Commonwealth Japan Fund
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-2.8%
1 yr return
-0.8%
3 Yr Avg Return
-3.4%
5 Yr Avg Return
-1.7%
Net Assets
$5.91 M
Holdings in Top 10
38.1%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 3.46%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 15.00%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$200
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
CNJFX - Profile
Distributions
- YTD Total Return -2.8%
- 3 Yr Annualized Total Return -3.4%
- 5 Yr Annualized Total Return -1.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.51%
- Dividend Yield 0.6%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameCommonwealth Japan Fund
-
Fund Family NameCommonwealth Intl Series Tr
-
Inception DateJan 03, 1994
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Scharar
Fund Description
Under normal market conditions, the Japan Fund invests at least 80% of its net assets in the securities of, and depositary receipts (including American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”), and European Depositary Receipts (“EDRs”)) represented by, Japanese issuers that are tied economically to Japan. The Japan Fund considers an issuer to be a Japanese issuer and thus tied economically to Japan if: (1) the issuer is organized under Japan’s law; (2) the securities of the issuer are listed on Japan’s stock exchanges regardless of the country in which the issuer is organized; (3) the issuer derives 50% or more of its total revenue from goods and/or services produced or sold in Japan; or (4) the securities are issued by government entities of Japan. The Japan Fund invests primarily in debt and equity securities of Japanese issuers. The Japan Fund may also consider an issuer to be a Japanese issuer if it issues securities denominated in the Japanese Yen. The Japan Fund’s equity investments may include common and preferred stock and securities convertible into common stock. The Japan Fund’s investments may include issuers of any market capitalization. In addition, the Japan Fund may purchase ADRs, which are dollar-denominated depositary receipts that, typically, are issued by a United States bank or trust company and represent the deposit with that bank or trust company of a security of a foreign issuer. Generally, ADRs are designed for trading on U.S. securities exchanges or other markets. The Japan Fund may also invest in EDRs, GDRs and in similar instruments representing foreign-traded depositary interests in securities of foreign companies. EDRs are receipts issued by a European financial institution evidencing arrangements similar to ADRs. EDRs are generally designed for use in European securities markets. GDRs are receipts for foreign-based corporations that are traded in capital markets around the world. These depositary receipts may be sponsored or unsponsored. The depositary receipts in which the Fund invests are U.S. dollar-denominated. The Japan Fund may invest in shares of other investment companies, including open-end and closed-end funds and exchange-traded funds (“ETFs”).
The Japan Fund’s investments in debt securities may include obligations of governmental issuers, commercial paper and other companies regardless of credit quality and regardless of whether such securities are rated or unrated by nationally recognized statistical rating organizations (“NRSROs”). The
determination as to whether to make a particular investment in debt securities is based on FCA Corp’s analysis of the risk of the debt security versus the price and return of such debt security. The Japan Fund’s debt investments may include securities that are viewed as being of a credit quality that is below investment-grade (i.e., “junk bonds”) based on ratings established by NRSROs regardless of whether such debt security is rated or not.
The Japan Fund may also engage in borrowing for cash management purposes. The Japan Fund may borrow to the maximum extent permitted by applicable law, which generally means that the Japan Fund may borrow up to one-third of its total assets (including the amount borrowed).
FCA Corp has long-term investment goals and its process seeks to identify potential portfolio investments that can be held over an indefinite time horizon. FCA Corp adjusts portfolio holdings in light of prevailing market conditions and other factors, including, among other things, economic, political, or market events, changes in relative valuations (to both a company’s growth prospects and to other issuers), and liquidity requirements. In selecting investments for the Japan Fund, FCA Corp will assess factors it deems relevant and applicable under the particular circumstances, including, among others:
● | Potential for capital appreciation (to both a company’s growth prospects and to other issuers); |
● | Earnings growth potential and/or sustainability; |
● | Price of security relative to historical and/or future cash flow; |
● | Sustainable franchise value; |
● | Price of a security relative to price of underlying stock, if a convertible security; |
● | Yield on security relative to yield of other fixed-income securities; |
● | Interest or dividend income; |
● | Call and/or put features; |
● | Price of a security relative to price of other comparable securities; |
● | Size of issue; and |
● | Impact of security on diversification of the portfolio. |
FCA Corp will also seek to sell a security when it believes its price is unlikely to appreciate longer term, other comparable investments offer better opportunities for the Japan Fund, or in the course of adjusting the Japan Fund’s emphasis(es) on a given sector(s). The Japan Fund generally invests in equity securities with the view to hold them long-term and debt securities to hold to maturity.
CNJFX - Performance
Return Ranking - Trailing
Period | CNJFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.8% | -2.8% | 26.3% | 100.00% |
1 Yr | -0.8% | -0.8% | 27.5% | 100.00% |
3 Yr | -3.4%* | -12.2% | 24.2% | 89.19% |
5 Yr | -1.7%* | -5.9% | 18.0% | 96.97% |
10 Yr | 2.4%* | 0.4% | 12.4% | 95.83% |
* Annualized
Return Ranking - Calendar
Period | CNJFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.0% | 0.0% | 36.8% | 63.16% |
2022 | -18.5% | -34.0% | 2.8% | 51.35% |
2021 | -11.6% | -15.7% | 14.9% | 82.35% |
2020 | 9.9% | -6.2% | 31.2% | 69.70% |
2019 | 19.2% | 4.7% | 24.4% | 34.38% |
Total Return Ranking - Trailing
Period | CNJFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -2.8% | -2.8% | 26.3% | 100.00% |
1 Yr | -0.8% | -0.8% | 27.5% | 100.00% |
3 Yr | -3.4%* | -12.2% | 24.2% | 89.19% |
5 Yr | -1.7%* | -5.9% | 18.0% | 96.97% |
10 Yr | 2.4%* | 0.4% | 12.4% | 95.83% |
* Annualized
Total Return Ranking - Calendar
Period | CNJFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 14.1% | 2.0% | 42.0% | 86.84% |
2022 | -18.5% | -32.8% | 5.9% | 62.16% |
2021 | -7.9% | -15.1% | 18.0% | 91.18% |
2020 | 9.9% | -3.2% | 34.7% | 75.76% |
2019 | 19.2% | 7.7% | 26.7% | 65.63% |
NAV & Total Return History
CNJFX - Holdings
Concentration Analysis
CNJFX | Category Low | Category High | CNJFX % Rank | |
---|---|---|---|---|
Net Assets | 5.91 M | 5.91 M | 14.1 B | 100.00% |
Number of Holdings | 51 | 27 | 1791 | 76.32% |
Net Assets in Top 10 | 2.5 M | 2.5 M | 4.17 B | 100.00% |
Weighting of Top 10 | 38.10% | 3.5% | 141.4% | 31.58% |
Top 10 Holdings
- Federated Hermes Government Obligations Fund 4.89%
- Hoya Corp. 4.20%
- Hitachi Ltd. 4.12%
- Terumo Corp. 4.10%
- Asahi Intecc Co. Ltd. 3.87%
- Kajima Corp. 3.79%
- Dai-ichi Life Insurance Co. Ltd. 3.72%
- ORIX Corp. 3.50%
- Unicharm Corp. 3.06%
- TD Holdings, Inc. 2.86%
Asset Allocation
Weighting | Return Low | Return High | CNJFX % Rank | |
---|---|---|---|---|
Stocks | 94.34% | 94.34% | 102.16% | 100.00% |
Cash | 4.89% | 0.02% | 38.84% | 13.16% |
Bonds | 3.97% | 0.00% | 3.97% | 2.63% |
Preferred Stocks | 0.00% | 0.00% | 0.67% | 97.37% |
Other | 0.00% | -2.22% | 19.35% | 71.05% |
Convertible Bonds | 0.00% | 0.00% | 0.00% | 97.37% |
Stock Sector Breakdown
Weighting | Return Low | Return High | CNJFX % Rank | |
---|---|---|---|---|
Industrials | 36.49% | 13.72% | 39.39% | 13.16% |
Healthcare | 18.00% | 1.47% | 18.00% | 2.63% |
Financial Services | 11.14% | 1.08% | 17.47% | 44.74% |
Consumer Cyclical | 8.09% | 8.09% | 22.65% | 100.00% |
Technology | 7.76% | 4.23% | 23.51% | 97.37% |
Consumer Defense | 6.89% | 1.07% | 10.59% | 31.58% |
Basic Materials | 6.27% | 0.00% | 14.36% | 44.74% |
Real Estate | 4.35% | 0.00% | 11.26% | 15.79% |
Communication Services | 1.01% | 1.01% | 15.74% | 100.00% |
Utilities | 0.00% | 0.00% | 4.17% | 97.37% |
Energy | 0.00% | 0.00% | 6.19% | 100.00% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | CNJFX % Rank | |
---|---|---|---|---|
Non US | 89.42% | 0.00% | 100.29% | 97.37% |
US | 4.92% | 0.00% | 102.16% | 5.26% |
Bond Sector Breakdown
Weighting | Return Low | Return High | CNJFX % Rank | |
---|---|---|---|---|
Cash & Equivalents | 4.89% | 0.00% | 100.00% | 18.42% |
Derivative | 0.00% | -2.22% | 0.05% | 71.05% |
Securitized | 0.00% | 0.00% | 0.00% | 97.06% |
Corporate | 0.00% | 0.00% | 0.00% | 97.06% |
Municipal | 0.00% | 0.00% | 0.00% | 97.06% |
Government | 0.00% | 0.00% | 14.24% | 97.06% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | CNJFX % Rank | |
---|---|---|---|---|
US | 3.97% | 0.00% | 3.97% | 2.63% |
Non US | 0.00% | 0.00% | 0.00% | 97.37% |
CNJFX - Expenses
Operational Fees
CNJFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 3.46% | 0.09% | 3.46% | 2.63% |
Management Fee | 0.75% | 0.09% | 0.90% | 60.53% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 70.00% |
Administrative Fee | N/A | 0.15% | 0.20% | N/A |
Sales Fees
CNJFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
CNJFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 2.00% | 2.00% | 100.00% |
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.
CNJFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 15.00% | 2.95% | 70.30% | 27.27% |
CNJFX - Distributions
Dividend Yield Analysis
CNJFX | Category Low | Category High | CNJFX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.59% | 0.00% | 21.26% | 84.21% |
Dividend Distribution Analysis
CNJFX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
CNJFX | Category Low | Category High | CNJFX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.51% | -0.63% | 2.45% | 94.74% |
Capital Gain Distribution Analysis
CNJFX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 16, 2024 | $0.022 | OrdinaryDividend |
Dec 15, 2023 | $0.004 | OrdinaryDividend |
Dec 17, 2021 | $0.042 | OrdinaryDividend |
Dec 17, 2021 | $0.133 | CapitalGainLongTerm |
CNJFX - Fund Manager Analysis
Managers
Robert Scharar
Start Date
Tenure
Tenure Rank
Dec 31, 1997
24.43
24.4%
Scharar is a president and director of FCA Corporation, the firm he established in 1983. He co-founded its predecessor, First Commonwealth Associates in 1975. Previously, Scharar was an accounting professor at Bentley and Nichols Colleges, an officer of the United States Trust Company, and a tax specialist at Coopers & Lybrand. He is a member of the Florida and Massachusetts Bars. Scharar holds the Certified Public Accountant designation. Mr. Scharar is a director and past president of the American Association of Attorney-CPAs. He is a director, manager, and/or officer of the following entities: Blantyre Hotels, Ltd. (Malawi), Africap, LLC, NICO Holdings, Ltd. (Malawi), First Commonwealth Holdings Corporation, First Commonwealth Mortgage Trust, Holly Mortgage Trust, Ivy Realty Trust, Nashville Properties, Inc., subsidiary companies at some of the above, and other closely held FCA advised entities and non-FCA related entities. He received his AA degree from Polk Community College in 1968 and his BS in Accounting from the University of Florida in 1970. He received his MBA and JD from Northeastern University in 1971 and 1974, respectively; and an LLM in Taxation from Boston University Law School in 1979.
Wesley Yuhnke
Start Date
Tenure
Tenure Rank
Aug 31, 2002
19.76
19.8%
Yuhnke currently is an assistant portfolio manager and investment operations manager with FCA Corp, which he joined in May 2002. He was appointed assistant portfolio manager in August 2002. Prior to joining FCA Corp, he attended Stephen F. Austin State University where he received his BBA in Finance. While there he was the recipient of the A.G. Edwards Portfolio Management Award. Mr. Yuhnke earned his MBA with emphasis in Finance from Texas Tech University. He currently serves in a dual role as an Assistant Portfolio Manager to the Funds and Chief Investment Officer of FCA Corp.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 24.43 | 7.11 | 8.25 |