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Trending ETFs

Name

As of 03/26/2024

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

$10.14

$650 M

4.52%

$0.46

0.84%

Vitals

YTD Return

0.8%

1 yr return

4.7%

3 Yr Avg Return

0.8%

5 Yr Avg Return

2.2%

Net Assets

$650 M

Holdings in Top 10

22.6%

52 WEEK LOW AND HIGH

$10.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.84%

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

$500


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

$10.14

$650 M

4.52%

$0.46

0.84%

SMRSX - Profile

Distributions

  • YTD Total Return 0.8%
  • 3 Yr Annualized Total Return 0.8%
  • 5 Yr Annualized Total Return 2.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.51%
DIVIDENDS
  • Dividend Yield 4.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    ALPS/Smith Short Duration Bond Fund
  • Fund Family Name
    ALPS Advised Funds
  • Inception Date
    Jun 29, 2018
  • Shares Outstanding
    412495
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Gibson Smith

Fund Description

The Fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in short- and intermediate-term fixed-income securities including government securities, corporate bonds or notes and agency securities.

The Fund may also invest in asset-backed securities, money market instruments, commercial loans, and foreign debt securities (including investments in emerging markets). Investments in high yield/high risk bonds (also known as “junk” bonds) are expected to represent, under normal market conditions, less than 20% of the Fund’s net assets. The Fund has the flexibility to invest up to 35% of its net assets in such instruments to allow the Fund to take advantage of opportunities in the market that meet the overall investment criteria, but that may temporarily increase the proportion of high yield investments in the Fund. Under normal market conditions, investments in non-agency mortgage-backed securities are expected to comprise not more than 20% of the Fund’s net assets and investments in non-agency commercial mortgage-backed securities are expected to be less than 5% of the Fund’s net assets. The Fund’s investments in agency mortgage-backed securities are generally not subject to limitation, except to the extent such investments would be inconsistent with another stated investment strategy or policy.

The Fund expects that its portfolio will target a weighted average effective duration of +/- 30% of the current effective duration of the Bloomberg Barclays 1-3 year U.S. Government Bond Index. In selecting securities, Smith Capital Investors considers many factors, including yield, credit ratings, liquidity, call risk, duration, structure, and capital appreciation potential. Due to the nature of the process and the securities in which the Fund invests, it may have relatively high portfolio turnover compared to other funds.

Duration refers to the average life of a debt instrument and serves as a measure of that instrument’s interest rate risk.

Though the Fund does not typically expect to use derivatives, for purposes of meeting its policy to invest at least 80% of net assets in bonds, the Fund may include derivatives that have characteristics similar to the securities in which the Fund may directly invest. In addition to considering economic factors such as the effect of interest rates on the Fund’s investments, the portfolio manager typically applies a “bottom up” approach in choosing investments. This means that the portfolio manager looks at income producing securities one at a time to determine if a security is an attractive investment opportunity and if it is consistent with the Fund’s investment policies. The portfolio manager additionally considers the expected risk-adjusted return on a particular investment and the Fund’s overall risk allocations and volatility.

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SMRSX - Performance

Return Ranking - Trailing

Period SMRSX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% -1.8% 9.2% 45.03%
1 Yr 4.7% -0.2% 24.4% 46.74%
3 Yr 0.8%* -5.9% 4.1% 26.02%
5 Yr 2.2%* -3.8% 4.4% 11.31%
10 Yr N/A* -19.2% 169.7% N/A

* Annualized

Return Ranking - Calendar

Period SMRSX Return Category Return Low Category Return High Rank in Category (%)
2023 1.1% -5.4% 7.6% 76.23%
2022 -4.3% -17.7% -2.6% 1.29%
2021 -0.9% -4.0% 4.4% 14.69%
2020 4.2% -8.3% 7.6% 1.56%
2019 1.6% -2.3% 9.3% 72.18%

Total Return Ranking - Trailing

Period SMRSX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% -1.8% 9.2% 45.03%
1 Yr 4.7% -0.2% 24.4% 46.74%
3 Yr 0.8%* -5.9% 4.1% 26.02%
5 Yr 2.2%* -3.8% 4.4% 11.31%
10 Yr N/A* -19.2% 169.7% N/A

* Annualized

Total Return Ranking - Calendar

Period SMRSX Return Category Return Low Category Return High Rank in Category (%)
2023 4.7% -1.1% 15.2% 79.85%
2022 -2.9% -17.3% -1.3% 5.18%
2021 -0.3% -2.7% 7.7% 58.59%
2020 6.3% -4.4% 14.5% 9.77%
2019 4.4% 0.6% 12.6% 60.48%

NAV & Total Return History


SMRSX - Holdings

Concentration Analysis

SMRSX Category Low Category High SMRSX % Rank
Net Assets 650 M 14.1 K 58.8 B 59.96%
Number of Holdings 228 2 9721 72.71%
Net Assets in Top 10 138 M 1.16 M 6.6 B 63.55%
Weighting of Top 10 22.55% 1.8% 108.7% 56.55%

Top 10 Holdings

  1. U.S. Treasury Note 4.23%
  2. U.S. Treasury Note 3.08%
  3. U.S. Treasury Note 2.92%
  4. U.S. Treasury Note 2.76%
  5. U.S. Treasury Note 2.34%
  6. VICI Properties LP 1.67%
  7. Midwest Connector Capital Co. LLC 1.58%
  8. U.S. Treasury Note 1.58%
  9. Vistra Operations Co. LLC 1.26%
  10. General Motors Financial Co., Inc. 1.14%

Asset Allocation

Weighting Return Low Return High SMRSX % Rank
Bonds
98.25% 0.00% 130.68% 16.16%
Convertible Bonds
2.94% 0.00% 27.71% 44.24%
Cash
1.75% -20.59% 62.18% 57.45%
Stocks
0.00% 0.00% 103.64% 80.97%
Preferred Stocks
0.00% 0.00% 21.82% 76.30%
Other
0.00% -0.97% 72.36% 91.02%

Bond Sector Breakdown

Weighting Return Low Return High SMRSX % Rank
Corporate
64.69% 0.00% 100.00% 12.41%
Government
28.64% 0.00% 73.63% 31.29%
Securitized
2.41% 0.00% 97.27% 89.57%
Cash & Equivalents
0.03% 0.00% 62.18% 83.84%
Derivative
0.00% -0.55% 24.84% 72.17%
Municipal
0.00% 0.00% 17.46% 88.31%

Bond Geographic Breakdown

Weighting Return Low Return High SMRSX % Rank
US
98.25% 0.00% 130.68% 14.18%
Non US
0.00% 0.00% 83.16% 78.64%

SMRSX - Expenses

Operational Fees

SMRSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.84% 0.01% 3.24% 35.51%
Management Fee 0.37% 0.00% 1.19% 66.79%
12b-1 Fee 0.25% 0.00% 1.00% 52.25%
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

SMRSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.50% 4.00% N/A

Trading Fees

SMRSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 55.56%

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.

SMRSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 2.00% 500.00% 98.18%

SMRSX - Distributions

Dividend Yield Analysis

SMRSX Category Low Category High SMRSX % Rank
Dividend Yield 4.52% 0.00% 10.34% 27.83%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

SMRSX Category Low Category High SMRSX % Rank
Net Income Ratio 0.51% -1.27% 4.98% 83.12%

Capital Gain Distribution Analysis

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

Distributions History

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SMRSX - Fund Manager Analysis

Managers

Gibson Smith


Start Date

Tenure

Tenure Rank

Jun 29, 2018

3.92

3.9%

Mr. Smith is the Chief Investment Officer of Smith Capital Investors, LLC. Prior to his association with Smith Capital Investors, Mr. Smith was with Janus Capital from 2001 until March 2016. He served as the Chief Investment Officer of Fixed Income for Janus Capital from 2006 to 2016. Mr. Smith holds a Bachelor’s degree in Economics from the University of Colorado.

Eric Bernum


Start Date

Tenure

Tenure Rank

Apr 10, 2019

3.14

3.1%

Mr. Bernum is an Investor with Smith Capital Investors, LLC, and has served as portfolio manager of the Funds since 2019. Prior to his association with Smith Capital Investors, Mr. Bernum was an Executive Director, Senior Portfolio Manager at J.P. Morgan Asset Management from 2017 to 2018. Before that, Mr. Bernum was at Janus Capital Group from 2004 to 2017 holding various positions including Assistant Portfolio Manager and the Co-Head of Global Fixed Income Trading. Mr. Bernum holds a Bachelor’s degree in Finance from Colorado State University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 28.77 6.13 2.41