Columbia Thermostat Fund
Fund
COTZX
Price as of:
$14.46
- $0.01
- 0.07%
Primary Theme
fund company
Name
As of 09/29/2023Price
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
2.9%
1 yr return
7.0%
3 Yr Avg Return
2.9%
5 Yr Avg Return
8.6%
Net Assets
$1.4 B
Holdings in Top 10
97.2%
52 WEEK LOW AND HIGH
$14.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.65%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 49.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 09/29/2023Price
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
COTZX - Profile
Distributions
- YTD Total Return 2.9%
- 3 Yr Annualized Total Return 2.9%
- 5 Yr Annualized Total Return 8.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.52%
- Dividend Yield 0.4%
- Dividend Distribution Frequency SemiAnnual
Fund Details
-
Legal NameColumbia Thermostat Fund
-
Fund Family NameColumbia Funds Complex
-
Inception DateSep 25, 2002
-
Shares OutstandingN/A
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAnwiti Bahuguna
Fund Description
The Fund is primarily managed as a fund that invests in other funds (i.e., a “fund-of-funds”) that seeks to achieve its investment objective by investing its assets among a selected group of underlying stock and bond mutual funds and exchanged-traded funds (ETFs) for which Columbia Wanger Asset Management, LLC, the Fund’s investment adviser (the Investment Manager) or its affiliates, including Columbia Management Investment Advisers, LLC (Columbia Management), serves as investment adviser or principal underwriter (the Portfolio Funds). Under normal circumstances, the Fund allocates at least 95% of its net assets (stock/bond assets) among the Portfolio Funds according to an asset allocation table based on the current level of the Standard & Poor’s (S&P) 500® Index.
Generally, the Fund’s allocation to stock funds increases as the S&P 500® Index declines and decreases as the S&P 500® Index rises. When the S&P 500® Index goes up in relation to trading range bands that are predetermined by the Investment Manager, the Fund sells a portion of its stock Portfolio Funds and invests more in the bond Portfolio Funds, and when the S&P 500® Index goes down in relation to the predetermined bands, the Fund increases its investment in the stock Portfolio Funds. Under normal circumstances, the Fund may invest up to 5% of net assets plus any cash received that day in cash, high quality short-term paper and government securities.
Although many asset allocation funds follow a basic approach of moving assets from stocks to bonds when the equity market goes up, and from bonds to stocks when the equity market goes down, some are run by investment managers who allocate fund assets by making subjective decisions based on complicated economic and financial models and complex graphs of market behavior. By contrast, the day-to-day investment decisions for the Fund are made according to a single predetermined allocation table. The temperature in your house is run by a single rule: your thermostat turns on the furnace if your house is too cold or turns on the air conditioner if your house is too warm. This Fund works the same way, so it is named Columbia Thermostat Fund.
Just as a thermostat may be set at different ranges for different seasons, the structure and allocation ranges of the Fund’s asset allocation table may be changed from time to time between two forms, based on the Investment Manager’s determination of whether it expects the equity market to be moving over the next year in a side-ways or non-directional pattern, which the Investment Manager terms an “expensive” market, or to be trending upward, which the Investment Manager terms a “normal” market. The Investment Manager’s process and methodology for determining whether the current market is “expensive” or “normal” and the structure of each form of allocation table are described in more detail in the Principal Investment Strategiessection of the Fund's statutory prospectus. Such determination will be made on at least an annual basis and will be reflected in the asset allocation table disclosed in the Fund’s statutory prospectus. In general, the two different forms of allocation table are intended to maximize the capture of value under the two different sets of market conditions.
The Fund’s current form of asset allocation table, which is set forth in the Principal Investment Strategies section of the Fund's statutory prospectus, has been in place since the Fund’s inception, except for the period from May 1, 2020 through April 30, 2021. The current form of asset allocation table reflects the Investment Manager’s determination that the equity market is currently “expensive.” The “expensive” form of table may result in equity investment allocations as low as 10% or as high as 90% of Fund assets. The Investment Manager evaluates the appropriate form of asset allocation table and updates the S&P 500® Index trading range bands within the table at least annually. From May 1, 2020 through April 30, 2021, the form of asset allocation table in place for the Fund reflected the Investment Manager’s determination that the equity market was “normal.” With the “normal” form of table, the Fund’s equity investment allocations could be no less than 50% of Fund assets.
The Investment Manager chooses the Portfolio Funds to be generally consistent with the composition of the Fund’s primary stock and bond benchmarks and to allow the Fund to participate in strategies the Investment Manager believes can provide additional return due to active management.
The stock and bond Portfolio Funds that the Fund currently uses in its “fund-of-funds” structure, and the current target percentage for each Portfolio Fund within the stock or bond asset class, is set forth in the More Information – PIS section of the statutory prospectus for the Fund. The Investment Manager may substitute or add additional Portfolio Funds at any time, including funds introduced after the date of this prospectus.
See the Portfolio Funds Summary section of the Fund’s statutory prospectus for information about the Portfolio Funds’ investment objectives and principal investment strategies. Each of the Portfolio Funds is managed by the Investment Manager or its affiliates. The Fund does not pay any sales load on its purchases of shares of the Portfolio Funds.
The Investment Manager will conduct the market state review at least annually prior to the annual updating of this prospectus, and may, in its discretion, assess the market state on an “emergency” basis and make any changes deemed necessary to reflect, for example, a very significant move in market levels or a structural change affecting the markets.
Any such “emergency” changes by the Investment Manager, which are expected to be infrequent, would be disclosed in this prospectus.
COTZX - Performance
Return Ranking - Trailing
| Period | COTZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.9% | -12.5% | 37.5% | 42.68% |
| 1 Yr | 7.0% | -18.5% | 25.1% | 51.88% |
| 3 Yr | 2.9%* | -17.6% | 13.4% | 50.00% |
| 5 Yr | 8.6%* | -12.8% | 9.1% | 3.24% |
| 10 Yr | 6.2%* | -6.4% | 3.9% | 13.04% |
* Annualized
Return Ranking - Calendar
| Period | COTZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -15.6% | -46.5% | 0.1% | 36.82% |
| 2021 | -7.3% | -19.0% | 48.3% | 86.55% |
| 2020 | 21.0% | -16.5% | 52.8% | 8.93% |
| 2019 | 9.0% | -8.5% | 27.3% | 65.75% |
| 2018 | -5.4% | -29.6% | 1.6% | 15.27% |
Total Return Ranking - Trailing
| Period | COTZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.9% | -12.5% | 37.5% | 42.68% |
| 1 Yr | 7.0% | -18.5% | 25.3% | 51.88% |
| 3 Yr | 2.9%* | -14.6% | 18.5% | 50.00% |
| 5 Yr | 8.6%* | -11.2% | 11.3% | 3.24% |
| 10 Yr | 6.2%* | 0.3% | 9.1% | 13.04% |
* Annualized
Total Return Ranking - Calendar
| Period | COTZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -12.1% | -46.5% | 4.6% | 40.59% |
| 2021 | 6.4% | -10.6% | 48.3% | 80.25% |
| 2020 | 38.4% | -11.7% | 77.4% | 4.02% |
| 2019 | 15.1% | -3.9% | 28.2% | 46.58% |
| 2018 | 0.1% | -28.0% | 2.6% | 7.88% |
NAV & Total Return History
COTZX - Holdings
Concentration Analysis
| COTZX | Category Low | Category High | COTZX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.4 B | 1.86 M | 83.5 B | 14.05% |
| Number of Holdings | 12 | 2 | 3255 | 83.06% |
| Net Assets in Top 10 | 1.36 B | 349 K | 12.1 B | 12.40% |
| Weighting of Top 10 | 97.20% | 22.9% | 100.0% | 20.66% |
Top 10 Holdings
- Columbia US Treasury Index Fund 26.01%
- Columbia Total Return Bond Fun 18.60%
- Columbia Quality Income Fund 14.80%
- Columbia Corporate Income Fund 7.48%
- Columbia Diversified Fixed Income Allocation ETF 7.47%
- Columbia Large Cap Enhanced Core Fund 6.35%
- Columbia Contrarian Core Fund 6.34%
- Columbia Large Cap Index Fund 5.07%
- Columbia Research Enhanced Core ETF 2.55%
- Columbia Small Cap Index Fund 2.53%
Asset Allocation
| Weighting | Return Low | Return High | COTZX % Rank | |
|---|---|---|---|---|
| Stocks | 99.68% | 0.00% | 238.38% | 9.09% |
| Convertible Bonds | 0.47% | 0.00% | 8.92% | 28.93% |
| Cash | 0.32% | -65.52% | 88.88% | 90.91% |
| Preferred Stocks | 0.00% | 0.00% | 6.21% | 44.63% |
| Other | 0.00% | -72.87% | 73.78% | 51.24% |
| Bonds | 0.00% | 0.00% | 106.59% | 59.92% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | COTZX % Rank | |
|---|---|---|---|---|
| Technology | 24.29% | 0.00% | 85.77% | 12.75% |
| Healthcare | 13.83% | 0.00% | 38.63% | 29.90% |
| Financial Services | 13.57% | 0.00% | 98.22% | 31.37% |
| Consumer Cyclical | 11.57% | 0.00% | 25.83% | 16.18% |
| Industrials | 8.96% | 0.00% | 23.85% | 52.94% |
| Communication Services | 8.37% | 0.00% | 21.61% | 17.65% |
| Consumer Defense | 6.32% | 0.00% | 37.51% | 50.00% |
| Energy | 4.14% | 0.00% | 60.89% | 59.31% |
| Real Estate | 3.40% | 0.00% | 99.45% | 48.53% |
| Basic Materials | 3.00% | 0.00% | 56.73% | 58.33% |
| Utilities | 2.54% | 0.00% | 91.12% | 58.82% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | COTZX % Rank | |
|---|---|---|---|---|
| US | 99.68% | -1.19% | 235.84% | 8.68% |
| Non US | 0.00% | -6.82% | 98.11% | 50.83% |
COTZX - Expenses
Operational Fees
| COTZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.65% | 0.21% | 4.40% | 97.52% |
| Management Fee | 0.10% | 0.00% | 1.50% | 0.83% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 13.13% |
| Administrative Fee | 0.05% | 0.05% | 0.70% | 12.24% |
Sales Fees
| COTZX 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
| COTZX 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.
| COTZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 49.00% | 1.75% | 441.00% | 28.06% |
COTZX - Distributions
Dividend Yield Analysis
| COTZX | Category Low | Category High | COTZX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.36% | 0.00% | 12.46% | 11.20% |
Dividend Distribution Analysis
| COTZX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | SemiAnnual | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| COTZX | Category Low | Category High | COTZX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.52% | -2.01% | 13.72% | 23.97% |
Capital Gain Distribution Analysis
| COTZX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 21, 2022 | $0.319 | OrdinaryDividend |
| Jun 01, 2017 | $0.233 | OrdinaryDividend |
| Dec 22, 2016 | $0.062 | OrdinaryDividend |
| Dec 22, 2015 | $0.299 | OrdinaryDividend |
| Jun 05, 2013 | $0.009 | OrdinaryDividend |
| Dec 21, 2012 | $0.255 | OrdinaryDividend |
| Jun 06, 2012 | $0.017 | OrdinaryDividend |
| Dec 22, 2011 | $0.213 | OrdinaryDividend |
| Jun 08, 2011 | $0.156 | OrdinaryDividend |
| Dec 23, 2010 | $0.068 | OrdinaryDividend |
| Jun 10, 2010 | $0.160 | OrdinaryDividend |
| Jun 11, 2009 | $0.029 | OrdinaryDividend |
| Dec 24, 2008 | $0.235 | OrdinaryDividend |
| Jun 12, 2008 | $0.040 | OrdinaryDividend |
| Dec 24, 2007 | $0.506 | OrdinaryDividend |
| Jun 06, 2007 | $0.063 | OrdinaryDividend |
| Dec 26, 2006 | $0.495 | OrdinaryDividend |
| Jun 07, 2006 | $0.047 | OrdinaryDividend |
| Dec 28, 2004 | $0.289 | OrdinaryDividend |
| Dec 29, 2003 | $0.151 | OrdinaryDividend |
COTZX - Fund Manager Analysis
Managers
Anwiti Bahuguna
Start Date
Tenure
Tenure Rank
May 24, 2018
4.02
4.0%
Anwiti Bahuguna is a senior portfolio manager with the Global Asset Allocation Team at Columbia Threadneedle Investments. She is responsible for asset allocation research and portfolio management of the asset allocation funds and separately managed accounts. Dr. Bahuguna joined one of the Columbia Threadneedle Investments legacy firms in 2002. Previously, Dr. Bahuguna worked at Fleet in its corporate strategy and development group, where she provided investment banking analysis on transactions such as mergers and acquisitions in all types of financial services companies. Prior roles have also involved strategic planning for restructuring and positioning the corporation and its components for growth and expansion. She has been a member of the investment community since 1998. Dr. Bahuguna received a B.S. in economics and mathematics from St. Stephen’s College, Delhi University, and a Ph.D. in economics from Northeastern University.
Alex Rivas
Start Date
Tenure
Tenure Rank
May 01, 2022
0.08
0.1%
Mr. Rivas joined Columbia Management, an affiliate of the Investment Manager in 2017. Mr. Rivas has served as Assistant Vice President of the Investment Manager since February 2018. Prior to joining Columbia Management, Mr. Rivas was a trading specialist with Blackrock Advisors, LLC. Mr. Rivas began his investment career in 2009 and earned a B.S. from Georgia Institute of Technology and a Master’s degree in Finance from Princeton University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 33.83 | 6.7 | 13.0 |