CM Advisors Fixed Income Fund

Fund Overview

Daily Price
as of
06/21/2017

 Price($)(%)
CMFIX$11.55$0.000.00%

Fund Facts
as of 3/31/2017 (subject to change)

Ticker  CMFIX
AUM $67.11 Million
# of Holdings 52
Inception Date 3/24/2006
Min. Initial Investment $2,500 ($1,000 for tax-deferred and tax-exempt accounts, including IRA accounts, and $100 for automatic investment plan)
Advisor CM Fund Advisors
CMFIX 5 star340

Overview

While most fixed income funds focus on a security's income potential when building a portfolio, the CM Advisors Fixed Income Fund selects securities which the managers believe have significant appreciation potential. We believe this results in a portfolio which can maximize total return for investors.

Investment Style

Short-Term Bond

Fund Objective

Preserve capital and maximize total return

Investment Strategy

To meet its investment objective, the Fund primarily seeks to purchase U.S. dollar denominated fixed income securities that the Fund believes are undervalued. While the Fund may invest in all types of fixed income securities, the primary focus is on corporate bonds and U.S. Treasury securities. This Fund has no load and no 12b-1 fees.

CMFIX Morningstar Risk-Adjusted Returns as of March 31, 2017

Category  Overall Rating 3 Year  5 Year  10 Year 
Short-Term Bond 5Stars 5Stars 4Stars 5Stars
  (of 444 funds) (of 444 funds) (of 359 funds)  (of 257 funds)

 

 

Performance

Performance

Quarterly Cumulative

 

Cumulative
Total Returns (%) as of
03/31/17
Quarter YTD 1YR 3YR 5YR 10YR Since
Inception 1

 

CM Advisors Fixed Income Fund21.181.186.047.5710.2659.3772.36
Bloomberg Barclays U.S. Aggregate Index30.820.820.448.2712.2551.9760.81

Quarterly Annualized

 

Average Annualized
Total Returns (%) as of
03/31/17
Quarter YTD 1YR 3YR 5YR 10YR Since
Inception 1

 

CM Advisors Fixed Income Fund21.181.186.042.461.974.775.06
Bloomberg Barclays U.S. Aggregate Index30.820.820.442.682.344.274.41

Monthly Annualized

 

Monthly
Total Returns (%) as of
05/31/17
1 Month YTD 1YR 3YR 5YR 10YR Since
Inception 1

 

CM Advisors Fixed Income Fund20.261.715.552.351.905.015.04
Bloomberg Barclays U.S. Aggregate Index30.772.381.582.532.244.464.48
  1. Inception date for CM Advisors Fixed Income Fund is March 24, 2006
  2. Gross expense ratio for CM Advisors Fixed Income Fund is 0.81%
  3. The Bloomberg Barclays Capital U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset backed securities, collateralized mortgage backed securities, and a small amount of foreign bonds traded in the U.S.. The Bloomberg Barclays Capital U.S. Aggregate Bond Index is a market capitalization-weighted index, meaning that securities in the index are weighted according to the market size of each bond type. Bonds included in this index have at least one year until final maturity.  It is not possible to invest directly in the index.

Performance data quoted represents past performance. Past performance does not guarantee future results. All performance assumes reinvestment of dividends and capital gains. The investment return and principal value of an investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

The performance information above does not reflect the imposition of the redemption fee.  For performance information current to the most recen month end, call Shareholder Services at 1-888-859-5856.

 

Risk

Risk

Performance in Down Quarters
as of 3/31/2017 (subject to change)

Quarter End CMFIX (%) Bloomberg Barclays US Aggregate Bond Index (%) Spread (%)
12/31/2015 -1.54 -0.57 -0.97
9/30/2015 -0.19 1.23 -1.42
6/30/2015 -0.3 -1.68 1.38
9/30/2014 -0.22 0.17 -0.39
12/31/2013 0.16 -0.14 0.3
6/30/2013 -1.09 -2.33 1.24
3/31/2013 0.41 -0.13 0.54
12/31/2012 -0.24 0.22 -0.46
6/30/2012 0.75 2.06 -1.31
12/31/2010 -1.04 -1.3 0.26
12/31/2009 0.18 0.2 -0.02
3/31/2009 0.21 0.12 0.09
9/30/2008 -1.24 -0.49 -0.75
6/30/2008 -0.59 -1.02 0.43
6/30/2007 -2.8 -0.52 -2.28
3/31/2007 -0.19 1.5 -1.69
6/30/2006 0.1 -0.08 0.18

Upside / Downside Capture 
as of 3/31/2017 (subject to change)

Date Up Down
Since Inception  N/A  N/A 
One Year ↑129.70 ↓26.70
Three year ↑58.56 ↓24.36
Five year ↑55.85 ↓31.55

Upside and Downside Capture Ratios show you whether a given fund has outperformed--gained more or lost less than a broad market benchmark during periods of market strength and weakness, and if so, by how much. Upside capture ratios for funds are calculated by taking the fund’s monthly return during months when the benchmark had a positive return and dividing it by the benchmark return during that same month. Downside capture ratios are calculated by taking the fund’s monthly return during the periods of negative benchmark performance and dividing it by the benchmark return.

10 Year Standard Deviation

Standard Deviation
as of 3/31/2017 (subject to change)

Standard deviation is a statistical measure in which a composite's total return has varied over time. The greater the standard deviation, the greater a composite's volatility. Conversely, the lower the standard deviation the lower the composite's volatility.

  3 Years 5 Years 10 Years Since Inception  
CM Advisors Fixed Income Fund 2.04 1.79 4.65 5.29  
Bloomberg Barclays US Aggregate Bond 2.90 2.86 3.28 3.22  
Bloomberg Barclays US Aggregate Gov't/Credit 3.55 3.81 4.20 4.09  

 

 

Composition

Composition

Top 10 Holdings
as of 3/31/2017 (subject to change)

Holdings Fund (%)     
Cash Equivalent 21.58    
U.S. Treasury Note 2.75% due 11/15/23 9.64    
U.S. Treasury Note 2.375% due 12/31/20 9.53    
U.S. Treasury Note 2% due 07/31/20 9.05    
U.S. Treasury Note 0.75% due 12/31/17 7.43    
Great Lakes Dredge & Dock Corp. 7.375% due 02/01/19 2.54    
Alcoa Inc 5.87% due 02/23/22 1.92    
Allegheny Technologies Inc 9.375% due 06/01/19 1.67    
ONEOK Partners LP 2% due 10/01/17 1.58    
Devon Energy Corp. 6.3% due 01/15/19 1.54    

 

 

Sector Breakdown
as of 3/31/17 (subject to change)

Sector Fund
Cash 21.58
US Gov't Obligations 36.42
Energy 8.10
Basic Materials 9.43
Industrials 5.49
Consumer Cyclical 5.53
Con sumer Staples 0.47
Healthcare 2.13
Financials 4.96
Technology 5.00
Utilities 0.88

 

 

Fund Characteristics
as of 3/31/2017 (subject to change)

Characteristic Value
Average Yield-to-Maturity 2.43%
Average Maturity (yrs) 3.12
Average Coupon 4.13%
Average Duration (yrs) 2.79
30-day SEC Yield 1.63%
30-day SEC Yield (w/o waivers) 1.63%
Number of Issues 52

What do these terms mean?
(roll over any term for a brief explanation)

 

Distributions

Distributions

2017

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
 3/30/2017  0.0849      11.49
         
         
         

2010 - 2016 (Click Any Year to View)

2010

2010 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
03/31/2010 $0.0800     $11.06 
06/30/2010 $0.0775      $11.46 
09/30/2010 $0.0550      $11.69 
12/31/2010 $0.0450  $0.1030   $11.42 

 

2011

2011 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
03/31/2011 $0.0540     11.45 
06/30/2011 $0.0560      11.55 
09/30/2011 $0.0500      11.84 
12/30/2011 $0.0461  $0.2595  $0.0269 11.62 

 

2012

2012 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
03/30/2012 $0.0450     11.67 
06/29/2012 $0.0475      11.71 
09/28/2012 $0.0375      11.81 
12/31/2012 $0.0415  $0.0104  $0.1303  11.60 

 

2013

2013 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
03/28/2013 $0.0370     $11.61 
06/28/2013 $0.0340      $11.45 
09/30/2013 $0.0320      $11.48 
12/31/2013 $0.0348     $0.0037 $11.46 

 

2014

2014 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
03/31/2014 $0.0390     $11.51 
06/30/2014 $0.0358     $11.57 
09/30/2014 $0.0350      $11.51 
12/31/2014 $0.0381   $0.0542 $11.44

 

2015

2015 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
03/30/2015 $0.0375     $11.48
06/29/2015 $0.0350     $11.41 
09/29/2015 $0.0382      $11.35 
12/302015 $0.0764   $0.0184 $11.08

 

2016

2016 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
03/30/2016 $0.0951     $11.48
06/30/2016 $0.0945     $11.38 
09/30/2016 $0.0896      $11.57 
12/30/2016 $0.0878  0.0154 $0.0185 $11.44

 

Literature

Literature

Factsheets

 

Reports

For Retirement Accounts

Fund Information by Share Class

Class I Shares

The Bloomberg Barclays Capital U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar denominated, fixed-rate taxable bond market, including Treasuries, government-related and corporate securities, mortgage backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset backed securities, collateralized mortgage backed securities, and a small amount of foreign bonds traded in the U.S.. The Bloomberg Barclays Capital U.S. Aggregate Bond Index is a market capitalization-weighted index, meaning that securities in the index are weighted according to the market size of each bond type. Bonds included in this index have at least one year until final maturity. It is not possible to invest directly in the index.

The Bloomberg Barclays 1-3 Year Government/Credit Index is an index consisting of Treasury or government agency securities and investment grade corporate debt securities with maturities of one to three years. It is not possible to invest directly in the index.

Investment in the Fund is subject to investment risks, including, without limitation, market risk, interest rate risk, management style risk, business and sector risk, small company risk, non-diversified fund risk, foreign securities risk, bond interest rate risk and credit risk. For more information about the Fund, including the Fund's objectives, charges, expenses and risks (including more information about the risks listed above), please read the prospectus.

Performance data quoted represents past performance. Past performance does not guarantee future results. All performance assumes investment of dividends and capital gains. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For performance information current to the most recent month end, call 1-888-859-5856. While Fund performance is compared to an index, it is not possible to invest in an index.

The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% threeyear rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past performance is no guarantee of future results.

An investor should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available by calling 1-800-664-4888 or writing the advisor at 805 Las Cimas Parkway, Suite 430, Austin, Texas 78746. You may also call the Fund directly at 1-888-859-5856. The prospectus should be read carefully before investing.

The information presented on this page is not an offer to sell or a solicitation of an offer to purchase the Fund.

Distributor: Ultimus Fund Distributors, LLC. 225 Pictoria Drive, Suite 450, Cincinnati, Ohio 45246. Phone number 1-888-859-5856.