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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$8.79

$1.75 B

0.00%

0.61%

Vitals

YTD Return

2.6%

1 yr return

-5.3%

3 Yr Avg Return

-1.8%

5 Yr Avg Return

-0.5%

Net Assets

$1.75 B

Holdings in Top 10

15.6%

52 WEEK LOW AND HIGH

$8.8
$8.35
$9.30

Expenses

OPERATING FEES

Expense Ratio 0.61%

SALES FEES

Front Load 4.75%

Deferred Load N/A

TRADING FEES

Turnover 10.66%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$8.79

$1.75 B

0.00%

0.61%

HICOX - Profile

Distributions

  • YTD Total Return 2.6%
  • 3 Yr Annualized Total Return -1.8%
  • 5 Yr Annualized Total Return -0.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.92%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Colorado Bond Shares A Tax Exempt Fund
  • Fund Family Name
    Freedom Funds
  • Inception Date
    Jun 04, 1987
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Fred Kelly

Fund Description

To achieve the Fund’s investment objective, under normal market conditions, the Fund will attempt to invest up to 100% and, except for temporary investments, will invest at least 80% of the value of its net assets (plus the amount of any borrowings for investment purposes) in tax‑exempt bonds and other tax‑exempt securities, including tax‑exempt notes and tax‑exempt municipal leases of the State of Colorado, its political subdivisions, municipalities and public authorities (“Tax‑Exempt Obligations”). Under normal circumstances, the Tax‑Exempt Obligations that are invested in by the Fund will mostly include tax‑exempt bonds (at least 65% of the value of the Fund’s total assets). The interest on the Tax‑Exempt Obligations will be exempt from regular federal income taxes and from Colorado personal income tax. The Fund may invest generally no more than 20% of the investments of the Fund in securities that may subject you to federal alternative minimum tax.
The Fund will invest primarily in Tax‑Exempt Obligations that are not rated by a Nationally Recognized Statistical Rating Organization, but that the Investment Adviser determines are of equivalent quality to investments rated no less than investment grade (“Baa” or “BBB”). The Fund is not restricted in the amount of not rated Tax‑Exempt Obligations in which it can invest, and no more than 50% of its investments can be invested in rated Tax‑Exempt Obligations. The Fund may also invest in Tax‑Exempt Obligations that are rated below investment grade by a Nationally Recognized Statistical Rating Organization, or that are determined to have equivalent quality as determined by the Investment Adviser. Less than 35% of the Fund’s total assets will be invested in Tax‑Exempt Obligations that are rated lower than investment grade by Moody’s or S&P, or that are determined to have equivalent below investment grade quality by the Investment Adviser at the time of purchase. The Tax‑Exempt Obligations that are below investment grade may also include securities rated “Ba1” and “BB+” or below, which are sometimes referred to as “junk bonds.” Some of the securities in which the fund invests may have credit and liquidity support features, including guarantees and letters of credit. The Fund is a “diversified” investment company, meaning that as to 75% of the Fund’s total assets, no more than 5% of the assets of the Fund will be invested in the obligations of any one issuer. 
Obligations which are not rated generally offer higher yields than Tax‑Exempt Obligations with equivalent quality that are rated, but also are generally subject to higher risk. The Fund relies on the professional judgment of the Investment Adviser (through the portfolio manager) to make decisions about the Fund’s portfolio securities and the Fund’s investments, and given that most of the Fund’s investments are not rated, the Investment Adviser’s judgment, analysis and experience (through the portfolio manager) are more important than they would be if the Fund relied more on rating agencies for evaluating credit quality. The Investment Adviser attempts to manage the higher risk of investing in not rated Tax‑Exempt Obligations by analyzing various factors in managing the Fund’s portfolio, which may include performing credit analysis, reviewing the current economic trends and developments in the geographic areas affecting the Fund’s investments, reviewing general market conditions, comparing pricing of similar investments issued by comparable issuers, reviewing current and anticipated changes in interest rates, evaluating other factors relevant to a particular security being evaluated and actively managing and diversifying the portfolio among municipal issuers. Securities may be sold when the Investment Adviser believes that they no longer represent relatively attractive investment opportunities. 
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HICOX - Performance

Return Ranking - Trailing

Period HICOX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.6% -86.8% 7.5% 37.62%
1 Yr -5.3% -20.9% 15.7% 49.05%
3 Yr -1.8%* -10.2% 52.2% 36.28%
5 Yr -0.5%* -5.1% 29.7% 39.51%
10 Yr -0.5%* -3.2% 13.6% 22.39%

* Annualized

Return Ranking - Calendar

Period HICOX Return Category Return Low Category Return High Rank in Category (%)
2022 -8.7% -91.1% 101.7% 38.94%
2021 0.4% -79.2% 102.5% 26.39%
2020 0.3% -66.1% 60.0% 66.35%
2019 0.5% -57.4% 7.6% 80.73%
2018 0.0% -35.9% 3.2% 6.88%

Total Return Ranking - Trailing

Period HICOX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.6% -86.8% 7.5% 37.83%
1 Yr -5.3% -20.9% 15.4% 49.66%
3 Yr -1.8%* -10.2% 52.2% 37.98%
5 Yr -0.4%* -5.1% 29.7% 41.04%
10 Yr -0.4%* -3.2% 13.6% 26.68%

* Annualized

Total Return Ranking - Calendar

Period HICOX Return Category Return Low Category Return High Rank in Category (%)
2022 -8.7% -91.1% 101.7% 38.97%
2021 0.4% -79.2% 102.5% 26.47%
2020 0.3% -66.1% 60.0% 66.32%
2019 0.5% -57.4% 7.6% 80.79%
2018 0.1% -35.9% 3.2% 7.61%

NAV & Total Return History


HICOX - Holdings

Concentration Analysis

HICOX Category Low Category High HICOX % Rank
Net Assets 1.75 B 2.87 M 73.9 B 21.77%
Number of Holdings 302 1 14000 34.10%
Net Assets in Top 10 276 M -317 M 8.64 B 9.93%
Weighting of Top 10 15.57% 2.4% 100.0% 65.45%

Top 10 Holdings

  1. COLORADO EDL & CULTURAL FACS AUTH REV 4.375% 4.375% 2.01%
  2. Colorado Edl & Cultural Facs Auth Rev 2.01%
  3. RAVENNA MET DIST COLO 5% 5% 1.92%
  4. MEADOWS MET DIST COLO 7.999% 7.999% 1.75%
  5. FEDERAL HOME LN MTG CORP MULTIFAMILY VAR RATE CTFS RELATING TO MUN SECS 0.1 1.67%
  6. PUBLIC FIN AUTH WIS CHARTER SCH REV 4.65% 4.65% 1.64%
  7. PUBLIC FIN AUTH WIS ED REV 5% 5% 1.59%
  8. COLORADO EDL & CULTURAL FACS AUTH REV 4.5% 4.5% 1.44%
  9. Public Fin Auth Wis Charter Sch Rev 1.43%
  10. PIONEER CMNTY AUTH BRD COLO SPL REV 6.75% 6.75% 1.36%

Asset Allocation

Weighting Return Low Return High HICOX % Rank
Bonds
69.03% 0.00% 150.86% 99.68%
Cash
31.18% -50.86% 100.00% 0.14%
Stocks
0.00% -0.03% 4.63% 26.01%
Preferred Stocks
0.00% -1.79% 0.04% 23.40%
Convertible Bonds
0.00% 0.00% 0.93% 23.49%
Other
-0.21% -13.03% 30.01% 99.41%

Bond Sector Breakdown

Weighting Return Low Return High HICOX % Rank
Municipal
68.31% 0.00% 100.00% 99.68%
Cash & Equivalents
31.12% 0.00% 100.00% 0.23%
Corporate
0.47% 0.00% 9.99% 4.35%
Government
0.10% 0.00% 52.02% 3.45%
Derivative
0.00% 0.00% 21.68% 22.95%
Securitized
0.00% 0.00% 5.93% 24.49%

Bond Geographic Breakdown

Weighting Return Low Return High HICOX % Rank
US
68.39% 0.00% 142.23% 99.59%
Non US
0.64% 0.00% 62.14% 48.84%

HICOX - Expenses

Operational Fees

HICOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.61% 0.02% 3.60% 42.67%
Management Fee 0.50% 0.00% 1.10% 77.40%
12b-1 Fee N/A 0.00% 1.00% 11.90%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

HICOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.75% 0.00% 4.90% 16.60%
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

HICOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

HICOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 10.66% 0.00% 283.00% 25.81%

HICOX - Distributions

Dividend Yield Analysis

HICOX Category Low Category High HICOX % Rank
Dividend Yield 0.00% 0.00% 35.27% 14.77%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

HICOX Category Low Category High HICOX % Rank
Net Income Ratio 3.92% -0.53% 24.00% 4.21%

Capital Gain Distribution Analysis

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

Distributions History

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HICOX - Fund Manager Analysis

Managers

Fred Kelly


Start Date

Tenure

Tenure Rank

Nov 01, 1990

31.6

31.6%

Fred R. Kelly, Jr., is President, Secretary Treasurer and Portfolio Manager of the Freedom Funds Management Company. Mr. Kelly is also a registered representative of Smith Hayes Financial Services Corporation. For 10 years preceding his appointment as portfolio manager, Mr. Kelly worked for the investment banking firm of Hanifen, Imhoff Inc. (“Hanifen”) and specialized in the area of tax-exempt public finance, serving as financial adviser and investment banker for public entities primarily in the Rocky Mountain region. More recently, Mr. Kelly has been actively involved in the restructuring of financially troubled projects, has acted as a financial consultant. Prior to joining Hanifen, Mr. Kelly was employed for six years by the U.S. Treasury Department, Comptroller of the Currency, as a Senior Field Examiner. Mr. Kelly is a past director of the Colorado Municipal Bond Dealers Association and currently serves as a director of First National Bancshares, Inc., Carbon County Holding Company, Rawlins National Bank, Cowboy State Bank and is President of Carbon County Holding Company. Mr. Kelly pursued his undergraduate study at the University of Wyoming in Laramie, receiving his bachelor’s degree in Accounting with emphasis in Finance. Subsequently, he attended Northwestern University in Evanston, Illinois, where he completed his postgraduate work in banking.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.22 1.58