ABSOLUTE CAPITAL OPPORTUNITIES FUND
Name
As of 04/22/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.8%
1 yr return
8.5%
3 Yr Avg Return
-1.0%
5 Yr Avg Return
0.4%
Net Assets
$69.3 M
Holdings in Top 10
43.1%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.79%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 30.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$25,000
IRA
$25,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/22/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
CAPOX - Profile
Distributions
- YTD Total Return 1.8%
- 3 Yr Annualized Total Return -1.0%
- 5 Yr Annualized Total Return 0.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -1.10%
- Dividend Yield 0.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameABSOLUTE CAPITAL OPPORTUNITIES FUND
-
Fund Family NameAbsolute Investment Advisers
-
Inception DateDec 30, 2015
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJay Compson
Fund Description
Absolute Investment Advisers LLC (“Absolute”), the Fund’s investment adviser, will pursue the Fund’s investment objective by allocating Fund assets to a subadviser (the “Subadviser”), who employs a range of specialized investment strategies.
Absolute’s primary responsibility is allocating Fund assets to the Subadviser, whom Absolute believes will provide long-term, risk-adjusted returns. In seeking long-term risk-adjusted returns, Absolute equates risk with a permanent loss of capital and not simply volatility. To this end, Absolute will be responsible for selecting and overseeing the Subadviser. Absolute reviews a range of factors (e.g., investment process) when evaluating the Subadviser. Absolute retains the discretion to invest the Fund’s assets in securities and other instruments directly. Absolute has the discretion to remove the Subadviser or, subject to board approval, add new subadvisers at any time. Under normal circumstances, the Subadviser uses a combination of the following investment strategies:
Opportunistic and Long-Biased Equity Strategies seek to capitalize on undervalued equity securities (common stock, preferred stock, convertible securities, warrants, rights and sponsored or unsponsored American Depositary Receipts (“ADRs”)) or on positive market trends and, therefore, typically invests in a variety of securities markets, industries, company sizes, or U.S. or foreign (in the case of ADRs) geographical areas. Strategies may utilize short sales, options and futures and forward contracts to implement selective hedging and manage risk exposure. The Fund may also invest in pooled investment vehicles, including exchange-traded funds (“ETFs”).
Long/Short Equity or Market Neutral Strategies attempt to neutralize exposure to general domestic market risk by primarily investing in common stocks that are undervalued and short selling stocks that are considered to be overvalued. Strategies may attempt to realize a valuation discrepancy in the relationship between multiple securities (relative value or value arbitrage) or may utilize quantitative factors to measure investment attractiveness among securities. Long/Short Equity includes the broad ability to invest in stocks both long and short. Long exposure to a security means the holder of the position owns the security and will profit if the price of the security increases. A short position generally involves the sale of a security that the Fund has borrowed (but does not own) with the expectation that the price of the security will decrease in value, enabling the Fund to repurchase the security later at the lower price. Longs and shorts may be directly related to one another or independent from each other. Equity Market Neutral is a strategy that commits to maintaining a certain balance of long and shorts. This could mean equal parts long and short to keep the net exposure at or near zero, or it could mean a slightly variable amount long and shorts to keep the strategy’s sensitivity to broad market movements at zero.
Long/Short Hedged Equity Strategies invest in securities believed to be undervalued or offer high growth opportunities while also attempting to minimize overall market risk or take advantage of an anticipated decline in the price of an overvalued company or index by using short sales, futures or options. Strategies may use futures or options
to hedge risk, increase or reduce the Fund’s investment exposure or obtain leverage. Leverage is an economic effect resulting from additional investment exposure, which creates the potential for magnified gains or losses. See “Leverage Risk,” below, for more information about the risks of leverage. Hedged Equity refers to a strategy that generally contains a number of long investments, but also certain other securities (cash, shorts, derivatives) designed to mitigate a certain risk(s) embedded in the portfolio’s long positions.
The Fund may focus its investments in securities of a particular sector from time to time, including the Financials Sector and Consumer Discretionary Sector.
CAPOX - Performance
Return Ranking - Trailing
Period | CAPOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.8% | -14.5% | 20.6% | 18.00% |
1 Yr | 8.5% | -39.9% | 61.6% | 94.90% |
3 Yr | -1.0%* | -2.5% | 38.9% | 92.93% |
5 Yr | 0.4%* | -3.2% | 17.8% | 80.36% |
10 Yr | N/A* | -6.1% | 12.4% | N/A |
* Annualized
Return Ranking - Calendar
Period | CAPOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.8% | -40.0% | 54.1% | 83.42% |
2022 | -6.6% | -47.6% | 88.4% | 84.86% |
2021 | -5.2% | -20.3% | 62.6% | 74.43% |
2020 | -8.3% | -53.1% | 15.9% | 13.61% |
2019 | 3.8% | -67.1% | 21.9% | 67.31% |
Total Return Ranking - Trailing
Period | CAPOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.8% | -14.5% | 20.6% | 16.50% |
1 Yr | 8.5% | -39.9% | 61.6% | 93.37% |
3 Yr | -1.0%* | -2.5% | 38.9% | 91.85% |
5 Yr | 0.4%* | -3.7% | 17.8% | 77.38% |
10 Yr | N/A* | -6.1% | 12.4% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | CAPOX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.9% | -37.9% | 54.1% | 83.94% |
2022 | -6.6% | -47.6% | 88.4% | 84.86% |
2021 | -5.2% | -20.3% | 62.6% | 74.43% |
2020 | 8.2% | -53.1% | 15.9% | 4.73% |
2019 | 3.8% | -12.7% | 24.8% | 76.92% |
NAV & Total Return History
CAPOX - Holdings
Concentration Analysis
CAPOX | Category Low | Category High | CAPOX % Rank | |
---|---|---|---|---|
Net Assets | 69.3 M | 0 | 5.48 B | 39.71% |
Number of Holdings | 83 | 4 | 2742 | 44.95% |
Net Assets in Top 10 | 29.9 M | -70.6 M | 864 M | 25.76% |
Weighting of Top 10 | 43.10% | 3.3% | 100.0% | 18.02% |
Top 10 Holdings
- Apple, Inc. 6.22%
- Meta Platforms, Inc. 5.31%
- Amazon.com, Inc. 4.71%
- General Motors Co. 4.37%
- Charles Schwab Corp./The 4.03%
- Visa, Inc. 3.82%
- Alphabet, Inc. 3.81%
- Berkshire Hathaway, Inc. 3.68%
- Philip Morris International, Inc. 3.65%
- Becton Dickinson and Co 3.50%
Asset Allocation
Weighting | Return Low | Return High | CAPOX % Rank | |
---|---|---|---|---|
Stocks | 104.11% | -31.94% | 157.66% | 71.36% |
Cash | 10.70% | -26.23% | 114.03% | 25.89% |
Preferred Stocks | 0.00% | -0.01% | 8.77% | 94.42% |
Convertible Bonds | 0.00% | 0.00% | 3.45% | 96.45% |
Bonds | 0.00% | -0.70% | 152.17% | 92.96% |
Other | -14.81% | -57.66% | 49.47% | 84.26% |
Stock Sector Breakdown
Weighting | Return Low | Return High | CAPOX % Rank | |
---|---|---|---|---|
Technology | 22.38% | 0.00% | 52.27% | 38.12% |
Consumer Cyclical | 22.00% | 0.00% | 84.93% | 8.84% |
Financial Services | 20.76% | 0.00% | 78.62% | 13.26% |
Communication Services | 17.20% | 0.00% | 29.95% | 4.42% |
Industrials | 6.87% | 0.00% | 34.62% | 90.06% |
Consumer Defense | 5.87% | 0.00% | 25.53% | 70.72% |
Healthcare | 4.21% | 0.00% | 100.00% | 92.27% |
Energy | 0.69% | 0.00% | 14.91% | 81.22% |
Utilities | 0.00% | 0.00% | 26.17% | 73.48% |
Real Estate | 0.00% | 0.00% | 16.22% | 77.35% |
Basic Materials | 0.00% | 0.00% | 19.02% | 81.22% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | CAPOX % Rank | |
---|---|---|---|---|
US | 104.11% | -36.77% | 152.85% | 53.81% |
Non US | 0.00% | -7.64% | 98.00% | 64.97% |
CAPOX - Expenses
Operational Fees
CAPOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.79% | 0.40% | 11.46% | 68.29% |
Management Fee | 1.40% | 0.00% | 2.50% | 75.12% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.03% | 1.54% | N/A |
Sales Fees
CAPOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
CAPOX 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.
CAPOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 30.00% | 0.00% | 479.00% | 52.32% |
CAPOX - Distributions
Dividend Yield Analysis
CAPOX | Category Low | Category High | CAPOX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 1.40% | 95.61% |
Dividend Distribution Analysis
CAPOX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annually | Annually | Annually |
Net Income Ratio Analysis
CAPOX | Category Low | Category High | CAPOX % Rank | |
---|---|---|---|---|
Net Income Ratio | -1.10% | -3.33% | 2.88% | 68.72% |
Capital Gain Distribution Analysis
CAPOX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Jun 30, 2023 | $0.006 | OrdinaryDividend |
Dec 14, 2020 | $1.954 | OrdinaryDividend |
Jul 01, 2020 | $0.005 | OrdinaryDividend |
CAPOX - Fund Manager Analysis
Managers
Jay Compson
Start Date
Tenure
Tenure Rank
Dec 30, 2015
6.42
6.4%
Compson is the principal and founder of Absolute Investment Advisers LLC since 2004. Prior to founding Absolute in 2004, Mr. Compson was a Portfolio Manager and Partner at Abington Capital LP, a Boston-based hedge fund. He also spent several years in corporate risk management roles at two investment banks — Lehman Brothers and Tucker Anthony Sutro. Mr. Compson received his BA degree from Franklin & Marshall College and his MBA in Finance and Management from New York University's Stern School of Business
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.02 | 23.14 | 5.83 | 7.52 |