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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$9.51

$3.25 B

2.43%

$0.23

0.45%

Vitals

YTD Return

2.1%

1 yr return

-8.4%

3 Yr Avg Return

-3.9%

5 Yr Avg Return

-1.7%

Net Assets

$3.25 B

Holdings in Top 10

15.5%

52 WEEK LOW AND HIGH

$9.5
$9.10
$10.37

Expenses

OPERATING FEES

Expense Ratio 0.45%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 49.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$9.51

$3.25 B

2.43%

$0.23

0.45%

CRANX - Profile

Distributions

  • YTD Total Return 2.1%
  • 3 Yr Annualized Total Return -3.9%
  • 5 Yr Annualized Total Return -1.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.60%
DIVIDENDS
  • Dividend Yield 2.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    CCM Community Impact Bond Fund
  • Fund Family Name
    Community Capital Management
  • Inception Date
    Mar 02, 2007
  • Shares Outstanding
    192076550
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Julie Egan

Fund Description

The Fund will invest, under normal circumstances, at least 80% of its net assets in bonds, which include debt securities and other debt instruments, that meet the Fund’s impact criteria, as determined by impact methodology of the Advisor. The Fund will invest primarily in securities issued or guaranteed as to principal and interest by the U.S. government or by its agencies, instrumentalities or sponsored enterprises (“U.S. Government Securities”) and a significant amount of its assets will be invested in single-family, multi-family and economic development loan-backed securities. As a result, the Fund will invest a significant amount of its assets in securities issued by the Federal National Mortgage Association (“Fannie Mae”), Federal Home Loan Mortgage Corporation (“Freddie Mac”), and Government National Mortgage Association (“Ginnie Mae”). The Fund may also invest in certain securities issued by the Small Business Administration.

The Fund may invest a significant amount of its assets in taxable and tax-exempt municipal bonds that finance community projects whose primary purpose, in the Advisor’s view, is a positive impact to the community in which the project is located. The Fund may also invest in asset-backed securities, which are securities backed by mortgages, installment contracts, credit card receivables, or other financial assets which may include auto, solar and consumer loans. In addition, the Fund may invest in investment grade corporate debt securities (corporate bonds, debentures, notes and similar corporate debt instruments).

The Advisor considers certain of the Fund’s investments to meet community, sustainable and impactful investment criteria, including investments that invest in specific geographic regions or meet the following targeted impact themes: affordable health and rehabilitation care; affordable housing; arts, culture and the creative economy; disaster recovery, resilience and remediation; economic inclusion; education and childcare; enterprise development and jobs; environmental sustainability; gender lens; healthy communities; human

empowerment; minority advancement; neighborhood revitalization; poverty alleviation; rural community development; seniors, veterans and the disabled; sustainable agriculture; and transit-oriented development (each, an “Impact Theme” and collectively, “Impact Themes”). The Advisor researches the use of proceeds of each bond invested in by the Fund utilizing both quantitative metrics and qualitative details to measure the impact achieved. The Advisor takes into account both impact investing and the Fund’s returns. See “CRA Qualifying Investments Strategy Risk” and “Impact Investing Risk” below for additional information.

The Fund will invest primarily (at least 51% of its net assets) in debt securities and other debt instruments that the Advisor believes will be deemed to be qualified under the Community Reinvestment Act of 1977 (“CRA”), so that financial institutions that are subject to the CRA may receive investment test or similar consideration/credit under the CRA with respect to shares of the Fund held by them. The CRA is intended to encourage depository institutions to help meet credit needs of their entire communities, including low- and moderate-income neighborhoods, and CRA regulators encourage financial institutions to make sustainable, responsible and impactful investments. Such financial institutions are considered Fund investors subject to the CRA. The Fund will provide shareholders at least 60 days’ notice prior to a change in this policy. Not all of the investors in the Fund are subject to CRA requirements but may be seeking exposure to specific geographic regions or Impact Themes. Investors that are not subject to CRA requirements do not receive CRA credit for their investments.

The Fund will invest primarily in (1) U.S. government securities and (2) other securities that have a rating at the time of purchase in the highest category assigned by a nationally recognized statistical rating organization (“Rating Agency”), for example AAA by S&P Global Ratings and/or Aaa by Moody’s Investors Service, Inc., or which are deemed by the Advisor to be of comparable quality to securities so rated, or which are credit-enhanced by one or more entities with one of the above credit ratings.

The Fund may invest up to 40% of its net assets in investment grade securities that are rated in the second or third highest rating categories by at least one Rating Agency at the time of purchase, or which are deemed by the Advisor to be of comparable quality to securities so rated, or which are credit-enhanced by one or more entities with one of the above credit ratings. U.S. government securities are not subject to the foregoing 40% limitation.

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CRANX - Performance

Return Ranking - Trailing

Period CRANX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -50.1% 8.3% 85.94%
1 Yr -8.4% -29.7% 144.9% 6.63%
3 Yr -3.9%* -13.0% 105.3% 20.93%
5 Yr -1.7%* -9.6% 55.7% 34.31%
10 Yr -1.5%* -7.2% 12.7% 51.42%

* Annualized

Return Ranking - Calendar

Period CRANX Return Category Return Low Category Return High Rank in Category (%)
2022 -11.5% -75.2% 1360.6% 6.50%
2021 -1.4% -14.5% 1027.9% 33.40%
2020 0.7% -9.6% 118.7% 84.71%
2019 0.7% -11.4% 5.8% 89.30%
2018 -0.4% -49.5% 12.4% 14.83%

Total Return Ranking - Trailing

Period CRANX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -50.1% 8.3% 86.21%
1 Yr -8.4% -29.7% 144.9% 6.63%
3 Yr -3.9%* -13.0% 105.3% 21.03%
5 Yr -1.1%* -9.6% 55.7% 20.58%
10 Yr 0.1%* -7.2% 13.4% 19.30%

* Annualized

Total Return Ranking - Calendar

Period CRANX Return Category Return Low Category Return High Rank in Category (%)
2022 -11.5% -75.2% 131.9% 6.50%
2021 -1.4% -14.5% 1027.9% 33.40%
2020 0.7% -9.6% 118.7% 84.71%
2019 0.9% -11.4% 5.8% 86.36%
2018 0.1% -7.0% 12.4% 5.73%

NAV & Total Return History


CRANX - Holdings

Concentration Analysis

CRANX Category Low Category High CRANX % Rank
Net Assets 3.25 B 1.19 M 287 B 30.83%
Number of Holdings 1876 1 17234 17.89%
Net Assets in Top 10 539 M -106 M 27.6 B 36.31%
Weighting of Top 10 15.45% 3.7% 100.0% 81.38%

Top 10 Holdings

  1. First American Government Obligs X 4.88%
  2. United States Treasury Notes 1.875% 1.92%
  3. Federal Home Loan Banks 2.38% 1.60%
  4. Bank of America Corporation 3.5% 1.56%
  5. United States Treasury Notes 1.875% 1.56%
  6. United States Treasury Notes 0.38% 1.40%
  7. United States Treasury Notes 1.75% 1.30%
  8. United States Treasury Notes 0.625% 1.26%
  9. United States Treasury Notes 1.375% 1.23%
  10. United States Treasury Notes 0.38% 1.23%

Asset Allocation

Weighting Return Low Return High CRANX % Rank
Bonds
92.69% 3.97% 268.18% 72.46%
Cash
7.30% -181.13% 95.99% 21.23%
Stocks
0.00% -0.98% 24.74% 46.53%
Preferred Stocks
0.00% 0.00% 77.13% 50.05%
Other
0.00% -13.23% 23.06% 29.45%
Convertible Bonds
0.00% 0.00% 10.39% 89.43%

Bond Sector Breakdown

Weighting Return Low Return High CRANX % Rank
Securitized
56.91% 0.00% 98.79% 9.49%
Corporate
13.73% 0.00% 100.00% 89.52%
Government
11.07% 0.00% 86.23% 81.57%
Municipal
10.91% 0.00% 100.00% 4.88%
Cash & Equivalents
7.37% 0.00% 95.99% 31.26%
Derivative
0.00% 0.00% 25.16% 50.23%

Bond Geographic Breakdown

Weighting Return Low Return High CRANX % Rank
US
92.53% 3.63% 210.09% 21.05%
Non US
0.16% -6.54% 58.09% 94.58%

CRANX - Expenses

Operational Fees

CRANX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.45% 0.01% 2.93% 67.15%
Management Fee 0.30% 0.00% 1.76% 28.11%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% 32.81%

Sales Fees

CRANX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

CRANX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

CRANX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 49.00% 2.00% 493.39% 17.67%

CRANX - Distributions

Dividend Yield Analysis

CRANX Category Low Category High CRANX % Rank
Dividend Yield 2.43% 0.00% 30.65% 74.60%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

CRANX Category Low Category High CRANX % Rank
Net Income Ratio 1.60% -1.28% 8.97% 55.81%

Capital Gain Distribution Analysis

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

Distributions History

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CRANX - Fund Manager Analysis

Managers

Julie Egan


Start Date

Tenure

Tenure Rank

Dec 31, 2009

12.42

12.4%

As director of municipal research and a portfolio manager, Julie is responsible for overseeing and performing municipal credit analysis and research. As part of the portfolio management team, Julie assists in the analysis of primary and secondary issues on behalf of clients. Julie is a member of the firm’s Investment Management and Trading Committee. Julie joined CCM from Evergreen Asset Management Corporation, Wachovia’s asset management arm and currently Wells Cap, where she was a director and senior municipal research Analyst. Prior to Evergreen, she was a senior municipal research analyst for John Nuveen & Company, Inc. in Chicago with earlier experience including stints at Banc One Investment Advisors, Nationwide Life Insurance Company and National City Bank. Julie was elected to Smith’s Research & Grading 2018 All-Star Team winning first team and 2017 All-Star Team winning second team in the Housing Bond category. She has been a consistent nominee for Smith’s All-Star Team since 2008. Julie serves on the Board of the National Federation of Municipal Analysts, chairing the Board in 2017. She previously served as President for the Southern Municipal Finance Society from 2008 to 2010 and 2012. Julie received her B.B.A. in Finance from Kent State University and an M.B.A from Case Western Reserve University. She holds FINRA licenses: Series 6 & 63. Julie received her B.B.A. in Finance from Kent State University and an M.B.A from Case Western Reserve University. She holds FINRA licenses: Series 6 & 63.

Elliot Gilfarb


Start Date

Tenure

Tenure Rank

Oct 01, 2012

9.67

9.7%

As Head of Fixed Income, Elliot oversees the fixed income side of the firm’s portfolio and is responsible for portfolio management, research, and trading, as well as managing the fixed income investment team. He works closely with the chief investment officer on setting strategic asset allocation, security selection, and yield curve positioning for the Firm’s mutual funds, separately managed accounts, and private funds. Elliot oversees the investment team’s portfolio analytics capabilities, including attribution and holdings analytics, and client reporting. He also works closely with credit research and investment analysts on credit and financial analysis prior to making any buy/sell decisions. Elliot serves as Chair of the firm’s Investment Management and Trading Committee and is a member of the firm’s Valuation Committee. Elliot joined CCM from Morgan Stanley where he worked as a financial advisor. He is a member of the CFA Society of South Florida and has been an integral part of the investment team at CCM since 2006 helping to manage and grow assets to more than $2 billion. Elliot received his B.S. in Finance from the University of Florida and is a CFA Charterholder. He holds FINRA licenses: Series 7, 63 & 66.

Andy Kaufman


Start Date

Tenure

Tenure Rank

Oct 30, 2015

6.59

6.6%

As CIO, Andy oversees the portfolio management team and is responsible for overall strategy formulation for the firm’s portfolios. Additionally, he is responsible for all portfolio analysis including asset allocation, rebalancing, and fundamental research for the firm’s mutual funds, separately managed accounts, and private funds. Andy also oversees the portfolio management team’s fundamental economic analysis, cash flow modeling, and returns forecasts. He is a member of the Investment Management and Trading Committee and the Compliance Committee. Andy began his career at BlackRock Financial Management in New York City where he spent the majority of his ten years as a fixed income portfolio manager. He joined as an alternative investment portfolio analyst in the portfolio risk and quantitative analysis group focusing on the firm’s hedge funds, commercial mortgage REIT, private equity, and CDO businesses. He quickly advanced to BlackRock’s portfolio management group responsible for managing $200 billion in multi-sector relative value separate account portfolios. He also headed the fundamental fixed income Canadian dollar separate account business and was a member of BlackRock’s investment strategy group. Andy left BlackRock to relocate to sunny south Florida where he was recruited to join Mercantil Commercebank as a portfolio manager responsible for managing the bank’s $1.75 billion residential mortgage-backed securities portfolio consisting of agency pass-throughs, CMOs, hybrid arms, and HECMs. While there, he built the bank’s $450 million CMBS investment platform inclusive of research, analytics, and security selection. Andy currently serves on the Pennsylvania State University Sustainability board and the UN-PRI Macro Risk Advisory Group. Andy received his B.S. in Finance, with distinction, from Pennsylvania State University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.77 1.16