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Trending ETFs

Name

As of 03/27/2024

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

$8.46

$304 M

3.78%

$0.32

1.17%

Vitals

YTD Return

1.3%

1 yr return

8.8%

3 Yr Avg Return

-0.8%

5 Yr Avg Return

0.6%

Net Assets

$304 M

Holdings in Top 10

10.7%

52 WEEK LOW AND HIGH

$8.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.17%

SALES FEES

Front Load 5.75%

Deferred Load N/A

TRADING FEES

Turnover 26.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$8.46

$304 M

3.78%

$0.32

1.17%

APIUX - Profile

Distributions

  • YTD Total Return 1.3%
  • 3 Yr Annualized Total Return -0.8%
  • 5 Yr Annualized Total Return 0.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.35%
DIVIDENDS
  • Dividend Yield 3.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Yorktown Multi-Sector Bond Fund
  • Fund Family Name
    Yorktown Funds
  • Inception Date
    Jan 09, 2004
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Basten

Fund Description

The Multi-Sector Bond Fund invests in securities that, in the Adviser’s opinion, offer the opportunity for current income with limited credit risk.

The Adviser exercises a flexible strategy in the selection of investments and is not limited by investment style or asset class, provided, however, that at least 80% of the Multi-Sector Bond Fund’s net assets are invested in debt securities. The Multi-Sector Bond Fund may invest in debt securities, including U.S. Government securities, corporate bonds and structured notes; common stock of U.S. and foreign issuers and in other U.S. and foreign securities, including securities convertible into common stock and securities issued through private placements; securities issued by investment companies and ETFs, some of which may be affiliated with the Adviser; real estate investment trusts and other issuers that invest, deal, or otherwise engage in transactions in real estate; and other instruments.

The Adviser invests directly in equity or debt securities when it believes attractive investment opportunities exist. In deciding whether to invest in a debt security, the Adviser focuses on the maturity of the obligations and the credit quality of the security, including the underlying rating of insured bonds. When the Adviser believes there is a falling interest rate environment, the Multi-Sector Bond Fund generally will purchase longer maturity obligations. Similarly, when the Adviser believes there is a rising interest rate environment, the Multi-Sector

Bond Fund generally will purchase shorter maturity obligations. Although the Adviser considers ratings in determining whether securities convertible into common stock or debt securities are appropriate investments for the Multi-Sector Bond Fund, such securities may include investments rated below investment grade, commonly known as “junk bonds.” When investing in equity securities, the Adviser looks for companies with favorable income-paying history and that have prospects for income payments to continue to increase.

When investing in Underlying Funds, the Adviser considers, among other things, the Underlying Funds’ past performance and their investment objectives and policies, the investment style, reputation and quality of their investment advisers and the Underlying Funds’ size and cost structure. The Adviser selects ETFs in which to invest based on a number of factors, including an analysis of their past performance, market sector and liquidity. Through direct investments and indirect investments in Underlying Funds and ETFs, the Multi-Sector Bond Fund may have significant exposure to foreign securities, including high yield securities, emerging market securities, small-cap securities and specific sectors of the market.

The Adviser may sell a security or redeem shares of an Underlying Fund given a variety of circumstances, such as: when an investment no longer appears to the Adviser to offer the potential to achieve the Multi-Sector Bond Fund’s investment objective: when an investment’s performance does not meet the Adviser’s expectations; when an investment opportunity arises that the Adviser believes is more compelling; to realize gains or limit losses; or to raise cash to meet shareholder redemptions or to pay expenses.

The Fund may, from time to time, take temporary defensive positions that are inconsistent with the Fund’s principal investment strategies in attempting to respond to adverse market, economic, political, or other conditions. When the Fund takes a defensive position, the Fund’s assets may be held in cash and/or invested in money market mutual funds, money market instruments, including repurchase agreements or other short term securities considered by the Adviser to be of a defensive nature. When the Fund is invested in this manner, it may not achieve its investment objective.

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APIUX - Performance

Return Ranking - Trailing

Period APIUX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -6.5% 5.7% 34.47%
1 Yr 8.8% -9.3% 24.0% 26.28%
3 Yr -0.8%* -16.7% 18.1% 75.77%
5 Yr 0.6%* -13.0% 15.2% 84.05%
10 Yr 1.8%* -13.4% 6.7% 69.46%

* Annualized

Return Ranking - Calendar

Period APIUX Return Category Return Low Category Return High Rank in Category (%)
2023 2.7% -12.0% 15.7% 54.48%
2022 -16.3% -31.8% 18.4% 78.64%
2021 0.3% -26.6% 25.7% 16.83%
2020 -6.0% -49.2% 18.7% 91.34%
2019 10.2% -35.1% 15.3% 1.90%

Total Return Ranking - Trailing

Period APIUX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.3% -6.5% 5.7% 34.47%
1 Yr 8.8% -9.3% 24.0% 26.28%
3 Yr -0.8%* -16.7% 18.1% 75.77%
5 Yr 0.6%* -13.0% 15.2% 84.05%
10 Yr 1.8%* -13.4% 6.7% 69.46%

* Annualized

Total Return Ranking - Calendar

Period APIUX Return Category Return Low Category Return High Rank in Category (%)
2023 7.1% -7.0% 22.2% 63.73%
2022 -12.7% -31.8% 21.1% 82.75%
2021 3.8% -13.5% 49.9% 19.44%
2020 -2.0% -28.6% 24.1% 90.28%
2019 15.3% -4.8% 19.1% 2.67%

NAV & Total Return History


APIUX - Holdings

Concentration Analysis

APIUX Category Low Category High APIUX % Rank
Net Assets 304 M 2.32 M 127 B 64.34%
Number of Holdings 301 2 10577 61.61%
Net Assets in Top 10 29.9 M -1.57 B 65.8 B 82.25%
Weighting of Top 10 10.71% 0.7% 170.6% 92.13%

Top 10 Holdings

  1. United States Treasury Note 1.53%
  2. BNP Paribas SA 1.42%
  3. United Auto Credit Securitization Trust 1.14%
  4. GLS Auto Receivables Issuer Trust 1.06%
  5. Continental Credit Card ABS 1.04%
  6. American Credit Acceptance Receivables Trust 1.01%
  7. GLS Auto Receivables Issuer Trust 0.93%
  8. Atrium XII 0.90%
  9. Lloyds Banking Group PLC 0.87%
  10. HP, Inc. 0.81%

Asset Allocation

Weighting Return Low Return High APIUX % Rank
Bonds
68.93% -150.81% 203.29% 77.54%
Other
30.33% -72.32% 100.00% 6.98%
Convertible Bonds
7.42% 0.00% 33.50% 7.79%
Cash
0.74% -94.66% 258.91% 81.49%
Stocks
0.00% -1.60% 99.88% 95.14%
Preferred Stocks
0.00% 0.00% 30.46% 89.38%

Bond Sector Breakdown

Weighting Return Low Return High APIUX % Rank
Corporate
67.14% 0.00% 96.66% 12.83%
Securitized
31.14% 0.00% 99.65% 30.83%
Government
1.50% 0.00% 99.43% 80.13%
Cash & Equivalents
0.03% 0.00% 88.14% 90.87%
Derivative
0.00% -72.32% 37.37% 55.25%
Municipal
0.00% 0.00% 54.26% 89.51%

Bond Geographic Breakdown

Weighting Return Low Return High APIUX % Rank
US
68.93% -151.11% 203.29% 64.19%
Non US
0.00% 0.00% 67.77% 92.87%

APIUX - Expenses

Operational Fees

APIUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.17% 0.01% 20.67% 49.47%
Management Fee 0.40% 0.00% 2.29% 11.14%
12b-1 Fee 0.50% 0.00% 1.00% 67.42%
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

APIUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.75% 0.00% 5.75% 8.26%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

APIUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% 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.

APIUX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 26.00% 0.00% 632.00% 6.78%

APIUX - Distributions

Dividend Yield Analysis

APIUX Category Low Category High APIUX % Rank
Dividend Yield 3.78% 0.00% 18.15% 68.42%

Dividend Distribution Analysis

APIUX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Quarterly

Net Income Ratio Analysis

APIUX Category Low Category High APIUX % Rank
Net Income Ratio 3.35% -1.55% 11.51% 35.13%

Capital Gain Distribution Analysis

APIUX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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APIUX - Fund Manager Analysis

Managers

David Basten


Start Date

Tenure

Tenure Rank

Jul 02, 1997

24.93

24.9%

Mr. David D. Basten is the Yorktown’s Chief Investment Officer and a Portfolio Manager, having served in that capacity since commencement of each Fund’s operations. Mr. David D. Basten is President and Director of the Yorktown, Managing Partner of Waimed Enterprises, LLC and partner of Downtown Enterprises.Mr. David M. Basten has served as Portfolio Manager since 2005.

Barry Weiss


Start Date

Tenure

Tenure Rank

Mar 25, 2019

3.19

3.2%

Mr. Barry D. Weiss, CFA serves as Portfolio Managers at Yorktown Management & Research since 2019. Prior to that, Mr. Weiss was a Senior Director with the Kroll Bond Rating Agency from 2016 through March 2019. Mr. Weiss was Director for Fund Ratings at Standard & Poor’s Rating Services from 2013 through 2016.

John Tener


Start Date

Tenure

Tenure Rank

Apr 10, 2019

3.14

3.1%

Mr. Tener has served as Portfolio Manager since 2019 and prior to that was a Portfolio Manager for Atlantic Capital Management from 2013 through April 2019.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19