Columbia Adaptive Risk Allocation Fund
Fund
CARRX
Price as of:
$8.34
- $0.02
- 0.24%
Primary Theme
fund company
Name
As of 09/27/2023Price
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
-0.5%
1 yr return
1.1%
3 Yr Avg Return
0.5%
5 Yr Avg Return
2.9%
Net Assets
$3.54 B
Holdings in Top 10
64.1%
52 WEEK LOW AND HIGH
$8.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.81%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 227.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 09/27/2023Price
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
CARRX - Profile
Distributions
- YTD Total Return -0.5%
- 3 Yr Annualized Total Return 0.5%
- 5 Yr Annualized Total Return 2.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.20%
- Dividend Yield 8.1%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameColumbia Adaptive Risk Allocation Fund
-
Fund Family NameColumbia Funds Complex
-
Inception DateOct 01, 2014
-
Shares OutstandingN/A
-
Share ClassAdv
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJoshua Kutin
Fund Description
Under normal circumstances, the Fund pursues its investment objective by allocating portfolio risk across multiple asset classes in U.S. and non-U.S. markets with the goal of generating consistent risk-adjusted returns. For these purposes, risk is the expected volatility (i.e., dispersion of returns) of a security, market, index or asset class, as determined by Columbia Management Investment Advisers, LLC (the Investment Manager).
The Investment Manager employs quantitative and fundamental methods to identify distinct market states and creates a strategic risk allocation for each state that is intended to generate attractive risk-adjusted returns in that market state. Allocations of risk to asset classes may differ significantly across market states. In addition to strategic risk allocations based on the market state, the Investment Manager may make tactical adjustments within and among asset classes and pursue opportunistic strategies in response to changing market, economic or other conditions.
The Investment Manager may use a variety of security and instrument types to gain exposure to equity securities, inflation-hedging assets and fixed income securities (generally consisting of fixed income securities issued by governments, which are referred to as interest rate assets, and other fixed income securities, which are referred to as spread assets).
The Fund may invest in securities and instruments issued by both U.S. and non-U.S. entities, including issuers in emerging market countries. The Fund may also invest in currencies. The Fund may invest in companies that have market capitalizations of any size. The Fund may invest in fixed income securities of any maturity (and does not seek to maintain a particular dollar-weighted average maturity) and of any credit quality, including investments that are rated below investment-grade or are deemed to be of comparable quality (commonly referred to as “high yield securities” or “junk bonds”).
The Fund may purchase or sell securities on a when-issued, delayed delivery or forward commitment basis. Such securities may include mortgage-backed securities acquired or sold in the “to be announced” (TBA) market and those in a dollar roll transaction.
The Fund may invest in privately placed and other securities or instruments that are purchased and sold pursuant to Rule 144A or other exemptions under the Securities Act of 1933, as amended, subject to certain regulatory restrictions.
The Fund may invest in derivatives, such as forward contracts (including forward foreign currency contracts), futures (including currency, equity, index, interest rate and other bond futures), options and swaps (including credit default swaps, credit default swap indexes, interest rate swaps, and total return swaps). The Fund may invest in derivatives for both hedging and non-hedging purposes, including, for example, seeking to enhance returns or as a substitute for a position in an underlying asset. The Fund may invest in derivatives to manage the Fund's overall risk exposure. The Fund also expects to use derivatives to obtain leverage (market exposure in excess of the Fund’s assets). The Fund may utilize significant amounts of leverage within certain asset classes and during certain market states in an effort to maintain attractive expected risk-adjusted returns while adhering to the Fund's risk allocation framework.
The Fund may also take short positions, for hedging or investment purposes.
As part of its principal investment strategies, the Fund may hold a significant amount of cash, money market instruments (which may include investments in one or more affiliated or unaffiliated money market funds or similar vehicles), other high-quality, short-term investments, or other liquid assets for investment purposes. In certain market conditions, the Fund may have no market positions (i.e., the Fund may hold only cash and cash equivalents) when the Investment Manager believes it is in the best interests of the Fund.
The Fund may invest in the securities and instruments described herein directly or indirectly through investments in other mutual funds, real estate investment trusts and similar entities formed under the laws of non-U.S. countries, closed-end funds and exchange-traded funds (ETFs) (including both leveraged and inverse ETFs) managed by third parties or the Investment Manager or its affiliates. Depending on current and expected market and economic conditions, the Fund may invest all of its assets in underlying funds. From time to time, the Fund may focus its investments in certain countries or geographic areas, including Europe.
The Fund’s investment strategy may involve the frequent trading of portfolio securities.
CARRX - Performance
Return Ranking - Trailing
| Period | CARRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.5% | -12.5% | 37.5% | 70.71% |
| 1 Yr | 1.1% | -18.5% | 25.1% | 81.59% |
| 3 Yr | 0.5%* | -17.6% | 13.4% | 78.21% |
| 5 Yr | 2.9%* | -12.8% | 9.1% | 51.85% |
| 10 Yr | N/A* | -6.4% | 3.9% | N/A |
* Annualized
Return Ranking - Calendar
| Period | CARRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -21.3% | -46.5% | 0.1% | 77.82% |
| 2021 | -8.0% | -19.0% | 48.3% | 87.82% |
| 2020 | 7.1% | -16.5% | 52.8% | 43.75% |
| 2019 | 10.5% | -8.5% | 27.3% | 50.23% |
| 2018 | -10.0% | -29.6% | 1.6% | 49.75% |
Total Return Ranking - Trailing
| Period | CARRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.5% | -12.5% | 37.5% | 70.71% |
| 1 Yr | 1.1% | -18.5% | 25.3% | 81.59% |
| 3 Yr | 0.5%* | -14.6% | 18.5% | 78.21% |
| 5 Yr | 2.9%* | -11.2% | 11.3% | 51.85% |
| 10 Yr | N/A* | 0.3% | 9.1% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | CARRX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -15.0% | -46.5% | 4.6% | 59.83% |
| 2021 | 11.0% | -10.6% | 48.3% | 58.82% |
| 2020 | 9.4% | -11.7% | 77.4% | 45.54% |
| 2019 | 18.9% | -3.9% | 28.2% | 21.46% |
| 2018 | -4.5% | -28.0% | 2.6% | 28.57% |
NAV & Total Return History
CARRX - Holdings
Concentration Analysis
| CARRX | Category Low | Category High | CARRX % Rank | |
|---|---|---|---|---|
| Net Assets | 3.54 B | 1.86 M | 83.5 B | 4.96% |
| Number of Holdings | 165 | 2 | 3255 | 21.90% |
| Net Assets in Top 10 | 2.27 B | 349 K | 12.1 B | 4.13% |
| Weighting of Top 10 | 64.09% | 22.9% | 100.0% | 59.50% |
Top 10 Holdings
- COLUMBIA SHORT TERM CASH FUND 45.54%
- Columbia Commodity Strategy Fund 8.76%
- UMBS 30YR TBA(REG A) 1.67%
- Prologis Inc 1.40%
- SP500 EMINI JUN 23 1.25%
- UMBS 30YR TBA(REG A) 1.24%
- UMBS 30YR TBA(REG A) 1.12%
- TREASURY NOTE 1.12%
- TREASURY NOTE 1.05%
- TREASURY NOTE 0.93%
Asset Allocation
| Weighting | Return Low | Return High | CARRX % Rank | |
|---|---|---|---|---|
| Cash | 45.54% | -65.52% | 88.88% | 10.33% |
| Bonds | 36.77% | 0.00% | 106.59% | 16.94% |
| Stocks | 17.77% | 0.00% | 238.38% | 85.95% |
| Other | 0.70% | -72.87% | 73.78% | 11.98% |
| Convertible Bonds | 0.06% | 0.00% | 8.92% | 48.35% |
| Preferred Stocks | 0.00% | 0.00% | 6.21% | 24.38% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | CARRX % Rank | |
|---|---|---|---|---|
| Real Estate | 98.48% | 0.00% | 99.45% | 1.96% |
| Consumer Cyclical | 1.52% | 0.00% | 25.83% | 89.22% |
| Utilities | 0.00% | 0.00% | 91.12% | 89.22% |
| Technology | 0.00% | 0.00% | 85.77% | 92.65% |
| Industrials | 0.00% | 0.00% | 23.85% | 96.57% |
| Healthcare | 0.00% | 0.00% | 38.63% | 94.61% |
| Financial Services | 0.00% | 0.00% | 98.22% | 92.16% |
| Energy | 0.00% | 0.00% | 60.89% | 87.75% |
| Communication Services | 0.00% | 0.00% | 21.61% | 88.24% |
| Consumer Defense | 0.00% | 0.00% | 37.51% | 94.12% |
| Basic Materials | 0.00% | 0.00% | 56.73% | 93.14% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | CARRX % Rank | |
|---|---|---|---|---|
| US | 17.77% | -1.19% | 235.84% | 85.95% |
| Non US | 0.00% | -6.82% | 98.11% | 32.64% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | CARRX % Rank | |
|---|---|---|---|---|
| Cash & Equivalents | 45.54% | -72.56% | 100.00% | 9.50% |
| Government | 40.42% | 0.00% | 99.78% | 32.64% |
| Securitized | 5.03% | 0.00% | 52.99% | 28.93% |
| Corporate | 0.72% | 0.00% | 98.28% | 61.16% |
| Derivative | 0.70% | 0.00% | 71.81% | 11.57% |
| Municipal | 0.00% | 0.00% | 19.13% | 45.04% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | CARRX % Rank | |
|---|---|---|---|---|
| US | 21.54% | -17.22% | 99.80% | 24.38% |
| Non US | 15.24% | -2.67% | 63.37% | 3.72% |
CARRX - Expenses
Operational Fees
| CARRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.81% | 0.21% | 4.40% | 92.98% |
| Management Fee | 0.70% | 0.00% | 1.50% | 30.58% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 3.13% |
| Administrative Fee | N/A | 0.05% | 0.70% | 34.94% |
Sales Fees
| CARRX 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% | 1.00% | N/A |
Trading Fees
| CARRX 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.
| CARRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 227.00% | 1.75% | 441.00% | 88.27% |
CARRX - Distributions
Dividend Yield Analysis
| CARRX | Category Low | Category High | CARRX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 8.15% | 0.00% | 12.46% | 2.49% |
Dividend Distribution Analysis
| CARRX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| CARRX | Category Low | Category High | CARRX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.20% | -2.01% | 13.72% | 55.37% |
Capital Gain Distribution Analysis
| CARRX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 20, 2022 | $0.681 | OrdinaryDividend |
| Dec 19, 2018 | $0.373 | OrdinaryDividend |
| Dec 20, 2017 | $0.005 | OrdinaryDividend |
| Dec 21, 2016 | $0.131 | OrdinaryDividend |
CARRX - Fund Manager Analysis
Managers
Joshua Kutin
Start Date
Tenure
Tenure Rank
Oct 01, 2015
6.67
6.7%
Joshua Kutin is Head of Asset Allocation, North America, and a senior portfolio manager for the Global Asset Allocation Team at Columbia Threadneedle Investments. He is responsible for research across solutions, with a particular focus on global asset allocation and alternatives. Prior to joining Columbia Threadneedle Investments in 2015, Mr. Kutin worked at Putnam Investments as a portfolio manager on the global asset allocation team. He has been a member of the investment community since 1998. Mr. Kutin received a B.S. in economics and a B.S. in mathematics with computer science from MIT, as well as a masters degree in finance from Princeton University.
Alexander Wilkinson
Start Date
Tenure
Tenure Rank
May 24, 2018
4.02
4.0%
Alex Wilkinson is a portfolio manager for the Global Asset Allocation Team at Columbia Threadneedle Investments. Mr. Wilkinson joined one of the Columbia Threadneedle Investments firms in 2006 and has been a member of the investment community since then. Prior to joining the Global Asset Allocation Team he held positions as a senior analyst on the Performance Measurement Team, and as an intermediate analyst with the Quantitative Strategies Group. Mr. Wilkinson received a B.A. in economics from the University of Massachusetts at Amherst. In addition, he holds the Chartered Financial Analyst® and Chartered Alternative Investment Analyst designations.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 33.83 | 6.7 | 13.0 |