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Capital Appreciation Fund/VA

Overview

The Strategy typically invests in large-cap U.S. growth stocks.

Inception Date
April 3, 1985
Investment Style
Large Cap Growth
Fund Index
Russell 1000® Growth Index
CUSIP
683811301
NAV
  • A
(as of 12/15/2017)
$56.07
Total Assets
(as of 11/30/2017)
$875.00 MM
Gross Expense Ratio
(as of 11/30/2017)
0.83%
Net Expense Ratio
(as of 11/30/2017)
0.80%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 11/30/2017
  • B
as of 09/30/2017
  • B

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • B
Cumulative
Annualized
ytd as of 2017-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Capital Appreciation Fund/VA (NAV)
19.73% 18.02% 8.44% 12.44% 5.54% 10.03%
Russell 1000® Growth Index
20.72% 21.94% 12.69% 15.26% 9.08% -
Cumulative
Annualized
ytd as of 2017-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Capital Appreciation Fund/VA (with sales charge)
19.73% 18.02% 8.44% 12.44% 5.54% 10.03%
Russell 1000® Growth Index
20.72% 21.94% 12.69% 15.26% 9.08% -
Cumulative
Annualized
ytd as of 2017-11-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Capital Appreciation Fund/VA (NAV)
25.55% 26.82% 8.24% 13.82% 6.32% 10.14%
Russell 1000® Growth Index
29.21% 30.81% 13.10% 17.14% 9.87% -
Cumulative
Annualized
ytd as of 2017-11-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Capital Appreciation Fund/VA (with sales charge)
25.55% 26.82% 8.24% 13.82% 6.32% 10.14%
Russell 1000® Growth Index
29.21% 30.81% 13.10% 17.14% 9.87% -
Gross Expense Ratio: 0.83% | Net Expense Ratio: 0.80%

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. The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names. The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund. Such performance would have been lower if such charges were taken into account.


Year Capital Appreciation Fund/VA Russell 1000® Growth Index
1986 17.76% 15.36%
1987 3.31% 5.31%
1988 22.09% 11.27%
1989 23.59% 35.92%
1990 -8.21% -0.26%
1991 25.54% 41.27%
1992 14.53% 4.99%
1993 7.25% 2.87%
1994 0.97% 2.62%
1995 36.66% 37.18%
1996 25.20% 23.12%
1997 26.68% 30.49%
1998 24.00% 38.71%
1999 41.66% 33.16%
2000 -0.23% -22.42%
2001 -12.58% -20.42%
2002 -26.86% -27.88%
2003 30.94% 29.75%
2004 6.93% 6.30%
2005 5.10% 5.26%
2006 7.95% 9.07%
2007 14.15% 11.81%
2008 -45.52% -38.44%
2009 44.52% 37.21%
2010 9.42% 16.71%
2011 -1.15% 2.64%
2012 14.12% 15.26%
2013 29.74% 33.48%
2014 15.41% 13.05%
2015 3.54% 5.67%
2016 -2.20% 7.08%

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. The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names. The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund. Such performance would have been lower if such charges were taken into account.


Date Capital Appreciation Fund/VA Russell 1000® Growth Index MSCI World S&P 500
11/30/2007 0.00 0.00 0.00 0.00
12/31/2007 -0.23 -0.36 -1.29 -0.69
1/31/2008 -9.22 -8.13 -8.83 -6.65
2/29/2008 -11.23 -9.96 -9.36 -9.68
3/31/2008 -11.85 -10.50 -10.23 -10.07
4/30/2008 -4.67 -5.81 -5.51 -5.69
5/31/2008 -1.07 -2.35 -4.07 -4.47
6/30/2008 -8.93 -9.39 -11.72 -12.52
7/31/2008 -11.91 -11.11 -13.88 -13.26
8/31/2008 -11.53 -10.15 -15.09 -12.01
9/30/2008 -24.79 -20.56 -25.19 -19.85
10/31/2008 -39.25 -34.54 -39.37 -33.31
11/30/2008 -46.98 -39.75 -43.30 -38.09
12/31/2008 -45.64 -38.66 -41.48 -37.43
1/31/2009 -47.19 -41.61 -46.60 -42.71
2/28/2009 -50.60 -46.00 -52.07 -48.81
3/31/2009 -46.22 -41.19 -48.46 -44.32
4/30/2009 -40.37 -35.54 -42.67 -39.00
5/31/2009 -36.44 -32.34 -37.48 -35.58
6/30/2009 -35.95 -31.59 -37.76 -35.46
7/31/2009 -31.40 -26.73 -32.49 -30.57
8/31/2009 -30.46 -25.21 -29.70 -28.07
9/30/2009 -27.21 -22.03 -26.90 -25.38
10/31/2009 -28.89 -23.08 -28.20 -26.77
11/30/2009 -24.83 -18.36 -25.27 -22.38
12/31/2009 -21.45 -15.84 -23.93 -20.88
1/31/2010 -25.91 -19.51 -27.07 -23.72
2/28/2010 -23.57 -16.74 -26.04 -21.36
3/31/2010 -18.59 -11.93 -21.46 -16.62
4/30/2010 -19.57 -10.94 -21.45 -15.30
5/31/2010 -26.43 -17.74 -28.98 -22.06
6/30/2010 -30.64 -22.27 -31.41 -26.14
7/31/2010 -26.74 -16.73 -25.85 -20.97
8/31/2010 -29.77 -20.61 -28.62 -24.54
9/30/2010 -22.34 -12.16 -21.96 -17.80
10/31/2010 -18.84 -7.97 -19.05 -14.67
11/30/2010 -18.65 -6.90 -20.80 -14.66
12/31/2010 -14.05 -1.77 -14.98 -8.96
1/31/2011 -13.01 0.73 -13.06 -6.80
2/28/2011 -9.66 4.02 -10.01 -3.61
3/31/2011 -10.12 4.15 -10.90 -3.57
4/30/2011 -7.34 7.64 -7.12 -0.71
5/31/2011 -8.41 6.47 -9.04 -1.84
6/30/2011 -9.35 4.94 -10.48 -3.47
7/31/2011 -10.48 3.89 -12.11 -5.44
8/31/2011 -15.72 -1.59 -18.30 -10.57
9/30/2011 -22.67 -8.84 -25.35 -16.86
10/31/2011 -13.58 1.16 -17.63 -7.77
11/30/2011 -13.97 1.15 -19.64 -7.98
12/31/2011 -15.04 0.82 -19.69 -7.04
1/31/2012 -10.40 6.84 -15.66 -2.87
2/29/2012 -5.46 11.95 -11.54 1.33
3/31/2012 -3.00 15.63 -10.40 4.66
4/30/2012 -3.26 15.46 -11.42 4.01
5/31/2012 -9.67 8.05 -19.07 -2.24
6/30/2012 -8.03 10.98 -14.94 1.78
7/31/2012 -6.96 12.47 -13.85 3.20
8/31/2012 -3.73 15.50 -11.66 5.52
9/30/2012 -2.05 17.76 -9.24 8.25
10/31/2012 -5.39 14.32 -9.85 6.25
11/30/2012 -3.36 16.24 -8.70 6.87
12/31/2012 -3.04 16.21 -6.98 7.84
1/31/2013 0.92 21.19 -2.24 13.43
2/28/2013 2.14 22.70 -2.08 14.97
3/31/2013 5.50 27.30 0.21 19.28
4/30/2013 6.19 30.00 3.37 21.58
5/31/2013 8.00 32.42 3.41 24.42
6/30/2013 5.39 29.92 0.86 22.75
7/31/2013 10.80 36.81 6.17 29.00
8/31/2013 8.69 34.47 3.91 25.26
9/30/2013 13.51 40.46 9.11 29.19
10/31/2013 18.19 46.67 13.38 35.13
11/30/2013 21.75 50.81 15.39 39.24
12/31/2013 25.79 55.12 17.84 42.77
1/31/2014 22.14 50.70 13.47 37.83
2/28/2014 29.79 58.45 19.15 44.14
3/31/2014 25.75 56.86 19.32 45.35
4/30/2014 24.53 56.86 20.55 46.42
5/31/2014 29.84 61.75 22.92 49.86
6/30/2014 33.85 64.90 25.12 52.96
7/31/2014 34.10 62.38 23.12 50.85
8/31/2014 39.83 69.82 25.83 56.88
9/30/2014 38.04 67.35 22.42 54.68
10/31/2014 41.42 71.76 23.21 58.46
11/30/2014 45.56 77.21 25.68 62.72
12/31/2014 45.18 75.36 23.65 62.31
1/31/2015 42.96 72.68 21.41 57.44
2/28/2015 52.27 84.19 28.53 66.49
3/31/2015 50.32 82.09 26.51 63.85
4/30/2015 49.32 83.00 29.48 65.43
5/31/2015 51.53 85.58 29.93 67.55
6/30/2015 51.21 82.31 26.91 64.31
7/31/2015 55.60 88.49 29.18 67.75
8/31/2015 44.66 77.05 20.63 57.63
9/30/2015 38.67 72.67 16.19 53.73
10/31/2015 51.16 87.53 25.39 66.70
11/30/2015 52.68 88.06 24.77 67.19
12/31/2015 50.32 85.30 22.58 64.56
1/31/2016 39.73 74.96 15.24 56.39
2/29/2016 34.34 74.88 14.38 56.18
3/31/2016 39.78 86.67 22.15 66.78
4/30/2016 38.26 84.97 24.08 67.42
5/31/2016 42.84 88.56 24.78 70.43
6/30/2016 40.87 87.82 23.38 70.87
7/31/2016 48.53 96.69 28.59 77.17
8/31/2016 47.80 95.71 28.70 77.42
9/30/2016 49.14 96.43 29.38 77.45
10/31/2016 44.70 91.81 26.88 74.22
11/30/2016 45.55 95.99 28.70 80.67
12/31/2016 47.01 98.41 31.78 84.24
1/31/2017 53.15 105.10 34.96 87.73
2/28/2017 59.23 113.62 38.71 95.19
3/31/2017 62.12 116.09 40.18 95.42
4/30/2017 66.37 121.03 42.26 97.42
5/31/2017 69.41 126.78 45.27 100.20
6/30/2017 69.38 126.18 45.83 101.45
7/31/2017 72.26 132.19 49.32 105.59
8/31/2017 74.67 136.45 49.53 106.22
9/30/2017 76.01 139.52 52.88 110.48
10/31/2017 80.29 148.80 55.77 115.39
11/30/2017 84.58 156.36 59.15 121.99

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. The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names. The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund. Such performance would have been lower if such charges were taken into account.

$ per share as of 12/16/2017

Date 2013 2014 2015 2016 2017
Short Term 1.7122
Long Term 1.4691 10.0774 5.4637 5.0057
Total Amount of Distribution 1.4691 11.7896 5.4637 5.0057
Record Date 6/16/14 6/15/15 6/20/16 6/19/17
Ex Div Date 6/17/14 6/16/15 6/21/16 6/20/17
Pay Date 6/18/14 6/16/15 6/21/16 6/20/17

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

Portfolio

Top Issuers

(60.1% of assets as of 11/30/2017)


Portfolio Holdings Breakdown

Country 5
Developed Markets 5
Equity Sector 5
Industry 5
Asset Allocation 5
Market Cap 6
Country Capital Appreciation Fund/VA Russell 1000® Growth Index Overweight / Underweight
United States 96.4% 99.7% -3.3%
Canada 2.6% - -
Belgium 0.4% - -
Developed Markets Capital Appreciation Fund/VA Russell 1000® Growth Index Overweight / Underweight
Americas 99.0% 99.7% -0.7%
Europe 0.4% 0.2% 0.2%
Equity Sector Capital Appreciation Fund/VA Russell 1000® Growth Index Overweight / Underweight
Information Technology 40.1% 38.2% 1.9%
Consumer Discretionary 19.0% 17.9% 1.0%
Health Care 12.1% 13.2% -1.1%
Industrials 10.6% 12.6% -1.9%
Consumer Staples 5.9% 6.7% -0.8%
Financials 5.4% 3.4% 2.0%
Energy 2.3% 0.8% 1.5%
Utilities 2.1% 0.0% 2.1%
Materials 1.3% 3.7% -2.4%
Real Estate 0.5% 2.5% -2.1%
Industry Capital Appreciation Fund/VA Russell 1000® Growth Index Overweight / Underweight
Internet Software & Services 13.6% 8.4% 5.2%
Software 9.0% 9.0% 0.0%
Technology Hardware Storage & Peripherals 7.3% 7.2% 0.1%
IT Services 6.8% 7.6% -0.7%
Specialty Retail 6.0% 3.5% 2.4%
Internet & Direct Marketing Retail 5.5% 5.1% 0.4%
Biotechnology 4.6% 4.5% 0.1%
Capital Markets 4.4% 1.9% 2.4%
Hotels Restaurants & Leisure 3.3% 3.4% -0.1%
Semiconductors & Semiconductor Equipment 3.3% 4.9% -1.6%
Beverages 3.2% 2.9% 0.4%
Media 2.5% 3.1% -0.6%
Health Care Equipment & Supplies 2.5% 2.7% -0.2%
Machinery 2.4% 2.5% -0.1%
Oil Gas & Consumable Fuels 2.3% 0.6% 1.7%
Health Care Providers & Services 2.2% 2.8% -0.6%
Pharmaceuticals 2.0% 1.9% 0.2%
Commercial Services & Supplies 1.9% 0.5% 1.4%
Airlines 1.7% 0.4% 1.3%
Household Durables 1.7% 0.3% 1.4%
Asset Allocation Capital Appreciation Fund/VA Russell 1000® Growth Index Overweight / Underweight
Equity 99.4% 100.0% -0.6%
Market Cap Capital Appreciation Fund/VA Russell 1000® Growth Index Overweight / Underweight
Large 74.9% 82.1% -7.2%
Mid 19.3% 17.1% 2.1%
Small 5.2% 0.8% 4.4%
Analytics
(As of 11/30/2017)

Morningstar 11/30/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
238
Category
Large Growth
Performance Statistics
3Y
5Y
Alpha
-4.55
-3.29
Beta
1.02
1.03
Information Ratio
-1.30
-0.97
R-Squared
89.54
90.04
Sharpe Ratio
0.71
1.23
Standard Deviation
11.56
10.83
Upside Capture
91.08
94.68
Downside Capture
129.01
122.51
Sortino Ratio
0.33
0.64
Win Ratio
39.00
37.00
Loss Ratio
61.00
63.00
Tracking Error
3.74
3.43
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
6/20/2017
Per Share ($)
$0.1315
12-Month Distribution ($)
$0.1315
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$249.40 B
$227.90 B
Median Market Cap (weighted)
$82.80 B
$93.20 B
P/E Ratio (LTM)
24.17
26.55
P/E Ratio (NTM)
19.56
21.73
Price/Book
4.74
6.71
Return on Equity
23.68%
23.66%
Turnover Ratio
114.00%
-
Distribution Sources
  • D
Net Income
4.10%
Net Profit from Sale
25.80%
Other Capital Sources
70.10%
Documents
  1. 1. Paul Larson was added as portfolio manager of the Fund as of October 5, 2016. Michael Kotlarz will no longer be portfolio manager of the Fund as of October 5, 2016.
  2. 2. Special Risks: Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Investments in securities of growth companies may be volatile. Diversification does not guarantee profit or protect against loss.
  3. 3. 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.
  4. 4. Access index definitions.
  5. 5. Holdings are subject to change, and are dollar weighted based on total net 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.
  6. 6. 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.
  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. The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names. The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund. Such performance would have been lower if such charges were taken into account.
  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.
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