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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

$40.48

$168 M

1.62%

$0.66

1.25%

Vitals

YTD Return

-8.9%

1 yr return

11.4%

3 Yr Avg Return

-2.7%

5 Yr Avg Return

6.5%

Net Assets

$168 M

Holdings in Top 10

47.1%

52 WEEK LOW AND HIGH

$40.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.25%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 70.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

$100,000


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

$40.48

$168 M

1.62%

$0.66

1.25%

RMBLX - Profile

Distributions

  • YTD Total Return -8.9%
  • 3 Yr Annualized Total Return -2.7%
  • 5 Yr Annualized Total Return 6.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.75%
DIVIDENDS
  • Dividend Yield 1.6%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    RMB Mendon Financial Services Fund
  • Fund Family Name
    RMB Funds
  • Inception Date
    Feb 01, 2017
  • Shares Outstanding
    2747325
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Anton Schutz

Fund Description

The Fund pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in stocks of U.S. companies that are in the financial services industry. The Fund includes the market value of derivatives that provide exposure to the financial services industry in determining compliance with the Fund’s 80% investment policy. The Fund may invest in companies of any size, but, under normal conditions, the Fund invests primarily in mid-, small- and micro-capitalization financial services companies. For this purpose, the Fund defines a mid-, small-, and micro-capitalization company as any company with a market capitalization within the range of the market capitalizations of the constituents of the NASDAQ Bank Index, which as of March 31, 2023 ranged from $17 million to $18.1 billion. For purposes of selecting investments, the Fund defines the financial services industry broadly. It includes (but is not limited to) the following:
Banks
Insurance companies
Consumer and commercial finance companies
Securities brokerage firms and electronic trading networks
Investment management and advisory firms
Financial conglomerates
Financial technology companies
Ordinarily, the Fund’s portfolio will be invested primarily in common stocks. In selecting stocks, the Fund’s sub-adviser uses a combination of growth and value style investment criteria. Growth criteria include such items as capable management, attractive business niches, sound financial and accounting practices and/or demonstrated ability to sustain growth in revenues, earnings and cash flow. Value criteria include companies that appear to be undervalued based on their balance sheets or individual circumstances, temporarily distressed, or poised for a merger or acquisition.
The Fund may also invest in companies that may experience unusual and possibly unique developments, or “special situations,” which may create a special opportunity for significant returns. Special situations include: significant technological improvements or discoveries; reorganizations, recapitalizations or mergers; favorable resolutions of litigation; new management or material changes in company policies; and actual or potential changes in control of a company. These companies are deemed “special situations.” Special situations include companies going through reorganizations, recapitalizations, mergers, spin-offs or facing resolutions of litigation, management team changes or important technological improves or discoveries.
The portfolio manager constructs the Fund’s portfolio using both a top-down and bottom-up analysis. Examples of top-down analysis include the study of interest rates, credit trends and other macroeconomic factors that broadly affect the financial services industry. Examples of bottom-up analysis include industry screens, sell-side company research reports, company models and other fundamental research that are used to construct the Fund’s portfolio on a stock-by-stock basis. The sub-adviser attempts to identify how various financial services sub-sectors and the individual companies therein will move in reaction to market events. Each potential investment is evaluated by weighing its potential for gain against its associated risks. Because of the way the sub-adviser constructs the Fund’s portfolio, there may be times when the Fund’s investments are focused in one or more financial services sub-sectors and/or a limited number of regions of the U.S.
The Fund may sell securities for a variety of reasons, such as to secure gains, limit losses or redeploy assets into other opportunities.
The Fund may also use futures and options on securities, indices and other derivatives (a type of instrument whose value is determined by reference to the value or the change in value of one or more securities, indices or other financial instruments) to hedge against market changes or as a substitute for securities transactions. It may also use derivatives in attempts to profit from anticipated market and security movements. The Fund will limit its derivatives
exposure to 10% of its net assets. The Fund expects that its primary investments in derivatives will be in written covered call options and long call options. As the writer of a covered call option, the Fund forgoes, during the option’s life, the opportunity to profit from increases in the market value of the security covering the call option above the sum of the premium and the strike price of the call, but has retained the risk of loss should the price of the underlying security decline. Long call option purchases allow the option holder to be exposed to the general market characteristics of a security without the outlay of capital necessary to own the security.
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RMBLX - Performance

Return Ranking - Trailing

Period RMBLX Return Category Return Low Category Return High Rank in Category (%)
YTD -8.9% -11.0% 17.3% 94.51%
1 Yr 11.4% 7.7% 43.3% 85.71%
3 Yr -2.7%* -20.7% 17.7% 72.53%
5 Yr 6.5%* -5.8% 19.5% 68.13%
10 Yr N/A* -1.1% 13.6% 4.49%

* Annualized

Return Ranking - Calendar

Period RMBLX Return Category Return Low Category Return High Rank in Category (%)
2023 3.2% -12.2% 29.3% 68.13%
2022 -30.4% -56.2% 9.4% 87.91%
2021 54.4% 1.6% 54.4% 1.09%
2020 -5.5% -41.2% 61.3% 57.61%
2019 22.1% 10.5% 97.3% 56.52%

Total Return Ranking - Trailing

Period RMBLX Return Category Return Low Category Return High Rank in Category (%)
YTD -8.9% -11.0% 17.3% 94.51%
1 Yr 11.4% 7.7% 43.3% 85.71%
3 Yr -2.7%* -20.7% 17.7% 72.53%
5 Yr 6.5%* -5.8% 19.5% 68.13%
10 Yr N/A* -1.1% 13.6% 4.35%

* Annualized

Total Return Ranking - Calendar

Period RMBLX Return Category Return Low Category Return High Rank in Category (%)
2023 4.8% -8.5% 32.0% 76.92%
2022 -18.8% -56.2% 11.4% 79.12%
2021 56.8% 18.8% 56.8% 1.09%
2020 -5.5% -41.2% 61.3% 63.04%
2019 23.1% 12.8% 101.7% 77.17%

NAV & Total Return History


RMBLX - Holdings

Concentration Analysis

RMBLX Category Low Category High RMBLX % Rank
Net Assets 168 M 1.03 M 30.3 B 52.69%
Number of Holdings 64 26 412 50.00%
Net Assets in Top 10 93.4 M 456 K 18.4 B 53.26%
Weighting of Top 10 47.09% 18.0% 84.7% 35.87%

Top 10 Holdings

  1. Equity Bancshares Inc 6.84%
  2. Primis Financial Corp 5.81%
  3. First Bancshares Inc/The 5.55%
  4. Business First Bancshares Inc 4.97%
  5. USCB Financial Holdings Inc 4.30%
  6. Byline Bancorp Inc 4.16%
  7. Veritex Holdings Inc 4.11%
  8. New York Community Bancorp Inc 3.87%
  9. Origin Bancorp Inc 3.86%
  10. Bank of NT Butterfield Son Ltd/The 3.63%

Asset Allocation

Weighting Return Low Return High RMBLX % Rank
Stocks
98.25% 87.39% 107.75% 63.04%
Cash
3.40% -8.24% 32.40% 27.17%
Preferred Stocks
0.00% 0.00% 3.05% 40.22%
Convertible Bonds
0.00% 0.00% 0.10% 28.26%
Bonds
0.00% 0.00% 2.83% 35.87%
Other
-1.65% -1.65% 2.20% 98.91%

Stock Sector Breakdown

Weighting Return Low Return High RMBLX % Rank
Financial Services
99.20% 46.33% 100.00% 33.70%
Technology
0.80% 0.00% 43.13% 32.61%
Utilities
0.00% 0.00% 5.37% 28.26%
Real Estate
0.00% 0.00% 40.95% 63.04%
Industrials
0.00% 0.00% 5.08% 48.91%
Healthcare
0.00% 0.00% 5.97% 32.61%
Energy
0.00% 0.00% 6.18% 28.26%
Communication Services
0.00% 0.00% 4.06% 32.61%
Consumer Defense
0.00% 0.00% 4.66% 29.35%
Consumer Cyclical
0.00% 0.00% 42.54% 43.48%
Basic Materials
0.00% 0.00% 4.54% 28.26%

Stock Geographic Breakdown

Weighting Return Low Return High RMBLX % Rank
US
98.25% 0.00% 106.12% 47.83%
Non US
0.00% 0.00% 99.15% 52.17%

RMBLX - Expenses

Operational Fees

RMBLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.25% 0.08% 11.17% 51.09%
Management Fee 0.75% 0.03% 1.25% 48.39%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.10% 0.34% N/A

Sales Fees

RMBLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

RMBLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 13.04%

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.

RMBLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 70.00% 3.00% 406.00% 83.95%

RMBLX - Distributions

Dividend Yield Analysis

RMBLX Category Low Category High RMBLX % Rank
Dividend Yield 1.62% 0.00% 12.08% 69.89%

Dividend Distribution Analysis

RMBLX Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Quarterly Annual

Net Income Ratio Analysis

RMBLX Category Low Category High RMBLX % Rank
Net Income Ratio 0.75% -0.76% 10.57% 67.39%

Capital Gain Distribution Analysis

RMBLX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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RMBLX - Fund Manager Analysis

Managers

Anton Schutz


Start Date

Tenure

Tenure Rank

Jun 07, 1999

23.0

23.0%

Mr. Schutz, the founder of Mendon Capital Advisors Corp., is responsible for the definition and implementation of portfolio strategy for the Master Fund. Mr. Schutz has been in the investment and risk management business since 1986, focusing on investment and portfolio management. Before forming Mendon Capital Advisors Corp., he was at Chase Manhattan Bank for ten years. In the Chase Asset Management Special Investments Division, he was responsible for structuring investment products utilizing hedge funds and served as a member of the investment committee. At the Chase Regional Bank, he headed the development and application of financial risk management strategies for firms in a variety of industries, focusing heavily on identifying and managing interest rate, currency, equity and commodity exposures for the bank’s customers. He was responsible for the design and implementation of several ground-breaking strategies in his field. Mr. Schutz also worked at RBC Dain Rauscher and Moors & Cabot, Inc. as an institutional equity salesperson. In addition, he has managed assets of his own and for his family since the late 1970’s. Mr. Schutz earned a B.A. from Franklin & Marshall College and an M.B.A. in Finance from Fordham University. Mr. Schutz became an employee of the Adviser upon the completion of the Control Transaction. Mr. Schutz has been often quoted in The Wall Street Journal and other financial publications and has appeared frequently as a guest on CNBC. Mr. Schutz retains a controlling interest in Mendon Capital Advisors Corp. and continues to advise a number of private funds and other accounts in his position as President and Chief Investment Officer of Mendon Capital Advisors Corp.

Daniel Goldfarb


Start Date

Tenure

Tenure Rank

May 01, 2022

0.08

0.1%

Dan Goldfarb joined AlphaOne Capital in 2009 when the investment team transitioned over from OFI Institutional Asset Management. He is a senior portfolio manager managing the Fundamental Small and Micro Cap strategies. He also serves as an equity analyst for these strategies. Mr. Goldfarb served as a managing director/portfolio manager with the OFI Institutional/Babson Capital organization from 1995 to 2009. Previously, Mr. Goldfarb held positions at Drexel Burnham Lambert, Smith Barney, and Wilmington Trust. Mr. Goldfarb has covered financial institutions during his entire career as well as several other industries including telecom, electric utilities, and REITS. He holds a B.A. from Hobart College and an M.B.A from Vanderbilt University. Mr. Goldfarb is a CFA chartholder and Treasurer of the Bank Analyst Association of Boston.

John Heffern


Start Date

Tenure

Tenure Rank

May 01, 2022

0.08

0.1%

John A. Heffern, Managing Partner and Senior Portfolio Manager at Chartwell Investment Partners, Inc. He has worked in investment management since 1988, has been with Chartwell since 2005, and has co-managed a portion of the Fund since 2006. Heffern was a Senior Vice President and Senior Portfolio Manager with the Growth Investing Group at Delaware Investment Advisers from 1997 to 2005. From 1994 to 1997, he was a Senior Vice President, Equity Research at NatWest Markets, responsible for specialty financial services equity research. Prior to NatWest, he was a Principal and Senior Regional Bank Analyst at Alex Brown & Sons.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 25.42 9.67 4.58