XHIEX: Miller/Howard High Income Equity Fund - MutualFunds.com
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Miller/Howard High Income Equity

XHIEX - Snapshot

Vitals

  • YTD Return 24.3%
  • 3 Yr Annualized Return 8.8%
  • 5 Yr Annualized Return 7.6%
  • Net Assets $207 M
  • Holdings in Top 10 36.2%

52 WEEK LOW AND HIGH

$10.81
$6.78
$11.64

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.70%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 277.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) N/A
  • IRA N/A

Fund Classification


Compare XHIEX to Popular U.S. Mid-Cap Value Equity Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$58.05

-0.43%

$33.92 B

1.48%

$0.86

19.37%

0.78%

$141.06

+0.01%

$26.78 B

1.41%

$1.99

19.53%

0.07%

$55.56

-0.50%

$26.78 B

-

$0.00

18.64%

0.19%

$27.93

-0.50%

$18.65 B

0.66%

$0.19

19.77%

0.86%

$45.17

-0.40%

$17.15 B

1.00%

$0.45

22.28%

0.75%

XHIEX - Profile

Distributions

  • YTD Total Return 24.3%
  • 3 Yr Annualized Total Return 8.8%
  • 5 Yr Annualized Total Return 7.6%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.39%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Miller/Howard High Income Equity Fund
  • Fund Family Name
    Miller/Howard Investments, Inc.
  • Inception Date
    Nov 25, 2014
  • Shares Outstanding
    18690675
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Bryan Spratt

Fund Description

N/A


XHIEX - Performance

Return Ranking - Trailing

Period XHIEX Return Category Return Low Category Return High Rank in Category (%)
YTD 24.3% -59.3% 37.6% 12.79%
1 Yr 61.4% 24.7% 102.5% 21.04%
3 Yr 8.8%* 0.0% 21.9% 77.26%
5 Yr 7.6%* 2.1% 20.2% 99.49%
10 Yr N/A* 6.1% 13.5% N/A

* Annualized

Return Ranking - Calendar

Period XHIEX Return Category Return Low Category Return High Rank in Category (%)
2020 -21.0% -49.5% 626.7% 99.27%
2019 9.7% -8.1% 40.9% 95.44%
2018 -21.2% -56.9% -2.2% 51.04%
2017 -3.5% -62.6% 24.1% 93.12%
2016 1.0% -14.6% 28.1% 96.39%

Total Return Ranking - Trailing

Period XHIEX Return Category Return Low Category Return High Rank in Category (%)
YTD 24.3% -59.1% 38.3% 11.30%
1 Yr 61.4% 18.5% 102.5% 19.67%
3 Yr 8.8%* 0.0% 21.9% 65.97%
5 Yr 7.6%* 2.1% 20.2% 95.63%
10 Yr N/A* 6.1% 13.5% N/A

* Annualized

Total Return Ranking - Calendar

Period XHIEX Return Category Return Low Category Return High Rank in Category (%)
2020 -21.0% -49.5% 626.7% 99.27%
2019 9.7% -8.1% 40.9% 95.44%
2018 -21.2% -32.7% -2.2% 67.62%
2017 -3.5% -8.7% 26.9% 98.85%
2016 1.0% -11.2% 29.0% 99.10%

NAV & Total Return History


XHIEX - Holdings

Concentration Analysis

XHIEX Category Low Category High XHIEX % Rank
Net Assets 207 M 5.67 M 33.9 B 76.48%
Number of Holdings 51 8 2401 73.28%
Net Assets in Top 10 93.9 M 2.1 K 8.33 B 50.00%
Weighting of Top 10 36.24% 4.9% 100.0% 17.21%

Top 10 Holdings

  1. Canadian Natural Resources Ltd 4.04%
  2. Best Buy Co Inc 3.99%
  3. Highwoods Properties Inc 3.97%
  4. Brandywine Realty Trust 3.93%
  5. Altria Group Inc 3.80%
  6. BP PLC ADR 3.74%
  7. Magna International Inc Class A 3.66%
  8. Lamar Advertising Co Class A 3.65%
  9. Cardinal Health Inc 3.63%
  10. Hercules Capital Inc 3.52%

Asset Allocation

Weighting Return Low Return High XHIEX % Rank
Stocks
98.90% 63.29% 106.01% 42.91%
Cash
1.10% -6.02% 36.70% 56.28%
Preferred Stocks
0.00% 0.00% 6.63% 18.22%
Other
0.00% -0.08% 5.21% 18.22%
Convertible Bonds
0.00% 0.00% 0.68% 15.18%
Bonds
0.00% 0.00% 6.45% 18.22%

Stock Sector Breakdown

Weighting Return Low Return High XHIEX % Rank
Energy
28.10% 0.00% 36.97% 0.81%
Financial Services
21.71% 0.00% 77.61% 30.77%
Consumer Cyclical
14.84% 0.00% 42.54% 26.72%
Real Estate
12.21% 0.00% 38.65% 6.48%
Communication Services
6.49% 0.00% 22.12% 16.60%
Healthcare
5.94% 0.00% 21.91% 73.68%
Consumer Defense
5.90% 0.00% 43.55% 41.09%
Utilities
3.33% 0.00% 31.92% 75.30%
Industrials
1.47% 0.00% 36.62% 96.96%
Technology
0.00% 0.00% 36.61% 97.37%
Basic Materials
0.00% 0.00% 20.84% 96.36%

Stock Geographic Breakdown

Weighting Return Low Return High XHIEX % Rank
US
81.09% 55.41% 103.91% 93.12%
Non US
17.81% 0.00% 41.38% 3.44%

XHIEX - Expenses

Operational Fees

XHIEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.70% 0.01% 2.78% 9.20%
Management Fee 1.25% 0.00% 1.25% 100.00%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.47% N/A

Sales Fees

XHIEX 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% 4.00% 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 277.00% 4.00% 322.00% 99.52%

XHIEX - Distributions

Dividend Yield Analysis

XHIEX Category Low Category High XHIEX % Rank
Dividend Yield 0.00% 0.00% 1.54% 21.86%

Dividend Distribution Analysis

XHIEX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Quarterly Annually

Net Income Ratio Analysis

XHIEX Category Low Category High XHIEX % Rank
Net Income Ratio 3.39% -1.16% 16.95% 2.40%

Capital Gain Distribution Analysis

XHIEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Dividend Payout History

View More +

XHIEX - Fund Manager Analysis

Managers

Bryan Spratt


Start Date

Tenure

Tenure Rank

Nov 25, 2014

6.6

6.6%

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).

Roger Young


Start Date

Tenure

Tenure Rank

Nov 25, 2014

6.6

6.6%

Roger G. Young, CFA, Portfolio Manager/Research Analyst, Principal, joined Miller/Howard in 2008. With a career in equity income securities spanning 40-plus years, Mr. Young has specialized industry knowledge of metals, communications, energy, MLPs, and financial services. Previously he was a portfolio manager for the Kenneth King Foundation, Director of Equities for the Public Employees Retirement Association of Colorado, portfolio manager at Equitable Life, and later, Transamerica Funds. At Transamerica, Mr. Young started and managed the Transamerica Capital Appreciation Fund, which received a 5-star ranking by Morningstar. He has been quoted in Forbes, Barron’s, Wall Street Journal, The Wall Street Transcript, and The Research Magazine Guide to Master Limited Partnerships (2011 and 2012). Mr. Young received a Bachelor of Science degree in Economics from the Wharton School, University of Pennsylvania. He earned a Bachelor of Foreign Trade from the Thunderbird School of Global Management, and an MBA from Michigan State University.

John Leslie


Start Date

Tenure

Tenure Rank

Nov 25, 2014

6.6

6.6%

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

6.6

6.6%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 34.67 7.67 10.01