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Trending ETFs

Name

As of 03/27/2024

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

$11.35

$17.4 M

0.00%

$0.00

2.60%

Vitals

YTD Return

0.4%

1 yr return

10.7%

3 Yr Avg Return

-11.1%

5 Yr Avg Return

N/A

Net Assets

$17.4 M

Holdings in Top 10

27.3%

52 WEEK LOW AND HIGH

$11.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.60%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$11.35

$17.4 M

0.00%

$0.00

2.60%

DGISX - Profile

Distributions

  • YTD Total Return 0.4%
  • 3 Yr Annualized Total Return -11.1%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -1.28%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Destra Granahan Small Cap Advantage Fund
  • Fund Family Name
    Destra
  • Inception Date
    Aug 08, 2019
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jeffrey Harrison

Fund Description

Under normal market conditions, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in securities of issuers with small market capitalizations (the “80% Policy”). The Fund considers issuers with small market capitalizations to be those that, at the time the Fund makes an investment, have market capitalizations that qualified them for inclusion in the Russell 2000® Growth Index in the last 36 months. Such definition will be applied at the time of investment and the Fund will not be required to sell a stock because a company has grown outside the market capitalization range of small capitalization stocks. The Russell 2000® Growth Index is a stock market index that measures the performance of approximately 2,000 small capitalization U.S. companies. The Fund may satisfy its 80% Policy by investing in securities of other open-end or closed-end investment companies, including exchange-traded funds (“ETFs”) that invest primarily in securities of the types in which the Fund may invest directly.

The Fund’s investments primarily consist of equity and equity-related securities, including, without limitation, exchange-traded and over-the-counter common and preferred stocks, U.S. dollar-denominated American Depositary Receipts (“ADRs”), warrants to acquire common stock, securities convertible into common stock and shares of other investment companies (including ETFs and real estate investment trusts (“REITs”)). The Fund’s investments may include investments in non-U.S. securities and securities issued by companies organized or headquartered in foreign countries and/or doing significant business outside of the United States.

The Fund’s sub-adviser, Granahan Investment Management, LLC (the “Sub-Adviser” or “GIM”), pursues the Fund’s investment objective by using in-depth, bottom-up, fundamental research and analysis to uncover what it believes are compelling investment opportunities in all areas of the U.S. small cap market.

In addition, the Sub-Adviser employs a proprietary “LifeCycle” investment program to assist it with diversifying the Fund’s holdings and seeking to mitigate portfolio risks. Pursuant to this program, each company in which the Sub-Adviser might invest is placed into one of three categories: (i) Core Growth, (ii) Pioneer, or (iii) Special Situation. Although the Sub-Adviser retains flexibility in selecting the LifeCycle category for each prospective investment, the

Sub-Adviser generally intends to allocate approximately 25 - 45% of the Fund’s assets to Pioneers; 20 - 35% of the Fund’s assets to Core Growth; and 30 - 45% to Special Situations. The general characteristics of each category are described below.

Pioneers. Pioneers are companies that the Sub-Adviser believes are creating new markets or disrupting established industries. Pioneer companies frequently do not have earnings at the time of the Sub-Adviser’s investment. The Fund’s investments in pioneer companies may be concentrated in businesses operating in the biotechnology, medical technology and information technology sectors. The Fund’s investments in companies in the biotechnology, medical technology and information technology sectors are subject to substantial risks, which are described in “Health Care Sector Risk” and “Information Technology and Technology-Related Sectors Risk” below.
Core Growth. Core growth companies are generally those that the Sub-Adviser believes have solid records of growth, recurring revenues and good visibility on earnings.
Special Situations. Special situation companies are typically those that have unimpressive histories and new dynamics that could drive earnings growth. The Fund’s investments in special situation companies may be concentrated in industrial and cyclical growth companies.

The Sub-Adviser believes that each of these LifeCycle categories has distinct performance drivers and that investing in companies in each category provides diversity in the Fund’s portfolio. Once the Sub-Adviser has classified a prospective Fund investment, it focuses on stock selection as the primary means to add value for the Fund. The Sub-Adviser aims to select investments across the three LifeCycle categories that are market leaders (or are taking market share) and exhibit potential for strong and/or accelerating growth. The Sub-Adviser uses an investment management approach whereby portfolio managers with distinct expertise manage portions of the Fund’s portfolio that relate to such expertise. The Sub-Adviser believes that this approach mitigates some of the volatility of a sole-managed portfolio and allows for direct accountability for results of the Fund by each portfolio manager.

The Fund is actively-managed and, accordingly, it may have a high portfolio turnover rate. A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. The Fund is classified as “diversified” under the Investment Company Act of 1940, as amended (the “1940 Act”).

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DGISX - Performance

Return Ranking - Trailing

Period DGISX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.4% -2.7% 19.7% 98.95%
1 Yr 10.7% -0.7% 53.5% 94.74%
3 Yr -11.1%* -21.1% 62.1% 96.77%
5 Yr N/A* -3.0% 46.3% N/A
10 Yr N/A* 1.5% 24.5% N/A

* Annualized

Return Ranking - Calendar

Period DGISX Return Category Return Low Category Return High Rank in Category (%)
2023 11.5% -20.5% 54.6% 69.41%
2022 -34.8% -82.1% 32.2% 71.45%
2021 -9.4% -90.6% 300.1% 53.67%
2020 63.8% -63.0% 127.9% 2.41%
2019 N/A -7.7% 42.9% N/A

Total Return Ranking - Trailing

Period DGISX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.4% -2.7% 19.7% 98.95%
1 Yr 10.7% -0.7% 53.5% 94.74%
3 Yr -11.1%* -21.1% 62.1% 96.77%
5 Yr N/A* -3.0% 46.3% N/A
10 Yr N/A* 1.5% 24.5% N/A

* Annualized

Total Return Ranking - Calendar

Period DGISX Return Category Return Low Category Return High Rank in Category (%)
2023 11.5% -19.0% 136.8% 80.24%
2022 -34.8% -59.9% 44.3% 80.32%
2021 -0.1% -22.7% 411.9% 86.05%
2020 64.1% 1.5% 150.8% 10.56%
2019 N/A 5.5% 55.3% N/A

NAV & Total Return History


DGISX - Holdings

Concentration Analysis

DGISX Category Low Category High DGISX % Rank
Net Assets 17.4 M 183 K 28.5 B 95.34%
Number of Holdings 79 7 1188 66.67%
Net Assets in Top 10 4.76 M 57.4 K 2.83 B 95.85%
Weighting of Top 10 27.27% 7.1% 100.1% 34.26%

Top 10 Holdings

  1. Sprout Social, Inc. 3.74%
  2. Axon Enterprise, Inc. 3.32%
  3. Genius Sports, Ltd. 3.25%
  4. Repligen Corp. 2.58%
  5. WillScot Mobile Mini Holdings Corp. 2.53%
  6. Zeta Global Holdings Corp., Class A 2.49%
  7. Evolent Health, Inc., Class A 2.41%
  8. Casella Waste Systems, Inc., Class A 2.33%
  9. Texas Capital Bancshares, Inc. 2.31%
  10. CoStar Group, Inc. 2.30%

Asset Allocation

Weighting Return Low Return High DGISX % Rank
Stocks
98.55% 77.88% 108.99% 37.48%
Cash
1.45% 0.00% 27.66% 60.62%
Other
0.00% -0.22% 5.89% 31.95%
Preferred Stocks
0.00% 0.00% 4.08% 30.57%
Convertible Bonds
0.00% 0.00% 1.57% 22.97%
Bonds
0.00% 0.00% 3.22% 22.45%

Stock Sector Breakdown

Weighting Return Low Return High DGISX % Rank
Healthcare
30.15% 0.00% 47.90% 8.64%
Technology
27.90% 2.91% 75.51% 28.32%
Industrials
16.07% 0.00% 36.64% 62.35%
Consumer Cyclical
12.47% 0.00% 24.04% 46.46%
Real Estate
5.27% 0.00% 15.31% 19.00%
Communication Services
2.67% 0.00% 15.31% 43.70%
Financial Services
2.22% 0.00% 42.95% 92.57%
Consumer Defense
2.04% 0.00% 13.56% 83.07%
Basic Materials
1.23% 0.00% 9.24% 72.19%
Utilities
0.00% 0.00% 5.57% 46.46%
Energy
0.00% 0.00% 55.49% 79.79%

Stock Geographic Breakdown

Weighting Return Low Return High DGISX % Rank
US
98.55% 30.27% 102.09% 34.02%
Non US
0.00% 0.00% 61.74% 41.28%

DGISX - Expenses

Operational Fees

DGISX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.60% 0.05% 23.20% 2.60%
Management Fee 0.95% 0.05% 1.62% 83.22%
12b-1 Fee 0.00% 0.00% 1.00% 4.09%
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

DGISX 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% 5.00% N/A

Trading Fees

DGISX 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.

DGISX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 3.00% 439.00% 69.32%

DGISX - Distributions

Dividend Yield Analysis

DGISX Category Low Category High DGISX % Rank
Dividend Yield 0.00% 0.00% 7.17% 36.44%

Dividend Distribution Analysis

DGISX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually SemiAnnual Annual

Net Income Ratio Analysis

DGISX Category Low Category High DGISX % Rank
Net Income Ratio -1.28% -2.47% 1.10% 85.64%

Capital Gain Distribution Analysis

DGISX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Monthly Annually

Distributions History

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DGISX - Fund Manager Analysis

Managers

Jeffrey Harrison


Start Date

Tenure

Tenure Rank

Aug 07, 2019

2.82

2.8%

Jeff Harrison is a Senior Vice President and Managing Director of the firm. Jeff is a portfolio manager/analyst for the multi-managed Small Cap and SMID-Cap portfolios. Jeff came to GIM in 2015 with 18 years industry experience specializing in small cap equities, with the last 11 years as a portfolio manager. Jeff has spent much of his career as portfolio manager on a diversified small cap growth equity fund with Wells Capital Management and its predecessor companies in Richmond, VA. Jeff has extensive fundamental research experience across industries with specific expertise in the healthcare and financial services sectors. Jeff received his MBA in Finance from the College of William & Mary, and his BA from Hampden-Sydney College in Virginia. He holds the Chartered Financial Analyst designation and is a member of the CFA Institute.

Andrew Beja


Start Date

Tenure

Tenure Rank

Aug 07, 2019

2.82

2.8%

Andrew Beja, CFA, is a Senior Vice President and Managing Director of GIM. Mr. Beja is the Portfolio Manager of the GIM Small Cap Focused Growth strategy, and he also manages a portion of the multi-managed portfolios. He joined Granahan Investment Management at the end of 2011 as a Portfolio Manager. From 2000 to 2011, Drew was with Lee Munder Capital Group in Boston, a firm he co-founded and where he managed several small and SMID cap growth equity products. In 2007, he started the Focused Growth strategy that he continues to manage at Granahan. Prior to Lee Munder, Drew was a portfolio manager with Standish, Ayer & Wood. Before moving to the buy-side, Drew was an equities analyst for Advest. Beja holds the Chartered Financial Analyst designation. He holds a BA from Miami University (Ohio) and was named fourth on the Barron’s/Value Line list of Top Fund Managers in July 2000.

David Rose


Start Date

Tenure

Tenure Rank

Aug 07, 2019

2.82

2.8%

David Rose joined GIM in January 2015 and is a Vice President of the firm. David has over 17 years industry experience, including as a portfolio manager for several highly ranked equity funds. At GIM, he is a portfolio manager for the multi-managed Small Cap and SMID-Cap portfolios, and a global equity analyst. Prior to joining GIM, most recently David was a partner with Furey Research Partners in Boston, where he conducted small cap equity research for use by the firm’s investment manager clients. Prior to his work at Furey Research, David spent much of his career as a portfolio manager with American Century Investments in Kansas City, MO, before moving to Pyramis Global Advisors in Smithfield, RI to manage a new mid-cap fund. David received his MS in Finance from the University of Wisconsin at Madison, and his BS in Business Administration from Washington University in St. Louis, MO. He holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the Boston Security Analysts Society.

Jennifer Pawloski


Start Date

Tenure

Tenure Rank

Aug 07, 2019

2.82

2.8%

Jennifer Pawloski is a Senior Vice President, Financial Officer and Managing Director of GIM. Jennifer’s research has an emphasis in the Technology sector, and she is a portfolio manager for the multi-managed Small Cap and SMID-Cap portfolios. Prior to joining Granahan in 2007, Jennifer was the Director of Equity Research for Longwood Investment Advisors in Boston. Jennifer also worked with the Boston Company as a Vice President. Jennifer received her BS from Bentley College.

Richard Watson


Start Date

Tenure

Tenure Rank

Dec 20, 2021

0.44

0.4%

Rich Watson is a Senior Vice President and portfolio manager at Granahan Investment Management. Rich joined GIM in April 2021, bringing with him 30 years of experience in the healthcare sector, with expertise in biotech and life sciences. Most recently, Rich was a senior portfolio manager and healthcare analyst at Columbia Wanger Asset Management in Chicago. Prior experience includes work as a health care analyst at William Blair & Company and Cowen. Rich also worked several years in the pharmaceutical industry. Rich earned a BS-Biochemistry/Biophysics from State University of New York and his MBA-Finance from DePaul University. Rich 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 30.44 9.04 5.25