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Mutual Funds Weekly Roundup: August 2
Brian Mathews
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The fund seeks to achieve its investment objective by primarily investing in agency and non-agency residential and commercial mortgage-backed securities, with a focus on non-agency residential mortgage-backed securities. It does not limit its investments to a particular credit quality and may invest without limitation in debt securities rated below investment grade (commonly referred to as "junk" bonds). The fund is non-diversified.
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| Period | RFXAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -2.0% | -55.0% | 9.4% | 64.80% |
| 1 Yr | -1.7% | -55.3% | 10.9% | 64.35% |
| 3 Yr | N/A* | -40.3% | 4.9% | N/A |
| 5 Yr | N/A* | -35.0% | 20.2% | N/A |
| 10 Yr | N/A* | -5.9% | 1.3% | N/A |
* Annualized
| Period | RFXAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2019 | N/A | -35.1% | 15.3% | N/A |
| 2018 | N/A | -48.0% | 0.8% | N/A |
| 2017 | N/A | -14.8% | 11.2% | N/A |
| 2016 | N/A | -11.2% | 19.1% | N/A |
| 2015 | N/A | -51.1% | 4.0% | N/A |
| Period | RFXAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -2.0% | -55.0% | 9.4% | 64.80% |
| 1 Yr | -1.7% | -55.3% | 7.8% | 64.35% |
| 3 Yr | N/A* | -40.3% | 3.9% | N/A |
| 5 Yr | N/A* | -35.0% | 20.2% | N/A |
| 10 Yr | N/A* | -5.9% | 5.1% | N/A |
* Annualized
| Period | RFXAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2019 | N/A | -35.1% | 15.3% | N/A |
| 2018 | N/A | -48.0% | 4.5% | N/A |
| 2017 | N/A | -14.8% | 14.0% | N/A |
| 2016 | N/A | -11.2% | 22.5% | N/A |
| 2015 | N/A | -51.1% | 4.0% | N/A |
| RFXAX | Category Low | Category High | RFXAX % Rank | |
|---|---|---|---|---|
| Net Assets | 328 M | 5 M | 126 B | 64.58% |
| Number of Holdings | 390 | 5 | 7722 | 59.30% |
| Net Assets in Top 10 | 95.3 M | -418 M | 29.7 B | 42.86% |
| Weighting of Top 10 | 33.14% | 4.8% | 214.0% | 33.24% |
| Weighting | Return Low | Return High | RFXAX % Rank | |
|---|---|---|---|---|
| Bonds | 88.92% | 14.17% | 236.60% | 57.75% |
| Cash | 11.08% | -142.79% | 75.97% | 14.56% |
| Stocks | 0.00% | -0.27% | 13.09% | 98.66% |
| Preferred Stocks | 0.00% | 0.00% | 39.23% | 98.11% |
| Other | 0.00% | -8.59% | 28.22% | 90.84% |
| Convertible Bonds | 0.00% | 0.00% | 25.59% | 99.73% |
| Weighting | Return Low | Return High | RFXAX % Rank | |
|---|---|---|---|---|
| Securitized | 88.50% | 0.00% | 99.22% | 4.04% |
| Cash & Equivalents | 11.49% | 0.02% | 84.27% | 19.41% |
| Corporate | 0.02% | 0.00% | 95.13% | 95.69% |
| Derivative | 0.00% | -0.44% | 47.67% | 96.50% |
| Municipal | 0.00% | 0.00% | 36.37% | 98.38% |
| Government | 0.00% | 0.00% | 99.16% | 100.00% |
| Weighting | Return Low | Return High | RFXAX % Rank | |
|---|---|---|---|---|
| US | 86.39% | 10.76% | 236.16% | 22.10% |
| Non US | 2.53% | -16.32% | 72.48% | 94.07% |
| RFXAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 2.21% | 0.06% | 24.26% | 15.89% |
| Management Fee | 1.50% | 0.00% | 2.25% | 96.88% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 53.17% |
| Administrative Fee | N/A | 0.01% | 0.70% | N/A |
| RFXAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 4.75% | 1.00% | 5.75% | 20.27% |
| Deferred Load | N/A | 1.00% | 5.50% | N/A |
| RFXAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
| RFXAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 14.00% | 0.00% | 421.00% | 4.21% |
| RFXAX | Category Low | Category High | RFXAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 5.76% | 96.11% |
| RFXAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Annually | Monthly | Monthly |
| RFXAX | Category Low | Category High | RFXAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.22% | 0.96% | 18.14% | 70.77% |
| RFXAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Start Date
Tenure
Tenure Rank
Jul 17, 2019
1.13
1.1%
Eric S. Meyer has been working in finance since 1995 and he founded ESM Management LLC in January 2009. From 1997 through 2008, Dr. Meyer worked at Susquehanna International Group. His primary responsibilities included building and managing the emerging markets bond trading group, building and managing a fixed income arbitrage group, creating and managing tax-advantaged trading strategies, and trading and investing in mortgage-backed securities. From 1995 through 1997, he was a quantitative researcher in the fixed income relative value arbitrage group at D. E. Shaw & Co., a hedge fund based in New York. Before entering the financial field, Dr. Meyer was a physicist at the National Institute of Standards and Technology in Gaithersburg, MD. He received both his A.B. degree and Ph.D. degree in Physics from Harvard University.
Start Date
Tenure
Tenure Rank
Jul 17, 2019
1.13
1.1%
William R. Van de Water has been working in finance since 2005. Mr. Van de Water joined ESM Management LLC as a residential mortgage-backed securities analyst and trader in June 2009 and became a managing director in December 2009. In 2014, Mr. Van de Water became a co-portfolio manager at ESM Management LLC. From 2005 through March 2009, Mr. Van de Water worked in the Boston office of Susquehanna International Group. His primary responsibility was to analyze and trade mortgage-backed securities. Mr. Van de Water earned joint B.S. degrees in Physics, Business, Economics, and Management from the California Institute of Technology in 2005.
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 29.32 | 5.81 | 5.67 |
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