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Global Fixed Inc Balanced

FundGrade A Click for more information on Fundata’s FundGrade

FundGrade A

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FundGrade A+® Rating Recipient

FundGrade A+® Rating Recipient

2023, 2022

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NAVPS
(04-11-2024)
$9.06
Change
$0.03 (0.33%)

As at March 31, 2024

As at June 30, 2023

Period
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Legend

Chou Bond Fund Series A

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Fund Returns

Inception Return (September 16, 2005): 6.31%

Fund Returns
Row Heading Return Annualized Return
1 Mth 3 Mth 6 Mth YTD 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr
Fund 0.60% 0.16% 1.78% 2.70% 2.17% 4.05% 10.38% 18.31% 8.29% 9.72% 7.16% 9.92% 5.57% 5.31%
Benchmark 1.04% 2.83% 9.37% 2.83% 5.66% 2.64% 0.26% 0.62% 1.90% 2.31% 2.72% 3.04% 3.24% 4.26%
Category Average 1.42% 9.52% 9.52% 2.30% 6.66% 1.54% 1.01% 4.45% 2.74% 2.77% 2.74% 3.17% 2.58% 3.02%
Category Rank 951 / 959 308 / 959 923 / 923 308 / 959 907 / 907 45 / 897 2 / 812 2 / 761 2 / 734 2 / 624 2 / 541 2 / 474 2 / 412 11 / 331
Quartile Ranking 4 2 4 2 4 1 1 1 1 1 1 1 1 1

Monthly Return

Monthly Return
Return % Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Fund 2.87% -0.39% -0.84% -0.90% 1.78% 0.42% 1.78% -4.26% -0.81% 0.16% 1.93% 0.60%
Benchmark 1.00% -1.55% -1.21% 0.72% 1.08% -3.41% 0.82% 3.70% 1.73% 0.36% 1.41% 1.04%

Best Monthly Return Since Inception

16.63% (October 2018)

Worst Monthly Return Since Inception

-14.17% (August 2019)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund 9.77% -3.58% 9.10% -1.61% 14.85% -25.10% 24.88% 41.25% 7.96% -1.86%
Benchmark 11.35% 16.91% 0.39% 3.81% 5.53% 6.30% 9.09% -0.49% -11.13% 6.74%
Category Average 6.43% 1.21% 4.39% 5.49% -2.85% 9.97% 7.08% 4.51% -11.10% 7.71%
Quartile Ranking 1 4 1 4 1 4 1 1 1 4
Category Rank 28/ 324 395/ 399 14/ 461 538/ 538 2/ 614 705/ 705 2/ 761 2/ 812 2/ 866 907/ 907

Best Calendar Return (Last 10 years)

41.25% (2021)

Worst Calendar Return (Last 10 years)

-25.10% (2019)

Asset Allocation

Asset Allocation
Name Percent
Foreign Corporate Bonds 58.40
Foreign Bonds - Other 36.41
US Equity 4.77
Canadian Corporate Bonds 0.83
Cash and Equivalents -0.40
Other -0.01

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 86.98
Financial Services 8.66
Energy 4.77
Cash and Cash Equivalent -0.40
Other -0.01

Geographic Allocation

Geographic Allocation
Name Percent
North America 100.40
Other -0.40

Top Holdings

Top Holdings
Name Percent
Federal Home Loan Mortgage Corporation (USD) 5.13% 22-Aug-2025 36.41
World Acceptance Corp 7.00% 01-Nov-2026 10.68
MBIA Global Funding LLC (USD) 9.64
Lumen Technologies Inc 4.00% 15-Feb-2027 9.19
B Riley Financial Inc - Debenture 8.66
Avation Capital SA 9.00% 31-Oct-2026 8.16
USD SWEEP VII CIBC MELLON 1.50% 31-Dec-2049 6.39
EXCO Resources Inc 4.77
Bausch Health Cos Inc 11.00% 30-Sep-2028 2.89
1375209 BC Ltd 9.00% 30-Jan-2028 2.29

Equity Style

Equity style data not available

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

Chou Bond Fund Series A

Median

Other - Global Fixed Inc Balanced

3 Yr Annualized

Standard Deviation 6.93% 14.50% 14.60%
Beta -0.23% -0.45% 0.05%
Alpha 0.10% 0.10% 0.06%
Rsquared 0.06% 0.04% 0.00%
Sharpe 1.09% 0.49% 0.33%
Sortino 2.00% 0.67% 0.35%
Treynor -0.33% -0.16% 0.91%
Tax Efficiency 82.89% 63.18% 41.99%
Volatility Volatility rating is 3 on a scale of 1 to 10 Volatility rating is 7 on a scale of 1 to 10 Volatility rating is 8 on a scale of 1 to 10

Risk Rating

Rating 3 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 6.51% 6.93% 14.50% 14.60%
Beta -0.25% -0.23% -0.45% 0.05%
Alpha 0.04% 0.10% 0.10% 0.06%
Rsquared 0.06% 0.06% 0.04% 0.00%
Sharpe -0.37% 1.09% 0.49% 0.33%
Sortino -0.13% 2.00% 0.67% 0.35%
Treynor 0.10% -0.33% -0.16% 0.91%
Tax Efficiency - 82.89% 63.18% 41.99%

Fund Details

Start Date September 16, 2005
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Annual
Assets ($mil) $11

Fund Codes

FundServ Code Load Code Sales Status
CHO400

Investment Objectives

The Fund's objective is to provide conservation of principal and income production, along with capital appreciation. The Fund invests primarily in Canadian and U.S. fixed income instruments. These fixed income instruments include, but are not limited to Government of Canada, provincial, municipal and corporate issues, including convertibles and high yield fixed income instruments. Investments may be made in fixed income instruments outside of Canada and U.S.

Investment Strategy

The Fund seeks to achieve its investment objectives by investing in securities that it believes are undervalued. The Fund will generally be fully invested. A combination of investment strategies will be utilized in managing the portfolio including relative value trades, yield enhancement strategies and interest rate anticipation traces. The Fund will primarily invest in securities issued by governments, municipalities, provinces and corporations in Canada and the United States.

Portfolio Manager(s)

Name Start Date
Francis Chou 09-16-2005

Management and Organization

Fund Manager Chou Associates Management Inc.
Advisor Chou Associates Management Inc.
Custodian CIBC Mellon Trust Company
Registrar CIBC Mellon Global Securities Services Company
Distributor -
Auditor Grant Thornton LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed No
PAC Initial Investment -
PAC Subsequent -
SWP Allowed Yes
SWP Min Balance 10,000
SWP Min Withdrawal 500

Fees

MER 1.41%
Management Fee 1.50%
Load Front Fee Only
FE Max 0.00%
DSC Max -
LL Max -
Trailer Fee Max (FE) 0.15%
Trailer Fee Max (DSC) -
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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