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Trending ETFs

Name

As of 11/01/2024

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

$20.82

$342 M

3.14%

$0.65

0.98%

Vitals

YTD Return

2.1%

1 yr return

6.7%

3 Yr Avg Return

-1.7%

5 Yr Avg Return

0.0%

Net Assets

$342 M

Holdings in Top 10

30.8%

52 WEEK LOW AND HIGH

$20.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.98%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 112.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 11/01/2024

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

$20.82

$342 M

3.14%

$0.65

0.98%

NCICX - Profile

Distributions

  • YTD Total Return 2.1%
  • 3 Yr Annualized Total Return -1.7%
  • 5 Yr Annualized Total Return 0.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.22%
DIVIDENDS
  • Dividend Yield 3.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    New Covenant Income Fund
  • Fund Family Name
    SEI Funds Complex
  • Inception Date
    Jun 28, 2000
  • Shares Outstanding
    18147100
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Julien Scholnick

Fund Description

Under normal market conditions, at least 80% of the Fund's net assets will be invested in a diversified portfolio of bonds and other debt obligations of varying maturities. Due to its investment strategy, the Fund may buy and sell securities and other instruments frequently.

The Fund seeks to invest consistent with social-witness principles established by the General Assembly of the Presbyterian Church (U.S.A.), as reflected in Guidelines put forth by the Committee on Mission Responsibility

Through Investment (the "Presbyterian Principles"). The Fund seeks to avoid investing in companies involved in tobacco, alcohol and gambling, along with for-profit prisons, and some companies related to weapons production, antipersonnel land mines, handguns and assault weapons. In addition, at times a company involved in serious human rights violations may also be screened out of the Fund. The Fund may also screen out companies when deemed appropriate to implement the Presbyterian Principles.

The Fund invests in corporate bonds. The Fund also invests in securities issued or guaranteed by the U.S. Government or one of its agencies or instrumentalities, such as the Government National Mortgage Association (GNMA), which are supported by the full faith and credit of the U.S. Government, and the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC), which are supported by the right of the issuer to borrow from the U.S. Treasury. The Fund may also invest in bonds of international corporations or foreign governments. In addition, the Fund invests in mortgage-backed securities (including To Be Announced Securities and Dollar Rolls) and asset-backed securities and may enter into fully-collateralized repurchase agreements.

At least 65% of the Fund's net assets will be invested in bonds that are rated within the four highest credit rating categories assigned by independent rating agencies, and the Fund will attempt to maintain an overall credit quality rating of AA or higher based on ratings assigned by nationally recognized statistical rating organizations, calculated on a weighted basis. The Fund may invest in unrated equivalents that may be considered to be investment grade, as determined by the Fund's Sub-Advisers. The Fund may invest up to 20% of its net assets in bonds that are rated below investment grade (junk bonds).

Up to 20% of the Fund's net assets may be invested in commercial paper within the two highest rating categories of independent rating agencies. The Fund may also invest up to 40% of its net assets in the fixed income securities of foreign issuers in any country, including developed or emerging markets. Foreign securities are selected on an individual basis without regard to any defined allocation among countries or geographic regions.

SEI Investments Management Corporation ("SIMC" or the "Adviser") seeks to enhance performance and reduce market risk by strategically allocating the Fund's assets among multiple sub-advisers (each, a "Sub-Adviser" and collectively, the "Sub-Advisers"). Sub-Advisers are selected for their experience in managing various kinds of fixed income securities, and each Sub-Adviser makes investment decisions based on an analysis of yield trends, credit ratings and other factors in its area of emphasis.

The Fund may invest in securities of any maturity, but expects its average maturity to range from four years to twelve years and its average duration to be between three and six years. Duration reflects the change in the value of a fixed income security that will result from a 1% change in interest rates. For example, a five year duration means a bond will decrease in value by 5% if interest rates rise 1% and increase in value by 5% if interest rates fall 1%.

The Fund may also invest in futures contracts (including futures on U.S. Treasury obligations and Eurodollar instruments), put and call options (including options on futures contracts), and swaps (including credit default swaps) for speculative or hedging purposes. Futures, options and swaps are used to synthetically obtain exposure to securities or baskets of securities and to manage the Fund's interest rate duration and yield curve exposure. These derivatives are also used to mitigate the Fund's overall level of risk and/or the Fund's risk to particular types of securities, currencies or market segments.

Investments for the Fund, both foreign and domestic, are selected based on the following criteria:

— the use of interest-rate and yield-curve analyses;

— the use of credit analyses, which indicate a security's rating and potential for appreciation; and

— use of the above disciplines to invest in high-yield bonds and fixed income securities issued by foreign and domestic governments and companies.

The remainder of the Fund's assets may be held in cash or cash equivalents.

A Sub-Adviser may sell a security when it becomes substantially overvalued, is experiencing deteriorating fundamentals, or as a result of changes in portfolio strategy. A security may also be sold and replaced with one that presents a better value.

Subject to the Presbyterian Principles and the investment criteria detailed above, the Fund's Sub-Advisers will also consider environmental, social, and governance (ESG) criteria in the selection of securities for the Fund's portfolio, which may include (among other items) consideration of issuers' business models, corporate governance policies, stakeholder relationships and history of controversies. Each Sub-Adviser has the ability to consider its own ESG criteria based on its own ESG methodologies and assessments or those of third-party providers. The consideration of such ESG criteria as part of the decision-making process may result in the selection of individual securities that are not in the Fund's benchmark, or the overweighting or underweight of individual securities relative to the benchmark.

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NCICX - Performance

Return Ranking - Trailing

Period NCICX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -5.7% 10.9% 38.28%
1 Yr 6.7% -1.8% 18.8% 89.66%
3 Yr -1.7%* -9.9% 27.5% 17.46%
5 Yr 0.0%* -7.5% 58.4% 48.00%
10 Yr 1.6%* -2.8% 73.7% 36.74%

* Annualized

Return Ranking - Calendar

Period NCICX Return Category Return Low Category Return High Rank in Category (%)
2023 2.2% -16.2% 8.1% 45.33%
2022 -12.6% -34.7% 131.9% 5.35%
2021 -3.5% -11.6% 4.4% 51.10%
2020 2.6% -10.1% 946.1% 74.26%
2019 4.6% -1.7% 16.9% 77.07%

Total Return Ranking - Trailing

Period NCICX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.1% -5.7% 10.9% 38.28%
1 Yr 6.7% -1.8% 18.8% 89.66%
3 Yr -1.7%* -9.9% 27.5% 17.46%
5 Yr 0.0%* -7.5% 58.4% 48.00%
10 Yr 1.6%* -2.8% 73.7% 36.74%

* Annualized

Total Return Ranking - Calendar

Period NCICX Return Category Return Low Category Return High Rank in Category (%)
2023 5.4% -11.3% 11.9% 74.77%
2022 -10.7% -32.2% 131.9% 6.40%
2021 -1.5% -9.4% 9.2% 69.96%
2020 6.1% -1.9% 1009.0% 87.30%
2019 7.1% 1.1% 21668.0% 85.11%

NAV & Total Return History


NCICX - Holdings

Concentration Analysis

NCICX Category Low Category High NCICX % Rank
Net Assets 342 M 2.9 M 314 B 72.70%
Number of Holdings 1355 1 17787 32.79%
Net Assets in Top 10 106 M 1.62 M 35.1 B 71.72%
Weighting of Top 10 30.80% 4.4% 432.9% 28.60%

Top 10 Holdings

  1. 3 MONTH SOFR FUT DEC25 FINANCIAL COMMODITY FUTURE. 8.76%
  2. US 10YR NOTE (CBT)SEP24 FINANCIAL COMMODITY FUTURE. 5.89%
  3. US TREASURY N/B 4.000000% 01/31/2029 3.42%
  4. US 10YR ULTRA FUT SEP24 FINANCIAL COMMODITY FUTURE. 2.96%
  5. 3 MONTH SOFR FUT DEC24 FINANCIAL COMMODITY FUTURE. 2.34%
  6. US TREASURY N/B 0.750000% 05/31/2026 2.02%
  7. US TREASURY N/B 4.000000% 02/15/2034 1.65%
  8. US TREASURY N/B 4.375000% 08/31/2028 1.36%
  9. US TREASURY N/B 3.500000% 01/31/2028 1.29%
  10. SEI DAILY INCOME TRUST GOVERNMENT FUND (#36) 1.09%

Asset Allocation

Weighting Return Low Return High NCICX % Rank
Bonds
98.18% 0.00% 993.61% 34.56%
Cash
1.21% -54.51% 237.69% 68.55%
Convertible Bonds
1.06% 0.00% 7.93% 65.43%
Other
0.10% -16.55% 52.94% 77.66%
Stocks
0.00% 0.00% 99.99% 42.74%
Preferred Stocks
0.00% 0.00% 71.02% 35.04%

Bond Sector Breakdown

Weighting Return Low Return High NCICX % Rank
Government
41.65% 0.00% 86.23% 15.07%
Securitized
34.54% 0.00% 98.40% 33.95%
Corporate
20.21% 0.00% 100.00% 85.24%
Cash & Equivalents
1.21% -0.46% 237.69% 65.27%
Municipal
0.73% 0.00% 100.00% 33.13%
Derivative
0.10% -1.58% 44.82% 39.55%

Bond Geographic Breakdown

Weighting Return Low Return High NCICX % Rank
US
98.18% 0.00% 993.61% 31.66%
Non US
0.00% 0.00% 30.95% 42.93%

NCICX - Expenses

Operational Fees

NCICX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.98% 0.01% 39.64% 26.60%
Management Fee 0.42% 0.00% 1.76% 75.05%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.20% 0.01% 0.50% 83.59%

Sales Fees

NCICX 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

NCICX 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.

NCICX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 112.00% 2.00% 493.39% 45.22%

NCICX - Distributions

Dividend Yield Analysis

NCICX Category Low Category High NCICX % Rank
Dividend Yield 3.14% 0.00% 10.11% 88.14%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

NCICX Category Low Category High NCICX % Rank
Net Income Ratio 1.22% -1.28% 4.79% 79.70%

Capital Gain Distribution Analysis

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

Distributions History

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NCICX - Fund Manager Analysis

Managers

Julien Scholnick


Start Date

Tenure

Tenure Rank

Apr 23, 2012

10.11

10.1%

– Western Asset Management Company, LLC – Portfolio Manager, 2003- – Salomon Smith Barney – Associate, Private Client Group, 2000-2001 – Digital Coast Partners – Senior Analyst, 1999-2000 – Arthur Andersen, LLP – Senior Analyst, 1997-1999 – Cornell University, M.B.A. – University of California, Los Angeles, B.A., magna cum laude – Chartered Financial Analyst

John Bellows


Start Date

Tenure

Tenure Rank

Oct 31, 2013

8.59

8.6%

– Western Asset Management Company, LLC – Portfolio Manager, 2012- – U.S. Department of the Treasury – Acting Assistant Secretary for Economic Policy; Deputy Assistant Secretary for Microeconomic Analysis; Senior Advisor in the Office of Economic Policy, 2009-2011 – University of California, Berkeley, PhD Economics – Dartmouth College, B.A. Economics, magna cum laude – Chartered Financial Analyst

S. Leech


Start Date

Tenure

Tenure Rank

Oct 31, 2014

7.59

7.6%

– Western Asset Management Company, LLC – Chief Investment Officer, 1990– – Greenwich Capital Markets – Portfolio Manager, 1988–1990 – The First Boston Corporation – Fixed Income Manager, 1980–1988 – National Bank of Detroit – Portfolio Manager, 1977–1980 – The Wharton School, University of Pennsylvania, M.B.A., B.S., B.A., summa cum laude, 1972–1976

Bill O'Malley


Start Date

Tenure

Tenure Rank

Jan 29, 2016

6.34

6.3%

James Gubitosi


Start Date

Tenure

Tenure Rank

Oct 31, 2017

4.58

4.6%

Jim joined IR+M in March 2007 and Mr. Gubitosi was previously an Analyst and Portfolio Manager with Income Research & Management (“IR+M”). Prior to IR+M, he was a Senior Analyst at Financial Architects Partners. Jim has a BSBA from Boston University School of Management (2004).

Richard Bamford


Start Date

Tenure

Tenure Rank

Oct 31, 2017

4.58

4.6%

Richard A. Bamford serves as a Portfolio Manager for the Fixed Income Team within SIMC's Investment Management Unit. Mr. Bamford is responsible for investment grade debt and municipal bond portfolios. Mr. Bamford's duties include manager analysis and selection, strategy development and enhancement as well as investment research. Mr. Bamford has over 20 years of investment experience in investment management. Prior to joining SEI in 1999, Mr. Bamford worked as a Municipal Credit Analyst for Vanguard. Mr. Bamford received a Bachelor of Science in Economics/Finance and Accounting from the University of Scranton and an M.B.A. with a concentration in Finance from St. Joseph's University.

Mark Lindbloom


Start Date

Tenure

Tenure Rank

Oct 31, 2019

2.58

2.6%

– Western Asset Management Company, LLC – Portfolio Manager, 2005- – Citigroup Asset Management – Portfolio Manager, 1986-2005 – Brown Brothers Harriman & Co. – Portfolio Manager, 1981-1986 – New York Life Ins. – Analyst, 1978-1980 – Pace University, M.B.A. – Rider University, B.S.

Frederick Marki


Start Date

Tenure

Tenure Rank

Oct 31, 2019

2.58

2.6%

Frederick R. Marki is a Portfolio manager of Western since 2005. He began his investment career in 1983 and has a BS from the Massachusetts Institute of Technology. Marki joined Western Asset in 2006. Prior to this, Marki was a director of Citigroup Asset Management and investment officer of the manager. and its predecessor companies.

Jake Remley


Start Date

Tenure

Tenure Rank

Dec 31, 2019

2.42

2.4%

Jake joined IR+M in July 2005. Prior to IR+M, he was an associate with Lehman Brothers Holdings. Previously, he was a Senior Consultant at Whitelight Systems, Inc. Jake has a BSE from Princeton University (1995) and an MBA from the Kellogg School of Management at Northwestern University (2002).

Bonnie Wongtrakool


Start Date

Tenure

Tenure Rank

Oct 31, 2021

0.58

0.6%

Ms. Wongtrakool has been employed by Western Asset as an investment professional for more than five years.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.79 1.16