Name
As of 03/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.2%
1 yr return
12.8%
3 Yr Avg Return
3.0%
5 Yr Avg Return
N/A
Net Assets
$40.7 M
Holdings in Top 10
31.4%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.15%
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
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
VEITX - Profile
Distributions
- YTD Total Return 1.2%
- 3 Yr Annualized Total Return 3.0%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.14%
- Dividend Yield 2.3%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameVELA International Fund
-
Fund Family NameVELA Funds
-
Inception DateSep 30, 2020
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRobert Sharpe
Fund Description
The fund, under normal market conditions, invests its assets primarily in non-U.S. equity securities of companies of any size (including small capitalization, mid capitalization and large capitalization companies) that the Adviser believes are undervalued. Equity securities consist of common and preferred stocks. Under normal market conditions, the fund will invest at least 80% of its net assets in securities issued by companies (i) that are headquartered or have their principal place of business outside the U.S., (ii) whose primary trading markets are outside the U.S. or (iii) that have at least 50% of their assets in, or derive at least 50% of their total revenues or profits from, goods or services produced in or sales made in countries outside the U.S. The fund intends to diversify its investments across different countries and regions. The fund may invest up to 30% of its total assets in securities of companies located in emerging market countries. Emerging market countries include those generally recognized to be an emerging market country by the international financial community; classified by the United Nations as a developing country; or classified as an emerging market country by Morningstar, Inc., or other index or data provider.
The Adviser focuses on estimating a company’s value independent of its current stock price. To estimate a company’s value, the Adviser concentrates on the fundamental economic drivers of the business. The primary focus is on “bottom-up” analysis, which takes into consideration earnings, revenue growth, operating margins, balance sheet strength, free cash flow generation, management stewardship, and other economic factors. The Adviser also considers the level of industry competition, regulatory factors, the threat of technological obsolescence, and a variety of other industry factors. If the Adviser’s estimate of a company’s value differs sufficiently from the current market price, the company may be an attractive investment opportunity. In constructing a portfolio of securities, the Adviser is not constrained by the sector or industry weights in the benchmark. The Adviser relies on individual stock selection and discipline in the investment process to add value. The highest portfolio security weights are assigned to companies where the Adviser has the highest level of confidence.
Once a stock is selected, the Adviser continues to monitor the company’s strategies, financial performance, and competitive environment. The Adviser may sell a security as it reaches the Adviser’s estimate of the company’s value if it believes that the company’s earnings, revenue growth, operating margin or other economic factors are deteriorating, if the company’s stock price is discounting more than the company’s long range earnings potential, or if it identifies a stock that it believes offers a better investment opportunity.
VEITX - Performance
Return Ranking - Trailing
Period | VEITX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.2% | -1.6% | 32.0% | 98.09% |
1 Yr | 12.8% | 0.9% | 28.3% | 88.64% |
3 Yr | 3.0%* | -13.1% | 49.3% | 39.45% |
5 Yr | N/A* | -33.7% | 77.2% | N/A |
10 Yr | N/A* | 0.0% | 16.8% | N/A |
* Annualized
Return Ranking - Calendar
Period | VEITX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.3% | -7.3% | 22.0% | 49.63% |
2022 | -8.4% | -43.6% | 71.3% | 1.05% |
2021 | 6.6% | -28.5% | 18.9% | 35.28% |
2020 | N/A | -90.1% | 992.1% | N/A |
2019 | N/A | -2.2% | 38.8% | N/A |
Total Return Ranking - Trailing
Period | VEITX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.2% | -1.6% | 32.0% | 98.09% |
1 Yr | 12.8% | 0.9% | 28.3% | 88.64% |
3 Yr | 3.0%* | -13.1% | 49.3% | 39.45% |
5 Yr | N/A* | -33.7% | 77.2% | N/A |
10 Yr | N/A* | 0.0% | 16.8% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | VEITX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 15.9% | 3.2% | 41.4% | 54.36% |
2022 | -6.9% | -43.6% | 144.8% | 1.65% |
2021 | 7.3% | -22.6% | 56.0% | 78.07% |
2020 | N/A | -89.7% | 1010.8% | N/A |
2019 | N/A | 4.3% | 38.8% | N/A |
NAV & Total Return History
VEITX - Holdings
Concentration Analysis
VEITX | Category Low | Category High | VEITX % Rank | |
---|---|---|---|---|
Net Assets | 40.7 M | 1.97 M | 366 B | 90.84% |
Number of Holdings | 51 | 1 | 10801 | 83.21% |
Net Assets in Top 10 | 13.7 M | 0 | 36.8 B | 91.24% |
Weighting of Top 10 | 31.37% | 2.5% | 111.6% | 26.36% |
Top 10 Holdings
- Federated Hermes Treasury Oligations Fund 7.44%
- Johnson Electric Holdings Ltd. 3.10%
- WH Group Ltd. 2.87%
- Infineon Technologies AG 2.79%
- TotalEnergies SE 2.65%
- Nintendo Co. Ltd. 2.59%
- Serco Group PLC 2.54%
- Telekom Austria AG 2.50%
- Svenska Handelsbanken AB 2.48%
- VTech Holdings Ltd. 2.41%
Asset Allocation
Weighting | Return Low | Return High | VEITX % Rank | |
---|---|---|---|---|
Stocks | 88.15% | 0.00% | 122.60% | 94.16% |
Cash | 8.29% | -22.43% | 100.00% | 4.09% |
Preferred Stocks | 3.56% | -0.01% | 7.60% | 3.07% |
Other | 0.00% | -2.97% | 43.01% | 60.58% |
Convertible Bonds | 0.00% | 0.00% | 4.18% | 40.12% |
Bonds | 0.00% | -0.68% | 71.30% | 45.84% |
Stock Sector Breakdown
Weighting | Return Low | Return High | VEITX % Rank | |
---|---|---|---|---|
Consumer Defense | 18.70% | 0.00% | 32.29% | 4.04% |
Industrials | 16.63% | 5.17% | 99.49% | 24.66% |
Consumer Cyclical | 13.91% | 0.00% | 36.36% | 11.66% |
Basic Materials | 12.58% | 0.00% | 23.86% | 4.33% |
Communication Services | 9.87% | 0.00% | 21.69% | 10.61% |
Healthcare | 9.04% | 0.00% | 21.01% | 84.30% |
Financial Services | 8.06% | 0.00% | 47.75% | 95.81% |
Energy | 7.20% | 0.00% | 16.89% | 12.11% |
Technology | 4.01% | 0.00% | 36.32% | 96.71% |
Utilities | 0.00% | 0.00% | 13.68% | 91.33% |
Real Estate | 0.00% | 0.00% | 14.59% | 84.45% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | VEITX % Rank | |
---|---|---|---|---|
Non US | 82.28% | 0.00% | 121.07% | 76.06% |
US | 5.87% | 0.00% | 103.55% | 48.91% |
VEITX - Expenses
Operational Fees
VEITX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.15% | 0.01% | 18.22% | 40.64% |
Management Fee | 0.75% | 0.00% | 1.65% | 68.13% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 4.81% |
Administrative Fee | N/A | 0.01% | 1.00% | N/A |
Sales Fees
VEITX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
VEITX 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.
VEITX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 2.00% | 247.00% | N/A |
VEITX - Distributions
Dividend Yield Analysis
VEITX | Category Low | Category High | VEITX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.25% | 0.00% | 24.61% | 47.82% |
Dividend Distribution Analysis
VEITX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | SemiAnnual | SemiAnnual |
Net Income Ratio Analysis
VEITX | Category Low | Category High | VEITX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.14% | -0.93% | 6.38% | 68.31% |
Capital Gain Distribution Analysis
VEITX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Monthly | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 21, 2023 | $0.293 | OrdinaryDividend |
Dec 22, 2022 | $0.187 | OrdinaryDividend |
Dec 22, 2021 | $0.081 | OrdinaryDividend |
VEITX - Fund Manager Analysis
Managers
Robert Sharpe
Start Date
Tenure
Tenure Rank
Sep 30, 2020
1.67
1.7%
Mr. Sharpe is a Research Analyst and Portfolio Manager of the International Strategy. Mr. Sharpe joined VELA Investment Management, LLCin 2020. Mr. Sharpe has been with Heartland Advisors since April 1, 2013. From 2013 to 2018, Mr. Sharpe served as a Partner, Vice President, and Portfolio Manager of the International Value Fund at Heartland Advisors, Inc. and from 2018 to 2020 he was a private investor. Mr. Sharpe has industry experience since 1984, including Investment Analyst with Capital Group and STRS Ohio, where he held multiple roles with his final position being Portfolio Manager and Director of International Investments. Mr. Sharpe received a B.A. in Economics from Williams College.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 30.35 | 6.22 | 3.25 |