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James Advantage Funds
1.800.99.JAMES (1-800-995-2637)

Long-Short (JAZZX)


NAV as of: 05/21/2018 $15.05 - Daily NAV change: +$0.12 (+0.80%)
Fund CharacteristicsAs 0f: 04/30/2018
TickerJAZZX
Inception Date05/23/2011
Cusip470259797
Total Net Assets as of 05/21/2018 ($mil)$20.85
Price/Earnings Ratio (12m trailing)15.68
Price/Book Ratio3.25
Dividend Yield2.04
Weighted Average Market Capitalization ($ mil)62,977.9
Median Market Capitalization ($ mil)21,435.1
Total Number of Equity Issues43
Portfolio Turnover Rate (annualized as of Fiscal Year-End 11/01/17)171.00%

Fund Operating Expenses: Prospectus 11/01/2017

Management Fee1.25%
Distribution (12b-1) Fee0.25%
Other Expenses0.05%
Acquired Fund Fees and Expenses(AFFE)0.02%
Dividend Expense on Securites sold short0.01%
Total Annual Fund Operating Expenses1.58%

Market Capitalization Equity HoldingsAs of: 04/30/2018

(Less than $250 mil )0.00%
($250 - $1,000 mil)0.00%
($1,000 - $4,000 mil)20.56%
($4,000 - $7,000 mil)7.71%
(Greater than $7,000 mil)71.74%
Total 100.00%

Risk Measures (3yr Trailing)As of: 04/30/2018

Beta0.73
R-Squared0.69
Standard Deviation9.04
Sharpe Ratio0.24

Capture Ratios (3yr Trailing)As of: 04/30/2018

Up CaptureDown CaptureOverall
vs. Benchmark Index47.75%86.34%55.30%

Top 5 Contributors to PerformanceAs of: 04/30/2018

HOLLYFRONTIER CORP
INCYTE CORP (short)
TESLA MOTORS INC (short)
BEST BUY INC
GRAND CANYON EDUCATION INC

Fund Income DataAs of: 04/30/2018

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Market Capitalization Equity HoldingsAs of: 04/30/2018

(Less than $250 mil ) 0.00%
($250 - $1,000 mil) 0.00%
($1,000 - $4,000 mil) 0.00%
($4,000 - $7,000 mil) 0.00%
(Greater than $7,000 mil) 100.00%
Total100.00%

Short CharacteristicsAs of: 04/30/2018

Total Number of Equity Issues 0.00
Fund CharacteristicsAs 0f: 03/31/2018
TickerJAZZX
Inception Date05/23/2011
Cusip470259797
Total Net Assets as of 05/21/2018 ($mil)$20.85
Price/Earnings Ratio (12m trailing)16.21
Price/Book Ratio3.42
Dividend Yield1.99
Weighted Average Market Capitalization ($ mil)73,758.7
Median Market Capitalization ($ mil)20,799.2
Total Number of Equity Issues44
Portfolio Turnover Rate (annualized as of Fiscal Year-End 11/01/17)171.00%

Fund Operating Expenses: Prospectus 11/01/2017

Management Fee1.25%
Distribution (12b-1) Fee0.25%
Other Expenses0.05%
Acquired Fund Fees and Expenses(AFFE)0.02%
Dividend Expense on Securites sold short0.01%
Total Annual Fund Operating Expenses1.58%

Market Capitalization Equity HoldingsAs of: 03/31/2018

(Less than $250 mil )0.00%
($250 - $1,000 mil)0.00%
($1,000 - $4,000 mil)20.69%
($4,000 - $7,000 mil)4.92%
(Greater than $7,000 mil)74.39%
Total 100.00%

Risk Measures (3yr Trailing)As of: 03/31/2018

Beta0.73
R-Squared0.67
Standard Deviation9.16
Sharpe Ratio0.19

Capture Ratios (3yr Trailing)As of: 03/31/2018

Up CaptureDown CaptureOverall
vs. Benchmark Index44.65%86.34%51.71%

Top 5 Contributors to PerformanceAs of: 03/31/2018

NORTHROP GRUMMAN CORP
WESTERN DIGITAL CORP
GRAND CANYON EDUCATION INC
AARON'S INC
CISCO SYSTEMS INC

Fund Income DataAs of: 03/31/2018

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Market Capitalization Equity HoldingsAs of: 03/31/2018

(Less than $250 mil ) 0.00%
($250 - $1,000 mil) 0.00%
($1,000 - $4,000 mil) 0.00%
($4,000 - $7,000 mil) 0.00%
(Greater than $7,000 mil) 100.00%
Total100.00%

Short CharacteristicsAs of: 03/31/2018

Total Number of Equity Issues 0.00

Asset AllocationAs of: 04/30/2018

Longs 84.35%
Cash 21.12%
Shorts -5.47%
Total 100.00%

Top Five Sector AllocationsAs of: 04/30/2018

Finance 16.69%
Technology 15.10%
Consumer Non-Cyclical 12.24%
Consumer Cyclical 12.10%
Basic Materials 9.54%
Total as % of Fund65.67%

Top Five Industry AllocationsAs of: 04/30/2018

Utilities-Electric 5.98%
Miscellaneous Service 4.32%
Banks-Multinational 4.32%
Chemicals-Diversified 4.13%
Retail-Special Lines 3.93%
Total as % of Fund22.69%
 

Top Ten Equity Holdings (% of Fund)As of: 04/30/2018

JPMorgan Chase & Co 4.32%
Celanese Corp 4.13%
Best Buy Co Inc 3.93%
Travelers Cos Inc/The 3.69%
Northrop Grumman Corp 3.34%
Avery Dennison Corp 3.23%
United Rentals Inc 3.12%
Deere & Co 2.97%
PNM Resources Inc 2.85%
Pfizer Inc 2.42%
Total as % of Fund34.00%

Region Exposure Top ThreeAs of: 04/30/2018

United States of America 96.40%
Netherlands 1.37%
Singapore 1.30%
Total as % of Fund99.06%

Bottom 5 Contributors to PerformanceAs of: 04/30/2018

MANPOWER INC
GOODYEAR TIRE & RUBBER CO
BIG LOTS INC
DEERE & COMPANY
UNITED RENTALS INC

Top Five Sector Allocations (Fixed) As of: 04/30/2018

Total as % of Fund0.00%

Top Five Industry Allocations (Fixed) As of: 04/30/2018

Total as % of Fund0.00%

Top Five Sector Allocations (Shorts Only) As of: 04/30/2018

Technology -1.82%
Industrial -1.31%
Mutual Funds -1.18%
Consumer Non-Cyclical -1.16%
Energy -0.00%
Total as % of Fund-5.47%

Top Five Industry Allocations (Shorts Only) As of: 04/30/2018

Transptn-Misc -1.31%
Index Funds -1.18%
Food-Processing -1.16%
Information Processing-Software & Services -1.16%
Medical-Biotechnology -0.66%
Total as % of Fund-5.47%

Asset AllocationAs of: 03/31/2018

Longs 84.30%
Cash 21.07%
Shorts -5.36%
Total 100.00%

Top Five Sector AllocationsAs of: 03/31/2018

Technology 16.87%
Finance 16.38%
Consumer Non-Cyclical 12.05%
Consumer Cyclical 11.58%
Industrial 9.55%
Total as % of Fund66.43%

Top Five Industry AllocationsAs of: 03/31/2018

Utilities-Electric 5.60%
Miscellaneous Service 4.65%
Banks-Multinational 4.21%
Insurance-Property & Casualty 3.76%
Chemicals-Diversified 3.68%
Total as % of Fund21.90%
 

Top Ten Equity Holdings (% of Fund)As of: 03/31/2018

JPMorgan Chase & Co 4.21%
Travelers Cos Inc/The 3.76%
Celanese Corp 3.68%
Northrop Grumman Corp 3.50%
Best Buy Co Inc 3.47%
United Rentals Inc 3.46%
Deere & Co 3.29%
Avery Dennison Corp 3.16%
ManpowerGroup Inc 2.73%
PNM Resources Inc 2.65%
Total as % of Fund33.92%

Region Exposure Top ThreeAs of: 03/31/2018

United States of America 96.48%
Singapore 1.37%
Netherlands 1.20%
Total as % of Fund99.06%

Bottom 5 Contributors to PerformanceAs of: 03/31/2018

BIG LOTS INC
GOODYEAR TIRE & RUBBER CO
MERITAGE HOMES CORP
SANDERSON FARMS INC
DIAMOND OFFSHORE DRILLING INC

Top Five Sector Allocations (Fixed) As of: 03/31/2018

Total as % of Fund0.00%

Top Five Industry Allocations (Fixed) As of: 03/31/2018

Total as % of Fund0.00%

Top Five Sector Allocations (Shorts Only) As of: 03/31/2018

Technology -1.94%
Consumer Non-Cyclical -1.15%
Industrial -1.14%
Mutual Funds -1.13%
Energy -0.00%
Total as % of Fund-5.36%

Top Five Industry Allocations (Shorts Only) As of: 03/31/2018

Food-Processing -1.15%
Transptn-Misc -1.14%
Index Funds -1.13%
Information Processing-Software & Services -1.07%
Medical-Biotechnology -0.86%
Total as % of Fund-5.36%

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You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Fund before investing. The Fund's prospectus contains this and other information about the Fund, and should be read carefully before investing. You may obtain a current copy of the Fund's prospectus by calling 1-800-995-2637 or click here to view or download a prospectus online.

Mid, Small and Micro Cap investing involve greater risk not associated with investing in more established companies, such as greater price volatility, business risk, less liquidity and increased competitive threat. Fund holdings and sector weightings are subject to change without notice. Past performance is no guarantee of future results.
© 2018 James Advantage Funds

James Advantage Funds are offered only to US citizens and residents and any information on the website is intended solely for that purpose. Nothing on this web site should be considered a solicitation to buy or an offer to sell any James funds in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction. For international investors please see Institutional.

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