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Trending ETFs

Name

As of 03/26/2024

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

$9.62

$413 M

3.63%

$0.35

0.80%

Vitals

YTD Return

2.1%

1 yr return

8.9%

3 Yr Avg Return

4.1%

5 Yr Avg Return

3.8%

Net Assets

$413 M

Holdings in Top 10

28.8%

52 WEEK LOW AND HIGH

$9.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.80%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 107.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

$9.62

$413 M

3.63%

$0.35

0.80%

DLDZX - Profile

Distributions

  • YTD Total Return 2.1%
  • 3 Yr Annualized Total Return 4.1%
  • 5 Yr Annualized Total Return 3.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.28%
DIVIDENDS
  • Dividend Yield 3.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Destinations Low Duration Fixed Income Fund
  • Fund Family Name
    Destinations Funds
  • Inception Date
    Mar 20, 2017
  • Shares Outstanding
    N/A
  • Share Class
    Z
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Luz Padilla

Fund Description

The Fund will invest, under normal market conditions, at least 80% of its total assets (plus the amount of any borrowings for investment purposes) in a diversified portfolio of fixed income securities. The Fund will normally be constructed with an average duration of three years or less. The Fund’s 80% policy is not fundamental and can be changed upon 60 days’ prior 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 primarily invests in bonds, debt, fixed income and income-producing instruments issued by governmental or private-sector entities, including mortgage-backed securities, asset-backed securities, junk bonds, corporate debt, foreign securities (including emerging markets), inflation-indexed bonds, bank loans and assignments, collateralized loan obligations, preferred securities, and special purpose acquisition companies (SPACs). Sub-advisers employing an actively managed strategy will select securities based on its assessment of one or more of a variety of factors.

The Fund may invest some of its assets in securities that have not been called or tendered having a maturity date in excess of three years. The Fund will also invest in fixed income and other income-producing instruments rated below investment grade and those that are unrated but determined by the Fund’s Sub-advisers to be of comparable credit quality.

The Fund may invest in mortgage-backed securities issued by companies operated or managed by a Sub-adviser or its affiliates and in other investment companies or private investment vehicles managed by a Sub-adviser, subject to limitations imposed by applicable law.

The Fund may enter into derivatives transactions and other instruments of any kind for hedging purposes or otherwise to gain or reduce long or short exposure to one or more asset classes or issuers.

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, there is a deterioration in the credit fundamentals of the issuer or the individual security has reached the sell target.

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.

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DLDZX - Performance

Return Ranking - Trailing

Period DLDZX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -1.8% 9.2% 4.16%
1 Yr 8.9% -0.2% 24.4% 2.54%
3 Yr 4.1%* -5.9% 4.1% 0.19%
5 Yr 3.8%* -3.8% 4.4% 1.79%
10 Yr N/A* -19.2% 169.7% N/A

* Annualized

Return Ranking - Calendar

Period DLDZX Return Category Return Low Category Return High Rank in Category (%)
2023 2.3% -5.4% 7.6% 40.11%
2022 -6.7% -17.7% -2.6% 38.08%
2021 1.7% -4.0% 4.4% 1.91%
2020 -2.4% -8.3% 7.6% 98.63%
2019 0.2% -2.3% 9.3% 98.59%

Total Return Ranking - Trailing

Period DLDZX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -1.8% 9.2% 4.16%
1 Yr 8.9% -0.2% 24.4% 2.54%
3 Yr 4.1%* -5.9% 4.1% 0.19%
5 Yr 3.8%* -3.8% 4.4% 1.79%
10 Yr N/A* -19.2% 169.7% N/A

* Annualized

Total Return Ranking - Calendar

Period DLDZX Return Category Return Low Category Return High Rank in Category (%)
2023 8.4% -1.1% 15.2% 2.72%
2022 -1.3% -17.3% -1.3% 0.18%
2021 5.9% -2.7% 7.7% 1.15%
2020 1.5% -4.4% 14.5% 97.85%
2019 3.8% 0.6% 12.6% 81.65%

NAV & Total Return History


DLDZX - Holdings

Concentration Analysis

DLDZX Category Low Category High DLDZX % Rank
Net Assets 413 M 14.1 K 58.8 B 68.58%
Number of Holdings 407 2 9721 49.01%
Net Assets in Top 10 117 M 1.16 M 6.6 B 68.22%
Weighting of Top 10 28.75% 1.8% 108.7% 41.29%

Top 10 Holdings

  1. ISHARES CORE 1-5 YEAR USD BOND ETF 0.00000000 11.31%
  2. CANNABIST CO HLDGS INC REGD 9.50000000 2.85%
  3. AMC NETWORKS INC REGD 5.00000000 2.20%
  4. STONEX GROUP INC REGD 144A P/P 8.62500000 1.87%
  5. T/L CENGAGE LEARNING INC.REGD 0.00000000 1.81%
  6. INNOVATE CORP REGD 144A P/P 8.50000000 1.80%
  7. CLEAR CHANNEL INTL BV REGD 144A P/P 6.62500000 1.78%
  8. LEAFLY HOLDINGS INC REGD 144A CONVERTIBLE 8.00000000 1.77%
  9. OPNET SPA /EUR/ REGD V/R 144A P/P 10.97200000 1.69%
  10. UNITED STATES TREASURY NOTE 3.12500000 1.67%

Asset Allocation

Weighting Return Low Return High DLDZX % Rank
Bonds
83.17% 0.00% 130.68% 64.99%
Stocks
11.52% 0.00% 103.64% 8.44%
Cash
4.45% -20.59% 62.18% 26.57%
Convertible Bonds
2.79% 0.00% 27.71% 45.50%
Preferred Stocks
1.00% 0.00% 21.82% 1.80%
Other
-0.15% -0.97% 72.36% 98.74%

Stock Sector Breakdown

Weighting Return Low Return High DLDZX % Rank
Financial Services
99.43% 0.00% 100.00% 9.38%
Energy
0.36% 0.00% 100.00% 67.19%
Healthcare
0.21% 0.00% 23.11% 20.31%
Utilities
0.00% 0.00% 81.48% 31.25%
Technology
0.00% 0.00% 24.45% 31.25%
Real Estate
0.00% 0.00% 8.31% 34.38%
Industrials
0.00% 0.00% 100.00% 35.94%
Communication Services
0.00% 0.00% 65.64% 43.75%
Consumer Defense
0.00% 0.00% 21.37% 25.00%
Consumer Cyclical
0.00% 0.00% 10.75% 29.69%
Basic Materials
0.00% 0.00% 22.71% 26.56%

Stock Geographic Breakdown

Weighting Return Low Return High DLDZX % Rank
US
11.52% 0.00% 103.64% 8.44%
Non US
0.00% 0.00% 0.02% 6.82%

Bond Sector Breakdown

Weighting Return Low Return High DLDZX % Rank
Corporate
52.32% 0.00% 100.00% 27.70%
Securitized
9.70% 0.00% 97.27% 86.15%
Government
5.24% 0.00% 73.63% 81.83%
Cash & Equivalents
1.75% 0.00% 62.18% 52.24%
Municipal
0.00% 0.00% 17.46% 55.94%
Derivative
-0.15% -0.55% 24.84% 92.82%

Bond Geographic Breakdown

Weighting Return Low Return High DLDZX % Rank
US
74.85% 0.00% 130.68% 73.61%
Non US
8.32% 0.00% 83.16% 7.00%

DLDZX - Expenses

Operational Fees

DLDZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.80% 0.01% 3.24% 38.59%
Management Fee 0.70% 0.00% 1.19% 96.23%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

DLDZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.50% 4.00% N/A

Trading Fees

DLDZX 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.

DLDZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 107.00% 2.00% 500.00% 67.15%

DLDZX - Distributions

Dividend Yield Analysis

DLDZX Category Low Category High DLDZX % Rank
Dividend Yield 3.63% 0.00% 10.34% 1.80%

Dividend Distribution Analysis

DLDZX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

DLDZX Category Low Category High DLDZX % Rank
Net Income Ratio 3.28% -1.27% 4.98% 1.47%

Capital Gain Distribution Analysis

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

Distributions History

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DLDZX - Fund Manager Analysis

Managers

Luz Padilla


Start Date

Tenure

Tenure Rank

Mar 20, 2017

5.2

5.2%

Ms. Padilla joined DoubleLine in 2009 as the Director of the Emerging Markets Group and is the lead Portfolio Manager. Prior to DoubleLine, she was a Managing Director at TCW. She began working at TCW in 1994, where she had served in a number of roles of increasing responsibility with the group, including Credit Analyst, Director of Research, Co-Portfolio Manager since December 2001, and lead Portfolio Manager since October 2006. She was involved in all aspects of building and managing TCW's Emerging Markets Fixed Income business including credit, securitization, trading and marketing. Ms. Padilla attended University of California at Berkeley as a fellow of the Robert A. Toigo Foundation and graduated with an MBA in 1994. Ms. Padilla received her BA in Economics in 1989 from Stanford University in Palo Alto, California.

David Sherman


Start Date

Tenure

Tenure Rank

Mar 20, 2017

5.2

5.2%

David K. Sherman is the portfolio manager for RiverPark Short Term and RiverPark Strategic Income. Mr. Sherman, is the managing member of Cohanzick. Since 1996, Mr. Sherman, on behalf of Cohanzick Management, LLC , has managed accounts for various clients utilizing investment programs substantially similar to those intended to be used by the Fund. From January 1987 to August 1996, Mr. Sherman held various executive and director positions at Leucadia National Corporation and/or its subsidiaries. From August 1992 to August 1996, Mr. Sherman served as a Vice President of Leucadia with primary responsibility for the oversight of Leucadia's insurance companies' investment portfolios. Mr. Sherman holds a B.S. in Business Administration from Washington University.

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.

Robert Cohen


Start Date

Tenure

Tenure Rank

Mar 20, 2017

5.2

5.2%

Mr. Cohen joined DoubleLine’s Global Developed Credit Group in 2012. He is the Director of the group and also a permanent member of the Fixed Income Asset Allocation committee. Prior to DoubleLine, he was a Senior Credit Analyst at West Gate Horizons Advisors (and its predecessor ING Capital Advisors) where he worked as an analyst covering bank loans and high yield bonds since 2001. Prior to joining ING, Mr. Cohen was an Assistant Vice President in the Asset Management Group of Union Bank. At Union Bank, Mr. Cohen managed a diversified portfolio of leveraged loans as well as a portfolio of CDO securities. Prior to Union Bank, he was an Associate Director of Corporate and Investment Banking at the Bank of Montreal in their Natural Resources Group. He holds a BA in Economics from the University of Arizona and an MBA from the University of Southern California. He is a CFA charterholder.

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.

Jeffrey Gundlach


Start Date

Tenure

Tenure Rank

Dec 31, 2017

4.42

4.4%

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

Dec 31, 2017

4.42

4.4%

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.

Michael De Kler


Start Date

Tenure

Tenure Rank

Dec 31, 2018

3.42

3.4%

Michael De Kler is an Assistant Portfolio Manager of CrossingBridge Advisors, LLC., a wholly owned subsidiary of Cohanzick Management, LLC. Michael De Kler began his career with Cohanzick as a junior analyst in 1999, rising to his current role of Assistant Portfolio Manager and Senior Analyst. Throughout his time with Cohanzick, Mr. De Kler’s focus has been on high yield and investment grade debt securities. Mr. De Kler graduated from Fairleigh Dickinson University, Magna Cum Laude, with a Bachelor of Science in Finance in 1999 and a Masters of Business Administration in 2001.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 28.77 6.13 2.41