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...
Ultra-Small Company Market Fund
mutual fund
BRSIX
Payout Change
Pending
Price as of:
$12.59
+0.21
+1.7%
primary theme
U.S. Small-Cap Value Equity
share class
BRSIX (Mutual Fund)
Ultra-Small Company Market Fund
Payout Change
Pending
Price as of:
$12.59
+0.21
+1.7%
primary theme
U.S. Small-Cap Value Equity
share class
BRSIX (Mutual Fund)
Ultra-Small Company Market Fund
Payout Change
Pending
Price as of:
$12.59
+0.21
+1.7%
primary theme
U.S. Small-Cap Value Equity
share class
Name
As of 12/20/2024Price
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
12.0%
1 yr return
16.5%
3 Yr Avg Return
-1.3%
5 Yr Avg Return
3.5%
Net Assets
$172 M
Holdings in Top 10
14.0%
52 WEEK LOW AND HIGH
$12.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.80%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 52.00%
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$2,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/20/2024Price
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
BRSIX - Profile
Distributions
- YTD Total Return 12.0%
- 3 Yr Annualized Total Return -1.3%
- 5 Yr Annualized Total Return 3.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.83%
- Dividend Yield 0.6%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameUltra-Small Company Market Fund
-
Fund Family NameBridgeway
-
Inception DateAug 06, 1999
-
Shares OutstandingN/A
-
Share ClassN
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Montgomery
Fund Description
The Fund aims to achieve its objective by approximating the total return of the CRSP Cap-Based Portfolio 10 Index (the “Index”) published by the Center for Research in Security Prices, LLC (“CRSP”), an affiliate of the University of Chicago over longer time periods. Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in ultra-small company stocks based on company size at the time of purchase. For purposes of the Fund’s investments, “ultra-small companies” are defined as those: (i) companies that have a market capitalization the size of the smallest 10% of companies listed on the New York Stock Exchange; or (ii) companies with a capitalization that falls within the range of capitalization of companies included in the Index as defined by CRSP. A majority of the stocks in the Fund are listed on Nasdaq. On June 30, 2024, the stocks in this group generally had a market capitalization of less than $279 million. Bridgeway Capital Management, LLC (the “Adviser”) invests in a representative sample of the companies included in the Index using a statistical approach. However, the Adviser also may invest in companies that are not included in the Index.
The Adviser’s investment process incorporates material environmental, social, and governance (“ESG”) information, when available, as a consideration in the ongoing assessment of potential portfolio securities. The Adviser uses ESG research and/or ratings information provided by third parties in performing this analysis and considering ESG risks. As with any consideration used in assessing portfolio securities, the Adviser may, at times, utilize ESG information to increase the weighting of an issuer with a good ESG record or decrease the weighting of an issuer with a poor ESG record. However, as ESG information is just one investment consideration, ESG considerations are not solely determinative in any investment decision made by the Adviser. ESG information for ultra-small companies may be limited, although the Adviser’s investment process incorporates this information when available.
Although the Fund seeks investments across a number of sectors, from time to time, based on portfolio positioning to reflect its benchmark, the Fund may have significant positions in particular sectors.
The Adviser also seeks to minimize the distribution of capital gains, within the constraints of the investment objective and ultra-small company focus, by offsetting capital gains with capital losses. By paying close attention to trading, the Adviser seeks to conduct such tax management without detriment to the overall Fund return.
The Fund may purchase stock market index futures in order to equitize cash.
BRSIX - Performance
Return Ranking - Trailing
| Period | BRSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 12.0% | -39.7% | 24.6% | 29.90% |
| 1 Yr | 16.5% | -39.1% | 26.7% | 5.50% |
| 3 Yr | -1.3%* | -10.8% | 74.6% | 99.02% |
| 5 Yr | 3.5%* | -6.4% | 50.5% | 98.45% |
| 10 Yr | 3.5%* | -3.1% | 27.4% | 96.70% |
* Annualized
Return Ranking - Calendar
| Period | BRSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.3% | -6.0% | 33.6% | 58.03% |
| 2022 | -25.0% | -33.6% | 212.9% | 89.46% |
| 2021 | -3.0% | -62.0% | 147.6% | 94.18% |
| 2020 | 21.3% | -24.8% | 31.3% | 1.81% |
| 2019 | 13.8% | -21.7% | 34.0% | 79.95% |
Total Return Ranking - Trailing
| Period | BRSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 12.0% | -39.7% | 24.6% | 29.90% |
| 1 Yr | 16.5% | -39.1% | 26.7% | 5.50% |
| 3 Yr | -1.3%* | -10.8% | 74.6% | 99.02% |
| 5 Yr | 3.5%* | -6.4% | 50.5% | 98.45% |
| 10 Yr | 3.5%* | -3.1% | 27.4% | 96.70% |
* Annualized
Total Return Ranking - Calendar
| Period | BRSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.4% | 1.8% | 35.4% | 80.34% |
| 2022 | -23.4% | -25.2% | 250.0% | 99.26% |
| 2021 | -3.0% | -3.0% | 157.9% | 100.00% |
| 2020 | 25.5% | -13.5% | 33.4% | 1.03% |
| 2019 | 15.3% | -1.5% | 34.3% | 96.48% |
NAV & Total Return History
BRSIX - Holdings
Concentration Analysis
| BRSIX | Category Low | Category High | BRSIX % Rank | |
|---|---|---|---|---|
| Net Assets | 172 M | 3.29 M | 63 B | 66.51% |
| Number of Holdings | 574 | 10 | 1599 | 7.18% |
| Net Assets in Top 10 | 24.5 M | 279 K | 3.62 B | 76.56% |
| Weighting of Top 10 | 13.97% | 5.2% | 92.1% | 73.86% |
Top 10 Holdings
- DREY INST PREF GOV MM-M 7.71%
- CommScope Holding Co Inc 1.70%
- Natural Gas Services Group Inc 0.63%
- AMREP Corp 0.61%
- Willis Lease Finance Corp 0.60%
- CorMedix Inc 0.57%
- Lifeway Foods Inc 0.55%
- Rayonier Advanced Materials Inc 0.54%
- Emergent BioSolutions Inc 0.53%
- Aquestive Therapeutics Inc 0.53%
Asset Allocation
| Weighting | Return Low | Return High | BRSIX % Rank | |
|---|---|---|---|---|
| Stocks | 99.49% | 6.25% | 105.88% | 24.64% |
| Cash | 7.89% | 0.00% | 37.64% | 9.81% |
| Preferred Stocks | 0.00% | 0.00% | 1.05% | 100.00% |
| Other | 0.00% | -1.07% | 38.91% | 94.50% |
| Convertible Bonds | 0.00% | 0.00% | 2.63% | 100.00% |
| Bonds | 0.00% | 0.00% | 90.12% | 100.00% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BRSIX % Rank | |
|---|---|---|---|---|
| Healthcare | 25.76% | 0.00% | 25.76% | 0.25% |
| Financial Services | 21.43% | 0.00% | 35.71% | 65.69% |
| Industrials | 12.32% | 0.65% | 48.61% | 92.40% |
| Energy | 10.04% | 0.00% | 29.42% | 27.70% |
| Consumer Cyclical | 8.70% | 0.35% | 51.62% | 79.17% |
| Technology | 7.58% | 0.00% | 27.23% | 66.67% |
| Consumer Defense | 4.77% | 0.00% | 13.22% | 34.07% |
| Communication Services | 3.40% | 0.00% | 17.58% | 28.68% |
| Basic Materials | 2.96% | 0.00% | 67.30% | 86.76% |
| Real Estate | 2.03% | 0.00% | 44.41% | 86.52% |
| Utilities | 0.99% | 0.00% | 13.86% | 74.75% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BRSIX % Rank | |
|---|---|---|---|---|
| US | 99.49% | 6.25% | 105.88% | 12.92% |
| Non US | 0.00% | 0.00% | 77.52% | 100.00% |
BRSIX - Expenses
Operational Fees
| BRSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.80% | 0.05% | 37.04% | 87.32% |
| Management Fee | 0.50% | 0.00% | 1.50% | 8.39% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.35% | N/A |
Sales Fees
| BRSIX 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
| BRSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | 2.00% | 0.50% | 2.00% | 37.04% |
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.
| BRSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 52.00% | 7.00% | 252.00% | 48.77% |
BRSIX - Distributions
Dividend Yield Analysis
| BRSIX | Category Low | Category High | BRSIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.64% | 0.00% | 14.14% | 74.40% |
Dividend Distribution Analysis
| BRSIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
| BRSIX | Category Low | Category High | BRSIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.83% | -1.43% | 4.13% | 24.51% |
Capital Gain Distribution Analysis
| BRSIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 11, 2024 | $0.080 | OrdinaryDividend |
| Dec 15, 2023 | $0.101 | OrdinaryDividend |
| Dec 15, 2022 | $0.217 | OrdinaryDividend |
| Dec 16, 2020 | $0.487 | OrdinaryDividend |
| Dec 17, 2019 | $0.151 | OrdinaryDividend |
| Dec 18, 2018 | $1.570 | CapitalGainLongTerm |
| Dec 18, 2018 | $0.076 | OrdinaryDividend |
| Dec 14, 2017 | $1.935 | CapitalGainLongTerm |
| Dec 14, 2017 | $0.020 | OrdinaryDividend |
| Dec 15, 2016 | $1.044 | CapitalGainLongTerm |
| Dec 15, 2016 | $0.149 | OrdinaryDividend |
| Dec 16, 2015 | $1.519 | CapitalGainLongTerm |
| Dec 16, 2015 | $0.128 | OrdinaryDividend |
| Dec 16, 2014 | $1.638 | CapitalGainLongTerm |
| Dec 16, 2014 | $0.143 | OrdinaryDividend |
| Dec 17, 2013 | $1.828 | CapitalGainLongTerm |
| Dec 21, 2012 | $2.537 | CapitalGainLongTerm |
| Dec 21, 2012 | $0.399 | OrdinaryDividend |
| Dec 15, 2011 | $0.564 | CapitalGainLongTerm |
| Dec 15, 2011 | $0.145 | OrdinaryDividend |
| Dec 14, 2010 | $0.147 | OrdinaryDividend |
| Dec 15, 2009 | $0.173 | OrdinaryDividend |
| Dec 16, 2008 | $0.894 | CapitalGainLongTerm |
| Dec 16, 2008 | $0.214 | OrdinaryDividend |
| Dec 18, 2007 | $0.647 | CapitalGainLongTerm |
| Dec 18, 2007 | $0.042 | OrdinaryDividend |
| Dec 14, 2006 | $0.375 | CapitalGainLongTerm |
| Dec 14, 2006 | $0.083 | OrdinaryDividend |
| Dec 15, 2005 | $0.532 | CapitalGainLongTerm |
| Dec 15, 2005 | $0.029 | OrdinaryDividend |
| Dec 28, 2004 | $0.148 | CapitalGainLongTerm |
| Dec 28, 2004 | $0.027 | OrdinaryDividend |
| Dec 30, 2003 | $0.043 | CapitalGainLongTerm |
| Dec 12, 2001 | $0.012 | OrdinaryDividend |
| Dec 15, 2000 | $0.043 | OrdinaryDividend |
BRSIX - Fund Manager Analysis
Managers
John Montgomery
Start Date
Tenure
Tenure Rank
Jul 31, 1997
24.85
24.9%
John, CIO and President,founded Bridgeway in 1993.He worked with computer modeling and quantitative methods as a research engineer at MIT in the late 1970s. Later, as a student at Harvard, he investigated methods to apply modeling to portfolio management. He began applying these methods to his investments in 1985. Over the next 6 years, this style proved more successful than even John had expected. He left his full-time position in the transportation industry at the end of 1991 to perform full-time research on his models, study the mutual fund industry, and write a business plan for Bridgeway.
Elena Khoziaeva
Start Date
Tenure
Tenure Rank
Oct 28, 2005
16.6
16.6%
Elena Khoziaeva, CFA, is a portfolio manager and began working at Bridgeway in 1998. Her responsibilities include portfolio management, investment research, and statistical modeling. Elena earned a Bachelor of Economic Sciences from Belarussian State Economic University in Minsk and graduated with highest honors from the University of Houston with an MBA in Accounting.
Michael Whipple
Start Date
Tenure
Tenure Rank
Oct 28, 2005
16.6
16.6%
Mike Whipple, CFA, FRM, is a portfolio manager and began working for Bridgeway in 2002. His responsibilities include portfolio management, investment research, and statistical modeling. He holds a BS in Accountancy and Finance from Miami University in Ohio. Michael worked in public accounting with a focus in auditing from 1993 to 2000 before attending the University of Chicago Booth School of Business from 2000 to 2002, where he earned his MBA.
Christine Wang
Start Date
Tenure
Tenure Rank
Oct 31, 2010
11.59
11.6%
Christine L. Wang, CFA, CPA is a portfolio manager and began working at Bridgeway in 2008. Her responsibilities include portfolio management, investment research, and statistical modeling. Christine holds a MS in Accounting from the University of Virginia and BA in Sociology and Managerial Studies from Rice University. Christine is a Certified Public Accountant licensed in the state of Texas. Prior to joining Bridgeway, Christine worked in public accounting with a focus on energy trading and risk management from 2004 to 2008.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 37.45 | 8.23 | 3.58 |
