Innovative Preferred Plus I
Fund
IPPPX
Price as of:
$11.05
- $0.09
- 0.76%
Primary Theme
fund company
share class
Name
Price
Aum/Mkt Cap
YIELD & DIV
Exp Ratio
Watchlist
Vitals
YTD Return
-8.3%
1 yr return
2.9%
3 Yr Avg Return
7.4%
5 Yr Avg Return
N/A
Net Assets
$12.9 M
Holdings in Top 10
18.7%
52 WEEK LOW AND HIGH
$11.1
$11.05
$12.35
Expenses
OPERATING FEES
Expense Ratio 1.55%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 26.75%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
$5,000
Fund Classification
Fund Type
Open End Mutual Fund
Investment Style
Preferred Stock
Name
Price
Aum/Mkt Cap
YIELD & DIV
Exp Ratio
Watchlist
IPPPX - Profile
Distributions
- YTD Total Return -8.3%
- 3 Yr Annualized Total Return 7.4%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency Semi-Monthly
- Net Income Ratio 3.31%
- Dividend Yield 1.7%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameInnovative Preferred Plus Fund
-
Fund Family NameInnovative
-
Inception DateDec 24, 2018
-
Shares OutstandingN/A
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
Fund Description
The fund's investment strategy is two-fold: (1) preferred securities: the fund pursues its objective by investing in issues of preferred securities and debt securities that the Adviser believes to be undervalued, and (2) credit spread options on the S&P 500 Index: the fund may expose up to 10% of its assets to a credit spread options strategy however market conditions may dictate additional exposure. It seeks to achieve a credit spread on the S&P 500 Index by selling/writing an out-of-the-money short put option each month while simultaneously purchasing an out-of-the-money long put option below the short option position.
IPPPX - Performance
Return Ranking - Trailing
| Period | IPPPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -8.3% | -20.3% | -0.6% | 22.73% |
| 1 Yr | 2.9% | -10.8% | 2.9% | 1.22% |
| 3 Yr | 7.4%* | -2.2% | 13.5% | 2.56% |
| 5 Yr | N/A* | -0.3% | 12.6% | N/A |
| 10 Yr | N/A* | 4.1% | 8.6% | N/A |
* Annualized
Return Ranking - Calendar
| Period | IPPPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2021 | 0.9% | -3.4% | 17.2% | 29.11% |
| 2020 | 4.8% | -79.5% | 9.0% | 2.60% |
| 2019 | 13.7% | 6.4% | 28.5% | 22.97% |
| 2018 | N/A | -15.2% | -3.8% | N/A |
| 2017 | N/A | -7.3% | 19.0% | N/A |
Total Return Ranking - Trailing
| Period | IPPPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -8.3% | -20.3% | -0.6% | 7.95% |
| 1 Yr | 2.9% | -12.2% | 16.6% | 14.14% |
| 3 Yr | 7.4%* | -3.2% | 13.5% | 6.67% |
| 5 Yr | N/A* | -1.9% | 12.6% | N/A |
| 10 Yr | N/A* | 4.1% | 8.6% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | IPPPX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2021 | 0.9% | -3.4% | 17.2% | 29.11% |
| 2020 | 4.8% | -24.8% | 9.0% | 2.60% |
| 2019 | 13.7% | 6.4% | 28.5% | 22.97% |
| 2018 | N/A | -14.9% | -1.8% | N/A |
| 2017 | N/A | -5.0% | 20.6% | N/A |
NAV & Total Return History
IPPPX - Holdings
Concentration Analysis
| IPPPX | Category Low | Category High | IPPPX % Rank | |
|---|---|---|---|---|
| Net Assets | 12.9 M | 12.9 M | 16.4 B | 100.00% |
| Number of Holdings | 99 | 27 | 500 | 73.53% |
| Net Assets in Top 10 | 2.68 M | 2.06 K | 2.37 B | 85.29% |
| Weighting of Top 10 | 18.71% | 12.4% | 48.5% | 55.88% |
Top 10 Holdings
- Fifth Third Bancorp 4.9% 3.65%
- Prudential Financial, Inc. 2.41%
- Bank of America Corporation 5.875% 2.33%
- State Street Corporation Deposit Shs Repr 1/4000th Non Cum Perp Pfd Shs Ser 2.18%
- AerCap Holdings N.V. 5.875% 2.17%
- MetLife Inc Series F 1.96%
- General Electric Company 5% 1.96%
- Regions Financial Corporation 5.75% 1.91%
- ATHENE HOLDINGS LTD. SERIES A 6.350%, TO 6/30/2029 (BERMUDA) 1.86%
- Huntington Bancshares Incorporated 4.45% 1.83%
Asset Allocation
| Weighting | Return Low | Return High | IPPPX % Rank | |
|---|---|---|---|---|
| Preferred Stocks | 57.50% | 2.27% | 115.85% | 39.22% |
| Bonds | 36.46% | 0.00% | 83.26% | 56.86% |
| Cash | 4.74% | -27.79% | 5.28% | 1.96% |
| Convertible Bonds | 0.87% | 0.00% | 31.65% | 61.76% |
| Stocks | 0.44% | -2.67% | 34.04% | 23.53% |
| Other | 0.00% | -0.16% | 11.21% | 34.31% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | IPPPX % Rank | |
|---|---|---|---|---|
| Utilities | 100.00% | 0.00% | 100.00% | 8.33% |
| Technology | 0.00% | 0.00% | 0.00% | 16.67% |
| Real Estate | 0.00% | 0.00% | 100.00% | 36.11% |
| Industrials | 0.00% | 0.00% | 7.56% | 44.44% |
| Healthcare | 0.00% | 0.00% | 4.02% | 41.67% |
| Financial Services | 0.00% | 0.00% | 100.00% | 33.33% |
| Energy | 0.00% | 0.00% | 14.14% | 27.78% |
| Communication Services | 0.00% | 0.00% | 1.77% | 27.78% |
| Consumer Defense | 0.00% | 0.00% | 0.00% | 16.67% |
| Consumer Cyclical | 0.00% | 0.00% | 0.00% | 16.67% |
| Basic Materials | 0.00% | 0.00% | 0.00% | 16.67% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | IPPPX % Rank | |
|---|---|---|---|---|
| US | 0.44% | -2.67% | 34.04% | 22.55% |
| Non US | 0.00% | 0.00% | 2.17% | 23.53% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | IPPPX % Rank | |
|---|---|---|---|---|
| Corporate | 95.19% | 62.31% | 100.00% | 87.25% |
| Cash & Equivalents | 4.75% | 0.00% | 8.83% | 8.82% |
| Government | 0.06% | 0.00% | 21.71% | 48.04% |
| Derivative | 0.00% | 0.00% | 12.03% | 27.45% |
| Securitized | 0.00% | 0.00% | 0.02% | 14.71% |
| Municipal | 0.00% | 0.00% | 0.00% | 13.73% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | IPPPX % Rank | |
|---|---|---|---|---|
| US | 34.25% | 0.00% | 66.52% | 41.18% |
| Non US | 2.21% | 0.00% | 22.86% | 59.80% |
IPPPX - Expenses
Operational Fees
| IPPPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.55% | 0.22% | 2.45% | 25.24% |
| Management Fee | 1.00% | 0.00% | 1.00% | 91.95% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 2.78% |
| Administrative Fee | N/A | 0.01% | 0.55% | N/A |
Sales Fees
| IPPPX 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% | 2.25% | N/A |
Trading Fees
| IPPPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | N/A | N/A | 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.
| IPPPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 26.75% | 12.00% | 199.00% | 48.00% |
IPPPX - Distributions
Dividend Yield Analysis
| IPPPX | Category Low | Category High | IPPPX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.74% | 0.00% | 7.59% | 83.81% |
Dividend Distribution Analysis
| IPPPX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| IPPPX | Category Low | Category High | IPPPX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.31% | 0.88% | 7.54% | 69.51% |
Capital Gain Distribution Analysis
| IPPPX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Semi-Monthly | Annually | Annually | Annually |
Dividend Payout History
| Date | Amount | Type |
|---|---|---|
| Dec 30, 2020 | $0.098 | OrdinaryDividend |
| Sep 29, 2020 | $0.106 | OrdinaryDividend |
| Jun 29, 2020 | $0.111 | OrdinaryDividend |
| Mar 30, 2020 | $0.099 | OrdinaryDividend |
| Dec 30, 2019 | $0.116 | OrdinaryDividend |
| Sep 30, 2019 | $0.166 | OrdinaryDividend |
| Jun 28, 2019 | $0.020 | OrdinaryDividend |