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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

$9.35

$26.8 M

0.81%

$0.08

2.30%

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

$9.3
N/A
N/A

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 03/27/2024

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

$9.35

$26.8 M

0.81%

$0.08

2.30%

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%
DIVIDENDS
  • Dividend Yield 0.8%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Navigator Equity Hedged Fund
  • Fund Family Name
    Navigator Funds
  • Inception Date
    Dec 28, 2010
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    K. Clark

Fund Description

The Fund’s Adviser seeks to achieve the Fund’s 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 & Poor’s 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 & Poor’s 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 Adviser’s 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 Adviser’s 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 Fund’s 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 Fund’s 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 Fund’s 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.

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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

  1. ISHARES RUSSELL TOP 200 G 17.92%
  2. ISHARES EDGE MSCI INTL QU 9.13%
  3. GLOBAL X ROBOTIC 8.90%
  4. SPDR SP HOMEBUILDERS ETF 8.75%
  5. DREY-T O C/M-INS 8.21%
  6. FIRST TRUST DJ INTERNET I 8.03%
  7. SPDR SP BANK ETF 6.20%
  8. SPDR SP REGIONAL BANKING 6.04%
  9. ISHARES EXPANDED TECH-SOF 5.05%
  10. 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

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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