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...
Performance Trust Total Return Bond Fund
mutual fund
PTAOX
Payout Change
Pending
Price as of:
$19.51
+0.03
+0.15%
primary theme
U.S. Intermediate-Term Bond Duration
share class
PTAOX (Mutual Fund)
Performance Trust Total Return Bond Fund
Payout Change
Pending
Price as of:
$19.51
+0.03
+0.15%
primary theme
U.S. Intermediate-Term Bond Duration
share class
PTAOX (Mutual Fund)
Performance Trust Total Return Bond Fund
Payout Change
Pending
Price as of:
$19.51
+0.03
+0.15%
primary theme
U.S. Intermediate-Term Bond Duration
share class
Name
As of 12/24/2024Price
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
3.2%
1 yr return
3.4%
3 Yr Avg Return
-1.3%
5 Yr Avg Return
0.6%
Net Assets
$6.7 B
Holdings in Top 10
13.4%
52 WEEK LOW AND HIGH
$19.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.01%
SALES FEES
Front Load 2.25%
Deferred Load N/A
TRADING FEES
Turnover 30.80%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/24/2024Price
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
PTAOX - Profile
Distributions
- YTD Total Return 3.2%
- 3 Yr Annualized Total Return -1.3%
- 5 Yr Annualized Total Return 0.6%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 3.12%
- Dividend Yield 6.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NamePerformance Trust Total Return Bond Fund
-
Fund Family NamePerformance Trust Asset Management
-
Inception DateAug 31, 2010
-
Shares Outstanding1608505
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerG. Plaiss
Fund Description
Under normal circumstances, the Fund will invest at least 80% of its net assets (including any borrowings for investment purposes) in bonds and other fixed-income instruments (collectively, “fixed-income instruments”). “Fixed-income instruments” include corporate, government and municipal bonds, and asset-backed and mortgage-backed securities and other bonds, debt securities and similar fixed-income instruments issued by various U.S. Government, municipal or private-sector entities.
The Fund’s investments in fixed-income instruments may consist of residential mortgage-backed securities (“RMBS”) in the prime, subprime and “Alt-A” first lien mortgage sectors and commercial mortgage-backed securities (“CMBS”), including traditional and interest-only CMBS. Subprime mortgage loans are made to borrowers who display poor credit histories and other characteristics that correlate with a higher default risk. Alt-A is one of three general classifications of mortgages along with prime and subprime. The risk profile of Alt-A mortgages falls between prime and subprime. The Fund may invest a substantial portion of its portfolio
in RMBS and CMBS. These investments may consist of “agency” RMBS created by one of three quasi-governmental agencies (Government National Mortgage Association (“Ginnie Mae”), Federal National Mortgage (“Fannie Mae”), and Federal Home Loan Mortgage Corp. (“Freddie Mac”)), which directly or indirectly benefit from U.S. Government backing, and “non-agency” RMBS or CMBS issued by private financial institutions and entities, which do not benefit from U.S. Government backing.
The Fund’s investments also may consist of municipal securities issued by or on behalf of states and various local governments and municipalities throughout the United States and its territories, including general obligation municipal bonds, or other securities issued or explicitly guaranteed by state or local governments, and other municipal securities, such as essential purpose revenue bonds. Municipal securities may pay interest that is treated as either federally taxable or tax exempt.
In addition to RMBS, CMBS, and municipal bonds, the Fund’s investments may consist of, but are not limited to: collateralized debt obligations (“CDOs”) (including collateralized loan obligations (“CLOs”)) and other asset-backed securities collateralized by a variety of consumer and commercial loans (such as automobile loans/leases, equipment loans/leases, credit card debt, and unsecured consumer debt), certain of which may include loans to subprime borrowers; stripped mortgage-related or other asset-backed, including principal-only and interest-only securities; fixed, floating rate or inverse floating rate debt instruments; corporate bonds, including investment-grade bonds and high-yield bonds rated below investment grade by a nationally recognized statistical rating organization (“NRSRO”), commonly known as “junk bonds”; real estate investment trusts (“REITs”); instruments guaranteed by, or secured by collateral that is guaranteed by, the U.S. Government or its agencies, instrumentalities or sponsored corporations, as well as mortgage-backed securities of the U.S. Government or its agencies; interests in investment companies, including exchange-traded funds (“ETFs”); or other fixed-income or equity investments. The Fund may also invest a portion of its assets in futures contracts, options and swaps. The Fund may invest in these derivative instruments as a substitute for taking positions in fixed-income instruments or to reduce exposure to other risks.
The Fund’s portfolio managers construct the Fund’s investment portfolio with a target weighted average duration of no less than one and no more than ten. The duration of the Fund’s investment portfolio may vary materially from its target from time to time, and there is no assurance that the duration of the Fund’s investment portfolio will conform to these limits.
The Adviser uses a value-oriented strategy looking for higher-yielding and undervalued fixed-income securities that offer above-average total return. The Fund’s investment process begins with an evaluation of both interest rate and credit risk. Investments are selected for the Fund by applying a process whereby the Adviser makes a forward projection of the expected value of an investment after a period of time, assuming specific changes in the value of the investment or key factors that would affect its value, such as changes in interest rates, yield curve shifts and time horizons. For fixed-income instruments with credit components, a careful assessment of credit risk is made. Investments with superior risk/reward characteristics with respect to criteria such as price, interest rate sensitivity and credit quality, are selected for the Fund’s portfolio.
The Fund’s portfolio turnover rate is not intended to be high, although a higher turnover rate may occur as market conditions warrant. The Fund’s portfolio managers may sell an investment to satisfy redemption requests, when a security no longer satisfies the Fund’s investment criteria as described above, or when a more attractive investment opportunity becomes available.
PTAOX - Performance
Return Ranking - Trailing
| Period | PTAOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.2% | -7.8% | 11.6% | 7.99% |
| 1 Yr | 3.4% | -7.5% | 11.7% | 6.85% |
| 3 Yr | -1.3%* | -11.0% | 27.4% | 10.55% |
| 5 Yr | 0.6%* | -7.6% | 58.4% | 19.59% |
| 10 Yr | N/A* | -3.0% | 73.8% | 4.94% |
* Annualized
Return Ranking - Calendar
| Period | PTAOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 3.1% | -16.2% | 8.1% | 10.19% |
| 2022 | -16.0% | -34.7% | 131.9% | 49.57% |
| 2021 | -1.8% | -11.6% | 4.4% | 4.67% |
| 2020 | 1.6% | -9.9% | 946.1% | 91.48% |
| 2019 | N/A | -1.7% | 16.9% | N/A |
Total Return Ranking - Trailing
| Period | PTAOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.2% | -7.8% | 11.6% | 7.99% |
| 1 Yr | 3.4% | -7.5% | 11.7% | 6.85% |
| 3 Yr | -1.3%* | -11.0% | 27.4% | 10.55% |
| 5 Yr | 0.6%* | -7.6% | 58.4% | 19.59% |
| 10 Yr | N/A* | -3.0% | 73.8% | 5.41% |
* Annualized
Total Return Ranking - Calendar
| Period | PTAOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.2% | -11.3% | 11.9% | 15.49% |
| 2022 | -13.0% | -32.2% | 131.9% | 30.11% |
| 2021 | 1.5% | -9.4% | 9.2% | 5.23% |
| 2020 | 5.4% | -1.9% | 1009.0% | 91.37% |
| 2019 | N/A | 1.1% | 21668.0% | N/A |
NAV & Total Return History
PTAOX - Holdings
Concentration Analysis
| PTAOX | Category Low | Category High | PTAOX % Rank | |
|---|---|---|---|---|
| Net Assets | 6.7 B | 2.9 M | 314 B | 23.01% |
| Number of Holdings | 1564 | 1 | 17880 | 29.28% |
| Net Assets in Top 10 | 1.07 B | 1.62 M | 35.1 B | 28.66% |
| Weighting of Top 10 | 13.36% | 4.7% | 3984.6% | 86.86% |
Top 10 Holdings
- United States Treasury Note/Bond 3.15%
- United States Treasury Note/Bond 2.97%
- United States Treasury Note/Bond 1.59%
- First American Government Obligations Fund 1.32%
- United States Treasury Note/Bond 1.18%
- United States Treasury Note/Bond 0.78%
- United States Treasury Note/Bond 0.63%
- United States Treasury Strip Principal 0.60%
- United States Treasury Strip Principal 0.59%
- United States Treasury Strip Principal 0.56%
Asset Allocation
| Weighting | Return Low | Return High | PTAOX % Rank | |
|---|---|---|---|---|
| Bonds | 84.92% | 0.00% | 9231.88% | 86.01% |
| Other | 13.25% | -27.25% | 1695.17% | 17.24% |
| Cash | 1.79% | -54.51% | 237.69% | 65.01% |
| Convertible Bonds | 1.31% | 0.00% | 7.93% | 57.53% |
| Preferred Stocks | 0.03% | 0.00% | 72.34% | 21.91% |
| Stocks | 0.01% | 0.00% | 99.98% | 28.39% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PTAOX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | 75.91% |
| Technology | 0.00% | 0.00% | 43.45% | 70.55% |
| Real Estate | 0.00% | 0.00% | 99.26% | 75.53% |
| Industrials | 0.00% | 0.00% | 48.31% | 78.97% |
| Healthcare | 0.00% | 0.00% | 17.70% | 74.57% |
| Financial Services | 0.00% | 0.00% | 100.00% | 78.97% |
| Energy | 0.00% | 0.00% | 100.00% | 7.07% |
| Communication Services | 0.00% | 0.00% | 100.00% | 80.31% |
| Consumer Defense | 0.00% | 0.00% | 99.67% | 70.75% |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | 78.01% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 76.48% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PTAOX % Rank | |
|---|---|---|---|---|
| US | 0.01% | 0.00% | 99.98% | 27.62% |
| Non US | 0.00% | 0.00% | 88.46% | 93.35% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | PTAOX % Rank | |
|---|---|---|---|---|
| Securitized | 44.05% | 0.00% | 98.40% | 16.74% |
| Municipal | 27.95% | 0.00% | 100.00% | 1.88% |
| Corporate | 24.10% | 0.00% | 100.00% | 72.59% |
| Government | 3.09% | 0.00% | 86.23% | 92.99% |
| Cash & Equivalents | 1.32% | 0.00% | 237.69% | 65.63% |
| Derivative | 0.00% | -6.56% | 43.84% | 58.26% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | PTAOX % Rank | |
|---|---|---|---|---|
| US | 84.92% | 0.00% | 9042.62% | 83.07% |
| Non US | 0.00% | 0.00% | 189.26% | 95.74% |
PTAOX - Expenses
Operational Fees
| PTAOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.01% | 0.01% | 39.64% | 25.29% |
| Management Fee | 0.60% | 0.00% | 1.76% | 97.48% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 61.93% |
| Administrative Fee | N/A | 0.01% | 0.50% | N/A |
Sales Fees
| PTAOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 2.25% | 2.00% | 5.75% | 97.78% |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| PTAOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | 33.33% |
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.
| PTAOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 30.80% | 2.00% | 493.39% | 8.86% |
PTAOX - Distributions
Dividend Yield Analysis
| PTAOX | Category Low | Category High | PTAOX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 6.07% | 0.00% | 10.11% | 40.10% |
Dividend Distribution Analysis
| PTAOX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Quarterly |
Net Income Ratio Analysis
| PTAOX | Category Low | Category High | PTAOX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.12% | -1.28% | 4.79% | 2.52% |
Capital Gain Distribution Analysis
| PTAOX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 16, 2024 | $0.099 | OrdinaryDividend |
| Nov 15, 2024 | $0.064 | OrdinaryDividend |
| Oct 15, 2024 | $0.070 | OrdinaryDividend |
| Sep 16, 2024 | $0.078 | OrdinaryDividend |
| Aug 15, 2024 | $0.066 | OrdinaryDividend |
| Jul 15, 2024 | $0.077 | OrdinaryDividend |
| Apr 15, 2024 | $0.057 | OrdinaryDividend |
| Mar 15, 2024 | $0.056 | OrdinaryDividend |
| Jan 16, 2024 | $0.025 | OrdinaryDividend |
| Dec 15, 2023 | $0.125 | OrdinaryDividend |
| Nov 15, 2023 | $0.058 | OrdinaryDividend |
| Oct 16, 2023 | $0.068 | OrdinaryDividend |
| Sep 15, 2023 | $0.079 | OrdinaryDividend |
| Aug 15, 2023 | $0.055 | OrdinaryDividend |
| Jul 14, 2023 | $0.074 | OrdinaryDividend |
| Jun 15, 2023 | $0.050 | OrdinaryDividend |
| May 16, 2023 | $0.078 | OrdinaryDividend |
| Apr 14, 2023 | $0.053 | OrdinaryDividend |
| Mar 15, 2023 | $0.035 | OrdinaryDividend |
| Feb 15, 2023 | $0.050 | OrdinaryDividend |
| Jan 13, 2023 | $0.021 | OrdinaryDividend |
| Dec 15, 2022 | $0.118 | OrdinaryDividend |
| Nov 15, 2022 | $0.048 | OrdinaryDividend |
| Oct 14, 2022 | $0.062 | OrdinaryDividend |
| Sep 15, 2022 | $0.070 | OrdinaryDividend |
| Aug 15, 2022 | $0.050 | OrdinaryDividend |
| Jul 15, 2022 | $0.072 | OrdinaryDividend |
| Jun 15, 2022 | $0.056 | OrdinaryDividend |
| May 16, 2022 | $0.072 | OrdinaryDividend |
| Apr 14, 2022 | $0.059 | OrdinaryDividend |
| Mar 15, 2022 | $0.030 | OrdinaryDividend |
| Feb 15, 2022 | $0.046 | OrdinaryDividend |
| Jan 14, 2022 | $0.022 | OrdinaryDividend |
| Dec 15, 2021 | $0.063 | OrdinaryDividend |
| Dec 15, 2021 | $0.019 | CapitalGainShortTerm |
| Dec 15, 2021 | $0.056 | CapitalGainLongTerm |
| Nov 15, 2021 | $0.045 | OrdinaryDividend |
| Oct 15, 2021 | $0.087 | OrdinaryDividend |
| Sep 15, 2021 | $0.050 | OrdinaryDividend |
| Aug 16, 2021 | $0.047 | OrdinaryDividend |
| Jul 15, 2021 | $0.071 | OrdinaryDividend |
| Jun 15, 2021 | $0.032 | OrdinaryDividend |
| May 17, 2021 | $0.076 | OrdinaryDividend |
| Apr 15, 2021 | $0.064 | OrdinaryDividend |
| Mar 15, 2021 | $0.060 | OrdinaryDividend |
| Feb 16, 2021 | $0.059 | OrdinaryDividend |
| Jan 15, 2021 | $0.030 | OrdinaryDividend |
| Dec 15, 2020 | $0.114 | OrdinaryDividend |
| Nov 16, 2020 | $0.061 | OrdinaryDividend |
| Oct 15, 2020 | $0.078 | OrdinaryDividend |
| Sep 15, 2020 | $0.084 | OrdinaryDividend |
| Aug 14, 2020 | $0.055 | OrdinaryDividend |
| Jul 15, 2020 | $0.089 | OrdinaryDividend |
| Jun 15, 2020 | $0.054 | OrdinaryDividend |
| May 15, 2020 | $0.071 | OrdinaryDividend |
| Apr 15, 2020 | $0.070 | OrdinaryDividend |
| Mar 16, 2020 | $0.061 | OrdinaryDividend |
| Feb 14, 2020 | $0.087 | OrdinaryDividend |
| Jan 15, 2020 | $0.018 | OrdinaryDividend |
| Dec 30, 2019 | $0.101 | OrdinaryDividend |
| Nov 27, 2019 | $0.068 | OrdinaryDividend |
| Oct 30, 2019 | $0.084 | OrdinaryDividend |
| Sep 27, 2019 | $0.066 | OrdinaryDividend |
| Aug 29, 2019 | $0.060 | OrdinaryDividend |
| Jul 30, 2019 | $0.093 | OrdinaryDividend |
| Jun 27, 2019 | $0.087 | OrdinaryDividend |
| May 30, 2019 | $0.060 | OrdinaryDividend |
| Apr 29, 2019 | $0.073 | OrdinaryDividend |
| Mar 28, 2019 | $0.069 | OrdinaryDividend |
| Feb 27, 2019 | $0.060 | OrdinaryDividend |
| Jan 30, 2019 | $0.073 | OrdinaryDividend |
PTAOX - Fund Manager Analysis
Managers
G. Plaiss
Start Date
Tenure
Tenure Rank
Aug 31, 2010
11.76
11.8%
Mike brings over 15 years of experience managing institutional fixed-income portfolios. He currently manages investment portfolios across all of PTAM’s structured credit and municipal bond focused funds and separately managed accounts. Mike’s responsibilities include portfolio construction, security selection, portfolio attribution, modeling RMBS and municipal bond cash flows, and risk management. Prior to joining PTAM, Mike managed more than $700 million in municipal and corporate bonds, mortgage-backed securities, and other structured fixed-income for the Kentucky Farm Bureau, the state’s largest property and casualty insurance provider. Earlier in his career, Mike held positions at multiple banking institutions where he also managed diverse fixed income portfolios. Mike graduated from Indiana University, Bloomington with a Bachelor of Arts in Economics and is a CFA charterholder.
Anthony Harris
Start Date
Tenure
Tenure Rank
Aug 31, 2010
11.76
11.8%
Mr. Harris served as a member of the PT Asset Management, LLC’s portfolio management team, and was co-portfolio manager of the PT Asset Management, LLC’s certain pooled investment vehicles and separately managed accounts. His responsibilities include portfolio construction, security selection, portfolio attribution, and risk management. Prior to joining the PT Asset Management, LLC in February 2009, he co-founded Six Degrees Capital Management in January 2007, an alternative fixed- income investment manager focused on securitized products. From 2001 to 2007, Mr. Harris originated, structured, and invested in securitized products at BMO Capital Markets Corp. and managed a multi-billion dollar portfolio of ABS, CDOs, and RMBS. Mr. Harris began his career with PricewaterhouseCoopers and passed the CPA exam in 1998. Mr. Harris received a Bachelor of Business Administration from University of Michigan Ross School of Business with an emphasis in Accounting, and a MBA from the University of Chicago Booth School of Business with an emphasis in Finance and Economics.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 33.43 | 6.77 | 1.16 |
