TCPSX — Telecommunications
Data updated: 2023-04-03
TCPSX — Telecommunications. Leveraged · $536.76K AUM · 2.78% expense ratio · -22.4% 1-yr return. Holdings, fees, performance and SEC filings.
TCPSX Fund Overview
TCPSX — Telecommunications is a US mutual fund managed by ProFunds, categorised as Leveraged. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: ProFunds
- Category: Leveraged
- Assets under management: $536.76K
- 1-year return: -22.4%
- Ticker: TCPSX
- SEC CIK: 0001039803
- SEC series ID: S000003098
- Share class ID: C000008412
TCPSX Investment Objective and Strategy
Telecommunications describes its objective and strategy as follows, from its latest prospectus filed with the SEC by ProFunds.
Investment objective
The Fund seeks daily investment results, before fees and expenses, that correspond to one and one-half times (1.5x) the daily performance of the Index. The Fund does not seek to achieve its stated investment objective over a period of time greater than a single day.
Principal investment strategy
"The Fund invests in financial instruments that ProFund Advisors believes, in combination, should produce daily returns consistent with the Fund's investment objective. The Index is constructed and maintained by S&P Dow Jones Indices LLC. The Index seeks to measure the performance of certain companies in the telecommunications sector of the U.S. equity market. Component companies include regional and long-distance carriers; cellular, satellite and paging service providers; producers of equipment including satellites, mobile telephones, fiber optics, switching devices, teleconferencing equipment and connectivity devices for computers. The Index is published under the Bloomberg ticker symbol DJSTEL. The Fund will invest principally in the financial instruments set forth below. The Fund expects that its cash balances maintained in connection with the use of financial instruments will typically be held in money market instruments.
Equity Securities The Fund invests in common stock issued by public companies. Derivatives The Fund invests in derivatives, which are financial instruments whose value is derived from the value of an underlying asset or assets, such as stocks, bonds or funds (including exchange-traded funds (ETFs)), interest rates or indexes. The Fund invests in derivatives as a substitute for investing directly in stocks in order to seek returns for a single day that are leveraged (1.5x) to the returns of the Index for that day. These derivatives principally include: Swap Agreements Contracts entered into primarily with major global financial institutions for a specified period ranging from a day to more than one year. In a standard swap transaction, two parties agree to exchange the return (or differentials in rates of return) earned or realized on particular predetermined investments or instruments.
The gross return to be exchanged or swapped between the parties is calculated with respect to a notional amount, e.g., the return on or change in value of a particular dollar amount invested in a basket of securities or an ETF representing a particular index. Money Market Instruments The Fund invests in short-term cash instruments that have a remaining maturity of 397 days or less and exhibit high quality credit profiles, for example: U.S. Treasury Bills U.S. government securities that have initial maturities of one year or less, and are supported by the full faith and credit of the U.S. government. Repurchase Agreements Contracts in which a seller of securities, usually U.S. government securities or other highly liquid securities, agrees to buy the securities back at a specified time and price.
Repurchase agreements are primarily used by the Fund as a short-term investment vehicle for cash positions. ProFund Advisors uses a mathematical approach to investing. Using this approach, ProFund Advisors determines the type, quantity and mix of investment positions that it believes, in combination, the Fund should hold to produce daily returns consistent with the Fund's investment objective. The Fund may invest in or gain exposure to only a representative sample of the securities in the Index or to securities not contained in the Index or in financial instruments, with the intent of obtaining exposure with aggregate characteristics similar to those of a multiple of the single day returns of the Index. In managing the assets of the Fund, ProFund Advisors does not invest the assets of the Fund in securities or financial instruments based on ProFund Advisors view of the investment merit of a particular security, instrument, or company, nor does it conduct conventional investment research or analysis or forecast market movement or trends.
The Fund seeks to remain fully invested at all times in securities and/or financial instruments that, in combination, provide leveraged exposure to the single day returns of the Index, consistent with its investment objective, without regard to market conditions, trends or direction. The Fund seeks investment results for a single day only as calculated from NAV to NAV, not for any other period. The Fund seeks to engage in daily rebalancing to position its portfolio so that its exposure to the Index is consistent with the Funds daily investment objective. The Indexs movements during the day will affect whether the Funds portfolio needs to be rebalanced. For example, if the Index has risen on a given day, net assets of the Fund should rise. As a result, the Funds exposure will need to be increased.
Conversely, if the Index has fallen on a given day, net assets of the Fund should fall. As a result, the Funds exposure will need to be decreased. Daily rebalancing and the compounding of each days return over time means that the return of the Fund for a period longer than a single day will be the result of each days returns compounded over the period, which will very likely differ in amount, and possibly even direction, from one and one-half times (1.5x) the return of the Index for the same period. The Fund will lose money if the Index's performance is flat over time, and it is possible that the Fund will lose money over time regardless of the performance of the Index, as a result of daily rebalancing, the Indexs volatility, compounding and other factors. See Principal Risks,"" below. The Fund will concentrate its investments in a particular industry or group of industries to approximately the same extent as the Index is so concentrated.
As of the close of business on September 30, 2018, the Index was concentrated in the information technology, communication services, technology hardware and equipment and telecommunication services industry groups. Please see Investment Objectives, Principal Investment Strategies and Related Risks in the Funds Full Prospectus for additional details."
TCPSX Performance
Total returns for TCPSX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -22.4% |
| 3 years (annualised) | -3.1% |
TCPSX Risk Information
Risk metrics for TCPSX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 31.4%
TCPSX Costs and Fees
TCPSX costs about $278 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.78%
- Gross expense ratio: 5.57%
- Portfolio turnover: 229%
- Brokerage commissions: 4.45 bps of average net assets (SEC N-CEN)
TCPSX Cashflows
Over the 12 months to 2023-01, Telecommunications had net inflows of $19.46M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-01 | $352.63K |
| 2022-12 | $1.15M |
| 2022-11 | $1.49M |
| 2022-10 | $1.62M |
| 2022-09 | $1.64M |
| 2022-08 | $1.70M |
TCPSX Debt Constituents
No individual debt constituents are reported in Telecommunications's latest SEC N-PORT filing.
TCPSX Prospectus and SEC Filings
Official Telecommunications filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-11-23
- Prospectus (485BPOS) — filed 2021-11-23
- Prospectus (485BPOS) — filed 2020-11-23
- Portfolio holdings (N-PORT) — filed 2023-04-03
- Portfolio holdings (N-PORT) — filed 2022-12-27
- Portfolio holdings (N-PORT) — filed 2022-09-28
- Annual census (N-CEN) — filed 2022-10-13
- Annual census (N-CEN) — filed 2021-10-13
Related Funds
Other Leveraged funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.