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Name

As of 04/19/2024

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

CrossingBridge Ultra-Short Duration Fund

CBUDX | Fund

$9.97

$100 M

0.00%

1.06%

Vitals

YTD Return

1.9%

1 yr return

6.3%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$100 M

Holdings in Top 10

26.3%

52 WEEK LOW AND HIGH

$10.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.06%

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 04/19/2024

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

CrossingBridge Ultra-Short Duration Fund

CBUDX | Fund

$9.97

$100 M

0.00%

1.06%

CBUDX - Profile

Distributions

  • YTD Total Return 1.9%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.28%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    CrossingBridge Ultra-Short Duration Fund
  • Fund Family Name
    CrossingBridge
  • Inception Date
    Jun 30, 2021
  • Shares Outstanding
    6331748
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    T. Kirk Whitney

Fund Description

The Fund seeks to offer a higher yield than cash instruments while maintaining a low duration by investing primarily in fixed income securities consistent with capital preservation. The Fund defines fixed income securities to include: bills, notes, bonds, debentures, convertible bonds, loan participations, syndicated loan assignments, mortgage- and asset-backed securities, Rule 144A fixed income securities, zero coupon securities, sovereign debt and other evidence of indebtedness issued by U.S. or foreign corporations, governments, government agencies or government instrumentalities, including floating-rate securities, preferred stock and fixed income-like equities. Convertible bonds, preferred stocks, and fixed income-like equities (e.g., special purpose acquisition companies (“SPACs”)) provide interest income and/or the potential for capital appreciation while having an effective maturity. Floating-rate securities provide interest income that can increase or decrease with interest rates. The Fund invests in individual fixed income securities without restriction as to issuer credit quality, capitalization or security maturity. Though the Fund can invest in securities domiciled in foreign countries and denominated in foreign currencies, the Fund invests primarily in securities denominated in U.S. dollars issued by issuers domiciled in developed markets. The Fund may invest up to 100% of its assets in lower-quality fixed income securities — commonly known as “high yield” or “junk” bonds. Junk bonds are generally rated lower than Baa3 by Moody’s Investors Service, Inc. (“Moody’s”) or lower than BBB- by S&P Global Ratings Services (“S&P”) (“S&P”). The Adviser believes these investments are consistent with the preservation of capital. The Fund may invest in companies that are in default, subject to bankruptcy or reorganization.
The Adviser seeks to manage interest rate, default and currency risks. The Adviser manages interest rate risk by maintaining, under normal market conditions, an average portfolio duration of 1 or less by investing in short-term, medium-term and floating rate securities. The stated maturity for a fixed income security may be longer than its expected maturity used for the portfolio duration calculation. The stated maturity may differ from the expected maturity as a result of market conditions or corporate actions (such as a change of control ‘put’ provision or corporate redemption feature). Duration is a measure of sensitivity of a security’s price to changes in interest rates. For example, a security with a duration of 1 would be expected to decrease in price 1% for every 1% rise in interest rates (the inverse is true as well).
The Adviser manages default risk by selecting securities of issuers that it believes will pay interest and principal regardless of their credit rating, based upon the Adviser’s credit analysis of each issuer. The Adviser may also select securities that are in default, subject to bankruptcy or reorganization where the
Adviser believes the risks to be consistent with capital preservation, based on the Adviser’s analysis of an issuer’s liquidation value or post-bankruptcy or post-reorganization value.
The Adviser manages foreign currency risk by investing primarily in securities denominated in U.S. dollars, such as Yankee bonds. If the Fund were to invest in foreign currency denominated securities, the Fund restricts such activity to less than 35% of the Fund’s total assets. When deemed appropriate, the Adviser may hedge the foreign currency exposure typically, and primarily, with forward currency contracts. A forward currency contract is an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties.
The Adviser may engage in active and frequent trading, resulting in a high portfolio turnover rate, to achieve the Fund’s investment objective.
There is no assurance that the Fund will achieve its investment objective.
Read More

CBUDX - Performance

Return Ranking - Trailing

Period CBUDX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -1.5% 2.8% 25.81%
1 Yr 6.3% -0.2% 11.8% 21.30%
3 Yr N/A* -2.1% 5.8% N/A
5 Yr N/A* -1.0% 3.9% N/A
10 Yr N/A* -4.5% 27.5% N/A

* Annualized

Return Ranking - Calendar

Period CBUDX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.2% -2.3% 4.3% 96.31%
2022 -0.7% -6.5% 0.5% 17.62%
2021 N/A -2.1% 0.3% N/A
2020 N/A -3.1% 1.8% N/A
2019 N/A -1.2% 6.1% N/A

Total Return Ranking - Trailing

Period CBUDX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.9% -1.5% 2.8% 25.81%
1 Yr 6.3% -0.2% 11.8% 21.30%
3 Yr N/A* -2.1% 5.8% N/A
5 Yr N/A* -1.0% 3.9% N/A
10 Yr N/A* -4.5% 27.5% N/A

* Annualized

Total Return Ranking - Calendar

Period CBUDX Return Category Return Low Category Return High Rank in Category (%)
2023 5.7% 0.8% 12.1% 59.91%
2022 2.5% -5.1% 2.5% 0.48%
2021 N/A -2.1% 14.5% N/A
2020 N/A -1.0% 3.6% N/A
2019 N/A 0.3% 9.6% N/A

NAV & Total Return History

CBUDX - Holdings

Concentration Analysis

CBUDX Category Low Category High CBUDX % Rank
Net Assets 100 M 25.6 K 22.6 B 85.07%
Number of Holdings 69 2 1291 87.78%
Net Assets in Top 10 26.4 M 32.5 K 18.4 B 84.16%
Weighting of Top 10 26.33% 5.6% 163.3% 34.39%

Top 10 Holdings

  1. Microchip Technology Inc 2.99%
  2. Credit Suisse Mortgage Capital Certificates 2019-ICE4 2.78%
  3. Eastman Chemical Co 2.72%
  4. PDC Energy Inc 2.69%
  5. NAI Entertainment Holdings LLC 2.58%
  6. Glencore Funding LLC 2.56%
  7. LAD Auto Receivables Trust 2023-3 2.54%
  8. Fidelity National Information Services Inc 2.52%
  9. Delta Air Lines 2019-1 Class AA Pass Through Trust 2.48%
  10. Elkem ASA 2.46%

Asset Allocation

Weighting Return Low Return High CBUDX % Rank
Bonds 		84.78% 0.00% 128.16% 38.46%
Cash 		8.53% 0.00% 109.89% 38.01%
Other 		6.69% -29.59% 99.92% 53.85%
Convertible Bonds 		2.94% 0.00% 15.25% 48.64%
Stocks 		0.00% 0.00% 97.29% 61.99%
Preferred Stocks 		0.00% 0.00% 0.00% 53.39%

Bond Sector Breakdown

Weighting Return Low Return High CBUDX % Rank
Corporate 		63.11% 0.00% 99.91% 11.36%
Securitized 		7.26% 0.00% 100.00% 71.82%
Cash & Equivalents 		6.67% 0.00% 109.89% 38.91%
Municipal 		0.00% 0.00% 70.39% 75.00%
Government 		0.00% 0.00% 100.00% 88.18%
Derivative 		-0.21% -29.59% 21.59% 82.35%

Bond Geographic Breakdown

Weighting Return Low Return High CBUDX % Rank
US 		77.21% 0.00% 128.16% 52.94%
Non US 		7.58% 0.00% 22.24% 4.98%

CBUDX - Expenses

Operational Fees

CBUDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.06% 0.02% 28.11% 8.22%
Management Fee 0.65% 0.00% 1.19% 98.64%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

CBUDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 0.25% 1.00% N/A

Trading Fees

CBUDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

CBUDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 369.54% N/A

CBUDX - Distributions

Dividend Yield Analysis

CBUDX Category Low Category High CBUDX % Rank
Dividend Yield 0.00% 0.00% 8.12% 6.79%

Dividend Distribution Analysis

CBUDX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Monthly Monthly

Net Income Ratio Analysis

CBUDX Category Low Category High CBUDX % Rank
Net Income Ratio -0.28% -1.30% 14.86% 96.71%

Capital Gain Distribution Analysis

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

Distributions History

View More +

CBUDX - Fund Manager Analysis

Managers

T. Kirk Whitney

Start Date

Tenure

Tenure Rank

Jun 30, 2021

0.92

0.9%

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.

David Sherman

Start Date

Tenure

Tenure Rank

Jun 30, 2021

0.92

0.9%

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

Jun 30, 2021

0.92

0.9%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.56 0.13

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