Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
2.2%
1 yr return
11.8%
3 Yr Avg Return
-1.9%
5 Yr Avg Return
6.5%
Net Assets
$26.8 M
Holdings in Top 10
83.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.30%
SALES FEES
Front Load 5.50%
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
NAVAX - Profile
Distributions
- YTD Total Return 2.2%
- 3 Yr Annualized Total Return -1.9%
- 5 Yr Annualized Total Return 6.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.04%
- Dividend Yield 0.8%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameNavigator Equity Hedged Fund
-
Fund Family NameNavigator Funds
-
Inception DateDec 28, 2010
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerK. Clark
Fund Description
The Funds Adviser seeks to achieve the Funds investment objective by allocating assets across various sectors of the global equity markets by investing primarily in:
● | exchange-traded funds that each invest primarily equity securities; |
● | put options on the Standard & Poors 500 Index for hedging purposes; and |
● | volatility-linked exchange-traded funds, volatility-linked exchange-traded notes, and put and call options on volatility linked exchange traded funds and notes for hedging purposes. |
The Fund defines equity securities to include both (i) ETFs that invest primarily in common stocks and (ii) options on the Standard & Poors 500 Index.
The Fund invests without restriction as to capitalization, country (including emerging markets) or trading currency of the individual equity securities held by the ETFs. However, the Fund is subject to sector limits described below. Under normal market conditions, the Fund invests at least 80% of its assets in equity securities, as defined above.
Global Asset Allocation Process
The Adviser determines global equity sector allocations using its proprietary quantitative relative strength research process. The Advisers research process seeks an optimal asset allocation targeting equity ETF exposure in three areas: (i) U.S. equity markets by issuer capitalization and investment style; (ii) U.S. equity markets by industry sectors and sub-sectors; and (iii) foreign equity markets by region and country. The Adviser has defined minimum and maximum allocation parameters in each area to seek to prevent the process from steering portfolio construction into an over-concentrated position.
The Advisers proprietary research process is applied to rank investments within each of the three targeted market segments. The issuer capitalization and investment style segment groups issuers by their relative market capitalization (e.g. small, mid or large) and by their investment style (e.g. growth or value). Generally, growth refers to issuers with above-average profit or revenue growth, while value refers to issuers with above-average valuation as measured by price to earnings ratio. The sector and sub-sector segment ranks investments in various subsets of the market that share similar characteristics. Securities in the top two relative strength quartiles are investment candidates subject to further research.
A representative ETF is selected for inclusion in the portfolio after it is reviewed for sufficient trading liquidity and its fit within overall portfolio diversification needs. By selecting ETFs using this process, the Adviser expects that the Fund will typically hold between 5 and 15 positions. The Adviser may engage in frequent buying and selling of securities to achieve the Funds investment objective.
Hedging Process
The Adviser applies a hedging strategy to protect the portfolio against significant market declines. The Adviser uses a protective put hedging strategy and/or volatility-linked ETFs and/or volatility-linked exchange traded notes (ETNs) to hedge the Funds equity exposure. In the case of protective puts, the Fund pays a price (referred to as a premium) to purchase a put option that gives the Fund the right to sell a security at a set (strike) price even though the market price may be lower. The protective put strategy is executed using exchange-traded S&P 500 Index put options to hedge the portfolio and to reduce volatility. The protective put strategy seeks to limit downside loss. Generally, S&P 500 put options have an inverse relationship to the S&P 500 Index. In the case of volatility-related hedging, the Fund purchases ETFs and/or ETNs that invest in instruments linked to equity market volatility or the Chicago Board Options Exchange (CBOE) Volatility Index (VIX) futures. Generally, volatility has an inverse relationship to the S&P 500 Index. The Fund invests in volatility-linked instruments to benefit from the expected negative correlation between volatility and equity market returns. Additionally, the Fund may also use various options strategies that involve a combination of buying and/or selling call options on ETFs and/or ETNs to hedge the Fund against volatility and reduce the cost of the hedging strategy. The Funds decision regarding whether to utilize specific strategies will depend upon an evaluation of the available options, swaps, futures, Underlying Funds, ETFs, ETNs or structured notes or other securities, and market conditions, which will dictate to what extent the Fund focuses on its hedging strategies.
NAVAX - Performance
Return Ranking - Trailing
Period | NAVAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.2% | -10.3% | 17.3% | 85.96% |
1 Yr | 11.8% | -13.1% | 44.0% | 71.93% |
3 Yr | -1.9%* | -21.2% | 30.6% | 88.74% |
5 Yr | 6.5%* | -4.2% | 25.2% | 56.52% |
10 Yr | 3.9%* | -4.2% | 9.9% | 69.70% |
* Annualized
Return Ranking - Calendar
Period | NAVAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.5% | -17.3% | 43.8% | 25.73% |
2022 | -17.7% | -54.0% | 17.4% | 78.85% |
2021 | -3.5% | -40.0% | 54.1% | 81.33% |
2020 | 21.2% | -47.6% | 88.4% | 12.50% |
2019 | 9.7% | -20.3% | 62.6% | 44.85% |
Total Return Ranking - Trailing
Period | NAVAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.2% | -10.3% | 17.3% | 85.96% |
1 Yr | 11.8% | -13.1% | 44.0% | 71.93% |
3 Yr | -1.9%* | -21.2% | 30.6% | 88.74% |
5 Yr | 6.5%* | -4.2% | 25.2% | 56.52% |
10 Yr | 3.9%* | -4.2% | 9.9% | 69.70% |
* Annualized
Total Return Ranking - Calendar
Period | NAVAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.5% | -14.5% | 43.8% | 37.43% |
2022 | -16.7% | -54.0% | 50.3% | 87.18% |
2021 | 12.2% | -40.0% | 61.6% | 56.67% |
2020 | 21.6% | -29.9% | 91.0% | 14.58% |
2019 | 10.8% | -17.9% | 79.4% | 57.35% |
NAV & Total Return History
NAVAX - Holdings
Concentration Analysis
NAVAX | Category Low | Category High | NAVAX % Rank | |
---|---|---|---|---|
Net Assets | 26.8 M | 1.04 M | 6.15 B | 86.63% |
Number of Holdings | 16 | 2 | 1788 | 80.47% |
Net Assets in Top 10 | 25.8 M | 474 K | 1.98 B | 66.27% |
Weighting of Top 10 | 82.99% | 0.4% | 101.9% | 20.12% |
Top 10 Holdings
- ISHARES RUSSELL TOP 200 G 17.92%
- ISHARES EDGE MSCI INTL QU 9.13%
- GLOBAL X ROBOTIC 8.90%
- SPDR SP HOMEBUILDERS ETF 8.75%
- DREY-T O C/M-INS 8.21%
- FIRST TRUST DJ INTERNET I 8.03%
- SPDR SP BANK ETF 6.20%
- SPDR SP REGIONAL BANKING 6.04%
- ISHARES EXPANDED TECH-SOF 5.05%
- INVES NASDAQ 100 4.77%
Asset Allocation
Weighting | Return Low | Return High | NAVAX % Rank | |
---|---|---|---|---|
Stocks | 88.55% | 0.00% | 102.24% | 23.67% |
Cash | 10.47% | 0.00% | 102.08% | 68.05% |
Other | 0.97% | -45.12% | 99.51% | 24.85% |
Preferred Stocks | 0.00% | 0.00% | 8.72% | 72.19% |
Convertible Bonds | 0.00% | -0.02% | 4.48% | 67.48% |
Bonds | 0.00% | 0.00% | 95.60% | 74.56% |
Stock Sector Breakdown
Weighting | Return Low | Return High | NAVAX % Rank | |
---|---|---|---|---|
Financial Services | 24.05% | 0.00% | 83.83% | 10.56% |
Technology | 15.08% | 0.00% | 43.24% | 75.35% |
Energy | 11.99% | 0.00% | 32.57% | 6.34% |
Healthcare | 9.44% | 0.00% | 100.00% | 76.76% |
Consumer Cyclical | 8.15% | 0.00% | 88.83% | 69.01% |
Real Estate | 7.22% | 0.00% | 10.93% | 6.34% |
Industrials | 6.83% | 0.00% | 31.93% | 81.69% |
Communication Services | 6.68% | 0.00% | 32.32% | 56.34% |
Consumer Defense | 5.50% | 0.00% | 33.38% | 60.56% |
Basic Materials | 2.58% | 0.00% | 28.58% | 55.63% |
Utilities | 2.48% | 0.00% | 21.71% | 42.25% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | NAVAX % Rank | |
---|---|---|---|---|
US | 88.55% | 0.00% | 102.24% | 22.49% |
Non US | 0.00% | -3.09% | 67.69% | 71.60% |
NAVAX - Expenses
Operational Fees
NAVAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.30% | 0.42% | 8.51% | 40.12% |
Management Fee | 0.75% | 0.00% | 2.50% | 11.63% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 51.58% |
Administrative Fee | N/A | 0.03% | 1.54% | 40.91% |
Sales Fees
NAVAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 5.50% | 2.50% | 5.75% | 61.54% |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
NAVAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.50% | 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.
NAVAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 479.00% | 100.00% |
NAVAX - Distributions
Dividend Yield Analysis
NAVAX | Category Low | Category High | NAVAX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.81% | 0.00% | 26.99% | 63.74% |
Dividend Distribution Analysis
NAVAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annually | Quarterly | Annual |
Net Income Ratio Analysis
NAVAX | Category Low | Category High | NAVAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.04% | -3.33% | 2.16% | 24.12% |
Capital Gain Distribution Analysis
NAVAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 21, 2023 | $0.038 | OrdinaryDividend |
Sep 29, 2023 | $0.045 | OrdinaryDividend |
Dec 22, 2022 | $0.054 | OrdinaryDividend |
Sep 30, 2022 | $0.001 | OrdinaryDividend |
Jun 30, 2022 | $0.044 | OrdinaryDividend |
Mar 31, 2022 | $0.001 | OrdinaryDividend |
Jun 29, 2021 | $0.018 | OrdinaryDividend |
Mar 30, 2021 | $0.001 | OrdinaryDividend |
Dec 23, 2020 | $0.016 | OrdinaryDividend |
Jun 29, 2020 | $0.020 | OrdinaryDividend |
Dec 23, 2019 | $0.052 | OrdinaryDividend |
Jun 27, 2019 | $0.031 | OrdinaryDividend |
Dec 24, 2018 | $0.071 | OrdinaryDividend |
Jun 28, 2018 | $0.008 | OrdinaryDividend |
Dec 27, 2016 | $0.075 | OrdinaryDividend |
Dec 28, 2015 | $0.029 | OrdinaryDividend |
Dec 26, 2014 | $0.009 | OrdinaryDividend |
Dec 24, 2012 | $0.004 | OrdinaryDividend |
Dec 28, 2011 | $0.011 | OrdinaryDividend |
NAVAX - Fund Manager Analysis
Managers
K. Clark
Start Date
Tenure
Tenure Rank
Dec 28, 2010
11.43
11.4%
As Clark Capital’s Chief Investment Officer, Sean oversees all of the Firm’s investment activities and heads the firm’s portfolio team. Sean joined the firm in 1993 and is responsible for asset allocation and investment selection for Navigator Investment Solutions as well as directing ongoing market research and contributing to the development of proprietary products. Sean is a member of the Clark Capital Investment Team and the Executive Team. He graduated from the University of Delaware, earning a B.S. and an M.A. in Economics. Sean holds the Chartered Financial Analyst® designation and is a member of the CFA Institute (formerly AIMR) and the Financial Analysts of Philadelphia, Inc. Sean is considered an industry expert and is often asked to appear on CNBC and Bloomberg television to share his views on the market. In addition, Sean has been featured in a number of articles in nationally distributed business journals and newspapers. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
Mason Wev
Start Date
Tenure
Tenure Rank
Jan 29, 2018
4.34
4.3%
Mason joined Clark Capital Management Group, Inc. in 2005 as a Portfolio Manager He is a member of the Clark Capital Investment Team, contributing to asset allocation policy and security selection. Mason has more than a decade of experience in the investment industry. He is responsible for quantitative investment analysis, security selection, and communicating the firm’s investment policy to wealth advisors and consultants. He participates in the research and product development efforts of the Portfolio Team. A graduate of Dickinson College, Mason earned an M.B.A. in International Management from the Garvin School of Management at Thunderbird (the American Graduate School of International Management). He is a CFA® charterholder, a Chartered Market Technician, and holds the Chartered Alternative Investment Analyst® (CAIA®) designation.
David Rights
Start Date
Tenure
Tenure Rank
Jan 29, 2018
4.34
4.3%
As Director of Research David directs the ongoing research into securities selection and portfolio strategies used to enhance the Navigator® investment programs. In the late 1970s, David began to develop economically based, quantitatively driven econometric models. He has also developed technical models used to enhance relative returns and reduce the risks of ETF and fund based products. David is a member of the Clark Capital Investment Team. David was formerly President and Chief Investment Officer of RTE Asset Management which merged with Clark Capital in 2005. He holds a degree in Electrical Engineering from Lehigh University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 23.55 | 6.05 | 7.93 |