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Trending ETFs

Name

As of 03/26/2024

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

$16.12

$11.6 M

0.27%

$0.04

1.76%

Vitals

YTD Return

3.9%

1 yr return

20.9%

3 Yr Avg Return

6.8%

5 Yr Avg Return

N/A

Net Assets

$11.6 M

Holdings in Top 10

23.6%

52 WEEK LOW AND HIGH

$16.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.76%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 22.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

$16.12

$11.6 M

0.27%

$0.04

1.76%

FSMBX - Profile

Distributions

  • YTD Total Return 3.9%
  • 3 Yr Annualized Total Return 6.8%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.04%
DIVIDENDS
  • Dividend Yield 0.3%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Tributary Small/Mid Cap Fund
  • Fund Family Name
    Tributary Funds
  • Inception Date
    Aug 02, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Donald Radtke

Fund Description

Under normal market conditions, the Fund intends to invest at least 80% of its assets (defined as net assets plus borrows for investment purposes), in common stocks and securities that can be converted into common stocks, such as convertible bonds, convertible preferred stocks, options, and rights of companies with small- or mid-market capitalizations. The Fund defines small- and mid-market capitalization companies as companies with market capitalizations of up to $30 billion. Generally, the Fund intends to purchase securities of companies whose market capitalizations fall within the range of the market capitalizations of those companies included in the Russell 2500 Index, at the time of purchase, and to sell companies when market capitalizations exceed $30 billion. The capitalization of companies in the Russell 2500™ Index is up to $17.76 billion as of June 30, 2023. The Fund may also invest up to 20% of its assets in foreign securities either directly or through the purchase of sponsored or unsponsored American Depositary Receipts (“ADRs”). ADRs are receipts typically issued by a U.S. bank or trust company evidencing ownership of the underlying securities and may be issued as sponsored or unsponsored programs.

The investment adviser seeks to implement a core investment approach to the portfolio with a value bias, targeting companies whose stock is trading below what the investment adviser considers its intrinsic value. The investment adviser may also consider other factors, including price-to-earnings ratio, balance sheet strength, cash flow, capital usage efficiency, management style and adaptability, market share, product lines and pricing flexibility, distribution systems, and use of technology to improve productivity and quality.

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FSMBX - Performance

Return Ranking - Trailing

Period FSMBX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.9% -8.3% 24.0% 92.60%
1 Yr 20.9% -2.6% 55.1% 73.70%
3 Yr 6.8%* -20.2% 17.4% 31.44%
5 Yr N/A* -0.1% 21.0% N/A
10 Yr N/A* 2.2% 13.4% N/A

* Annualized

Return Ranking - Calendar

Period FSMBX Return Category Return Low Category Return High Rank in Category (%)
2023 15.0% -12.9% 28.8% 31.40%
2022 -15.3% -52.6% 20.1% 25.00%
2021 28.8% -43.8% 32.4% 1.98%
2020 12.5% -10.6% 82.1% 28.02%
2019 N/A -8.5% 37.5% N/A

Total Return Ranking - Trailing

Period FSMBX Return Category Return Low Category Return High Rank in Category (%)
YTD 3.9% -8.3% 24.0% 92.60%
1 Yr 20.9% -2.6% 55.1% 73.70%
3 Yr 6.8%* -20.2% 17.4% 31.44%
5 Yr N/A* -0.1% 21.0% N/A
10 Yr N/A* 2.2% 13.4% N/A

* Annualized

Total Return Ranking - Calendar

Period FSMBX Return Category Return Low Category Return High Rank in Category (%)
2023 15.4% 1.2% 31.3% 55.10%
2022 -13.8% -45.7% 21.1% 41.39%
2021 33.4% -30.2% 52.8% 1.70%
2020 12.7% -8.4% 84.3% 51.62%
2019 N/A 1.0% 43.4% N/A

NAV & Total Return History


FSMBX - Holdings

Concentration Analysis

FSMBX Category Low Category High FSMBX % Rank
Net Assets 11.6 M 728 K 139 B 94.59%
Number of Holdings 58 1 2609 71.35%
Net Assets in Top 10 3.1 M 155 K 11.7 B 94.32%
Weighting of Top 10 23.63% 0.5% 126.5% 43.90%

Top 10 Holdings

  1. Tractor Supply Co. 2.75%
  2. Burlington Stores, Inc. 2.60%
  3. Revvity, Inc. 2.37%
  4. PTC, Inc. 2.37%
  5. Stifel Financial Corp. 2.34%
  6. Molina Healthcare, Inc. 2.31%
  7. Tetra Tech, Inc. 2.25%
  8. Carlisle Cos., Inc. 2.22%
  9. ICF International, Inc. 2.22%
  10. Ollie's Bargain Outlet Holdings, Inc. 2.20%

Asset Allocation

Weighting Return Low Return High FSMBX % Rank
Stocks
99.40% 0.00% 104.46% 25.95%
Cash
0.73% 0.00% 99.15% 66.22%
Preferred Stocks
0.00% 0.00% 14.30% 89.46%
Other
0.00% -1.04% 25.16% 84.05%
Convertible Bonds
0.00% 0.00% 1.78% 89.19%
Bonds
0.00% 0.00% 98.67% 89.73%

Stock Sector Breakdown

Weighting Return Low Return High FSMBX % Rank
Technology
20.98% 0.00% 40.65% 14.09%
Industrials
17.15% 0.00% 45.89% 45.53%
Financial Services
15.52% 0.00% 46.10% 26.02%
Healthcare
11.27% 0.00% 24.06% 33.88%
Consumer Cyclical
10.76% 2.49% 46.48% 66.67%
Real Estate
7.23% 0.00% 25.82% 56.91%
Consumer Defense
4.29% 0.00% 32.18% 37.67%
Energy
3.68% 0.00% 58.13% 71.27%
Basic Materials
3.62% 0.00% 16.35% 83.47%
Communication Services
2.80% 0.00% 30.98% 45.80%
Utilities
2.69% 0.00% 18.97% 65.31%

Stock Geographic Breakdown

Weighting Return Low Return High FSMBX % Rank
US
99.40% 0.00% 104.46% 21.62%
Non US
0.00% 0.00% 19.95% 90.27%

FSMBX - Expenses

Operational Fees

FSMBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.76% 0.03% 35.91% 13.35%
Management Fee 0.85% 0.00% 1.50% 88.59%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.25% 0.01% 0.30% 91.51%

Sales Fees

FSMBX 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% 4.00% N/A

Trading Fees

FSMBX 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.

FSMBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 22.00% 0.00% 304.00% 23.56%

FSMBX - Distributions

Dividend Yield Analysis

FSMBX Category Low Category High FSMBX % Rank
Dividend Yield 0.27% 0.00% 29.52% 77.30%

Dividend Distribution Analysis

FSMBX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Annual Annual

Net Income Ratio Analysis

FSMBX Category Low Category High FSMBX % Rank
Net Income Ratio 0.04% -2.06% 3.38% 69.57%

Capital Gain Distribution Analysis

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

Distributions History

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FSMBX - Fund Manager Analysis

Managers

Donald Radtke


Start Date

Tenure

Tenure Rank

Aug 01, 2019

2.83

2.8%

Don serves as portfolio manager for the Small/Mid Cap Equity, Large Cap and Equity Income strategies and is responsible for covering the energy and industrial sectors for the investment team. Don has 30 years of financial industry experience and joined Tributary Capital Management's predecessor, First Investment Group, in 2007. Prior to joining Tributary Capital Management, Don spent over seven years as an equity and fixed income analyst and fund co-manager for WB Capital Management in Des Moines, Iowa. He was also an analyst at Bank of America Capital Management in St. Louis, Missouri, and Piper Jaffray and Craig-Hallum in Minneapolis, Minnesota. He received his Bachelor of Arts in economics from the University of Wisconsin-Milwaukee and Masters of Business Administration from the University of Minnesota.

Mark Wynegar


Start Date

Tenure

Tenure Rank

Aug 01, 2019

2.83

2.8%

Mark is the president of Tributary Capital Management and is a portfolio manager for the firm’s Small Cap, Small/Mid Cap and All Cap Equity strategies. Mark has over 25 years of industry experience and joined Tributary Capital Management’s predecessor, First Investment Group, in 1999. Prior to joining Tributary, he worked for five years at Westchester Capital Management as a senior securities analyst and two years at Union Pacific Railroad as a financial analyst, both in Omaha, Nebraska. Mark received his Bachelor of Science in Business Administration from the University of Nebraska-Lincoln. He earned his Chartered Financial Analyst (CFA) designation in 1997. Mark is a member of the CFA Society of Nebraska and the CFA Institute. He served on the Board of Directors of the CFA Society of Nebraska from 2002 to 2009, serving as president during 2007 and 2008.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 38.44 7.25 5.78