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Name

As of 12/31/2024

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

Destinations Core Fixed Income Fund

DCFZX | Fund

$8.55

$2.09 B

4.85%

$0.42

0.73%

Vitals

YTD Return

0.0%

1 yr return

2.8%

3 Yr Avg Return

-2.2%

5 Yr Avg Return

-0.7%

Net Assets

$2.09 B

Holdings in Top 10

15.7%

52 WEEK LOW AND HIGH

$8.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.73%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 240.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/31/2024

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

Destinations Core Fixed Income Fund

DCFZX | Fund

$8.55

$2.09 B

4.85%

$0.42

0.73%

DCFZX - Profile

Distributions

  • YTD Total Return 0.0%
  • 3 Yr Annualized Total Return -2.2%
  • 5 Yr Annualized Total Return -0.7%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.36%
DIVIDENDS
  • Dividend Yield 4.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Destinations Core Fixed Income Fund
  • Fund Family Name
    Destinations Funds
  • Inception Date
    Mar 20, 2017
  • Shares Outstanding
    19085877
  • Share Class
    Z
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Amy Magnotta

Fund Description

The Fund will invest, under normal market conditions, at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in fixed income instruments. The Fund’s 80% policy is not fundamental and can be changed upon 60 days’ prior written notice to shareholders.
The Fund employs a “multi-manager” strategy whereby the Adviser allocates the Fund’s assets among professional money managers (each, a “Sub-adviser,” collectively, the “Sub-advisers”), each of which is responsible for investing its allocated
portion of the Fund’s assets. The Adviser may also invest a portion of the Fund’s assets in unaffiliated funds that are registered under the Investment Company Act of 1940, as amended (the “1940 Act”), and that have investment objectives and principal investment strategies consistent with those of the Fund, including open-end funds, closed-end funds and exchange traded funds (ETFs), which may be passively managed (i.e., index-tracking) or actively managed. ETFs may also be used to transition the Fund’s portfolio or to equitize cash while awaiting an opportunity to purchase securities directly. When determining how to allocate the Fund’s assets between unaffiliated funds and Sub-advisers, and among Sub-advisers, the Adviser considers a variety of factors.
The Fund invests primarily in bonds, debt, and other fixed income instruments issued by governmental or private-sector entities, including mortgage-backed securities, asset-backed securities, investment grade corporate bonds, junk bonds, bank loans, loan participations, assignments, derivatives, credit default swaps, inverse floater securities, interest-only and principal-only securities and money market instruments.
A Sub-adviser will select securities based on its assessment of one or more of a variety of factors. Under normal market conditions, the Fund’s total investment portfolio will have a weighted average effective duration of no less than one year and no more than ten years.
The Fund will invest a substantial portion of its nets assets in mortgage-backed securities of any maturity or type guaranteed by, or secured by collateral that is guaranteed by, the United States Government, its agencies, instrumentalities or sponsored corporations, or in privately issued mortgage-backed securities rated at the time of investment Aa3 or higher by Moody’s or AA- or higher by S&P or the equivalent by any other nationally recognized statistical rating organization or in unrated securities that are determined by a Sub-adviser to be of comparable quality.
The Fund will also invest in junk bonds, bank loans and assignments, privately issued residential and commercial mortgage-backed securities, and other instruments rated below investment grade or unrated but determined by the Sub-adviser to be of comparable quality, and may invest in credit default swaps of companies in the high yield universe.
A Sub-adviser may sell a security for a variety of reasons, such as where the Sub-adviser believes there is a better investment opportunity, when the portfolio managers perceive deterioration in the credit fundamentals of the issuer or when the portfolio managers believe it would be appropriate to do so in order to readjust duration of the Fund’s investment portfolio.
Due to its investment strategy, the Fund may buy and sell securities and other instruments frequently.
The Fund may also lend portfolio securities in an attempt to earn additional income. Any income realized through securities lending may help Fund performance.
Read More

DCFZX - Performance

Return Ranking - Trailing

Period DCFZX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -8.3% 9.4% 91.39%
1 Yr 2.8% -8.3% 9.7% 22.20%
3 Yr -2.2%* -11.0% 27.6% 39.94%
5 Yr -0.7%* -7.6% 58.2% 82.49%
10 Yr N/A* -3.1% 73.7% N/A

* Annualized

Return Ranking - Calendar

Period DCFZX Return Category Return Low Category Return High Rank in Category (%)
2024 -1.2% -16.2% 8.1% 76.22%
2023 1.8% -34.7% 131.9% 13.19%
2022 -15.9% -28.1% 1.1% 88.30%
2021 -4.9% -9.9% 946.1% 98.75%
2020 2.1% -2.3% 316.5% 93.70%

Total Return Ranking - Trailing

Period DCFZX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -8.3% 9.4% 91.39%
1 Yr 2.8% -8.3% 9.7% 22.20%
3 Yr -2.2%* -11.0% 27.6% 39.94%
5 Yr -0.7%* -7.6% 58.2% 82.49%
10 Yr N/A* -3.1% 73.7% N/A

* Annualized

Total Return Ranking - Calendar

Period DCFZX Return Category Return Low Category Return High Rank in Category (%)
2024 2.8% -11.3% 11.9% 81.52%
2023 5.5% -32.2% 131.9% 15.08%
2022 -13.9% -25.1% 5.7% 91.61%
2021 -1.2% -3.5% 1009.0% 90.31%
2020 4.8% 1.1% 21668.0% 96.31%

NAV & Total Return History

DCFZX - Holdings

Concentration Analysis

DCFZX Category Low Category High DCFZX % Rank
Net Assets 2.09 B 2.9 M 314 B 43.01%
Number of Holdings 2008 1 17880 20.56%
Net Assets in Top 10 309 M 1.59 M 35.1 B 54.62%
Weighting of Top 10 15.75% 4.7% 3984.6% 81.13%

Top 10 Holdings

  1. UNITED STATES TREASURY BOND 1.25000000 2.34%
  2. FUTURE CONTRACT ON US 10YR NOTE (CBT)DEC24 0.00000000 1.70%
  3. UNITED STATES TREASURY BOND 3.87500000 1.64%
  4. UNITED STATES TREASURY NOTE 3.50000000 1.56%
  5. ISHARES 20+ YEAR TREASURY BOND ETF CL USD INC 0.00000000 1.56%
  6. FUTURE CONTRACT ON US 2YR NOTE (CBT) DEC24 0.00000000 1.52%
  7. UNITED STATES TREASURY BOND 1.37500000 1.46%
  8. FNMA 30YR TBA 5.5% SEP 24 TO BE ANNOUNCED 5.50000000 1.46%
  9. FNMA 30YR TBA 6% SEP 24 TO BE ANNOUNCED 6.00000000 1.38%
  10. UNITED STATES TREASURY NOTE 2.62500000 1.13%

Asset Allocation

Weighting Return Low Return High DCFZX % Rank
Bonds 		97.56% 0.00% 9231.88% 38.55%
Other 		2.28% -27.25% 1695.17% 61.37%
Stocks 		2.06% 0.00% 99.98% 7.46%
Convertible Bonds 		1.79% 0.00% 7.93% 37.55%
Preferred Stocks 		0.00% 0.00% 72.34% 81.00%
Cash 		0.00% -54.51% 237.69% 97.40%

Stock Sector Breakdown

Weighting Return Low Return High DCFZX % Rank
Energy 		57.67% 0.00% 100.00% 28.40%
Communication Services 		39.95% 0.00% 100.00% 2.47%
Industrials 		2.38% 0.00% 48.31% 32.10%
Utilities 		0.00% 0.00% 100.00% 82.10%
Technology 		0.00% 0.00% 43.45% 79.63%
Real Estate 		0.00% 0.00% 99.26% 76.54%
Healthcare 		0.00% 0.00% 17.70% 78.40%
Financial Services 		0.00% 0.00% 100.00% 82.10%
Consumer Defense 		0.00% 0.00% 99.67% 79.01%
Consumer Cyclical 		0.00% 0.00% 100.00% 80.25%
Basic Materials 		0.00% 0.00% 100.00% 83.33%

Stock Geographic Breakdown

Weighting Return Low Return High DCFZX % Rank
US 		2.06% 0.00% 99.98% 7.48%
Non US 		0.00% 0.00% 88.46% 76.12%

Bond Sector Breakdown

Weighting Return Low Return High DCFZX % Rank
Securitized 		50.04% 0.00% 98.40% 12.76%
Corporate 		26.12% 0.00% 100.00% 64.64%
Government 		20.87% 0.00% 86.23% 60.56%
Derivative 		2.28% -6.56% 43.84% 3.63%
Municipal 		0.13% 0.00% 100.00% 65.27%
Cash & Equivalents 		0.00% 0.00% 237.69% 97.20%

Bond Geographic Breakdown

Weighting Return Low Return High DCFZX % Rank
US 		97.56% 0.00% 9042.62% 36.86%
Non US 		0.00% 0.00% 189.26% 82.66%

DCFZX - Expenses

Operational Fees

DCFZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.73% 0.01% 39.64% 45.77%
Management Fee 0.65% 0.00% 1.76% 98.43%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

DCFZX 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% 4.00% N/A

Trading Fees

DCFZX 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.

DCFZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 240.00% 2.00% 493.39% 76.46%

DCFZX - Distributions

Dividend Yield Analysis

DCFZX Category Low Category High DCFZX % Rank
Dividend Yield 4.85% 0.00% 10.11% 75.03%

Dividend Distribution Analysis

DCFZX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Quarterly

Net Income Ratio Analysis

DCFZX Category Low Category High DCFZX % Rank
Net Income Ratio 1.36% -1.28% 4.79% 71.74%

Capital Gain Distribution Analysis

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

Distributions History

View More +

DCFZX - Fund Manager Analysis

Managers

Amy Magnotta

Start Date

Tenure

Tenure Rank

Mar 20, 2017

5.2

5.2%

Amy Magnotta is the Co-head of Discretionary Portfolios at Brinker Capital Investments. In this role, she oversees the firm’s discretionary portfolio offerings and implementation of Brinker Capital’s asset allocation and manager selection decisions. Amy has primary portfolio management responsibilities for Brinker Capital’s mutual fund program, Destinations. She has over 20 years of industry experience. Prior to joining Brinker Capital Investments, Amy was a Consultant for Franklin Park Associates LLC, where she selected private equity investments for institutional clients. She also served in a fixed income product management and institutional client service role at BlackRock Inc. Amy graduated from Lehigh University with a Bachelor of Science in finance. She is a CFA® charterholder and a member of the CFA Institute and the CFA® Society of Philadelphia.

Jeffrey Gundlach

Start Date

Tenure

Tenure Rank

Mar 20, 2017

5.2

5.2%

Mr. Gundlach is CEO of DoubleLine. In 2011, he appeared on the cover of Barron's as "The New Bond King." In 2013, Institutional Investor named him "Money Manager of the Year." In 2012, 2015 and 2016, he was named one of "The Fifty Most Influential" in Bloomberg Markets. In 2017, he was inducted into the FIASI Fixed Income Hall of Fame. Mr. Gundlach is a summa cum laude graduate of Dartmouth College, with degrees in Mathematics and Philosophy.

Jeffrey Sherman

Start Date

Tenure

Tenure Rank

Mar 20, 2017

5.2

5.2%

As DoubleLine’s Deputy Chief Investment Officer, Jeffrey Sherman oversees and administers DoubleLine’s Investment Management sub-committee coordinating and implementing policies and processes across the investment teams. He also serves as lead portfolio manager for multi-sector and derivative-based strategies. He is a member of DoubleLine’s Executive Management and Fixed Income Asset Allocation Committees. Prior to joining DoubleLine in 2009, he was a Senior Vice President at TCW where he worked as a portfolio manager and quantitative analyst focused on fixed income and real-asset portfolios.

Leigh Lowman

Start Date

Tenure

Tenure Rank

Mar 20, 2017

5.2

5.2%

Leigh A. Lowman is an Investment Manager at Brinker Capital with portfolio management responsibilities for the Destinations program. Prior to joining Brinker Capital in 2015, Ms. Lowman was an outreach analyst for The Investment Fund for Foundations (TIFF) and a senior associate for Mondrian Investment Partners. Ms. Lowman was previously at Brinker Capital from 2004 to 2010 as an investment associate and operations analyst. Ms. Lowman has a B.A. in Economics from Wittenburg University.

Andrew Smock

Start Date

Tenure

Tenure Rank

Dec 16, 2020

1.45

1.5%

Andy joined Merganser in 2003. He serves as our Chief Executive Officer and Chief Investment Officer. In addition to overseeing our investment team, he is a portfolio manager for our longer-duration strategies. Earlier in his career at Merganser, Andy focused on researching and trading both residential and commercial mortgage backed securities. Andy holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society Boston.

Campe Goodman

Start Date

Tenure

Tenure Rank

Dec 16, 2020

1.45

1.5%

Campe Goodman, CFA, Senior Managing Director and Fixed Income Portfolio Manager of Wellington Management. Campe is a fixed income portfolio manager on the US Broad Market Team. Prior to joining Wellington Management in 2000, Campe spent four years at the Massachusetts Institute of Technology studying macroeconomics and finance in a doctoral program in economics. He received his AB in mathematics, magna cum laude, from Harvard College (1995). In addition, Campe holds the Chartered Financial Analyst designation.

Robert Burn

Start Date

Tenure

Tenure Rank

Dec 16, 2020

1.45

1.5%

Robert D. Burn, CFA, Managing Director and Fixed Income Portfolio Manager of Wellington Management, has been involved in portfolio management for the Fund since 2016 and has been involved in securities analysis for the Fund since 2012. Mr. Burn joined Wellington Management as an investment professional in 2007.

Todd Copenhaver

Start Date

Tenure

Tenure Rank

Dec 16, 2020

1.45

1.5%

Todd joined Merganser in 2013. He is the head of credit research and a portfolio manager for our longer-duration strategies. Since joining Merganser, Todd has led the effort to integrate many quantitative tools into everyday use on the investment team and throughout the organization. Prior to joining Merganser, Todd was a portfolio analyst at Galliard Capital Management. Todd holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society Boston.

Joseph Marvan

Start Date

Tenure

Tenure Rank

Dec 16, 2020

1.45

1.5%

Joseph F. Marvan, CFA, Senior Managing Director and Fixed Income Portfolio Manager of Wellington Management, has served as a portfolio manager of the Fund since 2012. Mr. Marvan joined Wellington Management as an investment professional in 2003. Joe is a fixed income portfolio manager and serves as chair of the US Broad Market Team. As chair, Joe is responsible for setting aggregate risk levels and investment strategy in Core Bond Plus, Core Bond, Intermediate Bond, and Long Bond portfolios. Prior to joining Wellington Management, Joe was a senior portfolio manager and head of US Fixed Income at State Street Global Advisors, working on a wide range of fixed income portfolios, including those concentrating on total return, mortgage-backed securities, non-dollar bonds, and investment grade credit (1996 – 2003). Prior to that, he worked at both The Boston Company and Shearson Lehman Brothers in Fixed Income Portfolio Management and Trading (1988 – 1996). Joe earned his MBA, magna cum laude, from Babson College (Olin, 2001) and his BS in finance from Ithaca College (1987). Additionally, Joe holds the Chartered Financial Analyst designation and is a member of the CFA Institute.

Tenure Analysis

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

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