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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

$14.66

$366 M

3.81%

$0.56

0.91%

Vitals

YTD Return

-0.3%

1 yr return

3.8%

3 Yr Avg Return

-2.2%

5 Yr Avg Return

N/A

Net Assets

$366 M

Holdings in Top 10

29.1%

52 WEEK LOW AND HIGH

$14.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.91%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 227.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

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

$14.66

$366 M

3.81%

$0.56

0.91%

PMFQX - Profile

Distributions

  • YTD Total Return -0.3%
  • 3 Yr Annualized Total Return -2.2%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.72%
DIVIDENDS
  • Dividend Yield 3.8%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    PMC Core Fixed Income Fund
  • Fund Family Name
    PMC Funds
  • Inception Date
    Sep 28, 2007
  • Shares Outstanding
    25700939
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Brandon Thomas

Fund Description

Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in fixed income securities that are rated investment grade or better (i.e., securities rated in the top four ratings categories by independent rating organizations such as Standard & Poor’s Ratings Group (“S&P”) and Moody’s Investors Service, Inc. (“Moody’s”) or another nationally recognized statistical rating organization (“NRSRO”), or determined to be of comparable quality by the Adviser or sub-adviser if the security is unrated). In addition, the Fund may invest up to 20% of its net assets, measured at the time of purchase, in high-yield debt securities that are rated BB+ or lower by a NRSRO, or, if unrated, securities deemed by the Adviser or a sub-adviser to be of comparable quality). Such securities are considered to be below “investment grade” and are also known as “junk bonds.” The lowest rating for any high-yield debt security in which the Fund may invest is CCC+ by a NRSRO. In the event a security is split rated by two or more NRSROs, the higher rating will be used to determine credit quality. The Fund may invest in fixed income securities with a range of maturities, from short-term obligations carrying maturities of less than one year to long-term obligations carrying maturities of more than 20 years. It is expected that the weighted average maturity of the securities in the Fund will closely approximate the weighted average maturity of the Bloomberg U.S. Aggregate Bond Index.
The Fund intends to invest in the following types of fixed income securities:
•    U.S. Government and U.S. Agency Obligations
•    U.S. Treasury obligations and other “stripped securities”
•    mortgage-backed securities
•    asset-backed securities
•    U.S. and foreign corporate debt
•    municipal securities
•    obligations of international agencies or supranational entities
•    zero-coupon, pay-in-kind or deferred-payment securities
•    when-issued securities
•    delayed-delivery securities
•    custodial receipts
•    high-yield debt securities
•    emerging markets debt
•    convertible securities
The Fund may invest up to 20% of its net assets in fixed income securities issued by foreign corporations and foreign governments, including corporations and governments in emerging markets that are denominated in a currency other than the U.S. dollar. The foreign fixed income securities in which the Fund invests may have maturities of any length, and may be investment grade, non-investment grade or unrated. In addition to direct investments in fixed income securities, at any time the Fund may seek to achieve its investment objective by allocating up to 100% of its assets among shares of different exchange-traded funds (“ETFs”) that invest in fixed income securities that are rated investment grade or better by Moody’s, S&P or another NRSRO.
The Manager of Managers Approach. The Adviser is responsible for developing, constructing and monitoring the asset allocation and portfolio strategy for the Fund and may actively manage a portion of the Fund’s portfolio. The Adviser believes that an investment’s reward and risk characteristics can be enhanced by employing multiple sub-advisory firms, with complementary styles and approaches, who manage distinct segments of a market, asset class or investment style for the Fund. In managing the Fund, the Fund’s sub-advisers generally rely on detailed proprietary research. The sub-advisers focus on the sectors and securities they believe are undervalued relative to the market. The Fund’s sub-advisers will trade the Fund’s portfolio
securities actively, and may experience a high portfolio turnover rate. In selecting individual securities for investment, the Fund’s sub-advisers typically:
use in-depth fundamental research to identify sectors and securities for investment by the Fund and to analyze risk;
exploit inefficiencies in the valuation of risk and reward;
look to capitalize on rapidly shifting market risks and dynamics caused by economic and technical factors; and
consider the liquidity of securities and the portfolio overall as an important factor in portfolio construction.
The Fund’s sub-advisers generally sell securities in order to take advantage of investments in other securities offering what the sub-adviser believes is the potential for more attractive current income or capital gain or both.
Read More

PMFQX - Performance

Return Ranking - Trailing

Period PMFQX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.3% -6.0% 3.9% 30.66%
1 Yr 3.8% -10.3% 16.1% 44.89%
3 Yr -2.2%* -10.4% 26.2% 27.64%
5 Yr N/A* -6.6% 191.4% 36.95%
10 Yr N/A* -2.4% 73.7% 63.45%

* Annualized

Return Ranking - Calendar

Period PMFQX Return Category Return Low Category Return High Rank in Category (%)
2023 2.4% -16.2% 8.1% 31.52%
2022 -15.6% -34.7% 131.9% 39.78%
2021 -4.0% -11.6% 4.4% 77.19%
2020 3.3% -10.1% 946.1% 64.41%
2019 N/A -1.7% 156.4% N/A

Total Return Ranking - Trailing

Period PMFQX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.3% -6.0% 3.9% 30.66%
1 Yr 3.8% -10.3% 16.1% 44.89%
3 Yr -2.2%* -10.4% 26.2% 27.64%
5 Yr N/A* -6.6% 191.4% 33.71%
10 Yr N/A* -2.4% 73.7% 60.14%

* Annualized

Total Return Ranking - Calendar

Period PMFQX Return Category Return Low Category Return High Rank in Category (%)
2023 6.4% -11.3% 11.0% 37.17%
2022 -13.5% -32.2% 131.9% 45.24%
2021 -1.1% -9.4% 9.2% 54.07%
2020 9.9% -1.9% 1009.0% 20.20%
2019 N/A 1.1% 21668.0% N/A

NAV & Total Return History


PMFQX - Holdings

Concentration Analysis

PMFQX Category Low Category High PMFQX % Rank
Net Assets 366 M 2.73 M 292 B 71.29%
Number of Holdings 744 1 17889 48.04%
Net Assets in Top 10 107 M -106 M 36.5 B 68.88%
Weighting of Top 10 29.13% 4.4% 134.1% 33.46%

Top 10 Holdings

  1. Mount Vernon Liquid Assets Portfolio, LLC 14.37%
  2. United States Treasury Note/Bond 3.85%
  3. iShares Core U.S. Aggregate Bond ETF 3.28%
  4. United States Treasury Note/Bond 1.89%
  5. United States Treasury Note/Bond 1.81%
  6. First American Government Obligations Fund 1.07%
  7. Apple Inc 0.75%
  8. Warnermedia Holdings Inc 0.72%
  9. Microsoft Corp 0.71%
  10. Public Storage Operating Co 0.68%

Asset Allocation

Weighting Return Low Return High PMFQX % Rank
Bonds
89.54% 0.00% 215.98% 72.66%
Cash
15.44% -54.51% 88.26% 8.22%
Other
6.04% -13.23% 58.65% 36.50%
Convertible Bonds
3.52% 0.00% 7.93% 5.91%
Stocks
3.28% 0.00% 99.93% 4.88%
Preferred Stocks
0.37% 0.00% 74.68% 12.13%

Stock Sector Breakdown

Weighting Return Low Return High PMFQX % Rank
Utilities
0.00% 0.00% 100.00% 35.05%
Technology
0.00% 0.00% 43.45% 15.43%
Real Estate
0.00% 0.00% 99.26% 22.83%
Industrials
0.00% 0.00% 48.31% 28.94%
Healthcare
0.00% 0.00% 17.70% 27.97%
Financial Services
0.00% 0.00% 100.00% 2.25%
Energy
0.00% 0.00% 100.00% 62.70%
Communication Services
0.00% 0.00% 100.00% 39.23%
Consumer Defense
0.00% 0.00% 99.67% 19.29%
Consumer Cyclical
0.00% 0.00% 100.00% 30.23%
Basic Materials
0.00% 0.00% 100.00% 28.30%

Stock Geographic Breakdown

Weighting Return Low Return High PMFQX % Rank
US
3.28% 0.00% 99.93% 4.89%
Non US
0.00% 0.00% 86.52% 30.23%

Bond Sector Breakdown

Weighting Return Low Return High PMFQX % Rank
Securitized
41.77% 0.00% 98.40% 20.49%
Corporate
40.38% 0.00% 100.00% 20.30%
Government
15.94% 0.00% 86.23% 72.22%
Cash & Equivalents
15.44% 0.00% 88.06% 9.20%
Derivative
0.00% -5.38% 58.65% 50.49%
Municipal
0.00% 0.00% 100.00% 80.00%

Bond Geographic Breakdown

Weighting Return Low Return High PMFQX % Rank
US
89.54% 0.00% 215.98% 67.32%
Non US
0.00% 0.00% 39.04% 55.87%

PMFQX - Expenses

Operational Fees

PMFQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.91% 0.01% 39.10% 32.05%
Management Fee 0.65% 0.00% 1.76% 97.63%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

PMFQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PMFQX 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.

PMFQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 227.00% 2.00% 493.39% 73.50%

PMFQX - Distributions

Dividend Yield Analysis

PMFQX Category Low Category High PMFQX % Rank
Dividend Yield 3.81% 0.00% 9.75% 46.39%

Dividend Distribution Analysis

PMFQX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Monthly Monthly

Net Income Ratio Analysis

PMFQX Category Low Category High PMFQX % Rank
Net Income Ratio 1.72% -1.28% 4.79% 48.35%

Capital Gain Distribution Analysis

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

Distributions History

View More +

PMFQX - Fund Manager Analysis

Managers

Brandon Thomas


Start Date

Tenure

Tenure Rank

May 06, 2010

12.08

12.1%

As a Co-Founder and Chief Investment Officer of Envestnet, Mr. Thomas is responsible for the development of the firm's investment policy and leads the firm’s Quantitative Research Group (QRG). Mr. Thomas co-chairs the firm’s Investment Committee. Mr. Thomas received an AB in Economics from Brown University, an MBA in Finance and Accounting from the University of Chicago, and a JD from DePaul University.

Thanos Bardas


Start Date

Tenure

Tenure Rank

Jul 01, 2019

2.92

2.9%

Thanos Bardas, PhD, Managing Director, joined the firm in 1998. Thanos is the Head of Global Rates and serves as a Senior Portfolio Manager on Global Investment Grade and Multi-Sector Fixed income strategies. He sits on the firm’s Asset Allocation Committee and Fixed Income’s Investment Strategy Committee, and is a member of the Fixed Income Multi-Sector Group. Thanos also leads the Global Rates team in determining rates exposure across various portfolio strategies and oversees both inflation and LDI investments. Thanos graduated with honors from Aristotle University, Greece, earned his MS from the University of Crete, Greece, and holdsa PhD in Theoretical Physics from State University of New York at Stony Brook. He holds FINRA Series 7 and Series 66 licenses.

David Brown


Start Date

Tenure

Tenure Rank

Jul 01, 2019

2.92

2.9%

David M. Brown, CFA, Managing Director, rejoined the firm in 2003. Dave is Global Co-Head of Investment Grade and acts as Senior Portfolio Manager on both Global Investment Grade and Multi-Sector Fixed Income strategies. He is a member of the Fixed Income Investment Strategy Committee and the Fixed Income Multi-Sector Group. Dave also leads the Investment Grade Credit team in determining credit exposures across both Global Investment Grade and Multi-Sector Fixed Income strategies. Dave initially joined the firm in 1991 after graduating from the University of Notre Dame with a BA in Government and subsequently received his MBA in Finance from Northwestern University. Prior to his return, he was a senior credit analyst at Zurich Scudder Investments and later a credit analyst and portfolio manager at Deerfield Capital. Dave has been awarded the Chartered Financial Analyst designation.

Nathan Kush


Start Date

Tenure

Tenure Rank

Jul 01, 2019

2.92

2.9%

Nathan Kush is a Managing Director of Neuberger Berman Investment Advisers LLC. He joined the firm in 2001. He is a member of the portfolio management team for the firm’s Global Investment Grade strategies. Additionally, he is involved in investment grade credit research and, previously, covered the banking, brokerage, finance, insurance and REIT sectors. Before joining the investment grade team, he spent three years in Debt Capital Markets in the Investment Banking Division of Lehman Brothers. Nathan earned a BS in Finance and Accounting from Tulane University and an MBA from the University of Chicago.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.43 6.82 1.16