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Trending ETFs

Name

As of 12/17/2021

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

$25.57

$6.41 M

0.00%

$0.00

1.99%

Vitals

YTD Return

2.4%

1 yr return

6.6%

3 Yr Avg Return

1.5%

5 Yr Avg Return

2.2%

Net Assets

$6.41 M

Holdings in Top 10

84.4%

52 WEEK LOW AND HIGH

$25.7
$24.60
$27.73

Expenses

OPERATING FEES

Expense Ratio 1.99%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 30.86%

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$10,000

IRA

$5,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/17/2021

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

$25.57

$6.41 M

0.00%

$0.00

1.99%

HEDJX - Profile

Distributions

  • YTD Total Return 2.4%
  • 3 Yr Annualized Total Return 1.5%
  • 5 Yr Annualized Total Return 2.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.35%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Scharf Alpha Opportunity Fund
  • Fund Family Name
    Scharf Investments
  • Inception Date
    Dec 31, 2015
  • Shares Outstanding
    249875
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Brian Krawez

Fund Description

Under normal market conditions, the Alpha Opportunity Fund primarily invests in equity securities that the Adviser believes have significantly more appreciation potential than downside risk over the long term. Equity securities in which the Fund may invest include, but are not limited to, common and preferred stock of companies of all size market capitalizations, rights and warrants. There are no geographic limits on the Fund’s investments, and the Fund may invest without limit in securities of companies located both in the U.S. and abroad and in developed or emerging markets. Such foreign securities may be listed on foreign exchanges as well as in the form of depositary receipts, such as American Depositary Receipts (“ADRs”), European Depositary Receipts (“EDRs”) and Global Depositary Receipts (“GDRs”). The Fund may also invest without limit in mutual funds and exchange-traded funds (“ETFs”). The Fund may also invest in Rule 144A securities.
The Alpha Opportunity Fund also takes short positions in one or more ETFs that mimic broad market indices such as the Standard & Poor’s (“S&P”) 500® Index or the Value Line Composite Index, or a narrower market index such as the S&P 100® Index. A short position occurs when the Fund sells a security which it does not own in anticipation of purchasing the same security in the future at a lower price to close the short position. Under normal market conditions, the net long exposure of the Fund (gross long exposures minus gross short exposures) is expected to range between +30% and +70% net long. The Fund may utilize leverage of no more than 30% of the Fund’s total assets as part of the portfolio management process. The Adviser defines leverage as the percentage by which the value of long portfolio positions is greater than 100% of the portfolio value.
In general, the Adviser utilizes five key elements in its equity investment philosophy: low valuation, discount to fair value, investment flexibility, focus and long-term perspective. Through a proprietary screening process, the Adviser seeks to identify investments with low valuations combined with growing earnings, cash flow and/or book value which the Adviser describes as “growth stocks at value prices.” The Alpha Opportunity Fund may also invest in “special situations,” which may occur when the securities of a company are affected by circumstances, including, but not limited to, hidden assets (i.e., assets that may be undervalued on a company’s balance sheet or otherwise difficult to value and therefore not properly reflected in the company’s share price), spinoffs, liquidations, reorganizations, recapitalizations, mergers, management changes and technological changes.
In addition, the Alpha Opportunity Fund may invest up to 30% of its total assets in fixed-income securities of any duration and any maturity. Fixed-income securities in which the Fund may invest include, but are not limited to, those of domestic and foreign governments, government agencies, inflation-protected securities, asset-backed securities, exchange-traded notes (“ETNs”), money market instruments, convertible securities, bank debt, limited partnerships, municipalities and companies across a wide range of industries, market capitalizations and maturities and may include those that are rated below investment grade (i.e., “junk bonds”).The types of asset-backed securities in which the Fund may invest include mortgage-backed securities.
The Alpha Opportunity Fund may invest up to 100% of its net assets in cash, cash equivalents, and high-quality, short-term debt securities, money market mutual funds and money market instruments due to a lack of suitable investment opportunities or for temporary defensive purposes.
When selling securities, the Adviser considers the same factors it uses in evaluating a security for purchase and generally sells securities that it believes no longer have sufficient upside potential.
Read More

HEDJX - Performance

Return Ranking - Trailing

Period HEDJX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.4% -38.4% 48.3% 63.27%
1 Yr 6.6% -29.5% 50.8% 79.40%
3 Yr 1.5%* -7.8% 22.7% 85.08%
5 Yr 2.2%* -4.6% 18.5% 86.39%
10 Yr N/A* -6.2% 12.0% N/A

* Annualized

Return Ranking - Calendar

Period HEDJX Return Category Return Low Category Return High Rank in Category (%)
2023 -3.1% -47.6% 88.4% 78.72%
2022 9.0% -20.3% 62.6% 46.93%
2021 0.6% -53.1% 12.7% 8.82%
2020 0.2% -67.1% 21.9% 86.71%
2019 -2.3% -17.3% 25.3% 73.68%

Total Return Ranking - Trailing

Period HEDJX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.4% -38.0% 48.3% 63.27%
1 Yr 6.6% -29.5% 50.8% 70.85%
3 Yr 1.5%* -8.9% 22.7% 84.53%
5 Yr 2.2%* -5.1% 18.5% 86.39%
10 Yr N/A* -6.2% 12.0% N/A

* Annualized

Total Return Ranking - Calendar

Period HEDJX Return Category Return Low Category Return High Rank in Category (%)
2023 -3.1% -47.6% 88.4% 78.72%
2022 9.0% -20.3% 62.6% 46.93%
2021 0.6% -53.1% 12.7% 11.18%
2020 2.2% -12.7% 24.8% 86.08%
2019 -1.8% -15.5% 25.3% 78.20%

NAV & Total Return History


HEDJX - Holdings

Concentration Analysis

HEDJX Category Low Category High HEDJX % Rank
Net Assets 6.41 M 0 5.31 B 90.24%
Number of Holdings 33 4 2904 72.77%
Net Assets in Top 10 232 K -80.2 M 825 M 95.54%
Weighting of Top 10 84.44% 3.3% 100.0% 12.00%

Top 10 Holdings

  1. Invesco QQQ Trust 23.57%
  2. SPDR® S&P 500 ETF Trust 16.85%
  3. Microsoft Corp 7.95%
  4. Berkshire Hathaway Inc Class B 6.09%
  5. Advance Auto Parts Inc 5.24%
  6. Comcast Corp Class A 5.18%
  7. CVS Health Corp 5.09%
  8. McKesson Corp 5.02%
  9. Oracle Corp 4.76%
  10. Markel Corp 4.68%

Asset Allocation

Weighting Return Low Return High HEDJX % Rank
Stocks
57.33% -32.43% 157.66% 68.47%
Cash
41.88% -46.21% 115.93% 30.35%
Other
0.79% -57.66% 49.47% 25.87%
Preferred Stocks
0.00% -0.02% 8.95% 18.91%
Convertible Bonds
0.00% 0.00% 3.45% 21.39%
Bonds
0.00% -0.70% 152.17% 31.03%

Stock Sector Breakdown

Weighting Return Low Return High HEDJX % Rank
Technology
23.84% 0.00% 42.71% 38.38%
Healthcare
23.48% 0.00% 100.00% 7.03%
Financial Services
13.61% 0.00% 79.11% 56.22%
Communication Services
11.55% 0.00% 29.95% 21.62%
Industrials
10.65% 0.00% 35.78% 51.35%
Consumer Cyclical
7.39% 0.00% 84.48% 81.62%
Consumer Defense
5.06% 0.00% 26.84% 64.32%
Energy
4.41% 0.00% 14.22% 23.78%
Utilities
0.00% 0.00% 21.43% 81.62%
Real Estate
0.00% 0.00% 16.32% 84.86%
Basic Materials
0.00% 0.00% 20.18% 85.95%

Stock Geographic Breakdown

Weighting Return Low Return High HEDJX % Rank
US
43.36% -40.71% 152.85% 65.17%
Non US
13.97% -2.44% 98.61% 21.89%

HEDJX - Expenses

Operational Fees

HEDJX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.99% 0.40% 11.46% 49.51%
Management Fee 0.99% 0.00% 2.50% 32.04%
12b-1 Fee 0.25% 0.00% 1.00% 31.90%
Administrative Fee N/A 0.03% 1.54% N/A

Sales Fees

HEDJX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

HEDJX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 0.50% 2.00% 6.45%

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.

HEDJX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 30.86% 0.00% 498.00% 15.43%

HEDJX - Distributions

Dividend Yield Analysis

HEDJX Category Low Category High HEDJX % Rank
Dividend Yield 0.00% 0.00% 21.16% 15.05%

Dividend Distribution Analysis

HEDJX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

HEDJX Category Low Category High HEDJX % Rank
Net Income Ratio -0.35% -3.33% 2.88% 38.89%

Capital Gain Distribution Analysis

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

Distributions History

View More +

HEDJX - Fund Manager Analysis

Managers

Brian Krawez


Start Date

Tenure

Tenure Rank

Dec 31, 2015

5.92

5.9%

Mr. Krawez began his career more than 20 years ago with Smith Barney in San Francisco and later moved to their investment banking division in New York City where he was ranked as a top-rated analyst focusing on health care. Prior to joining Scharf Investments, Mr. Krawez was a Partner and head of research for Belden and Associates Investment Counsel where he managed a successful large blend portfolio. He has also held research analyst positions at Dodge & Cox, Telegraph Hill Investment Counsel, and SC Fundamental, a successful value oriented hedge fund. Mr. Krawez earned both a BS with honors in Business Administration and an MBA from the Haas School of Business at the University of California, Berkeley. While at UC Berkeley he worked for Professor Yellen, the current Chair of the Board of Governors of the Federal Reserve. Mr. Krawez is a CFA® charterholder and a member of the Security Analysts of San Francisco.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 23.05 5.74 7.43