Miller/Howard High Income Equity Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
10.1%
1 yr return
13.7%
3 Yr Avg Return
3.0%
5 Yr Avg Return
2.8%
Net Assets
$218 M
Holdings in Top 10
37.6%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.19%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 155.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Closed-end mutual fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
XHIEX - Profile
Distributions
- YTD Total Return 10.1%
- 3 Yr Annualized Total Return 3.0%
- 5 Yr Annualized Total Return 2.8%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.85%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMiller/Howard High Income Equity Fund
-
Fund Family NameMiller/Howard Investments, Inc.
-
Inception DateDec 15, 2014
-
Shares Outstanding18690675
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerBryan Spratt
Fund Description
XHIEX - Performance
Return Ranking - Trailing
Period | XHIEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 10.1% | 2.8% | 24.2% | 65.93% |
1 Yr | 13.7% | 11.2% | 39.4% | 99.73% |
3 Yr | 3.0%* | -2.9% | 13.8% | 85.52% |
5 Yr | 2.8%* | 0.3% | 16.7% | 99.43% |
10 Yr | N/A* | 1.4% | 11.6% | N/A |
* Annualized
Return Ranking - Calendar
Period | XHIEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -0.4% | -11.3% | 33.3% | 95.04% |
2022 | 2.3% | -41.6% | 2.3% | 0.28% |
2021 | 27.2% | -41.5% | 44.9% | 20.95% |
2020 | -21.0% | -29.0% | 22.1% | 99.43% |
2019 | 9.7% | -8.1% | 31.2% | 94.72% |
Total Return Ranking - Trailing
Period | XHIEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 10.1% | 2.8% | 24.2% | 65.93% |
1 Yr | 13.7% | 11.2% | 39.4% | 99.73% |
3 Yr | 3.0%* | -2.9% | 13.8% | 85.52% |
5 Yr | 2.8%* | 0.3% | 16.7% | 99.43% |
10 Yr | N/A* | 1.4% | 11.6% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | XHIEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -0.4% | -1.7% | 36.5% | 99.45% |
2022 | 2.3% | -35.0% | 2.4% | 0.56% |
2021 | 27.2% | 6.2% | 48.3% | 64.25% |
2020 | -21.0% | -22.9% | 23.2% | 99.72% |
2019 | 16.9% | -3.0% | 35.7% | 97.07% |
NAV & Total Return History
XHIEX - Holdings
Concentration Analysis
XHIEX | Category Low | Category High | XHIEX % Rank | |
---|---|---|---|---|
Net Assets | 218 M | 991 K | 28 B | 77.20% |
Number of Holdings | 45 | 8 | 2308 | 88.74% |
Net Assets in Top 10 | 98.9 M | 319 K | 5.52 B | 64.29% |
Weighting of Top 10 | 37.55% | 4.6% | 100.2% | 9.89% |
Top 10 Holdings
- Energy Transfer LP 4.63%
- Altria Group Inc 4.22%
- BP PLC ADR 4.19%
- Highwoods Properties Inc 4.12%
- TotalEnergies SE ADR 4.07%
- TC Energy Corp 4.02%
- Shell PLC ADR (Representing - Ordinary Shares) 3.85%
- Cardinal Health Inc 3.70%
- Ford Motor Co 3.70%
- Magna International Inc Class A 3.66%
Asset Allocation
Weighting | Return Low | Return High | XHIEX % Rank | |
---|---|---|---|---|
Stocks | 98.20% | 56.67% | 103.53% | 61.26% |
Cash | 1.80% | 0.00% | 38.75% | 42.86% |
Preferred Stocks | 0.00% | 0.00% | 1.68% | 39.01% |
Other | 0.00% | -0.10% | 7.30% | 58.52% |
Convertible Bonds | 0.00% | 0.00% | 0.02% | 33.70% |
Bonds | 0.00% | 0.00% | 19.09% | 35.16% |
Stock Sector Breakdown
Weighting | Return Low | Return High | XHIEX % Rank | |
---|---|---|---|---|
Energy | 29.17% | 0.00% | 29.17% | 0.28% |
Consumer Cyclical | 18.11% | 0.00% | 29.62% | 5.80% |
Healthcare | 12.21% | 0.00% | 32.47% | 18.78% |
Financial Services | 10.92% | 0.00% | 60.11% | 95.30% |
Consumer Defense | 10.33% | 0.00% | 33.79% | 8.84% |
Real Estate | 6.47% | 0.00% | 40.74% | 67.40% |
Technology | 5.79% | 0.00% | 30.07% | 88.67% |
Communication Services | 3.97% | 0.00% | 19.80% | 27.62% |
Basic Materials | 3.02% | 0.00% | 23.88% | 79.56% |
Utilities | 0.00% | 0.00% | 24.69% | 93.09% |
Industrials | 0.00% | 0.00% | 29.02% | 99.45% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | XHIEX % Rank | |
---|---|---|---|---|
US | 79.13% | 56.67% | 103.53% | 98.08% |
Non US | 19.07% | 0.00% | 33.85% | 1.10% |
XHIEX - Expenses
Operational Fees
XHIEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.19% | 0.06% | 16.92% | 4.41% |
Management Fee | 1.00% | 0.00% | 1.20% | 99.18% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.40% | N/A |
Sales Fees
XHIEX 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% | 4.00% | N/A |
Trading Fees
XHIEX 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.
XHIEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 155.00% | 0.00% | 227.00% | 97.59% |
XHIEX - Distributions
Dividend Yield Analysis
XHIEX | Category Low | Category High | XHIEX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 22.79% | 95.04% |
Dividend Distribution Analysis
XHIEX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annual | Annual | Annual |
Net Income Ratio Analysis
XHIEX | Category Low | Category High | XHIEX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.85% | -1.84% | 4.73% | 1.66% |
Capital Gain Distribution Analysis
XHIEX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Jun 20, 2019 | $0.116 | OrdinaryDividend |
May 23, 2019 | $0.116 | OrdinaryDividend |
Apr 24, 2019 | $0.116 | OrdinaryDividend |
Mar 21, 2019 | $0.116 | OrdinaryDividend |
Feb 21, 2019 | $0.116 | OrdinaryDividend |
Jan 23, 2019 | $0.116 | OrdinaryDividend |
Dec 20, 2018 | $0.116 | OrdinaryDividend |
Nov 21, 2018 | $0.116 | OrdinaryDividend |
Oct 24, 2018 | $0.116 | OrdinaryDividend |
Sep 20, 2018 | $0.116 | OrdinaryDividend |
Aug 23, 2018 | $0.116 | OrdinaryDividend |
Jul 24, 2018 | $0.116 | OrdinaryDividend |
Jun 21, 2018 | $0.116 | OrdinaryDividend |
May 24, 2018 | $0.116 | OrdinaryDividend |
Apr 24, 2018 | $0.116 | OrdinaryDividend |
Mar 21, 2018 | $0.116 | OrdinaryDividend |
Feb 21, 2018 | $0.116 | OrdinaryDividend |
Jan 23, 2018 | $0.116 | OrdinaryDividend |
Dec 21, 2017 | $0.116 | OrdinaryDividend |
Nov 21, 2017 | $0.116 | OrdinaryDividend |
Oct 23, 2017 | $0.116 | OrdinaryDividend |
Sep 21, 2017 | $0.116 | OrdinaryDividend |
Aug 23, 2017 | $0.116 | OrdinaryDividend |
Jul 20, 2017 | $0.116 | OrdinaryDividend |
Jun 21, 2017 | $0.116 | OrdinaryDividend |
May 23, 2017 | $0.116 | OrdinaryDividend |
Apr 18, 2017 | $0.116 | OrdinaryDividend |
Mar 20, 2017 | $0.116 | OrdinaryDividend |
Feb 21, 2017 | $0.116 | OrdinaryDividend |
Jan 18, 2017 | $0.116 | OrdinaryDividend |
Dec 19, 2016 | $0.116 | OrdinaryDividend |
Nov 17, 2016 | $0.116 | OrdinaryDividend |
Oct 19, 2016 | $0.116 | OrdinaryDividend |
Sep 20, 2016 | $0.116 | OrdinaryDividend |
Aug 19, 2016 | $0.116 | OrdinaryDividend |
Jul 19, 2016 | $0.116 | OrdinaryDividend |
Jun 17, 2016 | $0.116 | OrdinaryDividend |
May 18, 2016 | $0.116 | OrdinaryDividend |
Apr 19, 2016 | $0.116 | OrdinaryDividend |
Mar 18, 2016 | $0.116 | OrdinaryDividend |
Feb 17, 2016 | $0.116 | OrdinaryDividend |
Jan 19, 2016 | $0.116 | OrdinaryDividend |
Dec 21, 2015 | $0.116 | OrdinaryDividend |
Nov 18, 2015 | $0.116 | OrdinaryDividend |
Oct 20, 2015 | $0.116 | OrdinaryDividend |
Sep 18, 2015 | $0.116 | OrdinaryDividend |
Aug 19, 2015 | $0.116 | OrdinaryDividend |
Jul 21, 2015 | $0.116 | OrdinaryDividend |
Jun 18, 2015 | $0.116 | OrdinaryDividend |
May 19, 2015 | $0.116 | OrdinaryDividend |
Apr 20, 2015 | $0.116 | OrdinaryDividend |
Mar 19, 2015 | $0.116 | OrdinaryDividend |
Feb 17, 2015 | $0.116 | OrdinaryDividend |
Jan 20, 2015 | $0.116 | OrdinaryDividend |
XHIEX - Fund Manager Analysis
Managers
Bryan Spratt
Start Date
Tenure
Tenure Rank
Nov 25, 2014
7.52
7.5%
Bryan J. Spratt, CFA, has been a research analyst and portfolio manager with Miller/Howard since he joined the firm in 2004, and focuses on utilities, telecommunications, and energy. Byan has worked as an analyst and portfolio manager since 1990. Previously, at Munder Capital (1994‑2001), Mr. Spratt was a member of the Energy and Power Team. From 2001‑2004, he was responsible for utilities and telecom for the value team at Banc One Investment Advisors and the One Group Funds, which ranked among the largest asset managers in the US prior to its acquisition by JP Morgan Chase & Co. Bryan was featured in The Poughkeepsie Journal and The Wall Street Transcript. He received a Bachelor of Arts in Economics/Computer Science from Spring Arbor College (graduating summa cum laude).
John Leslie
Start Date
Tenure
Tenure Rank
Nov 25, 2014
7.52
7.5%
John (Jack) E. Leslie III, CFA, has been a research analyst and portfolio manager with Miller/Howard since 2004. He adds extensive experience in quantitative modeling and screening in the equity markets to his analytic strengths. Jack has a high level of expertise in both fundamental and quantitative research skills, and in managing large pools of institutional assets. Prior to joining Miller/Howard, Jack was a portfolio manager at Value Line Asset Management, M&T Capital Advisors Group (a division of M&T Bank Corp.), and Dewey Square Investors Corp. (now part of Old Mutual Asset Management). He has been interviewed by the Wall Street Journal, Barron’s, Fortune, and Forbes Online, and has been a featured guest on TheStreet.com, After the Bell on Fox Business, and Money Life with Chuck Jaffe. Jack earned his BS degree in Finance from Suffolk University and an MBA from Babson College.
Gregory Powell
Start Date
Tenure
Tenure Rank
Nov 25, 2014
7.52
7.5%
Lowell G. Miller has been the Chief Investment Officer and Director of Research of Miller/Howard since founding the firm in 1984. He began his studies of the securities markets as an undergraduate, and has continuously pursued the notion of disciplined investment strategies for more than 30 years. He authored of three critically acclaimed books on investing, including The Single Best Investment: Creating Wealth with Dividend Growth (Print Project, Second Edition, 2006). Lowell has also written on financial subjects for the New York Times Magazine, and was a featured guest on Louis Rukeyser’s Wall $treet Week and CNN-FN. He is often quoted in financial media as Investor’s Business Daily, The Wall Street Journal, Dow Jones Newswires, Bloomberg, Fortune, and Barron’s. He received a Bachelor of Science from Sarah Lawrence College and a Juris Doctor from New York University School of Law.
Michael Roomberg
Start Date
Tenure
Tenure Rank
Jan 01, 2016
6.42
6.4%
Michael Roomberg, CFA, has been a research analyst with Miller/Howard since 2013 and promoted to portfolio manager in 2015. He received a Bachelor of Arts in International Relations, Economics, and Finance from University of Wisconsin‑Madison, and a Master of Business Administration from Georgetown University’s McDonough School of Business (with honors). Mr. Roomberg began his career as a research associate in 2008, at Boenning & Scattergood, a financial services firm in greater Philadelphia. There he specialized in Energy Exploration & Production and Water Utilities & Industrials. Prior to joining Miller/Howard, he served as Head of Water/Infrastructure Equity Research at Ladenburg Thalmann & Co. in New York City.
Adam Fackler
Start Date
Tenure
Tenure Rank
Jan 01, 2016
6.42
6.4%
Adam Fackler, CFA, Portfolio Manager, focuses on utilities, telecommunications, and midstream energy including master limited partnerships (MLPs). Prior to joining Miller/Howard in 2016, Adam spent 10 years at Rodman & Redshaw and KLR Group, focusing on MLPs, and at MLV & Co., covering exploration & production companies and MLPs. Adam holds a BS in Business Administration with a minor in Economics from Bucknell University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.59 | 8.16 | 10.92 |