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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$12.87

$16.1 M

0.00%

$0.00

2.41%

Vitals

YTD Return

8.0%

1 yr return

-5.0%

3 Yr Avg Return

-1.1%

5 Yr Avg Return

-2.1%

Net Assets

$16.1 M

Holdings in Top 10

56.1%

52 WEEK LOW AND HIGH

$12.9
$10.64
$14.83

Expenses

OPERATING FEES

Expense Ratio 2.41%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 20.00%

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$200

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$12.87

$16.1 M

0.00%

$0.00

2.41%

CNZLX - Profile

Distributions

  • YTD Total Return 8.0%
  • 3 Yr Annualized Total Return -1.1%
  • 5 Yr Annualized Total Return -2.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.35%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Commonwealth Australia/New Zealand Fund
  • Fund Family Name
    Commonwealth Intl Series Tr
  • Inception Date
    Nov 25, 1991
  • Shares Outstanding
    N/A
  • Share Class
    No Load
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Robert Scharar

Fund Description

Under normal market conditions, the Australia/New Zealand 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, Australian and New Zealand issuers that are tied economically to Australia or New Zealand. The Australia/New Zealand Fund considers an issuer to be an Australian or New Zealand issuer and thus tied economically to Australia or New Zealand if: (1) the issuer is organized under Australia or New Zealand law; (2) the securities of the issuer are listed on Australia or New Zealand 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 Australia or New Zealand; or (4) the securities are issued or guaranteed by government entities of Australia or New Zealand. The Australia/New Zealand Fund invests primarily in debt and equity securities of Australian/New Zealand issuers. The Australia/New Zealand Fund may also consider an issuer to be an Australian or New Zealand issuer if it issues securities denominated in the local currency of either Australia or New Zealand. The Australia/New Zealand Fund’s equity investments may include common and preferred stock and securities convertible into common stock. The Australia/New Zealand Fund’s investments may include issuers of any market capitalization. In addition, the Australia/New Zealand Fund may invest in 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 Australia/New Zealand 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 Australia/New Zealand Fund may invest in shares of other investment companies, including open-end and closed-end funds and exchange-traded funds.

FCA Corp, the Australia/New Zealand Fund’s investment adviser (“FCA Corp” or the “Adviser”), does not attempt to maintain equal or set allocations to Australia or New Zealand. Rather, the Australia/New Zealand Fund, from time to time, invests different percentages of its assets in Australia and New Zealand, depending on available investment opportunities and economic and market conditions. The Australia/New Zealand Fund may invest in companies that focus on natural resources production, refining and development.

The Australia/New Zealand 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 Australia/New Zealand 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 Australia/New Zealand Fund may also enter into derivative transactions. The Australia/New Zealand Fund may use derivative transactions for any purpose consistent with its investment objective, such as for hedging, obtaining market exposure, and generating premium income. The Australia/New Zealand Fund may purchase or sell (write) exchange-traded put or call options on stocks or stock indices. The Australia/New Zealand Fund also may enter into foreign currency forward contracts. The Australia/New Zealand Fund may also engage in borrowing for cash management purposes. The Australia/New Zealand Fund may borrow to the maximum extent permitted by applicable law, which generally means that the Australia/New Zealand 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 Australia/New Zealand 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 Fund, or in the course of adjusting the Australia/New Zealand Fund’s emphasis(es) on a given country(ies) or sector(s). The Australia/New Zealand Fund generally invests in equity securities with the view to hold them long-term and debt securities to hold to maturity.

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CNZLX - Performance

Return Ranking - Trailing

Period CNZLX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.0% -84.6% 20.6% 50.00%
1 Yr -5.0% -98.8% 91.2% 50.98%
3 Yr -1.1%* -78.9% 18.6% 77.78%
5 Yr -2.1%* -59.5% 14.1% 68.09%
10 Yr 0.0%* -36.8% 12.5% 59.42%

* Annualized

Return Ranking - Calendar

Period CNZLX Return Category Return Low Category Return High Rank in Category (%)
2022 -21.7% -98.9% 112.8% 68.00%
2021 -1.1% -13.3% 20.1% 82.00%
2020 4.9% -13.5% 12.6% 18.18%
2019 2.5% -6.5% 19.7% 72.73%
2018 -2.5% -11.5% 5.8% 34.04%

Total Return Ranking - Trailing

Period CNZLX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.0% -84.6% 20.6% 50.00%
1 Yr -5.0% -98.8% 91.2% 50.98%
3 Yr -1.1%* -78.9% 18.6% 77.78%
5 Yr -2.1%* -59.5% 14.1% 68.09%
10 Yr 1.8%* -36.1% 12.5% 57.97%

* Annualized

Total Return Ranking - Calendar

Period CNZLX Return Category Return Low Category Return High Rank in Category (%)
2022 -21.7% -98.9% 112.8% 68.00%
2021 -1.1% -13.3% 20.1% 82.00%
2020 4.9% -13.5% 12.6% 18.18%
2019 2.5% -6.5% 19.7% 72.73%
2018 -2.5% -11.5% 5.9% 34.04%

NAV & Total Return History


CNZLX - Holdings

Concentration Analysis

CNZLX Category Low Category High CNZLX % Rank
Net Assets 16.1 M 718 K 6.75 B 80.87%
Number of Holdings 38 13 873 76.52%
Net Assets in Top 10 9.19 M 464 K 3.17 B 79.13%
Weighting of Top 10 56.09% 10.1% 100.0% 51.30%

Top 10 Holdings

  1. South Port New Zealand Ltd 19.43%
  2. South Port New Zealand Ltd 19.43%
  3. South Port New Zealand Ltd 19.43%
  4. South Port New Zealand Ltd 19.43%
  5. South Port New Zealand Ltd 19.43%
  6. South Port New Zealand Ltd 19.43%
  7. South Port New Zealand Ltd 19.43%
  8. South Port New Zealand Ltd 19.43%
  9. South Port New Zealand Ltd 19.43%
  10. South Port New Zealand Ltd 19.43%

Asset Allocation

Weighting Return Low Return High CNZLX % Rank
Stocks
99.30% 0.00% 102.00% 51.30%
Cash
0.70% -2.00% 100.00% 46.09%
Preferred Stocks
0.00% 0.00% 1.75% 25.22%
Other
0.00% -7.90% 31.19% 34.78%
Convertible Bonds
0.00% 0.00% 0.30% 27.83%
Bonds
0.00% 0.00% 3.75% 24.35%

Stock Sector Breakdown

Weighting Return Low Return High CNZLX % Rank
Industrials
39.81% 0.00% 39.81% 0.90%
Healthcare
21.40% 0.00% 37.68% 5.41%
Utilities
9.91% 0.00% 40.46% 11.71%
Consumer Cyclical
9.55% 0.00% 34.93% 35.14%
Consumer Defense
6.11% 0.00% 30.04% 37.84%
Communication Services
4.90% 0.00% 26.06% 50.45%
Real Estate
3.50% 0.00% 34.46% 36.94%
Technology
2.89% 0.00% 44.58% 50.45%
Energy
1.93% 0.00% 51.00% 63.06%
Financial Services
0.00% 0.00% 64.45% 99.10%
Basic Materials
0.00% 0.00% 50.50% 97.30%

Stock Geographic Breakdown

Weighting Return Low Return High CNZLX % Rank
Non US
96.85% 0.00% 102.00% 69.57%
US
2.45% 0.00% 49.47% 15.65%

CNZLX - Expenses

Operational Fees

CNZLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.41% 0.01% 2.49% 2.78%
Management Fee 0.75% 0.00% 1.35% 81.74%
12b-1 Fee 0.25% 0.00% 1.00% 64.71%
Administrative Fee N/A 0.08% 0.15% N/A

Sales Fees

CNZLX 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

CNZLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 2.00% 2.00% 40.00%

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.

CNZLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 20.00% 3.00% 217.50% 53.47%

CNZLX - Distributions

Dividend Yield Analysis

CNZLX Category Low Category High CNZLX % Rank
Dividend Yield 0.00% 0.00% 18.68% 75.89%

Dividend Distribution Analysis

CNZLX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

CNZLX Category Low Category High CNZLX % Rank
Net Income Ratio -0.35% -4.11% 6.59% 95.61%

Capital Gain Distribution Analysis

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

Distributions History

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CNZLX - Fund Manager Analysis

Managers

Robert Scharar


Start Date

Tenure

Tenure Rank

Nov 25, 1991

30.53

30.5%

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
0.09 31.8 7.63 10.64