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 10/14/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
N/A
1 yr return
N/A
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$156 M
Holdings in Top 10
99.3%
Expense Ratio 1.98%
Front Load N/A
Deferred Load N/A
Turnover 8.00%
Redemption Fee N/A
Standard (Taxable)
$10,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 10/14/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Under normal circumstances, the Fund will, directly or indirectly, invest at least 80% of its assets in, or derive at least 80% of its income from, securities that are exempt from regular federal income tax and may subject the investors to alternative minimum tax. Utilizing a quantitative and tactical approach, the Fund implements a strategy that seeks to hold a diversified portfolio of primarily high-yield municipal open-end mutual funds, closed-end funds, or ETFs when various risk measurements show the high yield municipal bond markets are trending upwards, and municipal money market securities or funds when the high yield municipal bond markets are trending downwards. Depending on market conditions, the Fund may be invested: (i) primarily in high yield municipal bond funds and other municipal fixed income funds with similar characteristics; (ii) primarily in short-term municipal money market fund securities; or (iii) a combination of (i) and (ii). The strategy can also invest in other fixed income assets classes such as, but not limited to, long-term, intermediate and short-term municipal funds and single state municipal funds. In performing its investment selection, the high-yield municipal asset classs directional trends are evaluated using quantitative models and inputs. Though it intends to invest primarily in the securities identified immediately above, the Fund may invest in debt securities of any credit quality or maturity. In addition to high yield municipal bond markets, the Fund may also have exposure to the U.S. fixed income markets (including private debt) by investing up to 20% of its assets in other investment companies that are not municipal funds, including open-end mutual funds, ETFs, closed-end funds (including tender offer and interval funds and business development companies), and real estate investment trusts (REITs). The investment companies in which the Fund invests may invest in securities of any maturity or quality, including securities rated below investment grade. The Fund may invest in affiliated and unaffiliated investment companies.
To seek greater investment exposure to the Funds strategies, the Fund has the ability under federal law to leverage its portfolio by borrowing money from a bank in the amount of up to one-third of its assets (which includes the borrowed amount). The Fund may invest directly or indirectly in various types of derivatives, including swap contracts as a substitute for making direct investments in underlying instruments or to reduce certain investment exposures. The Fund may borrow money to enter into swap contracts that may leverage the Funds portfolio to a significant degree.
Period | RWMNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -6.4% | 11.1% | 10.51% |
1 Yr | N/A | -2.1% | 16.6% | 96.73% |
3 Yr | N/A* | -9.8% | 27.8% | 8.59% |
5 Yr | N/A* | -7.5% | 58.4% | 43.17% |
10 Yr | N/A* | -2.9% | 73.8% | N/A |
* Annualized
Period | RWMNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.8% | -16.2% | 8.1% | 90.95% |
2022 | -10.0% | -34.7% | 131.9% | 0.74% |
2021 | -2.2% | -11.6% | 4.4% | 9.46% |
2020 | -1.9% | -10.1% | 946.1% | 98.18% |
2019 | 8.4% | -1.7% | 16.9% | 1.07% |
Period | RWMNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | -6.4% | 11.1% | 10.51% |
1 Yr | N/A | -2.1% | 16.6% | 96.73% |
3 Yr | N/A* | -9.8% | 27.8% | 8.59% |
5 Yr | N/A* | -7.5% | 58.4% | 43.17% |
10 Yr | N/A* | -2.9% | 73.8% | N/A |
* Annualized
Period | RWMNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.6% | -11.3% | 11.9% | 96.09% |
2022 | -9.2% | -32.2% | 131.9% | 3.26% |
2021 | 4.2% | -9.4% | 9.2% | 0.66% |
2020 | -1.3% | -1.9% | 1009.0% | 99.77% |
2019 | 9.8% | 1.1% | 21668.0% | 23.84% |
RWMNX | Category Low | Category High | RWMNX % Rank | |
---|---|---|---|---|
Net Assets | 156 M | 2.9 M | 314 B | 85.95% |
Number of Holdings | 21 | 1 | 17787 | 97.64% |
Net Assets in Top 10 | 143 M | 1.62 M | 35.1 B | 65.47% |
Weighting of Top 10 | 99.31% | 4.4% | 432.9% | 2.17% |
Weighting | Return Low | Return High | RWMNX % Rank | |
---|---|---|---|---|
Stocks | 95.29% | 0.00% | 99.99% | 1.23% |
Cash | 4.71% | -54.51% | 237.69% | 29.60% |
Preferred Stocks | 0.00% | 0.00% | 71.02% | 86.43% |
Other | 0.00% | -27.25% | 53.64% | 91.06% |
Convertible Bonds | 0.00% | 0.00% | 7.93% | 97.31% |
Bonds | 0.00% | 0.00% | 993.61% | 99.49% |
Weighting | Return Low | Return High | RWMNX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 100.00% | 100.00% |
Technology | 0.00% | 0.00% | 43.45% | 100.00% |
Real Estate | 0.00% | 0.00% | 99.26% | 100.00% |
Industrials | 0.00% | 0.00% | 48.31% | 27.78% |
Healthcare | 0.00% | 0.00% | 17.70% | 100.00% |
Financial Services | 0.00% | 0.00% | 100.00% | 100.00% |
Energy | 0.00% | 0.00% | 100.00% | 100.00% |
Communication Services | 0.00% | 0.00% | 100.00% | 100.00% |
Consumer Defense | 0.00% | 0.00% | 99.67% | 100.00% |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | 55.56% |
Basic Materials | 0.00% | 0.00% | 100.00% | 83.33% |
Weighting | Return Low | Return High | RWMNX % Rank | |
---|---|---|---|---|
US | 95.29% | 0.00% | 99.99% | 1.13% |
Non US | 0.00% | 0.00% | 88.46% | 81.40% |
RWMNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.98% | 0.01% | 39.64% | 3.62% |
Management Fee | 0.70% | 0.00% | 1.76% | 98.75% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 56.32% |
Administrative Fee | N/A | 0.01% | 0.50% | N/A |
RWMNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
RWMNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 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.
RWMNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 8.00% | 2.00% | 493.39% | 0.72% |
RWMNX | Category Low | Category High | RWMNX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 10.11% | 86.36% |
RWMNX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Quarterly | Monthly | Monthly |
RWMNX | Category Low | Category High | RWMNX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.05% | -1.28% | 4.79% | 99.02% |
RWMNX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency |
Date | Amount | Type |
---|---|---|
Sep 27, 2024 | $0.051 | OrdinaryDividend |
Aug 29, 2024 | $0.055 | OrdinaryDividend |
Jul 30, 2024 | $0.053 | OrdinaryDividend |
Apr 29, 2024 | $0.054 | OrdinaryDividend |
Mar 27, 2024 | $0.046 | OrdinaryDividend |
Feb 28, 2024 | $0.055 | OrdinaryDividend |
Jan 30, 2024 | $0.067 | OrdinaryDividend |
Dec 27, 2023 | $0.035 | OrdinaryDividend |
Nov 29, 2023 | $0.024 | OrdinaryDividend |
Oct 30, 2023 | $0.026 | OrdinaryDividend |
Sep 28, 2023 | $0.024 | OrdinaryDividend |
Aug 30, 2023 | $0.034 | OrdinaryDividend |
Jul 28, 2023 | $0.029 | OrdinaryDividend |
Jun 29, 2023 | $0.033 | OrdinaryDividend |
May 30, 2023 | $0.024 | OrdinaryDividend |
Apr 27, 2023 | $0.031 | OrdinaryDividend |
Mar 30, 2023 | $0.016 | OrdinaryDividend |
Feb 27, 2023 | $0.047 | OrdinaryDividend |
Jan 30, 2023 | $0.071 | OrdinaryDividend |
Dec 28, 2022 | $0.019 | OrdinaryDividend |
Nov 29, 2022 | $0.018 | OrdinaryDividend |
Oct 28, 2022 | $0.010 | ReturnOfCapital |
Sep 29, 2022 | $0.015 | ReturnOfCapital |
Aug 30, 2022 | $0.046 | ReturnOfCapital |
Jun 29, 2022 | $0.003 | ReturnOfCapital |
Apr 28, 2022 | $0.017 | OrdinaryDividend |
Feb 25, 2022 | $0.012 | ReturnOfCapital |
Dec 29, 2021 | $0.035 | OrdinaryDividend |
Dec 29, 2021 | $0.764 | CapitalGainLongTerm |
Sep 29, 2021 | $0.030 | OrdinaryDividend |
Aug 30, 2021 | $0.027 | OrdinaryDividend |
Jul 29, 2021 | $0.030 | OrdinaryDividend |
Jun 29, 2021 | $0.024 | OrdinaryDividend |
May 27, 2021 | $0.027 | OrdinaryDividend |
Apr 29, 2021 | $0.037 | OrdinaryDividend |
Mar 30, 2021 | $0.024 | OrdinaryDividend |
Feb 25, 2021 | $0.029 | OrdinaryDividend |
Jan 28, 2021 | $0.033 | OrdinaryDividend |
Dec 29, 2020 | $0.061 | OrdinaryDividend |
Apr 29, 2020 | $0.010 | OrdinaryDividend |
Mar 30, 2020 | $0.007 | OrdinaryDividend |
Feb 27, 2020 | $0.026 | OrdinaryDividend |
Dec 27, 2019 | $0.050 | OrdinaryDividend |
Nov 27, 2019 | $0.036 | OrdinaryDividend |
Jul 30, 2019 | $0.001 | OrdinaryDividend |
May 30, 2019 | $0.012 | OrdinaryDividend |
Apr 29, 2019 | $0.016 | OrdinaryDividend |
Mar 28, 2019 | $0.030 | OrdinaryDividend |
Feb 27, 2019 | $0.038 | OrdinaryDividend |
Jan 30, 2019 | $0.030 | OrdinaryDividend |
Dec 27, 2018 | $0.029 | OrdinaryDividend |
Nov 29, 2018 | $0.004 | OrdinaryDividend |
Oct 30, 2018 | $0.025 | OrdinaryDividend |
Sep 27, 2018 | $0.046 | OrdinaryDividend |
Aug 30, 2018 | $0.050 | OrdinaryDividend |
Jul 30, 2018 | $0.039 | OrdinaryDividend |
Jun 28, 2018 | $0.045 | OrdinaryDividend |
May 30, 2018 | $0.017 | OrdinaryDividend |
Feb 27, 2018 | $0.005 | OrdinaryDividend |
Jan 30, 2018 | $0.037 | OrdinaryDividend |
Dec 27, 2017 | $0.055 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Mar 09, 2017
5.23
5.2%
After years of personal research while working with talented investors and “allocators” in the leveraged finance ecosystem, Michael founded Redwood in 2010 as a quantitative research based money management firm with a “RiskFirst™” mandate. The initial tactical fixed-income strategy, Defensive Credit, formed the quantitative research foundation that led to the launch of Redwood’s 5-Star Morningstar rated Mutual Fund, the Redwood Managed Risk Plus L.P. hedge fund, as well as the Multi-Sector Managed Risk, and Systematic Macro Trend (SMarT) strategies. Since then, Michael has expanded Redwood’s capabilities, with additions of talented professionals, to provide tactical and strategic beta investment solutions that include Redwood’s AlphaFactor® equity strategies, fixed-income, and alternatives, as well as Redwood’s Dynamic Risk-Budget Model asset allocation portfolios. Michael is responsible for overseeing the development, implementation, and live risk management of Redwood’s investment strategies. Prior to Redwood, Michael served as a Vice President for Riversource Investments, (now known as Columbia Management), worked in multiple roles at ING investment management, and began his career as an Analyst at UBS. He received his B.S in Finance from the University of Arizona in Tucson.
Start Date
Tenure
Tenure Rank
Mar 09, 2017
5.23
5.2%
Michael is a Portfolio Manager and Head of Quantitative Research at Redwood Investment Management. Michael works closely with the firm’s founder and President in overseeing the development, implementation, and live risk management of Redwood’s investment strategies. He leads the quantitative research effort including other members of the quantitative analyst team, and is responsible for proprietary investment model algorithm design and maintenance. Michael brings extensive experience working with a variety of programming languages and database structures, as well as broad knowledge of capital markets, global macro, and quantitative analysis, from his prior experience as a head trader on a proprietary equities trading desk. In addition, Michael was also formerly the head of a statistical arbitrage strategy that traded across multiple asset classes. He studied quantitative economics and mathematics at the University of California, Irvine.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 33.43 | 6.77 | 1.16 |
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...