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15 important things you should know about American Independence IKSTX mutual fund

Updated: September 10, 2020
N/A
Bull Case
  • No Bull case arguments for now!
Bear Case
  • Low net assets
  • 3-year return below the benchmark
  • 5-year return below the benchmark
  • 10-year return below the benchmark
  • 15-year return below the benchmark
  • High expense ratio
  • Sales load and/or distribution fees

Before we start: if you’re looking for IKSTX “stock” price, you can quickly find it out by visiting Finny and typing "IKSTX quote". If you’re looking for a quick scoop on IKSTX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "IKSTX". You’ll get all this info in one place.

Are you looking to buy or sell IKSTX? Or perhaps you’re looking for IKSTX fact sheet, and learn about its alternatives? If so, you came to the right place.

In this IKSTX mutual fund review, we’ll address key questions our readers have been asking us about this fund, above and beyond what you can find in its prospectus, and on Morningstar or Yahoo Finance.

Here is what you’ll be able to find in this review:

  • Fact Sheet: IKSTX performance, returns, expense ratio, holdings and dividend yield;
  • Analysis: IKSTX buy or sell; the pros and cons of investing in IKSTX mutual fund;
  • Alternatives: other ETFs and mutual funds you should consider as alternatives to IKSTX.

And here is the list of questions we’ll answer:

  1. Describe American Independence Funds Trust: American Independence Kansas Tax-Exempt Bond Fund; Class A Shares (IKSTX).
  2. What are IKSTX holdings?
  3. What is IKSTX performance? What are IKSTX historical returns?
  4. How many up and down years did IKSTX have historically?
  5. What is IKSTX dividend yield?
  6. What is IKSTX minimum initial investment amount?
  7. What is IKSTX expense ratio?
  8. Does IKSTX have any sales loads or 12b-1 distribution expenses?
  9. What is IKSTX tax efficiency (tax-cost ratio)?
  10. What is IKSTX beta? How would you assess IKSTX risk?
  11. What is IKSTX Sharpe ratio?
  12. What is IKSTX Finny Score? IKSTX buy or sell?
  13. What are the pros of investing in IKSTX? What are IKSTX buy reasons?
  14. What are the cons of investing in IKSTX? What are IKSTX sell reasons?

So let’s start. Scroll down to the question that interests you the most.

Fact Sheet

1. Describe American Independence Funds Trust: American Independence Kansas Tax-Exempt Bond Fund; Class A Shares (IKSTX).

The Fund seeks to preserve capital while producing current income for the investor that is exempt from both federal and Kansas state income taxes. At least 80% of the Funds assets, plus borrowings for investment purposes, will be invested in securities the income from which is not subject to the alternative minimum tax.

2. What are IKSTX top holdings?

IKSTX has 0 stock holdings and 200 bond holdings.

The top 8 holdings represent 11.68% of total assets. Here are the top holdings:

Name Symbol % Assets
SEWARD CNTY KANS UNI SCH DIST NO 480 5% N/A 1.63%
WICHITA KANS WTR & SWR UTIL REV 5% N/A 1.61%
TOPEKA KANS UTIL REV 4% N/A 1.55%
BUTLER CNTY KANS UNI SCH DIST NO 385 ANDOVER 5% N/A 1.42%
KANSAS ST DEPT TRANSN HWY REV 5% N/A 1.40%
JOHNSON & MIAMI CNTYS KANS UNI SCH DIST NO 230 5% N/A 1.38%
TOPEKA KANS PUB BLDG COMMN REV 5% N/A 1.37%
TOPEKA KANS UTIL REV 3.5% N/A 1.32%

3. What is IKSTX performance? What are IKSTX historical returns?

IKSTX has generated the following returns:

  • 1-month return is -0.63%;
  • 3-month return is 0.65%;
  • 1-year return is 3.30%;
  • 3-year return is 3.17%;
  • 5-year return is 2.70%;
  • 10-year return is 2.86%;
  • 15-year return is 3.25%.

4. How many up and down years did IKSTX have historically?

In the last 10 years, IKSTX had 9 up years and 1 down year.

5. What is IKSTX dividend yield?

IKSTX yield is 2.22%.

6. What is IKSTX minimum initial investment amount?

IKSTX minimum initial investment amount is $5.00K.

7. What is IKSTX expense ratio?

IKSTX expense ratio is 0.73%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

8. Does IKSTX have any sales loads or 12b-1 distribution expenses?

IKSTX 12b-1 distribution fee is 0.25. IKSTX front-end sales load is 4.25. IKSTX back-end sales load is 0.

9. What is IKSTX tax efficiency (tax-cost ratio)?

  • 1-year ax cost ratio is 0.08%;
  • 3-year ax cost ratio is 0.06%.

10. What is IKSTX beta? How would you assess IKSTX risk?

  • 3-year beta is 0.71;
  • 5-year beta is 0.67;
  • 10-year beta is 0.73;
  • 15-year beta is 0.69.

11. What is IKSTX Sharpe ratio?

  • 3-year Sharpe ratio is 0.54;
  • 5-year Sharpe ratio is 0.59;
  • 10-year Sharpe ratio is 0.85.

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 0. Our quantitative analysis shows 0 reasons to buy and 7 reasons to sell it, resulting in the Finny Score of 0.

13. What are the pros of investing in IKSTX? What are IKSTX buy reasons?

We don't see any strong reasons to buy IKSTX.

14. What are the cons of investing in IKSTX? What are IKSTX negatives?

The following are IKSTX weaknesses from our perspective:

  • IKSTX net assets are $4.20 million. This fund is not a popular choice with retail investors.
  • IKSTX 3-year return is 3.17%, which is lower than the 3-year return of the benchmark index (Bloomberg Barclays Municipal 7 Yr 6-8 TR USD), 3.64%.
  • IKSTX 5-year return is 2.7%, which is lower than the 5-year return of the benchmark index (Bloomberg Barclays Municipal 7 Yr 6-8 TR USD), 3.62%.
  • IKSTX 10-year return is 2.86%, which is lower than the 10-year return of the benchmark index (Bloomberg Barclays Municipal 7 Yr 6-8 TR USD), 3.55%.
  • IKSTX 15-year return is 3.25%, which is lower than the 15-year return of the benchmark index (Bloomberg Barclays Municipal 7 Yr 6-8 TR USD), 4.26%.
  • IKSTX expense ratio is 0.73%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
  • Warning: this fund has a 12b1 and front-end sales fee. The maximum 12b1 fee is 0.25%, while the maximum front-end sales load is 4.25%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund. Front-end sales load, also known as sales charge, is a fee paid when mutual funds shares are purchased. Those fees are subtracted from your total investable assets.
In the IKSTX review, we covered IKSTX key stats (return, performance, yield, expense ratio, and holdings), buy and sell analysis, and alternative investments. If this review was helpful to you, feel free to check out other mutual fund and ETF reviews.
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