Fund
SNGVX
Price as of:
$10.22
- $0.01
- 0.10%
Primary Theme
fund company
Name
As of 11/20/2024Price
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
Vitals
YTD Return
2.6%
1 yr return
5.6%
3 Yr Avg Return
0.0%
5 Yr Avg Return
0.7%
Net Assets
$221 M
Holdings in Top 10
24.0%
52 WEEK LOW AND HIGH
$10.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.80%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 40.96%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
$5,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/20/2024Price
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
SNGVX - Profile
Distributions
- YTD Total Return 2.6%
- 3 Yr Annualized Total Return 0.0%
- 5 Yr Annualized Total Return 0.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.90%
- Dividend Yield 3.6%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameSIT U S GOVERNMENT SECURITIES FUND INC
-
Fund Family NameSit Mutual Funds
-
Inception DateJun 02, 1987
-
Shares OutstandingN/A
-
Share ClassS
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBryce Doty
Fund Description
The Fund seeks to achieve its objective by investing exclusively in U.S. government securities, which are securities issued, guaranteed or insured by the U.S. government, its agencies or instrumentalities.
The Fund invests a substantial portion of its assets in pass-through securities. Pass-through securities are formed when mortgages or other debt instruments are pooled together and undivided interests in the pool are sold to investors, such as the Fund. Pass-through securities in which the Fund invests include mortgage-backed securities such as those issued by Government National Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) and Federal Home Loan Mortgage Corporation (FHLMC). GNMA is an agency of the U.S. government and its securities are backed by the full faith and credit of the U.S. government. FNMA and FHLMC are U.S. government sponsored enterprises and their securities are backed by their credit. Other types of U.S. government securities in which the Fund may invest include U.S. Treasury securities, U.S. government agency collateralized mortgage obligations and other U.S. government agency securities.
In selecting securities for the Fund, Sit Investment Associates, Inc. (the “Adviser”) seeks securities providing high current income relative to yields currently available in the market. In making purchase and sales decisions for the Fund, the Adviser considers its economic outlook and interest rate forecast, as well as its evaluation of a security’s prepayment risk, yield, maturity, and liquidity.
The Adviser attempts to maintain an average effective duration for the portfolio of approximately 0 to 5 years. Duration is a measure of total price sensitivity relative to changes in interest rates. For example, if interest rates rise by 1%, the market value of a security with an effective duration of 3 years would decrease by 3%, with all other factors being constant. Portfolios with longer durations are typically more sensitive to changes in interest rates. The Adviser may hedge the Fund’s duration by investing in interest rate futures and options, but not in excess of 5% of the Fund’s net assets.
The Fund’s dollar-weighted average maturity will, under normal market conditions, range between 15 and 25 years. However, since the Fund’s securities are subject to various types of call provisions which make their expected average lives shorter than their stated maturity dates, the Adviser believes that the Fund’s average effective duration is a more accurate measure of the Fund’s price sensitivity to changes in interest rates than the Fund’s dollar-weighted average maturity.
SNGVX - Performance
Return Ranking - Trailing
| Period | SNGVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.6% | 0.1% | 6.8% | 78.48% |
| 1 Yr | 5.6% | 3.5% | 8.7% | 21.52% |
| 3 Yr | 0.0%* | -2.1% | 2.9% | 67.95% |
| 5 Yr | 0.7%* | -0.9% | 2.0% | 59.46% |
| 10 Yr | 1.2%* | -0.2% | 2.6% | 24.62% |
* Annualized
Return Ranking - Calendar
| Period | SNGVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -0.1% | -1.6% | 4.4% | 73.42% |
| 2022 | -6.4% | -10.4% | -1.0% | 42.31% |
| 2021 | -1.9% | -6.4% | -0.2% | 34.62% |
| 2020 | 2.1% | -1.8% | 4.9% | 54.05% |
| 2019 | 1.1% | -1.4% | 3.3% | 55.56% |
Total Return Ranking - Trailing
| Period | SNGVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.6% | 0.1% | 6.8% | 78.48% |
| 1 Yr | 5.6% | 3.5% | 8.7% | 21.52% |
| 3 Yr | 0.0%* | -2.1% | 2.9% | 67.95% |
| 5 Yr | 0.7%* | -0.9% | 2.0% | 59.46% |
| 10 Yr | 1.2%* | -0.2% | 2.6% | 24.62% |
* Annualized
Total Return Ranking - Calendar
| Period | SNGVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.5% | 2.4% | 6.2% | 89.87% |
| 2022 | -4.4% | -9.3% | 0.2% | 32.05% |
| 2021 | -0.9% | -3.1% | 0.1% | 28.21% |
| 2020 | 3.8% | 0.4% | 6.0% | 36.49% |
| 2019 | 3.4% | 1.1% | 5.5% | 55.56% |
NAV & Total Return History
SNGVX - Holdings
Concentration Analysis
| SNGVX | Category Low | Category High | SNGVX % Rank | |
|---|---|---|---|---|
| Net Assets | 221 M | 11.1 M | 24.8 B | 55.70% |
| Number of Holdings | 192 | 7 | 1024 | 36.71% |
| Net Assets in Top 10 | 55.4 M | 1.76 M | 6.85 B | 63.29% |
| Weighting of Top 10 | 23.97% | 15.6% | 100.0% | 91.14% |
Top 10 Holdings
- Ginnie Mae II Pool 3.21%
- Government National Mortgage Association 3.13%
- Government National Mortgage Association 2.83%
- Government National Mortgage Association 2.80%
- Freddie Mac REMICS 2.13%
- Freddie Mac Pool 2.11%
- Freddie Mac REMICS 1.97%
- Fannie Mae Pool 1.95%
- Fannie Mae Pool 1.92%
- Government National Mortgage Association 1.91%
Asset Allocation
| Weighting | Return Low | Return High | SNGVX % Rank | |
|---|---|---|---|---|
| Bonds | 98.45% | 70.16% | 127.20% | 44.30% |
| Cash | 1.41% | 0.00% | 23.11% | 36.71% |
| Other | 0.14% | -25.01% | 30.75% | 44.30% |
| Stocks | 0.00% | 0.00% | 1.65% | 50.63% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 45.57% |
| Convertible Bonds | 0.00% | 0.00% | 0.00% | 44.87% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | SNGVX % Rank | |
|---|---|---|---|---|
| Securitized | 85.35% | 0.00% | 100.00% | 10.26% |
| Government | 6.41% | 0.00% | 99.96% | 88.46% |
| Cash & Equivalents | 1.37% | 0.00% | 23.11% | 36.71% |
| Derivative | 0.14% | -0.95% | 11.49% | 15.19% |
| Corporate | 0.00% | 0.00% | 34.19% | 53.85% |
| Municipal | 0.00% | 0.00% | 6.22% | 55.13% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | SNGVX % Rank | |
|---|---|---|---|---|
| US | 98.45% | 70.16% | 127.20% | 44.30% |
| Non US | 0.00% | 0.00% | 0.00% | 45.57% |
SNGVX - Expenses
Operational Fees
| SNGVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.80% | 0.03% | 2.91% | 46.84% |
| Management Fee | 0.80% | 0.03% | 0.80% | 100.00% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.10% | 0.45% | N/A |
Sales Fees
| SNGVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.50% | 4.75% | N/A |
| Deferred Load | N/A | 0.50% | 1.00% | N/A |
Trading Fees
| SNGVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.00% | 0.25% | 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.
| SNGVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 40.96% | 0.00% | 466.00% | 14.75% |
SNGVX - Distributions
Dividend Yield Analysis
| SNGVX | Category Low | Category High | SNGVX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.58% | 0.00% | 5.67% | 53.16% |
Dividend Distribution Analysis
| SNGVX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| SNGVX | Category Low | Category High | SNGVX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.90% | -0.78% | 3.29% | 15.79% |
Capital Gain Distribution Analysis
| SNGVX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Oct 31, 2024 | $0.030 | OrdinaryDividend |
| Sep 30, 2024 | $0.033 | OrdinaryDividend |
| Aug 30, 2024 | $0.031 | OrdinaryDividend |
| Jul 31, 2024 | $0.034 | OrdinaryDividend |
| Apr 30, 2024 | $0.033 | OrdinaryDividend |
| Mar 28, 2024 | $0.031 | OrdinaryDividend |
| Feb 29, 2024 | $0.032 | OrdinaryDividend |
| Jan 31, 2024 | $0.033 | OrdinaryDividend |
| Dec 29, 2023 | $0.030 | OrdinaryDividend |
| Nov 30, 2023 | $0.031 | OrdinaryDividend |
| Oct 31, 2023 | $0.030 | OrdinaryDividend |
| Sep 29, 2023 | $0.025 | OrdinaryDividend |
| Aug 31, 2023 | $0.027 | OrdinaryDividend |
| Jul 31, 2023 | $0.026 | OrdinaryDividend |
| Jun 30, 2023 | $0.026 | OrdinaryDividend |
| May 31, 2023 | $0.029 | OrdinaryDividend |
| Apr 28, 2023 | $0.025 | OrdinaryDividend |
| Mar 31, 2023 | $0.028 | OrdinaryDividend |
| Feb 28, 2023 | $0.028 | OrdinaryDividend |
| Jan 31, 2023 | $0.028 | OrdinaryDividend |
| Dec 30, 2022 | $0.028 | OrdinaryDividend |
| Nov 30, 2022 | $0.025 | OrdinaryDividend |
| Oct 31, 2022 | $0.023 | OrdinaryDividend |
| Sep 30, 2022 | $0.020 | OrdinaryDividend |
| Aug 31, 2022 | $0.023 | OrdinaryDividend |
| Jul 29, 2022 | $0.019 | OrdinaryDividend |
| Jun 30, 2022 | $0.016 | OrdinaryDividend |
| May 31, 2022 | $0.021 | OrdinaryDividend |
| Apr 29, 2022 | $0.012 | OrdinaryDividend |
| Mar 31, 2022 | $0.011 | OrdinaryDividend |
| Feb 28, 2022 | $0.005 | OrdinaryDividend |
| Jan 31, 2022 | $0.007 | OrdinaryDividend |
| Dec 31, 2021 | $0.011 | OrdinaryDividend |
| Nov 30, 2021 | $0.004 | OrdinaryDividend |
| Oct 29, 2021 | $0.002 | OrdinaryDividend |
| Sep 30, 2021 | $0.007 | OrdinaryDividend |
| Aug 31, 2021 | $0.016 | OrdinaryDividend |
| Jul 30, 2021 | $0.009 | OrdinaryDividend |
| Jun 30, 2021 | $0.013 | OrdinaryDividend |
| May 28, 2021 | $0.007 | OrdinaryDividend |
| Apr 30, 2021 | $0.008 | OrdinaryDividend |
| Mar 31, 2021 | $0.011 | OrdinaryDividend |
| Feb 26, 2021 | $0.011 | OrdinaryDividend |
| Jan 29, 2021 | $0.004 | OrdinaryDividend |
| Dec 31, 2020 | $0.010 | OrdinaryDividend |
| Nov 30, 2020 | $0.010 | OrdinaryDividend |
| Oct 30, 2020 | $0.009 | OrdinaryDividend |
| Sep 30, 2020 | $0.013 | OrdinaryDividend |
| Aug 31, 2020 | $0.012 | OrdinaryDividend |
| Jul 31, 2020 | $0.010 | OrdinaryDividend |
| Jun 30, 2020 | $0.017 | OrdinaryDividend |
| May 29, 2020 | $0.013 | OrdinaryDividend |
| Apr 30, 2020 | $0.018 | OrdinaryDividend |
| Mar 31, 2020 | $0.019 | OrdinaryDividend |
| Feb 28, 2020 | $0.016 | OrdinaryDividend |
| Jan 31, 2020 | $0.019 | OrdinaryDividend |
| Dec 31, 2019 | $0.020 | OrdinaryDividend |
| Nov 29, 2019 | $0.012 | OrdinaryDividend |
| Oct 31, 2019 | $0.019 | OrdinaryDividend |
| Sep 30, 2019 | $0.018 | OrdinaryDividend |
| Aug 30, 2019 | $0.019 | OrdinaryDividend |
| Jul 31, 2019 | $0.024 | OrdinaryDividend |
| Dec 17, 2010 | $0.001 | CapitalGainShortTerm |
| Dec 17, 2010 | $0.003 | CapitalGainLongTerm |
| Dec 08, 1998 | $0.036 | CapitalGainShortTerm |
| Dec 08, 1998 | $0.072 | CapitalGainLongTerm |
| Dec 31, 1992 | $0.020 | OrdinaryDividend |
SNGVX - Fund Manager Analysis
Managers
Bryce Doty
Start Date
Tenure
Tenure Rank
Dec 31, 1995
26.43
26.4%
Bryce A. Doty, Vice President – Investments, served as Senior Vice President and Senior Portfolio Manager of Sit Investment Fixed Income Advisors, Inc. Prior to joining Sit Investment Associates in 1995, Bryce gained extensive experience during his seven years with Minnesota Mutual in management consulting. Bryce earned his M.B.A. degree, with a concentration in finance, from the Carlson School of Management at the University of Minnesota in 1992. He earned a B.A. degree in business management, with minors in physics and psychology, from Hamline University in 1988. Bryce is a CFA charter holder.
Mark Book
Start Date
Tenure
Tenure Rank
Oct 23, 2002
19.62
19.6%
Mark joined Sit Investment Associates in August 2000 as a Portfolio Manager and Fixed Income Analyst. He is responsible for taxable bond portfolio management and credit research. Prior to joining SIA, Mark spent three years with U.S. Bancorp Piper Jaffray where he was Vice President and Senior Corporate Bond Strategist. Prior to U.S. Bancorp Piper Jaffray, he worked as a fixed income portfolio manager at Norwest Investment Management for one year and Insight Investment Management for six years. He also traded fixed income securities at Reliastar Financial Corporation (now ING) for five years. Mark received a B.A. in Accounting from the University of Minnesota in 1986. In 1992 he completed his M.B.A. with a concentration in finance at the University of Minnesota Carlson School of Management.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.49 | 32.44 | 10.48 | 7.33 |