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Name

As of 11/14/2023

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

Ecofin Global Energy Transition Fund

EETIX | Fund

$6.78

$37.6 M

0.00%

$0.00

1.42%

Vitals

YTD Return

-13.0%

1 yr return

-18.4%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$37.6 M

Holdings in Top 10

48.7%

52 WEEK LOW AND HIGH

$6.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.42%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 13.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/14/2023

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

Ecofin Global Energy Transition Fund

EETIX | Fund

$6.78

$37.6 M

0.00%

$0.00

1.42%

EETIX - Profile

Distributions

  • YTD Total Return -13.0%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.24%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Ecofin Global Energy Transition Fund
  • Fund Family Name
    Ecofin
  • Inception Date
    Apr 30, 2019
  • Shares Outstanding
    5212208
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Matthew Breidert

Fund Description

Under normal circumstances, the Fund will principally focus its investment activities in equity securities of companies that are positively exposed to long-term structural trends related to the energy transition associated with decarbonization. In particular, the strategy is focused on changes in the way energy is produced and consumed globally. Ecofin Advisors Limited, the investment sub-adviser to the Fund (the "Sub-Adviser") believes these long-term structural changes are creating secular winners and losers, resulting in investment opportunities. These companies are focused on more efficient use of resources and emissions reduction and include, but are not limited to the following sectors: consumer discretionary, energy, industrials, information technology, materials, and utilities.
The Fund will invest at least 80% of its total assets in equity securities of energy transition companies, which consist of companies (i) deriving at least 50% of their revenues or profit from or devoting at least 50% of their assets to activities in electrification, clean transportation, industrial and building efficiency, environment or other activities related to decarbonization associated with the energy transition, and in particular, opportunities from changes in the way energy is produced and consumed globally, or (ii) investing a significant portion of their capital expenditures in global energy transition activities with the intention of such activities becoming a significant part of their business. This will include those companies in technology, industrials, utilities, power, energy, chemicals, basic materials, infrastructure, consumer electronics, waste, water, transportation, automotive, semiconductors and other related environmental industries (“Energy Transition Universe,” and the companies therein being “Energy Transition Companies”). The Fund will not invest in any company whose principal business function is related to the extraction, development or transportation of oil, gas or other fossil fuels. The Fund’s investments in equity securities may include investments in other investment companies, real estate investment trusts (“REITs”), foreign investment funds, preferred stocks, rights, warrants, convertible securities, and initial public offerings. The Fund will be invested in a range of both developed and non-developed markets, commensurate with its investment criteria. The Fund considers non-developed market countries to be those countries defined as such by the MSCI Market Classification Framework.
The Energy Transition Universe is a global investment universe that includes companies mainly based in North America, Europe and Asia, but also includes companies in other regions to a lesser extent. Under normal market conditions, the Fund will invest at least 40% of its total assets in foreign securities, which the Sub-Adviser considers to be companies organized outside of the United States, whose principal listing exchange is outside the United States, or who derive a significant portion of their revenue or profits outside the United States.
The Fund’s investments in foreign securities may also include American Depository Receipts (“ADRs”) and investments in non-developed market securities. The Energy Transition Universe includes a broad range of companies, ranging from small market capitalization companies to large market capitalization companies. The Fund may invest in companies of all market capitalizations. The Fund will concentrate in industries represented by Energy Transition Companies. Energy Transition Companies currently includes the following industries: technology, industrials, utilities, power, energy, chemicals, basic materials, infrastructure, consumer electronics, waste, water, transportation, automotive, semiconductors and other related environmental industries. The Fund is a non-diversified fund.
The Fund may invest up to 15% of its total assets in debt securities, including but not limited to debt securities issued or guaranteed by the U.S. government or government-related entities. The Fund may also invest in derivatives which are financial contracts whose values depend on, or are derived from, the values of underlying assets, reference rates, or indices. To manage risk, seek particular portfolio exposure as a substitute for a comparable market position in the underlying exposure, and/or to enhance return (including through the use of leverage), the Fund may invest in derivatives including options, futures, swap contracts and combinations of these instruments. The Fund may invest in futures, options and swap contracts on equity and debt securities, equity and debt indices and commodities (i) with aggregate net notional value of up to 100% of the Fund’s net assets, or (ii) for which the initial margin and premiums do not exceed 5% of its net assets, in each case excluding bona fide hedging transactions.
The Sub-Adviser will seek to utilize a combined investment approach, assessing fundamental drivers alongside thematic, macroeconomic and regulatory factors. The Sub-Adviser will target active weights towards those investments that it believes would benefit from long-term structural trends and with attractive risk-adjusted intrinsic value. The Sub-Adviser uses a four-pronged research approach to construct the Fund’s portfolio, which assesses (1) qualitative factors, such as a company’s asset quality, management, stability of cash flows and environmental, social, governance (“ESG”) factors; (2) quantitative factors, such as growth prospects, liquidity position and sensitivities to key drivers; (3) relative value through the analysis of valuation models and equity market indicators, and; (4) its global proprietary database of power generation companies. These active weights can change over time, relative to changes in fundamental outlook, corporate strategy, share prices, regulatory changes or other factors such as, but not limited to, balance sheet and liquidity considerations, ESG risk considerations, project success or jurisdictional policy issues.
The Sub-Adviser incorporates ESG research into its investment process in an effort to provide better risk-adjusted returns to investors. ESG risk considerations may include, but are not limited to:
•Environmental: (1) Scrutiny on carbon footprint and disclosure (and other greenhouse gas emissions); (2) Company’s time horizon for carbon neutrality; (3) Water use and land use; (4) Emission and waste reduction programs; (5) Research and development, innovation and thought leadership for sustainability; (6) Capital expenditures, maintenance and capital integrity; (7) Risks linked to stranded assets; (8) Climate change-related physical risks on assets (fire, weather, droughts, etc.); (9) Adverse policy support.
•Social: (1) Impact on communities; (2) Customer satisfaction; (3) Commitment to safety standards; (4) Diversity in board, management and employees; (5) Employee engagement; (6) Commitment to fair and safe labor practice.
•Governance: (1) Protection of minority shareholders; (2) Conflicts of interest; (3) Insider ownership; (4) Management compensation; (5) Financial and strategic transparency; (6) Board independence; (7) Engagement with management and proxy voting.
The investment team may also seek to actively engage with portfolio companies to drive continuous business improvement in their ESG & sustainability practices and metrics, including but not limited to direct dialogue with senior leadership, active proxy voting and coordination with other owners. Where the investment team deem shareholder resolutions to contravene ESG principals, such as proposals that would reverse or delay progress towards net zero carbon goals or proposals that constitute a conflict of interest at the management or board level, then the investment team will vote against those specific resolutions. Resolutions are considered on a case-by-case basis.
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EETIX - Performance

Return Ranking - Trailing

Period EETIX Return Category Return Low Category Return High Rank in Category (%)
YTD -13.0% -21.1% 14.5% 97.10%
1 Yr -18.4% -28.4% 13.4% 97.10%
3 Yr N/A* -8.2% 119.9% N/A
5 Yr N/A* -6.9% 17.6% N/A
10 Yr N/A* -14.2% 12.9% N/A

* Annualized

Return Ranking - Calendar

Period EETIX Return Category Return Low Category Return High Rank in Category (%)
2023 -23.6% -23.7% 88.5% 98.55%
2022 N/A -16.7% 94.8% N/A
2021 N/A -47.8% 134.4% N/A
2020 N/A -18.0% 61.0% N/A
2019 N/A -59.6% -12.6% N/A

Total Return Ranking - Trailing

Period EETIX Return Category Return Low Category Return High Rank in Category (%)
YTD -13.0% -21.1% 14.5% 97.10%
1 Yr -18.4% -28.4% 13.4% 97.10%
3 Yr N/A* -8.2% 119.9% N/A
5 Yr N/A* -6.9% 17.6% N/A
10 Yr N/A* -14.2% 12.9% N/A

* Annualized

Total Return Ranking - Calendar

Period EETIX Return Category Return Low Category Return High Rank in Category (%)
2023 -22.5% -22.7% 88.5% 98.55%
2022 N/A -15.7% 98.4% N/A
2021 N/A -44.2% 138.4% N/A
2020 N/A -16.5% 63.2% N/A
2019 N/A -59.1% -10.4% N/A

NAV & Total Return History

EETIX - Holdings

Concentration Analysis

EETIX Category Low Category High EETIX % Rank
Net Assets 37.6 M 5.1 M 39.2 B 82.86%
Number of Holdings 28 25 223 85.71%
Net Assets in Top 10 19.7 M 2.02 M 24.7 B 82.86%
Weighting of Top 10 48.74% 30.4% 79.6% 60.00%

Top 10 Holdings

  1. NextEra Energy Inc 5.71%
  2. Infineon Technologies AG 5.70%
  3. Constellation Energy Corp 5.43%
  4. EDP - Energias de Portugal SA 5.21%
  5. Rohm Co Ltd 4.86%
  6. TE Connectivity Ltd 4.86%
  7. Prysmian SpA 4.57%
  8. Trane Technologies PLC 4.21%
  9. Enel SpA 4.14%
  10. Schneider Electric SE 4.05%

Asset Allocation

Weighting Return Low Return High EETIX % Rank
Stocks 		87.95% 70.80% 100.04% 90.00%
Cash 		11.75% 0.00% 31.85% 7.14%
Other 		0.30% 0.00% 29.33% 21.43%
Preferred Stocks 		0.00% 0.00% 1.10% 47.14%
Convertible Bonds 		0.00% 0.00% 0.00% 45.71%
Bonds 		0.00% 0.00% 5.02% 50.00%

Stock Sector Breakdown

Weighting Return Low Return High EETIX % Rank
Technology 		44.11% 0.00% 44.11% 1.43%
Utilities 		35.95% 0.00% 39.83% 5.71%
Industrials 		11.90% 0.00% 25.16% 4.29%
Consumer Cyclical 		4.94% 0.00% 6.59% 2.86%
Basic Materials 		3.11% 0.00% 17.92% 22.86%
Real Estate 		0.00% 0.00% 0.02% 50.00%
Healthcare 		0.00% 0.00% 0.00% 45.71%
Financial Services 		0.00% 0.00% 0.41% 48.57%
Energy 		0.00% 0.00% 100.00% 97.14%
Communication Services 		0.00% 0.00% 0.00% 45.71%
Consumer Defense 		0.00% 0.00% 1.54% 52.86%

Stock Geographic Breakdown

Weighting Return Low Return High EETIX % Rank
Non US 		57.65% 0.00% 59.00% 2.86%
US 		30.30% 30.30% 100.00% 98.57%

EETIX - Expenses

Operational Fees

EETIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.42% 0.08% 2.84% 35.71%
Management Fee 0.80% 0.00% 1.25% 74.29%
12b-1 Fee 0.00% 0.00% 1.00% 9.38%
Administrative Fee N/A 0.06% 0.25% N/A

Sales Fees

EETIX 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% 1.00% N/A

Trading Fees

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

EETIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 13.00% 5.00% 382.00% 10.34%

EETIX - Distributions

Dividend Yield Analysis

EETIX Category Low Category High EETIX % Rank
Dividend Yield 0.00% 0.00% 4.79% 81.43%

Dividend Distribution Analysis

EETIX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Annual

Net Income Ratio Analysis

EETIX Category Low Category High EETIX % Rank
Net Income Ratio -0.24% -1.80% 4.54% 90.00%

Capital Gain Distribution Analysis

EETIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

EETIX - Fund Manager Analysis

Managers

Matthew Breidert

Start Date

Tenure

Tenure Rank

Oct 15, 2021

0.62

0.6%

Mr. Matthew Breidert joined the firm in 2006. He is a senior portfolio manager, overseeing sustainable, impact and ESG strategies, both long only and long/short. Prior to joining the firm, Mr. Breidert was an assistant portfolio manager at Millennium Partners. Previously, he was an investment banker with SG Barr Devlin. Prior to that, he worked at Cornerstone Energy Advisers and FT Energy/RDI in Boulder, Co. Mr. Breidert earned a Bachelor of Science degree in Ecology from the University of Illinois-Urbana Champaign and a Master of Business Administration from Washington University.

Maximilian Slee

Start Date

Tenure

Tenure Rank

Oct 15, 2021

0.62

0.6%

Mr. Max Slee joined the firm in 2010. He is a portfolio manager working on sustainable, impact and ESG strategies, both long only and long/short. Before joining the firm, Mr. Slee was a member of the clean energy team of the Clinton Foundation, a global non-profit organization founded by President Clinton, where he was involved in setting up and developing carbon capture & storage (CCS) projects around the world. Previously he was an investment banker at Lazard in London where he was a specialist in the energy sector, working on mergers and acquisitions. He earned a Bachelor of Arts degree from Brown University. 032521

Tenure Analysis

Category Low Category High Category Average Category Mode
0.33 24.18 6.71 8.32

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