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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

$11.14

$597 M

6.11%

$0.68

1.32%

Vitals

YTD Return

2.0%

1 yr return

9.5%

3 Yr Avg Return

5.7%

5 Yr Avg Return

5.5%

Net Assets

$597 M

Holdings in Top 10

37.6%

52 WEEK LOW AND HIGH

$11.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.32%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 397.79%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$2,500


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

$11.14

$597 M

6.11%

$0.68

1.32%

LCTRX - Profile

Distributions

  • YTD Total Return 2.0%
  • 3 Yr Annualized Total Return 5.7%
  • 5 Yr Annualized Total Return 5.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.28%
DIVIDENDS
  • Dividend Yield 6.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Leader Capital High Quality Income Fund
  • Fund Family Name
    Leader Funds Trust
  • Inception Date
    Jul 30, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Lekas

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets, plus any amount of borrowings for investment purposes, in high-quality income-producing debt securities. For the purposes of the Fund’s 80% investment policy, the Fund defines high-quality as being rated at the time of purchase as no lower than the A category by Standard & Poor’s Ratings Group, Moody’s Investors Service, or Fitch Ratings, Inc. The debt securities in which the Fund invests include the following U.S. dollar-denominated domestic and foreign securities:

bonds and corporate debt;
agency and non-agency commercial mortgage-backed securities (“CMBS”) and residential mortgage-backed securities (“RMBS”);
collateralized loan obligations (“CLOs”) that are backed by domestic and foreign debt obligations;
collateralized debt obligations (“CDOs”) that are backed by domestic and foreign debt obligations; and
U.S. government securities.

The Fund normally invests in debt securities with an interest rate that resets quarterly based on the Secured Overnight Financing Rate (“SOFR”), Effective Federal Funds Rate (“EFFR”), Overnight Bank Fund Rate (“OBFR”), or indexes designed to replace London Inter-Bank Offered Rate (“LIBOR”), which ceased publication on June 30, 2023. The Fund allocates assets across debt security types without restriction, subject to its 80% investment policy.

The Fund invests without restriction as to the maturity of any single debt security and its portfolio average effective duration (a measure of a security’s sensitivity to changes in prevailing interest rates). Generally, the Fund’s average effective duration will be 75% to 125% of the three-year average effective duration of the Morningstar® Core Bond Index, although the Fund’s average effective duration will change depending on market conditions and could be up to 15 years depending on prevailing interest rates. The Fund uses effective duration to measure the sensitivity of a debt security’s price to changes in interest rates. The longer a debt security’s duration, the more sensitive it will be to changes in interest rates. For example, when the level of interest rates increases by 1.00%, the price of a debt security or a portfolio of such securities having a duration of 5 years will decrease by about 5.00%. Conversely, when interest rates decrease by 1.00%, the price of a debt security or a portfolio of such securities having a duration of 5 years generally will increase by about 5.00%.

CMBS, RMBS, CLOs, and CDOs are single-purpose investment vehicles that hold baskets of loans and issue securities that are paid from the cash flows of the underlying loans. Normally, CMBS, RMBS, CLOs, and CDOs have multiple tranches with investors in the bottom tranches having last priority to receive payment. By investing in A-rated or better debt tranches, the Fund will not be less than third in priority for payment. Loans and loan participations may be unsecured, which means that they are not collateralized by any specific assets of the borrower. The Fund allocates assets across security types without restriction, subject to its 80% investment policy.

The Advisor utilizes a fundamental top-down analysis, meaning the Advisor analyzes the economy, interest rate cycles, the supply and demand for credit and the characteristics of individual securities in making investment selections for the Fund. The Advisor may sell a security if its value becomes unattractive, such as when its fundamentals deteriorate, its credit rating is downgraded (including, as described above, sales required when a security is downgraded to below an A-rating) or when other investment opportunities exist that may have more attractive yields. In making purchase decisions, if the expected term premium is greater for longer-term securities in the eligible maturity range, the Advisor will focus investment in the longer-term area, otherwise, the Fund will focus investment in the shorter-term area of the eligible maturity range.

As a result of its trading strategy, the Fund expects to engage in frequent portfolio transactions that will likely result in higher portfolio turnover and commissions than many investment companies.

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LCTRX - Performance

Return Ranking - Trailing

Period LCTRX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -6.0% 3.9% 0.89%
1 Yr 9.5% -10.3% 16.1% 0.70%
3 Yr 5.7%* -10.4% 26.2% 0.31%
5 Yr 5.5%* -6.6% 191.4% 3.40%
10 Yr 2.3%* -2.4% 73.7% 9.33%

* Annualized

Return Ranking - Calendar

Period LCTRX Return Category Return Low Category Return High Rank in Category (%)
2023 2.6% -16.2% 8.1% 26.26%
2022 0.0% -34.7% 131.9% 0.30%
2021 0.3% -11.6% 4.4% 0.74%
2020 10.6% -10.1% 946.1% 5.79%
2019 -1.2% -1.7% 156.4% 99.66%

Total Return Ranking - Trailing

Period LCTRX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -6.0% 3.9% 0.89%
1 Yr 9.5% -10.3% 16.1% 0.70%
3 Yr 5.7%* -10.4% 26.2% 0.31%
5 Yr 5.5%* -6.6% 191.4% 3.40%
10 Yr 2.3%* -2.4% 73.7% 9.33%

* Annualized

Total Return Ranking - Calendar

Period LCTRX Return Category Return Low Category Return High Rank in Category (%)
2023 10.0% -11.3% 11.0% 0.30%
2022 2.4% -32.2% 131.9% 0.30%
2021 2.0% -9.4% 9.2% 2.53%
2020 12.1% -1.9% 1009.0% 8.73%
2019 1.1% 1.1% 21668.0% 100.00%

NAV & Total Return History


LCTRX - Holdings

Concentration Analysis

LCTRX Category Low Category High LCTRX % Rank
Net Assets 597 M 2.73 M 292 B 69.04%
Number of Holdings 140 1 17889 91.88%
Net Assets in Top 10 168 M -106 M 36.5 B 60.86%
Weighting of Top 10 37.63% 4.4% 134.1% 21.75%

Top 10 Holdings

  1. First American GovernmentObligations Fund, Class X 20.39%
  2. UNITED STATES TREAS BILLS DT012623-012524 2.21%
  3. BLACKRC BAKER CLO LTD2021-1 20340117 FLT 2.15%
  4. CARLYLE GLOBAL MARKETSTRATEGIES 20361025 FLT 2.13%
  5. ELEVATION CLO LTD 23-17A20361020 FLT 2.01%
  6. DIAMETER CAPITAL CLO23-5A A2 20361015 FLT 1.80%
  7. DRYDEN CLO LTD 2023-10720350815 FLT 1.79%
  8. ELM24 2023-3A C20331211 FLT 1.79%
  9. LOANCORE 2021-CRE5 ISSUER LTD20360715 FLT 1.75%
  10. CTAGON INV PRT 2017-31R2 LTD20300722 FLT 1.61%

Asset Allocation

Weighting Return Low Return High LCTRX % Rank
Bonds
89.48% 0.00% 215.98% 72.85%
Cash
20.39% -54.51% 88.26% 2.05%
Convertible Bonds
1.50% 0.00% 7.93% 47.19%
Stocks
0.17% 0.00% 99.93% 14.75%
Preferred Stocks
0.00% 0.00% 74.68% 54.60%
Other
0.00% -13.23% 58.65% 81.02%

Stock Sector Breakdown

Weighting Return Low Return High LCTRX % Rank
Utilities
0.00% 0.00% 100.00% 34.90%
Technology
0.00% 0.00% 43.45% 27.45%
Real Estate
0.00% 0.00% 99.26% 29.41%
Industrials
0.00% 0.00% 48.31% 43.53%
Healthcare
0.00% 0.00% 17.70% 32.55%
Financial Services
0.00% 0.00% 100.00% 40.00%
Energy
0.00% 0.00% 100.00% 2.35%
Communication Services
0.00% 0.00% 100.00% 37.65%
Consumer Defense
0.00% 0.00% 99.67% 30.59%
Consumer Cyclical
0.00% 0.00% 100.00% 39.61%
Basic Materials
0.00% 0.00% 100.00% 34.12%

Stock Geographic Breakdown

Weighting Return Low Return High LCTRX % Rank
US
0.17% 0.00% 99.93% 14.68%
Non US
0.00% 0.00% 86.52% 38.65%

Bond Sector Breakdown

Weighting Return Low Return High LCTRX % Rank
Securitized
70.74% 0.00% 98.40% 6.01%
Cash & Equivalents
20.39% 0.00% 88.06% 3.82%
Corporate
12.40% 0.00% 100.00% 91.53%
Derivative
0.00% -5.38% 58.65% 51.96%
Municipal
0.00% 0.00% 100.00% 82.17%
Government
0.00% 0.00% 86.23% 97.83%

Bond Geographic Breakdown

Weighting Return Low Return High LCTRX % Rank
US
89.48% 0.00% 215.98% 67.51%
Non US
0.00% 0.00% 39.04% 60.76%

LCTRX - Expenses

Operational Fees

LCTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.32% 0.01% 39.10% 15.19%
Management Fee 0.65% 0.00% 1.76% 97.92%
12b-1 Fee 0.50% 0.00% 1.00% 69.51%
Administrative Fee N/A 0.01% 0.50% 64.83%

Sales Fees

LCTRX 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% 5.00% N/A

Trading Fees

LCTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 18.75%

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.

LCTRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 397.79% 2.00% 493.39% 90.21%

LCTRX - Distributions

Dividend Yield Analysis

LCTRX Category Low Category High LCTRX % Rank
Dividend Yield 6.11% 0.00% 9.75% 1.66%

Dividend Distribution Analysis

LCTRX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

LCTRX Category Low Category High LCTRX % Rank
Net Income Ratio 2.28% -1.28% 4.79% 17.28%

Capital Gain Distribution Analysis

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

Distributions History

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LCTRX - Fund Manager Analysis

Managers

John Lekas


Start Date

Tenure

Tenure Rank

Jul 30, 2010

11.84

11.8%

John E. Lekas serves as the portfolio manager and is responsible for the investment decisions. Prior to founding Leader Capital Corp. in 1997, He served as a portfolio manager at Smith Barney where he focused on discretionary management of bond portfolios. He received a bachelor's degree in finance from the University of Oregon.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.43 6.82 1.16