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Mid Cap Value Fund
  • A
  • 1

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Overview

The Strategy typically invests in mid-sized value stocks.

Inception Date
March 1, 2001
Investment Style
Mid Cap Value
Fund Index
Russell Midcap® Value Index
CUSIP
68380E817
NAV
  • B
(as of 01/18/2019)
$44.51
Total Assets
(as of 12/31/2018)
$991.65 MM
Gross Expense Ratio
(as of 12/31/2018)
1.40%
Net Expense Ratio
(as of 12/31/2018)
1.40%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2018
  • C
as of 12/31/2018
  • C

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • C
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Mid Cap Value Fund (NAV)
-18.26% -18.26% 3.49% 2.54% 10.53% 7.38%
Russell Midcap® Value Index
-12.29% -12.29% 6.06% 4.27% 11.67% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Mid Cap Value Fund (with sales charge)
-18.26% -18.26% 3.49% 2.54% 10.53% 7.38%
Russell Midcap® Value Index
-12.29% -12.29% 6.06% 4.27% 11.67% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Mid Cap Value Fund (NAV)
-18.26% -18.26% 3.49% 2.54% 10.53% 7.38%
Russell Midcap® Value Index
-12.29% -12.29% 6.06% 4.27% 11.67% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Mid Cap Value Fund (with sales charge)
-18.26% -18.26% 3.49% 2.54% 10.53% 7.38%
Russell Midcap® Value Index
-12.29% -12.29% 6.06% 4.27% 11.67% -
Gross Expense Ratio: 1.40% | Net Expense Ratio: 1.40%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions.  Class R shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
 


Year Mid Cap Value Fund Russell Midcap® Value Index
2002 -10.71% -9.87%
2003 45.79% 44.93%
2004 27.55% 21.58%
2005 11.35% 7.74%
2006 17.54% 20.18%
2007 8.75% -7.27%
2008 -50.11% -31.99%
2009 44.33% 27.68%
2010 20.26% 24.82%
2011 -7.79% -3.36%
2012 9.19% 19.21%
2013 37.45% 33.32%
2014 10.26% 7.11%
2015 -7.26% -3.55%
2016 19.98% 20.00%
2017 13.01% 13.34%
2018 -18.26% -12.29%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions.  Class R shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
 


Date Mid Cap Value Fund Russell Midcap® Value Index (Linked Index) S&P 500
12/31/2008 0.00 0.00 0.00
1/31/2009 -2.64 -11.67 -8.43
2/28/2009 -11.67 -23.04 -18.18
3/31/2009 -3.03 -16.32 -11.01
4/30/2009 11.78 -2.97 -2.49
5/31/2009 16.67 -0.55 2.96
6/30/2009 19.30 -0.62 3.16
7/31/2009 28.17 9.51 10.97
8/31/2009 33.61 16.03 14.97
9/30/2009 39.34 22.00 19.26
10/31/2009 32.32 14.63 17.05
11/30/2009 37.71 19.58 24.07
12/31/2009 44.33 27.68 26.46
1/31/2010 39.67 24.27 21.92
2/28/2010 44.95 30.32 25.69
3/31/2010 53.65 39.89 33.28
4/30/2010 58.02 48.02 35.38
5/31/2010 44.67 36.17 24.57
6/30/2010 35.69 25.67 18.05
7/31/2010 45.57 34.92 26.32
8/31/2010 38.22 27.42 20.62
9/30/2010 53.03 39.99 31.38
10/31/2010 59.60 45.45 36.38
11/30/2010 61.45 47.97 36.40
12/31/2010 73.57 59.36 45.51
1/31/2011 76.60 61.80 48.96
2/28/2011 81.76 68.83 54.07
3/31/2011 84.23 71.60 54.13
4/30/2011 91.25 75.60 58.69
5/31/2011 90.07 73.55 56.90
6/30/2011 85.13 69.08 54.28
7/31/2011 78.45 62.76 51.14
8/31/2011 63.08 49.44 42.93
9/30/2011 44.67 33.40 32.89
10/31/2011 62.40 51.98 47.41
11/30/2011 61.62 51.64 47.08
12/31/2011 60.04 54.01 48.59
1/31/2012 66.61 62.77 55.25
2/29/2012 72.17 67.48 61.96
3/31/2012 73.96 71.75 67.29
4/30/2012 70.43 70.71 66.24
5/31/2012 57.01 60.15 56.25
6/30/2012 58.53 66.56 62.69
7/31/2012 57.86 65.84 64.95
8/31/2012 62.57 71.44 68.66
9/30/2012 66.72 76.29 73.02
10/31/2012 68.86 75.61 69.82
11/30/2012 71.49 78.02 70.81
12/31/2012 74.75 83.60 72.37
1/31/2013 86.25 96.11 81.29
2/28/2013 91.19 99.17 83.76
3/31/2013 98.54 108.12 90.65
4/30/2013 98.37 108.69 94.32
5/31/2013 106.85 113.50 98.87
6/30/2013 105.67 111.33 96.19
7/31/2013 119.53 123.43 106.18
8/31/2013 111.34 114.06 100.21
9/30/2013 121.10 124.92 106.49
10/31/2013 129.29 134.17 115.98
11/30/2013 133.33 139.06 122.56
12/31/2013 140.18 144.79 128.19
1/31/2014 133.37 138.26 120.30
2/28/2014 143.84 149.99 130.38
3/31/2014 148.01 153.41 132.32
4/30/2014 144.91 150.50 134.03
5/31/2014 149.26 153.08 139.53
6/30/2014 157.52 164.04 144.48
7/31/2014 148.66 151.33 141.10
8/31/2014 158.48 162.45 150.75
9/30/2014 145.83 147.14 147.23
10/31/2014 153.63 158.13 153.27
11/30/2014 159.85 158.44 160.08
12/31/2014 164.84 162.18 159.43
1/31/2015 155.78 155.55 151.64
2/28/2015 173.04 167.36 166.10
3/31/2015 172.13 170.09 161.89
4/30/2015 170.21 166.23 164.41
5/31/2015 173.94 169.49 167.81
6/30/2015 169.02 166.67 162.62
7/31/2015 165.45 166.30 168.13
8/31/2015 150.72 153.71 151.95
9/30/2015 138.56 145.24 145.71
10/31/2015 152.67 160.21 166.44
11/30/2015 156.98 160.97 167.23
12/31/2015 145.61 152.89 163.02
1/31/2016 127.35 138.91 149.97
2/29/2016 128.83 140.59 149.63
3/31/2016 150.85 162.80 166.56
4/30/2016 154.88 168.44 167.60
5/31/2016 160.94 172.83 172.40
6/30/2016 158.71 175.32 173.11
7/31/2016 169.21 186.99 183.18
8/31/2016 175.74 186.38 183.58
9/30/2016 177.13 187.57 183.63
10/31/2016 168.78 180.60 178.46
11/30/2016 188.16 198.16 188.77
12/31/2016 194.67 203.46 194.48
1/31/2017 200.30 208.56 200.06
2/28/2017 209.46 217.18 211.98
3/31/2017 205.33 214.87 212.34
4/30/2017 205.16 215.46 215.55
5/31/2017 202.83 214.49 219.99
6/30/2017 204.52 219.17 221.98
7/31/2017 209.81 223.40 228.61
8/31/2017 205.77 217.36 229.61
9/30/2017 216.01 226.01 236.41
10/31/2017 222.27 228.64 244.26
11/30/2017 229.73 239.75 254.82
12/31/2017 233.01 243.95 258.76
1/31/2018 241.37 251.85 279.31
2/28/2018 222.65 234.52 265.33
3/31/2018 223.07 235.34 256.04
4/30/2018 224.28 237.00 257.41
5/31/2018 227.50 240.66 266.01
6/30/2018 226.30 243.41 268.27
7/31/2018 233.15 252.75 281.97
8/31/2018 240.73 257.55 294.42
9/30/2018 238.97 254.73 296.66
10/31/2018 205.34 229.17 269.55
11/30/2018 208.44 237.07 277.08
12/31/2018 172.23 201.68 243.03

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions.  Class R shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
 

$ per share as of 01/20/2019

Date 2014 2015 2016 2017 2018
Short Term 0.2501
Long Term 3.4605 4.2722
Total Amount of Distribution 3.4605 4.5222
Record Date 12/5/17 12/4/18
Ex Div Date 12/6/17 12/6/18
Pay Date 12/6/17 12/6/18

There is no guarantee of the payment of any dividend or other distributions at any level.

Portfolio

Top Issuers

(39.5% of assets as of 12/31/2018)


Portfolio Holdings Breakdown

Country
Developed Markets
Equity Sector
Industry
Asset Allocation
Market Cap 5
Country Mid Cap Value Fund Russell Midcap® Value Index Overweight / Underweight
United States 94.8% 99.7% -4.9%
Netherlands 2.5% - -
Israel 0.3% - -
Developed Markets Mid Cap Value Fund Russell Midcap® Value Index Overweight / Underweight
Americas 94.8% 99.7% -4.9%
Europe 2.5% - -
Middle East 0.3% - -
Equity Sector Mid Cap Value Fund Russell Midcap® Value Index Overweight / Underweight
Financials 19.8% 17.5% 2.2%
Health Care 12.1% 6.8% 5.3%
Industrials 10.3% 11.9% -1.6%
Real Estate 10.0% 14.2% -4.3%
Consumer Discretionary 9.8% 8.8% 1.0%
Information Technology 8.9% 8.4% 0.5%
Utilities 7.0% 12.0% -5.0%
Energy 6.6% 5.7% 0.8%
Materials 5.8% 6.2% -0.4%
Consumer Staples 5.7% 5.2% 0.6%
Communication Services 1.8% 3.3% -1.5%
Industry Mid Cap Value Fund Russell Midcap® Value Index Overweight / Underweight
Equity Real Estate Investment Trusts (REITs) 10.0% 13.8% -3.8%
Banks 8.7% 6.5% 2.2%
Insurance 6.2% 6.3% 0.0%
Oil Gas & Consumable Fuels 6.1% 5.1% 1.0%
Machinery 5.5% 4.0% 1.5%
Health Care Providers & Services 5.5% 1.9% 3.6%
Electric Utilities 5.4% 4.8% 0.7%
Auto Components 3.0% 0.7% 2.3%
Health Care Equipment & Supplies 2.5% 2.1% 0.4%
Specialty Retail 2.5% 1.6% 0.9%
Beverages 2.5% 0.3% 2.2%
Pharmaceuticals 2.5% 0.6% 1.9%
Food Products 2.4% 3.6% -1.2%
IT Services 2.4% 2.6% -0.2%
Capital Markets 2.3% 2.1% 0.3%
Road & Rail 2.2% 0.6% 1.7%
Software 2.1% 1.0% 1.1%
Diversified Financial Services 2.0% 0.4% 1.6%
Leisure Products 2.0% 0.2% 1.8%
Containers & Packaging 1.9% 1.8% 0.1%
Asset Allocation Mid Cap Value Fund Russell Midcap® Value Index Overweight / Underweight
Equity 97.6% 100.0% -2.4%
Market Cap Mid Cap Value Fund Russell Midcap® Value Index Overweight / Underweight
Mid 64.3% 66.4% -2.1%
Large 27.6% 28.1% -0.5%
Small 5.7% 5.5% 0.2%
Analytics
(As of 12/31/2018)

Morningstar 12/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
363
Category
Mid-Cap Value
Performance Statistics
3Y
5Y
Alpha
-2.89
-1.82
Beta
1.12
1.07
Information Ratio
-0.75
-0.48
R-Squared
95.21
93.21
Sharpe Ratio
0.24
0.20
Standard Deviation
13.95
13.24
Upside Capture
95.96
100.76
Downside Capture
114.32
113.23
Sortino Ratio
0.31
0.28
Win Ratio
42.00
42.00
Loss Ratio
58.00
58.00
Tracking Error
3.41
3.58
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$13.13 B
$12.84 B
Median Market Cap (weighted)
$10.66 B
$11.53 B
P/E Ratio (LTM)
15.40
15.37
P/E Ratio (NTM)
12.26
13.16
Price/Book
1.83
1.74
Debt to Capital Ratio
43.89
45.89
Turnover Ratio
71%
-
Active Share
82.20%
-
Dividends
  • E
Est. Frequency
Quarterly
Last Pay Date
12/6/2018
Per Share ($)
$0.0251
12-Month Distribution ($)
$0.1178
Distribution Sources
  • E
Net Income
0.80%
Net Profit from Sale
74.50%
Other Capital Sources
24.70%
Tools
Morningstar logo 95x28 trans
Documents
  1. 1. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Small and mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a small-sized or mid-sized company, if any gain is realized at all. Diversification does not guarantee profit or protect against loss.
  2. 2. The net expense ratio (where applicable) also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less.  These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.
  3. 3. The index returns are made up of the returns of (i) the Russell 2500™ Value Index from January, 3, 1989 through June 30, 2015, and (ii) The Russell Midcap® Value Index from July 1, 2015 to present.  Index performance includes total returns from when first available.  The Russell Midcap® Value Index measures the performance of the mid-cap value segment of the U.S. equity universe. It includes those Russell Midcap Index companies with lower price-to-book ratios and lower forecasted growth values.  The Russell 2500™ Value Index measures the performance of the small to mid-cap value segment of the U.S. equity universe. It includes those Russell 2500 Index companies with lower price-to-book ratios and lower forecasted growth values. The indices are unmanaged, are shown for illustrative purposes only, and cannot be purchased directly by investors.  Index performance is shown for illustrative purposes only and does not predict or depict performance of the Fund. Past performance does not guarantee future results.
  4. 4. Holdings are subject to change, and are dollar weighted based on total new assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the Fund’s net asset value and fluctuations of dividends and distributions paid by the Fund.
  5. 5. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund's prospectus.
  6. A. The Morningstar Rating&trade; for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. <b>The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.</b> The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not consider sales charges and are subject to change monthly. <strong>Past performance is no guarantee of future results</strong></p>
  7. B. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily.
  8. C. The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price and reinvested distributions.  Class R shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
     
  9. D. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund).  These returns would be lower if sales charges were taken into consideration.  Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.
  10. E. There is no guarantee of the payment of any dividend or other distributions at any level.
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