Vert Global Sustainable Real Estate Fund
Name
As of 12/01/2023Price
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
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$292 M
Holdings in Top 10
51.0%
52 WEEK LOW AND HIGH
$9.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.62%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 19.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$10,000
IRA
$2,500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/01/2023Price
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
VGSRX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.66%
- Dividend Yield 0.5%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameVert Global Sustainable Real Estate Fund
-
Fund Family NameDakota Funds
-
Inception DateOct 31, 2017
-
Shares Outstanding16235238
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJed Fogdall
Fund Description
The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to provide exposure to a broad portfolio of sustainable real estate companies. Under normal market conditions, the Fund will invest at least 80% of its net assets in securities of companies principally engaged in the real estate industry that meet the Advisor’s environmental, social and governance (“ESG”) criteria, as described below. The Fund invests in the securities of U.S. and non-U.S. companies with a focus on real estate investment trusts (“REITs”) or other pooled investment vehicles or companies that manage a portfolio of income producing real estate or real estate-related loans and that the Advisor considers to be similar to REITs because of the way they are treated by tax authorities or because of the way they are required to conduct their business (“REIT-like entities”). REIT-like entities may include companies that own properties, real estate developers and operating companies with substantial real estate holdings.
REITs and REIT-like entities are types of real estate companies that pool investors’ funds for investment primarily in income-producing real estate or real estate related loans or interests, and may include foreign REIT-like entities. The Fund generally considers a company to be principally engaged in the real estate industry if the company: (i) derives at least 50% of its revenue or profits from the ownership, management, development, construction, or sale of residential, commercial, industrial, or other real estate; (ii) has at least 50% of the value of its assets invested in residential, commercial, industrial, or other real estate; or (iii) is organized as a REIT or REIT‑like entity.
The Advisor takes into account the impact that real estate companies have on the environment and other sustainability considerations when making investment decisions for the Fund’s investment portfolio. In assessing sustainability, the Advisor will consider ESG criteria. Some of the environmental criteria the Advisor will consider include emissions, energy use, water use, waste, and risks due to climate change vulnerability such as flood risk, among others. Some of the social criteria the Advisor will consider include employee policies and labor management, health and safety, and tenant engagement, among others. Some of the governance criteria that the Advisor will consider include reporting and disclosure, board diversity and independence, and bribery and corruption, among others. The Advisor sources data from company disclosures, industry bodies, and research companies. The Advisor seeks data that is aligned to an international reporting standard or framework. Data that has the potential for material financial impact is prioritized. The Advisor avoids using third-party ESG ratings where possible.
The Fund invests in the securities of companies associated with countries that the Advisor has identified as approved markets for investment for the Fund (which may include issuers in emerging markets). As of the date of this Prospectus, the Fund may invest in securities of companies associated with: Australia, Austria, Belgium, Brazil, Canada, Finland, France, Germany, Greece, Hong Kong, India, Ireland, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Norway, Philippines, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, United Kingdom, and the United States (collectively, the “Approved Markets”). The Advisor also may authorize other countries for investment in the future, in addition to the Approved Markets listed above. In addition, the Fund may continue to hold securities of countries that are not listed above as Approved Markets, but had been authorized for investment in the past, and may reinvest distributions received in connection with such existing investments in such previously Approved Markets.
The Fund invests in companies principally engaged in the real estate industry using a modified market capitalization weighted approach. A company’s market capitalization is the number of its shares outstanding times its price per share. In general, the higher the relative market capitalization of a real estate company within an Approved Market, the greater its representation in the Fund. The Advisor may modify such market capitalization weightings by adjusting the representation in the Fund of an eligible company, or excluding a company, after considering the sustainability of the company, as well as free float, momentum, trading strategies, liquidity, profitability, and other factors that the Advisor determines to be appropriate. The Advisor also may limit or fix the Fund’s exposure to a particular country or issuer.
The Advisor has engaged Dimensional Fund Advisors LP (“DFA” or the “Sub-Advisor”) as sub-advisor to provide portfolio management and trading services to the Fund with respect to securities identified as eligible for the Fund by the Advisor.
The Fund may lend portfolio securities to generate additional income.
As part of the Fund’s ESG strategy, the Advisor participates in shareholder engagement, which typically includes dialogue with company management, proxy voting on ESG matters (through the Sub-Advisor’s voting of the proxies), and/or participation with shareholder resolutions.
VGSRX - Performance
Return Ranking - Trailing
| Period | VGSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | N/A | -2.8% | 0.3% | 9.95% |
| 1 Yr | N/A | -13.7% | 13.8% | 16.23% |
| 3 Yr | N/A* | -10.3% | 23.5% | 10.44% |
| 5 Yr | N/A* | -6.2% | 17.6% | 55.80% |
| 10 Yr | N/A* | -2.3% | 6.5% | N/A |
* Annualized
Return Ranking - Calendar
| Period | VGSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | N/A | -16.8% | 16.7% | 35.36% |
| 2022 | -27.3% | -43.9% | 4.5% | 34.81% |
| 2021 | 27.9% | -13.9% | 30.7% | 5.08% |
| 2020 | -11.5% | -20.7% | 13.7% | 81.92% |
| 2019 | 19.3% | 1.0% | 26.5% | 22.73% |
Total Return Ranking - Trailing
| Period | VGSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | N/A | -2.8% | 0.3% | 9.95% |
| 1 Yr | N/A | -13.7% | 13.8% | 16.23% |
| 3 Yr | N/A* | -10.3% | 23.5% | 10.44% |
| 5 Yr | N/A* | -6.2% | 17.6% | 55.80% |
| 10 Yr | N/A* | -2.3% | 6.5% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | VGSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | N/A | -14.6% | 23.4% | 56.91% |
| 2022 | -26.2% | -39.5% | 10.1% | 56.35% |
| 2021 | 32.6% | 5.7% | 101.8% | 7.34% |
| 2020 | -10.1% | -17.8% | 14.7% | 87.01% |
| 2019 | 24.6% | 6.7% | 37.2% | 39.20% |
NAV & Total Return History
VGSRX - Holdings
Concentration Analysis
| VGSRX | Category Low | Category High | VGSRX % Rank | |
|---|---|---|---|---|
| Net Assets | 292 M | 3.72 M | 9.6 B | 49.73% |
| Number of Holdings | 143 | 5 | 695 | 13.16% |
| Net Assets in Top 10 | 149 M | 1.79 M | 6.34 B | 41.58% |
| Weighting of Top 10 | 51.00% | 18.2% | 64.1% | 6.88% |
Top 10 Holdings
- Mount Vernon Liquid Assets Portfolio, LLC 12.47%
- Welltower Inc 5.20%
- Digital Realty Trust Inc 5.00%
- Simon Property Group Inc 4.72%
- Prologis Inc 4.68%
- Equinix Inc 4.66%
- American Tower Corp 4.65%
- AvalonBay Communities Inc 3.37%
- Goodman Group 3.19%
- Extra Space Storage Inc 3.06%
Asset Allocation
| Weighting | Return Low | Return High | VGSRX % Rank | |
|---|---|---|---|---|
| Stocks | 98.90% | 2.78% | 126.54% | 37.89% |
| Cash | 12.77% | 0.00% | 12.77% | 0.53% |
| Preferred Stocks | 0.00% | 0.00% | 7.77% | 80.00% |
| Other | 0.00% | -33.49% | 102.40% | 73.16% |
| Convertible Bonds | 0.00% | 0.00% | 0.07% | 75.66% |
| Bonds | 0.00% | 0.00% | 25.38% | 77.89% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | VGSRX % Rank | |
|---|---|---|---|---|
| Real Estate | 100.00% | 72.53% | 100.00% | 9.73% |
| Utilities | 0.00% | 0.00% | 0.96% | 76.22% |
| Technology | 0.00% | 0.00% | 4.92% | 83.24% |
| Industrials | 0.00% | 0.00% | 4.91% | 81.08% |
| Healthcare | 0.00% | 0.00% | 1.54% | 80.00% |
| Financial Services | 0.00% | 0.00% | 9.53% | 81.62% |
| Energy | 0.00% | 0.00% | 0.11% | 75.14% |
| Communication Services | 0.00% | 0.00% | 10.08% | 87.03% |
| Consumer Defense | 0.00% | 0.00% | 0.18% | 76.76% |
| Consumer Cyclical | 0.00% | 0.00% | 13.03% | 91.89% |
| Basic Materials | 0.00% | 0.00% | 1.63% | 76.76% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | VGSRX % Rank | |
|---|---|---|---|---|
| US | 67.47% | 0.00% | 99.58% | 7.37% |
| Non US | 31.43% | 0.00% | 99.08% | 85.26% |
VGSRX - Expenses
Operational Fees
| VGSRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.62% | 0.11% | 33.54% | 91.05% |
| Management Fee | 0.40% | 0.09% | 1.50% | 6.35% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.25% | N/A |
Sales Fees
| VGSRX 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% | 4.00% | N/A |
Trading Fees
| VGSRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 2.00% | 100.00% |
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.
| VGSRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 19.00% | 1.00% | 165.00% | 10.87% |
VGSRX - Distributions
Dividend Yield Analysis
| VGSRX | Category Low | Category High | VGSRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.46% | 0.00% | 4.00% | 76.84% |
Dividend Distribution Analysis
| VGSRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annually | Monthly | Annual |
Net Income Ratio Analysis
| VGSRX | Category Low | Category High | VGSRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.66% | -0.23% | 3.84% | 34.95% |
Capital Gain Distribution Analysis
| VGSRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 15, 2020 | $0.152 | OrdinaryDividend |
| Dec 30, 2019 | $0.015 | OrdinaryDividend |
| Dec 12, 2019 | $0.195 | OrdinaryDividend |
| Sep 26, 2019 | $0.134 | OrdinaryDividend |
| Jun 27, 2019 | $0.031 | OrdinaryDividend |
| Mar 29, 2019 | $0.090 | OrdinaryDividend |
| Dec 13, 2018 | $0.207 | OrdinaryDividend |
| Dec 19, 2017 | $0.049 | OrdinaryDividend |
VGSRX - Fund Manager Analysis
Managers
Jed Fogdall
Start Date
Tenure
Tenure Rank
Oct 31, 2017
4.58
4.6%
Jed S. Fogdall is a Co-Head of Portfolio Management and Vice President of Dimensional and a member of Dimensional’s Investment Committee. Mr. Fogdall has an MBA from the University of California, Los Angeles and a BS from Purdue University. Mr. Fogdall joined Dimensional as a Portfolio Manager in 2004 and has been responsible for international portfolios since 2010 and domestic portfolios since 2012.
Allen Pu
Start Date
Tenure
Tenure Rank
Oct 31, 2017
4.58
4.6%
Allen Pu is Deputy Head of Portfolio Management, North America, a member of the Investment Commit- tee, Vice President and a Senior Portfolio Manager of the Sub-Adviser. Mr. Pu joined Dimensional as a Portfolio Manager in 2006. Mr. Pu has an M.B.A. from the University of California, Los Angeles, an M.S. and Ph.D. from Caltech, and a B.S. from Cooper Union for the Advancement of Science and Art.
William Collins-Dean
Start Date
Tenure
Tenure Rank
Mar 22, 2019
3.19
3.2%
Will Collins-Dean is a Portfolio Manager and Vice President of the Sub-Adviser. Mr. Collins-Dean received his MBA from the University of Chicago and is bachelor’s degree from Wake Forest University. Mr. Collins-Dean joined the Sub-Adviser in 2014 and has been a portfolio manager since 2016.
Samuel Adams
Start Date
Tenure
Tenure Rank
Oct 31, 2019
2.58
2.6%
Samuel Adams is Chief Executive Officer and co-founded Vert Asset Management in 2016. Mr. Adams has a BA from University of Colorado, Boulder and an MBA from UC Davis Graduate School of Management. Prior to founding Vert Asset Management, Mr. Adams worked at Dimensional Fund Advisors LP for 17 years in various roles, including the Head of Financial Advisor Services for Europe, Middle East and Africa.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 20.42 | 6.97 | 10.42 |