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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 11/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
32.6%
1 yr return
34.8%
3 Yr Avg Return
21.4%
5 Yr Avg Return
14.1%
Net Assets
$943 M
Holdings in Top 10
66.7%
Expense Ratio 1.24%
Front Load N/A
Deferred Load N/A
Turnover 28.00%
Redemption Fee N/A
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 11/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund, under normal market conditions, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in a portfolio of master limited partnerships (“MLPs”) and MLP-related investments (together, “MLP Investments”). The Fund’s MLP Investments may include, but are not limited to, investments that offer economic exposure to MLPs in the form of common or subordinated units issued by MLPs, securities of entities holding primarily general partner or managing member interests in MLPs, debt securities of MLPs, securities that are
derivatives of interests in MLPs, including indirect ownership interests in an MLP issued by an MLP affiliate (“I-Shares”) and businesses that operate like MLP Investments and have the economic characteristics of MLP Investments but are organized and taxed as “C”corporations or as limited liability companies. The Fund is non-diversified, which means it may invest a greater percentage of its assets in a limited number of issuers than a diversified fund, and it may invest in companies of any market capitalization size.
The Fund focuses primarily on midstream MLP Investments (“Midstream MLPs”) whose business models are often referred to as “toll road” businesses. Midstream MLPs collect, gather, transport and store natural resources and their byproducts (primarily crude oil, natural gas and refined petroleum products), generally without taking ownership of the physical commodity. Midstream MLPs may also operate ancillary businesses including the marketing of the products and logistical services. The Fund may also invest in MLPs involved in other segments of the natural resources sector, including propane, coal and shipping MLPs, as well as upstream MLPs focused on exploration and production of natural resources.
Cushing® Asset Management, LP, the Fund’s Subadvisor, seeks MLP Investments that have distributions that, in the Subadvisor’s view, are attractive relative to comparable MLP Investments and available unit pricing. The Subadvisor also focuses on MLP Investments with operations in the development, production, processing, refining, transportation, storage and marketing of natural resources. Among other things, the Subadvisor uses fundamental, proprietary research to seek to identify the most attractive MLP Investments with favorable distribution yields and distribution growth prospects. Distributions made by the Fund to shareholders may be considered dividend income, non-taxable returns of capital, capital gain or a combination thereof.
MLPs are generally treated as partnerships for U.S. federal income tax purposes and are generally organized under state law as limited partnerships or limited liability companies. To be treated as a partnership for U.S. federal income tax purposes, an MLP must derive at least 90% of its gross income for each taxable year from qualifying sources, including natural resources-based activities such as the exploration, development, mining, production, processing, refining, transportation, storage and certain marketing of mineral or natural resources. Currently, most MLPs operate in the natural resources, shipping or real estate sectors. Therefore, the Fund will, in normal circumstances, invest more than 25% of its assets (or concentrate its investments) in the natural resources industry, including MLPs operating in such industry.
The Fund may also invest in foreign securities, including among other things, Canadian royalty trusts and Canadian exploration and production companies. A Canadian royalty trust is an oil, gas or mineral company that is organized as a trust rather than as a traditional corporation and holds commodity producing properties. Canadian exploration and production companies are energy companies which focus on searching for and extracting oil and gas. An issuer of a security is considered to be a U.S. or foreign issuer based on the issuer's "country of risk" (or similar designation) as determined by a third party such as Bloomberg.
Period | CSHZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 32.6% | 9.5% | 35.6% | 26.00% |
1 Yr | 34.8% | 11.7% | 36.6% | 25.00% |
3 Yr | 21.4%* | 1.3% | 30.8% | 29.17% |
5 Yr | 14.1%* | -3.2% | 35.5% | 51.58% |
10 Yr | 3.1%* | -5.8% | 11.4% | 45.90% |
* Annualized
Period | CSHZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 5.9% | -14.9% | 18.2% | 68.63% |
2022 | 13.8% | -7.0% | 29.9% | 57.14% |
2021 | 23.2% | 4.2% | 42.7% | 81.63% |
2020 | -37.8% | -57.4% | 155.1% | 72.16% |
2019 | 3.3% | -8.9% | 18.9% | 48.28% |
Period | CSHZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 32.6% | 9.5% | 35.6% | 26.00% |
1 Yr | 34.8% | 11.7% | 36.6% | 25.00% |
3 Yr | 21.4%* | 1.3% | 30.8% | 29.17% |
5 Yr | 14.1%* | -3.2% | 35.5% | 51.58% |
10 Yr | 3.1%* | -5.8% | 11.4% | 45.90% |
* Annualized
Period | CSHZX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 15.3% | -9.3% | 25.5% | 47.06% |
2022 | 24.2% | -1.2% | 38.8% | 45.92% |
2021 | 38.9% | 14.5% | 56.2% | 59.18% |
2020 | -28.1% | -53.9% | 155.1% | 59.79% |
2019 | 13.7% | -3.4% | 22.4% | 37.93% |
CSHZX | Category Low | Category High | CSHZX % Rank | |
---|---|---|---|---|
Net Assets | 943 M | 22 M | 53.1 B | 34.26% |
Number of Holdings | 25 | 17 | 89 | 64.71% |
Net Assets in Top 10 | 629 M | 23.7 M | 3.63 B | 38.24% |
Weighting of Top 10 | 66.72% | 39.1% | 116.1% | 51.96% |
Weighting | Return Low | Return High | CSHZX % Rank | |
---|---|---|---|---|
Stocks | 68.61% | 53.33% | 136.34% | 96.08% |
Cash | 1.66% | 0.00% | 13.09% | 41.18% |
Preferred Stocks | 0.00% | 0.00% | 2.23% | 34.31% |
Other | 0.00% | -36.30% | 5.12% | 31.37% |
Convertible Bonds | 0.00% | 0.00% | 5.29% | 29.41% |
Bonds | 0.00% | 0.00% | 40.73% | 31.37% |
Weighting | Return Low | Return High | CSHZX % Rank | |
---|---|---|---|---|
Energy | 94.44% | 53.73% | 100.00% | 63.73% |
Utilities | 5.56% | 0.00% | 41.78% | 21.57% |
Technology | 0.00% | 0.00% | 2.43% | 49.02% |
Real Estate | 0.00% | 0.00% | 0.00% | 28.43% |
Industrials | 0.00% | 0.00% | 4.54% | 49.02% |
Healthcare | 0.00% | 0.00% | 0.00% | 28.43% |
Financial Services | 0.00% | 0.00% | 0.66% | 30.39% |
Communication Services | 0.00% | 0.00% | 0.00% | 28.43% |
Consumer Defense | 0.00% | 0.00% | 0.82% | 29.41% |
Consumer Cyclical | 0.00% | 0.00% | 1.07% | 37.25% |
Basic Materials | 0.00% | 0.00% | 6.40% | 64.71% |
Weighting | Return Low | Return High | CSHZX % Rank | |
---|---|---|---|---|
US | 66.75% | 48.92% | 136.34% | 91.18% |
Non US | 1.86% | 0.00% | 39.30% | 50.98% |
CSHZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.24% | 0.35% | 8.81% | 82.18% |
Management Fee | 1.10% | 0.35% | 1.38% | 75.00% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.04% | 0.15% | N/A |
CSHZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 4.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.00% | N/A |
CSHZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | N/A | N/A | 7.69% |
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.
CSHZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 28.00% | 6.00% | 166.00% | 31.25% |
CSHZX | Category Low | Category High | CSHZX % Rank | |
---|---|---|---|---|
Dividend Yield | 6.59% | 0.00% | 15.34% | 20.37% |
CSHZX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Quarterly |
CSHZX | Category Low | Category High | CSHZX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.72% | -2.83% | 5.84% | 33.66% |
CSHZX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Sep 30, 2024 | $0.063 | OrdinaryDividend |
Aug 30, 2024 | $0.063 | OrdinaryDividend |
Jul 31, 2024 | $0.063 | OrdinaryDividend |
Apr 30, 2024 | $0.063 | OrdinaryDividend |
Mar 28, 2024 | $0.063 | OrdinaryDividend |
Feb 29, 2024 | $0.063 | OrdinaryDividend |
Jan 31, 2024 | $0.063 | OrdinaryDividend |
Dec 28, 2023 | $0.063 | OrdinaryDividend |
Nov 30, 2023 | $0.063 | OrdinaryDividend |
Oct 31, 2023 | $0.063 | OrdinaryDividend |
Sep 29, 2023 | $0.063 | OrdinaryDividend |
Aug 31, 2023 | $0.063 | OrdinaryDividend |
Jul 31, 2023 | $0.063 | OrdinaryDividend |
Jun 30, 2023 | $0.063 | OrdinaryDividend |
May 31, 2023 | $0.063 | OrdinaryDividend |
Apr 28, 2023 | $0.063 | OrdinaryDividend |
Mar 31, 2023 | $0.063 | OrdinaryDividend |
Feb 28, 2023 | $0.063 | OrdinaryDividend |
Jan 31, 2023 | $0.063 | OrdinaryDividend |
Dec 29, 2022 | $0.063 | OrdinaryDividend |
Nov 30, 2022 | $0.063 | OrdinaryDividend |
Oct 31, 2022 | $0.063 | OrdinaryDividend |
Sep 30, 2022 | $0.063 | OrdinaryDividend |
Aug 31, 2022 | $0.063 | OrdinaryDividend |
Jul 29, 2022 | $0.063 | OrdinaryDividend |
Jun 30, 2022 | $0.063 | OrdinaryDividend |
May 31, 2022 | $0.063 | OrdinaryDividend |
Apr 29, 2022 | $0.063 | OrdinaryDividend |
Mar 31, 2022 | $0.063 | OrdinaryDividend |
Feb 28, 2022 | $0.063 | OrdinaryDividend |
Jan 31, 2022 | $0.075 | OrdinaryDividend |
Dec 30, 2021 | $0.075 | OrdinaryDividend |
Nov 30, 2021 | $0.075 | OrdinaryDividend |
Oct 29, 2021 | $0.075 | OrdinaryDividend |
Sep 30, 2021 | $0.075 | OrdinaryDividend |
Aug 31, 2021 | $0.075 | OrdinaryDividend |
Jul 30, 2021 | $0.075 | OrdinaryDividend |
Jun 30, 2021 | $0.075 | OrdinaryDividend |
May 28, 2021 | $0.075 | OrdinaryDividend |
Apr 30, 2021 | $0.075 | OrdinaryDividend |
Mar 31, 2021 | $0.075 | OrdinaryDividend |
Feb 26, 2021 | $0.075 | OrdinaryDividend |
Jan 29, 2021 | $0.075 | OrdinaryDividend |
Dec 30, 2020 | $0.075 | OrdinaryDividend |
Nov 30, 2020 | $0.075 | ReturnOfCapital |
Oct 30, 2020 | $0.075 | ReturnOfCapital |
Sep 30, 2020 | $0.075 | ReturnOfCapital |
Aug 31, 2020 | $0.075 | ReturnOfCapital |
Jul 31, 2020 | $0.075 | ReturnOfCapital |
Jun 30, 2020 | $0.075 | ReturnOfCapital |
May 29, 2020 | $0.075 | ReturnOfCapital |
Apr 30, 2020 | $0.075 | ReturnOfCapital |
Mar 31, 2020 | $0.075 | ReturnOfCapital |
Feb 28, 2020 | $0.075 | ReturnOfCapital |
Jan 31, 2020 | $0.075 | ReturnOfCapital |
Dec 30, 2019 | $0.075 | OrdinaryDividend |
Nov 29, 2019 | $0.075 | OrdinaryDividend |
Oct 31, 2019 | $0.075 | OrdinaryDividend |
Sep 30, 2019 | $0.075 | OrdinaryDividend |
Aug 30, 2019 | $0.075 | OrdinaryDividend |
Jul 31, 2019 | $0.075 | OrdinaryDividend |
Jun 28, 2019 | $0.075 | OrdinaryDividend |
May 31, 2019 | $0.075 | OrdinaryDividend |
Apr 30, 2019 | $0.075 | OrdinaryDividend |
Mar 29, 2019 | $0.075 | OrdinaryDividend |
Feb 28, 2019 | $0.075 | OrdinaryDividend |
Jan 31, 2019 | $0.075 | OrdinaryDividend |
Dec 31, 2018 | $0.112 | OrdinaryDividend |
Nov 30, 2018 | $0.112 | OrdinaryDividend |
Oct 31, 2018 | $0.112 | OrdinaryDividend |
Sep 28, 2018 | $0.112 | OrdinaryDividend |
Aug 31, 2018 | $0.112 | OrdinaryDividend |
Jul 31, 2018 | $0.112 | OrdinaryDividend |
Jun 29, 2018 | $0.112 | OrdinaryDividend |
May 31, 2018 | $0.112 | OrdinaryDividend |
Apr 30, 2018 | $0.112 | OrdinaryDividend |
Mar 29, 2018 | $0.112 | OrdinaryDividend |
Feb 28, 2018 | $0.112 | OrdinaryDividend |
Jan 31, 2018 | $0.112 | OrdinaryDividend |
Dec 28, 2017 | $0.112 | OrdinaryDividend |
Nov 30, 2017 | $0.112 | OrdinaryDividend |
Oct 31, 2017 | $0.112 | OrdinaryDividend |
Sep 29, 2017 | $0.112 | OrdinaryDividend |
Aug 31, 2017 | $0.112 | OrdinaryDividend |
Jul 31, 2017 | $0.112 | OrdinaryDividend |
Jun 30, 2017 | $0.112 | OrdinaryDividend |
May 31, 2017 | $0.112 | OrdinaryDividend |
Apr 28, 2017 | $0.112 | OrdinaryDividend |
Mar 31, 2017 | $0.112 | OrdinaryDividend |
Feb 28, 2017 | $0.112 | OrdinaryDividend |
Jan 31, 2017 | $0.112 | OrdinaryDividend |
Dec 30, 2016 | $0.112 | OrdinaryDividend |
Nov 30, 2016 | $0.112 | OrdinaryDividend |
Oct 21, 2016 | $0.335 | OrdinaryDividend |
Jul 22, 2016 | $0.335 | OrdinaryDividend |
Apr 22, 2016 | $0.335 | OrdinaryDividend |
Jan 22, 2016 | $0.335 | OrdinaryDividend |
Oct 23, 2015 | $0.335 | OrdinaryDividend |
Jul 24, 2015 | $0.335 | OrdinaryDividend |
Apr 24, 2015 | $0.335 | OrdinaryDividend |
Jan 23, 2015 | $0.335 | OrdinaryDividend |
Oct 24, 2014 | $0.335 | OrdinaryDividend |
Jul 25, 2014 | $0.335 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Jan 06, 2020
2.4
2.4%
John Musgrave has worked as an investment analyst in the energy industry since 2004. Mr. Musgrave previously worked in Citigroup’s investment banking division where he focused on corporate finance and mergers & acquisitions in a wide range of industries, including energy MLPs. He also worked as an analyst for UBS Investment Bank’s Global Energy Group. Mr. Musgrave joined Cushing Asset Management in 2007, and his roles include research and portfolio management for the firm’s MLP-related funds. Mr. Musgrave received his B.B.A. in Finance from Texas A&M University.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 15.78 | 7.75 | 12.18 |
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