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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

$8.82

$88.9 M

6.72%

$0.59

1.07%

Vitals

YTD Return

1.6%

1 yr return

11.2%

3 Yr Avg Return

1.7%

5 Yr Avg Return

N/A

Net Assets

$88.9 M

Holdings in Top 10

18.3%

52 WEEK LOW AND HIGH

$8.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.07%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

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

$8.82

$88.9 M

6.72%

$0.59

1.07%

PTCRX - Profile

Distributions

  • YTD Total Return 1.6%
  • 3 Yr Annualized Total Return 1.7%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 5.82%
DIVIDENDS
  • Dividend Yield 6.7%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Performance Trust Multisector Bond Fund
  • Fund Family Name
    Performance Trust Asset Management
  • Inception Date
    Dec 31, 2020
  • Shares Outstanding
    6770667
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Anthony Harris

Fund Description

The Fund seeks to achieve its investment objective by active allocation primarily in the fixed-income securities market. The Adviser uses a value-oriented strategy to select investments that the Adviser believes have superior risk-reward characteristics with respect to criteria such as price, interest rate sensitivity and credit quality.
Investments are selected for the Fund by applying a process whereby the Adviser makes a forward projection of an instrument’s total return characteristics over a variety of interest rate scenarios, yield curve shifts and time horizons. This process, along with other relative value
assessments, is applied on a top-down basis to determine allocations among sectors in the fixed-income universe. The process is also applied, along with in-depth credit assessments, on a bottom-up basis to select specific investments within each sector.These sectors may include, but are not limited to: U.S. government securities, corporate debt securities, including high-yield debt securities, municipal securities, mortgage-backed securities, commercial mortgage-backed securities, and other asset-backed securities.
The Adviser allocates the Fund’s assets across different sectors in response to the changing environment, which includes but is not limited to, financial, market, economic, and political factors, and trends or events that the Adviser’s investment process determines may affect the Fund’s investments. The Fund’s allocation to different sectors will change over the life of the Fund, sometimes quickly, and the Fund may invest without limit to any sector or number of sectors in the fixed-income universe.
The Fund may invest in securities of any credit quality and maturity. Depending upon the Adviser’s allocation among different sectors, the Fund may invest without limit in securities rated below investment grade, or unrated securities.
Under normal circumstances, the Fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in fixed-income instruments. The Fund’s investments in fixed-income instruments may consist of, but are not limited to, securities or other income producing instruments (such as loans) as follows: (1) securities issued or guaranteed by the U.S. Government, its agencies or sponsored corporations, (2) corporate obligations, (3) mortgage-backed securities (“MBS”) (including commercial mortgage-backed securities (“CMBS”) and residential mortgage-backed securities (“RMBS”)) and other asset-backed securities (“ABS”), collateralized mortgage obligations (“CMOs”), government mortgage pass-through securities, multi-class pass-through securities, private mortgage pass-through securities, stripped mortgage-backed securities (“SMBS”) (which include, interest-only and principal-only securities), and inverse floaters, (4) collateralized debt obligations (“CDOs”), including collateralized loan obligations (“CLOs”), (5) municipal securities and other debt obligations issued by state and local governments and government-sponsored entities, (6) distressed and defaulted securities, (7) payment-in-kind bonds, (8) zero-coupon bonds, (9) cash and cash equivalents, (10) other short-term investments including, but not limited to, commercial paper,
certificates of deposit, repurchase agreements and investments in money market funds or similar pooled investments, and (11) other instruments bearing fixed or variable interest rates of any maturity.
The Fund may invest in derivatives, specifically futures contracts, options and swaps, to achieve its investment objective or to attempt to hedge some of the Fund’s investment risk. The Fund may borrow to the maximum extent permitted by applicable law, which generally means that the Fund may borrow up to one-third (33 1/3%) of its total assets. The Fund may also invest in repurchase agreements and borrow through reverse repurchase agreements.
The Fund may allocate to sectors described above by investing in other investment companies, including but not limited to, other open-end or closed-end investment companies and exchange-traded funds (“ETFs”). The allocation amount may be limited by tax considerations or other factors.
The Adviser constructs the Fund’s investment portfolio with a target weighted average duration of no less than one and no more than ten. The duration of the Fund’s investment portfolio may vary materially from its target from time to time, and there is no assurance that the duration of the Fund’s investment portfolio will conform to these limits. Duration is used to estimate the sensitivity of the security’s price to changes in interest rates. The longer the duration of the Fund’s portfolio, the more sensitive its market value will be to changes in interest rates. For example, if interest rates decline by 1%, the market value of a portfolio with a duration of ten would rise by approximately 10%. Conversely, if interest rates increase by 1%, the market value of the portfolio would decline by approximately 10%.
The Fund’s portfolio managers may sell an investment to satisfy redemption requests, when an investment no longer satisfies the Fund’s investment criteria as described above, or when a more attractive investment opportunity becomes available. The Fund may engage in active and frequent trading of its portfolio.
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PTCRX - Performance

Return Ranking - Trailing

Period PTCRX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% -6.5% 5.7% 41.42%
1 Yr 11.2% -9.3% 24.0% 10.82%
3 Yr 1.7%* -16.7% 18.1% 22.28%
5 Yr N/A* -13.0% 15.2% N/A
10 Yr N/A* -13.4% 6.7% N/A

* Annualized

Return Ranking - Calendar

Period PTCRX Return Category Return Low Category Return High Rank in Category (%)
2023 3.6% -12.0% 15.7% 33.18%
2022 -14.7% -31.8% 18.4% 66.46%
2021 N/A -26.6% 25.7% N/A
2020 N/A -49.2% 18.7% N/A
2019 N/A -35.1% 15.3% N/A

Total Return Ranking - Trailing

Period PTCRX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.6% -6.5% 5.7% 41.42%
1 Yr 11.2% -9.3% 24.0% 10.82%
3 Yr 1.7%* -16.7% 18.1% 22.28%
5 Yr N/A* -13.0% 15.2% N/A
10 Yr N/A* -13.4% 6.7% N/A

* Annualized

Total Return Ranking - Calendar

Period PTCRX Return Category Return Low Category Return High Rank in Category (%)
2023 10.1% -7.0% 22.2% 18.67%
2022 -10.7% -31.8% 21.1% 63.77%
2021 N/A -13.5% 49.9% N/A
2020 N/A -28.6% 24.1% N/A
2019 N/A -4.8% 19.1% N/A

NAV & Total Return History


PTCRX - Holdings

Concentration Analysis

PTCRX Category Low Category High PTCRX % Rank
Net Assets 88.9 M 2.32 M 127 B 84.50%
Number of Holdings 96 2 10577 82.09%
Net Assets in Top 10 16.9 M -1.57 B 65.8 B 90.29%
Weighting of Top 10 18.29% 0.7% 170.6% 76.08%

Top 10 Holdings

  1. First American Government Obligations Fund 3.93%
  2. United States Treasury Note/Bond 2.47%
  3. United States Treasury Note/Bond 1.93%
  4. Exeter Automobile Receivables Trust 2021-1 1.50%
  5. Western Alliance Bank 1.46%
  6. WaMu Mortgage Pass-Through Certificates Series 2006-AR12 Trust 1.44%
  7. Benchmark 2021-B27 Mortgage Trust 1.43%
  8. Ford Motor Credit Co LLC 1.41%
  9. CCO Holdings LLC / CCO Holdings Capital Corp 1.37%
  10. GLS Auto Receivables Issuer Trust 2020-2 1.34%

Asset Allocation

Weighting Return Low Return High PTCRX % Rank
Bonds
89.43% -150.81% 203.29% 44.76%
Other
7.02% -72.32% 100.00% 35.05%
Cash
3.93% -94.66% 258.91% 47.95%
Convertible Bonds
2.14% 0.00% 33.50% 38.47%
Stocks
0.00% -1.60% 99.88% 98.63%
Preferred Stocks
0.00% 0.00% 30.46% 97.12%

Bond Sector Breakdown

Weighting Return Low Return High PTCRX % Rank
Corporate
42.78% 0.00% 96.66% 42.25%
Securitized
40.51% 0.00% 99.65% 22.22%
Municipal
8.84% 0.00% 54.26% 2.03%
Government
4.22% 0.00% 99.43% 70.74%
Cash & Equivalents
3.93% 0.00% 88.14% 40.49%
Derivative
0.00% -72.32% 37.37% 58.60%

Bond Geographic Breakdown

Weighting Return Low Return High PTCRX % Rank
US
89.43% -151.11% 203.29% 31.11%
Non US
0.00% 0.00% 67.77% 98.79%

PTCRX - Expenses

Operational Fees

PTCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.07% 0.01% 20.67% 55.52%
Management Fee 0.80% 0.00% 2.29% 74.40%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.70% N/A

Sales Fees

PTCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PTCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

PTCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 632.00% N/A

PTCRX - Distributions

Dividend Yield Analysis

PTCRX Category Low Category High PTCRX % Rank
Dividend Yield 6.72% 0.00% 18.15% 22.11%

Dividend Distribution Analysis

PTCRX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Monthly Quarterly

Net Income Ratio Analysis

PTCRX Category Low Category High PTCRX % Rank
Net Income Ratio 5.82% -1.55% 11.51% 7.70%

Capital Gain Distribution Analysis

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

Distributions History

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PTCRX - Fund Manager Analysis

Managers

Anthony Harris


Start Date

Tenure

Tenure Rank

Dec 31, 2020

1.41

1.4%

Mr. Harris served as a member of the PT Asset Management, LLC’s portfolio management team, and was co-portfolio manager of the PT Asset Management, LLC’s certain pooled investment vehicles and separately managed accounts. His responsibilities include portfolio construction, security selection, portfolio attribution, and risk management. Prior to joining the PT Asset Management, LLC in February 2009, he co-founded Six Degrees Capital Management in January 2007, an alternative fixed- income investment manager focused on securitized products. From 2001 to 2007, Mr. Harris originated, structured, and invested in securitized products at BMO Capital Markets Corp. and managed a multi-billion dollar portfolio of ABS, CDOs, and RMBS. Mr. Harris began his career with PricewaterhouseCoopers and passed the CPA exam in 1998. Mr. Harris received a Bachelor of Business Administration from University of Michigan Ross School of Business with an emphasis in Accounting, and a MBA from the University of Chicago Booth School of Business with an emphasis in Finance and Economics.

Lars Anderson


Start Date

Tenure

Tenure Rank

Dec 31, 2020

1.41

1.4%

Mr. Anderson serves as a member of the PTAM's portfolio management team. Mr. Anderson is responsible for the portfolio construction, security selection, and modeling securitized credit securities. Mr. Anderson joined the PTAM in January 2011 as an Analyst. In December 2017 he was promoted to Senior Analyst and in September 2020 he was named a Portfolio Manager of the PTAM. Mr. Anderson received a Bachelor of Science in Business and Economics with a concentration in Finance from North Park University and has been a CFA® charterholder since 2015.

G. Plaiss


Start Date

Tenure

Tenure Rank

Dec 31, 2020

1.41

1.4%

Mike brings over 15 years of experience managing institutional fixed-income portfolios. He currently manages investment portfolios across all of PTAM’s structured credit and municipal bond focused funds and separately managed accounts. Mike’s responsibilities include portfolio construction, security selection, portfolio attribution, modeling RMBS and municipal bond cash flows, and risk management. Prior to joining PTAM, Mike managed more than $700 million in municipal and corporate bonds, mortgage-backed securities, and other structured fixed-income for the Kentucky Farm Bureau, the state’s largest property and casualty insurance provider. Earlier in his career, Mike held positions at multiple banking institutions where he also managed diverse fixed income portfolios. Mike graduated from Indiana University, Bloomington with a Bachelor of Arts in Economics and is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19