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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

$8.52

$611 M

8.04%

$0.68

1.47%

Vitals

YTD Return

-2.7%

1 yr return

-1.1%

3 Yr Avg Return

-4.9%

5 Yr Avg Return

0.8%

Net Assets

$611 M

Holdings in Top 10

65.4%

52 WEEK LOW AND HIGH

$8.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.47%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 165.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


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

$8.52

$611 M

8.04%

$0.68

1.47%

TNURX - Profile

Distributions

  • YTD Total Return -2.7%
  • 3 Yr Annualized Total Return -4.9%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.24%
DIVIDENDS
  • Dividend Yield 8.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    1290 Diversified Bond Fund
  • Fund Family Name
    EQFunds
  • Inception Date
    Jul 06, 2015
  • Shares Outstanding
    N/A
  • Share Class
    R
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Kenneth Kozlowski

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in a diversified portfolio of U.S. and foreign bonds or other debt securities of varying maturities and other instruments that provide investment exposure to such debt securities, including forwards or derivatives such as options, futures contracts or swap agreements.Under normal circumstances, the Fund invests primarily in a diversified mix of U.S. dollar-denominated investment grade fixed income securities, particularly U.S. government, corporate and mortgage-backed securities. The Fund may invest in securities of any maturity. Under normal circumstances, it is expected that the average portfolio duration of the Fund will be within 5 years of the duration of the benchmark. As of December 31, 2023, the average duration of the benchmark, the Bloomberg U.S. Aggregate Bond Index, was 6.15 years. Duration is a measure used to determine the sensitivity of a security’s price to changes in interest rates. The longer a security’s duration, the more sensitive it will be to changes in interest rates, which may increase the volatility of the security’s value and may lead to losses. As a separate measure, there is no limit on the weighted average maturity of the Fund’s fixed income portfolio.Brandywine Global Investment Management, LLC (“Brandywine Global” or the “Sub-Adviser”) employs a value approach toward fixed income investing and evaluates the relative attractiveness among corporate, mortgage and U.S. government securities, and also may invest in non-dollar-denominated issues. The Sub-Adviser relies upon value measures to guide its decisions regarding sector, security and country selection, such as the relative attractiveness of the extra yield offered by securities other than those issued by the U.S. Treasury. The Sub-Adviser also measures various types of risk by monitoring interest rates, inflation, the shape of the yield curve, credit risk, prepayment risk, risks relating to conditions in different countries, and currency valuations.The Fund may invest in securities denominated in foreign currencies and in U.S. dollar-denominated securities of foreign issuers, including securities and instruments that are economically tied to emerging market countries. The Fund will normally limit its foreign currency exposure (from non-U.S. dollar-denominated securities or currencies) to 40% of its total assets (this limitation does not apply to investment grade sovereign debt denominated in the local currency with less than 1 year remaining to maturity).The portfolio managers intend to maintain an average weighted portfolio quality of BBB- or better, whether composed of rated securities or unrated securities deemed by the portfolio managers to be of comparable quality. The Fund may invest in both investment grade securities and high yield securities (“junk bonds”) subject to a maximum of 40% of its total assets in securities rated below investment grade by Standard & Poor’s Global Ratings (“S&P”), Fitch, Inc. (“Fitch”), or Moody’s Investors Service, Inc. (”Moody’s”) or, if unrated, determined by the Fund’s investment adviser, Equitable Investment Management, LLC (the “Adviser”), or the Sub-Adviser to be of comparable quality. The below investment grade securities in which the Fund invests are generally rated at least CC by S&P or Fitch or at least Ca by Moody’s or, if unrated, determined by the Adviser or the Sub-Adviser to be of comparable quality. The Fund may continue to hold securities that are downgraded below these ratings subsequent to purchase. The Fund does not normally invest in securities that are in default or have defaulted with respect to the payment of interest or repayment of principal, but may do so depending on market or other conditions. The Fund may have exposure to securities rated below CC or Ca, or to securities that are in default or have defaulted, through its investments in certain derivatives described below.The Fund may invest, without limitation, in forwards and derivative instruments such as options, futures contracts, structured securities or swap agreements (including total return swaps, credit default swaps and interest rate swaps), and in mortgage- and asset-backed securities, subject to applicable law and any other restrictions described in the Fund’s prospectus or Statement of Additional Information. Derivatives may be used for various investment purposes, including to hedge portfolio risk, to gain exposure or to short individual securities, to earn income and enhance return, and to manage duration. The Fund’s investments in derivatives may involve the use of leverage because the Fund is not required to invest the full market value of the contract upon entering into the contract but participates in gains and losses on the full contract price. The use of derivatives also may involve the use of leverage because the heightened price sensitivity of some derivatives to market changes may magnify the Fund’s gain or loss.The Fund may enter into foreign currency exchange transactions to hedge against currency exposure in its portfolio. The Fund may enter into forward currency exchange contracts and other currency derivatives, such as swaps, options and futures, to shift its investment exposure from one currency into another. This may include shifting exposure from U.S. dollars to a foreign currency, or from one foreign currency to another foreign currency. This type of strategy, sometimes known as a “crosshedge,” will tend to reduce or eliminate exposure to the currency that is sold, and increase exposure to the currency that is purchased, much as if the Fund had sold a security denominated in one currency and purchased an equivalent security denominated in another. Cross-hedges are intended to protect against losses resulting from a decline in the value of the hedged currency, but will cause the Fund to assume the risk of fluctuations in the value of the currency it purchases, and may also limit any potential gain that might result should the value of such hedged currency increase.The Fund may purchase or sell securities on a when-issued, delayed delivery, or forward commitment basis. The Fund may seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts (such as contracts for derivative instruments) or by using other investment techniques (such as buy backs or dollar rolls). The Fund may invest in privately placed and restricted securities, collateralized loan obligations, inflation-indexed bonds, bank loans, and loan participations and assignments. The Fund may also invest in zero coupon and pay-in-kind securities. The Fund may engage in active and frequent trading to achieve its investment objective.
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TNURX - Performance

Return Ranking - Trailing

Period TNURX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.7% -6.0% 3.9% 99.51%
1 Yr -1.1% -10.3% 16.1% 97.12%
3 Yr -4.9%* -10.4% 26.2% 97.80%
5 Yr 0.8%* -6.6% 191.4% 37.26%
10 Yr N/A* -2.4% 73.7% N/A

* Annualized

Return Ranking - Calendar

Period TNURX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.8% -16.2% 8.1% 95.94%
2022 -15.6% -34.7% 131.9% 39.98%
2021 -6.7% -11.6% 4.4% 97.57%
2020 13.6% -10.1% 946.1% 4.04%
2019 1.8% -1.7% 156.4% 97.49%

Total Return Ranking - Trailing

Period TNURX Return Category Return Low Category Return High Rank in Category (%)
YTD -2.7% -6.0% 3.9% 99.51%
1 Yr -1.1% -10.3% 16.1% 97.12%
3 Yr -4.9%* -10.4% 26.2% 97.80%
5 Yr 0.8%* -6.6% 191.4% 37.26%
10 Yr N/A* -2.4% 73.7% N/A

* Annualized

Total Return Ranking - Calendar

Period TNURX Return Category Return Low Category Return High Rank in Category (%)
2023 2.7% -11.3% 11.0% 97.62%
2022 -13.0% -32.2% 131.9% 30.57%
2021 -2.9% -9.4% 9.2% 96.62%
2020 16.6% -1.9% 1009.0% 5.02%
2019 8.0% 1.1% 21668.0% 73.80%

NAV & Total Return History


TNURX - Holdings

Concentration Analysis

TNURX Category Low Category High TNURX % Rank
Net Assets 611 M 2.73 M 292 B 61.23%
Number of Holdings 75 1 17889 96.18%
Net Assets in Top 10 415 M -106 M 36.5 B 45.40%
Weighting of Top 10 65.42% 4.4% 134.1% 5.51%

Top 10 Holdings

  1. U.S. Treasury Notes 18.71%
  2. U.S. Treasury Bonds 12.09%
  3. Republic of South Africa 5.73%
  4. UMBS 4.72%
  5. UMBS 4.69%
  6. UMBS 4.44%
  7. GNMA 4.28%
  8. Titulos de Tesoreria, Series B 4.22%
  9. GNMA 3.56%
  10. Notas do Tesouro Nacional 2.98%

Asset Allocation

Weighting Return Low Return High TNURX % Rank
Bonds
95.31% 0.00% 215.98% 47.85%
Cash
3.84% -54.51% 88.26% 40.22%
Convertible Bonds
1.94% 0.00% 7.93% 31.92%
Other
0.85% -13.23% 58.65% 67.71%
Stocks
0.00% 0.00% 99.93% 46.00%
Preferred Stocks
0.00% 0.00% 74.68% 42.07%

Bond Sector Breakdown

Weighting Return Low Return High TNURX % Rank
Government
80.38% 0.00% 86.23% 0.39%
Corporate
11.95% 0.00% 100.00% 91.92%
Securitized
2.77% 0.00% 98.40% 96.45%
Cash & Equivalents
1.72% 0.00% 88.06% 60.76%
Derivative
0.85% -5.38% 58.65% 11.25%
Municipal
0.00% 0.00% 100.00% 78.62%

Bond Geographic Breakdown

Weighting Return Low Return High TNURX % Rank
US
80.40% 0.00% 215.98% 88.16%
Non US
14.90% 0.00% 39.04% 1.27%

TNURX - Expenses

Operational Fees

TNURX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.47% 0.01% 39.10% 12.13%
Management Fee 0.60% 0.00% 1.76% 95.85%
12b-1 Fee 0.50% 0.00% 1.00% 67.68%
Administrative Fee 0.15% 0.01% 0.50% 73.40%

Sales Fees

TNURX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

TNURX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

TNURX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 165.00% 2.00% 493.39% 59.68%

TNURX - Distributions

Dividend Yield Analysis

TNURX Category Low Category High TNURX % Rank
Dividend Yield 8.04% 0.00% 9.75% 79.10%

Dividend Distribution Analysis

TNURX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

TNURX Category Low Category High TNURX % Rank
Net Income Ratio 2.24% -1.28% 4.79% 18.52%

Capital Gain Distribution Analysis

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

Distributions History

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TNURX - Fund Manager Analysis

Managers

Kenneth Kozlowski


Start Date

Tenure

Tenure Rank

Jul 06, 2015

6.91

6.9%

Kenneth T. Kozlowski, CFP, CLU, ChFC, is the lead portfolio manager and Chief Investment Officer for EIMG LLC. Mr. Kozlowski is a Managing Director of Equitable Life Insurance Company (“Equitable”) and has served as Executive Vice President and Chief Investment Officer of EIMG LLC since June 2012. He has had primary responsibility for the asset allocation, fund selection and rebalancing of Equitable’s funds-of-funds since 2003.

Alwi Chan


Start Date

Tenure

Tenure Rank

Jul 06, 2015

6.91

6.9%

Alwi Chan, CFA is a Vice President of the Trusts and member of each Trust’s Valuation Committee. He has served as a Lead Director of AXA Equitable and Senior Vice President and Deputy Chief Investment Officer of FMG LLC since June 2012. Mr. Chan assists in portfolio analysis, rebalancing and fund selection. Mr. Chan earned a Bachelor’s degree in Economics from Trisakti University (Indonesia) and an MBA from Tulane University. Mr. Chan holds the Chartered Financial Analyst (CFA) designation.

Tracy Chen


Start Date

Tenure

Tenure Rank

Jun 15, 2018

3.96

4.0%

Tracy Chen, CFA®, CAIA is a portfolio manager and head of Structured Credit for Brandywine Global. She joined the firm in August 2008. Prior to joining Brandywine Global, she was with UBS Investment Bank as director of the fixed income valuation group (2006-2008), GMAC Mortgage Group as a mortgage pricing analyst (2003-2006), Deloitte Consulting as a senior corporate strategy consultant (2001-2003), and J&A Securities Ltd. in Shenzhen, China, as an international corporate finance associate (1995-1999).

Anujeet Sareen


Start Date

Tenure

Tenure Rank

Jun 15, 2018

3.96

4.0%

Anujeet Sareen is a portfolio manager for the Firm’s Global Fixed Income and related strategies. Prior to joining the Firm in 2016, Anujeet was a managing director of global fixed income and a global macro strategist, as well as chair of the Currency Strategy Group at Wellington Management in Boston. Over his 22-year career at Wellington (1994-2016), he held a variety of roles while cultivating extensive fixed income and currency management experience. Anujeet is a CFA® charterholder and earned a B.A. in Computer Science from Brown University.

Brian Kloss


Start Date

Tenure

Tenure Rank

Mar 31, 2020

2.17

2.2%

Brian L. Kloss, JD, CPA, is a portfolio manager and head of high yield for Brandywine Global. Brian joined Brandywine Global in December 2009。Previously, Brian was co-portfolio manager at Dreman Value Management, LLC (2007-2009); high yield analyst/trader at Gartmore Global Investments (2002-2007); high yield and equity portfolio manager and general analyst at Penn Capital Management, Ltd. (2000-2002); an analyst with The Concord Advisory Group, Ltd. (1998-2000); and an international tax consultant with Deloitte & Touche LLP (1995-1998).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.43 6.82 1.16