Intermediate Bond Fund
Fund
HOIBX
Price as of:
$4.57
+ $0.02
+ 0.44%
Primary Theme
fund company
Name
As of 11/04/2024Price
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
Vitals
YTD Return
1.7%
1 yr return
7.6%
3 Yr Avg Return
-2.4%
5 Yr Avg Return
0.3%
Net Assets
$139 M
Holdings in Top 10
22.6%
52 WEEK LOW AND HIGH
$4.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.89%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 249.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500
IRA
$200
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/04/2024Price
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
HOIBX - Profile
Distributions
- YTD Total Return 1.7%
- 3 Yr Annualized Total Return -2.4%
- 5 Yr Annualized Total Return 0.3%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.03%
- Dividend Yield 3.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameIntermediate Bond Fund
-
Fund Family NameHomestead
-
Inception DateMay 01, 2019
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMauricio Agudelo
Fund Description
Under normal circumstances, the Fund intends to invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in fixed-income debt securities. These investments primarily include: commercial paper; corporate bonds; U.S. Treasury securities; securities issued or guaranteed by U.S. Government entities, its agencies or instrumentalities; municipal bonds, mortgage-backed securities, including, without limitation, collateralized mortgage obligations (“CMOs”) and commercial and/or residential mortgage-backed securities (“CMBS”), and other asset-backed securities; mortgage pass-through securities; U.S. Dollar-denominated debt securities of foreign issuers (Yankee bonds); sovereign and supranational debt securities; and other income-producing debt instruments with fixed, floating or variable interest rates. As a matter of fundamental policy, the Fund will normally invest at least 25% of its total assets (i.e., concentrate) in mortgage-related assets and asset-backed instruments issued by government agencies or other governmental entities or by private originators or issuers, and other investments that Homestead Advisers considers to have the same primary economic characteristics.
The Fund may invest up to 20% of its assets in other instruments, primarily including preferred stock (fixed maturity and perpetual), convertible bonds, and other investment companies, including open-end funds, closed-end funds and exchange-traded funds (“ETFs”).
Homestead Advisers has broad flexibility to use various investment strategies and to invest in a wide variety of fixed income instruments that it believes offer the potential for current income. Homestead Advisers expects to allocate the
Fund’s assets in response to changing market, financial, economic, and political factors and events that the Fund’s portfolio managers believe may affect the values of the Fund’s investments.
The Fund may invest in securities that have not been registered for public sale in the U.S. or relevant non-U.S. jurisdictions, including without limitation securities eligible for purchase and sale pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), or relevant provisions of applicable non-U.S. law, and other securities issued in private placements.
The Fund may invest in securities of any credit quality. The Fund may invest up to 15% of its assets in securities rated below investment grade (securities rated Ba1 or below by Moody’s Investors Service, Inc. and BB+ or below by Standard & Poor’s Corporation and Fitch Ratings, Inc. or other Nationally Recognized Statistical Rating Organization (“NRSRO”)) or unrated securities judged by Homestead Advisers to be of comparable quality. Corporate bonds and certain other fixed income instruments rated below investment grade, or such instruments that are unrated and determined by Homestead Advisers to be of comparable quality, are high yield, high risk bonds, commonly known as “junk bonds”.
The average dollar-weighted maturity of the Fund, under normal circumstances, is expected to be between three and ten years. The average portfolio duration of the Fund, under normal circumstances, is expected to be no less than 50% and no greater than 125% of the duration of the Bloomberg U.S. Aggregate Index. Duration is a measure of the expected life of a fixed income instrument that is used to determine the sensitivity of a security’s price to changes in interest rates. Effective duration is a measure of the Fund’s portfolio duration adjusted for the anticipated effect of interest rate changes on bond and mortgage pre-payment rates.
HOIBX - Performance
Return Ranking - Trailing
| Period | HOIBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.7% | -5.7% | 10.9% | 54.96% |
| 1 Yr | 7.6% | -1.8% | 18.8% | 62.13% |
| 3 Yr | -2.4%* | -9.9% | 27.5% | 34.60% |
| 5 Yr | 0.3%* | -7.5% | 58.4% | 31.93% |
| 10 Yr | N/A* | -2.8% | 73.7% | N/A |
* Annualized
Return Ranking - Calendar
| Period | HOIBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.9% | -16.2% | 8.1% | 14.56% |
| 2022 | -15.2% | -34.7% | 131.9% | 23.50% |
| 2021 | -2.4% | -11.6% | 4.4% | 12.50% |
| 2020 | 5.5% | -10.1% | 946.1% | 23.02% |
| 2019 | N/A | -1.7% | 16.9% | N/A |
Total Return Ranking - Trailing
| Period | HOIBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.7% | -5.7% | 10.9% | 54.96% |
| 1 Yr | 7.6% | -1.8% | 18.8% | 62.13% |
| 3 Yr | -2.4%* | -9.9% | 27.5% | 34.60% |
| 5 Yr | 0.3%* | -7.5% | 58.4% | 31.93% |
| 10 Yr | N/A* | -2.8% | 73.7% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | HOIBX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.6% | -11.3% | 11.9% | 30.05% |
| 2022 | -13.5% | -32.2% | 131.9% | 46.69% |
| 2021 | -0.2% | -9.4% | 9.2% | 25.99% |
| 2020 | 8.9% | -1.9% | 1009.0% | 38.10% |
| 2019 | N/A | 1.1% | 21668.0% | N/A |
NAV & Total Return History
HOIBX - Holdings
Concentration Analysis
| HOIBX | Category Low | Category High | HOIBX % Rank | |
|---|---|---|---|---|
| Net Assets | 139 M | 2.9 M | 314 B | 86.61% |
| Number of Holdings | 327 | 1 | 17787 | 77.05% |
| Net Assets in Top 10 | 30.4 M | 1.62 M | 35.1 B | 87.09% |
| Weighting of Top 10 | 22.65% | 4.4% | 432.9% | 51.54% |
Top 10 Holdings
- Freddie Mac Pool 3.38%
- U.S. Treasury Bonds 2.75%
- U.S. Treasury Bonds 2.67%
- Ginnie Mae II Pool 2.24%
- Fannie Mae Pool 2.21%
- Fannie Mae Pool 2.13%
- State Street Institutional US Government Money Market Fund 2.01%
- U.S. Treasury Notes 1.98%
- U.S. Treasury Bonds 1.84%
- Fannie Mae Pool 1.43%
Asset Allocation
| Weighting | Return Low | Return High | HOIBX % Rank | |
|---|---|---|---|---|
| Bonds | 88.34% | 0.00% | 993.61% | 76.58% |
| Other | 9.48% | -16.55% | 52.94% | 26.95% |
| Cash | 2.18% | -54.51% | 237.69% | 54.51% |
| Convertible Bonds | 0.81% | 0.00% | 7.93% | 73.79% |
| Stocks | 0.00% | 0.00% | 99.99% | 89.88% |
| Preferred Stocks | 0.00% | 0.00% | 71.02% | 87.60% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | HOIBX % Rank | |
|---|---|---|---|---|
| Corporate | 41.61% | 0.00% | 100.00% | 18.68% |
| Government | 27.55% | 0.00% | 86.23% | 44.99% |
| Securitized | 27.33% | 0.00% | 98.40% | 56.45% |
| Municipal | 3.01% | 0.00% | 100.00% | 10.84% |
| Cash & Equivalents | 2.01% | -0.46% | 237.69% | 54.41% |
| Derivative | 0.00% | -1.58% | 44.82% | 75.82% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | HOIBX % Rank | |
|---|---|---|---|---|
| US | 88.34% | 0.00% | 993.61% | 71.41% |
| Non US | 0.00% | 0.00% | 30.95% | 88.63% |
HOIBX - Expenses
Operational Fees
| HOIBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.89% | 0.01% | 39.64% | 33.09% |
| Management Fee | 0.60% | 0.00% | 1.76% | 97.10% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.50% | 90.00% |
Sales Fees
| HOIBX 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% | 4.00% | N/A |
Trading Fees
| HOIBX 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.
| HOIBX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 249.00% | 2.00% | 493.39% | 76.91% |
HOIBX - Distributions
Dividend Yield Analysis
| HOIBX | Category Low | Category High | HOIBX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.72% | 0.00% | 10.11% | 65.85% |
Dividend Distribution Analysis
| HOIBX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| HOIBX | Category Low | Category High | HOIBX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.03% | -1.28% | 4.79% | 87.47% |
Capital Gain Distribution Analysis
| HOIBX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.014 | OrdinaryDividend |
| Aug 30, 2024 | $0.014 | OrdinaryDividend |
| Jul 31, 2024 | $0.014 | OrdinaryDividend |
| Apr 30, 2024 | $0.014 | OrdinaryDividend |
| Mar 28, 2024 | $0.014 | OrdinaryDividend |
| Feb 29, 2024 | $0.013 | OrdinaryDividend |
| Jan 31, 2024 | $0.013 | OrdinaryDividend |
| Dec 29, 2023 | $0.013 | OrdinaryDividend |
| Nov 30, 2023 | $0.014 | OrdinaryDividend |
| Oct 31, 2023 | $0.013 | OrdinaryDividend |
| Sep 29, 2023 | $0.013 | OrdinaryDividend |
| Aug 31, 2023 | $0.013 | OrdinaryDividend |
| Jul 31, 2023 | $0.013 | OrdinaryDividend |
| Jun 30, 2023 | $0.012 | OrdinaryDividend |
| May 31, 2023 | $0.012 | OrdinaryDividend |
| Apr 28, 2023 | $0.012 | OrdinaryDividend |
| Mar 31, 2023 | $0.011 | OrdinaryDividend |
| Feb 28, 2023 | $0.011 | OrdinaryDividend |
| Jan 31, 2023 | $0.011 | OrdinaryDividend |
| Dec 31, 2022 | $0.011 | OrdinaryDividend |
| Nov 30, 2022 | $0.011 | OrdinaryDividend |
| Oct 31, 2022 | $0.010 | OrdinaryDividend |
| Sep 30, 2022 | $0.009 | OrdinaryDividend |
| Aug 31, 2022 | $0.008 | OrdinaryDividend |
| Jul 29, 2022 | $0.008 | OrdinaryDividend |
| Jun 30, 2022 | $0.008 | OrdinaryDividend |
| May 31, 2022 | $0.008 | OrdinaryDividend |
| Apr 29, 2022 | $0.007 | OrdinaryDividend |
| Mar 31, 2022 | $0.006 | OrdinaryDividend |
| Feb 28, 2022 | $0.006 | OrdinaryDividend |
| Jan 31, 2022 | $0.006 | OrdinaryDividend |
| Dec 31, 2021 | $0.005 | OrdinaryDividend |
| Nov 30, 2021 | $0.006 | OrdinaryDividend |
| Oct 29, 2021 | $0.006 | OrdinaryDividend |
| Sep 30, 2021 | $0.005 | OrdinaryDividend |
| Aug 31, 2021 | $0.005 | OrdinaryDividend |
| Jul 30, 2021 | $0.005 | OrdinaryDividend |
| Jun 30, 2021 | $0.006 | OrdinaryDividend |
| May 28, 2021 | $0.006 | OrdinaryDividend |
| Apr 30, 2021 | $0.006 | OrdinaryDividend |
| Mar 31, 2021 | $0.006 | OrdinaryDividend |
| Feb 26, 2021 | $0.006 | OrdinaryDividend |
| Jan 29, 2021 | $0.052 | OrdinaryDividend |
| Dec 31, 2020 | $0.007 | OrdinaryDividend |
| Dec 17, 2020 | $0.081 | CapitalGainShortTerm |
| Nov 30, 2020 | $0.007 | OrdinaryDividend |
| Oct 30, 2020 | $0.007 | OrdinaryDividend |
| Sep 30, 2020 | $0.007 | OrdinaryDividend |
| Aug 31, 2020 | $0.007 | OrdinaryDividend |
| Jul 31, 2020 | $0.007 | OrdinaryDividend |
| Jun 30, 2020 | $0.007 | OrdinaryDividend |
| May 29, 2020 | $0.006 | OrdinaryDividend |
| Apr 30, 2020 | $0.007 | OrdinaryDividend |
| Mar 31, 2020 | $0.007 | OrdinaryDividend |
| Feb 28, 2020 | $0.007 | OrdinaryDividend |
| Jan 31, 2020 | $0.008 | OrdinaryDividend |
| Dec 31, 2019 | $0.008 | OrdinaryDividend |
| Dec 18, 2019 | $0.043 | CapitalGainShortTerm |
| Nov 29, 2019 | $0.007 | OrdinaryDividend |
| Oct 31, 2019 | $0.007 | OrdinaryDividend |
| Sep 30, 2019 | $0.007 | OrdinaryDividend |
| Aug 30, 2019 | $0.007 | OrdinaryDividend |
| Jul 31, 2019 | $0.008 | OrdinaryDividend |
HOIBX - Fund Manager Analysis
Managers
Mauricio Agudelo
Start Date
Tenure
Tenure Rank
May 01, 2019
3.08
3.1%
Mauricio co-manages RE Advisers' fixed-income strategies. He joined RE Advisers in 2016. Prior to this role, he co-managed taxable fixed-income mutual fund portfolios for Calvert Investment Management, Inc. and held previous positions at Calvert in trading and securities analysis. Prior to joining Calvert, Mr. Agudelo completed internships at the United States Department of Agriculture in 2002 and 2003. He received a B.S. in finance from the University of Maryland,Robert H. Smith School of Business. He Minored in business culture and language, with a concentration in Spanish. He holds the Chartered Financial Analyst designation. Mr. Agudelo is a Senior Fixed-Income Portfolio Manager for RE Advisers and has managed or co-managed the Fund since May 2016. Mr. Naranjo is a Fixed-Income Portfolio Manager for RE Advisers and has co-managed the Fund since November 2018.
Ivan Naranjo
Start Date
Tenure
Tenure Rank
May 01, 2019
3.08
3.1%
Mr. Naranjo is a Fixed Income Portfolio Manager for RE Advisers. He was a senior fixed income trader at American Century Investments from 2016 to 2018, a senior investment risk analyst at Legg Mason & Co., LLC from 2015 to 2016, and an associate portfolio manager at Calvert Investment Management, LLC from 2010 to 2015, where he held different responsibilities including portfolio construction, securities analysis, trading, and risk monitoring for a number of taxable fixed income mutual fund portfolios. He received a B.S. in finance from the University of Maryland, Robert H. Smith School of Business. He joined RE Advisers in 2018.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 33.43 | 6.79 | 1.16 |