Overview

Investment Objective

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

Quick Stats07/31/2023

9.07%
Avg. Annual Return
16.95%
YTD Return
$17.56
Daily Price
09/25/2023
$24 M
Net Assets

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)09/25/2023

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% 17.56 0.12 0.69 18.85 16.18
Date Fund Price $ Change %

Fund Performance

    Daily Price & YTD ReturnData as of 09/25/2023 Total % ReturnData as of 08/31/2023 Average AnnualTotal % Return as of 08/31/2023  
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 17.56 0.12 11.92 16.95 -2.34 13.41 14.98 16.17 4.40 8.07 9.07
Russell Micro Cap Index 0.63 -6.66 4.82 -4.80 6.04 0.89 6.63 9.54
VettaFi US Equity Micro Cap Index -0.06 -9.07 3.91 -6.70 3.49 -1.08 5.55 -
    Daily Price & YTD ReturnData as of 09/25/2023 Total % ReturnData as of 06/30/2023 Average AnnualTotal % Return as of 06/30/2023  
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 17.56 0.12 11.92 11.28 7.91 5.75 15.66 16.03 4.09 7.71 8.78
Russell Micro Cap Index 2.33 6.60 5.30 6.63 9.09 2.07 7.29 9.81
VettaFi US Equity Micro Cap Index 1.81 5.85 2.80 4.25 6.58 -0.01 6.17 -

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

05/31/23 0.56%
04/30/23 -2.54%
03/31/23 -4.07%
02/28/23 1.12%
01/31/23 8.48%

Calendar Year Total Returns

Holdings and Details

Top Five Sector Allocations07/31/2023

Financials 25.44%
Information Technology 17.08%
Industrials 11.55%
Consumer Discretionary 11.51%
Health Care 9.76%

Total as % of Fund 75.34%

Top Five Industry Allocations07/31/2023

Finance/Rental/Leasing 10.66%
Information Technology Services 5.81%
Electronic Equipment/Instruments 5.39%
Packaged Software 4.99%
Homebuilding 4.85%

Total as % of Fund 31.70%

Top Ten Equity Holdings (% of Fund)07/31/2023

Nova Ltd. 4.85%
Federal Agricultural Mortgage Corporation Class C 4.76%
Donnelley Financial Solutions, Inc. 4.11%
Enova International Inc 4.02%
Ingles Markets, Incorporated Class A 3.89%
OFG Bancorp 3.65%
Insight Enterprises, Inc. 3.56%
Merchants Bancorp 3.48%
Haverty Furniture Companies, Inc. 3.22%
Piper Sandler Companies 3.11%

Total as % of Fund 38.66%

Region Exposure Top Three07/31/2023

United States 100.00%
Canada 0.00%
Norway 0.00%

Total as % of Fund 100.00%

Subject to change

Fund Characteristics07/31/2023

TickerJMCRX
Inception Date07/01/2010
Cusip470259813
Total Net Assets as of 06/14/2023 ($mil)$24.30
Price/Earnings Ratio (12m trailing) 10.41
Price/Book Ratio 1.87
Dividend Yield 0.01
Weighted Average Market Capitalization ($ mil) 1,944.2
Median Market Capitalization ($ mil)1,276.2
Total Number of Equity Issues55
Total Number of Debt Issues-??
Portfolio Turnover Rate (annualized as of Fiscal Year-End 11/01/23)55.00%

Asset Allocation07/31/2023

Market Capitalization Equity Holdings07/31/2023

Fund Operating Expenses11/01/2023

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)07/31/2023

0.72
Beta
0.69
R-Squared
20.72
Standard Deviation
0.94
Sharpe Ratio
EX-Date Payable Date Reinvestment Price Dividend Type Dividend Amount
12/28/2022 12/28/2022 $15.42 Income $0.0921
12/07/2022 12/07/2022 $16.26 Long Term Cap Gain $1.3419
12/29/2021 12/30/2021 $20.81 Income $0.0099
12/08/2021 12/09/2021 $20.20 Long Term Cap Gain $0.7841
12/29/2020 12/30/2020 $15.62 Income $0.0842
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 Long Term Cap Gain $3.4509
12/04/2014 12/05/2014 $14.31 Short Term Cap Gain $0.0000
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 Short Term Cap Gain $0.0525
12/01/2011 12/02/2011 $10.40 Long Term Cap Gain $0.0035
03/30/2011 03/31/2011 $12.24 Income $0.0000

NAV History

Previous Year Ending 12/31/23
High $18.85 08/07/2023
Low $15.53 05/04/2023
Previous Month Ending 04/30/24
High $0.00
Low $0.00

Daily NAV & Distributions

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Economic Outlook

  • Annual Outlook from Fund Advisor
  • Provides recommendation for Investors
  • 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.