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 12/09/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
1.6%
1 yr return
2.9%
3 Yr Avg Return
-1.8%
5 Yr Avg Return
-0.1%
Net Assets
$216 M
Holdings in Top 10
21.4%
Expense Ratio 0.63%
Front Load N/A
Deferred Load N/A
Turnover 23.00%
Redemption Fee N/A
Standard (Taxable)
$2,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 12/09/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Series invests primarily in municipal bonds and other securities the income from which is exempt from federal income tax. The Series will, under normal circumstances, invest at least 80% of its assets in securities the income from which is exempt from federal income tax, including the alternative minimum tax (AMT). The main issuers of these securities are state and local agencies. In selecting investments for the Series, the Advisor attempts to balance the Series’ goals of high income and capital preservation. With this approach, the Advisor attempts to build a portfolio that it believes provides the opportunity to earn current income; however, the Advisor will only purchase investment grade securities, or those securities determined by the Advisor to be of equivalent quality, and will maintain other selection criteria in an attempt to avoid permanent capital loss.
Bond Selection Process — The Advisor emphasizes those bond market sectors and selects for the Series those securities that it believes offer yields sufficient to compensate the investor for the risks specific to the security or sector. In analyzing the relative attractiveness of sectors and individual securities, the Advisor considers:
•The interest rate sensitivity of each security.
•The narrowing or widening of interest rate spreads between sectors, securities of different credit quality or securities of different maturities.
Maturity and Portfolio Duration — The Series is not subject to any maturity or duration restrictions but will vary its average dollar weighted portfolio maturity and duration depending on the Advisor’s outlook for yields. For example, the Advisor may invest in longer-term bonds when it expects yields to fall in order to realize gains for the Series. Likewise, the Advisor may invest in shorter-term bonds when it expects yields to rise. Duration is a measure of the expected life of a fixed income security that is used to determine the sensitivity of a security’s price to changes in yields. The prices of fixed income securities with shorter durations generally will be less affected by changes in yields than the prices of fixed income securities with longer durations. For example, a 10 year duration means the fixed income security will decrease in value by 10% if yields rise 1% and increase in value by 10% if yields fall 1%.
Credit Quality — The Series’ investments will be limited to investment grade securities, those rated BBB- or above by S&P or Baa3 or above by Moody’s or determined by the Advisor to be of equivalent quality. If a security purchased by the Series is downgraded below investment grade after purchase, the Advisor will review the security to determine if it remains an appropriate investment.
The Series may invest in taxable investments, including obligations of the U.S. Government, its agencies or instrumentalities. The Series may also invest in money market instruments or hold its assets in cash. These investments may cause the Series to make a taxable distribution to shareholders.
The Advisor will consider selling a security for one or more of the following reasons:
•to adjust the Series’ duration and/or yield curve positioning;
•there is a deterioration in the credit quality of the issuer;
•the security’s relative value has declined (the spread has tightened such that the security is no longer considered attractively priced); or
•a more attractive investment opportunity is identified.
Period | EXDVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.6% | -4.4% | 40.7% | 93.22% |
1 Yr | 2.9% | -2.6% | 45.9% | 92.34% |
3 Yr | -1.8%* | -10.2% | 6.4% | 93.44% |
5 Yr | -0.1%* | -6.5% | 1105.2% | 91.80% |
10 Yr | 0.8%* | -0.9% | 249.0% | 91.77% |
* Annualized
Period | EXDVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 2.3% | -1.4% | 41.0% | 64.44% |
2022 | -6.4% | -39.7% | 0.3% | 13.79% |
2021 | -5.5% | -5.6% | 6.9% | 99.93% |
2020 | 3.9% | -2.6% | 310.0% | 2.66% |
2019 | 2.2% | 0.0% | 26.0% | 86.83% |
Period | EXDVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 1.6% | -4.4% | 40.7% | 93.22% |
1 Yr | 2.9% | -2.6% | 45.9% | 92.34% |
3 Yr | -1.8%* | -10.2% | 6.4% | 93.44% |
5 Yr | -0.1%* | -6.5% | 1105.2% | 91.80% |
10 Yr | 0.8%* | -0.9% | 249.0% | 91.77% |
* Annualized
Period | EXDVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.1% | -1.3% | 41.0% | 82.90% |
2022 | -5.8% | -39.7% | 1.1% | 17.82% |
2021 | -4.8% | -4.8% | 23761504.0% | 100.00% |
2020 | 5.7% | -1.5% | 17057.9% | 8.12% |
2019 | 4.0% | 0.2% | 3514.6% | 87.33% |
EXDVX | Category Low | Category High | EXDVX % Rank | |
---|---|---|---|---|
Net Assets | 216 M | 3.22 M | 71.9 B | 69.96% |
Number of Holdings | 145 | 4 | 13418 | 73.34% |
Net Assets in Top 10 | 51.7 M | -317 M | 3.09 B | 65.82% |
Weighting of Top 10 | 21.40% | 1.8% | 100.3% | 34.34% |
Weighting | Return Low | Return High | EXDVX % Rank | |
---|---|---|---|---|
Bonds | 94.98% | 0.00% | 150.86% | 88.79% |
Stocks | 2.80% | 0.00% | 99.78% | 2.95% |
Cash | 2.23% | -50.86% | 44.62% | 29.08% |
Preferred Stocks | 0.00% | 0.00% | 0.07% | 5.57% |
Other | 0.00% | -3.69% | 53.54% | 17.73% |
Convertible Bonds | 0.00% | 0.00% | 0.93% | 4.86% |
Weighting | Return Low | Return High | EXDVX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 0.00% | N/A |
Technology | 0.00% | 0.00% | 0.00% | N/A |
Real Estate | 0.00% | 0.00% | 0.00% | N/A |
Industrials | 0.00% | 0.00% | 100.00% | N/A |
Healthcare | 0.00% | 0.00% | 0.00% | N/A |
Financial Services | 0.00% | 0.00% | 0.00% | N/A |
Energy | 0.00% | 0.00% | 0.00% | N/A |
Communication Services | 0.00% | 0.00% | 100.00% | N/A |
Consumer Defense | 0.00% | 0.00% | 0.00% | N/A |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | N/A |
Basic Materials | 0.00% | 0.00% | 0.00% | N/A |
Weighting | Return Low | Return High | EXDVX % Rank | |
---|---|---|---|---|
US | 2.80% | 0.00% | 99.78% | 2.96% |
Non US | 0.00% | 0.00% | 10.22% | 4.77% |
Weighting | Return Low | Return High | EXDVX % Rank | |
---|---|---|---|---|
Municipal | 86.60% | 44.39% | 100.00% | 97.24% |
Cash & Equivalents | 1.16% | 0.00% | 44.41% | 31.50% |
Derivative | 0.00% | -3.69% | 53.54% | 14.64% |
Securitized | 0.00% | 0.00% | 5.93% | 5.87% |
Corporate | 0.00% | 0.00% | 9.41% | 21.98% |
Government | 0.00% | 0.00% | 52.02% | 11.94% |
Weighting | Return Low | Return High | EXDVX % Rank | |
---|---|---|---|---|
US | 94.98% | 0.00% | 142.23% | 86.97% |
Non US | 0.00% | 0.00% | 23.89% | 9.40% |
EXDVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.63% | 0.01% | 8.02% | 62.70% |
Management Fee | 0.50% | 0.00% | 1.20% | 79.06% |
12b-1 Fee | N/A | 0.00% | 1.00% | 2.40% |
Administrative Fee | N/A | 0.01% | 0.44% | N/A |
EXDVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.50% | 4.75% | N/A |
Deferred Load | N/A | 0.25% | 5.00% | N/A |
EXDVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 1.00% | 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.
EXDVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 23.00% | 0.00% | 283.00% | 66.54% |
EXDVX | Category Low | Category High | EXDVX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.06% | 0.00% | 14.51% | 90.94% |
EXDVX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
EXDVX | Category Low | Category High | EXDVX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.91% | -0.53% | 5.33% | 89.19% |
EXDVX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Nov 13, 2024 | $0.018 | OrdinaryDividend |
Oct 10, 2024 | $0.016 | OrdinaryDividend |
Sep 12, 2024 | $0.016 | OrdinaryDividend |
Aug 15, 2024 | $0.019 | OrdinaryDividend |
Apr 11, 2024 | $0.016 | OrdinaryDividend |
Mar 13, 2024 | $0.015 | OrdinaryDividend |
Jan 11, 2024 | $0.004 | OrdinaryDividend |
Dec 13, 2023 | $0.028 | OrdinaryDividend |
Nov 10, 2023 | $0.014 | OrdinaryDividend |
Oct 12, 2023 | $0.015 | OrdinaryDividend |
Sep 13, 2023 | $0.015 | OrdinaryDividend |
Aug 11, 2023 | $0.014 | OrdinaryDividend |
Jul 13, 2023 | $0.016 | OrdinaryDividend |
Jun 13, 2023 | $0.015 | OrdinaryDividend |
May 11, 2023 | $0.014 | OrdinaryDividend |
Apr 13, 2023 | $0.016 | OrdinaryDividend |
Mar 13, 2023 | $0.014 | OrdinaryDividend |
Feb 13, 2023 | $0.011 | OrdinaryDividend |
Jan 12, 2023 | $0.003 | OrdinaryDividend |
Dec 13, 2022 | $0.014 | OrdinaryDividend |
Sep 13, 2022 | $0.026 | OrdinaryDividend |
Jun 14, 2022 | $0.014 | OrdinaryDividend |
Mar 15, 2022 | $0.008 | OrdinaryDividend |
Dec 14, 2021 | $0.004 | OrdinaryDividend |
Sep 14, 2021 | $0.028 | OrdinaryDividend |
Jun 15, 2021 | $0.029 | OrdinaryDividend |
Mar 16, 2021 | $0.026 | OrdinaryDividend |
Dec 15, 2020 | $0.109 | OrdinaryDividend |
Sep 15, 2020 | $0.035 | OrdinaryDividend |
Jun 15, 2020 | $0.025 | OrdinaryDividend |
Mar 16, 2020 | $0.026 | OrdinaryDividend |
Dec 16, 2019 | $0.002 | OrdinaryDividend |
Dec 16, 2019 | $0.048 | CapitalGainShortTerm |
Dec 16, 2019 | $0.067 | CapitalGainLongTerm |
Sep 16, 2019 | $0.001 | OrdinaryDividend |
Jun 17, 2019 | $0.043 | OrdinaryDividend |
Mar 15, 2019 | $0.034 | OrdinaryDividend |
Dec 17, 2018 | $0.045 | OrdinaryDividend |
Sep 17, 2018 | $0.040 | OrdinaryDividend |
Jun 15, 2018 | $0.035 | OrdinaryDividend |
Mar 15, 2018 | $0.030 | OrdinaryDividend |
Dec 15, 2017 | $0.040 | OrdinaryDividend |
Sep 15, 2017 | $0.035 | OrdinaryDividend |
Jun 15, 2017 | $0.035 | OrdinaryDividend |
Mar 15, 2017 | $0.027 | OrdinaryDividend |
Dec 15, 2016 | $0.040 | OrdinaryDividend |
Sep 15, 2016 | $0.030 | OrdinaryDividend |
Jun 15, 2016 | $0.025 | OrdinaryDividend |
Mar 15, 2016 | $0.025 | OrdinaryDividend |
Dec 15, 2015 | $0.030 | OrdinaryDividend |
Sep 15, 2015 | $0.025 | OrdinaryDividend |
Jun 15, 2015 | $0.020 | OrdinaryDividend |
Mar 16, 2015 | $0.020 | OrdinaryDividend |
Dec 15, 2014 | $0.020 | OrdinaryDividend |
Sep 15, 2014 | $0.025 | OrdinaryDividend |
Jun 16, 2014 | $0.010 | OrdinaryDividend |
Mar 17, 2014 | $0.020 | OrdinaryDividend |
Dec 16, 2013 | $0.030 | OrdinaryDividend |
Dec 16, 2013 | $0.173 | CapitalGainLongTerm |
Sep 16, 2013 | $0.030 | OrdinaryDividend |
Sep 16, 2013 | $0.004 | CapitalGainShortTerm |
Sep 16, 2013 | $0.028 | CapitalGainLongTerm |
Jun 17, 2013 | $0.030 | OrdinaryDividend |
Mar 15, 2013 | $0.040 | OrdinaryDividend |
Dec 17, 2012 | $0.080 | OrdinaryDividend |
Dec 17, 2012 | $0.002 | CapitalGainShortTerm |
Dec 17, 2012 | $0.026 | CapitalGainLongTerm |
Sep 17, 2012 | $0.040 | OrdinaryDividend |
Sep 17, 2012 | $0.000 | CapitalGainLongTerm |
Jun 15, 2012 | $0.040 | OrdinaryDividend |
Mar 15, 2012 | $0.040 | OrdinaryDividend |
Dec 15, 2011 | $0.072 | OrdinaryDividend |
Dec 15, 2011 | $0.078 | CapitalGainLongTerm |
Sep 15, 2011 | $0.070 | OrdinaryDividend |
Jun 15, 2011 | $0.070 | OrdinaryDividend |
Mar 15, 2011 | $0.080 | OrdinaryDividend |
Dec 15, 2010 | $0.130 | OrdinaryDividend |
Dec 15, 2010 | $0.002 | CapitalGainLongTerm |
Sep 15, 2010 | $0.100 | OrdinaryDividend |
Sep 15, 2010 | $0.000 | CapitalGainLongTerm |
Jun 15, 2010 | $0.110 | OrdinaryDividend |
Mar 15, 2010 | $0.110 | OrdinaryDividend |
Dec 15, 2009 | $0.062 | OrdinaryDividend |
Sep 15, 2009 | $0.120 | OrdinaryDividend |
Sep 15, 2009 | $0.015 | CapitalGainLongTerm |
Jun 15, 2009 | $0.130 | OrdinaryDividend |
Mar 16, 2009 | $0.130 | OrdinaryDividend |
Dec 15, 2008 | $0.090 | OrdinaryDividend |
Dec 15, 2008 | $0.002 | ExtraDividend |
Dec 15, 2008 | $0.001 | CapitalGainShortTerm |
Dec 15, 2008 | $0.017 | CapitalGainLongTerm |
Sep 15, 2008 | $0.090 | OrdinaryDividend |
Sep 15, 2008 | $0.001 | CapitalGainLongTerm |
Jun 16, 2008 | $0.090 | OrdinaryDividend |
Mar 17, 2008 | $0.090 | OrdinaryDividend |
Dec 17, 2007 | $0.095 | OrdinaryDividend |
Dec 17, 2007 | $0.005 | ExtraDividend |
Dec 17, 2007 | $0.003 | CapitalGainLongTerm |
Sep 17, 2007 | $0.090 | OrdinaryDividend |
Jun 15, 2007 | $0.090 | OrdinaryDividend |
Mar 15, 2007 | $0.090 | OrdinaryDividend |
Dec 15, 2006 | $0.009 | OrdinaryDividend |
Dec 15, 2006 | $0.001 | CapitalGainLongTerm |
Start Date
Tenure
Tenure Rank
Apr 07, 2015
7.15
7.2%
Elizaveta Akselrod is a Senior Analyst for the Fixed Income Group at Manning & Napier. She is the firm’s principal municipal bond specialist, with responsibility for municipal bond credit research. Additionally, Elizaveta oversees the firm’s tax-exempt portfolios and the firms’ separately managed municipal bond accounts. Elizaveta has been with Manning & Napier since 2006. Prior to joining the firm, she worked at Bear Stearns & Co. as a Trading Floor Sales Assistant, supporting traders, salespersons, and analysts as well as booking and reviewing trades. Elizaveta earned her BA in Economics from Binghamton University and an MBA in Finance from Rochester Institute of Technology.
Start Date
Tenure
Tenure Rank
Apr 07, 2015
7.15
7.2%
Marc Bushallow is the Managing Director of Fixed Income at Manning & Napier. Prior to becoming Managing Director, Marc was a Senior Analyst in the Fixed Income Group, concentrating on analysis of below investment-grade corporate bonds. He also spent some time at the firm as an Assistant performing quantitative and macroeconomic research. Today, Marc works on economic overviews and the top-down positioning of the firm's fixed income portfolios. He oversees the firm's high-yield, nontraditional, and core fixed income strategies, and is also a member of the firm's Investment Policy Group. Marc joined Manning & Napier in 1999 and left to pursue a master's degree in 2002, returning to the firm in 2008. Before returning to Manning & Napier, Marc spent four years at Barclays Capital, gaining sell-side experience requiring the evaluation and recommendation of high-yield credit, including both cash and derivative products. He acquired and applied detailed understanding of new issue syndication, trading, bond structure and covenants, etc. During that time, Marc and his team were two-time runners-up in the Institutional Investor All-Europe Fixed-Income Research Team poll for High-Yield Consumer Products. Marc earned his BA in Economics from the State University of New York at Geneseo and his MSc in Economics from the London School of Economics & Political Science. He is also a CFA charterholder.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 35.05 | 7.36 | 1.58 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...