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Critical Facts You Need to Know About Preferred Stocks
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BALLAST SMALL/MID CAP ETF
Active ETF
MGMT
Payout Change
Pending
Price as of:
$42.1354
+0.06
+0.15%
primary theme
N/A
MGMT (ETF)
BALLAST SMALL/MID CAP ETF
Payout Change
Pending
Price as of:
$42.1354
+0.06
+0.15%
primary theme
N/A
MGMT (ETF)
BALLAST SMALL/MID CAP ETF
Payout Change
Pending
Price as of:
$42.1354
+0.06
+0.15%
primary theme
N/A
Name
As of 11/20/2024Price
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
Vitals
YTD Return
13.9%
1 yr return
24.6%
3 Yr Avg Return
5.1%
5 Yr Avg Return
N/A
Net Assets
$134 M
Holdings in Top 10
33.3%
52 WEEK LOW AND HIGH
$42.1
$34.02
$42.62
Expenses
OPERATING FEES
Expense Ratio 1.26%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 11/20/2024Price
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
MGMT - Profile
Distributions
- YTD Total Return 13.9%
- 3 Yr Annualized Total Return 5.1%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 1.0%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameBALLAST SMALL/MID CAP ETF
-
Fund Family NameN/A
-
Inception DateDec 02, 2020
-
Shares OutstandingN/A
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRagen Stienke
Fund Description
Ballast Asset Management, LP, the Fund’s investment adviser (the “Adviser”), seeks to generate positive risk adjusted returns, meaning positive rates of return after adjustment for the amount of risk taken, by investing primarily in equity securities of small and midsize U.S. companies that the Adviser believes are underpriced due to misperception of future earnings growth relative to the Adviser’s expectations for growth over the long-term. The Adviser considers small capitalization and mid capitalization companies to be those with market capitalizations between $100 million and $15 billion at the time of the initial purchase. The Fund may invest in companies in any economic sector.
The Adviser, which actively manages the Fund, emphasizes investments in high quality, financially sound companies that have the ability to execute their business plans in both favorable and unfavorable environments leading to outperformance over the long term. In identifying investments, the Adviser evaluates the company as a whole, including (1) whether management teams have demonstrated successful operation of their businesses in unfavorable and favorable market environments; (2) balance sheets; (3) cash flow; and (4) return on capital.
Under normal circumstances, the Fund invests at least 80% of the value of its net assets (plus borrowings for investment purposes) in equity securities (principally common stocks) of domestic companies with small to medium market capitalizations (the “80% Policy”). The 80% Policy is a non-fundamental investment policy and therefore may be changed by the Board upon at least sixty days’ notice to shareholders.
The Fund may also invest all or substantially all of its assets in cash and cash equivalents, including money market funds and other short-term fixed income investments, in seeking to protect principal, or when, in the Adviser’s opinion, there are not sufficient companies appropriate for investment. As an alternative to holding cash or cash equivalents, the Adviser may invest the Fund’s assets in shares of other investment companies, including open-end and closed-end funds and exchange traded funds (“ETFs”) (collectively, “Underlying Funds”) in order for the Fund to be more fully invested.
MGMT - Performance
Return Ranking - Trailing
| Period | MGMT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 13.9% | -29.2% | 152.4% | 93.79% |
| 1 Yr | 24.6% | -43.9% | 161.5% | 52.77% |
| 3 Yr | 5.1%* | -21.6% | 36.4% | N/A |
| 5 Yr | N/A* | -23.1% | 10.2% | N/A |
| 10 Yr | N/A* | -10.8% | 15.6% | N/A |
* Annualized
Return Ranking - Calendar
| Period | MGMT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 16.5% | -71.0% | 118.2% | 0.33% |
| 2022 | -15.3% | -17.3% | 18.6% | N/A |
| 2021 | 40.4% | -25.4% | 350.1% | N/A |
| 2020 | N/A | -31.9% | 8.4% | N/A |
| 2019 | N/A | -62.1% | 21.1% | N/A |
Total Return Ranking - Trailing
| Period | MGMT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 13.9% | -29.2% | 152.4% | 97.06% |
| 1 Yr | 24.6% | -43.9% | 161.5% | 52.93% |
| 3 Yr | 5.1%* | -21.6% | 36.4% | N/A |
| 5 Yr | N/A* | -23.1% | 10.2% | N/A |
| 10 Yr | N/A* | -7.3% | 15.6% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | MGMT Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 17.9% | -71.0% | 118.2% | 0.33% |
| 2022 | -14.6% | -17.3% | 18.6% | N/A |
| 2021 | 40.8% | -25.4% | 28.2% | N/A |
| 2020 | N/A | -31.9% | 8.4% | N/A |
| 2019 | N/A | -19.9% | 26.5% | N/A |
MGMT - Holdings
Concentration Analysis
| MGMT | Category Low | Category High | MGMT % Rank | |
|---|---|---|---|---|
| Net Assets | 134 M | 1.48 M | 120 B | 82.80% |
| Number of Holdings | 51 | 2 | 2519 | 92.91% |
| Net Assets in Top 10 | 48.6 M | 6 K | 4.6 B | 76.33% |
| Weighting of Top 10 | 33.32% | 2.6% | 100.0% | 9.80% |
Top 10 Holdings
- Natural Resource Partners, L.P. 5.20%
- Federal Agricultural Mortgage Corporation 3.70%
- Climb Global Solutions, Inc. 3.56%
- CONSOL Energy, Inc. 3.35%
- AZZ, Inc. 3.14%
- MGIC Investment Corporation 3.13%
- Cavco Industries, Inc. 3.03%
- Phinia, Inc. 3.01%
- Teradata Corporation 2.70%
- Bel Fuse, Inc. 2.51%
Asset Allocation
| Weighting | Return Low | Return High | MGMT % Rank | |
|---|---|---|---|---|
| Stocks | 99.61% | 25.32% | 100.32% | 28.50% |
| Cash | 0.39% | -79.10% | 74.68% | 70.37% |
| Preferred Stocks | 0.00% | 0.00% | 5.85% | 6.12% |
| Other | 0.00% | -8.80% | 6.95% | 7.09% |
| Convertible Bonds | 0.00% | 0.00% | 3.17% | 4.51% |
| Bonds | 0.00% | 0.00% | 72.07% | 4.51% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MGMT % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 18.58% | 52.52% |
| Technology | 0.00% | 0.00% | 54.70% | 46.50% |
| Real Estate | 0.00% | 0.00% | 29.43% | 60.16% |
| Industrials | 0.00% | 2.46% | 37.42% | 53.82% |
| Healthcare | 0.00% | 0.00% | 26.53% | 93.50% |
| Financial Services | 0.00% | 0.00% | 35.52% | 45.53% |
| Energy | 0.00% | 0.00% | 37.72% | 1.79% |
| Communication Services | 0.00% | 0.00% | 14.85% | 24.07% |
| Consumer Defense | 0.00% | 0.00% | 18.87% | 99.19% |
| Consumer Cyclical | 0.00% | 0.99% | 47.79% | 15.28% |
| Basic Materials | 0.00% | 0.00% | 18.66% | 2.11% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MGMT % Rank | |
|---|---|---|---|---|
| US | 99.61% | 24.89% | 100.00% | 76.49% |
| Non US | 0.00% | 0.00% | 36.31% | 10.47% |
MGMT - Expenses
Operational Fees
| MGMT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.26% | 0.03% | 2.78% | 38.27% |
| Management Fee | 0.95% | 0.00% | 1.50% | 90.98% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.45% | N/A |
Sales Fees
| MGMT 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% | 5.00% | N/A |
Trading Fees
| MGMT 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.
| MGMT Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.20% | 314.00% | N/A |
MGMT - Distributions
Dividend Yield Analysis
| MGMT | Category Low | Category High | MGMT % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.02% | 0.00% | 28.82% | 22.44% |
Dividend Distribution Analysis
| MGMT | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| MGMT | Category Low | Category High | MGMT % Rank | |
|---|---|---|---|---|
| Net Income Ratio | N/A | -2.40% | 2.49% | 53.36% |
Capital Gain Distribution Analysis
| MGMT | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 28, 2023 | $0.430 | OrdinaryDividend |
| Dec 29, 2022 | $0.286 | OrdinaryDividend |
| Dec 30, 2021 | $0.096 | OrdinaryDividend |
MGMT - Fund Manager Analysis
Managers
Ragen Stienke
Start Date
Tenure
Tenure Rank
Nov 30, 2020
1.5
1.5%
Ragen Stienke has over 20 years of experience in the financial services industry, spanning from early stage investing in start-ups to public equities. Before starting Ballast Asset Management, Ragen was the Senior Portfolio Manager of the SMid and SMid Plus products at Westwood Management, an investment firm with over $20bn in assets under management. Ragen joined Westwood in 2004, and was responsible for managing and growing the SMid product from its infancy to over $3bn. Upon closing the SMid product, Ragen launched a sister portfolio in SMid Plus where he raised nearly $1bn in assets. During his management of SMid, the portfolio had a 10 year track record that ranked in the top 10% against its respective peer group.1 Ragen was also a member of the Portfolio Risk Committee and the Business Management Committee at Westwood. Ragen graduated from the University of Texas at Austin with a B.A. in Economics. While pursuing his undergraduate degree, he worked at the IC2 Institute, a research unit of the University of Texas focused on fostering constructive forms of capitalism that accelerate economic development. Upon graduation, Ragen joined Arthur Andersen in the Business Valuation Group. In 2000, he accepted a position with UBS Investment Bank’s research group in New York. While at UBS, he spent three years as a research analyst focused on the software industry. In 2003, Ragen was promoted to Associate Director, where he served on the U.S. Equity Strategy team. Ragen received his CFA charter in 2003 and is a member of the CFA Institute and the Dallas Society of Financial Analysts.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 49.61 | 7.0 | 2.58 |
