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Name

As of 12/28/2022

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

Thomas White American Opportunities Fund

TWAOX | Fund

$9.03

$21.4 M

0.21%

$0.02

1.34%

Vitals

YTD Return

0.0%

1 yr return

-50.2%

3 Yr Avg Return

-20.9%

5 Yr Avg Return

-12.5%

Net Assets

$21.4 M

Holdings in Top 10

21.7%

52 WEEK LOW AND HIGH

$9.0
$9.03
$18.32

Expenses

OPERATING FEES

Expense Ratio 1.34%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 14.00%

Redemption Fee 2.00%

Min Investment

Standard (Taxable)

$2,500

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/28/2022

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

Thomas White American Opportunities Fund

TWAOX | Fund

$9.03

$21.4 M

0.21%

$0.02

1.34%

TWAOX - Profile

Distributions

  • YTD Total Return 0.0%
  • 3 Yr Annualized Total Return -20.9%
  • 5 Yr Annualized Total Return -12.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.16%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Thomas White American Opportunities Fund
  • Fund Family Name
    Thomas White Funds
  • Inception Date
    Mar 04, 1999
  • Shares Outstanding
    1298579
  • Share Class
    Inv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Douglas Jackman

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes, if any) in equity securities (consisting of common stocks, preferred stocks and convertible securities) of U.S. companies. In determining whether a company is located in or associated with the U.S., the Advisor will consider any one of the following four factors when making its determination: (i) whether the company is organized in the U.S.; (ii) whether the U.S. is the primary securities trading market; (iii) whether the location of assets is in the U.S.; or (iv) whether the company derives at least half of its revenue or profits from the U.S. The Fund’s investment policy with respect to 80% of its net assets may be changed by the Fund’s Board of Trustees without shareholder approval as long as shareholders are given at least 60 days’ advance written notice of the change.
The Advisor employs a valuation-oriented stock selection strategy and broad portfolio diversification. The Advisor will select most of the stocks held by the Fund from the approximately 800 companies in the Russell Midcap® Index. The Advisor currently researches over 4,000 issuers monthly and may purchase any of these securities for the Fund.
The Fund principally invests in mid‑ and small‑size U.S. companies. The Fund may also invest in equity securities of larger size U.S. companies. Equity securities of mid‑ and small‑size companies tend to have greater price fluctuations than larger, more established companies. The Advisor will attempt to manage this risk by normally owning securities issued by companies that represent a broad range of industries.
While the Advisor will primarily invest the assets of the Fund in U.S. companies, the Fund can invest up to 20% of its assets in non‑U.S. equity securities, including those from emerging market countries. 
The Advisor seeks to buy equity securities of companies at a value less than its research indicates to be their true worth. This is intended to produce a Fund portfolio with attractive relative valuation ratios, such as price‑to‑earnings and price‑to‑book. The Advisor may sell a security if it, among other reasons, no longer believes the security will contribute to meeting the investment objective of the Fund or other permissible investments are more attractive. 
Read More

TWAOX - Performance

Return Ranking - Trailing

Period TWAOX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -23.9% 18.2% 20.76%
1 Yr -50.2% -51.3% 52.2% 99.76%
3 Yr -20.9%* -25.5% 171.6% 99.74%
5 Yr -12.5%* -16.5% 83.7% 98.58%
10 Yr -4.3%* -9.2% 12.9% 94.47%

* Annualized

Return Ranking - Calendar

Period TWAOX Return Category Return Low Category Return High Rank in Category (%)
2023 -51.4% -69.6% 25.3% 99.50%
2022 11.0% -25.0% 82.1% 16.29%
2021 -6.3% -24.4% 196.6% 99.74%
2020 5.8% -21.9% 8.3% 37.53%
2019 -3.2% -62.4% 18.0% 42.17%

Total Return Ranking - Trailing

Period TWAOX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -23.9% 18.2% 20.71%
1 Yr -50.2% -51.3% 57.7% 99.76%
3 Yr -20.9%* -25.5% 171.6% 99.75%
5 Yr -12.5%* -16.2% 83.7% 99.44%
10 Yr -4.3%* -8.8% 12.9% 99.54%

* Annualized

Total Return Ranking - Calendar

Period TWAOX Return Category Return Low Category Return High Rank in Category (%)
2023 -51.4% -69.6% 25.3% 99.51%
2022 11.0% -25.0% 82.1% 16.50%
2021 -6.3% -24.4% 196.6% 99.74%
2020 5.8% -21.9% 8.3% 37.43%
2019 -3.2% -62.4% 19.0% 59.38%

NAV & Total Return History

TWAOX - Holdings

Concentration Analysis

TWAOX Category Low Category High TWAOX % Rank
Net Assets 21.4 M 481 K 145 B 87.67%
Number of Holdings 78 1 2445 54.02%
Net Assets in Top 10 4.71 M 3.49 K 10.8 B 87.13%
Weighting of Top 10 21.73% 2.8% 100.0% 47.70%

Top 10 Holdings

  1. Diamondback Energy Inc 2.82%
  2. AutoZone Inc 2.40%
  3. Synopsys Inc 2.34%
  4. Lam Research Corp 2.18%
  5. Regions Financial Corp 2.16%
  6. Duke Realty Corp 2.13%
  7. Centene Corp 2.11%
  8. Cadence Design Systems Inc 2.08%
  9. Agilent Technologies Inc 2.05%
  10. KLA Corp 2.04%

Asset Allocation

Weighting Return Low Return High TWAOX % Rank
Stocks 		98.41% 0.00% 100.57% 55.40%
Cash 		1.59% -2.51% 100.00% 43.45%
Preferred Stocks 		0.00% 0.00% 21.68% 11.26%
Other 		0.00% -1.04% 36.11% 12.18%
Convertible Bonds 		0.00% 0.00% 1.78% 9.89%
Bonds 		0.00% 0.00% 14.82% 11.72%

Stock Sector Breakdown

Weighting Return Low Return High TWAOX % Rank
Technology 		17.40% 0.00% 43.45% 32.95%
Industrials 		15.24% 0.00% 45.89% 60.37%
Financial Services 		14.05% 0.00% 46.10% 49.08%
Consumer Cyclical 		11.75% 2.49% 61.84% 63.36%
Healthcare 		11.27% 0.00% 47.15% 35.71%
Real Estate 		8.83% 0.00% 25.82% 38.71%
Basic Materials 		5.89% 0.00% 26.18% 46.08%
Utilities 		5.39% 0.00% 18.97% 28.34%
Energy 		4.71% 0.00% 58.13% 55.76%
Consumer Defense 		3.93% 0.00% 32.18% 55.07%
Communication Services 		1.54% 0.00% 30.98% 67.74%

Stock Geographic Breakdown

Weighting Return Low Return High TWAOX % Rank
US 		97.27% 0.00% 100.04% 40.23%
Non US 		1.14% 0.00% 27.19% 58.39%

TWAOX - Expenses

Operational Fees

TWAOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.34% 0.03% 8.45% 19.58%
Management Fee 0.85% 0.00% 1.67% 86.25%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.25% 0.01% 0.30% 86.07%

Sales Fees

TWAOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 4.50% N/A

Trading Fees

TWAOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 11.11%

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.

TWAOX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 14.00% 0.00% 321.00% 8.65%

TWAOX - Distributions

Dividend Yield Analysis

TWAOX Category Low Category High TWAOX % Rank
Dividend Yield 0.21% 0.00% 4.22% 41.28%

Dividend Distribution Analysis

TWAOX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

TWAOX Category Low Category High TWAOX % Rank
Net Income Ratio -0.16% -2.06% 3.38% 77.83%

Capital Gain Distribution Analysis

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

Distributions History

View More +

TWAOX - Fund Manager Analysis

Managers

Douglas Jackman

Start Date

Tenure

Tenure Rank

Feb 28, 2016

6.26

6.3%

Doug Jackman is an Executive Vice President of Thomas White International, Ltd. which he joined in 1995. He is a member of the Thomas White Investment Committee. Mr. Jackman joined the firm after graduating from the MBA program at the University of Chicago with a major in Finance and Accounting. Earlier, he worked with Morgan Stanley in New York, developing equity and FX trading systems. He has a BA degree from the University of Chicago where he served as a research assistant at the Center for Research in Security Prices. Doug is an active member of the CFA Society of Chicago.

Wei Li

Start Date

Tenure

Tenure Rank

Feb 28, 2016

6.26

6.3%

Dr. Li joined Thomas White International in 1994 and covers Asian companies, including the Far East and Indian sub-continent markets. As a part of the Thomas White Investment Committee, he participates in the review of each portfolio adjustment suggested by the firm’s security analysts. Wei was earlier a research associate in Operations Research at Rensselaer Polytechnic Institute where he studied investments and finance. Prior to that, he was a postdoctoral Fellow at McGill University in Montreal. Dr. Li received his PhD from Purdue University. He is a native of Nanjing, China, where he received his B.S. and M.S. degrees from Nanjing Normal and Nanjing University.

Jinwen Zhang

Start Date

Tenure

Tenure Rank

Feb 28, 2016

6.26

6.3%

Dr. Zhang is the Director of Research at Thomas White International. She is responsible for companies in the healthcare industry both in the U.S. and internationally. As a senior member of the Thomas White Investment Committee, she participates in the group’s review of portfolio adjustments recommended by security analysts at the firm. Prior to joining Thomas White, Dr. Zhang was a research scientist and instructor at Rush Medical College in Chicago. Earlier, she was a researcher at the Chinese Academy of Science in Beijing. In the field of Biochemistry, she has a B.S. from Beijing University and a PhD from Iowa State University. Dr. Zhang also has an MBA from the University of Chicago in Finance and Accounting.

Jianzhong (John) Wu

Start Date

Tenure

Tenure Rank

Feb 28, 2016

6.26

6.3%

Dr. Wu joined Thomas White International in 1997 and is a member of the firm’s Investment Committee. Designing many of the firm’s industry-specific valuation techniques, Dr. Wu covers energy stocks in North America and Europe and emerging markets stocks in Eastern Europe and the Middle East. John left the firm in 2007 to work with Crabel, a hedge fund, and returned to his former position in 2009. Prior to Thomas White, John was a research assistant with the University of Wisconsin System Trust Fund. Earlier he worked at the Chinese Ministry of Nuclear Industry after receiving a B.S. in Nuclear Engineering from Tsinghua University in Beijing. Furthering his education in America, he earned a Ph.D. in Physics, and an M.S. in Finance, Banking and Investments from the University of Wisconsin.

Rex Mathew

Start Date

Tenure

Tenure Rank

Dec 06, 2016

5.48

5.5%

Rex is responsible for fundamental research on companies based in India for the firm’s international and emerging markets portfolios. In addition, he leads the global macro and industry analysis efforts that supports the firm’s investment research by adding broader context and perspective to company level analysis. He is also responsible for the portfolio reviews and commentary for the Thomas White Funds as well as institutional accounts at the firm. Rex joined Thomas White’s Bangalore office in 2007 as the manager of Global Markets Research group. Prior to that, he was a financial columnist covering the financial markets and the economy for one of the leading online publications in India.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 38.44 7.37 5.78

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