Spirit of America Income Fund
Name
As of 04/23/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.2%
1 yr return
3.0%
3 Yr Avg Return
-1.5%
5 Yr Avg Return
1.6%
Net Assets
$71.8 M
Holdings in Top 10
25.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.18%
SALES FEES
Front Load 4.75%
Deferred Load N/A
TRADING FEES
Turnover 4.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500
IRA
$500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/23/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SOAIX - Profile
Distributions
- YTD Total Return 0.2%
- 3 Yr Annualized Total Return -1.5%
- 5 Yr Annualized Total Return 1.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.98%
- Dividend Yield 5.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameSpirit of America Income Fund
-
Fund Family NameSpirit of America
-
Inception DateDec 31, 2008
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMark Reilly
Fund Description
Principal Investment Strategies: The Income Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its assets in a portfolio of taxable municipal bonds, income producing convertible securities, preferred stocks, high yield U.S. corporate bonds (i.e., “junk bonds”), and collateralized mortgage obligations (“CMOs”). A CMO is a mortgage-backed bond that separates mortgage pools into different maturity classes. Payments of principal and interest are passed through to each bond issue at varying schedules resulting in bonds with different coupons, effective maturities and sensitivities to interest rates. CMOs issued by U.S. government agencies are backed by agency mortgages, while privately issued CMOs may be backed by either government agency mortgages or private mortgages. The Income Fund may also invest in U.S. government agency securities issued or guaranteed by U.S. government-sponsored enterprises and federal agencies, including securities issued by the Federal National Mortgage Association (“FNMA”), the Federal Home Loan Mortgage Corporation (“FHLMC”), and the Government National Mortgage Association (“GNMA”). Some of these securities are supported by the full faith and credit of the U.S. Treasury; the remainder are supported only by the credit of the instrumentality, which may or may not include the right of the issuer to borrow from the U.S. Treasury. These also include securities issued by eligible private depository institutions and guaranteed by the Federal Deposit Insurance Corporation (“FDIC”). High yield bonds are rated below investment grade (BB and lower). The Portfolio Manager seeks out high yield bonds with the potential to offer high current income, generally focusing on high yield bonds that can provide consistently attractive current yields. High yield bonds offer high income in an effort to compensate investors for the higher risk of default (failure to make required interest or principal payments). The Income Fund may also invest in higher rated (above BB) bonds. Although the Income Fund expects to maintain a long-weighted average maturity, there are no maturity restrictions on the Income Fund or on individual securities. Typically, the investments in the Income Fund will be subject to federal income taxation.
The Income Fund may also invest in master limited partnerships (“MLPs”), equity securities of dividend paying companies and private placements.
SOAIX - Performance
Return Ranking - Trailing
Period | SOAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.2% | -7.1% | 0.2% | 3.13% |
1 Yr | 3.0% | -7.3% | 3.1% | 6.25% |
3 Yr | -1.5%* | -12.5% | 34.1% | 18.75% |
5 Yr | 1.6%* | -7.1% | 24.4% | 16.13% |
10 Yr | 2.9%* | -0.3% | 13.4% | 15.38% |
* Annualized
Return Ranking - Calendar
Period | SOAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.6% | 0.4% | 6.0% | 96.88% |
2022 | -19.0% | -31.0% | 111.9% | 15.63% |
2021 | -0.4% | -8.2% | -0.4% | 6.25% |
2020 | 1.9% | 1.9% | 12.2% | 96.77% |
2019 | 6.9% | 1.2% | 19.0% | 76.67% |
Total Return Ranking - Trailing
Period | SOAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.2% | -7.1% | 0.2% | 3.13% |
1 Yr | 3.0% | -7.3% | 3.1% | 6.25% |
3 Yr | -1.5%* | -12.5% | 34.1% | 18.75% |
5 Yr | 1.6%* | -7.1% | 24.4% | 16.13% |
10 Yr | 2.9%* | -0.3% | 13.4% | 15.38% |
* Annualized
Total Return Ranking - Calendar
Period | SOAIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.9% | 0.4% | 11.2% | 84.38% |
2022 | -12.7% | -31.0% | 121.2% | 18.75% |
2021 | 3.1% | -2.9% | 3.1% | 3.13% |
2020 | 6.3% | 4.2% | 18.6% | 90.32% |
2019 | 11.7% | 4.6% | 24.6% | 86.67% |
NAV & Total Return History
SOAIX - Holdings
Concentration Analysis
SOAIX | Category Low | Category High | SOAIX % Rank | |
---|---|---|---|---|
Net Assets | 71.8 M | 10.2 M | 15.5 B | 93.75% |
Number of Holdings | 167 | 38 | 3560 | 90.63% |
Net Assets in Top 10 | 18.5 M | 3.78 M | 1.85 B | 93.75% |
Weighting of Top 10 | 25.75% | 3.1% | 62.2% | 34.38% |
Top 10 Holdings
- Tobacco Settlement Financing Corp. 6.49%
- City of Kansas City, MO 3.68%
- Health Care Authority for Baptist Health/The 2.65%
- MetLife, Inc. 2.35%
- Municipal Electric Authority of Georgia 2.19%
- MetLife, Inc. 1.87%
- Village of Glenwood, IL 1.68%
- County of Miami-Dade, FL 1.67%
- Virgin Islands Water Power Authority - Electric System 1.60%
- County of Cuyahoga, OH 1.58%
Asset Allocation
Weighting | Return Low | Return High | SOAIX % Rank | |
---|---|---|---|---|
Bonds | 70.45% | 70.45% | 153.92% | 96.88% |
Preferred Stocks | 20.08% | 0.00% | 20.08% | 6.25% |
Stocks | 8.98% | 0.00% | 8.98% | 6.25% |
Cash | 0.42% | -2.42% | 13.97% | 93.75% |
Other | 0.07% | -46.24% | 5.65% | 25.00% |
Convertible Bonds | 0.00% | 0.00% | 2.97% | 93.75% |
Stock Sector Breakdown
Weighting | Return Low | Return High | SOAIX % Rank | |
---|---|---|---|---|
Energy | 56.66% | 0.00% | 56.66% | 40.00% |
Healthcare | 11.04% | 0.00% | 11.04% | 40.00% |
Real Estate | 9.55% | 0.00% | 9.55% | 40.00% |
Consumer Defense | 6.77% | 0.00% | 6.77% | 40.00% |
Financial Services | 6.20% | 6.20% | 100.00% | 80.00% |
Communication Services | 5.70% | 0.00% | 5.70% | 40.00% |
Utilities | 4.07% | 0.00% | 4.07% | 40.00% |
Technology | 0.00% | 0.00% | 0.00% | 60.00% |
Industrials | 0.00% | 0.00% | 0.00% | 60.00% |
Consumer Cyclical | 0.00% | 0.00% | 0.00% | 60.00% |
Basic Materials | 0.00% | 0.00% | 0.00% | 60.00% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | SOAIX % Rank | |
---|---|---|---|---|
US | 8.98% | 0.00% | 8.98% | 6.25% |
Non US | 0.00% | 0.00% | 0.08% | 62.50% |
Bond Sector Breakdown
Weighting | Return Low | Return High | SOAIX % Rank | |
---|---|---|---|---|
Municipal | 68.27% | 0.00% | 99.04% | 9.38% |
Corporate | 31.52% | 0.41% | 98.94% | 78.13% |
Securitized | 0.09% | 0.00% | 4.69% | 71.88% |
Derivative | 0.00% | -0.82% | 5.65% | 65.63% |
Cash & Equivalents | 0.00% | 0.00% | 9.40% | 96.88% |
Government | 0.00% | 0.00% | 46.64% | 90.63% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | SOAIX % Rank | |
---|---|---|---|---|
US | 70.45% | 70.45% | 152.04% | 96.88% |
Non US | 0.00% | 0.00% | 4.26% | 75.00% |
SOAIX - Expenses
Operational Fees
SOAIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.18% | 0.04% | 2.88% | 31.25% |
Management Fee | 0.60% | 0.03% | 0.65% | 84.38% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 37.50% |
Administrative Fee | N/A | 0.05% | 0.40% | N/A |
Sales Fees
SOAIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 4.75% | 3.75% | 4.75% | 33.33% |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
SOAIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 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.
SOAIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 4.00% | 1.00% | 85.00% | 13.33% |
SOAIX - Distributions
Dividend Yield Analysis
SOAIX | Category Low | Category High | SOAIX % Rank | |
---|---|---|---|---|
Dividend Yield | 5.24% | 0.00% | 6.49% | 6.25% |
Dividend Distribution Analysis
SOAIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
SOAIX | Category Low | Category High | SOAIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 3.98% | 2.10% | 5.46% | 12.50% |
Capital Gain Distribution Analysis
SOAIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.044 | OrdinaryDividend |
Feb 29, 2024 | $0.035 | OrdinaryDividend |
Jan 31, 2024 | $0.038 | OrdinaryDividend |
Dec 28, 2023 | $0.180 | OrdinaryDividend |
Nov 30, 2023 | $0.038 | OrdinaryDividend |
Oct 31, 2023 | $0.040 | OrdinaryDividend |
Sep 29, 2023 | $0.044 | OrdinaryDividend |
Aug 31, 2023 | $0.040 | OrdinaryDividend |
Jul 31, 2023 | $0.037 | OrdinaryDividend |
Jun 30, 2023 | $0.056 | OrdinaryDividend |
May 31, 2023 | $0.037 | OrdinaryDividend |
Apr 28, 2023 | $0.036 | OrdinaryDividend |
Mar 31, 2023 | $0.048 | OrdinaryDividend |
Feb 28, 2023 | $0.034 | OrdinaryDividend |
Jan 31, 2023 | $0.028 | OrdinaryDividend |
Dec 29, 2022 | $0.358 | OrdinaryDividend |
Dec 01, 2022 | $0.048 | OrdinaryDividend |
Nov 30, 2022 | $0.048 | OrdinaryDividend |
Oct 31, 2022 | $0.045 | OrdinaryDividend |
Sep 30, 2022 | $0.050 | OrdinaryDividend |
Sep 01, 2022 | $0.045 | OrdinaryDividend |
Aug 01, 2022 | $0.040 | OrdinaryDividend |
Jul 01, 2022 | $0.043 | OrdinaryDividend |
Jun 01, 2022 | $0.037 | OrdinaryDividend |
May 02, 2022 | $0.037 | OrdinaryDividend |
Apr 01, 2022 | $0.042 | OrdinaryDividend |
Mar 01, 2022 | $0.035 | OrdinaryDividend |
Feb 01, 2022 | $0.028 | OrdinaryDividend |
Dec 01, 2021 | $0.045 | OrdinaryDividend |
Nov 01, 2021 | $0.045 | OrdinaryDividend |
Sep 30, 2021 | $0.048 | OrdinaryDividend |
Sep 01, 2021 | $0.043 | OrdinaryDividend |
Jul 30, 2021 | $0.035 | OrdinaryDividend |
Jun 30, 2021 | $0.043 | OrdinaryDividend |
Jun 01, 2021 | $0.035 | OrdinaryDividend |
May 03, 2021 | $0.034 | OrdinaryDividend |
Apr 01, 2021 | $0.045 | OrdinaryDividend |
Mar 01, 2021 | $0.034 | OrdinaryDividend |
Feb 01, 2021 | $0.023 | OrdinaryDividend |
Oct 30, 2020 | $0.031 | OrdinaryDividend |
Sep 30, 2020 | $0.042 | OrdinaryDividend |
Aug 31, 2020 | $0.035 | OrdinaryDividend |
Jul 31, 2020 | $0.035 | OrdinaryDividend |
Jun 30, 2020 | $0.043 | OrdinaryDividend |
May 29, 2020 | $0.040 | OrdinaryDividend |
May 06, 2020 | $0.033 | OrdinaryDividend |
Apr 30, 2020 | $0.018 | OrdinaryDividend |
Mar 31, 2020 | $0.040 | OrdinaryDividend |
Feb 28, 2020 | $0.043 | OrdinaryDividend |
Feb 03, 2020 | $0.038 | OrdinaryDividend |
Dec 31, 2019 | $0.043 | OrdinaryDividend |
Nov 29, 2019 | $0.044 | OrdinaryDividend |
Oct 31, 2019 | $0.044 | OrdinaryDividend |
Sep 30, 2019 | $0.042 | OrdinaryDividend |
Aug 30, 2019 | $0.047 | OrdinaryDividend |
Jul 31, 2019 | $0.043 | OrdinaryDividend |
May 31, 2019 | $0.047 | DailyAccrualFund |
Apr 30, 2019 | $0.041 | DailyAccrualFund |
Mar 29, 2019 | $0.045 | OrdinaryDividend |
Feb 28, 2019 | $0.042 | OrdinaryDividend |
Jan 31, 2019 | $0.042 | OrdinaryDividend |
Dec 31, 2018 | $0.047 | OrdinaryDividend |
Nov 30, 2018 | $0.048 | OrdinaryDividend |
Oct 31, 2018 | $0.044 | OrdinaryDividend |
Aug 31, 2018 | $0.047 | OrdinaryDividend |
Jul 31, 2018 | $0.043 | OrdinaryDividend |
Jun 29, 2018 | $0.045 | OrdinaryDividend |
May 31, 2018 | $0.047 | OrdinaryDividend |
Apr 30, 2018 | $0.043 | OrdinaryDividend |
Mar 29, 2018 | $0.044 | OrdinaryDividend |
Feb 28, 2018 | $0.044 | OrdinaryDividend |
Jan 31, 2018 | $0.043 | OrdinaryDividend |
Dec 29, 2017 | $0.056 | OrdinaryDividend |
Nov 30, 2017 | $0.049 | OrdinaryDividend |
Oct 31, 2017 | $0.044 | OrdinaryDividend |
Sep 29, 2017 | $0.044 | OrdinaryDividend |
Aug 31, 2017 | $0.045 | OrdinaryDividend |
Jul 31, 2017 | $0.045 | OrdinaryDividend |
Jun 30, 2017 | $0.043 | OrdinaryDividend |
May 31, 2017 | $0.045 | OrdinaryDividend |
Apr 28, 2017 | $0.044 | OrdinaryDividend |
Mar 31, 2017 | $0.043 | OrdinaryDividend |
Feb 28, 2017 | $0.035 | OrdinaryDividend |
Jan 31, 2017 | $0.035 | OrdinaryDividend |
Dec 30, 2016 | $0.064 | OrdinaryDividend |
Nov 30, 2016 | $0.044 | OrdinaryDividend |
Oct 31, 2016 | $0.043 | OrdinaryDividend |
Sep 30, 2016 | $0.044 | OrdinaryDividend |
Aug 31, 2016 | $0.049 | OrdinaryDividend |
Jul 29, 2016 | $0.030 | OrdinaryDividend |
Jun 30, 2016 | $0.039 | OrdinaryDividend |
May 31, 2016 | $0.044 | OrdinaryDividend |
Apr 29, 2016 | $0.045 | OrdinaryDividend |
Mar 31, 2016 | $0.043 | OrdinaryDividend |
Feb 29, 2016 | $0.037 | OrdinaryDividend |
Jan 29, 2016 | $0.036 | OrdinaryDividend |
Dec 31, 2015 | $0.062 | OrdinaryDividend |
Nov 30, 2015 | $0.048 | OrdinaryDividend |
Oct 30, 2015 | $0.047 | OrdinaryDividend |
Sep 30, 2015 | $0.046 | OrdinaryDividend |
Aug 31, 2015 | $0.047 | OrdinaryDividend |
Jul 31, 2015 | $0.048 | OrdinaryDividend |
Jun 30, 2015 | $0.046 | OrdinaryDividend |
May 29, 2015 | $0.047 | OrdinaryDividend |
Apr 30, 2015 | $0.046 | OrdinaryDividend |
Mar 31, 2015 | $0.045 | OrdinaryDividend |
Feb 27, 2015 | $0.036 | OrdinaryDividend |
Jan 30, 2015 | $0.037 | OrdinaryDividend |
Nov 28, 2014 | $0.051 | OrdinaryDividend |
Dec 31, 2012 | $0.013 | ExtraDividend |
SOAIX - Fund Manager Analysis
Managers
Mark Reilly
Start Date
Tenure
Tenure Rank
Nov 18, 2015
6.54
6.5%
Mark Reilly serves as the Portfolio Manager. Mr. Reilly was previously designated as a Co-Portfolio Manager. Mr. Reilly joined Spirit of America Management Corp on November 18, 2015. Prior to joining Spirit of America Management Corp, Mr. Reilly was the head fixed income trader at DLA, the principal underwriter and distributor, from November 2012 until November 17, 2015. He has over 20 years’ experience trading tax-free municipal bonds, taxable municipal bonds, and mortgage backed securities. Mr. Reilly has a Bachelor’s degree in finance from Adelphi University School of Banking and Money Management and began his career in finance in 1993 with DLA. He is a member of Municipal Bond Club of New York and holds several industry registrations, including General Securities Representative (Series 7) license, Uniform Securities Agent State Law Examination (Series 63) license, and registered principal (Series 23) license.
Douglas Revello
Start Date
Tenure
Tenure Rank
May 01, 2018
4.08
4.1%
Douglas Revello serves as the Portfolio Manager. Mr. Revello became the Co-Portfolio Manager in November 18, 2015 and transitioned to Portfolio Manager on July 1, 2016. Mr. Revello has been associated with Spirit of America Management Corp. since May 18, 2009 as the Co-Portfolio Manager through November 17, 2015, and was designated Portfolio Manager on November 18, 2015. Mr. Revello started working at DLA in 1988 as an assistant municipal bond trader and was soon promoted to municipal bond underwriter. As municipal bond underwriter, he led DLA to obtain syndicate membership and manager status for numerous municipal issuers by successfully spearheading the development of DLA’s Syndicate Department and increasing DLA’s municipal underwriting presence. His responsibilities also include institutional and dealer sales. In 2007, Mr. Revello was promoted to Senior Vice President at DLA. He received a Master of Business Administration from Dowling College. Previous employments include J.P. Morgan and Drexel, Burnham & Lambert. Mr. Revello holds a General Securities Representative (Series 7) license, and Uniform Securities Agent State Law Examination (Series 63) license.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
1.67 | 17.42 | 8.03 | 6.25 |