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Capital Appreciation Fund

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Overview

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

Inception Date
December 29, 2011
Investment Style
Large Cap Growth
Fund Index
Russell 1000® Growth Index
CUSIP
68379A602
NAV
  • B
(as of 03/19/2019)
$63.94
Total Assets
(as of 02/28/2019)
$3.84 BN
Gross Expense Ratio
(as of 02/28/2019)
0.63%
Net Expense Ratio
(as of 02/28/2019)
0.63%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 02/28/2019
  • G
as of 12/31/2018
  • G

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Capital Appreciation Fund (NAV)
-5.58% -5.58% 5.56% 7.09% - 11.05%
Russell 1000® Growth Index
-1.51% -1.51% 11.15% 10.40% 15.29% -
Cumulative
Annualized
ytd as of 2019-02-28
  • D
1 yr 3 yr 5 yr 10 yr since inception
Capital Appreciation Fund (NAV)
13.12% 3.58% 14.17% 9.09% - 12.71%
Russell 1000® Growth Index
12.89% 6.62% 17.99% 12.63% 18.19% -
Gross Expense Ratio: 0.63% | Net Expense Ratio: 0.63%

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.


Year Capital Appreciation Fund Russell 1000® Growth Index
2012 14.25% 15.26%
2013 29.82% 33.48%
2014 15.55% 13.05%
2015 3.66% 5.67%
2016 -1.93% 7.08%
2017 27.04% 30.21%
2018 -5.58% -1.51%

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.


Date Capital Appreciation Fund Russell 1000® Growth Index MSCI World S&P 500
2/28/2009 0.00 0.00 0.00 0.00
3/31/2009 9.01 8.92 7.54 8.76
4/30/2009 20.84 19.38 19.60 19.17
5/31/2009 28.74 25.29 30.44 25.83
6/30/2009 29.65 26.70 29.85 26.08
7/31/2009 38.71 35.69 40.85 35.62
8/31/2009 40.61 38.51 46.66 40.52
9/30/2009 47.12 44.40 52.51 45.76
10/31/2009 43.71 42.44 49.79 43.05
11/30/2009 51.85 51.20 55.92 51.63
12/31/2009 58.52 55.87 58.72 54.56
1/31/2010 49.50 49.07 52.16 49.00
2/28/2010 54.15 54.19 54.30 53.62
3/31/2010 64.15 63.11 63.86 62.89
4/30/2010 62.17 64.93 63.88 65.46
5/31/2010 48.23 52.34 48.18 52.25
6/30/2010 39.78 43.95 43.10 44.28
7/31/2010 47.64 54.22 54.70 54.39
8/31/2010 41.45 47.02 48.93 47.42
9/30/2010 56.45 62.67 62.81 60.57
10/31/2010 63.52 70.44 68.88 66.68
11/30/2010 63.87 72.42 65.24 66.70
12/31/2010 73.01 81.92 77.39 77.84
1/31/2011 75.03 86.54 81.39 82.06
2/28/2011 81.70 92.65 87.74 88.30
3/31/2011 80.71 92.88 85.89 88.37
4/30/2011 86.26 99.34 93.79 93.95
5/31/2011 84.08 97.17 89.77 91.76
6/30/2011 82.14 94.35 86.77 88.56
7/31/2011 79.83 92.40 83.38 84.72
8/31/2011 69.35 82.24 70.46 74.69
9/30/2011 55.42 68.82 55.74 62.41
10/31/2011 73.16 87.34 71.85 80.16
11/30/2011 72.37 87.32 67.65 79.76
12/31/2011 70.28 86.72 67.56 81.60
1/31/2012 79.43 97.87 75.97 89.74
2/29/2012 89.21 107.33 84.56 97.94
3/31/2012 94.06 114.15 86.93 104.46
4/30/2012 93.51 113.82 84.81 103.17
5/31/2012 80.74 100.10 68.86 90.96
6/30/2012 83.92 105.54 77.46 98.83
7/31/2012 85.99 108.29 79.74 101.59
8/31/2012 92.39 113.90 84.30 106.13
9/30/2012 95.65 118.09 89.36 111.46
10/31/2012 89.01 111.72 88.08 107.56
11/30/2012 92.99 115.27 90.49 108.76
12/31/2012 93.59 115.21 94.08 110.66
1/31/2013 101.52 124.43 103.96 121.57
2/28/2013 103.92 127.23 104.30 124.58
3/31/2013 110.56 135.75 109.08 133.00
4/30/2013 111.84 140.76 115.67 137.49
5/31/2013 115.36 145.23 115.75 143.05
6/30/2013 110.16 140.61 110.43 139.79
7/31/2013 120.89 153.37 121.51 151.99
8/31/2013 116.64 149.03 116.80 144.69
9/30/2013 126.09 160.13 127.64 152.36
10/31/2013 135.25 171.63 136.55 163.96
11/30/2013 142.25 179.30 140.75 172.01
12/31/2013 150.20 187.27 145.85 178.89
1/31/2014 142.93 179.08 136.74 169.25
2/28/2014 157.97 193.45 148.59 181.57
3/31/2014 149.95 190.49 148.95 183.93
4/30/2014 147.53 190.50 151.50 186.03
5/31/2014 158.01 199.55 156.45 192.75
6/30/2014 165.91 205.39 161.04 198.79
7/31/2014 166.25 200.72 156.87 194.67
8/31/2014 177.49 214.50 162.53 206.46
9/30/2014 173.90 209.93 155.41 202.16
10/31/2014 180.58 218.10 157.06 209.54
11/30/2014 188.69 228.18 162.21 217.87
12/31/2014 187.90 224.76 157.99 217.07
1/31/2015 183.38 219.79 153.31 207.55
2/28/2015 201.73 241.11 168.15 225.23
3/31/2015 197.80 237.23 163.95 220.08
4/30/2015 195.71 238.91 170.14 223.15
5/31/2015 200.08 243.69 171.08 227.31
6/30/2015 199.35 237.63 164.77 220.97
7/31/2015 207.94 249.08 169.52 227.70
8/31/2015 186.25 227.88 151.69 207.93
9/30/2015 174.46 219.77 142.41 200.31
10/31/2015 199.11 247.30 161.61 225.64
11/30/2015 201.97 248.28 160.31 226.61
12/31/2015 197.16 243.17 155.74 221.46
1/31/2016 176.22 224.01 140.44 205.50
2/29/2016 165.63 223.87 138.65 205.09
3/31/2016 176.33 245.71 154.84 225.79
4/30/2016 173.35 242.56 158.88 227.05
5/31/2016 182.28 249.21 160.33 232.93
6/30/2016 178.36 247.84 157.41 233.79
7/31/2016 193.58 264.26 168.29 246.09
8/31/2016 192.03 262.45 168.51 246.58
9/30/2016 194.62 263.77 169.94 246.65
10/31/2016 185.75 255.23 164.71 240.32
11/30/2016 187.35 262.96 168.52 252.93
12/31/2016 190.20 267.45 174.94 259.90
1/31/2017 202.33 279.83 181.58 266.73
2/28/2017 214.35 295.61 189.39 281.29
3/31/2017 219.99 300.19 192.48 281.73
4/30/2017 228.27 309.34 196.81 285.65
5/31/2017 234.25 319.98 203.08 291.08
6/30/2017 234.08 318.88 204.25 293.52
7/31/2017 239.66 330.01 211.53 301.61
8/31/2017 244.32 337.89 211.97 302.84
9/30/2017 246.85 343.59 218.97 311.15
10/31/2017 255.24 360.77 225.00 320.75
11/30/2017 263.58 374.77 232.04 333.65
12/31/2017 267.18 378.47 236.53 338.47
1/31/2018 292.65 412.36 254.30 363.58
2/28/2018 278.31 398.92 239.62 346.49
3/31/2018 264.41 385.24 232.22 335.15
4/30/2018 265.42 386.94 236.04 336.82
5/31/2018 282.77 408.28 238.15 347.33
6/30/2018 284.09 413.17 237.98 350.09
7/31/2018 296.80 428.24 248.54 366.84
8/31/2018 313.97 457.12 252.85 382.05
9/30/2018 314.54 460.23 254.82 384.79
10/31/2018 276.67 410.13 228.76 351.66
11/30/2018 279.69 415.55 232.50 360.86
12/31/2018 245.29 371.23 207.22 319.25
1/31/2019 282.87 413.58 231.12 352.85
2/28/2019 289.30 431.96 241.08 367.39

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.

$ per share as of 03/19/2019

Date 2014 2015 2016 2017 2018
Short Term 1.6941 0.3461 1.8556 0.4362
Long Term 7.8660 7.0818 2.1269 3.5868 4.2007
Total Amount of Distribution 9.5601 7.4279 2.1269 5.4424 4.6369
Record Date 12/8/14 12/4/15 12/2/16 12/13/17 12/12/18
Ex Div Date 12/9/14 12/7/15 12/5/16 12/14/17 12/13/18
Pay Date 12/9/14 12/7/15 12/5/16 12/14/17 12/13/18

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

Portfolio

Top Issuers

(62.4% of assets as of 02/28/2019)


Portfolio Holdings Breakdown

Country
Developed Markets
Equity Sector
Industry
Asset Allocation
Market Cap 6
Country Capital Appreciation Fund Russell 1000® Growth Index Overweight / Underweight
United States 93.8% 100.0% -6.2%
China 1.6% 0.0% 1.6%
Canada 1.5% - -
United Kingdom 0.7% - -
Belgium 0.4% - -
Developed Markets Capital Appreciation Fund Russell 1000® Growth Index Overweight / Underweight
Americas 95.3% 100.0% -4.6%
Europe 1.1% 0.0% 1.1%
Equity Sector Capital Appreciation Fund Russell 1000® Growth Index Overweight / Underweight
Information Technology 30.9% 32.2% -1.3%
Consumer Discretionary 19.9% 14.9% 5.0%
Communication Services 12.2% 12.0% 0.2%
Industrials 11.5% 12.4% -0.9%
Health Care 11.3% 13.5% -2.2%
Financials 5.3% 4.5% 0.9%
Energy 2.4% 0.7% 1.6%
Materials 1.5% 1.8% -0.3%
Utilities 1.5% - -
Consumer Staples 1.4% 5.6% -4.2%
Industry Capital Appreciation Fund Russell 1000® Growth Index Overweight / Underweight
Software 13.0% 11.7% 1.2%
Interactive Media & Services 11.4% 8.6% 2.9%
Internet & Direct Marketing Retail 9.7% 6.0% 3.6%
IT Services 7.2% 8.7% -1.5%
Specialty Retail 6.8% 3.9% 2.8%
Technology Hardware Storage & Peripherals 5.0% 6.5% -1.5%
Health Care Providers & Services 4.4% 3.0% 1.3%
Biotechnology 4.3% 4.9% -0.6%
Semiconductors & Semiconductor Equipment 4.2% 4.0% 0.2%
Hotels Restaurants & Leisure 3.5% 2.1% 1.3%
Capital Markets 3.0% 2.3% 0.8%
Aerospace & Defense 2.9% 3.9% -1.0%
Road & Rail 2.6% 1.3% 1.3%
Oil Gas & Consumable Fuels 2.4% 0.5% 1.8%
Machinery 2.3% 2.3% 0.0%
Communications Equipment 1.5% 0.2% 1.3%
Gas Utilities 1.5% - -
Airlines 1.4% 0.2% 1.2%
Commercial Services & Supplies 1.3% 0.6% 0.7%
Insurance 1.3% 1.0% 0.3%
Asset Allocation Capital Appreciation Fund Russell 1000® Growth Index Overweight / Underweight
Equity 98.0% 100.0% -2.0%
Market Cap Capital Appreciation Fund Russell 1000® Growth Index Overweight / Underweight
Large 81.4% 87.6% -6.2%
Mid 11.2% 12.1% -0.9%
Small 5.4% 0.3% 5.1%
Analytics
(As of 02/28/2019)

Morningstar 02/28/2019 (based on risk adjusted performance)
Overall Rating
Number of Funds
1254
Category
Large Growth
Performance Statistics
3Y
5Y
Alpha
-3.57
-3.57
Beta
1.02
1.04
Information Ratio
-1.25
-1.00
R-Squared
94.64
92.91
Sharpe Ratio
0.98
0.67
Standard Deviation
13.15
13.23
Upside Capture
92.45
94.80
Downside Capture
114.29
118.66
Sortino Ratio
1.54
1.04
Win Ratio
33.00
37.00
Loss Ratio
67.00
63.00
Tracking Error
3.06
3.55
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$283.10 B
$266.90 B
Median Market Cap (weighted)
$93.48 B
$102.86 B
P/E Ratio (LTM)
22.45
23.26
P/E Ratio (NTM)
18.71
20.11
Price/Book
5.76
7.16
Return on Equity
24.06%
28.57%
Turnover Ratio
29%
-
Active Share
62.80%
-
Dividends
  • E
Est. Frequency
Annual
Last Pay Date
12/13/2018
Per Share ($)
$0.1431
12-Month Distribution ($)
$0.1431
Distribution Sources
  • E
Net Income
0.30%
Net Profit from Sale
99.70%
Other Capital Sources
0.00%
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. 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. The Russell 1000® Growth Index measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values. The index is unmanaged 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.
  5. 5. 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.
  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. 7. 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.
  8. 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>
  9. 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.
  10. C. 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.
  11. 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.
  12. E. There is no guarantee of the payment of any dividend or other distributions at any level.
  13. F. 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.
  14. G. 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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