Ticker
SCJIXDay price | Change
01/23/2025Class
Institutional
OVERVIEW
The Fund’s principal investment strategy is to invest in a portfolio of large-cap, dividend-paying, equity securities that are listed on U.S. exchanges and to write (sell) covered call options on those securities with the overall goal of providing options premium income and lowering volatility of the fund’s portfolio when compared to the broader uncovered large-cap securities market, subject to the limitations of the fund’s values-based screening policies.
Snapshot
- Morningstar category
- Derivative Income
- Inception date
- 12/14/2017
- Prospectus dated
- 8/28/24
- Prospectus expense ratio
- 1.00%
- Total AUM - All classes
- $95,431,052
- Average market cap (M)
- $405,187
- # of holdings
- 91
- Benchmark
- S&P 500 Index
Performance (%)
| Performance (%) | Quarter | YTD | 1 Year | 3 Year | 5 Year | Inception |
|---|---|---|---|---|---|---|
| Steward Covered Call Income Fund | 2.56 | 16.97 | 16.97 | 7.01 | 9.81 | 9.22 |
| CBOE S&P 500 BuyWrite Index (BXM) | 5.78 | 20.12 | 20.12 | 5.99 | 6.88 | 6.35 |
| S&P 500 | 2.41 | 25.02 | 25.02 | 8.94 | 14.53 | 13.88 |
| Calendar Year Performance (%) | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|
| Steward Covered Call Income Fund | 16.97 | 19.38 | -12.24 | 21.80 | 6.99 | 20.75 | -3.48 |
| CBOE S&P 500 BuyWrite Index (BXM) | 20.12 | 11.82 | -11.37 | 20.47 | -2.75 | 15.68 | -4.77 |
| S&P 500 | 25.02 | 26.29 | -18.11 | 28.71 | 18.40 | 31.49 | -4.38 |
Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. The fund’s current performance may be lower or higher than quoted. Before investing in a mutual fund, you should read the fund’s prospectus carefully and consider the fund’s investment objectives, risks, charges, and expenses. The prospectus contains this and other information about the fund. To obtain Fund performance as of the most recent month-end or to obtain a copy of the Steward Funds’ prospectus free of charge, call Crossmark Distributors at 888.845.6910.
Index returns shown assume the reinvestment of all dividends and distributions.
Annual Fund Operating Expenses
Institutional
- Management fees
- 0.63%
- Other expenses 1
- 0.62%
- Total annual fund operating expenses
- 1.25%
- Fee waiver and/or expense reimbursement 2
- 0.25%
- Total annual fund operating expenses after fee waivers and reimbursement
- 1.00%
- “Other Expenses” are based on estimated amounts for the current fiscal year.
- Crossmark has contractually agreed through August 31, 2025 to waive fees and reimburse expenses to the extent that total annual fund operating expenses (excluding brokerage costs, interest, taxes, dividend expense on short positions, litigation and indemnification expenses, acquired fund fees and expenses and extraordinary expenses (as determined under generally accepted accounting principles)) exceed 1.00% for the Institutional Class. If it becomes unnecessary for Crossmark to waive fees or make reimbursements, Crossmark may recapture any of its prior waivers or reimbursements for a period not to exceed three years from the date on which the waiver or reimbursement was made to the extent that such a recapture does not cause the total annual fund operating expenses (excluding brokerage costs, interest, taxes, dividend expense on short positions, litigation and indemnification expenses, acquired fund fees and expenses and extraordinary expenses (as determined under generally accepted accounting principles)) to exceed the applicable expense limitation in effect at the time of recoupment or in effect at the time of the waiver or reimbursement, whichever is lower. The agreement to waive fees and reimburse expenses may be terminated by the Board of Directors at any time and will terminate automatically upon termination of the Investment Advisory Agreement.
Portfolio managers
PAUL C. TOWNSEN
RYAN E. CAYLOR, CFA
Resources
The Steward Funds are distributed by Crossmark Distributors, Inc., member FINRA. Crossmark Distributors is an affiliate of Crossmark Global Investments, Inc., the Steward Funds’ investment adviser. Crossmark Global Investments is an investment adviser registered with the Securities and Exchange Commission that provides discretionary investment management services to mutual funds, institutions, and individual clients.
The fund may not achieve its objective if the managers’ expectations regarding particular securities or markets are not met. Equity investments generally involve two principal risks—market risk and selection risk. The value of equity securities will rise and fall in response to general market and/or economic conditions (equity market risk). The value of any individual equity security will rise and fall in response to the market’s perception of the issuer’s revenues, earnings, balance sheet, credit worthiness, business plan, and overall perception of the viability of the issuer’s business (selection risk).
Options are not suitable for every investor. Writing call options to generate income and to potentially hedge against market declines by generating option premiums involves risk. If the market price of a security increases, a call option written against that security limits the gain that can be realized. And, there can be significant differences between the securities and options markets that could result in an imperfect correlation between these markets, causing a given transaction not to achieve its objectives.
The Fund’s values-based screening policies exclude certain securities issuers from the universe of otherwise available investments. As a result, the Fund may not achieve the same level of performance as it otherwise would have in the absence of the screening process. If the Fund has invested in a company that is later discovered to be in violation of one or more screening criteria and liquidation of an investment in that company is required, selling the securities at issue could result in a loss to the Fund. Further, the Fund’s values-based screening policies may prevent the Fund from participating in an otherwise suitable investment opportunity.
For comparison purposes, the fund is compared against the S&P 500 Index. The S&P 500 Index is a large capitalization weighted index of 500 U.S. companies generally considered to be representative of stock market activity. Please note that indexes do not take into account any fees and expenses of investing in the individual securities that they track and investors cannot invest directly in any index.