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Trending ETFs

Name

As of 03/27/2024

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

$22.47

$555 M

1.45%

$0.32

1.44%

Vitals

YTD Return

6.9%

1 yr return

19.6%

3 Yr Avg Return

6.4%

5 Yr Avg Return

8.7%

Net Assets

$555 M

Holdings in Top 10

34.7%

52 WEEK LOW AND HIGH

$22.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.44%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 41.42%

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$10,000

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$22.47

$555 M

1.45%

$0.32

1.44%

LCORX - Profile

Distributions

  • YTD Total Return 6.9%
  • 3 Yr Annualized Total Return 6.4%
  • 5 Yr Annualized Total Return 8.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.31%
DIVIDENDS
  • Dividend Yield 1.4%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    LEUTHOLD CORE INVESTMENT FUND
  • Fund Family Name
    Leuthold
  • Inception Date
    Feb 04, 1998
  • Shares Outstanding
    12387146
  • Share Class
    Individual
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Douglas Ramsey

Fund Description

The Fund is a “flexible” fund, meaning that it allocates its investments among:

Common stocks and other equity securities (including common stocks, preferred stocks, convertible preferred stocks, warrants, options, and American Depository Receipts, and may engage in short sales of equity securities);

Bonds and other debt securities (including U.S. and some developed and emerging foreign government-related securities (including those issued by sovereign and local governments and their sponsored entities), U.S. and some foreign corporate securities, and securitized debts, both above and below investment grade), junk bonds and speculative investments;

Real estate investment trusts;

Commodities (including both physical commodities and commodity-based exchange-traded funds); and

Money market instruments;

in proportions which reflect the judgment of Leuthold Weeden Capital Management (referred to as the Adviser) of the potential returns and risks of each asset class. The Adviser considers a number of factors when making these allocations, including economic conditions and monetary factors, inflation and interest rate levels and trends, investor confidence, and technical stock market measures.

The Fund expects that normally:

30% to 70% of its net assets will be invested in common stocks and other equity securities;

30% to 70% of its net assets will be invested in bonds and other debt securities (other than money market instruments), except during prolonged periods of low interest rates; and

up to 20% of its assets will be invested in money market instruments.

The Fund’s investments in common stocks and other equity securities may consist of:

Large, mid, or small capitalization common stocks;

Growth stocks, value stocks, or cyclical stocks;

Aggressive stocks or defensive stocks;

Stocks in any industry or sector;

Equity mutual funds and exchange-traded funds;

Stocks in emerging and less developed markets;

Common stocks of foreign issuers; and

Options.

In investing in equity securities and debt securities, the Fund uses a disciplined, unemotional, quantitative investment approach that is based on the belief investors can achieve superior investment performance through group selection (Select Industries Strategy).

Pursuant to the Select Industries Strategy, the Adviser believes that as shifts among industry groups in the equity market have become more dramatic, group

selection has become as important as individual stock selection in determining investment performance. The Adviser considers a group to be a collection of stocks whose investment performance tends to be similarly influenced by a variety of factors. The Adviser currently monitors about 120 groups. The major types of groups the Adviser monitors as part of the Select Industries Strategy are Industry Specific Groups comprised of narrower themes. Examples include “Airlines,” “Health Care Facilities” or “Semiconductors”.

The Adviser continuously updates its investment discipline and adjusts the Fund’s portfolio as necessary to keep the Fund invested in stocks in those groups which the Adviser believes are the most attractive. Such adjustments usually result in high portfolio turnover.

The Fund may invest in U.S. and some foreign (developed and emerging) government-related securities, including those issued by sovereign and local governments and their sponsored entities, U.S. and some foreign corporate securities, and securitized debts. The Funds may invest in both above and below investment grade securities or mutual funds and exchange-traded funds that invest in these securities.

The Fund may engage in short sales of index-related and other equity securities to reduce its equity exposure or to profit from an anticipated decline in the price of the security sold short.

The Fund’s investments are allocated among common stocks, corporate bonds, government bonds, real estate investment trusts, commodities (including both physical commodities and commodity-based exchange-traded funds), and cash equivalents. Portfolio weightings in these asset classes are driven by models that (1) determine the relative appeal of each asset class in relation to the others, and (2) the return potential of each asset class on an absolute, or stand-alone, basis.

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LCORX - Performance

Return Ranking - Trailing

Period LCORX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.9% -0.9% 17.8% 25.55%
1 Yr 19.6% -2.2% 75.0% 18.58%
3 Yr 6.4%* -22.7% 10.8% 7.11%
5 Yr 8.7%* -11.4% 20.9% 9.09%
10 Yr 6.5%* -4.6% 9.9% 8.70%

* Annualized

Return Ranking - Calendar

Period LCORX Return Category Return Low Category Return High Rank in Category (%)
2023 5.5% -18.9% 60.2% 57.71%
2022 -13.0% -48.5% 0.1% 22.91%
2021 9.7% -19.0% 48.3% 19.47%
2020 9.8% -16.5% 52.8% 22.33%
2019 9.5% -8.5% 27.3% 55.71%

Total Return Ranking - Trailing

Period LCORX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.9% -0.9% 17.8% 25.55%
1 Yr 19.6% -2.2% 75.0% 18.58%
3 Yr 6.4%* -22.7% 10.8% 7.11%
5 Yr 8.7%* -11.4% 20.9% 9.09%
10 Yr 6.5%* -4.6% 9.9% 8.70%

* Annualized

Total Return Ranking - Calendar

Period LCORX Return Category Return Low Category Return High Rank in Category (%)
2023 11.7% -11.7% 61.8% 37.89%
2022 -6.8% -48.5% 4.6% 9.69%
2021 15.2% -14.2% 48.3% 26.11%
2020 10.1% -11.7% 77.4% 36.28%
2019 11.6% -3.9% 30.2% 70.95%

NAV & Total Return History


LCORX - Holdings

Concentration Analysis

LCORX Category Low Category High LCORX % Rank
Net Assets 555 M 1.67 M 13.2 B 34.06%
Number of Holdings 210 2 1954 17.03%
Net Assets in Top 10 185 M 1.26 M 10.4 B 41.92%
Weighting of Top 10 34.66% 0.4% 149.2% 85.59%

Top 10 Holdings

  1. Fidelity Government Portfolio 15.26%
  2. Microsoft Corp 3.04%
  3. United States Treasury Bill 2.81%
  4. Lam Research Corp 2.45%
  5. Apple Inc 2.21%
  6. United States Treasury Note/Bond 1.93%
  7. French Republic Government Bond OAT 1.83%
  8. Meta Platforms Inc 1.77%
  9. Applied Materials Inc 1.73%
  10. Alphabet Inc 1.64%

Asset Allocation

Weighting Return Low Return High LCORX % Rank
Stocks
63.30% 0.00% 137.56% 66.38%
Cash
28.11% -33.22% 99.05% 19.65%
Bonds
8.59% 0.00% 106.59% 34.06%
Convertible Bonds
0.11% 0.00% 8.92% 38.43%
Preferred Stocks
0.00% 0.00% 5.36% 25.33%
Other
0.00% -29.71% 128.17% 43.67%

Stock Sector Breakdown

Weighting Return Low Return High LCORX % Rank
Financial Services
22.62% 0.00% 98.22% 5.13%
Technology
21.18% 0.00% 85.77% 25.64%
Healthcare
12.55% 0.00% 38.63% 41.03%
Industrials
11.01% 0.00% 23.85% 23.59%
Energy
9.54% 0.00% 60.89% 20.51%
Consumer Cyclical
8.87% 0.00% 25.83% 47.69%
Consumer Defense
8.57% 0.00% 37.51% 29.74%
Basic Materials
5.66% 0.00% 56.73% 27.69%
Utilities
0.00% 0.00% 91.12% 90.26%
Real Estate
0.00% 0.00% 99.45% 89.23%
Communication Services
0.00% 0.00% 21.61% 89.74%

Stock Geographic Breakdown

Weighting Return Low Return High LCORX % Rank
US
61.94% 0.00% 137.56% 63.32%
Non US
1.36% -1.94% 41.50% 22.71%

Bond Sector Breakdown

Weighting Return Low Return High LCORX % Rank
Government
18.66% 0.00% 99.78% 60.26%
Cash & Equivalents
15.25% 0.00% 93.38% 24.89%
Corporate
7.66% 0.00% 98.28% 38.43%
Securitized
1.94% 0.00% 52.99% 37.12%
Derivative
0.00% -15.09% 128.17% 37.99%
Municipal
0.00% 0.00% 19.13% 43.23%

Bond Geographic Breakdown

Weighting Return Low Return High LCORX % Rank
US
5.83% 0.00% 92.67% 34.06%
Non US
2.76% 0.00% 27.25% 17.03%

LCORX - Expenses

Operational Fees

LCORX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.44% 0.49% 5.81% 63.32%
Management Fee 0.90% 0.00% 1.50% 50.22%
12b-1 Fee N/A 0.00% 1.00% 41.24%
Administrative Fee 0.05% 0.05% 0.70% 2.08%

Sales Fees

LCORX 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% 1.00% N/A

Trading Fees

LCORX 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.

LCORX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 41.42% 1.75% 441.00% 22.04%

LCORX - Distributions

Dividend Yield Analysis

LCORX Category Low Category High LCORX % Rank
Dividend Yield 1.45% 0.00% 24.73% 56.77%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

LCORX Category Low Category High LCORX % Rank
Net Income Ratio -0.31% -2.01% 13.72% 70.74%

Capital Gain Distribution Analysis

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

Distributions History

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LCORX - Fund Manager Analysis

Managers

Douglas Ramsey


Start Date

Tenure

Tenure Rank

Jan 31, 2011

11.34

11.3%

Doug is the Chief Investment Officer of The Leuthold Group, LLC, and a Portfolio Manager. In addition to his CIO and Portfolio Management responsibilities heading both the asset allocation and investment strategy committees, Doug maintains the firm’s proprietary Major Trend Index – a multi-factor model which evaluates the underlying health of the markets, both domestically and globally. He is also the lead writer for The Leuthold Group’s highly regarded institutional research publications. Doug is an accomplished speaker and has presented at a range of engagements, including the Morningstar Investment Conference, CFA societies across the U.S., Minnesota CPA Society, Minneapolis Business Bank, and a variety of Advisor and private client events throughout the country. Additionally, Doug is frequently used as a resource by the financial press, including appearances on CNBC and Bloomberg TV; he is quoted regularly in Barron’s and is often referred to by the leading trade journals for a variety of topics. He is a member of the Charles Dow Award committee, and the Market Technicians Association. Prior to joining the Leuthold team, Doug was Chief Investment Officer of Treis Capital in Des Moines, Iowa, where he managed equity portfolios and published a quantitative equity research product. Prior to that he worked at Principal Global Investors. Doug is a Phi Beta Kappa graduate of Coe College in Cedar Rapids, IA, where he earned a Bachelor’s degree in Economics and Business Administration. He also played four years of varsity basketball at Coe, earning Academic All-America honors in 1986-87. Doug received an MA degree in Economics from The Ohio State University in 1990; he earned his CFA designation in 1996 and became a Chartered Market Technician in 2003.

Chun Wang


Start Date

Tenure

Tenure Rank

Aug 15, 2013

8.8

8.8%

Chun is a Senior Analyst and Portfolio Manager. Chun is also a member of the asset allocation committee and the investment strategy committee. In addition to his Portfolio Management responsibilities, Chun is a contributing writer to The Leuthold Group's highly regarded institutional publications. Chun performs both top-down and bottom-up research to identify significant cross-asset trends and themes among major asset classes including global equities, fixed income, and currencies. Prior to joining the Leuthold team in June 2009, Chun was a Quantitative Equities Portfolio Manager and Head of Quantitative Research at LIM Advisors, a Hong-Kong based Asia-Pacific focused multi-strategy hedge fund. Prior to that, Chun was with Ned Davis Research for 11 years as Director of Research & Development, responsible for quantitative product development and a quantitative research publication called Quantitative Review. Chun also worked as an equity analyst with Shanghai International Securities in China. In addition to his global experience, Chun has a BS degree in Economics from Xiamen University and a MS degree in Economics from the University of Florida. Chun holds a number of professional designations and certifications including the Chartered Financial Analyst (CFA), Professional Risk Manager (PRM), Certified JAVA Programmer, SAS Certified Professional, and the Certificate in Financial Engineering from UC Berkeley.

Greg Swenson


Start Date

Tenure

Tenure Rank

Jun 30, 2015

6.92

6.9%

In addition to theLeuthold SP Sector Rotation ETF Portfolio, Greg is a Co-Portfolio Manager for the Leuthold Select Industries, Leuthold Global Industries, Grizzly Short, Leuthold Core, and Leuthold Global Funds. He is also a member of the investment strategy committee and contributes to The Leuthold Group's institutional research publications. He joined The Leuthold Group in 2006 to aid in the development of the Global Industries framework and continues to monitor and enhance the quantitative disciplines that drive Leuthold's equity strategies. Before joining The Leuthold Group, he worked for FactSet Research Systems in Chicago as a Consultant and Account Executive.  While working for FactSet Greg worked extensively with the research team at Leuthold. Greg is a CFA charterholder and graduated with honors from the University of Iowa with a Bachelor of Business Administration in Finance.

Scott Opsal


Start Date

Tenure

Tenure Rank

Oct 21, 2021

0.61

0.6%

Scott is Director of Research & Equities and a Portfolio Manager. His responsibilities include conducting in-depth research projects and exploring new fundamental and quantitative studies that support the firm’s portfolios and strategy recommendations. Scott brings over thirty years of professional investment experience to the Leuthold team, previously serving as Chief Investment Officer of Invista Capital Management and Head of Equities at Members Capital Advisors. Scott was also the Director of the Applied Investments Program and taught Security Analysis and investment classes at the University of Wisconsin–Whitewater. In his leadership roles, Scott was involved in all aspects of firm management; establishing policies on risk management, asset allocation, quantitative techniques, institutional grade research and portfolio management processes. Previous portfolio management assignments included international equity, domestic equity, taxable investing and convertible securities. His top quartile and five-star performance records led to twice being named to Barron’s Top 100 Mutual Fund Managers. Scott received his undergraduate degree from Drake University in 1982 and an MBA from the University of Minnesota in 1983. He earned the Chartered Financial Analyst designation in 1986 and recently served on the CFA Society Madison Board of Directors.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.83 6.59 13.0