Rural America Growth & Income Fund
Investment Objective and Strategy
Is this fund a good choice for me?
The Rural America Growth & Income Fund may be appropriate if you are seeking a mixture of interest income and capital appreciation.
Investment objective and strategy
Under normal circumstances, the fund intends to invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in securities that have exposure to rural America. The fund primarily invests in equity and fixed-income securities of U.S. issuers.
Fund Profile
| Inception | May 01, 2021 |
|---|---|
| Asset Allocation | Balanced |
| Benchmark | Blended Index |
| Ticker Symbol | HRRLX |
| CUSIP Number | 437771207 |
| Fee Structure | No Load |
| Expense Ratio | 2.85% (Net 1.00%) (12/31/2022) |
| Median Expense Ratio for Peer Group | 0.72% (12/31/2022) |
| Fee Waiver | Contractual through 4/30/2024 |
| Transaction Fees | NONE |
| 30-Day SEC Yield | 1.77% (5/31/2023) |
Performance
Growth of $10,000
The line chart is a comparison of the change in value of a $10,000 investment in the fund and the Blended Index which is composed of the Russell 3000 Index and the Bloomberg Intermediate U.S. Government/Credit Bond Index in a static 60/40 allocation. The chart represents past performance, which is no guarantee of future results. Current performance may be higher or lower than that shown above. Returns and the principal value of your investment will fluctuate such that shares, when redeemed, may be worth more or less than their original cost. The fund’s average annual total returns are net of any fee waivers and reimbursements. Returns do not reflect taxes that the shareholder may pay on fund distributions or the redemption of fund shares.
Industry Classifications
Morningstar |
|
| Category | Allocation — 50% to 70% Equity |
|---|---|
Lipper |
|
| Classification | Mixed-Asset Target Allocation Growth Funds |
|---|---|
Share Price History
As of 06/08/2023
The chart plots daily share prices for the last 10 years. The interactive calendar will retrieve the share price for any business day since the fund's inception.
Composition
Asset Mix
As of 3/31/2023
The Rural America Growth & Income Fund is an actively managed balanced fund, meaning the fund’s portfolio includes both stocks and bonds.
Bond Security Weightings
As of 3/31/2023
Equity Sector Weightings
As of 3/31/2023
Top 10 Holdings
As of 3/31/2023
| Federal Farm Credit Bank, 08/15/28, 3.87% | 2.9% |
|---|---|
| Deere & Co. | 2.6% |
| Federal Farm Credit Bank, 09/27/29, 4.00% | 2.4% |
| Hershey Co. (The) | 2.4% |
| Zoetis Inc. | 2.4% |
| Federal Farm Credit Bank, 02/25/26, 3.32% | 2.3% |
| Federal Farm Credit Bank, 10/21/25, 0.52% | 2.2% |
| Tennessee Valley Authority | 2.1% |
| Federal Farm Credit Bank, 04/28/27, 1.20% | 2.1% |
| Stryker Corp. | 2.1% |
| Total | 23.5% |
Portfolio holdings are subject to change without notice.
Portfolio Characteristics
As of 3/31/2023
| Net Assets | $8,401,928 |
|---|---|
| Number of Holdings | 115 |
| Weighted Average Maturity | 4.21 years |
| Duration | 3.68 years |
Weighted average maturity and duration apply to the fixed-income portion of the fund’s portfolio.
Distributions
Income and/or capital gains distributions for this fund, if any, are listed in the table below for the current and previous calendar year. Mutual funds are required to pass through to their shareholders substantially all of the interest income and capital gains earned by the fund during the year. These distributions are paid on a regular schedule as shown in the table below.
2022 Earnings Distribution
| Distribution Type | Record Date | Declaration Date | $/Per Share |
|---|---|---|---|
| Ordinary Income | 6/29/22 | 6/30/22 | $0.0011 |
| Short-Term Capital Gains | 6/29/22 | 6/30/22 | $0.0019 |
| Ordinary Income | 12/14/22 | 12/15/22 | $0.0502 |
The record date is the date on which you must be a shareholder in order to receive a portion of the fund’s distribution.
The declaration date, typically the business day after the record date, is the date the amount of the distribution is announced and deducted from fund assets. On this day, the amount of the distribution is deducted from fund assets and calculated as a per share amount to be passed through to shareholders. The fund’s share price will decline by the amount of the distribution (plus or minus any share price change related to market activity). The following business day, shareholders will see their portion of the distribution posted to their account as either a cash dividend or dividend reinvestment.
Portfolio Management
Debt securities are subject to interest rate risk, credit risk, extension risk, income risk, issuer risk and market risk. The value of U.S. Government securities can decrease due to changes in interest rates or changes to the financial condition or credit rating of the U.S. Government. Investments in asset-backed and mortgage-backed securities are also subject to prepayment risk as well as increased susceptibility to adverse economic developments. High-yield, lower-rated, securities involve greater risk than higher-rated securities. Loans are subject to risks involving the enforceability of security interests and loan transactions, inadequate collateral, liabilities relating to collateral securing obligations, and the liquidity of the loans. Equity securities generally have greater price volatility than fixed-income securities and are subject to issuer risk and market risk.