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Name

As of 11/30/2023

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

CrossingBridge Low Duration High Yield Fund

CBLDX | Fund

$9.67

$605 M

7.74%

$0.75

0.91%

Vitals

YTD Return

5.7%

1 yr return

6.2%

3 Yr Avg Return

5.1%

5 Yr Avg Return

4.2%

Net Assets

$605 M

Holdings in Top 10

29.4%

52 WEEK LOW AND HIGH

$9.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.91%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A

Min Investment

Standard (Taxable)

$50,000

IRA

$50,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/30/2023

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

CrossingBridge Low Duration High Yield Fund

CBLDX | Fund

$9.67

$605 M

7.74%

$0.75

0.91%

CBLDX - Profile

Distributions

  • YTD Total Return 5.7%
  • 3 Yr Annualized Total Return 5.1%
  • 5 Yr Annualized Total Return 4.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.37%
DIVIDENDS
  • Dividend Yield 7.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    CrossingBridge Low Duration High Yield Fund
  • Fund Family Name
    CrossingBridge
  • Inception Date
    Feb 01, 2018
  • Shares Outstanding
    56542580
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    David Sherman

Fund Description

Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in fixed income securities and loans issued by companies that are rated below investment grade (i.e., “junk” bonds and loans). The fixed income securities and loans in which the Fund invests include traditional corporate bonds, zero-coupon bonds, commercial paper, exchange-traded notes (“ETNs”), distressed debt securities (i.e., fixed income securities that are near to going into default), bank loan assignments and/or participations, private placements, mortgage- and asset-backed securities, U.S. Government obligations, sovereign debt and bank loans to corporate borrowers, and may have fixed, floating or variable rates. The Fund typically focuses on instruments that have short durations (i.e., have an expected duration of three years or less from the time of purchase through maturity, call, or corporate action). To the extent the Fund invests in other investment companies, including exchange-traded funds (“ETFs”), the Fund will consider the underlying holdings of such funds for purposes of meeting its policy of investing at least 80% of its net assets in fixed income securities and loans of companies that have been rated below investment grade.
The Fund may invest up to 35% of its total assets in foreign fixed income instruments, including those denominated in U.S. dollars or other currencies, and may also invest without limit in Rule 144A fixed income securities. Additionally, the Fund may invest up to 25% of its total assets in convertible bonds, up to 25% of its total assets in Yankee bonds, and up to 20% in preferred stocks, special purpose acquisition companies (“SPACs”), and income producing equities. The Fund’s investments in derivative instruments, specifically futures contracts, options, options on futures contracts, swap agreements and forward currency contracts (collectively, “Derivatives”), may be used as a substitute for making direct investments in the underlying instruments or to reduce exposure to, or “hedge” against, market volatilities and other risks. The Fund may use a Derivative rather than investing directly in an underlying asset class as a low-cost, effective means to gain exposure to such asset class.
The Fund will sell an investment during portfolio rebalancing periods when the Fund’s holdings in that investment are larger than the allocation suggested by the Adviser’s investment models or when a more attractive investment becomes available. The Adviser may engage in active trading of the Fund’s portfolio investments, resulting in a high portfolio turnover rate, to achieve the Fund’s investment objective.
There is no assurance the Fund will achieve its investment objective.
Read More

CBLDX - Performance

Return Ranking - Trailing

Period CBLDX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.7% -10.9% 17.0% 21.94%
1 Yr 6.2% -13.3% 16.4% 14.45%
3 Yr 5.1%* -17.6% 18.1% 2.19%
5 Yr 4.2%* -12.3% 14.0% 4.49%
10 Yr N/A* -13.0% 6.1% N/A

* Annualized

Return Ranking - Calendar

Period CBLDX Return Category Return Low Category Return High Rank in Category (%)
2022 -4.1% -31.8% 18.4% 4.23%
2021 2.0% -26.6% 25.7% 5.93%
2020 -0.5% -49.2% 18.7% 67.51%
2019 0.6% -35.1% 15.3% 89.62%
2018 N/A -48.0% 3.4% N/A

Total Return Ranking - Trailing

Period CBLDX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.7% -10.9% 17.0% 21.94%
1 Yr 6.2% -13.3% 16.4% 14.45%
3 Yr 5.1%* -17.6% 18.1% 2.19%
5 Yr 4.2%* -12.3% 14.0% 4.49%
10 Yr N/A* -13.0% 6.1% N/A

* Annualized

Total Return Ranking - Calendar

Period CBLDX Return Category Return Low Category Return High Rank in Category (%)
2022 1.0% -31.8% 21.1% 3.47%
2021 7.4% -13.5% 49.9% 6.71%
2020 3.6% -28.6% 24.1% 67.68%
2019 3.5% -4.8% 19.1% 94.54%
2018 N/A -37.3% 8.0% N/A

NAV & Total Return History

CBLDX - Holdings

Concentration Analysis

CBLDX Category Low Category High CBLDX % Rank
Net Assets 605 M 2.32 M 127 B 51.12%
Number of Holdings 111 2 11525 78.54%
Net Assets in Top 10 178 M -1.57 B 54.9 B 46.13%
Weighting of Top 10 29.38% 0.8% 178.3% 47.18%

Top 10 Holdings

  1. First American Treasury Obligations Fund 5.18%
  2. Infrabuild Australia Pty Ltd 3.30%
  3. Ball Corp 3.06%
  4. Aramark Services Inc 2.93%
  5. Horizon Therapeutics USA Inc 2.85%
  6. General Motors Financial Co Inc 2.51%
  7. CANNABIST CO HLDGS INC SR ACRD NT9.5% 26 2.44%
  8. Cengage Learning Inc 2.41%
  9. Jabil Inc 2.39%
  10. Hawaiian Airlines 2013-1 Class A Pass Through Certificates 2.32%

Asset Allocation

Weighting Return Low Return High CBLDX % Rank
Bonds 		75.07% -150.81% 194.41% 71.97%
Cash 		24.34% -94.66% 258.91% 10.07%
Convertible Bonds 		2.57% 0.00% 33.50% 33.38%
Other 		1.04% -57.67% 102.97% 61.17%
Stocks 		0.58% -4.16% 102.94% 43.21%
Preferred Stocks 		0.48% 0.00% 29.97% 23.21%

Stock Sector Breakdown

Weighting Return Low Return High CBLDX % Rank
Financial Services 		99.71% 0.00% 100.00% 5.35%
Healthcare 		0.15% 0.00% 100.00% 31.55%
Energy 		0.15% 0.00% 100.00% 71.66%
Utilities 		0.00% 0.00% 100.00% 84.49%
Technology 		0.00% 0.00% 29.61% 84.76%
Real Estate 		0.00% 0.00% 100.00% 86.63%
Industrials 		0.00% 0.00% 100.00% 90.11%
Communication Services 		0.00% 0.00% 100.00% 87.97%
Consumer Defense 		0.00% 0.00% 99.97% 85.83%
Consumer Cyclical 		0.00% 0.00% 89.95% 87.70%
Basic Materials 		0.00% 0.00% 100.00% 86.10%

Stock Geographic Breakdown

Weighting Return Low Return High CBLDX % Rank
US 		0.58% -4.01% 102.94% 40.29%
Non US 		0.00% -0.15% 17.73% 78.39%

Bond Sector Breakdown

Weighting Return Low Return High CBLDX % Rank
Corporate 		53.20% 0.00% 97.25% 29.92%
Cash & Equivalents 		24.34% 0.00% 99.42% 8.20%
Securitized 		1.09% 0.00% 99.65% 86.92%
Derivative 		0.10% -57.67% 45.81% 34.99%
Municipal 		0.00% 0.00% 54.26% 82.86%
Government 		0.00% 0.00% 99.43% 96.09%

Bond Geographic Breakdown

Weighting Return Low Return High CBLDX % Rank
US 		64.67% -151.11% 194.41% 68.32%
Non US 		10.40% 0.00% 71.12% 30.80%

CBLDX - Expenses

Operational Fees

CBLDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.91% 0.01% 18.79% 68.41%
Management Fee 0.65% 0.00% 2.29% 64.35%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

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

Trading Fees

CBLDX 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.

CBLDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 632.00% 88.71%

CBLDX - Distributions

Dividend Yield Analysis

CBLDX Category Low Category High CBLDX % Rank
Dividend Yield 7.74% 0.00% 17.31% 81.04%

Dividend Distribution Analysis

CBLDX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

CBLDX Category Low Category High CBLDX % Rank
Net Income Ratio 3.37% -1.55% 11.51% 35.01%

Capital Gain Distribution Analysis

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

Distributions History

View More +

CBLDX - Fund Manager Analysis

Managers

David Sherman

Start Date

Tenure

Tenure Rank

Jan 31, 2018

4.33

4.3%

David K. Sherman is the portfolio manager for RiverPark Short Term and RiverPark Strategic Income. Mr. Sherman, is the managing member of Cohanzick. Since 1996, Mr. Sherman, on behalf of Cohanzick Management, LLC , has managed accounts for various clients utilizing investment programs substantially similar to those intended to be used by the Fund. From January 1987 to August 1996, Mr. Sherman held various executive and director positions at Leucadia National Corporation and/or its subsidiaries. From August 1992 to August 1996, Mr. Sherman served as a Vice President of Leucadia with primary responsibility for the oversight of Leucadia's insurance companies' investment portfolios. Mr. Sherman holds a B.S. in Business Administration from Washington University.

Michael De Kler

Start Date

Tenure

Tenure Rank

Jan 31, 2018

4.33

4.3%

Michael De Kler is an Assistant Portfolio Manager of CrossingBridge Advisors, LLC., a wholly owned subsidiary of Cohanzick Management, LLC. Michael De Kler began his career with Cohanzick as a junior analyst in 1999, rising to his current role of Assistant Portfolio Manager and Senior Analyst. Throughout his time with Cohanzick, Mr. De Kler’s focus has been on high yield and investment grade debt securities. Mr. De Kler graduated from Fairleigh Dickinson University, Magna Cum Laude, with a Bachelor of Science in Finance in 1999 and a Masters of Business Administration in 2001.

T. Kirk Whitney

Start Date

Tenure

Tenure Rank

Dec 31, 2021

0.41

0.4%

T. Kirk Whitney, CFA® is an Assistant Portfolio Manager of the Adviser, a wholly owned subsidiary of Cohanzick Management, LLC, and serves as an Assistant Portfolio Manager of the Responsible Credit Fund. Mr. Whitney began his career with Cohanzick Management, LLC as a Portfolio Analyst in 2013, rising to his current role of Assistant Portfolio Manager and Senior Analyst. Mr. Whitney has over 20 years of experience having worked at the Solaris Group, Concordia Advisors, Alliance Capital and Bloomberg. Mr. Whitney holds a B.S. from Pennsylvania State University.

Tenure Analysis

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

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