Benchmark Morningstar Category
Tactical Allocation

Asset Allocation

 

EARAX


Asset Distribution
 
  Type %
Net
%
Short
%
Long
Bench-
mark
Cat
Avg
As of 06/30/2016
Cash 1.41 36.10 37.51 0.00 12.93
US Stock 47.15 0.00 47.15 51.53 28.17
Non US Stock 25.39 0.00 25.39 29.09 8.71
Bond 25.43 0.00 25.43 19.29 46.86
Other 0.61 0.00 0.61 0.10 3.33
 

Style Details

 

EARAX

Avg Market Cap USD
27,042 Mil
 
Benchmark Market Cap USD
25,314 Mil
 
Category Avg Market Cap USD
36,850 Mil
Market Capitalization
Size % of Portfolio Benchmark Category Avg
Giant 39.97 38.81 46.92
Large 30.74 27.50 22.49
Medium 14.21 23.87 20.23
Small 14.55 9.54 7.76
Micro 0.53 0.29 2.60
Value & Growth Measures
Stock Portfolio Benchmark Category Avg
As of 06/30/2016
*Forward-looking based on historical data
Style and Market Cap Breakdown and Value and Growth Measures are calculated only using the long position holdings of the portfolio.
Price/Prospective Earnings* 18.14 16.71 16.27
Price/Book* 1.94 1.82 1.91
Price/Sales* 1.62 1.29 1.41
Price/Cash Flow* 7.60 6.80 6.52
Dividend Yield %* 2.80 2.81 2.62
Long-Term Earnings % 8.51 9.45 8.96
Historical Earnings % -2.76 -56.04 -68.69
Sales Growth % -1.87 -36.19 0.80
Cash-Flow Growth % 3.51 -14.44 4.52
Book-Value Growth % 2.46 -10.44 3.52
 
Ownership Zone
Weighted Average of holdings

75% of fund's stock holdings
 
Holdings Style
Portfolio Weight%
> 50% 25–50% 10–25% 0–10%
Investment Style History
Year Style % Equity
*As of 06/30/2016
Style Box Detail calculations do not include the fund's short positions (if any).
2016* 72.54
2015 58.14
2014 60.42
2013 62.61
2012 45.45
Fixed-Income Style
 
Fixed-Income Style History
Year Style % Bonds
As of 12/31/2014
2016 25.43
2015 27.45
2014 29.26
2013 24.79
2012 43.94
 
Bond Statistics
Detail Value
As of 12/31/2014, *As of 06/30/2016
Average Effective Duration (Years)*
Average Effective Maturity (Years)*
Average Credit Quality Not Rated
Average Weighted Coupon* 4.02
Average Weighted Price* 103.99
Credit Quality
Type % Bonds Benchmark Category Avg Bond Weight Benchmark Weight Category Avg Weight
AAA 74.48 34.54
AA 7.86 7.76
A 8.63 12.50
BBB 9.03 15.15
BB 0.00 6.95
B 0.00 6.69
Below B 0.00 2.32
Not Rated 0.00 14.10
As of 12/31/2014
Credit Quality is calculated only using the long position holdings of the portfolio.

Sector Weightings

 

EARAX

% Stocks Benchmark Category Avg   Fund Weight Benchmark Weight Category Avg Weight
Cyclical
Basic Materials 12.92 5.42 4.90
Consumer Cyclical 11.21 11.64 11.96
Financial Services 20.04 16.20 13.43
Real Estate 8.25 6.12 6.32
Sensitive
Communication Services 3.43 4.20 4.27
Energy 7.75 6.51 8.00
Industrials 11.44 11.54 10.50
Technology 16.59 14.23 15.56
Defensive
Consumer Defensive 4.79 9.19 9.29
Healthcare 2.89 10.92 11.72
Utilities 0.69 4.01 4.03
As of 06/30/2016
Sector data is calculated only using the long position holdings of the portfolio.
Fixed-Income Sectors
Type % Bonds Benchmark Category Avg Fund Weight Benchmark Weight Category Avg Weight
Government 13.28 61.53 38.21
       
Corporate 1.67 36.04 13.68
       
Securitized 0.50 2.39 7.65
       
Municipal 24.97 0.01 0.35
       
Cash & Equivalents 39.89 0.03 31.38
       
Other 19.70 0.00 8.72
As of 06/30/2016
Sector data is calculated only using the rescaled long position holdings of the portfolio.
Coupon Range
Type % Bonds Benchmark Category Avg   Fund Weight Benchmark Weight Category Avg Weight
0% 2.51 0.00 12.81
0% to 4% 39.35 83.50 52.46
4% to 6% 46.91 12.46 25.02
6% to 8% 10.95 3.21 4.95
8% to 10% 0.27 0.78 1.77
10% to 12% 0.00 0.05 0.93
More than 12% 0.00 0.00 2.07
As of 06/30/2016
Sector data is calculated only using the long position holdings of the portfolio.

Top 10 Country Breakdown

 

EARAX

% Bonds Benchmark Category Avg Fund Weight Benchmark Weight Category Avg Weight
United States 97.98 88.03 80.58
Cayman Islands 0.48 0.52 2.62
United Kingdom 0.43 1.85 2.92
Netherlands 0.23 1.50 1.23
Japan 0.18 0.52 2.00
Switzerland 0.15 0.16 0.31
Luxembourg 0.13 0.26 0.84
Australia 0.11 0.86 0.17
Norway 0.07 0.14 0.06
France 0.05 0.79 1.23
As of 06/30/2016
Country breakdown data is calculated only using the long position holdings of the portfolio.

Bond Maturity Breakdown

 

EARAX

% Bonds Benchmark Category Avg Fund Weight Benchmark Weight Category Avg Weight
1 to 3 Years 34.40 8.04 17.39
3 to 5 Years 3.57 37.54 20.38
5 to 7 Years 1.94 38.70 14.24
7 to 10 Years 6.19 6.78 21.04
10 to 15 Years 7.97 1.21 4.75
15 to 20 Years 10.83 0.77 3.18
20 to 30 Years 23.24 6.78 14.28
Over 30 Years 11.88 0.17 4.74
As of 06/30/2016
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World Regions

 

EARAX

% Stocks Benchmark Category Avg
As of 06/30/2016
Region breakdown data is calculated by using the long position holdings of the portfolio equity part only.
Americas 68.92 67.54 79.06
North America 68.57 65.92 78.11
Latin America 0.35 1.62 0.95
Greater Europe 30.38 15.62 11.46
United Kingdom 5.56 4.21 3.67
Europe Developed 24.58 9.56 6.96
Europe Emerging 0.10 0.73 0.46
Africa/Middle East 0.14 1.13 0.37
Greater Asia 0.70 16.84 9.49
Japan 0.00 5.80 4.54
Australasia 0.60 1.64 0.79
Asia Developed 0.00 4.49 1.79
Asia Emerging 0.10 4.90 2.36
Market Classification
% Developed Markets 99.31 91.95 95.91
% Emerging Markets 0.69 8.05 4.09
 
Greater Asia Americas Greater Europe

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