The Tocqueville Fund
Fund
TOCQX
Price as of:
$44.46
- $0.22
- 0.49%
Primary Theme
fund company
Name
As of 04/17/2024Price
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
Vitals
YTD Return
6.1%
1 yr return
19.4%
3 Yr Avg Return
6.3%
5 Yr Avg Return
10.9%
Net Assets
$461 M
Holdings in Top 10
28.6%
52 WEEK LOW AND HIGH
$44.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.36%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 11.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$250
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/17/2024Price
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
TOCQX - Profile
Distributions
- YTD Total Return 6.1%
- 3 Yr Annualized Total Return 6.3%
- 5 Yr Annualized Total Return 10.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.55%
- Dividend Yield 0.5%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameThe Tocqueville Fund
-
Fund Family NameTocqueville Trust
-
Inception DateJan 03, 1994
-
Shares Outstanding6731815
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Kleinschmidt
Fund Description
The Fund seeks to achieve its investment objective by investing primarily in common stocks of U.S. companies. The Fund may also invest up to 25% of its net assets in non-U.S. companies, including in American Depositary Receipts (“ADRs”), in both developed and emerging markets.
The investment strategy of the Fund is value oriented and contrarian. The Fund seeks to invest in companies that have good long-term business fundamentals but are temporarily out of favor with investors, and hence have a market value lower than their intrinsic value. The fundamental research based value orientation of the Advisor helps the portfolio manager find companies which have good businesses; the Advisor’s contrarian orientation enables the portfolio manager to buy them at what the portfolio manager believes to be attractive prices.
Value oriented means that the portfolio manager seeks to invest in companies that are selling at a discount to their intrinsic value, and where business fundamentals are improving or expected to improve. In assessing intrinsic value, the portfolio manager’s judgment will be based on a comparison of a company’s stock market value with various financial parameters, including historical and projected cash flow, book earnings, and net asset value.
Contrarian means that the portfolio manager seeks investment opportunities in stocks and sectors that are out of favor with investors. The portfolio manager
considers a stock to be out of favor when its price has declined significantly or has lagged the relevant market index for an extended period of time and the consensus among investors does not expect improvement.
In general, the portfolio manager acquires his investment ideas by identifying companies whose stock prices are down, or have lagged the market. The portfolio manager then analyzes the quality of their business franchise and long-term fundamentals and makes a judgment regarding their intrinsic value.
Alternatively, the portfolio manager may identify companies with strong long-term business fundamentals and then wait for them to fall out of favor with investors in order to buy them at a discount to intrinsic value.
The portfolio manager will purchase stocks for the Fund’s portfolio when they meet the above criteria and when the portfolio manager believes that they have a limited risk of further decline. The portfolio manager will sell stocks when they are no longer considered to be good values.
TOCQX - Performance
Return Ranking - Trailing
| Period | TOCQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.1% | -47.2% | 13.6% | 35.67% |
| 1 Yr | 19.4% | -38.4% | 43.3% | 65.65% |
| 3 Yr | 6.3%* | -15.0% | 26.8% | 58.34% |
| 5 Yr | 10.9%* | -2.7% | 106.3% | 73.20% |
| 10 Yr | 9.8%* | 2.2% | 20.5% | 77.42% |
* Annualized
Return Ranking - Calendar
| Period | TOCQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.0% | -42.6% | 47.4% | 84.19% |
| 2022 | -17.8% | -56.3% | -4.2% | 16.99% |
| 2021 | 13.3% | -27.2% | 53.7% | 65.61% |
| 2020 | 8.8% | -36.2% | 2181.7% | 68.16% |
| 2019 | 20.6% | -22.7% | 40.4% | 65.04% |
Total Return Ranking - Trailing
| Period | TOCQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.1% | -47.2% | 13.6% | 35.67% |
| 1 Yr | 19.4% | -38.4% | 43.3% | 65.65% |
| 3 Yr | 6.3%* | -15.0% | 26.8% | 58.34% |
| 5 Yr | 10.9%* | -2.7% | 106.3% | 73.20% |
| 10 Yr | 9.8%* | 2.2% | 20.5% | 77.42% |
* Annualized
Total Return Ranking - Calendar
| Period | TOCQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 16.8% | -5.0% | 47.4% | 82.59% |
| 2022 | -13.8% | -36.8% | -2.2% | 19.39% |
| 2021 | 25.7% | 3.0% | 124.3% | 59.01% |
| 2020 | 12.6% | -15.8% | 2266.0% | 78.83% |
| 2019 | 29.3% | -0.4% | 241.3% | 57.32% |
NAV & Total Return History
TOCQX - Holdings
Concentration Analysis
| TOCQX | Category Low | Category High | TOCQX % Rank | |
|---|---|---|---|---|
| Net Assets | 461 M | 2.34 M | 1.55 T | 67.66% |
| Number of Holdings | 70 | 1 | 4053 | 64.60% |
| Net Assets in Top 10 | 127 M | 885 K | 387 B | 72.53% |
| Weighting of Top 10 | 28.56% | 0.3% | 112.0% | 80.61% |
Top 10 Holdings
- NVIDIA Corp 4.14%
- Alphabet Inc 3.93%
- Microsoft Corp 3.57%
- Merck Co Inc 2.71%
- Applied Materials Inc 2.58%
- QUALCOMM Inc 2.50%
- Apple Inc 2.48%
- NextEra Energy Inc 2.30%
- Automatic Data Processing Inc 2.21%
- ServiceNow Inc 2.15%
Asset Allocation
| Weighting | Return Low | Return High | TOCQX % Rank | |
|---|---|---|---|---|
| Stocks | 98.40% | 0.00% | 124.03% | 61.54% |
| Cash | 1.63% | 0.00% | 99.06% | 37.52% |
| Preferred Stocks | 0.00% | 0.00% | 2.38% | 35.56% |
| Other | 0.00% | -13.91% | 100.00% | 58.32% |
| Convertible Bonds | 0.00% | 0.00% | 5.54% | 31.89% |
| Bonds | 0.00% | -0.50% | 93.78% | 36.97% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | TOCQX % Rank | |
|---|---|---|---|---|
| Technology | 17.88% | 0.00% | 48.94% | 84.66% |
| Industrials | 14.25% | 0.00% | 29.90% | 9.42% |
| Basic Materials | 12.12% | 0.00% | 25.70% | 0.72% |
| Consumer Cyclical | 10.09% | 0.00% | 30.33% | 61.58% |
| Consumer Defense | 9.07% | 0.00% | 47.71% | 17.09% |
| Healthcare | 8.87% | 0.00% | 60.70% | 93.93% |
| Communication Services | 8.09% | 0.00% | 27.94% | 54.95% |
| Financial Services | 6.39% | 0.00% | 55.59% | 96.73% |
| Utilities | 5.47% | 0.00% | 20.91% | 7.35% |
| Energy | 5.33% | 0.00% | 41.64% | 19.17% |
| Real Estate | 2.44% | 0.00% | 31.91% | 60.62% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | TOCQX % Rank | |
|---|---|---|---|---|
| US | 98.40% | 0.00% | 124.03% | 49.06% |
| Non US | 0.00% | 0.00% | 62.81% | 25.43% |
TOCQX - Expenses
Operational Fees
| TOCQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.36% | 0.01% | 16.07% | 18.88% |
| Management Fee | 0.75% | 0.00% | 1.89% | 86.91% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 39.18% |
| Administrative Fee | 0.15% | 0.00% | 0.85% | 71.62% |
Sales Fees
| TOCQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| TOCQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 2.00% | 1.44% |
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.
| TOCQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 11.00% | 0.00% | 496.00% | 24.21% |
TOCQX - Distributions
Dividend Yield Analysis
| TOCQX | Category Low | Category High | TOCQX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.50% | 0.00% | 25.99% | 15.97% |
Dividend Distribution Analysis
| TOCQX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Annual | Annual |
Net Income Ratio Analysis
| TOCQX | Category Low | Category High | TOCQX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.55% | -54.00% | 6.06% | 58.49% |
Capital Gain Distribution Analysis
| TOCQX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 08, 2023 | $2.477 | OrdinaryDividend |
| Dec 08, 2022 | $1.926 | OrdinaryDividend |
| Dec 12, 2018 | $0.339 | OrdinaryDividend |
| Dec 13, 2017 | $0.331 | OrdinaryDividend |
| Dec 15, 2016 | $0.391 | OrdinaryDividend |
| Dec 15, 2015 | $0.347 | OrdinaryDividend |
| Dec 17, 2014 | $0.252 | OrdinaryDividend |
| Dec 18, 2013 | $0.303 | OrdinaryDividend |
| Dec 19, 2012 | $0.347 | OrdinaryDividend |
| Dec 23, 2011 | $0.334 | OrdinaryDividend |
| Dec 14, 2010 | $0.327 | OrdinaryDividend |
| Dec 15, 2009 | $0.234 | OrdinaryDividend |
| Dec 16, 2008 | $0.290 | OrdinaryDividend |
| Dec 15, 2006 | $0.028 | OrdinaryDividend |
| Oct 27, 2006 | $0.111 | ExtraDividend |
| Dec 18, 2003 | $0.018 | OrdinaryDividend |
| Dec 10, 1999 | $0.020 | OrdinaryDividend |
| Dec 11, 1998 | $0.070 | OrdinaryDividend |
| Dec 13, 1996 | $0.060 | OrdinaryDividend |
| Dec 14, 1995 | $0.149 | OrdinaryDividend |
| Dec 16, 1993 | $0.359 | OrdinaryDividend |
TOCQX - Fund Manager Analysis
Managers
Robert Kleinschmidt
Start Date
Tenure
Tenure Rank
Jan 01, 1992
30.43
30.4%
Robert W. Kleinschmidt is President, Chief Executive Officer and Chief Investment Officer of Tocqueville Asset Management L.P. as well as a Portfolio Manager. Mr. Kleinschmidt joined Tocqueville in 1991 and manages discretionary portfolios for institutional, individual and family clients. He is the Portfolio Manager of the firm’s flagship fund, the Tocqueville Fund, and the lead manager of the Multi Cap Equity strategy. In addition, Mr. Kleinschmidt is the Chairman of the Investment Committee. Prior to joining Tocqueville, Mr. Kleinschmidt spent thirteen years with David J. Greene & Company. Prior to joining David J. Greene & Company, he spent two years at the Irving Trust Company, starting his career there in 1976. Before going to Wall Street, he taught Economics at Fordham and Adelphi Universities, and Marymount College. Mr. Kleinschmidt earned a B.B.A. in Accounting from the University of Wisconsin (Oshkosh) and an M.A. in Economics from the University of Massachusetts (Amherst). From 1973 to 1976, he continued postgraduate work in Economics at Columbia University. He also holds the CFA designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 39.02 | 7.23 | 2.42 |