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Trending ETFs

Name

As of 12/15/2023

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

$8.80

$125 M

3.41%

$0.30

0.68%

Vitals

YTD Return

-2.0%

1 yr return

-2.6%

3 Yr Avg Return

-3.3%

5 Yr Avg Return

0.2%

Net Assets

$125 M

Holdings in Top 10

48.7%

52 WEEK LOW AND HIGH

$8.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.68%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 311.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000

IRA

$1,500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/15/2023

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

$8.80

$125 M

3.41%

$0.30

0.68%

OSTRX - Profile

Distributions

  • YTD Total Return -2.0%
  • 3 Yr Annualized Total Return -3.3%
  • 5 Yr Annualized Total Return 0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.59%
DIVIDENDS
  • Dividend Yield 3.4%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Osterweis Total Return Fund
  • Fund Family Name
    Osterweis
  • Inception Date
    Dec 30, 2016
  • Shares Outstanding
    13887848
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Eddy Vataru

Fund Description

Under normal circumstances, the Fund intends to primarily invest in investment grade fixed income instruments and derivatives thereon. These fixed income instruments may include, but are not limited to, U.S. Federal and Agency obligations, investment grade corporate debt, mortgage backed securities (including privately issued mortgage backed securities), asset backed securities, floating-rate debt, convertible debt, collateralized debt, municipal debt, foreign debt (including in emerging markets) and/or depositary receipts, sovereign debt and preferred stock. Of the government agency securities, the Fund expects to hold significant amounts of Treasuries and mortgage-backed securities guaranteed by the Government National Mortgage Association (GNMA) or government-sponsored enterprises, such as mortgages backed by the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC). Un-rated securities may be deemed investment grade, particularly in the case of government agency securities and their derivatives. At least 80% of its net assets will be invested in investment grade fixed income instruments and derivatives thereon. Additionally, the Fund may hold up to 20% of its assets in high yield debt securities (“junk bonds”).
The Fund’s allocation among various fixed income instruments is based on the portfolio managers’ assessment of opportunities for total return relative to the risk of each type of investment. The Fund does not target a specific average maturity or duration (duration is a measure of price sensitivity related to changes in interest rates). The Fund may invest in fixed income instruments of any maturity or duration. Duration can change based on market fluctuations. The Fund may invest without limitation in derivative instruments including swaps, options and futures. The Fund’s primary use of derivatives will be to refine interest rate exposure and/or hedge various other investment exposures. Although the use of derivatives can involve leverage, the Fund does not intend to use derivatives to amplify its net investment exposure. Separately, the Fund may invest up to 20% of its assets in foreign debt (including in emerging markets) and/or depositary receipts. The Fund may also invest in other investment companies and exchange-traded funds (“ETFs”), for the purpose of gaining exposure to certain markets while maintaining liquidity.
Osterweis Capital Management, LLC (the “Adviser”) may sell a security when it believes doing so is appropriate and consistent with the Fund’s investment objective and policies or when conditions affecting relevant markets, particular industries or individual issues warrant such action, regardless of the effect on the Fund’s portfolio turnover rate.
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OSTRX - Performance

Return Ranking - Trailing

Period OSTRX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.0% -7.7% 20.6% 96.26%
1 Yr -2.6% -10.0% 20.0% 96.56%
3 Yr -3.3%* -17.4% 18.3% 91.10%
5 Yr 0.2%* -11.7% 14.5% 88.28%
10 Yr N/A* -13.0% 6.6% N/A

* Annualized

Return Ranking - Calendar

Period OSTRX Return Category Return Low Category Return High Rank in Category (%)
2023 -7.8% -31.8% 18.4% 22.75%
2022 -2.2% -26.6% 25.7% 64.67%
2021 1.6% -49.2% 18.7% 54.34%
2020 2.8% -35.1% 15.3% 74.13%
2019 -2.3% -48.0% 3.4% 12.32%

Total Return Ranking - Trailing

Period OSTRX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.0% -7.7% 20.6% 96.26%
1 Yr -2.6% -10.0% 20.0% 96.56%
3 Yr -3.3%* -17.4% 18.3% 91.10%
5 Yr 0.2%* -11.7% 14.5% 88.28%
10 Yr N/A* -13.0% 6.6% N/A

* Annualized

Total Return Ranking - Calendar

Period OSTRX Return Category Return Low Category Return High Rank in Category (%)
2023 -6.3% -31.8% 21.1% 31.76%
2022 0.6% -13.5% 49.9% 70.50%
2021 5.1% -28.6% 24.1% 55.20%
2020 6.5% -4.8% 19.1% 73.03%
2019 1.3% -37.3% 8.0% 12.73%

NAV & Total Return History


OSTRX - Holdings

Concentration Analysis

OSTRX Category Low Category High OSTRX % Rank
Net Assets 125 M 2.32 M 127 B 78.33%
Number of Holdings 92 2 11525 82.14%
Net Assets in Top 10 61.1 M -1.57 B 54.9 B 67.94%
Weighting of Top 10 48.70% 0.8% 178.3% 25.30%

Top 10 Holdings

  1. Fannie Mae Pool 7.31%
  2. Fannie Mae Pool 7.27%
  3. United States Treasury Note/Bond 5.42%
  4. Freddie Mac Pool 5.03%
  5. Fannie Mae Pool 4.38%
  6. United States Treasury Note/Bond 4.37%
  7. United States Treasury Note/Bond 3.89%
  8. United States Treasury Note/Bond 3.85%
  9. United States Treasury Note/Bond 3.77%
  10. United States Treasury Note/Bond 3.41%

Asset Allocation

Weighting Return Low Return High OSTRX % Rank
Bonds
80.52% -150.81% 194.41% 64.86%
Other
16.12% -57.67% 102.97% 16.98%
Preferred Stocks
2.06% 0.00% 33.27% 7.17%
Cash
1.30% -94.66% 258.91% 75.70%
Convertible Bonds
0.78% 0.00% 33.50% 59.31%
Stocks
0.00% -4.16% 102.94% 95.31%

Bond Sector Breakdown

Weighting Return Low Return High OSTRX % Rank
Securitized
58.97% 0.00% 99.65% 11.92%
Corporate
25.42% 0.00% 97.25% 61.54%
Government
13.67% 0.00% 99.43% 42.53%
Cash & Equivalents
0.71% 0.00% 99.42% 76.06%
Derivative
0.00% -57.67% 45.81% 68.87%
Municipal
0.00% 0.00% 54.26% 90.20%

Bond Geographic Breakdown

Weighting Return Low Return High OSTRX % Rank
US
80.52% -151.11% 194.41% 45.83%
Non US
0.00% 0.00% 71.12% 92.97%

OSTRX - Expenses

Operational Fees

OSTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.68% 0.01% 18.79% 85.99%
Management Fee 0.45% 0.00% 2.29% 18.75%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

OSTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

OSTRX 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.

OSTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 311.00% 0.00% 632.00% 95.20%

OSTRX - Distributions

Dividend Yield Analysis

OSTRX Category Low Category High OSTRX % Rank
Dividend Yield 3.41% 0.00% 12.76% 86.36%

Dividend Distribution Analysis

OSTRX Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Monthly Quarterly

Net Income Ratio Analysis

OSTRX Category Low Category High OSTRX % Rank
Net Income Ratio 0.59% -1.55% 11.51% 95.39%

Capital Gain Distribution Analysis

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

Distributions History

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OSTRX - Fund Manager Analysis

Managers

Eddy Vataru


Start Date

Tenure

Tenure Rank

Dec 30, 2016

5.42

5.4%

Mr. Eddy Vataru serves as Vice President and Chief Investment Officer - Total Return for Osterweis Capital Management, Inc. Prior to working at the Osterweis Capital Management, Inc, Mr. Vataru was the Managing Director, Senior Portfolio Manager at Incapture, LLC from 2013 to 2015. Before that, he was Director, Senior Portfolio Manager at Citadel, LLC from 2011 to 2012. He also served as Managing Director and Head of U.S. Rates/Mortgages at BlackRock (formerly, Barclays Global Investors) from 2009 to 2011. Mr. Vataru graduated from California Institute of Technology (B.S. Chemistry & Economics) and Olin Business School at Washington University in St. Louis (MBA).

John Sheehan


Start Date

Tenure

Tenure Rank

May 16, 2018

4.04

4.0%

Mr. John P. Sheehan serves as a Vice president&Portfolio Manager of Osterweis Capital Management Inc. and Osterweis Capital Management LLC. Prior to joining Osterweis in 2018, he was a Managing Director at Citigroup responsible for West Coast Investment Grade Sales from 2010-2016 and was the Head of Investment Grade Syndicate from 1994-2010. Mr. Sheehan earned a B.A. from Georgetown University.

Daniel Oh


Start Date

Tenure

Tenure Rank

May 21, 2018

4.03

4.0%

Mr. Daniel S. Oh serves as a Portfolio Manager of Osterweis Capital Management Inc. and Osterweis Capital Management LLC. Prior to joining Osterweis in 2018, he was a Director, Fixed Income Portfolio Management at Estabrook Capital Management from 2009 to 2018. Prior to that he was an Associate, Prime/Alt-A Non-Agency Mortgage Trading from 2005-2008. From 2001-2003 he was a Senior Analyst at Seneca Financial Group and from 1998-2001 he was a Fixed Income Analyst at Morgan Stanley. Mr. Oh earned a B.A. from Columbia University and an M.B.A. from the University of Michigan, Stephen M. Ross School of Business.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.71 3.19