Continue to site >
Trending ETFs

Absolute CEF Opportunities

mutual fund
ACEFX
Payout Change
Pending
Price as of:
$5.9 -0.08 -1.34%
primary theme
N/A
share class
ACEFX (Mutual Fund)

Absolute CEF Opportunities

Payout Change
Pending
Price as of:
$5.9 -0.08 -1.34%
primary theme
N/A
share class
ACEFX (Mutual Fund)

Absolute CEF Opportunities

Payout Change
Pending
Price as of:
$5.9 -0.08 -1.34%
primary theme
N/A
share class

Name

As of 12/31/2024

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

$5.90

$20.1 M

5.35%

$0.32

6.65%

Vitals

YTD Return

0.0%

1 yr return

-7.4%

3 Yr Avg Return

-4.0%

5 Yr Avg Return

-5.5%

Net Assets

$20.1 M

Holdings in Top 10

70.4%

52 WEEK LOW AND HIGH

$6.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 6.65%

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

Open End Mutual Fund


Name

As of 12/31/2024

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

$5.90

$20.1 M

5.35%

$0.32

6.65%

ACEFX - Profile

Distributions

  • YTD Total Return 0.0%
  • 3 Yr Annualized Total Return -4.0%
  • 5 Yr Annualized Total Return -5.5%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 5.3%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Absolute CEF Opportunities
  • Fund Family Name
    N/A
  • Inception Date
    Sep 04, 2001
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US

Fund Description

Absolute believes that there are important benefits that come from pursuing the Fund’s investment objective by primarily investing, under normal circumstances, at least 80% of its net assets (plus the amount of any borrowings for investment purposes) will be investments in publicly traded closed-end funds (“CEFs”), including buying securities issued by CEFs, or selling short CEF securities. The Adviser believes that certain features of CEFs can create significant market inefficiencies, and the Fund will opportunistically pursue investments created by or otherwise related to those inefficiencies. One such market inefficiency relates to differences between the trading price of the shares of a CEF as compared to the net asset value (“NAV”) of the securities and other assets held by that CEF.

The Adviser focuses on relative value and event driven strategies in any given asset class.

A relative value assessment involves identifying securities that the Adviser believes are mispriced relative to their NAV. The Adviser purchases securities that it believes are undervalued and shorts securities that it believes are overvalued. Relative value trades tend to be longer in nature as the Adviser buys long or sells short a CEF when that security is believed to be mispriced. Typically, the Adviser will believe there is a catalyst that will push the price of the security up or down. Some catalysts include dividend changes, activist ownership, interest rate changes, and other market conditions.

An event-driven strategy is when the Adviser opportunistically invests in a security when the Adviser believes an upcoming circumstance or situation has the potential to produce positive returns. Event-driven opportunities tend to be shorter-term in nature. These potential investments are expected to be more dependent on the outcome of special situations or corporate actions related to a CEF. Some of these events include tender offers, rights offerings, fund mergers, and fund liquidations, or fund conversions into an ETF or an open-end fund, among others.

Shorting may be used in two main ways:

1. Strategically hedge out exposure to a certain sector (i.e., mitigating risk)
2. As part of its “Event Driven” strategy by shorting a security when the Adviser believes the price will decline based on news, e.g. CEF cuts their dividend, or future event, i.e., a fund is merging into another fund, and as part of its “Relative Value” strategy by shorting a security that the Adviser believes to be overvalued relative to its NAV.

Other Investments

Although the Fund will invest primarily in CEFs, the Adviser may also invest a portion of the Fund’s assets in exchange-traded funds (“ETFs”). The Fund may utilize ETFs to gain market exposure, or as a hedge. ETFs differ from CEFs in that institutional investors can create and redeem shares on a daily basis., and therefore, their share prices are typically very close to NAV.

Read More

ACEFX - Performance

Return Ranking - Trailing

Period ACEFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% N/A N/A N/A
1 Yr -7.4% N/A N/A N/A
3 Yr -4.0%* N/A N/A N/A
5 Yr -5.5%* N/A N/A N/A
10 Yr -5.9%* N/A N/A N/A

* Annualized

Return Ranking - Calendar

Period ACEFX Return Category Return Low Category Return High Rank in Category (%)
2024 -9.2% N/A N/A N/A
2023 -12.4% N/A N/A N/A
2022 8.5% N/A N/A N/A
2021 -16.1% N/A N/A N/A
2020 0.7% N/A N/A N/A

Total Return Ranking - Trailing

Period ACEFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% N/A N/A N/A
1 Yr -7.4% N/A N/A N/A
3 Yr -4.0%* N/A N/A N/A
5 Yr -5.5%* N/A N/A N/A
10 Yr -5.9%* N/A N/A N/A

* Annualized

Total Return Ranking - Calendar

Period ACEFX Return Category Return Low Category Return High Rank in Category (%)
2024 -6.8% N/A N/A N/A
2023 -12.4% N/A N/A N/A
2022 8.5% N/A N/A N/A
2021 -16.1% N/A N/A N/A
2020 0.7% N/A N/A N/A

NAV & Total Return History


ACEFX - Holdings

Concentration Analysis

ACEFX Category Low Category High ACEFX % Rank
Net Assets 20.1 M N/A N/A N/A
Number of Holdings 17 N/A N/A N/A
Net Assets in Top 10 3.65 M N/A N/A N/A
Weighting of Top 10 70.44% N/A N/A N/A

Top 10 Holdings

  1. First American Treasury Obligations Fund 40.38%
  2. Absolute Select Value ETF 24.87%
  3. VanEck Vectors Gold Miners ETF 3.07%
  4. Amplify Junior Silver Miners ETF 0.50%
  5. CitiMortgage Alternative Loan Trust Series 2006-A7 0.39%
  6. IndyMac INDX Mortgage Loan Trust 2006-AR25 0.33%
  7. Adjustable Rate Mortgage Trust 2005-12 0.31%
  8. Banc of America Funding 2007-E Trust 0.25%
  9. CHL Mortgage Pass-Through Trust 2007-HY5 0.18%
  10. Adjustable Rate Mortgage Trust 2006-1 0.17%

Asset Allocation

Weighting Return Low Return High ACEFX % Rank
Cash
73.47% N/A N/A N/A
Stocks
24.90% N/A N/A N/A
Other
1.62% N/A N/A N/A
Preferred Stocks
0.00% N/A N/A N/A
Convertible Bonds
0.00% N/A N/A N/A
Bonds
0.00% N/A N/A N/A

Stock Sector Breakdown

Weighting Return Low Return High ACEFX % Rank
Utilities
0.00% N/A N/A N/A
Technology
0.00% N/A N/A N/A
Real Estate
0.00% N/A N/A N/A
Industrials
0.00% N/A N/A N/A
Healthcare
0.00% N/A N/A N/A
Financial Services
0.00% N/A N/A N/A
Energy
0.00% N/A N/A N/A
Communication Services
0.00% N/A N/A N/A
Consumer Defense
0.00% N/A N/A N/A
Consumer Cyclical
0.00% N/A N/A N/A
Basic Materials
0.00% N/A N/A N/A

Stock Geographic Breakdown

Weighting Return Low Return High ACEFX % Rank
US
24.90% N/A N/A N/A
Non US
0.00% N/A N/A N/A

ACEFX - Expenses

Operational Fees

ACEFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 6.65% N/A N/A N/A
Management Fee 1.40% N/A N/A N/A
12b-1 Fee N/A N/A N/A N/A
Administrative Fee N/A N/A N/A N/A

Sales Fees

ACEFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A N/A N/A N/A
Deferred Load N/A N/A N/A N/A

Trading Fees

ACEFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 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.

ACEFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A N/A N/A N/A

ACEFX - Distributions

Dividend Yield Analysis

ACEFX Category Low Category High ACEFX % Rank
Dividend Yield 5.35% N/A N/A N/A

Dividend Distribution Analysis

ACEFX Category Low Category High Category Mod
Dividend Distribution Frequency None

Net Income Ratio Analysis

ACEFX Category Low Category High ACEFX % Rank
Net Income Ratio N/A N/A N/A N/A

Capital Gain Distribution Analysis

ACEFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency

Distributions History

View More +

ACEFX - Fund Manager Analysis

Tenure Analysis

Category Low Category High Category Average Category Mode
N/A N/A N/A N/A