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Trending ETFs

Name

As of 07/06/2022

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

$9.41

$12 M

0.00%

3.54%

Vitals

YTD Return

-11.6%

1 yr return

-8.4%

3 Yr Avg Return

-0.3%

5 Yr Avg Return

1.4%

Net Assets

$12 M

Holdings in Top 10

72.8%

52 WEEK LOW AND HIGH

$9.4
$9.13
$11.05

Expenses

OPERATING FEES

Expense Ratio 3.54%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 13.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 07/06/2022

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

$9.41

$12 M

0.00%

3.54%

ATAMX - Profile

Distributions

  • YTD Total Return -11.6%
  • 3 Yr Annualized Total Return -0.3%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.91%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Anchor Risk Managed Municipal Strategies Fund
  • Fund Family Name
    Anchor
  • Inception Date
    Jul 15, 2020
  • Shares Outstanding
    N/A
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Eric Leake

Fund Description

The Fund seeks to achieve its investment objective, utilizing a “fund of funds” structure, by allocating assets among various strategies based on the adviser’s research and analysis regarding market trends. A market trend is the movement of a financial market in a particular direction over time. Under normal market conditions, the Fund invests, directly or indirectly through unaffiliated exchange traded funds (“ETFs”) and mutual funds (together with ETFs, “Underlying Funds”), at least 80% of its net assets (plus the amount of borrowings, if any) in long and short positions in municipal debt instruments. The Fund takes a long position, or purchases shares of a security, when the adviser believes a security will increase in value, and a short position, or sells shares of borrowed stock, when the adviser believes the value of a security will decrease. The Fund takes long and short positions in securities that provide returns similar to municipal bonds based on long, intermediate, and short-term trends. The adviser considers a long-term trend to be those that are observed over two years or more; intermediate trends to last between nine to 24 months; and short-term trends to take place up to nine months.

At least 80% of the Fund’s assets is invested in:

(1) Underlying Funds that primarily invest in or are otherwise exposed to domestic municipal debt instruments;
(2) derivative instruments, including options, futures, total return swaps, or credit default swaps designed to replicate some or all of the features of an underlying portfolio of municipal bonds; and
(3) other U.S. or foreign fixed-income securities of any rating (including “junk” bonds).

The Fund may also invest in U.S. or foreign cash equivalents including money market funds and treasuries.

The adviser seeks to achieve the Fund’s secondary objective by managing risk through hedging the Fund’s investment portfolio when it believes security prices will decline. The adviser will hedge by:

(i) increasing allocations to cash equivalents or U.S. Treasury securities;
(ii) purchasing inverse mutual funds or inverse ETFs; and
(iii) selling short ETFs or securities the adviser believes have demonstrated a high correlation to municipal bonds.

The Fund may invest in inverse funds linked to U.S. Treasury securities when the adviser believes this strategy will provide an effective hedge to manage interest rate risk.

Generally, the adviser does not attempt to evaluate individual securities. The adviser uses technical analysis, including monitoring price movements and price trends, of municipal bond markets in an effort to identify the proper weighting of the Fund’s portfolio. The adviser’s decision to buy or sell a Fund holding is made based on adviser developed trend and risk models that evaluate current market conditions, and this analysis guides the adviser’s determination of the appropriate exposure level to the municipal bond market. The adviser buys and sells securities and derivatives to increase or decrease the Fund’s exposure to the municipal bond market.

The Fund invests its assets such that at least 80% of the income distributed by the Fund will be tax-exempt.

The adviser may engage in active and frequent trading of the Fund’s portfolio securities and derivatives to achieve the Fund’s investment objective.

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ATAMX - Performance

Return Ranking - Trailing

Period ATAMX Return Category Return Low Category Return High Rank in Category (%)
YTD -11.6% -86.8% 8.7% 84.23%
1 Yr -8.4% -16.3% 15.7% 88.54%
3 Yr -0.3%* -6.2% 10.3% 82.97%
5 Yr 1.4%* -3.5% 5.7% 55.36%
10 Yr N/A* -0.6% 8.3% N/A

* Annualized

Return Ranking - Calendar

Period ATAMX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -91.1% 101.7% N/A
2022 N/A -79.2% 310.0% N/A
2021 N/A -66.1% 15.4% N/A
2020 N/A -57.4% 97.2% N/A
2019 N/A -100.0% 6.8% N/A

Total Return Ranking - Trailing

Period ATAMX Return Category Return Low Category Return High Rank in Category (%)
YTD -11.6% -86.8% 8.7% 83.60%
1 Yr -8.4% -16.3% 23.6% 73.15%
3 Yr -0.3%* -7.0% 11.5% 70.21%
5 Yr 1.4%* -4.0% 5.7% 46.22%
10 Yr N/A* -0.6% 8.3% N/A

* Annualized

Total Return Ranking - Calendar

Period ATAMX Return Category Return Low Category Return High Rank in Category (%)
2023 N/A -91.1% 101.7% N/A
2022 N/A -79.2% 310.0% N/A
2021 N/A -66.1% 15.4% N/A
2020 N/A -57.4% 97.2% N/A
2019 N/A -48.8% 7.0% N/A

NAV & Total Return History


ATAMX - Holdings

Concentration Analysis

ATAMX Category Low Category High ATAMX % Rank
Net Assets 12 M 1.23 M 73.9 B 98.36%
Number of Holdings 17 1 14000 89.42%
Net Assets in Top 10 12.2 M -317 M 8.64 B 68.25%
Weighting of Top 10 72.77% 2.4% 100.0% 14.58%

Top 10 Holdings

  1. First American Government Obligs X 19.07%
  2. Nuveen AMT-Free Muni Credit Inc 11.68%
  3. Nuveen AMT-Free Quality Muni Inc 7.89%
  4. Nuveen CA Quality Muni Income 7.07%
  5. Nuveen Municipal Value 7.03%
  6. Nuveen Quality Muni Income Fund 6.89%
  7. Nuveen Municipal Credit Income 6.50%
  8. BlackRock MuniYield CA Quality 6.42%
  9. BlackRock MuniHoldings CA Qty 6.03%
  10. BlackRock MuniYield CA 5.52%

Asset Allocation

Weighting Return Low Return High ATAMX % Rank
Bonds
68.39% 0.00% 150.86% 99.69%
Cash
31.38% -50.86% 100.00% 0.18%
Stocks
0.23% -0.03% 4.63% 2.16%
Preferred Stocks
0.00% -1.79% 0.04% 14.55%
Other
0.00% -13.03% 30.01% 15.96%
Convertible Bonds
0.00% 0.00% 0.93% 14.86%

Stock Sector Breakdown

Weighting Return Low Return High ATAMX % Rank
Utilities
0.00% 0.00% 0.00% 31.25%
Technology
0.00% 0.00% 0.00% 31.25%
Real Estate
0.00% 0.00% 0.00% 31.25%
Industrials
0.00% 0.00% 100.00% 12.50%
Healthcare
0.00% 0.00% 0.00% 31.25%
Financial Services
0.00% 0.00% 0.00% 31.25%
Energy
0.00% 0.00% 0.00% 31.25%
Communication Services
0.00% 0.00% 100.00% 31.25%
Consumer Defense
0.00% 0.00% 0.00% 31.25%
Consumer Cyclical
0.00% 0.00% 100.00% 56.25%
Basic Materials
0.00% 0.00% 0.00% 87.50%

Stock Geographic Breakdown

Weighting Return Low Return High ATAMX % Rank
US
0.23% -0.03% 4.63% 2.16%
Non US
0.00% 0.00% 0.00% 14.64%

Bond Sector Breakdown

Weighting Return Low Return High ATAMX % Rank
Municipal
65.23% 0.00% 100.00% 99.82%
Cash & Equivalents
34.76% 0.00% 100.00% 0.13%
Corporate
0.01% 0.00% 9.99% 16.14%
Derivative
0.00% 0.00% 21.68% 14.73%
Securitized
0.00% 0.00% 5.93% 15.92%
Government
0.00% 0.00% 52.02% 20.19%

Bond Geographic Breakdown

Weighting Return Low Return High ATAMX % Rank
US
65.83% 0.00% 142.23% 99.65%
Non US
2.56% 0.00% 62.14% 27.43%

ATAMX - Expenses

Operational Fees

ATAMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.54% 0.02% 3.79% 0.13%
Management Fee 1.60% 0.00% 1.60% 100.00%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

ATAMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 4.90% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

ATAMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

ATAMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 13.00% 0.00% 283.00% 33.93%

ATAMX - Distributions

Dividend Yield Analysis

ATAMX Category Low Category High ATAMX % Rank
Dividend Yield 0.00% 0.00% 35.27% 23.22%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

ATAMX Category Low Category High ATAMX % Rank
Net Income Ratio 1.91% -0.53% 24.00% 52.23%

Capital Gain Distribution Analysis

ATAMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Monthly Annually

Distributions History

View More +

ATAMX - Fund Manager Analysis

Managers

Eric Leake


Start Date

Tenure

Tenure Rank

Sep 06, 2016

5.73

5.7%

Eric Leake is President and Chief Investment Officer to Anchor Capital. Mr. Leake is a level II Chartered Market Technician, member of the Market Technicians Association, American Association of Professional Technical Analysts (AAPTA), and a former board memeber to the National Association of Active Investment Managers. Mr. Leake is also a member of the Board of Trustees for the Cambria ETF Trust, a manager to several listed exchange traded funds. Mr. Leake attended Azusa Pacific University majoring in Communications and is an active surfer and coach to youth AYSO soccer and NJB basketball teams.

Garrett Waters


Start Date

Tenure

Tenure Rank

Sep 06, 2016

5.73

5.7%

Garrett Waters is Chief Executive Officer to Anchor Capital. Before joining Anchor Capital in 2009 Garrett began his investment career in New York City with J.P. Morgan Investment Management within its Institutional Investment Management division, then as a principal with Barclays Global Investors. Mr. Waters was involved in institutional and private fund management with Hollencrest Capital Management in 2001 and Pacific Financial Advisers. Garrett is a graduate of Villanova University with a degree in business. Garrett is the former Commissioner for Beaches, Parks and Recreation for the city of San Clemente and is an active surfer and tennis player. Garrett lives in San Clemente, CA along with his wife and two children.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.22 1.58