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QSCNX

Mid Cap Value Fund

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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
  • A
(as of 09/21/2018)
$56.51
Total Assets
(as of 08/31/2018)
$1.30 BN
Gross Expense Ratio
(as of 08/31/2018)
1.40%
Net Expense Ratio
(as of 08/31/2018)
1.40%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 08/31/2018
as of 06/30/2018

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
Cumulative
Annualized
ytd as of 2018-06-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Mid Cap Value Fund (NAV)
-2.02% 7.15% 6.65% 9.67% 6.38% 8.74%
Russell Midcap® Value Index
-0.16% 7.60% 8.80% 10.20% 9.81% -
Cumulative
Annualized
ytd as of 2018-06-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Mid Cap Value Fund (with sales charge)
-2.02% 7.15% 6.65% 9.67% 6.38% 8.74%
Russell Midcap® Value Index
-0.16% 7.60% 8.80% 10.20% 9.81% -
Cumulative
Annualized
ytd as of 2018-08-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Mid Cap Value Fund (NAV)
2.32% 11.43% 10.77% 10.02% 6.99% 8.92%
Russell Midcap® Value Index
3.95% 12.67% 12.12% 10.81% 9.62% -
Cumulative
Annualized
ytd as of 2018-08-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Mid Cap Value Fund (with sales charge)
2.32% 11.43% 10.77% 10.02% 6.99% 8.92%
Russell Midcap® Value Index
3.95% 12.67% 12.12% 10.81% 9.62% -
Gross Expense Ratio: 1.40% | Net Expense Ratio: 1.40%

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%

Date Mid Cap Value Fund Russell Midcap® Value Index (Linked Index) S&P 500
8/31/2008 0.00 0.00 0.00
9/30/2008 -16.08 -6.70 -8.91
10/31/2008 -37.50 -25.97 -24.21
11/30/2008 -44.91 -33.71 -29.65
12/31/2008 -42.24 -29.90 -28.90
1/31/2009 -43.78 -38.08 -34.89
2/28/2009 -48.97 -46.05 -41.82
3/31/2009 -43.97 -41.34 -36.73
4/30/2009 -35.42 -31.98 -30.67
5/31/2009 -32.56 -30.28 -26.79
6/30/2009 -31.02 -30.33 -26.65
7/31/2009 -25.90 -23.23 -21.10
8/31/2009 -22.76 -18.66 -18.25
9/30/2009 -19.43 -14.47 -15.20
10/31/2009 -23.48 -19.64 -16.78
11/30/2009 -20.34 -16.17 -11.79
12/31/2009 -16.47 -10.49 -10.08
1/31/2010 -19.14 -12.88 -13.32
2/28/2010 -16.09 -8.64 -10.63
3/31/2010 -11.04 -1.93 -5.24
4/30/2010 -8.49 3.77 -3.74
5/31/2010 -16.19 -4.54 -11.43
6/30/2010 -21.37 -11.90 -16.07
7/31/2010 -15.62 -5.42 -10.18
8/31/2010 -19.90 -10.67 -14.24
9/30/2010 -11.29 -1.86 -6.59
10/31/2010 -7.48 1.97 -3.03
11/30/2010 -6.38 3.74 -3.02
12/31/2010 0.69 11.72 3.46
1/31/2011 2.45 13.43 5.91
2/28/2011 5.49 18.35 9.54
3/31/2011 6.91 20.30 9.59
4/30/2011 11.03 23.10 12.83
5/31/2011 10.37 21.66 11.56
6/30/2011 7.54 18.53 9.70
7/31/2011 3.70 14.10 7.46
8/31/2011 -5.22 4.77 1.63
9/30/2011 -15.91 -6.48 -5.52
10/31/2011 -5.57 6.54 4.81
11/30/2011 -6.01 6.30 4.58
12/31/2011 -6.89 7.97 5.65
1/31/2012 -3.05 14.11 10.38
2/29/2012 0.22 17.41 15.16
3/31/2012 1.25 20.41 18.94
4/30/2012 -0.76 19.67 18.20
5/31/2012 -8.52 12.27 11.09
6/30/2012 -7.64 16.76 15.67
7/31/2012 -7.99 16.26 17.28
8/31/2012 -5.22 20.19 19.92
9/30/2012 -2.80 23.59 23.02
10/31/2012 -1.54 23.11 20.75
11/30/2012 0.03 24.80 21.45
12/31/2012 1.94 28.71 22.55
1/31/2013 8.67 37.48 28.90
2/28/2013 11.60 39.63 30.65
3/31/2013 15.91 45.90 35.55
4/30/2013 15.81 46.30 38.16
5/31/2013 20.78 49.67 41.40
6/30/2013 20.12 48.15 39.50
7/31/2013 28.27 56.64 46.60
8/31/2013 23.49 50.06 42.35
9/30/2013 29.24 57.68 46.81
10/31/2013 34.06 64.17 53.56
11/30/2013 36.45 67.59 58.24
12/31/2013 40.44 71.61 62.25
1/31/2014 36.48 67.03 56.64
2/28/2014 42.66 75.26 63.80
3/31/2014 45.16 77.65 65.18
4/30/2014 43.35 75.61 66.40
5/31/2014 45.96 77.42 70.31
6/30/2014 50.81 85.11 73.83
7/31/2014 45.64 76.20 71.43
8/31/2014 51.42 83.99 78.29
9/30/2014 44.06 73.26 75.79
10/31/2014 48.68 80.96 80.08
11/30/2014 52.34 81.18 84.92
12/31/2014 55.28 83.80 84.46
1/31/2015 50.02 79.15 78.92
2/28/2015 60.16 87.43 89.20
3/31/2015 59.69 89.35 86.21
4/30/2015 58.57 86.64 88.00
5/31/2015 60.81 88.93 90.41
6/30/2015 57.93 86.95 86.73
7/31/2015 55.88 86.69 90.64
8/31/2015 47.26 77.86 79.14
9/30/2015 40.15 71.92 74.71
10/31/2015 48.49 82.42 89.44
11/30/2015 51.05 82.95 90.01
12/31/2015 44.39 77.29 87.01
1/31/2016 33.66 67.49 77.73
2/29/2016 34.56 68.66 77.49
3/31/2016 47.54 84.23 89.53
4/30/2016 49.95 88.19 90.27
5/31/2016 53.57 91.27 93.68
6/30/2016 52.29 93.01 94.18
7/31/2016 58.52 101.19 101.34
8/31/2016 62.37 100.77 101.63
9/30/2016 63.22 101.60 101.66
10/31/2016 58.33 96.72 97.99
11/30/2016 69.80 109.03 105.32
12/31/2016 73.66 112.74 109.38
1/31/2017 77.01 116.32 113.35
2/28/2017 82.44 122.36 121.82
3/31/2017 80.04 120.74 122.08
4/30/2017 80.01 121.16 124.36
5/31/2017 78.65 120.47 127.51
6/30/2017 79.68 123.75 128.94
7/31/2017 82.87 126.72 133.64
8/31/2017 80.51 122.48 134.36
9/30/2017 86.61 128.55 139.19
10/31/2017 90.32 130.39 144.77
11/30/2017 94.74 138.18 152.28
12/31/2017 96.73 141.13 155.09
1/31/2018 101.74 146.67 169.69
2/28/2018 90.70 134.51 159.75
3/31/2018 90.97 135.09 153.15
4/30/2018 91.73 136.26 154.12
5/31/2018 93.71 138.82 160.24
6/30/2018 93.02 140.75 161.84
7/31/2018 97.14 147.29 171.59
8/31/2018 101.67 150.66 180.44
$ per share as of 09/24/2018

Date 2013 2014 2015 2016 2017
Short Term
Long Term 3.4605
Total Amount of Distribution 3.4605
Record Date 12/5/17
Ex Div Date 12/6/17
Pay Date 12/6/17

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

Portfolio

Top Issuers

(39.1% of assets as of 08/31/2018)


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 95.9% 99.5% -3.7%
Netherlands 1.8% - -
Israel 0.3% - -
Developed Markets Mid Cap Value Fund Russell Midcap® Value Index Overweight / Underweight
Americas 95.9% 99.5% -3.7%
Europe 1.8% 0.2% 1.6%
Middle East 0.3% - -
Equity Sector Mid Cap Value Fund Russell Midcap® Value Index Overweight / Underweight
Financials 21.8% 18.2% 3.6%
Consumer Discretionary 10.6% 11.3% -0.7%
Health Care 10.4% 6.7% 3.7%
Industrials 10.3% 12.4% -2.0%
Energy 10.0% 7.7% 2.3%
Real Estate 8.5% 12.9% -4.5%
Information Technology 7.9% 9.3% -1.4%
Materials 7.1% 6.1% 1.0%
Utilities 6.9% 10.0% -3.1%
Consumer Staples 4.6% 5.0% -0.4%
Industry Mid Cap Value Fund Russell Midcap® Value Index Overweight / Underweight
Banks 11.2% 7.3% 3.9%
Equity Real Estate Investment Trusts (REITs) 8.5% 12.5% -4.0%
Oil Gas & Consumable Fuels 8.5% 6.7% 1.8%
Electric Utilities 5.4% 4.2% 1.2%
Machinery 4.6% 3.9% 0.7%
Insurance 4.3% 5.9% -1.6%
Health Care Providers & Services 4.2% 2.0% 2.1%
Capital Markets 3.8% 2.2% 1.5%
Specialty Retail 3.0% 1.6% 1.4%
Pharmaceuticals 2.7% 0.8% 2.0%
Chemicals 2.6% 2.3% 0.2%
Containers & Packaging 2.6% 1.7% 0.9%
Health Care Equipment & Supplies 2.3% 1.8% 0.5%
Leisure Products 2.2% 0.3% 2.0%
Software 2.1% 1.7% 0.3%
Food Products 2.1% 3.4% -1.3%
Road & Rail 2.0% 0.6% 1.3%
Metals & Mining 2.0% 1.9% 0.0%
Diversified Financial Services 1.9% 0.4% 1.5%
Beverages 1.8% 0.3% 1.5%
Asset Allocation Mid Cap Value Fund Russell Midcap® Value Index Overweight / Underweight
Equity 98.0% 100.0% -2.0%
Market Cap Mid Cap Value Fund Russell Midcap® Value Index Overweight / Underweight
Mid 64.6% 61.5% 3.1%
Large 30.2% 36.6% -6.4%
Small 3.3% 1.9% 1.3%
Analytics
(As of 08/31/2018)

Morningstar 08/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
372
Category
Mid-Cap Value
Performance Statistics
3Y
5Y
Alpha
-2.25
-0.98
Beta
1.11
1.03
Information Ratio
-0.42
-0.24
R-Squared
93.08
91.65
Sharpe Ratio
0.88
0.86
Standard Deviation
11.51
11.35
Upside Capture
100.78
101.43
Downside Capture
117.56
110.20
Sortino Ratio
1.45
1.41
Win Ratio
42.00
42.00
Loss Ratio
58.00
58.00
Tracking Error
3.21
3.30
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$14.59 B
$14.87 B
Median Market Cap (weighted)
$11.84 B
$14.05 B
P/E Ratio (LTM)
20.23
19.51
P/E Ratio (NTM)
15.64
15.71
Price/Book
2.46
2.10
Debt to Capital Ratio
44.07
45.45
Turnover Ratio
63%
-
Active Share
84.00%
-
Dividends
  • D
Est. Frequency
Quarterly
Last Pay Date
9/18/2018
Per Share ($)
$0.0597
12-Month Distribution ($)
$0.0678
Distribution Sources
  • D
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
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. 6. Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $1 million or more and to retirement plan service provider platforms. The minimum account balance for class I shares is $2.5 million.  Class I shares are sold at net asset value without a sales charge.  Please see Fund prospectuses for additional information.
  7. A. 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. B. The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated.  Returns do not consider capital gains or income taxes on an individual's investment.
  9. C. "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. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  11. E. The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original 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 and a 1% contingent deferred sales charge for the first year where indicated.  Class C shares are subject to a 0.75% annual asset-backed sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
  12. F. The performance data quoted represents past performance, which does not guarantee future results.  The investments return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original 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 I shares are not subject to a sales charge.  Returns do not consider capital gains or income taxes on an individual's investment.
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