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 09/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
5.3%
1 yr return
10.6%
3 Yr Avg Return
2.0%
5 Yr Avg Return
4.1%
Net Assets
$134 M
Holdings in Top 10
99.8%
Expense Ratio 1.19%
Front Load N/A
Deferred Load N/A
Turnover 337.00%
Redemption Fee N/A
Standard (Taxable)
$100,000
IRA
N/A
Fund Type
Open End Mutual Fund
Name
As of 09/27/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund is a “fund of funds.” The term “fund of funds” is typically used to describe mutual funds, such as the Fund, whose primary investment strategy involves investing in other investment companies, such as exchange traded funds (“ETFs”) and other mutual funds (e.g. open-end and closed-end mutual funds).
To achieve its investment objective, the Fund will generally invest in a combination of (i) U.S. high-yield debt securities (commonly known as “junk” bonds, and referred to herein as “High-Yield Securities”) and (ii) U.S. investment grade debt securities and U.S. Treasury debt obligations (collectively, “Investment Grade Securities”). Debt securities are also known as fixed-income securities. The Fund defines High-Yield Securities as those rated lower than Baa by Moody’s Investors Service, Inc. (“Moody’s”) or lower than BBB by S&P Global Ratings (“S&P”) or Fitch Ratings, Inc. (“Fitch”) and defines Investment Grade Securities as those rated Baa or better by Moody’s or BBB or better by S&P or Fitch or, if securities are unrated, as determined by the Wilbanks, Smith & Thomas Asset Management, LLC, d/b/a WST Capital Management (the “Advisor”) to be of similar credit quality. Although the Fund may invest directly in debt securities, it will primarily invest in such securities indirectly through ETFs, open-end and closed-end mutual funds, and/or baskets of securities (i.e. pre-selected groups of securities that are related by index or sector and made available through certain brokers at a discounted brokerage rate) that each invest primarily in debt securities.
The Advisor allocates assets between High-Yield Securities and Investment Grade Securities using a proprietary quantitative model, its “Credit Select Risk-Managed Strategy.” This strategy employs a combination of short-, intermediate- and long-term trend-following techniques to identify periods of favorable or unfavorable market conditions for High-Yield Securities. In allocating portfolio investments between
High-Yield Securities and Investment Grade Securities, the Advisor may consider multiple factors, including those related to credit, duration, Federal Reserve policy and the Advisor’s expectations for the future course of interest rates and the then-prevailing price and yield levels in the debt market. Normally, the investment universe for the Credit Select Risk-Managed Strategy is comprised of approximately 10 to 20 ETFs that invest in High-Yield Securities and 5 to 10 ETFs that invest in Investment Grade Securities that are selected by the Advisor. The Advisor selects securities for their potential for interest income, capital appreciation, or both. The Fund invests without restriction as to issuer credit quality, capitalization or security maturity.
Under normal circumstances, at least 80% of the Fund’s net assets (including the amount of any borrowings for investment purposes) will be invested directly or indirectly in U.S. bonds. The Fund shareholders will be provided with at least 60 days’ prior notice of any change to the foregoing policy.
The Fund’s investment allocations, determined by the Credit Select Risk-Managed Strategy, may change frequently and as a result, the Fund expects to engage in frequent portfolio transactions that will likely result in higher portfolio turnover than other mutual funds. Portfolio turnover is a ratio that indicates how often the securities in a mutual fund’s portfolio change during the year. A higher portfolio turnover rate indicates a greater number of changes. Under normal circumstances, the anticipated portfolio turnover rate for the Fund is expected to be significantly greater than 100%.
Period | WAMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.3% | -7.8% | 14.1% | 74.16% |
1 Yr | 10.6% | -4.9% | 27.7% | 68.50% |
3 Yr | 2.0%* | -16.8% | 17.2% | 35.64% |
5 Yr | 4.1%* | -14.0% | 14.0% | 12.27% |
10 Yr | N/A* | -6.9% | 7.0% | N/A |
* Annualized
Period | WAMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.8% | -12.0% | 15.7% | 77.44% |
2022 | -3.9% | -31.8% | 18.4% | 4.38% |
2021 | -0.3% | -26.6% | 25.7% | 26.66% |
2020 | 8.3% | -49.2% | 18.7% | 1.75% |
2019 | 1.3% | -35.1% | 15.3% | 84.66% |
Period | WAMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.3% | -7.8% | 14.1% | 74.16% |
1 Yr | 10.6% | -4.9% | 27.7% | 68.50% |
3 Yr | 2.0%* | -16.8% | 17.2% | 35.64% |
5 Yr | 4.1%* | -14.0% | 14.0% | 12.27% |
10 Yr | N/A* | -6.9% | 7.0% | N/A |
* Annualized
Period | WAMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 6.0% | -7.0% | 22.2% | 80.18% |
2022 | -2.3% | -31.8% | 21.1% | 12.50% |
2021 | -0.3% | -13.5% | 49.9% | 81.58% |
2020 | 10.9% | -28.6% | 24.1% | 6.32% |
2019 | 5.8% | -4.8% | 19.1% | 79.17% |
WAMIX | Category Low | Category High | WAMIX % Rank | |
---|---|---|---|---|
Net Assets | 134 M | 2.53 M | 143 B | 79.72% |
Number of Holdings | 7 | 4 | 9195 | 96.31% |
Net Assets in Top 10 | 146 M | -204 M | 80.4 B | 53.08% |
Weighting of Top 10 | 99.80% | 6.2% | 209.5% | 4.50% |
Weighting | Return Low | Return High | WAMIX % Rank | |
---|---|---|---|---|
Stocks | 68.88% | -4.92% | 99.64% | 8.15% |
Cash | 31.12% | -94.66% | 91.07% | 4.31% |
Convertible Bonds | 1.03% | 0.00% | 33.50% | 53.71% |
Preferred Stocks | 0.00% | 0.00% | 26.42% | 68.00% |
Other | 0.00% | -73.61% | 112.16% | 81.08% |
Bonds | 0.00% | 0.00% | 192.97% | 95.08% |
Weighting | Return Low | Return High | WAMIX % Rank | |
---|---|---|---|---|
Energy | 62.12% | 0.00% | 100.00% | 24.65% |
Basic Materials | 13.55% | 0.00% | 100.00% | 7.08% |
Industrials | 6.05% | 0.00% | 100.00% | 33.71% |
Real Estate | 5.37% | 0.00% | 100.00% | 23.51% |
Communication Services | 4.29% | 0.00% | 100.00% | 30.59% |
Technology | 3.27% | 0.00% | 28.30% | 27.48% |
Consumer Cyclical | 1.99% | 0.00% | 89.95% | 37.11% |
Financial Services | 1.53% | 0.00% | 100.00% | 54.39% |
Healthcare | 1.18% | 0.00% | 18.60% | 28.05% |
Utilities | 0.65% | 0.00% | 100.00% | 40.23% |
Consumer Defense | 0.00% | 0.00% | 99.97% | 67.14% |
Weighting | Return Low | Return High | WAMIX % Rank | |
---|---|---|---|---|
US | 68.88% | -4.84% | 99.64% | 8.15% |
Non US | 0.00% | -0.26% | 17.73% | 57.54% |
WAMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.19% | 0.03% | 20.67% | 48.93% |
Management Fee | 0.60% | 0.00% | 2.29% | 51.91% |
12b-1 Fee | N/A | 0.00% | 1.00% | 7.43% |
Administrative Fee | N/A | 0.00% | 0.70% | N/A |
WAMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 1.50% | N/A |
WAMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.50% | 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.
WAMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 337.00% | 0.00% | 632.00% | 96.66% |
WAMIX | Category Low | Category High | WAMIX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.46% | 0.00% | 23.30% | 46.19% |
WAMIX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | SemiAnnual | Monthly | Quarterly |
WAMIX | Category Low | Category High | WAMIX % Rank | |
---|---|---|---|---|
Net Income Ratio | 2.99% | -1.55% | 11.51% | 47.81% |
WAMIX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Sep 20, 2024 | $0.153 | OrdinaryDividend |
Jun 27, 2024 | $0.149 | OrdinaryDividend |
Mar 28, 2024 | $0.105 | OrdinaryDividend |
Dec 28, 2023 | $0.169 | OrdinaryDividend |
Sep 28, 2023 | $0.154 | OrdinaryDividend |
Jun 29, 2023 | $0.105 | OrdinaryDividend |
Mar 30, 2023 | $0.091 | OrdinaryDividend |
Dec 29, 2022 | $0.129 | OrdinaryDividend |
Sep 29, 2022 | $0.044 | OrdinaryDividend |
Dec 30, 2020 | $0.258 | OrdinaryDividend |
Dec 30, 2019 | $0.037 | OrdinaryDividend |
Dec 13, 2019 | $0.397 | OrdinaryDividend |
Dec 14, 2018 | $0.374 | OrdinaryDividend |
Dec 15, 2017 | $0.275 | CapitalGainShortTerm |
Dec 15, 2017 | $0.002 | CapitalGainLongTerm |
Dec 15, 2017 | $0.372 | OrdinaryDividend |
Dec 15, 2016 | $0.338 | OrdinaryDividend |
Dec 31, 2015 | $0.007 | OrdinaryDividend |
Jun 30, 2015 | $0.089 | OrdinaryDividend |
Mar 31, 2015 | $0.060 | OrdinaryDividend |
Dec 31, 2014 | $0.001 | CapitalGainShortTerm |
Dec 31, 2014 | $0.019 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Sep 30, 2014
7.67
7.7%
Roger Scheffel is a Principal, Portfolio Manager and member of the firm’s Investment Committee. He also serves as Chief Investment Officer for WST Capital Management, the firm’s in-house ETF strategist. Before joining WST in 2009, Roger held relationship and portfolio management responsibilities at a global wealth management and investment banking firm. Prior to entering the financial services industry, he was a Senior Manager in Ernst & Young’s Private Client Services division. A native of Texas, Roger graduated from St. Mary’s University with a Bachelor of Business Administration in Accounting. He is a member of the American Institute of CPA’s and the Personal Financial Planning Section and holds the Personal Financial Specialist credential. Roger has taught Portfolio Management to MBA candidates as an adjunct professor at a local university
Start Date
Tenure
Tenure Rank
Sep 30, 2014
7.67
7.7%
Tom McNally, CMT, CFA has served as a Senior Trader of the Wilbanks, Smith & Thomas Asset Management, LLC since 2006. Since 2009, Mr. McNally has also served as the co-portfolio manager for the Wilbanks, Smith & Thomas Asset Management, LLC's WST Asset Manager Strategies. Mr. McNally is a member of the Wilbanks, Smith & Thomas Asset Management, LLC's Investment Committee and oversees trading operations. Previously, Mr. McNally was a Portfolio Manager and Senior Analyst at a regional investment advisory firm.
Start Date
Tenure
Tenure Rank
Sep 30, 2014
7.67
7.7%
Wayne Wilbanks, a co-founder of WST, serves as the firm’s Managing Principal and Chief Investment Officer and chairs the firm’s Investment Committee. Prior to the establishment of WST in 1990, Wayne co-founded a regional investment advisory firm where he served as Senior Portfolio Manager and Director of Research. Wayne brings to bear over 35 years of investment experience and extensive training across asset classes and investment styles. He is a regular guest on CNBC, Bloomberg Financial News, and Bloomberg Radio, and is quoted often in publications including Bloomberg News, The Wall Street Journal, and The Virginian Pilot. Wayne, a North Carolina native, graduated from Duke University with a degree in Economics, and he subsequently undertook study through Georgetown University’s Program of Comparative Business at Oxford University in England. He holds the Chartered Financial Analyst designation and is a member of CFA Society Virginia.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 28.19 | 5.73 | 3.19 |
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