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Name

As of 04/24/2024

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

SIT U S GOVERNMENT SECURITIES FUND INC

SNGVX | Fund

$10.06

$291 M

3.65%

$0.37

0.80%

Vitals

YTD Return

-0.9%

1 yr return

-0.1%

3 Yr Avg Return

-1.3%

5 Yr Avg Return

0.4%

Net Assets

$291 M

Holdings in Top 10

22.5%

52 WEEK LOW AND HIGH

$10.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.80%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 40.96%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

$5,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/24/2024

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

SIT U S GOVERNMENT SECURITIES FUND INC

SNGVX | Fund

$10.06

$291 M

3.65%

$0.37

0.80%

SNGVX - Profile

Distributions

  • YTD Total Return -0.9%
  • 3 Yr Annualized Total Return -1.3%
  • 5 Yr Annualized Total Return 0.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.90%
DIVIDENDS
  • Dividend Yield 3.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    SIT U S GOVERNMENT SECURITIES FUND INC
  • Fund Family Name
    Sit Mutual Funds
  • Inception Date
    Jun 02, 1987
  • Shares Outstanding
    N/A
  • Share Class
    S
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Bryce Doty

Fund Description

The Fund seeks to achieve its objective by investing exclusively in U.S. government securities, which are securities issued, guaranteed or insured by the U.S. government, its agencies or instrumentalities.
The Fund invests a substantial portion of its assets in pass-through securities. Pass-through securities are formed when mortgages or other debt instruments are pooled together and undivided interests in the pool are sold to investors, such as the Fund. Pass-through securities in which the Fund invests include mortgage-backed securities such as those issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). GNMA is an agency of the U.S. government and its securities are backed by the full faith and credit of the U.S. government. FNMA and FHLMC are U.S. government sponsored enterprises and their securities are backed by their credit. Other types of U.S. government securities in which the Fund may invest include U.S. Treasury securities, U.S. government agency collateralized mortgage obligations and other U.S. government agency securities.
In selecting securities for the Fund, Sit Investment Associates, Inc. (the “Adviser”) seeks securities providing high current income relative to yields currently available in the market. In making purchase and sales decisions for the Fund, the Adviser considers its economic outlook and interest rate forecast, as well as its evaluation of a security’s prepayment risk, yield, maturity, and liquidity.
The Adviser attempts to maintain an average effective duration for the portfolio of approximately 0 to 5 years. Duration is a measure of total price sensitivity relative to changes in interest rates. For example, if interest rates rise by 1%, the market value of a security with an effective duration of 3 years would decrease by 3%, with all other factors being constant. Portfolios with longer durations are typically more sensitive to changes in interest rates. The Adviser may hedge the Fund’s duration by investing in interest rate futures and options, but not in excess of 5% of the Fund’s net assets.
The Fund’s dollar-weighted average maturity will, under normal market conditions, range between 15 and 25 years. However, since the Fund’s securities are subject to various types of call provisions which make their expected average lives shorter than their stated maturity dates, the Adviser believes that the Fund’s average effective duration is a more accurate measure of the Fund’s price sensitivity to changes in interest rates than the Fund’s dollar-weighted average maturity.
Read More

SNGVX - Performance

Return Ranking - Trailing

Period SNGVX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.9% -5.3% 2.0% 74.68%
1 Yr -0.1% -2.7% 5.6% 82.28%
3 Yr -1.3%* -3.6% 2.0% 66.67%
5 Yr 0.4%* -1.3% 1.7% 59.72%
10 Yr 1.0%* -0.5% 1.7% 14.06%

* Annualized

Return Ranking - Calendar

Period SNGVX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.1% -1.6% 4.4% 73.42%
2022 -6.4% -10.4% -1.0% 42.31%
2021 -1.9% -6.4% -0.2% 35.90%
2020 2.1% -1.8% 4.9% 54.05%
2019 1.1% -1.4% 3.3% 55.56%

Total Return Ranking - Trailing

Period SNGVX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.9% -5.3% 2.0% 74.68%
1 Yr -0.1% -2.7% 5.6% 82.28%
3 Yr -1.3%* -3.6% 2.0% 66.67%
5 Yr 0.4%* -1.3% 1.7% 59.72%
10 Yr 1.0%* -0.5% 1.7% 14.06%

* Annualized

Total Return Ranking - Calendar

Period SNGVX Return Category Return Low Category Return High Rank in Category (%)
2023 3.5% 2.4% 6.2% 89.87%
2022 -4.4% -9.3% 0.2% 32.05%
2021 -0.9% -3.1% 0.1% 28.21%
2020 3.8% 0.4% 6.0% 36.49%
2019 3.4% 1.1% 5.5% 55.56%

NAV & Total Return History

SNGVX - Holdings

Concentration Analysis

SNGVX Category Low Category High SNGVX % Rank
Net Assets 291 M 11.1 M 24.8 B 57.32%
Number of Holdings 324 7 1052 30.49%
Net Assets in Top 10 60.9 M 1.81 M 9.39 B 64.63%
Weighting of Top 10 22.53% 14.9% 100.0% 92.68%

Top 10 Holdings

  1. Ginnie Mae II Pool 3.27%
  2. Government National Mortgage Association 2.86%
  3. Government National Mortgage Association 2.53%
  4. Government National Mortgage Association 2.51%
  5. Freddie Mac Pool 2.10%
  6. Government National Mortgage Association 2.01%
  7. Freddie Mac REMICS 1.90%
  8. Freddie Mac REMICS 1.83%
  9. Fannie Mae Pool 1.77%
  10. Fannie Mae Pool 1.75%

Asset Allocation

Weighting Return Low Return High SNGVX % Rank
Bonds 		99.34% 64.98% 123.97% 41.46%
Cash 		0.63% 0.00% 13.77% 65.85%
Other 		0.13% -23.15% 33.59% 43.90%
Stocks 		0.00% 0.00% 4.55% 42.68%
Preferred Stocks 		0.00% 0.00% 0.04% 40.24%
Convertible Bonds 		0.00% 0.00% 0.00% 37.04%

Bond Sector Breakdown

Weighting Return Low Return High SNGVX % Rank
Securitized 		85.35% 0.00% 100.00% 11.11%
Government 		6.41% 0.00% 99.96% 90.12%
Cash & Equivalents 		0.63% 0.00% 13.77% 58.54%
Derivative 		0.13% -1.60% 15.08% 21.95%
Corporate 		0.00% 0.00% 34.19% 56.79%
Municipal 		0.00% 0.00% 6.22% 46.91%

Bond Geographic Breakdown

Weighting Return Low Return High SNGVX % Rank
US 		99.34% 64.98% 123.97% 41.46%
Non US 		0.00% 0.00% 0.00% 36.59%

SNGVX - Expenses

Operational Fees

SNGVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.80% 0.03% 2.91% 43.90%
Management Fee 0.80% 0.03% 0.80% 100.00%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.10% 0.45% N/A

Sales Fees

SNGVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 4.75% N/A
Deferred Load N/A 0.50% 1.00% N/A

Trading Fees

SNGVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 0.25% 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.

SNGVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 40.96% 0.00% 466.00% 15.63%

SNGVX - Distributions

Dividend Yield Analysis

SNGVX Category Low Category High SNGVX % Rank
Dividend Yield 3.65% 0.00% 5.30% 51.22%

Dividend Distribution Analysis

SNGVX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

SNGVX Category Low Category High SNGVX % Rank
Net Income Ratio 0.90% -0.78% 3.29% 17.72%

Capital Gain Distribution Analysis

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

Distributions History

View More +

SNGVX - Fund Manager Analysis

Managers

Bryce Doty

Start Date

Tenure

Tenure Rank

Dec 31, 1995

26.43

26.4%

Bryce A. Doty, Vice President – Investments, served as Senior Vice President and Senior Portfolio Manager of Sit Investment Fixed Income Advisors, Inc. Prior to joining Sit Investment Associates in 1995, Bryce gained extensive experience during his seven years with Minnesota Mutual in management consulting. Bryce earned his M.B.A. degree, with a concentration in finance, from the Carlson School of Management at the University of Minnesota in 1992. He earned a B.A. degree in business management, with minors in physics and psychology, from Hamline University in 1988. Bryce is a CFA charter holder.

Mark Book

Start Date

Tenure

Tenure Rank

Oct 23, 2002

19.62

19.6%

Mark joined Sit Investment Associates in August 2000 as a Portfolio Manager and Fixed Income Analyst. He is responsible for taxable bond portfolio management and credit research. Prior to joining SIA, Mark spent three years with U.S. Bancorp Piper Jaffray where he was Vice President and Senior Corporate Bond Strategist. Prior to U.S. Bancorp Piper Jaffray, he worked as a fixed income portfolio manager at Norwest Investment Management for one year and Insight Investment Management for six years. He also traded fixed income securities at Reliastar Financial Corporation (now ING) for five years. Mark received a B.A. in Accounting from the University of Minnesota in 1986. In 1992 he completed his M.B.A. with a concentration in finance at the University of Minnesota Carlson School of Management.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.49 32.44 10.28 7.33

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