Fund Evaluator:
KBI Global Investors Aquarius Instl (KBIWX)
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Best Performing in Natural Resources Over the Last Year
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Fund Details
KBI Global Investors Aquarius Instl Overview
KBI Global Investors Aquarius Instl (KBIWX) is an actively managed Sector Equity Natural Resources fund. KBI launched the fund in 2018.
The investment seeks long-term total return, consisting of capital appreciation and income. Under normal circumstances, the fund principally invests in equity securities, without regard to market capitalization, of companies whose main business is in the water-related resource sector or that are significantly involved in the water-related resource sector. Water-related resource sector activities may include, but are not limited to, water treatment, engineering, filtration, environmental controls, water-related equipment, water and wastewater services, and water utilities. It is non-diversified.
About KBI Global Investors Aquarius Instl (KBIWX)
There are 3 members of the management team with an average tenure of 7.93 years: Catherine Cahill (2018), Matthew Sheldon (2018), Martin Conroy (2018). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI ACWI NR USD index with a weighting of 100%. KBI Global Investors Aquarius Instl has 51 securities in its portfolio. The top 10 holdings constitute 37.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is considered to have an ESG focus with its investment selection and management.
KBI Global Investors Aquarius Instl is part of the Equity global asset class and is within the Sector Equity fund group. KBI Global Investors Aquarius Instl has 35.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 62.0%. There is 35.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). KBI Global Investors Aquarius Instl has 2.0% of the portfolio in cash.
Assets Under Management
The fund has $41 million in total assets, which is below the $246 million average for the Natural Resources category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
KBIWX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The KBI Global Investors Aquarius Instl expense ratio is high compared to funds in the Natural Resources category. KBI Global Investors Aquarius Instl has an expense ratio of 1.00%, which is 13% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. KBI Global Investors Aquarius Instl has a portfolio turnover rate of 52%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 61% for the Natural Resources category.
Recently, in the month of August 2026, KBI Global Investors Aquarius Instl returned -0.1%, which earned it a grade of F, as the Natural Resources category had an average return of 7.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
KBI Global Investors Aquarius Instl has a trailing yield of 1.06%, which is below the 2.01% category average. The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
KBI Global Investors Aquarius Instl Grades
Year to date, the fund has returned 6.2%, 16.3 percentage points worse than the category, which translates into a grade of F. The fund has returned 5.1% over the past year (grade of F), 10.9% over the past three years (grade of D) and 5.8% per year over the past five years (grade of F).
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KBIWX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| KBIWX Return (NAV) | -0.1% | 4.3% | 5.1% | 10.9% | 5.8% | na |
| KBIWX Grade | F | C | F | D | F | na |
| +/- Category | -7.8% | 0.7% | -30.4% | -4.7% | -7.5% | na |
| Natural Resources Avg | 7.7% | 3.6% | 35.5% | 15.6% | 13.3% | 10.3% |
| KBIWX Tax Cost Ratio | na | na | 2.3% | 2.8% | 2.8% | na |
KBIWX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| KBIWX Return (NAV) | 6.2% | 14.0% | 4.5% | 19.5% | -14.3% | 27.3% | 13.5% | 24.3% | na | na | na |
| KBIWX Grade | F | F | A | A | F | C | C | A | na | na | na |
| +/- Category | -16.3% | -14.6% | 5.0% | 16.1% | -22.4% | -3.5% | 3.9% | 9.5% | na | na | na |
| Natural Resources Avg | 22.5% | 28.6% | -0.5% | 3.4% | 8.0% | 30.8% | 9.6% | 14.8% | -20.5% | 13.1% | 28.6% |
| Risk Measures | |
| Standard Deviation: | 14.6% |
| Total Risk Index: | 1.20 - Above Average |
| Category Risk Index: | 0.81 - Low |
| Category Risk Grade: | A (4% Rank) |
| Beta: | 0.87 |
| R-Squared: | 55% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.1% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $41 Mil |
| Fund Total Assets: | $ 42 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 52% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 7.9 years | |||
| Average Tenure: 7.9 years | |||
| Managers (Year): Cahill Catherine (2018), Sheldon Matthew (2018), Conroy Martin (2018) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 51 |
| % in Top 10 Holdings: | 37.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 35.9% |
Portfolio Allocation |
|
| Domestic Stock: | 62.0% |
| Foreign Stock: | 35.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 2.0% |
Purchase Information
| Fund Family: | KBI |
| Phone Number: | 833-658-4739 |
| Website: |
| Status: | Open |
| Inception Date: | October 12, 2018 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 2.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.00% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.15% |
| Share Class: | KBI Global Investors Aquarius Instl |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
