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Critical Facts You Need to Know About Preferred Stocks
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Balanced Fund
mutual fund
FOBPX
Payout Change
Pending
Price as of:
$19.7
+0.15
+0.77%
primary theme
U.S. Balanced Allocation
share class
FOBPX (Mutual Fund)
Balanced Fund
Payout Change
Pending
Price as of:
$19.7
+0.15
+0.77%
primary theme
U.S. Balanced Allocation
share class
FOBPX (Mutual Fund)
Balanced Fund
Payout Change
Pending
Price as of:
$19.7
+0.15
+0.77%
primary theme
U.S. Balanced Allocation
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
14.8%
1 yr return
15.2%
3 Yr Avg Return
5.3%
5 Yr Avg Return
8.7%
Net Assets
$82.3 M
Holdings in Top 10
32.6%
52 WEEK LOW AND HIGH
$19.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.07%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 23.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000,000
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
FOBPX - Profile
Distributions
- YTD Total Return 14.8%
- 3 Yr Annualized Total Return 5.3%
- 5 Yr Annualized Total Return 8.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.67%
- Dividend Yield 1.8%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameBalanced Fund
-
Fund Family NameTributary Funds
-
Inception DateOct 17, 2011
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRonald Horner
Fund Description
The Fund’s Sub-Adviser will allocate its assets among stocks, fixed income securities, and cash equivalents. The Fund will normally invest 25% to 75% of its assets in stocks and convertible securities and at least 25% of its total assets in fixed income securities. The Fund may also invest in preferred stocks and warrants. The Fund may invest in securities issued by companies with large, medium, or small capitalizations. The fixed income securities in which the Fund may invest include corporate bonds, foreign or Yankee bonds, municipal bonds, obligations issued or guaranteed by the U.S. government (or it agencies or instrumentalities), convertible securities, certain restricted securities, and in fixed income securities with variable or floating interest rates. The Fund may also enter into repurchase agreements.
With respect to the equity portion of the Fund, the Sub-Adviser intends to target companies with above average sales and earnings growth characteristics and below average valuations with a focus on investing in companies that have an improving profit outlook. The Sub-Adviser employs strategies to control the risks of the Fund’s equity holdings, including diversifying stockholdings across the major economic sectors and individual companies.
With respect to the fixed income portion of the Fund, the Sub-Adviser intends to invest primarily in fixed income securities rated, at the time of purchase, within the four highest credit categories (Aaa, Aa, A, Baa, or equivalent) by at least one nationally recognized statistical rating organization (“NRSRO”), or if unrated, deemed to be of comparable quality by the Fund’s Sub-Adviser. However, also with respect to the fixed income portion of the Fund, the Fund may invest up to 20% of that portion in fixed income securities rated below such ratings (“junk” or “high yield” bonds) but not lower than a B rating by
an NRSRO at the time of purchase. In addition, the sub-adviser seeks to maintain a dollar-weighted average maturity of three years or more for its fixed income allocation.
Under normal market conditions, the Fund will invest no more than 75% of its fixed income portion in asset-backed and/or mortgage-backed securities.
FOBPX - Performance
Return Ranking - Trailing
| Period | FOBPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.8% | -2.2% | 75.0% | 16.15% |
| 1 Yr | 15.2% | -1.7% | 72.9% | 21.15% |
| 3 Yr | 5.3%* | -4.9% | 22.8% | 13.21% |
| 5 Yr | 8.7%* | -4.0% | 22.0% | 11.49% |
| 10 Yr | 7.8%* | 0.7% | 13.9% | 15.69% |
* Annualized
Return Ranking - Calendar
| Period | FOBPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.9% | -12.2% | 23.9% | 45.28% |
| 2022 | -19.6% | -34.7% | 2.8% | 64.92% |
| 2021 | 7.2% | -11.9% | 18.1% | 38.49% |
| 2020 | 6.1% | -20.9% | 39.7% | 64.24% |
| 2019 | 16.1% | 0.8% | 25.7% | 26.67% |
Total Return Ranking - Trailing
| Period | FOBPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.8% | -2.2% | 75.0% | 16.15% |
| 1 Yr | 15.2% | -1.7% | 72.9% | 21.15% |
| 3 Yr | 5.3%* | -4.9% | 22.8% | 13.21% |
| 5 Yr | 8.7%* | -4.0% | 22.0% | 11.49% |
| 10 Yr | 7.8%* | 0.7% | 13.9% | 15.69% |
* Annualized
Total Return Ranking - Calendar
| Period | FOBPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 17.8% | -12.2% | 26.8% | 11.21% |
| 2022 | -14.9% | -29.0% | 10.9% | 50.22% |
| 2021 | 16.5% | -3.0% | 27.3% | 14.37% |
| 2020 | 12.8% | -19.5% | 40.6% | 49.51% |
| 2019 | 21.6% | 2.2% | 32.7% | 23.00% |
NAV & Total Return History
FOBPX - Holdings
Concentration Analysis
| FOBPX | Category Low | Category High | FOBPX % Rank | |
|---|---|---|---|---|
| Net Assets | 82.3 M | 861 K | 235 B | 87.55% |
| Number of Holdings | 211 | 2 | 16143 | 35.84% |
| Net Assets in Top 10 | 27.6 M | 859 K | 66.9 B | 87.46% |
| Weighting of Top 10 | 32.56% | 10.8% | 122.7% | 70.35% |
Top 10 Holdings
- Apple, Inc. 4.58%
- Microsoft Corp. 4.37%
- NVIDIA Corp. 4.05%
- U.S. Treasury Note/Bond 3.83%
- U.S. Treasury Note/Bond 3.65%
- U.S. Treasury Note 2.68%
- BlackRock Liquidity Funds T-Fund Portfolio, Institutional Shares 2.61%
- Alphabet, Inc. 2.52%
- Amazon.com, Inc. 2.41%
- Meta Platforms, Inc. 1.87%
Asset Allocation
| Weighting | Return Low | Return High | FOBPX % Rank | |
|---|---|---|---|---|
| Stocks | 62.24% | 0.00% | 100.10% | 66.81% |
| Bonds | 35.02% | 0.00% | 77.71% | 22.42% |
| Cash | 2.73% | -7.92% | 100.00% | 34.37% |
| Preferred Stocks | 0.00% | 0.00% | 24.59% | 77.58% |
| Other | 0.00% | -42.55% | 113.97% | 78.32% |
| Convertible Bonds | 0.00% | 0.00% | 23.84% | 96.29% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | FOBPX % Rank | |
|---|---|---|---|---|
| Technology | 23.78% | 0.00% | 44.21% | 15.80% |
| Healthcare | 14.25% | 0.00% | 29.35% | 41.88% |
| Financial Services | 12.55% | 0.00% | 38.77% | 76.30% |
| Consumer Cyclical | 11.04% | 0.00% | 19.36% | 30.10% |
| Communication Services | 9.42% | 0.00% | 38.10% | 11.03% |
| Industrials | 8.95% | 0.00% | 24.37% | 77.50% |
| Consumer Defense | 6.81% | 0.00% | 15.14% | 44.86% |
| Real Estate | 4.01% | 0.00% | 65.01% | 34.43% |
| Energy | 3.74% | 0.00% | 85.65% | 73.62% |
| Utilities | 3.42% | 0.00% | 99.55% | 31.15% |
| Basic Materials | 2.03% | 0.00% | 25.57% | 84.65% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | FOBPX % Rank | |
|---|---|---|---|---|
| US | 62.24% | 0.00% | 100.10% | 63.13% |
| Non US | 0.00% | 0.00% | 42.80% | 77.29% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | FOBPX % Rank | |
|---|---|---|---|---|
| Government | 29.75% | 0.00% | 97.26% | 51.86% |
| Corporate | 29.67% | 0.00% | 98.21% | 54.83% |
| Securitized | 24.22% | 0.00% | 92.13% | 30.46% |
| Cash & Equivalents | 2.61% | 0.00% | 99.92% | 34.81% |
| Municipal | 1.68% | 0.00% | 24.80% | 9.21% |
| Derivative | 0.00% | -4.58% | 41.29% | 67.26% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | FOBPX % Rank | |
|---|---|---|---|---|
| US | 35.02% | 0.00% | 77.71% | 21.09% |
| Non US | 0.00% | 0.00% | 15.37% | 73.60% |
FOBPX - Expenses
Operational Fees
| FOBPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.07% | 0.03% | 27.98% | 44.28% |
| Management Fee | 0.75% | 0.00% | 1.83% | 88.43% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.25% | 0.01% | 0.83% | 94.02% |
Sales Fees
| FOBPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| FOBPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.00% | 2.00% | 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.
| FOBPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 23.00% | 0.83% | 343.00% | 31.70% |
FOBPX - Distributions
Dividend Yield Analysis
| FOBPX | Category Low | Category High | FOBPX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.82% | 0.00% | 17.90% | 5.86% |
Dividend Distribution Analysis
| FOBPX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| FOBPX | Category Low | Category High | FOBPX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.67% | -2.34% | 13.92% | 75.08% |
Capital Gain Distribution Analysis
| FOBPX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Monthly | Semi-Monthly |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 12, 2024 | $0.089 | OrdinaryDividend |
| Dec 12, 2024 | $0.061 | CapitalGainShortTerm |
| Dec 12, 2024 | $0.690 | CapitalGainLongTerm |
| Sep 19, 2024 | $0.076 | OrdinaryDividend |
| Mar 21, 2024 | $0.067 | OrdinaryDividend |
| Dec 14, 2023 | $0.835 | CapitalGainLongTerm |
| Sep 21, 2023 | $0.068 | OrdinaryDividend |
| Jun 15, 2023 | $0.060 | OrdinaryDividend |
| Mar 16, 2023 | $0.052 | OrdinaryDividend |
| Dec 15, 2022 | $0.850 | OrdinaryDividend |
| Sep 15, 2022 | $0.047 | OrdinaryDividend |
| Jun 16, 2022 | $0.042 | OrdinaryDividend |
| Mar 17, 2022 | $0.032 | OrdinaryDividend |
| Dec 16, 2021 | $1.606 | OrdinaryDividend |
| Sep 16, 2021 | $0.037 | OrdinaryDividend |
| Jun 17, 2021 | $0.040 | OrdinaryDividend |
| Mar 18, 2021 | $0.034 | OrdinaryDividend |
| Dec 10, 2020 | $1.014 | OrdinaryDividend |
| Sep 17, 2020 | $0.043 | OrdinaryDividend |
| Jun 18, 2020 | $0.051 | OrdinaryDividend |
| Mar 19, 2020 | $0.046 | OrdinaryDividend |
| Dec 12, 2019 | $0.056 | OrdinaryDividend |
| Dec 12, 2019 | $0.676 | CapitalGainLongTerm |
| Sep 19, 2019 | $0.054 | OrdinaryDividend |
| Mar 21, 2019 | $0.044 | OrdinaryDividend |
| Dec 13, 2018 | $0.059 | OrdinaryDividend |
| Dec 13, 2018 | $1.024 | CapitalGainLongTerm |
| Sep 20, 2018 | $0.046 | OrdinaryDividend |
| Jun 21, 2018 | $0.045 | OrdinaryDividend |
| Mar 22, 2018 | $0.036 | OrdinaryDividend |
| Dec 14, 2017 | $0.051 | OrdinaryDividend |
| Dec 14, 2017 | $1.272 | CapitalGainLongTerm |
| Sep 21, 2017 | $0.042 | OrdinaryDividend |
| Jun 22, 2017 | $0.051 | OrdinaryDividend |
| Mar 23, 2017 | $0.037 | OrdinaryDividend |
| Dec 15, 2016 | $0.053 | OrdinaryDividend |
| Dec 15, 2016 | $0.965 | CapitalGainLongTerm |
| Sep 22, 2016 | $0.040 | OrdinaryDividend |
| Jun 23, 2016 | $0.041 | OrdinaryDividend |
| Mar 24, 2016 | $0.032 | OrdinaryDividend |
| Dec 17, 2015 | $0.027 | OrdinaryDividend |
| Sep 24, 2015 | $0.017 | OrdinaryDividend |
| Jun 25, 2015 | $0.019 | OrdinaryDividend |
| Mar 16, 2015 | $0.030 | OrdinaryDividend |
| Dec 29, 2014 | $1.532 | CapitalGainLongTerm |
| Jun 26, 2014 | $0.013 | OrdinaryDividend |
| Mar 20, 2014 | $0.041 | OrdinaryDividend |
| Dec 27, 2013 | $1.241 | CapitalGainLongTerm |
| Sep 26, 2013 | $0.050 | OrdinaryDividend |
| Jun 20, 2013 | $0.043 | OrdinaryDividend |
| Mar 21, 2013 | $0.073 | OrdinaryDividend |
| Dec 27, 2012 | $0.053 | OrdinaryDividend |
| Sep 26, 2012 | $0.055 | OrdinaryDividend |
| Jun 20, 2012 | $0.039 | OrdinaryDividend |
| Mar 21, 2012 | $0.054 | OrdinaryDividend |
| Dec 28, 2011 | $0.030 | OrdinaryDividend |
FOBPX - Fund Manager Analysis
Managers
Ronald Horner
Start Date
Tenure
Tenure Rank
Oct 01, 2014
7.67
7.7%
Ronald Horner, Managing Director, Fixed Income. Ron joined First National in March 2006 as a Managing Director and Head of Fixed Income. In this capacity, Ron provides leadership and oversight for all of First National’s fixed income investment mandates. Ronald’s over 30 year career in investment management includes 18 years with Commercial Federal Bank serving as an Investment Portfolio Manager and Secondary Mortgage Marketing Manager. He received his B.S. from Creighton University and Masters of Business Administration from the University of Nebraska at Omaha.
Kurt Spieler
Start Date
Tenure
Tenure Rank
Oct 01, 2014
7.67
7.7%
Kurt Spieler, CFA, Senior Managing Director. Kurt joined First National in 2005 and has over 30 years of experience including the portfolio management of mutual funds in emerging markets, core international and U.S. moderate allocation. Previously, he was head of international equities for Principal Global Investors, as well as president of his own asset management firm. Kurt graduated from Iowa State University and chose to obtain his MBA from Drake University. Kurt is a member of the CFA Institute and the CFA Society of Colorado.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 34.51 | 6.39 | 2.41 |
