Name
As of 05/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
5.2%
1 yr return
12.1%
3 Yr Avg Return
0.9%
5 Yr Avg Return
2.0%
Net Assets
$24.1 M
Holdings in Top 10
21.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.04%
SALES FEES
Front Load 5.00%
Deferred Load N/A
TRADING FEES
Turnover 309.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/03/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
PWDAX - Profile
Distributions
- YTD Total Return 5.2%
- 3 Yr Annualized Total Return 0.9%
- 5 Yr Annualized Total Return 2.0%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.65%
- Dividend Yield 1.8%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameDonoghue Forlines Dividend Fund
-
Fund Family NameNavigator Funds
-
Inception DateNov 07, 2013
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJeffrey Thompson
Fund Description
The Funds investment adviser seeks to achieve the Funds investment objectives by seeking to track the FCF Risk Managed Sector Neutral Dividend Index (the Dividend Index) that provides a formulaic methodology for allocating investment between securities of issuers who demonstrate higher free cash flow and dividend yield and short-term treasuries (maturity of 1 to 3 years).
The methodology of the Dividend Index is designed to convey the benefits of high free cash flow and dividend yield, sector diversification and equal weighting. In seeking to track the Dividend Index, the adviser buys equity securities in the Fund as described below when the indexs indicators are positive and sells them when its indicators are significantly negative. As described below, the Fund typically invests in as many as 50 equity securities but this may fluctuate based on the Index.
The Dividend Index is reconstituted and rebalanced quarterly during March, June, September, and December. The Dividend Index establishes an equity portfolio typically consisting of up to 50 equity securities based on a combined profitability rank (measured by free cash flow over total equity) and dividend yield rank (measured by dividend over market capitalization) from the constituents of the Russell 1000 Value Index and a U.S. Treasury portfolio consisting of short-term treasury securities or short-term treasury ETFs. Free cash flow is the amount of cash a company produces after paying for operating and capital expenses. Only companies with positive free cash flow, payment of cash dividends for the previous four consecutive quarters, and meeting an average daily traded volume minimum over the previous six months are eligible for inclusion in the Dividend Index. Upon selection each security will receive an equal weighting with sector weightings based on the current FactSet RBICS sector weights of the Russell 1000 Value Index. If there are not enough eligible securities within a sector, inclusion will be stopped for that sector at the number of eligible securities.
The Dividend Index then applies the Advisers defensive tactical overlays as described below. The adviser buys equity securities when its indicators are positive and sells them when its indicators are significantly negative.
In following the Dividend Indexs methodology, the Fund will allocate its assets based on two separate exponential moving average indicators (one shorter-term and one longer-term):
● | Exponential Moving Average Indicators –An indexs exponential moving average value is the weighted average of its value over a certain period of time (e.g., 50 days). An exponential moving average gives more weighting to more recent values for the relevant time period. |
The Index and the Fund will allocate 100% to the equity portfolio when the shorter-term exponential moving average indicator is in a bullish position. When the shorter-term exponential moving average indicator is in a defensive position, the Index and the Fund will allocate 50% of assets to U.S. Treasury portfolio. When both the shorter-term and longer-term exponential moving average indicators are in a defensive position, the Index and the Fund will allocate 100% to the U.S Treasury portfolio.
From time to time, the adviser anticipates that its defensive tactical overlay may trigger multiple positive or negative indicators over a period of several days. In such cases, the adviser, in an effort to avoid incurring additional brokerage costs to the Fund, may choose not to implement a particular buy or sell signal at the time of the trigger. Absent such circumstances, the Fund will not be actively managed and will seek to track the Dividend Indexs methodology.
While the Fund is a diversified fund, it may invest in fewer securities that other diversified funds. Accordingly, the Funds performance may be more sensitive to market changes than other diversified funds. In seeking to track the methodology of the Dividend Index, the Fund may engage in frequent buying and selling of portfolio securities resulting in a higher turnover rate.
Under normal circumstances, the Fund will invest at least 80% of its net assets in dividend producing securities. The Fund will typically invests in as many as 50 common stocks from the universe of stocks represented in the Russell 1000 Value Index. If the Fund holds an investment in common stock of a company that is removed from the Dividend Index, that position will be sold.
PWDAX - Performance
Return Ranking - Trailing
Period | PWDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.2% | -4.4% | 11.1% | 12.16% |
1 Yr | 12.1% | -5.9% | 52.6% | 38.01% |
3 Yr | 0.9%* | -23.8% | 9.5% | 35.45% |
5 Yr | 2.0%* | -12.0% | 16.3% | 84.95% |
10 Yr | 2.8%* | -5.0% | 9.4% | 73.13% |
* Annualized
Return Ranking - Calendar
Period | PWDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -2.0% | -18.9% | 60.2% | 94.12% |
2022 | -10.9% | -48.5% | 0.1% | 16.82% |
2021 | 28.5% | -19.0% | 48.3% | 2.28% |
2020 | -10.0% | -16.5% | 52.8% | 98.09% |
2019 | -5.3% | -8.5% | 27.3% | 95.59% |
Total Return Ranking - Trailing
Period | PWDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.2% | -4.4% | 11.1% | 12.16% |
1 Yr | 12.1% | -5.9% | 52.6% | 38.01% |
3 Yr | 0.9%* | -23.8% | 9.5% | 35.45% |
5 Yr | 2.0%* | -12.0% | 16.3% | 84.95% |
10 Yr | 2.8%* | -5.0% | 9.4% | 73.13% |
* Annualized
Total Return Ranking - Calendar
Period | PWDAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -0.4% | -11.7% | 61.8% | 95.02% |
2022 | -10.0% | -48.5% | 4.6% | 25.45% |
2021 | 31.3% | -14.2% | 48.3% | 1.83% |
2020 | -6.8% | -11.7% | 77.4% | 98.56% |
2019 | -3.1% | -3.9% | 28.4% | 99.51% |
NAV & Total Return History
PWDAX - Holdings
Concentration Analysis
PWDAX | Category Low | Category High | PWDAX % Rank | |
---|---|---|---|---|
Net Assets | 24.1 M | 1.98 M | 13.3 B | 88.29% |
Number of Holdings | 52 | 2 | 1954 | 50.45% |
Net Assets in Top 10 | 5.32 M | 1.16 M | 10.4 B | 95.05% |
Weighting of Top 10 | 21.60% | 0.4% | 120.6% | 98.20% |
Top 10 Holdings
- COMERICA INC 2.29%
- DISCOVER FINANCI 2.22%
- SYNCHRONY FINANC 2.17%
- VIATRIS INC 2.17%
- CATERPILLAR INC 2.17%
- CAPITAL ONE FINA 2.16%
- ONEMAIN HOLDINGS 2.14%
- SIMON PROPERTY 2.12%
- CIGNA GROUP/THE 2.10%
- FERGUSON PLC 2.08%
Asset Allocation
Weighting | Return Low | Return High | PWDAX % Rank | |
---|---|---|---|---|
Stocks | 98.59% | 0.00% | 137.56% | 23.87% |
Cash | 1.46% | -33.22% | 99.05% | 72.52% |
Preferred Stocks | 0.00% | 0.00% | 5.36% | 36.49% |
Other | 0.00% | -29.71% | 128.17% | 53.60% |
Convertible Bonds | 0.00% | 0.00% | 8.92% | 64.41% |
Bonds | 0.00% | 0.00% | 106.59% | 54.95% |
Stock Sector Breakdown
Weighting | Return Low | Return High | PWDAX % Rank | |
---|---|---|---|---|
Financial Services | 19.59% | 0.00% | 98.22% | 11.70% |
Healthcare | 19.39% | 0.00% | 38.63% | 13.30% |
Technology | 9.99% | 0.00% | 85.77% | 75.53% |
Consumer Defense | 8.67% | 0.00% | 37.51% | 28.72% |
Industrials | 8.26% | 0.00% | 23.85% | 62.77% |
Communication Services | 7.17% | 0.00% | 21.61% | 27.66% |
Utilities | 6.34% | 0.00% | 91.12% | 19.15% |
Energy | 6.11% | 0.00% | 60.89% | 43.62% |
Consumer Cyclical | 5.64% | 0.00% | 25.83% | 64.36% |
Basic Materials | 4.80% | 0.00% | 56.73% | 34.04% |
Real Estate | 4.05% | 0.00% | 99.45% | 41.49% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | PWDAX % Rank | |
---|---|---|---|---|
US | 98.59% | 0.00% | 137.56% | 23.42% |
Non US | 0.00% | -1.94% | 41.50% | 40.99% |
PWDAX - Expenses
Operational Fees
PWDAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.04% | 0.49% | 10.24% | 35.14% |
Management Fee | 1.00% | 0.00% | 1.50% | 68.47% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 40.82% |
Administrative Fee | N/A | 0.05% | 0.70% | 41.63% |
Sales Fees
PWDAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 5.00% | 2.50% | 5.75% | 67.57% |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
PWDAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.50% | 2.00% | 71.79% |
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.
PWDAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 309.00% | 1.75% | 441.00% | 92.18% |
PWDAX - Distributions
Dividend Yield Analysis
PWDAX | Category Low | Category High | PWDAX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.85% | 0.00% | 25.26% | 59.91% |
Dividend Distribution Analysis
PWDAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annual | Annual | Annual |
Net Income Ratio Analysis
PWDAX | Category Low | Category High | PWDAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.65% | -2.01% | 13.72% | 21.62% |
Capital Gain Distribution Analysis
PWDAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.041 | OrdinaryDividend |
Dec 27, 2023 | $0.011 | OrdinaryDividend |
Sep 29, 2023 | $0.039 | OrdinaryDividend |
Jun 30, 2023 | $0.030 | OrdinaryDividend |
Mar 31, 2023 | $0.046 | OrdinaryDividend |
Dec 28, 2022 | $0.028 | OrdinaryDividend |
Sep 30, 2022 | $0.016 | OrdinaryDividend |
Jun 30, 2022 | $0.019 | OrdinaryDividend |
Mar 31, 2022 | $0.025 | OrdinaryDividend |
Dec 29, 2021 | $0.069 | OrdinaryDividend |
Sep 29, 2021 | $0.049 | OrdinaryDividend |
Jun 29, 2021 | $0.042 | OrdinaryDividend |
Mar 30, 2021 | $0.034 | OrdinaryDividend |
Dec 28, 2020 | $0.254 | OrdinaryDividend |
Sep 29, 2020 | $0.010 | OrdinaryDividend |
Dec 26, 2019 | $0.093 | OrdinaryDividend |
Sep 27, 2019 | $0.042 | OrdinaryDividend |
Jun 27, 2019 | $0.050 | OrdinaryDividend |
Mar 28, 2019 | $0.005 | OrdinaryDividend |
Sep 27, 2018 | $0.075 | OrdinaryDividend |
Jun 28, 2018 | $0.049 | OrdinaryDividend |
Mar 28, 2018 | $0.081 | OrdinaryDividend |
Sep 28, 2017 | $0.069 | OrdinaryDividend |
Jun 29, 2017 | $0.072 | OrdinaryDividend |
Mar 30, 2017 | $0.078 | OrdinaryDividend |
Dec 28, 2016 | $0.061 | OrdinaryDividend |
Sep 29, 2016 | $0.062 | OrdinaryDividend |
Jun 29, 2016 | $0.016 | OrdinaryDividend |
Sep 29, 2015 | $0.020 | OrdinaryDividend |
Jun 29, 2015 | $0.056 | OrdinaryDividend |
Mar 30, 2015 | $0.075 | OrdinaryDividend |
Sep 29, 2014 | $0.081 | OrdinaryDividend |
Jun 27, 2014 | $0.049 | OrdinaryDividend |
Mar 28, 2014 | $0.051 | OrdinaryDividend |
Dec 27, 2013 | $0.031 | OrdinaryDividend |
PWDAX - Fund Manager Analysis
Managers
Jeffrey Thompson
Start Date
Tenure
Tenure Rank
Nov 07, 2013
8.57
8.6%
Jeff is President and CEO of W.E. Donoghue & Co., LLC. He is a principal and corporate officer as well as a member of W.E. Donoghue & Co., LLC's Investment Policy Committee. As part of Jeff's responsibilities on the investment committee he leads in the design and maintenance of the technical asset allocation models applied to the high yield asset class and equity rotation strategies. In addition, he has been instrumental in collaborating with Standard and Poor’s and S-Network in the design of the custom indices being offered by WEDCO for which the SMA investment portfolios are predicated upon. He is also a co-portfolio manager to the Power Funds suite of 40 Act mutual funds, of which W. E. Donoghue & Co. LLC is the Advisor. Jeff had worked as an Account Executive for national and super regional firms Lehman Brothers, Gruntal & Co., and Cowen & Co. from 1992-1996. There he worked with individual investors, as well as institutional investors, recommending and trading individual securities. Further, BTS Asset Management employed Jeff from 1996-1998 as a Regional Vice President providing investment advisory services to institutional clients.
Richard Molari
Start Date
Tenure
Tenure Rank
Oct 28, 2016
5.59
5.6%
Rick is the Chief Operating Officer of W.E. Donoghue & Co. LLC. He is a principal, corporate officer as well as a member of W.E. Donoghue & Co., LLC's Investment Policy Committee. As part of Rick's responsibilities on the investment committee he is involved in the design and maintenance of the technical asset allocation models applied to the high yield asset class and equity rotation strategies. He is also a co-portfolio manager to the Power Funds suite of 40 Act mutual funds, of which W. E. Donoghue & Co. LLC is the Advisor. Rick is an accomplished investment management operations and global trading specialist with over fifteen years of industry experience. He has extensive knowledge of international equity, fixed income and currency markets as well as back and middle office operations, portfolio accounting and compliance regulations. Rick joined W.E. Donoghue & Co., LLC in 2014 to manage the trading and operations team. Prior to his current role, Rick spent nine years at a multi-billion dollar Boston based global hedge fund, trading international equities and managing trade operations. He started his professional career in fund accounting and back office administration with State Street Global Advisors and later BISYS Hedge Fund Services Inc. Rick holds a dual Bachelor's of Science degree from Northeastern University in Finance and Entrepreneurship. He is currently an active member of the CFA Institute, the Boston Security Analysts Society and the Boston Securities Traders Association.
John Forlines
Start Date
Tenure
Tenure Rank
Oct 30, 2018
3.59
3.6%
John A. Forlines III is Chief Investment Officer at W.E. Donoghue and a member of the Investment Committee. In addition to his leadership as a portfolio manager, Mr. Forlines is an Executive in Residence in the Department of Economics at Duke where he teaches classes in behavioral finance and decision making. Mr. Forlines enjoyed a long career with J.P. Morgan from 1985-2000, serving various roles within the firm, including Vice President of Structured Products, Co-Head of the U.S. Private Equity Group, Managing Director in the Securities Business Development Group and Managing Director and Co-Head of U.S. Tech, Media & Telecom Investment Banking. Mr. Forlines is admitted to the practice of law in the State of New York; before his career at JP Morgan his legal work specialized in structured debt and equity products. Graduating from Duke University with Honors in English and Economics, Mr. Forlines has also earned his J.D from the Duke University School of Law.
Nicholas Lobley
Start Date
Tenure
Tenure Rank
Dec 09, 2019
2.48
2.5%
Mr. Lobley was promoted to Portfolio Manager of W.E. Donoghue & Co., LLC in 2019. Mr. Lobley was previously promoted to Senior Research Analyst in 2018 after joining the firm as Analyst in 2018. Prior to joining W.E. Donoghue & Co., Mr. Lobley was an Analyst with JAForlines Global, an independent investment adviser, since 2017. From 2016 to 2017, Mr. Lobley was an Associate with Paley Advisors, LLC. Mr. Lobley holds a Bachelor of Arts in Economics from Oberlin College.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 33.83 | 6.67 | 13.0 |