Overview
The Strategy typically invests in large-cap U.S. growth stocks.
- Inception Date
- January 22, 1981
- Investment Style
- Large Cap Growth
- Fund Index
- Russell 1000® Growth Index
- CUSIP
- 68379A107
- NAV
- A
- (as of 10/12/2018)
- $62.25
- Total Assets
- (as of 09/30/2018)
- $5.30 BN
- Gross Expense Ratio
- (as of 09/30/2018)
- 1.07%
- Net Expense Ratio
- (as of 09/30/2018)
- 1.07%
Performance
Average Annual Returns as of 09/30/2018
Average Annual Returns as of 09/30/2018
Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
- B
|
Cumulative
|
Annualized | |||||
|---|---|---|---|---|---|---|
ytd as of 2018-09-30
|
1 yr | 3 yr | 5 yr | 10 yr | since inception | |
| 12.90% | 19.52% | 14.74% | 12.89% | 10.44% | 11.90% | |
| 17.09% | 26.30% | 20.55% | 16.58% | 14.31% | - | |
|
Cumulative
|
Annualized | |||||
|---|---|---|---|---|---|---|
ytd as of 2018-09-30
|
1 yr | 3 yr | 5 yr | 10 yr | since inception | |
| 6.41% | 12.65% | 12.49% | 11.56% | 9.79% | 11.73% | |
| 17.09% | 26.30% | 20.55% | 16.58% | 14.31% | - | |
|
Cumulative
|
Annualized | |||||
|---|---|---|---|---|---|---|
ytd as of 2018-09-30
|
1 yr | 3 yr | 5 yr | 10 yr | since inception | |
| 12.90% | 19.52% | 14.74% | 12.89% | 10.44% | 11.90% | |
| 17.09% | 26.30% | 20.55% | 16.58% | 14.31% | - | |
|
Cumulative
|
Annualized | |||||
|---|---|---|---|---|---|---|
ytd as of 2018-09-30
|
1 yr | 3 yr | 5 yr | 10 yr | since inception | |
| 6.41% | 12.65% | 12.49% | 11.56% | 9.79% | 11.73% | |
| 17.09% | 26.30% | 20.55% | 16.58% | 14.31% | - | |
Gross Expense Ratio:
1.07%
| Net Expense Ratio:
1.07%
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.
Calendar Year Returns as of 09/30/2018
| Year | Capital Appreciation Fund | Russell 1000® Growth Index |
|---|---|---|
| 1982 | 81.32% | 20.46% |
| 1983 | 24.51% | 15.98% |
| 1984 | -17.47% | -0.95% |
| 1985 | 29.85% | 32.85% |
| 1986 | 8.28% | 7.14% |
| 1987 | -17.95% | 11.12% |
| 1988 | 32.39% | 8.57% |
| 1989 | 18.31% | 25.29% |
| 1990 | -2.13% | 0.30% |
| 1991 | 41.33% | 41.27% |
| 1992 | 10.27% | 4.99% |
| 1993 | 3.93% | 2.87% |
| 1994 | 0.46% | 2.62% |
| 1995 | 34.85% | 37.18% |
| 1996 | 27.96% | 23.12% |
| 1997 | 26.33% | 30.49% |
| 1998 | 24.04% | 38.71% |
| 1999 | 42.09% | 33.16% |
| 2000 | -1.29% | -22.42% |
| 2001 | -12.69% | -20.42% |
| 2002 | -26.26% | -27.88% |
| 2003 | 29.46% | 29.75% |
| 2004 | 6.46% | 6.30% |
| 2005 | 4.70% | 5.26% |
| 2006 | 7.51% | 9.07% |
| 2007 | 13.76% | 11.81% |
| 2008 | -45.90% | -38.44% |
| 2009 | 43.58% | 37.21% |
| 2010 | 9.14% | 16.71% |
| 2011 | -1.57% | 2.64% |
| 2012 | 13.69% | 15.26% |
| 2013 | 29.24% | 33.48% |
| 2014 | 15.07% | 13.05% |
| 2015 | 3.22% | 5.67% |
| 2016 | -2.34% | 7.08% |
| 2017 | 26.53% | 30.21% |
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.
Cumulative Returns & Income Dividends
| Date | Capital Appreciation Fund | Russell 1000® Growth Index | MSCI World | S&P 500 |
|---|---|---|---|---|
| 9/30/2008 | 0.00 | 0.00 | 0.00 | 0.00 |
| 10/31/2008 | -19.60 | -17.61 | -18.96 | -16.79 |
| 11/30/2008 | -29.83 | -24.16 | -24.21 | -22.77 |
| 12/31/2008 | -28.10 | -22.79 | -21.77 | -21.94 |
| 1/31/2009 | -30.25 | -26.50 | -28.63 | -28.52 |
| 2/28/2009 | -34.88 | -32.03 | -35.93 | -36.13 |
| 3/31/2009 | -29.01 | -25.97 | -31.10 | -30.54 |
| 4/30/2009 | -21.30 | -18.86 | -23.37 | -23.89 |
| 5/31/2009 | -16.16 | -14.84 | -16.43 | -19.63 |
| 6/30/2009 | -15.56 | -13.89 | -16.81 | -19.47 |
| 7/31/2009 | -9.67 | -7.77 | -9.76 | -13.38 |
| 8/31/2009 | -8.43 | -5.86 | -6.04 | -10.26 |
| 9/30/2009 | -4.19 | -1.85 | -2.29 | -6.91 |
| 10/31/2009 | -6.41 | -3.18 | -4.03 | -8.64 |
| 11/30/2009 | -1.11 | 2.77 | -0.11 | -3.16 |
| 12/31/2009 | 3.23 | 5.94 | 1.68 | -1.29 |
| 1/31/2010 | -2.64 | 1.32 | -2.52 | -4.84 |
| 2/28/2010 | 0.39 | 4.80 | -1.14 | -1.89 |
| 3/31/2010 | 6.90 | 10.86 | 4.98 | 4.03 |
| 4/30/2010 | 5.61 | 12.10 | 4.99 | 5.67 |
| 5/31/2010 | -3.46 | 3.54 | -5.06 | -2.76 |
| 6/30/2010 | -8.97 | -2.16 | -8.32 | -7.85 |
| 7/31/2010 | -3.85 | 4.82 | -0.89 | -1.40 |
| 8/31/2010 | -7.89 | -0.07 | -4.59 | -5.85 |
| 9/30/2010 | 1.89 | 10.56 | 4.31 | 2.55 |
| 10/31/2010 | 6.49 | 15.84 | 8.20 | 6.45 |
| 11/30/2010 | 6.72 | 17.19 | 5.86 | 6.47 |
| 12/31/2010 | 12.67 | 23.65 | 13.65 | 13.58 |
| 1/31/2011 | 13.99 | 26.79 | 16.21 | 16.28 |
| 2/28/2011 | 18.33 | 30.94 | 20.28 | 20.26 |
| 3/31/2011 | 17.68 | 31.10 | 19.10 | 20.31 |
| 4/30/2011 | 21.30 | 35.49 | 24.16 | 23.87 |
| 5/31/2011 | 19.88 | 34.02 | 21.58 | 22.47 |
| 6/30/2011 | 18.61 | 32.09 | 19.66 | 20.43 |
| 7/31/2011 | 17.11 | 30.77 | 17.49 | 17.98 |
| 8/31/2011 | 10.29 | 23.87 | 9.21 | 11.57 |
| 9/30/2011 | 1.22 | 14.74 | -0.22 | 3.73 |
| 10/31/2011 | 12.77 | 27.33 | 10.10 | 15.06 |
| 11/30/2011 | 12.25 | 27.32 | 7.41 | 14.81 |
| 12/31/2011 | 10.90 | 26.91 | 7.35 | 15.98 |
| 1/31/2012 | 16.85 | 34.49 | 12.74 | 21.18 |
| 2/29/2012 | 23.22 | 40.92 | 18.24 | 26.42 |
| 3/31/2012 | 26.38 | 45.55 | 19.76 | 30.58 |
| 4/30/2012 | 26.02 | 45.33 | 18.40 | 29.76 |
| 5/31/2012 | 17.71 | 36.01 | 8.18 | 21.96 |
| 6/30/2012 | 19.78 | 39.70 | 13.70 | 26.99 |
| 7/31/2012 | 21.13 | 41.57 | 15.16 | 28.75 |
| 8/31/2012 | 25.29 | 45.38 | 18.08 | 31.65 |
| 9/30/2012 | 27.42 | 48.23 | 21.32 | 35.05 |
| 10/31/2012 | 23.09 | 43.91 | 20.50 | 32.56 |
| 11/30/2012 | 25.68 | 46.32 | 22.04 | 33.33 |
| 12/31/2012 | 26.08 | 46.28 | 24.34 | 34.54 |
| 1/31/2013 | 31.24 | 52.55 | 30.67 | 41.51 |
| 2/28/2013 | 32.80 | 54.44 | 30.89 | 43.43 |
| 3/31/2013 | 37.13 | 60.24 | 33.95 | 48.81 |
| 4/30/2013 | 37.96 | 63.64 | 38.17 | 51.68 |
| 5/31/2013 | 40.25 | 66.68 | 38.22 | 55.23 |
| 6/30/2013 | 36.87 | 63.54 | 34.82 | 53.14 |
| 7/31/2013 | 43.85 | 72.21 | 41.92 | 60.94 |
| 8/31/2013 | 41.09 | 69.26 | 38.90 | 56.27 |
| 9/30/2013 | 47.24 | 76.80 | 45.84 | 61.18 |
| 10/31/2013 | 53.20 | 84.63 | 51.55 | 68.58 |
| 11/30/2013 | 57.77 | 89.83 | 54.24 | 73.72 |
| 12/31/2013 | 62.94 | 95.26 | 57.51 | 78.12 |
| 1/31/2014 | 58.20 | 89.69 | 51.67 | 71.96 |
| 2/28/2014 | 68.00 | 99.45 | 59.27 | 79.83 |
| 3/31/2014 | 62.78 | 97.44 | 59.50 | 81.34 |
| 4/30/2014 | 61.20 | 97.45 | 61.13 | 82.68 |
| 5/31/2014 | 68.03 | 103.60 | 64.30 | 86.97 |
| 6/30/2014 | 73.17 | 107.57 | 67.24 | 90.83 |
| 7/31/2014 | 73.39 | 104.39 | 64.57 | 88.20 |
| 8/31/2014 | 80.71 | 113.76 | 68.20 | 95.73 |
| 9/30/2014 | 78.37 | 110.66 | 63.63 | 92.98 |
| 10/31/2014 | 82.73 | 116.21 | 64.69 | 97.70 |
| 11/30/2014 | 88.01 | 123.06 | 67.99 | 103.01 |
| 12/31/2014 | 87.49 | 120.74 | 65.28 | 102.50 |
| 1/31/2015 | 84.55 | 117.36 | 62.29 | 96.42 |
| 2/28/2015 | 96.50 | 131.84 | 71.80 | 107.71 |
| 3/31/2015 | 93.94 | 129.21 | 69.11 | 104.43 |
| 4/30/2015 | 92.58 | 130.36 | 73.07 | 106.39 |
| 5/31/2015 | 95.42 | 133.60 | 73.67 | 109.04 |
| 6/30/2015 | 94.95 | 129.48 | 69.63 | 104.99 |
| 7/31/2015 | 100.54 | 137.26 | 72.68 | 109.29 |
| 8/31/2015 | 86.42 | 122.86 | 61.25 | 96.66 |
| 9/30/2015 | 78.74 | 117.34 | 55.30 | 91.80 |
| 10/31/2015 | 94.79 | 136.06 | 67.61 | 107.98 |
| 11/30/2015 | 96.65 | 136.72 | 66.78 | 108.59 |
| 12/31/2015 | 93.52 | 133.25 | 63.84 | 105.30 |
| 1/31/2016 | 79.88 | 120.22 | 54.04 | 95.12 |
| 2/29/2016 | 72.99 | 120.13 | 52.90 | 94.85 |
| 3/31/2016 | 79.95 | 134.98 | 63.27 | 108.07 |
| 4/30/2016 | 78.02 | 132.83 | 65.85 | 108.88 |
| 5/31/2016 | 83.83 | 137.35 | 66.79 | 112.63 |
| 6/30/2016 | 81.28 | 136.42 | 64.92 | 113.18 |
| 7/31/2016 | 91.19 | 147.58 | 71.88 | 121.04 |
| 8/31/2016 | 90.18 | 146.35 | 72.03 | 121.35 |
| 9/30/2016 | 91.87 | 147.25 | 72.94 | 121.39 |
| 10/31/2016 | 86.09 | 141.44 | 69.59 | 117.35 |
| 11/30/2016 | 87.13 | 146.70 | 72.03 | 125.40 |
| 12/31/2016 | 88.99 | 149.75 | 76.15 | 129.86 |
| 1/31/2017 | 96.89 | 158.17 | 80.40 | 134.22 |
| 2/28/2017 | 104.72 | 168.89 | 85.41 | 143.52 |
| 3/31/2017 | 108.39 | 172.00 | 87.38 | 143.80 |
| 4/30/2017 | 113.78 | 178.22 | 90.16 | 146.31 |
| 5/31/2017 | 117.68 | 185.46 | 94.18 | 149.77 |
| 6/30/2017 | 117.57 | 184.70 | 94.93 | 151.33 |
| 7/31/2017 | 121.20 | 192.27 | 99.59 | 156.50 |
| 8/31/2017 | 124.23 | 197.63 | 99.87 | 157.28 |
| 9/30/2017 | 125.88 | 201.50 | 104.36 | 162.59 |
| 10/31/2017 | 131.35 | 213.18 | 108.22 | 168.72 |
| 11/30/2017 | 136.78 | 222.70 | 112.73 | 176.96 |
| 12/31/2017 | 139.12 | 225.21 | 115.61 | 180.04 |
| 1/31/2018 | 155.71 | 248.24 | 126.99 | 196.07 |
| 2/28/2018 | 146.37 | 239.11 | 117.59 | 185.16 |
| 3/31/2018 | 137.32 | 229.81 | 112.85 | 177.91 |
| 4/30/2018 | 137.97 | 230.96 | 115.29 | 178.98 |
| 5/31/2018 | 149.28 | 245.47 | 116.64 | 185.70 |
| 6/30/2018 | 150.14 | 248.80 | 116.54 | 187.46 |
| 7/31/2018 | 158.41 | 259.04 | 123.30 | 198.15 |
| 8/31/2018 | 169.59 | 278.67 | 126.06 | 207.87 |
| 9/30/2018 | 169.96 | 280.78 | 127.32 | 209.62 |
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.
Capital Gains and Distributions ($ per share) as of 10/15/2018
| Date | 2013 | 2014 | 2015 | 2016 | 2017 |
|---|---|---|---|---|---|
| Short Term | — | 1.6941 | 0.3461 | — | 1.8556 |
| Long Term | 2.5532 | 7.8660 | 7.0818 | 2.1269 | 3.5868 |
| Total Amount of Distribution | 2.5532 | 9.5601 | 7.4279 | 2.1269 | 5.4424 |
| Record Date | 12/9/13 | 12/8/14 | 12/4/15 | 12/2/16 | 12/13/17 |
| Ex Div Date | 12/10/13 | 12/9/14 | 12/7/15 | 12/5/16 | 12/14/17 |
| Pay Date | 12/11/13 | 12/9/14 | 12/7/15 | 12/5/16 | 12/14/17 |
There is no guarantee of the payment of any dividend or other distributions at any level.
Portfolio
Top Issuers
(61.1% of assets as of 09/30/2018)
Domestic Equity
CLASS A: OPTFX
Portfolio Holdings Breakdown
as of
09/30/2018
| Country | Capital Appreciation Fund | Russell 1000® Growth Index | Overweight / Underweight |
|---|---|---|---|
| United States | 96.5% | 100.0% | -3.5% |
| Canada | 1.6% | - | - |
| United Kingdom | 0.9% | - | - |
| Belgium | 0.4% | - | - |
| Developed Markets | Capital Appreciation Fund | Russell 1000® Growth Index | Overweight / Underweight |
|---|---|---|---|
| Americas | 98.1% | 100.0% | -1.8% |
| Europe | 1.2% | 0.0% | 1.2% |
| Equity Sector | Capital Appreciation Fund | Russell 1000® Growth Index | Overweight / Underweight |
|---|---|---|---|
| Information Technology | 31.1% | 32.6% | -1.5% |
| Consumer Discretionary | 19.2% | 15.4% | 3.8% |
| Health Care | 13.6% | 13.8% | -0.2% |
| Communication Services | 11.5% | 12.0% | -0.5% |
| Industrials | 10.6% | 12.0% | -1.4% |
| Financials | 5.6% | 4.2% | 1.4% |
| Consumer Staples | 2.7% | 5.4% | -2.8% |
| Energy | 2.2% | 0.9% | 1.3% |
| Materials | 1.6% | 1.7% | -0.1% |
| Utilities | 1.3% | - | - |
| Industry | Capital Appreciation Fund | Russell 1000® Growth Index | Overweight / Underweight |
|---|---|---|---|
| Software | 12.6% | 10.6% | 1.9% |
| Interactive Media & Services | 9.5% | 8.4% | 1.1% |
| Internet & Direct Marketing Retail | 9.3% | 6.9% | 2.4% |
| Specialty Retail | 6.6% | 4.0% | 2.6% |
| IT Services | 6.5% | 8.3% | -1.9% |
| Technology Hardware Storage & Peripherals | 6.4% | 8.1% | -1.6% |
| Biotechnology | 5.8% | 5.0% | 0.8% |
| Semiconductors & Semiconductor Equipment | 5.0% | 4.2% | 0.7% |
| Health Care Providers & Services | 4.5% | 3.3% | 1.2% |
| Capital Markets | 4.5% | 2.1% | 2.4% |
| Hotels Restaurants & Leisure | 3.3% | 2.0% | 1.4% |
| Machinery | 2.4% | 2.2% | 0.2% |
| Aerospace & Defense | 2.2% | 3.6% | -1.4% |
| Oil Gas & Consumable Fuels | 2.2% | 0.6% | 1.6% |
| Road & Rail | 2.0% | 1.2% | 0.8% |
| Airlines | 1.6% | 0.2% | 1.4% |
| Entertainment | 1.6% | 2.9% | -1.2% |
| Commercial Services & Supplies | 1.5% | 0.5% | 0.9% |
| Health Care Equipment & Supplies | 1.3% | 2.6% | -1.3% |
| Gas Utilities | 1.3% | - | - |
| Asset Allocation | Capital Appreciation Fund | Russell 1000® Growth Index | Overweight / Underweight |
|---|---|---|---|
| Equity | 99.4% | 100.0% | -0.6% |
| Market Cap | Capital Appreciation Fund | Russell 1000® Growth Index | Overweight / Underweight |
|---|---|---|---|
| Large | 81.8% | 86.8% | -5.0% |
| Mid | 13.3% | 13.0% | 0.2% |
| Small | 4.3% | 0.2% | 4.1% |
Analytics
Morningstar
09/30/2018
(based on risk adjusted performance)
Overall Rating
Number of Funds
1258
Category
Large Growth
Performance Statistics
3Y
5Y
Alpha
-5.61
-3.73
Beta
1.04
1.04
Information Ratio
-1.67
-1.08
R-Squared
90.28
90.79
Sharpe Ratio
1.22
1.09
Standard Deviation
11.10
11.24
Upside Capture
92.26
94.86
Downside Capture
153.20
126.44
Sortino Ratio
2.24
1.93
Win Ratio
33.00
37.00
Loss Ratio
67.00
63.00
Tracking Error
3.48
3.43
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$313.76 B
$320.13 B
Median Market Cap (weighted)
$98.52 B
$115.25 B
P/E Ratio (LTM)
24.93
26.79
P/E Ratio (NTM)
19.90
21.63
Price/Book
6.03
8.00
Return on Equity
23.88%
23.27%
Turnover Ratio
63%
-
Active Share
60.47%
-
Dividends
- D
Est. Frequency
Annual
Last Pay Date
12/14/2017
Per Share ($)
$0.0081
12-Month Distribution ($)
$0.0081
Distribution Sources
- D
Net Income
1.10%
Net Profit from Sale
82.90%
Other Capital Sources
16.00%
Documents
- 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. 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. 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. 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. 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. 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.
- 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. ↩
- 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. ↩
- 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. ↩
- D. There is no guarantee of the payment of any dividend or other distributions at any level. ↩