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Trending ETFs

Name

As of 03/25/2024

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

$11.38

$41.4 M

2.19%

$0.25

1.16%

Vitals

YTD Return

1.8%

1 yr return

9.1%

3 Yr Avg Return

4.6%

5 Yr Avg Return

3.5%

Net Assets

$41.4 M

Holdings in Top 10

51.8%

52 WEEK LOW AND HIGH

$11.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.16%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 16.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/25/2024

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

$11.38

$41.4 M

2.19%

$0.25

1.16%

FPILX - Profile

Distributions

  • YTD Total Return 1.8%
  • 3 Yr Annualized Total Return 4.6%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency Quarterly
  • Net Income Ratio 1.80%
DIVIDENDS
  • Dividend Yield 2.2%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Delaware Premium Income Fund
  • Fund Family Name
    First Investors
  • Inception Date
    Apr 02, 2018
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Sean Hughes

Fund Description

The Fund invests in a portfolio of equity securities and writes (sells) call options on those securities. Under normal circumstances, the Fund will write (sell) call options on a majority of its total assets.  Typically, all of the call options written (sold) by the Fund are expected to be “in the money” at the time they are written (sold). The Fund’s call option writing strategy is designed to generate income and lower the overall risk profile of the Fund’s portfolio.

A call option gives the purchaser of the option the right to buy, and the writer, in this case, the Fund, the obligation to sell, the underlying security at the exercise price at any time prior to the expiration of the option, regardless of the market price of the underlying security during the option period. An “in-the-money” call option means that its exercise price is below the current market price of the underlying security. The Fund receives premiums for writing covered call options as consideration for undertaking the obligations under the option contracts. Premiums received for a call option the Fund writes will be treated as a short-term capital gain if the option expires.

The Fund will normally write (sell) covered call options listed on US exchanges on the equity securities held by the Fund. The Fund’s equity investments will consist primarily of common stocks of large-size US companies (companies over $10 billion in market capitalization), certain of which may pay dividends, and US dollar-denominated equity securities of foreign issuers (i.e., American Depositary Receipts (ADRs)), traded on US securities exchanges. To a lesser extent, the Fund may also invest in and write (sell) covered call options on securities of mid- and small-capitalization issuers and exchange-traded funds (ETFs) that track certain market indices, such as the S&P 500. Small-capitalization companies are defined as companies that have a market cap no greater than $5 billion and mid-capitalization companies have a market cap between $5 and $10 billion. The Fund’s covered call writing strategy is intended to generate income rather than keep pace with the equity markets. As a result, the Fund may be expected to underperform equity markets during periods of sharply rising equity prices. Covered call options may be sold up to the number of shares of the equity securities held by the Fund.

In selecting investments, Ziegler Capital Management, LLC (ZCM), the Fund’s sub-advisor, considers the following, among other criteria: a) companies in an industry with a large market share or significant revenues that fit the Fund’s investment strategy; b) companies with new products or new management to replace underperforming management; c) recent or anticipated fundamental improvements in industry environment; and d) companies that are out of favor. ZCM considers several factors when writing (selling) call options, including the overall equity market outlook, sector and/or industry attractiveness, individual security considerations, and relative and/or historical levels of option premiums.

The Fund may sell a security based on the following, among other criteria: a) an actual or anticipated significant decline in an issuer’s profitability and/or a significant negative outlook from management; b) a large appreciation in the stock price that leads to overvaluation relative to itself and its peers historically; c) significant management turnover at the senior level; d) an industry-wide decrease in demand for an issuer’s products or services; or e) unattractive call premiums. ZCM writes call options based upon its outlook on the economy and stock market and analysis of individual stocks, which can impact the exercise price and expiration of a call option. The writing of covered call options may result in frequent trading and a high portfolio turnover rate.

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FPILX - Performance

Return Ranking - Trailing

Period FPILX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -2.8% 240.8% 60.47%
1 Yr 9.1% -4.3% 140.6% 53.04%
3 Yr 4.6%* -8.3% 18.3% N/A
5 Yr 3.5%* -5.0% 17.3% N/A
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period FPILX Return Category Return Low Category Return High Rank in Category (%)
2023 8.7% -34.1% 904.0% 79.73%
2022 -2.3% -28.6% 438.4% 79.19%
2021 8.7% -93.5% 8.2% N/A
2020 -4.1% -38.9% 19.8% N/A
2019 5.1% -10.9% 12.8% N/A

Total Return Ranking - Trailing

Period FPILX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -2.7% 244.0% 61.66%
1 Yr 9.1% -4.3% 140.6% 52.61%
3 Yr 4.6%* -8.3% 18.3% N/A
5 Yr 3.5%* -5.4% 17.3% N/A
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Total Return Ranking - Calendar

Period FPILX Return Category Return Low Category Return High Rank in Category (%)
2023 9.8% -34.1% 904.0% 79.73%
2022 -2.3% -5.9% 438.4% 79.77%
2021 8.7% -81.2% 8.2% N/A
2020 -4.1% -29.0% 19.8% N/A
2019 9.0% -10.9% 12.8% N/A

NAV & Total Return History


FPILX - Holdings

Concentration Analysis

FPILX Category Low Category High FPILX % Rank
Net Assets 41.4 M 25 17.4 B 67.42%
Number of Holdings 98 2 508 32.82%
Net Assets in Top 10 22.9 M -6.66 M 5.12 B 69.85%
Weighting of Top 10 51.80% 11.3% 100.0% 30.67%

Top 10 Holdings

  1. Microsoft Corp 8.32%
  2. BlackRock Inc 5.86%
  3. Broadcom Inc 5.80%
  4. Boeing Co/The 4.94%
  5. JPMorgan Chase Co 4.80%
  6. Alphabet Inc 4.67%
  7. CSX Corp 4.63%
  8. Home Depot Inc/The 4.62%
  9. Cisco Systems Inc 4.16%
  10. Booking Holdings Inc 4.00%

Asset Allocation

Weighting Return Low Return High FPILX % Rank
Stocks
126.63% -3.92% 100.76% 48.09%
Cash
2.32% -0.76% 100.29% 50.38%
Preferred Stocks
0.00% 0.00% 3.08% 28.63%
Convertible Bonds
0.00% 0.00% 20.91% 30.92%
Bonds
0.00% 0.00% 97.96% 34.73%
Other
-28.94% 0.00% 45.92% 16.03%

Stock Sector Breakdown

Weighting Return Low Return High FPILX % Rank
Technology
22.66% 0.00% 44.43% 7.56%
Industrials
12.84% 1.41% 43.91% 16.39%
Consumer Cyclical
12.83% 0.00% 19.02% 75.21%
Healthcare
12.78% 0.00% 25.91% 81.93%
Financial Services
12.58% 0.00% 29.60% 92.02%
Energy
8.42% 0.00% 69.54% 8.82%
Consumer Defense
7.67% 0.00% 22.87% 11.76%
Communication Services
6.86% 0.00% 21.22% 81.09%
Basic Materials
1.76% 0.00% 60.58% 95.38%
Utilities
1.60% 0.00% 13.35% 90.76%
Real Estate
0.00% 0.00% 9.74% 93.70%

Stock Geographic Breakdown

Weighting Return Low Return High FPILX % Rank
US
126.63% -3.89% 100.00% 26.72%
Non US
0.00% -2.17% 99.33% 89.31%

FPILX - Expenses

Operational Fees

FPILX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.16% 0.20% 6.78% 44.44%
Management Fee 0.80% 0.20% 1.75% 50.37%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.28% N/A

Sales Fees

FPILX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.75% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

FPILX 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.

FPILX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 16.00% 0.00% 456.80% 56.70%

FPILX - Distributions

Dividend Yield Analysis

FPILX Category Low Category High FPILX % Rank
Dividend Yield 2.19% 0.00% 3.76% 33.09%

Dividend Distribution Analysis

FPILX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Net Income Ratio Analysis

FPILX Category Low Category High FPILX % Rank
Net Income Ratio 1.80% -2.54% 14.24% 6.56%

Capital Gain Distribution Analysis

FPILX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Quarterly Annually Annually Annually

Distributions History

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FPILX - Fund Manager Analysis

Managers

Sean Hughes


Start Date

Tenure

Tenure Rank

Apr 02, 2018

4.16

4.2%

Sean Hughes, CFA, is a Senior Portfolio Manager for the FAMCO Group at ZCM. Prior to joining the firm in 2015, Sean was Portfolio Manager for Fiduciary Asset Management (“FAMCO”) since 2010. Mr. Hughes joined FAMCO in 2005 as a Research Analyst for the covered call strategies. Sean received his M.B.A. from the Olin School of Business at Washington University in St. Louis. He is a graduate of the Tuck School of Business Bridge Program and holds a B.A. from Oberlin College. He is a CFA® charterholder and a member of CFA Institute, the St. Louis Society of Financial Analysts, and the National Association for Business Economics.

Wiley Angell


Start Date

Tenure

Tenure Rank

Apr 02, 2018

4.16

4.2%

Wiley Angell is the Chief Investment Officer and Senior Portfolio Manager for the FAMCO Group at ZCM. Prior to joining the firm in 2015, Wiley was Chief Executive Officer and Chief Investment Officer – Equities and Fixed Income for Fiduciary Asset Management (“FAMCO”) since the firm’s inception in 1994. Prior to that, Wiley served as Portfolio Manager for General Dynamics. He was also Treasurer of Franklin Savings Association where he managed a multi-billion dollar mortgage portfolio and was responsible for the firm’s hedging strategies and balance sheet risk control. He has managed institutional portfolios for over 25 years, specializing in equity, covered call, fixed income and liability driven investing. Wiley received his B.A. in Business and Economics from Ottawa University and has served on boards of university endowments and charitable organizations.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 19.77 3.61 5.67