Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 12/31/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
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%
Expense Ratio 6.65%
Front Load N/A
Deferred Load N/A
Turnover N/A
Redemption Fee N/A
Standard (Taxable)
N/A
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/31/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Absolute believes that there are important benefits that come from pursuing the Funds 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 Funds 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.
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
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 |
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
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 |
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 |
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 |
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 |
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 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 |
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 |
ACEFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | N/A |
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 | Category Low | Category High | ACEFX % Rank | |
---|---|---|---|---|
Dividend Yield | 5.35% | N/A | N/A | N/A |
ACEFX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None |
ACEFX | Category Low | Category High | ACEFX % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | N/A | N/A | N/A |
ACEFX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
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