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

Long-Short (JAZZX)


NAV as of: 02/20/2019 $13.77 - Daily NAV change: +$0.02 (+0.15%)
Fund CharacteristicsAs 0f: 01/31/2019
TickerJAZZX
Inception Date05/23/2011
Cusip470259797
Total Net Assets as of 02/20/2019 ($mil)$18.64
Price/Earnings Ratio (12m trailing)13.35
Price/Book Ratio4.28
Dividend Yield2.25
Weighted Average Market Capitalization ($ mil)98,602.9
Median Market Capitalization ($ mil)34,226.1
Total Number of Equity Issues49
Portfolio Turnover Rate (annualized as of Fiscal Year-End 11/01/18)171.00%

Fund Operating Expenses: Prospectus 11/01/2018

Management Fee1.24%
Distribution (12b-1) Fee0.25%
Other Expenses0.02%
Acquired Fund Fees and Expenses(AFFE)0.02%
Dividend Expense on Securites sold short0.07%
Total Annual Fund Operating Expenses1.61%

Market Capitalization Equity HoldingsAs of: 01/31/2019

(Less than $250 mil )0.00%
($250 - $1,000 mil)0.00%
($1,000 - $4,000 mil)11.38%
($4,000 - $7,000 mil)3.44%
(Greater than $7,000 mil)85.18%
Total 100.00%

Risk Measures (3yr Trailing)As of: 01/31/2019

Beta0.81
R-Squared0.77
Standard Deviation10.46
Sharpe Ratio0.15

Capture Ratios (3yr Trailing)As of: 01/31/2019

Up CaptureDown CaptureOverall
vs. Benchmark Index43.75%98.32%44.49%

Top 5 Contributors to PerformanceAs of: 01/31/2019

DEERE & COMPANY
AVERY DENNISON CORP
SOUTHWEST AIRLINES CO
OWENS-ILLINOIS INC
AFLAC INC

Fund Income DataAs of: 01/31/2019

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Market Capitalization Equity HoldingsAs of: 01/31/2019

(Less than $250 mil ) 0.00%
($250 - $1,000 mil) 0.00%
($1,000 - $4,000 mil) 0.00%
($4,000 - $7,000 mil) 27.08%
(Greater than $7,000 mil) 72.92%
Total100.00%

Short CharacteristicsAs of: 01/31/2019

Total Number of Equity Issues 12.00
Fund CharacteristicsAs 0f: 12/31/2018
TickerJAZZX
Inception Date05/23/2011
Cusip470259797
Total Net Assets as of 02/20/2019 ($mil)$18.64
Price/Earnings Ratio (12m trailing)12.75
Price/Book Ratio4.17
Dividend Yield2.41
Weighted Average Market Capitalization ($ mil)94,261.1
Median Market Capitalization ($ mil)32,101.0
Total Number of Equity Issues52
Portfolio Turnover Rate (annualized as of Fiscal Year-End 11/01/18)171.00%

Fund Operating Expenses: Prospectus 11/01/2018

Management Fee1.24%
Distribution (12b-1) Fee0.25%
Other Expenses0.03%
Acquired Fund Fees and Expenses(AFFE)0.02%
Dividend Expense on Securites sold short0.07%
Total Annual Fund Operating Expenses1.61%

Market Capitalization Equity HoldingsAs of: 12/31/2018

(Less than $250 mil )0.00%
($250 - $1,000 mil)0.00%
($1,000 - $4,000 mil)11.34%
($4,000 - $7,000 mil)4.43%
(Greater than $7,000 mil)84.23%
Total 100.00%

Risk Measures (3yr Trailing)As of: 12/31/2018

Beta0.80
R-Squared0.76
Standard Deviation10.19
Sharpe Ratio-0.17

Capture Ratios (3yr Trailing)As of: 12/31/2018

Up CaptureDown CaptureOverall
vs. Benchmark Index40.72%95.14%42.80%

Top 5 Contributors to PerformanceAs of: 12/31/2018

AETNA INC.
WYNN RESORTS LTD (short)
PNM RESOURCES INC
NRG ENERGY INC
INCYTE CORPORATION (short)

Fund Income DataAs of: 12/31/2018

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Market Capitalization Equity HoldingsAs of: 12/31/2018

(Less than $250 mil ) 0.00%
($250 - $1,000 mil) 0.00%
($1,000 - $4,000 mil) 8.35%
($4,000 - $7,000 mil) 17.24%
(Greater than $7,000 mil) 74.41%
Total100.00%

Short CharacteristicsAs of: 12/31/2018

Total Number of Equity Issues 13.00

Asset AllocationAs of: 01/31/2019

Longs 87.16%
Cash 22.81%
Shorts -9.98%
Total 100.00%

Top Five Sector AllocationsAs of: 01/31/2019

Finance 19.70%
Technology 17.10%
Consumer Non-Cyclical 13.43%
Industrial 10.77%
Consumer Cyclical 10.06%
Total as % of Fund71.06%

Top Five Industry AllocationsAs of: 01/31/2019

Utilities-Electric 5.37%
Banks-Multinational 4.57%
Drugs-Ethical 4.17%
Information Processing-Indiv Comput-Network 4.14%
Chemicals-Diversified 4.05%
Total as % of Fund22.29%
 

Top Ten Equity Holdings (% of Fund)As of: 01/31/2019

JPMorgan Chase & Co 4.57%
Celanese Corp 4.05%
Deere & Co 4.00%
Travelers Cos Inc/The 3.91%
Avery Dennison Corp 3.58%
Pfizer Inc 3.12%
United Rentals Inc 2.89%
Kroger Co/The 2.60%
Cisco Systems Inc 2.53%
UnitedHealth Group Inc 2.52%
Total as % of Fund33.77%

Region Exposure Top ThreeAs of: 01/31/2019

United States of America 100.00%
Argentina 0.00%
42 4,200.00%
Total as % of Fund4,300.00%

Bottom 5 Contributors to PerformanceAs of: 01/31/2019

GRAND CANYON EDUCATION INC
APPLE INC
SAGE THERAPEUTICS INC (short)
BEST BUY INC
FEDEX CORP

Top Five Sector Allocations (Fixed) As of: 01/31/2019

Total as % of Fund0.00%

Top Five Industry Allocations (Fixed) As of: 01/31/2019

Total as % of Fund0.00%

Top Five Sector Allocations (Shorts Only) As of: 01/31/2019

Technology -4.44%
Consumer Cyclical -3.34%
Basic Materials -0.75%
Finance -0.74%
Industrial -0.72%
Total as % of Fund-9.98%

Top Five Industry Allocations (Shorts Only) As of: 01/31/2019

Medical-Biotechnology -2.95%
Leisure Time -0.87%
Other (Consumer Cyclical) -0.85%
Toys -0.83%
Broadcasting-Tv & Radio -0.79%
Total as % of Fund-6.29%

Asset AllocationAs of: 12/31/2018

Longs 88.98%
Cash 19.94%
Shorts -8.92%
Total 100.00%

Top Five Sector AllocationsAs of: 12/31/2018

Finance 19.34%
Technology 16.78%
Consumer Non-Cyclical 13.87%
Consumer Cyclical 11.34%
Industrial 9.95%
Total as % of Fund71.28%

Top Five Industry AllocationsAs of: 12/31/2018

Utilities-Electric 6.63%
Banks-Multinational 4.59%
Drugs-Ethical 4.57%
Information Processing-Indiv Comput-Network 4.10%
Chemicals-Diversified 4.06%
Total as % of Fund23.95%
 

Top Ten Equity Holdings (% of Fund)As of: 12/31/2018

JPMorgan Chase & Co 4.59%
Celanese Corp 4.06%
Travelers Cos Inc/The 3.98%
Deere & Co 3.88%
Pfizer Inc 3.42%
Avery Dennison Corp 3.29%
Kroger Co/The 2.69%
United Rentals Inc 2.53%
UnitedHealth Group Inc 2.48%
Cisco Systems Inc 2.47%
Total as % of Fund33.38%

Region Exposure Top ThreeAs of: 12/31/2018

United States of America 100.00%
Argentina 0.00%
42 4,200.00%
Total as % of Fund4,300.00%

Bottom 5 Contributors to PerformanceAs of: 12/31/2018

UNITED RENTALS INC
CELANESE CORPORATION
BEST BUY INC
CHESAPEAKE ENERGY
MICRON TECHNOLOGY INC

Top Five Sector Allocations (Fixed) As of: 12/31/2018

Total as % of Fund0.00%

Top Five Industry Allocations (Fixed) As of: 12/31/2018

Total as % of Fund0.00%

Top Five Sector Allocations (Shorts Only) As of: 12/31/2018

Technology -3.76%
Consumer Cyclical -2.97%
Industrial -0.74%
Basic Materials -0.73%
Finance -0.72%
Total as % of Fund-8.92%

Top Five Industry Allocations (Shorts Only) As of: 12/31/2018

Medical-Biotechnology -2.34%
Other (Technology) -0.76%
Toys -0.75%
Other (Consumer Cyclical) -0.74%
Leisure Time -0.74%
Total as % of Fund-5.34%

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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.

The performance data quoted represents past performance. Past performance is no guarantee of future results. Current performance may be lower or higher than performance data quoted. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The average annual total returns assume reinvestment of income, dividends, and capital gains distributions and reflect changes in net asset value. You should note that the James Advantage Funds are professionally managed mutual funds while the indices are unmanaged, do not incur expenses, and are not available for investment.

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.
© 2019 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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