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

Long-Short (JAZZX)


NAV as of: 10/23/2017 $14.91 - Daily NAV change: $-0.01 (-0.07%)
Fund CharacteristicsAs 0f: 09/30/2017
TickerJAZZX
Inception Date05/23/2011
Cusip470259797
Total Net Assets as of 10/23/2017 ($mil)$21.65
Price/Earnings Ratio (12m trailing)16.58
Price/Book Ratio4.77
Dividend Yield1.88
Weighted Average Market Capitalization ($ mil)61,460.6
Median Market Capitalization ($ mil)21,430.1
Total Number of Equity Issues42
Portfolio Turnover Rate (annualized as of Fiscal Year-End 11/01/16)171.00%

Fund Operating Expenses: Prospectus 11/01/2016

Management Fee1.25%
Distribution (12b-1) Fee0.25%
Other Expenses0.75%
Acquired Fund Fees and Expenses(AFFE)0.03%
Dividend Expense on Securites sold short0.25%
Total Annual Fund Operating Expenses2.53%

Market Capitalization Equity HoldingsAs of: 09/30/2017

(Less than $250 mil )0.00%
($250 - $1,000 mil)0.00%
($1,000 - $4,000 mil)20.19%
($4,000 - $7,000 mil)7.01%
(Greater than $7,000 mil)72.80%
Total 100.00%

Risk Measures (3yr Trailing)As of: 09/30/2017

Beta0.69
R-Squared0.65
Standard Deviation8.58
Sharpe Ratio0.27

Capture Ratios (3yr Trailing)As of: 09/30/2017

Up CaptureDown CaptureOverall
vs. Benchmark Index41.61%77.11%53.96%

Top 5 Contributors to PerformanceAs of: 09/30/2017

SANDERSON FARMS INC
UNITED RENTALS INC
NORTHROP GRUMMAN CORP
CELANESE CORP-SERIES A
AVERY DENNISON CORP

Fund Income DataAs of: 09/30/2017

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Market Capitalization Equity HoldingsAs of: 09/30/2017

(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: 09/30/2017

Total Number of Equity Issues 0.00
Fund CharacteristicsAs 0f: 09/30/2017
TickerJAZZX
Inception Date05/23/2011
Cusip470259797
Total Net Assets as of 10/23/2017 ($mil)$21.65
Price/Earnings Ratio (12m trailing)16.58
Price/Book Ratio4.77
Dividend Yield1.88
Weighted Average Market Capitalization ($ mil)61,460.6
Median Market Capitalization ($ mil)21,430.1
Total Number of Equity Issues42
Portfolio Turnover Rate (annualized as of Fiscal Year-End 11/01/16)171.00%

Fund Operating Expenses: Prospectus 11/01/2016

Management Fee1.25%
Distribution (12b-1) Fee0.25%
Other Expenses0.75%
Acquired Fund Fees and Expenses(AFFE)0.03%
Dividend Expense on Securites sold short0.25%
Total Annual Fund Operating Expenses2.53%

Market Capitalization Equity HoldingsAs of: 09/30/2017

(Less than $250 mil )0.00%
($250 - $1,000 mil)0.00%
($1,000 - $4,000 mil)20.19%
($4,000 - $7,000 mil)7.01%
(Greater than $7,000 mil)72.80%
Total 100.00%

Risk Measures (3yr Trailing)As of: 09/30/2017

Beta0.69
R-Squared0.65
Standard Deviation8.58
Sharpe Ratio0.27

Capture Ratios (3yr Trailing)As of: 09/30/2017

Up CaptureDown CaptureOverall
vs. Benchmark Index41.61%77.11%53.96%

Top 5 Contributors to PerformanceAs of: 09/30/2017

SANDERSON FARMS INC
UNITED RENTALS INC
NORTHROP GRUMMAN CORP
CELANESE CORP-SERIES A
AVERY DENNISON CORP

Fund Income DataAs of: 09/30/2017

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Market Capitalization Equity HoldingsAs of: 09/30/2017

(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: 09/30/2017

Total Number of Equity Issues 0.00

Asset AllocationAs of: 09/30/2017

Longs 86.69%
Cash 18.80%
Shorts -5.49%
Total 100.00%

Top Five Sector AllocationsAs of: 09/30/2017

Technology 16.38%
Consumer Non-Cyclical 15.86%
Finance 15.48%
Basic Materials 12.41%
Consumer Cyclical 11.67%
Total as % of Fund71.80%

Top Five Industry AllocationsAs of: 09/30/2017

Utilities-Electric 6.43%
Aerospace-Defense 5.49%
Chemicals-Diversified 5.30%
Miscellaneous Service 4.62%
Tire & Rubber 4.08%
Total as % of Fund25.91%
 

Top Ten Equity Holdings (% of Fund)As of: 07/31/2017

Celanese Corp 3.52%
Northrop Grumman Corp 3.52%
Toro Co/The 3.51%
JPMorgan Chase & Co 3.51%
Travelers Cos Inc/The 3.46%
Best Buy Co Inc 2.89%
Avery Dennison Corp 2.76%
PNM Resources Inc 2.76%
Deere & Co 2.71%
Goodyear Tire & Rubber Co/The 2.63%
Total as % of Fund31.29%

Region Exposure Top ThreeAs of: 09/30/2017

United States of America 98.81%
Singapore 1.19%
Argentina 0.00%
Total as % of Fund100.00%

Bottom 5 Contributors to PerformanceAs of: 09/30/2017

AMERICAN OUTDOOR BRANDS CORP
MCDERMOTT INTL INC
INNOSPEC INC
TORO COMPANY
SOUTHWEST AIRLINES CO

Top Five Sector Allocations (Fixed) As of: 09/30/2017

Total as % of Fund0.00%

Top Five Industry Allocations (Fixed) As of: 09/30/2017

Total as % of Fund0.00%

Top Five Sector Allocations (Shorts Only) As of: 09/30/2017

Energy -2.72%
Technology -1.69%
Mutual Funds -1.08%
Not Applicable 0.00%
Total as % of Fund-5.49%

Top Five Industry Allocations (Shorts Only) As of: 09/30/2017

Oil-Drilling -1.87%
Index Funds -1.08%
Information Processing-Software & Services -0.89%
Oil-Well Equipment & Svc -0.85%
Medical-Biotechnology -0.80%
Total as % of Fund-5.49%

Asset AllocationAs of: 09/30/2017

Longs 86.69%
Cash 18.80%
Shorts -5.49%
Total 100.00%

Top Five Sector AllocationsAs of: 09/30/2017

Technology 16.38%
Consumer Non-Cyclical 15.86%
Finance 15.48%
Basic Materials 12.41%
Consumer Cyclical 11.67%
Total as % of Fund71.80%

Top Five Industry AllocationsAs of: 09/30/2017

Utilities-Electric 6.43%
Aerospace-Defense 5.49%
Chemicals-Diversified 5.30%
Miscellaneous Service 4.62%
Tire & Rubber 4.08%
Total as % of Fund25.91%
 

Top Ten Equity Holdings (% of Fund)As of: 07/31/2017

Celanese Corp 3.52%
Northrop Grumman Corp 3.52%
Toro Co/The 3.51%
JPMorgan Chase & Co 3.51%
Travelers Cos Inc/The 3.46%
Best Buy Co Inc 2.89%
Avery Dennison Corp 2.76%
PNM Resources Inc 2.76%
Deere & Co 2.71%
Goodyear Tire & Rubber Co/The 2.63%
Total as % of Fund31.29%

Region Exposure Top ThreeAs of: 09/30/2017

United States of America 98.81%
Singapore 1.19%
Argentina 0.00%
Total as % of Fund100.00%

Bottom 5 Contributors to PerformanceAs of: 09/30/2017

AMERICAN OUTDOOR BRANDS CORP
MCDERMOTT INTL INC
INNOSPEC INC
TORO COMPANY
SOUTHWEST AIRLINES CO

Top Five Sector Allocations (Fixed) As of: 09/30/2017

Total as % of Fund0.00%

Top Five Industry Allocations (Fixed) As of: 09/30/2017

Total as % of Fund0.00%

Top Five Sector Allocations (Shorts Only) As of: 09/30/2017

Energy -2.72%
Technology -1.69%
Mutual Funds -1.08%
Not Applicable 0.00%
Total as % of Fund-5.49%

Top Five Industry Allocations (Shorts Only) As of: 09/30/2017

Oil-Drilling -1.87%
Index Funds -1.08%
Information Processing-Software & Services -0.89%
Oil-Well Equipment & Svc -0.85%
Medical-Biotechnology -0.80%
Total as % of Fund-5.49%

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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.
© 2017 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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