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Nationwide BNY Mellon Dynamic U.S. Equity Income Fund
mutual fund
NWAPX
Payout Change
Pending
Price as of:
$39.77
-0.31
-0.77%
primary theme
U.S. Large-Cap Value Equity
share class
NWAPX (Mutual Fund)
Nationwide BNY Mellon Dynamic U.S. Equity Income Fund
Payout Change
Pending
Price as of:
$39.77
-0.31
-0.77%
primary theme
U.S. Large-Cap Value Equity
share class
NWAPX (Mutual Fund)
Nationwide BNY Mellon Dynamic U.S. Equity Income Fund
Payout Change
Pending
Price as of:
$39.77
-0.31
-0.77%
primary theme
U.S. Large-Cap Value Equity
share class
Name
As of 12/10/2024Price
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
19.9%
1 yr return
20.2%
3 Yr Avg Return
9.0%
5 Yr Avg Return
N/A
Net Assets
$579 M
Holdings in Top 10
28.1%
52 WEEK LOW AND HIGH
$40.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.80%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$50,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
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
NWAPX - Profile
Distributions
- YTD Total Return 19.9%
- 3 Yr Annualized Total Return 9.0%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.24%
- Dividend Yield 1.6%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameNationwide BNY Mellon Dynamic U.S. Equity Income Fund
-
Fund Family NameNationwide Mutual Funds
-
Inception DateJan 08, 2020
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Bailer
Fund Description
The Fund seeks to provide investors with total return, consisting of capital appreciation and/or income, by outperforming the Russell 1000® Value Index over a full market cycle while maintaining a similar level of market risk as the index. To achieve this goal, the Fund’s subadviser seeks to identify and construct the most optimal portfolio that targets an equity-like level of volatility by allocating assets among equity securities, money market instruments, futures contracts the value of which are derived from the performance of equity indexes and U.S. Treasury bonds (which are government-issued fixed income securities), and options on equity index and U.S. Treasury bond futures. Futures and options are derivatives and expose the Fund to leverage. In addition, the Fund may write (sell) covered call options to enhance returns and/or to limit volatility. Investors in the Fund should have a long-term perspective and be able to tolerate potentially sharp declines in value.The Fund invests, under normal circumstances, at least 80% of its net assets in equity securities of U.S. issuers, primarily common stocks. Equity securities also may include preferred stocks, convertible securities and derivatives the value of which are linked to equity securities. The Fund also may invest up to 20% of its net assets in equity securities of foreign companies, which are companies organized under the laws of countries other than the United States. Although the Fund typically invests in seasoned issuers, it may, depending on the appropriateness to the Fund's strategy and availability in the marketplace, purchase securities of companies in initial public offerings (IPOs) or shortly thereafter, which can be subject to greater volatility than seasoned issuers.The subadviser’s investment process is designed to provide investors with investment exposure to sector weightings and risk characteristics generally similar to those of the Russell 1000® Value Index, although the Fund may emphasize one or more particular sectors at times.The Fund’s subadviser employs a value style of investing, focusing on dividend-paying stocks and other investments and investment techniques that provide income. The subadviser identifies potential investments through extensive quantitative and fundamental analysis, using a bottom-up approach that emphasizes three key factors:•Value: quantitative screens track traditional measures, such as price-to-earnings, price-to-book and price-to-sales ratios, which are analyzed and compared against the market;•Sound business fundamentals: a company's balance sheet and income data are examined to determine the company's financial history; and•Positive business momentum: a company's earnings and forecast changes are analyzed and sales and earnings trends are reviewed to determine the company's financial condition or the presence of a catalyst that will trigger a price increase near- to mid-term.Money market instruments primarily serve as “cover” for the Fund’s derivatives positions, although the subadviser also at times allocates assets to money market instruments in order to hedge against equity market risk. Money market instruments are high-quality short-term debt securities issued by governments and corporations. The Fund obtains exposure to U.S. Treasury bonds by purchasing futures contracts on U.S. Treasury bonds included in the Bloomberg U.S. Long Treasury Index. The Fund also may purchase options on U.S. Treasury bond futures contracts. The Fund uses U.S. Treasury bond futures and options to hedge against equity market risks. It is possible, however, that the Fund could lose money on both its equity investments and its bond exposures at the same time.In determining what the subadviser believes to be the optimal allocation among equities, U.S. Treasury bonds and money market instruments, the subadviser uses estimates of future returns and volatility. When the subadviser believes that equity markets appear favorable, it uses leverage generated by futures and options to increase the Fund’s equity exposure. When equity markets appear to be unfavorable, the subadviser reduces the Fund’s equity exposure through the use of equity index futures and related options. It also may allocate assets to U.S. Treasury bond futures and related options and/or money market instruments. By combining equity securities, futures on stock indexes and U.S. Treasury bonds, call options and money market instruments in varying amounts, the subadviser adjusts the Fund’s overall equity exposure within a range of 80%–150% of the Fund’s net assets. “Equity exposure” for purposes of this range refers to exposure that may be broader than the definition of “equity securities” for purposes of the Fund's 80% policy, as described above. The subadviser regularly reviews the Fund's investments and will consider selling an investment when the subadviser believes such investment is no longer attractive as a result of price appreciation or a change in risk profile, or because other available investments are considered to be more attractive.The Fund is designed for investors seeking total return consisting of capital appreciation and/or income, by investing in a portfolio of equity and debt securities, and derivatives with investment characteristics similar to equity and debt securities, in order to achieve enhanced equity returns while maintaining a level of volatility risk that is similar to the Russell 1000® Value Index.
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NWAPX - Performance
Return Ranking - Trailing
| Period | NWAPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 19.9% | -12.3% | 50.7% | 21.72% |
| 1 Yr | 20.2% | -3.7% | 64.1% | 55.62% |
| 3 Yr | 9.0%* | -4.2% | 31.8% | 30.67% |
| 5 Yr | N/A* | 0.1% | 45.7% | 4.15% |
| 10 Yr | N/A* | 1.9% | 25.5% | 9.99% |
* Annualized
Return Ranking - Calendar
| Period | NWAPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.3% | -16.9% | 46.1% | 62.89% |
| 2022 | -10.5% | -64.7% | 4.6% | 37.51% |
| 2021 | 9.6% | -44.2% | 57.5% | 76.81% |
| 2020 | N/A | -23.2% | 285.0% | N/A |
| 2019 | N/A | -21.4% | 48.5% | N/A |
Total Return Ranking - Trailing
| Period | NWAPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 19.9% | -12.3% | 50.7% | 21.72% |
| 1 Yr | 20.2% | -3.7% | 64.1% | 55.62% |
| 3 Yr | 9.0%* | -4.2% | 31.8% | 30.67% |
| 5 Yr | N/A* | 0.1% | 45.7% | 4.09% |
| 10 Yr | N/A* | 1.9% | 25.5% | 9.34% |
* Annualized
Total Return Ranking - Calendar
| Period | NWAPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.4% | -15.9% | 46.7% | 82.47% |
| 2022 | -0.8% | -42.0% | 8.5% | 12.54% |
| 2021 | 34.5% | 3.6% | 129.7% | 2.94% |
| 2020 | N/A | -22.6% | 304.8% | N/A |
| 2019 | N/A | -12.7% | 52.1% | N/A |
NAV & Total Return History
NWAPX - Holdings
Concentration Analysis
| NWAPX | Category Low | Category High | NWAPX % Rank | |
|---|---|---|---|---|
| Net Assets | 579 M | 126 K | 163 B | 59.35% |
| Number of Holdings | 78 | 2 | 1727 | 51.31% |
| Net Assets in Top 10 | 174 M | 466 K | 39.5 B | 57.76% |
| Weighting of Top 10 | 28.13% | 4.4% | 99.1% | 47.19% |
Top 10 Holdings
- JPMorgan Chase Co. 3.60%
- Berkshire Hathaway, Inc., Class B 3.31%
- ATT, Inc. 3.18%
- Medtronic plc 2.97%
- U.S. Treasury Bills 2.88%
- Cisco Systems, Inc. 2.56%
- L3Harris Technologies, Inc. 2.52%
- Sanofi SA 2.45%
- Danaher Corp. 2.40%
- Goldman Sachs Group, Inc. (The) 2.27%
Asset Allocation
| Weighting | Return Low | Return High | NWAPX % Rank | |
|---|---|---|---|---|
| Stocks | 90.63% | 4.16% | 102.49% | 95.33% |
| Cash | 6.58% | 0.00% | 17.28% | 2.80% |
| Other | 2.79% | -2.59% | 39.89% | 3.55% |
| Preferred Stocks | 0.00% | 0.00% | 13.68% | 82.62% |
| Convertible Bonds | 0.00% | 0.00% | 3.66% | 82.07% |
| Bonds | 0.00% | 0.00% | 97.99% | 82.80% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | NWAPX % Rank | |
|---|---|---|---|---|
| Financial Services | 27.46% | 0.00% | 58.05% | 6.42% |
| Healthcare | 19.42% | 0.00% | 30.08% | 25.66% |
| Industrials | 13.37% | 0.00% | 42.76% | 24.06% |
| Energy | 12.16% | 0.00% | 54.00% | 9.53% |
| Technology | 9.09% | 0.00% | 54.02% | 65.75% |
| Utilities | 6.32% | 0.00% | 27.04% | 27.08% |
| Consumer Cyclical | 3.49% | 0.00% | 22.74% | 85.09% |
| Communication Services | 3.08% | 0.00% | 26.58% | 81.04% |
| Consumer Defense | 2.15% | 0.00% | 34.10% | 94.62% |
| Basic Materials | 1.99% | 0.00% | 21.69% | 76.32% |
| Real Estate | 1.46% | 0.00% | 90.54% | 67.26% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | NWAPX % Rank | |
|---|---|---|---|---|
| US | 90.63% | 4.16% | 102.49% | 86.64% |
| Non US | 0.00% | 0.00% | 24.08% | 85.89% |
NWAPX - Expenses
Operational Fees
| NWAPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.80% | 0.03% | 14.82% | 61.07% |
| Management Fee | 0.60% | 0.00% | 1.50% | 57.45% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.10% | 0.00% | 0.50% | 56.04% |
Sales Fees
| NWAPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 5.75% | N/A |
| Deferred Load | N/A | 0.95% | 5.00% | N/A |
Trading Fees
| NWAPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 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.
| NWAPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 488.00% | 57.92% |
NWAPX - Distributions
Dividend Yield Analysis
| NWAPX | Category Low | Category High | NWAPX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.60% | 0.00% | 16.67% | 64.73% |
Dividend Distribution Analysis
| NWAPX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Quarterly |
Net Income Ratio Analysis
| NWAPX | Category Low | Category High | NWAPX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.24% | -1.51% | 4.28% | 55.89% |
Capital Gain Distribution Analysis
| NWAPX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 09, 2024 | $0.162 | OrdinaryDividend |
| Mar 11, 2024 | $0.091 | OrdinaryDividend |
| Dec 20, 2023 | $0.245 | OrdinaryDividend |
| Sep 11, 2023 | $0.142 | OrdinaryDividend |
| Jun 12, 2023 | $0.162 | OrdinaryDividend |
| Mar 13, 2023 | $0.087 | OrdinaryDividend |
| Dec 21, 2022 | $3.220 | OrdinaryDividend |
| Sep 12, 2022 | $0.120 | OrdinaryDividend |
| Jun 06, 2022 | $0.138 | OrdinaryDividend |
| Mar 07, 2022 | $0.022 | OrdinaryDividend |
| Dec 21, 2021 | $7.677 | OrdinaryDividend |
| Sep 07, 2021 | $0.125 | OrdinaryDividend |
| Jun 07, 2021 | $0.111 | OrdinaryDividend |
| Mar 08, 2021 | $0.025 | OrdinaryDividend |
| Dec 21, 2020 | $1.427 | OrdinaryDividend |
| Sep 08, 2020 | $0.125 | OrdinaryDividend |
| Jun 08, 2020 | $0.101 | OrdinaryDividend |
| Mar 09, 2020 | $0.111 | OrdinaryDividend |
NWAPX - Fund Manager Analysis
Managers
John Bailer
Start Date
Tenure
Tenure Rank
Aug 28, 2019
2.76
2.8%
John is a member of Newton’s equity income team and is the lead portfolio manager for dividend-focused Large Cap Value strategies. John is responsible for creating the Income Stock strategy to meet demand from clients seeking attractively valued higher dividend income while not sacrificing dividend growth. He is also the lead portfolio manager for the Equity Income strategy, which emphasizes dividend growth stocks, and a senior research analyst on the Dynamic Large Cap Value strategy. John joined Newton in September 2021, following the integration of Mellon Investments Corporation’s equity and multi-asset capabilities into the Newton Investment Management Group. Before joining Newton, John was a senior portfolio manager and analyst at Mellon Investments Corporation and The Boston Company Asset Management (both BNY Mellon group companies). He has managed dividend strategies for the firm since 2005. Previously, John was Chair of Mellon’s Proxy & Governance committee. John began his investment career in 1992 and has spent his entire career with BNY Mellon. John has a BS with distinction in Accounting and Information Management Systems from Babson College and an MS in Finance from Boston College. He received his CFA designation in 1997 and is a member of the CFA Institute and the CFA Society Boston.
Brian Ferguson
Start Date
Tenure
Tenure Rank
Aug 28, 2019
2.76
2.8%
Brian is a member of Newton’s equity income team. In his current role, Brian is the senior portfolio manager on the Dynamic Large Cap Value Equity strategy, a position he has held since 2003. Brian joined Newton in September 2021, following the integration of Mellon Investments Corporation’s equity and multi-asset capabilities into the Newton Investment Management Group. Before joining Newton, Brian was a senior portfolio manager and research analyst at Mellon Investments Corporation and The Boston Company Asset Management (both BNY Mellon group companies). Before joining BNY Mellon, Brian was a research analyst at Wellington Management. Prior to that, he was an assistant directorofGeneral Electric Capital Corporation’s corporate treasury group and graduated from GE's Financial Management Program. Brian has a BA in Economics and International Relations from Bucknell University and an MBA with a concentration in Finance from Columbia Business School.
Keith Howell
Start Date
Tenure
Tenure Rank
Feb 28, 2022
0.25
0.3%
Keith is a member of Newton’s equity income team. In his current role, he is a portfolio manager for the Dynamic Large Cap Value Equity, Income Stock and Equity Income strategies. Keith joined Newton in September 2021, following the integration of Mellon Investments Corporation’s equity and multi-asset capabilities into the Newton Investment Management Group. Before joining Newton, Keith was a senior research analyst at Mellon Investments Corporation and The Boston Company Asset Management (both BNY Mellon group companies). Keith began his investment career in 2006 with BNY Mellon and has covered the financials, technology and industrials sectors. Keith earned an AB in Economics from Harvard University. He holds the CFA designation and is a member of the CFA Institute.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.05 | 86.59 | 8.12 | 6.71 |
