | 53.53% |
5 Yr | 9.1%* | 0.1% | 32.7% | 44.30% |
10 Yr | 7.7%* | -6.9% | 18.3% | 54.17% |
* Annualized
Return Ranking - Calendar
Period | ERBIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.3% | -24.3% | 957.1% | 49.05% |
2022 | -19.5% | -38.3% | 47.1% | 79.14% |
2021 | 3.8% | -54.2% | 0.6% | 62.85% |
2020 | 13.5% | -76.0% | 54.1% | 73.79% |
2019 | 14.9% | -26.1% | 47.8% | 15.79% |
Total Return Ranking - Trailing
Period | ERBIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 4.6% | -35.6% | 29.2% | 14.65% |
1 Yr | 12.3% | 11.4% | 252.4% | 69.20% |
3 Yr | 2.6%* | -3.5% | 34.6% | 50.36% |
5 Yr | 9.1%* | 0.1% | 32.7% | 42.68% |
10 Yr | 7.7%* | -6.9% | 18.3% | 53.06% |
* Annualized
Total Return Ranking - Calendar
Period | ERBIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.6% | -24.3% | 957.1% | 49.05% |
2022 | -14.8% | -33.1% | 47.1% | 79.39% |
2021 | 17.5% | -44.4% | 1.8% | 74.56% |
2020 | 16.5% | -6.5% | 54.1% | 58.86% |
2019 | 25.7% | -14.4% | 47.8% | 7.50% |
NAV & Total Return History
ERBIX - Holdings
Concentration Analysis
ERBIX | Category Low | Category High | ERBIX % Rank | |
---|---|---|---|---|
Net Assets | 706 M | 199 K | 133 B | 38.93% |
Number of Holdings | 264 | 1 | 9075 | 15.53% |
Net Assets in Top 10 | 271 M | -18 M | 37.6 B | 47.69% |
Weighting of Top 10 | 38.32% | 9.1% | 100.0% | 75.06% |
Top 10 Holdings
- iShares MSCI China ETF 7.78%
- Microsoft Corp 4.11%
- iShares MSCI India ETF 4.09%
- State Street Navigator Securities Lending Government Money Market Portfolio 4.02%
- Apple Inc 4.00%
- iShares MSCI Taiwan ETF 3.82%
- iShares MSCI South Korea ETF 2.85%
- Morgan Stanley Institutional Liquidity Funds - Government Portfolio 2.77%
- NVIDIA Corp 2.64%
- Amazon.com Inc 2.26%
Asset Allocation
Weighting | Return Low | Return High | ERBIX % Rank | |
---|---|---|---|---|
Stocks | 97.11% | 61.84% | 125.47% | 37.33% |
Cash | 6.79% | -174.70% | 23.12% | 70.26% |
Preferred Stocks | 0.00% | -0.01% | 5.28% | 5.51% |
Other | 0.00% | -13.98% | 19.14% | 61.45% |
Convertible Bonds | 0.00% | 0.00% | 4.46% | 52.31% |
Bonds | 0.00% | -1.50% | 161.67% | 54.41% |
Stock Sector Breakdown
Weighting | Return Low | Return High | ERBIX % Rank | |
---|---|---|---|---|
Financial Services | 17.53% | 0.00% | 38.42% | 18.28% |
Technology | 15.06% | 0.00% | 49.87% | 76.10% |
Industrials | 11.80% | 0.00% | 44.06% | 34.25% |
Consumer Defense | 10.90% | 0.00% | 73.28% | 45.04% |
Healthcare | 10.58% | 0.00% | 35.42% | 55.40% |
Consumer Cyclical | 7.99% | 0.00% | 40.94% | 65.31% |
Energy | 6.75% | 0.00% | 21.15% | 4.41% |
Basic Materials | 6.71% | 0.00% | 38.60% | 9.47% |
Communication Services | 5.66% | 0.00% | 57.66% | 76.65% |
Utilities | 5.10% | 0.00% | 29.12% | 67.62% |
Real Estate | 1.92% | 0.00% | 39.48% | 63.00% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | ERBIX % Rank | |
---|---|---|---|---|
US | 74.33% | 0.13% | 103.82% | 34.58% |
Non US | 22.78% | 0.58% | 99.46% | 59.47% |
ERBIX - Expenses
Operational Fees
ERBIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.02% | 0.01% | 44.27% | 65.79% |
Management Fee | 0.83% | 0.00% | 1.82% | 88.73% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.76% | N/A |
Sales Fees
ERBIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
ERBIX 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.
ERBIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 31.00% | 0.00% | 395.00% | 35.67% |
ERBIX - Distributions
Dividend Yield Analysis
ERBIX | Category Low | Category High | ERBIX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.36% | 0.00% | 3.26% | 52.08% |
Dividend Distribution Analysis
ERBIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Annually | Annually |
Net Income Ratio Analysis
ERBIX | Category Low | Category High | ERBIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.87% | -4.27% | 12.65% | 47.50% |
Capital Gain Distribution Analysis
ERBIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 29, 2023 | $1.445 | OrdinaryDividend |
Dec 28, 2022 | $0.930 | OrdinaryDividend |
Dec 08, 2021 | $2.530 | OrdinaryDividend |
Dec 05, 2018 | $0.047 | OrdinaryDividend |
Dec 22, 2017 | $0.090 | OrdinaryDividend |
Dec 23, 2016 | $0.161 | OrdinaryDividend |
Dec 24, 2015 | $0.326 | OrdinaryDividend |
Dec 24, 2014 | $0.121 | OrdinaryDividend |
Dec 24, 2013 | $0.087 | OrdinaryDividend |
Dec 21, 2012 | $0.156 | OrdinaryDividend |
Dec 29, 2011 | $0.084 | OrdinaryDividend |
ERBIX - Fund Manager Analysis
Managers
Richard Bernstein
Start Date
Tenure
Tenure Rank
Oct 12, 2010
11.64
11.6%
Richard Bernstein is the CEO and CIO (Chief Investment Officer) of Richard Bernstein Advisors (RBA), which he founded in 2009. Prior to RBA, Mr. Bernstein was Chief Investment Strategist (2006-2009) and Chief U.S. Strategist (2001-2006) at Merrill Lynch & Co. Mr. Griswold is the Director of Investments at RBA (since 2010). . A much-noted expert on style investing and asset allocation, Mr. Bernstein was voted to Institutional Investor magazine’s annual “All-America Research Team” eighteen years, and is one of only fifty analysts inducted into the Institutional Investor “Hall of Fame”.
Henry Timmons
Start Date
Tenure
Tenure Rank
Jan 01, 2017
5.41
5.4%
Henry Timmons is the senior quantitative analyst at Richard Bernstein Advisors LLC. Mr. Timmons is responsible for asset allocation, portfolio construction, risk management and ETF research. Before joining RBA, Mr. Timmons was a portfolio manager and quantitative analyst at Grantham, Mayo, Van Otterloo & Co. LLC. While at GMO, Mr. Timmons evaluated quantitative and fundamental sources of alpha as potential inputs to the investment process, while assisting in constructing and managing portfolios. Prior to GMO, Mr. Timmons was a management consultant at PricewaterhouseCoopers LLP, where he designed forecasting models improving supply-chain management processes for various clients. Henry holds a BS in mechanical engineering and an MEng in systems engineering and engineering management from Cornell University, and an MBA in finance from Cornell University's SC Johnson College of Business. He is a Chartered Financial Analyst® charterholder.
Matthew Griswold
Start Date
Tenure
Tenure Rank
Jan 01, 2017
5.41
5.4%
Before joining RBA, Mr. Griswold was a vice president and portfolio manager at State Street Global Advisors, with responsibility for the design, execution and evaluation of both new and existing global investment strategies. His extensive portfolio management experience spans most major asset classes and includes both quantitative and fundamental investment disciplines. For almost 20 years, Matt assumed a wide variety of leadership positions within State Street in areas of portfolio construction, research, performance measurement, risk analysis, mutual fund administration and client service.
Dan Suzuki
Start Date
Tenure
Tenure Rank
May 01, 2021
1.08
1.1%
Dan Suzuki is the Deputy CIO at Richard Bernstein Advisors.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.01 | 35.82 | 6.24 | 1.25 |