Overview

Investment Objective

James Micro Cap Fund seeks to provide long-term capital appreciation.

Quick Stats10/31/2020

6.69%
Avg. Annual Return
-21.40%
YTD Return
$15.06
Daily Price
11/27/2020
$20 M
Net Assets
Previous Month10/31/20
High: $13.89
Low: $13

Investment Strategy

The James Micro Cap Fund invests primarily in equity securities of foreign and domestic companies that the Adviser believes are undervalued. Equity securities include common stocks, preferred stocks and exchange traded funds ("ETFs") that invest primarily in equity securities. Under normal circumstances, the Fund will invest at least 80% of its net assets (plus the amount of borrowing for investment purposes, if any) in equity securities of micro capitalization companies. Micro capitalization companies are defined as those companies with market capitalizations at the time of purchase no larger than the stocks in the Russell Microcap® Index, including ETFs that invest primarily in such securities.

The Fund anticipates investing across a range of industry sectors. However, certain sectors may be significantly overweighted or underweighted compared to the Russell Microcap® Index because the Adviser seeks the best investment opportunities regardless of sector. The sectors in which the Fund may be overweighted or underweighted will vary at different points in the economic cycle. The Adviser uses a disciplined sell strategy for the Fund. The Adviser may sell securities because of a deterioration of the underlying company's financials, such as earnings or cash flow, or because of an increase in the price of a stock that would make it expensive relative to the other stocks held by the Fund. Other reasons may include a change in management or control of the company, a need to raise cash or changes in the regulatory or economic environment in which the company operates.

Daily Prices (NAV)11/27/2020

Prices are usually updated each business day by 7 pm EST.

Ticker Expense Ratio Price / Share $ Change % Change 52 Week High 52 Week Low
JMCRX 1.51% 15.06 0.03 0.20 16.86 8.91
Date Fund Price $ Change %

Fund Performance

    Daily Price & YTD ReturnData as of 11/27/2020 Total % ReturnData as of 10/31/2020 Average AnnualTotal % Return as of 10/31/2020  
Fund Name Ticker Price / Share $ Change YTD YTD 1 Mo 3 Mo 1 Yr 3 Yr 5 Yr 10 Yr S.I.
Micro Cap
Inception Date: 07/01/2010
Total Expense Ratio: (1.51%)
JMCRX 15.06 0.03 -8.95 -21.40 0.85 1.09 -18.75 -6.31 -0.30 6.02 6.69
Russell Micro Cap Index -6.75 1.29 3.92 3.15 0.39 5.88 9.04 10.21
    Daily Price & YTD ReturnData as of 11/27/2020 Total % ReturnData as of 09/30/2020 Average AnnualTotal % Return as of 09/30/2020  
Fund Name Ticker Price / Share $ Change YTD YTD 1 Mo 3 Mo 1 Yr 3 Yr 5 Yr 10 Yr S.I.
Micro Cap
Inception Date: 07/01/2010
Total Expense Ratio: (1.51%)
JMCRX 15.06 0.03 -8.95 -22.07 -3.23 1.34 -17.84 -5.47 1.28 6.46 6.66
Russell Micro Cap Index -7.94 -3.17 3.69 4.44 -0.09 6.72 9.50 10.16

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.

Fund Returns

Ticker

JMCRX

10/31/20 0.85%
09/30/20 -3.23%
08/31/20 3.58%
07/31/20 1.10%
06/30/20 2.75%

Calendar Year Total Returns

Holdings and Details

Top Five Sector Allocations10/31/2020

INDUSTRIALS 19.99%
FINANCIALS 18.45%
INFORMATION TECHNOLOGY 16.93%
HEALTH CARE 13.94%
CONSUMER DISCRETIONARY 13.72%

Total as % of Fund 83.03%

Top Five Industry Allocations10/31/2020

HOMEBUILDING 9.85%
TECHNOLOGY DISTRIBUTORS 8.78%
SEMICONDUCTOR EQUIPMENT 8.15%
BUILDING PRODUCTS 7.05%
BIOTECHNOLOGY 5.71%

Total as % of Fund 39.55%

Top Ten Equity Holdings (% of Fund)10/31/2020

Nova Measuring Instruments Ltd 8.15%
PC Connection Inc 7.08%
Patrick Industries Inc 7.05%
M/I Homes Inc 6.63%
Piper Sandler Cos 4.62%
Vectrus Inc 4.38%
Haverty Furniture Cos Inc 3.87%
Enova International Inc 3.82%
CAI International Inc 3.76%
Ingles Markets Inc 3.53%

Total as % of Fund 52.89%

Region Exposure Top Three10/31/2020

United States of America 87.59%
Israel 9.90%
Puerto Rico 2.51%

Total as % of Fund 100.00%

Subject to change

Fund Characteristics10/31/2020

TickerJMCRX
Inception Date07/01/2010
Cusip470259813
Total Net Assets as of 11/27/2020 ($mil)$19.50
Price/Earnings Ratio (12m trailing) 18.08
Price/Book Ratio 2.20
Dividend Yield 1.63
Weighted Average Market Capitalization ($ mil) $927.70
Median Market Capitalization ($ mil)$686.00
Total Number of Equity Issues30
Portfolio Turnover Rate (annualized as of Fiscal Year-End 11/01/20)35.00%

Asset Allocation10/31/2020

Equity: 94.84%
Fixed: 0%
Cash: 5.16%
Other: 0%

Market Capitalization Equity Holdings10/31/2020

(Less than $250 mil ): 0.76%
($250 - $1,000 mil): 54.85%
($1,000 - $4,000 mil): 44.39%
($4,000 - $7,000 mil): 0%
(Greater than $7,000 mil): 0%

Fund Operating Expenses11/01/2020

Management Fee1.48%
Distribution (12b-1) Fee0.00%
Other Expenses0.02%
Acquired Fund Fees and Expenses(AFFE)0.01%
Total Annual Fund Operating Expenses1.51%
Redemption Fee(within 180 Days)2.00%

Risk Measures (3yr Trailing)10/31/2020

0.97
Beta
0.91
R-Squared
24.56
Standard Deviation
-0.20
Sharpe Ratio
EX-Date Payable Date Reinvestment Price Dividend Type Dividend Amount
12/27/2019 12/30/2019 $16.53 Income $0.0388
12/09/2019 12/10/2019 $16.44 Long Term Cap Gain $0.5058
12/07/2018 12/10/2018 $14.13 Long Term Cap Gain $0.9068
12/28/2017 12/29/2017 $17.40 Income $0.0561
12/05/2017 12/06/2017 $17.25 Long Term Cap Gain $1.2884
12/29/2016 12/30/2016 $18.15 Income $0.0000
12/30/2015 12/31/2015 $15.29 Income $0.0138
12/30/2014 12/31/2014 $14.74 Income $0.0236
12/04/2014 12/05/2014 $14.31 Short Term Cap Gain $0.0000
12/04/2014 12/05/2014 $14.31 Long Term Cap Gain $3.4509
12/30/2013 12/31/2013 $17.09 Income $0.0147
12/28/2012 12/31/2012 $11.45 Income $0.1368
12/29/2011 12/30/2011 $10.81 Income $0.0000
12/01/2011 12/02/2011 $10.40 Long Term Cap Gain $0.0035
12/01/2011 12/02/2011 $10.40 Short Term Cap Gain $0.0525
03/30/2011 03/31/2011 $12.24 Income $0.0000

NAV History

Previous Year Ending 12/31/19
High $16.90 04/24/2019
Low $13.51 12/31/2018
Previous Month Ending 10/31/20
High $13.89 10/15/2020
Low $13.00

Daily NAV & Distributions

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Economic Outlook

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  • Forecast for Economy, Bonds, Stocks and International

Forms & Reports

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Important Disclosure

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.

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.