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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

$17.42

$16.8 M

0.00%

$0.00

2.09%

Vitals

YTD Return

11.5%

1 yr return

27.8%

3 Yr Avg Return

11.6%

5 Yr Avg Return

7.6%

Net Assets

$16.8 M

Holdings in Top 10

18.2%

52 WEEK LOW AND HIGH

$17.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.09%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 163.00%

Redemption Fee 1.00%


Min Investment

Standard (Taxable)

$25,000

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

$17.42

$16.8 M

0.00%

$0.00

2.09%

GDLFX - Profile

Distributions

  • YTD Total Return 11.5%
  • 3 Yr Annualized Total Return 11.6%
  • 5 Yr Annualized Total Return 7.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.51%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Gotham Defensive Long 500 Fund
  • Fund Family Name
    Gotham
  • Inception Date
    Sep 30, 2016
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Joel Greenblatt

Fund Description

The Fund seeks to achieve its investment objective by investing under normal circumstances in long and short positions of equity and equity-related securities. The Fund invests primarily in U.S. common stocks of companies listed in the S&P 500® Index, but may invest in other large capitalization companies, generally selected from the largest 500 to 700 U.S. companies by market capitalization. It is anticipated that the Fund will hold several hundred positions.

The Fund generally takes long positions in securities that the Adviser believes to be undervalued and short positions in securities that the Adviser believes to be overvalued, based on the Adviser’s analysis of the issuer’s financial reports and market valuation.

The Adviser seeks to capitalize on pricing inefficiencies in the market by employing a systematic, bottom-up, valuation approach based on the Adviser’s proprietary analytical framework to identify companies that appear to be undervalued or overvalued on both an absolute and relative basis. This approach consists of:

Researching and analyzing each company in the Adviser’s coverage universe according to a methodology that emphasizes fundamentals such as recurring earnings, cash flows, capital efficiency, capital structure, and valuation;
Identifying and excluding companies that do not conform to the Adviser’s valuation methodology or companies judged by the Adviser to have questionable financial reporting;
Updating the analysis for earning releases, annual (Form 10-K) and quarterly (Form 10-Q) reports and other corporate filings; and
Recording analysis in a centralized database enabling the Adviser to compare companies and identify longs and shorts based on the Adviser’s assessment of value.

The long portion of the portfolio is generally weighted more heavily towards those stocks that are priced at a larger discount to the Adviser’s assessment of value and the short portion is generally weighted more heavily towards those positions selling at the largest premium to the Adviser’s measures of value, subject to pre-specified risk and diversification constraints. In constructing the portfolio the Adviser pursues a defensive investment style, meaning it seeks to mitigate downside risk in declining markets.

The Fund is rebalanced (generally daily) to maintain exposure levels, manage risk and reposition the portfolio to reflect earnings releases and other new information related to particular companies. The Adviser seeks to maintain the Fund’s net exposure, which is the value of the Fund’s long positions minus its short positions, in the range of approximately 70 – 100%, during normal market conditions. The Adviser expects that the Fund’s gross exposure, which is the value of the Fund’s long positions plus its short positions, will not exceed 290% under normal circumstances.

The Fund currently obtains its long exposure through direct investment in securities and through one or more swaps and its short exposure through one or more swaps. The Fund may lend portfolio securities to brokers, dealers and other financial organizations meeting capital and other credit requirements or other criteria established by the Fund’s Board of Trustees. Loans of portfolio securities will be collateralized by liquid securities and cash. The Fund may invest cash collateral received in securities consistent with its principal investment strategy. Because the Fund generally rebalances its long and short positions daily, the Fund will experience a high portfolio turnover rate.

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GDLFX - Performance

Return Ranking - Trailing

Period GDLFX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.5% -10.3% 17.3% 13.45%
1 Yr 27.8% -13.1% 44.0% 14.62%
3 Yr 11.6%* -21.2% 30.6% 11.26%
5 Yr 7.6%* -4.2% 25.2% 44.20%
10 Yr N/A* -4.2% 9.9% N/A

* Annualized

Return Ranking - Calendar

Period GDLFX Return Category Return Low Category Return High Rank in Category (%)
2023 15.3% -17.3% 43.8% 10.53%
2022 -7.4% -54.0% 17.4% 33.97%
2021 28.6% -40.0% 54.1% 8.67%
2020 -14.8% -47.6% 88.4% 89.58%
2019 13.9% -20.3% 62.6% 19.85%

Total Return Ranking - Trailing

Period GDLFX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.5% -10.3% 17.3% 13.45%
1 Yr 27.8% -13.1% 44.0% 14.62%
3 Yr 11.6%* -21.2% 30.6% 11.26%
5 Yr 7.6%* -4.2% 25.2% 44.20%
10 Yr N/A* -4.2% 9.9% N/A

* Annualized

Total Return Ranking - Calendar

Period GDLFX Return Category Return Low Category Return High Rank in Category (%)
2023 15.3% -14.5% 43.8% 20.47%
2022 -7.2% -54.0% 50.3% 47.44%
2021 29.5% -40.0% 61.6% 12.00%
2020 -13.8% -29.9% 91.0% 96.53%
2019 15.5% -17.9% 79.4% 31.62%

NAV & Total Return History


GDLFX - Holdings

Concentration Analysis

GDLFX Category Low Category High GDLFX % Rank
Net Assets 16.8 M 1.04 M 6.15 B 90.12%
Number of Holdings 447 2 1788 9.47%
Net Assets in Top 10 3.06 M 474 K 1.98 B 92.90%
Weighting of Top 10 18.24% 0.4% 101.9% 91.72%

Top 10 Holdings

  1. Apple Inc 2.97%
  2. Applied Materials Inc 2.01%
  3. Kenvue Inc 1.96%
  4. Microsoft Corp 1.93%
  5. Broadcom Inc 1.89%
  6. Cisco Systems Inc 1.66%
  7. Alphabet Inc 1.55%
  8. TRS MICROSOFT CORP 1.44%
  9. TRS APPLE INC 1.42%
  10. Kimberly-Clark Corp 1.40%

Asset Allocation

Weighting Return Low Return High GDLFX % Rank
Stocks
94.65% 0.00% 102.24% 11.83%
Other
19.95% -45.12% 99.51% 6.51%
Preferred Stocks
0.00% 0.00% 8.72% 64.50%
Convertible Bonds
0.00% -0.02% 4.48% 57.06%
Cash
0.00% 0.00% 102.08% 100.00%
Bonds
0.00% 0.00% 95.60% 69.82%

Stock Sector Breakdown

Weighting Return Low Return High GDLFX % Rank
Healthcare
19.75% 0.00% 100.00% 16.90%
Technology
16.64% 0.00% 43.24% 64.08%
Consumer Defense
15.76% 0.00% 33.38% 7.75%
Financial Services
9.52% 0.00% 83.83% 75.35%
Consumer Cyclical
9.17% 0.00% 88.83% 60.56%
Industrials
8.82% 0.00% 31.93% 57.75%
Communication Services
7.76% 0.00% 32.32% 34.51%
Real Estate
7.28% 0.00% 10.93% 4.23%
Utilities
3.06% 0.00% 21.71% 26.76%
Basic Materials
1.65% 0.00% 28.58% 76.76%
Energy
0.59% 0.00% 32.57% 86.62%

Stock Geographic Breakdown

Weighting Return Low Return High GDLFX % Rank
US
94.65% 0.00% 102.24% 10.06%
Non US
0.00% -3.09% 67.69% 65.09%

GDLFX - Expenses

Operational Fees

GDLFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.09% 0.42% 8.51% 50.58%
Management Fee 1.35% 0.00% 2.50% 70.35%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 1.54% N/A

Sales Fees

GDLFX 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% 4.00% N/A

Trading Fees

GDLFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 0.50% 2.00% 61.90%

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.

GDLFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 163.00% 0.00% 479.00% 58.52%

GDLFX - Distributions

Dividend Yield Analysis

GDLFX Category Low Category High GDLFX % Rank
Dividend Yield 0.00% 0.00% 26.99% 86.55%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

GDLFX Category Low Category High GDLFX % Rank
Net Income Ratio 0.51% -3.33% 2.16% 14.12%

Capital Gain Distribution Analysis

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

Distributions History

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GDLFX - Fund Manager Analysis

Managers

Joel Greenblatt


Start Date

Tenure

Tenure Rank

Sep 30, 2016

5.67

5.7%

Mr. Joel Greenblatt is the Founder and serves as Managing Principal & Co-Chief Investment Officer at Gotham Asset Management. Since 1996, he has been a professor on the adjunct faculty of Columbia Business School where he teaches "Value and Special Situation Investing." Mr. Greenblatt is a director of Pzena Investment Management, Inc., a global investment management firm. He formerly served on the Investment Boards of the University of Pennsylvania and the UJA Federation. Mr. Greenblatt is the author of You Can Be A Stock Market Genius (Simon & Schuster, 1997), The Little Book that Beats the Market (Wiley, 2005), The Little Book that Still Beats the Market (Wiley, 2010), and The Big Secret for the Small Investor (Random House, 2011). He is the Former Chairman of the Board (1994-1995) of Alliant Techsystems, an NYSE-listed aerospace and defense contractor. He holds a BS (1979), summa cum laude, and an MBA (1980) from the Wharton School of the University of Pennsylvania.

Robert Goldstein


Start Date

Tenure

Tenure Rank

Sep 30, 2016

5.67

5.7%

Mr. Robert Goldstein serves as Managing Principal & Co-Chief Investment Officer at Gotham Asset Management. Mr. Goldstein also founded and served as Managing Partner (1989-1997) of Metropolis Partners, value and special situation investment partnership managing capital on behalf of institutions and wealthy individuals before returning capital to outside investors at the end of 1997. Mr. Goldstein currently serves on the Board of Trustees of the Museum of the City of New York. He holds a BA (1988), magna cum laude, from Tufts University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 23.55 6.05 7.93