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ODIIX

Discovery Fund

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Special Notice

As of 6/28/13, the purchase and exchange of Fund shares is restricted, subject to certain exceptions. Please see the prospectus for further information.

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Overview

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

Inception Date
January 27, 2012
Investment Style
Small Cap Growth
Fund Index
Russell 2000® Growth Index
CUSIP
683921605
NAV
  • C
(as of 01/23/2019)
$79.79
Total Assets
(as of 12/31/2018)
$2.07 BN
Gross Expense Ratio
(as of 12/31/2018)
0.67%
Net Expense Ratio
(as of 12/31/2018)
0.67%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 12/31/2018
  • D
as of 12/31/2018
  • D

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
3 mo ytd as of 2018-12-31
  • E
1 yr 3 yr 5 yr since inception
Discovery Fund (NAV)
-21.04% -3.20% -3.20% 9.53% 5.74% 11.62%
Russell 2000® Growth Index
-21.65% -9.31% -9.31% 7.24% 5.13% 3.65%
Cumulative
Annualized
3 mo ytd as of 2018-12-31
  • E
1 yr 3 yr 5 yr since inception
Discovery Fund (NAV)
-21.04% -3.20% -3.20% 9.53% 5.74% 11.62%
Russell 2000® Growth Index
-21.65% -9.31% -9.31% 7.24% 5.13% 3.65%
Gross Expense Ratio: 0.67% | Net Expense Ratio: 0.67%

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 Discovery Fund Russell 2000® Growth Index
2013 46.85% 43.30%
2014 -1.76% 5.60%
2015 2.40% -1.38%
2016 4.69% 11.32%
2017 29.64% 22.17%
2018 -3.20% -9.31%

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 Discovery Fund Russell 2000® Growth Index MSCI World S&P 500
12/31/2013 0.00 0.00 0.00 0.00
1/31/2014 -1.56 -1.73 -3.70 -3.46
2/28/2014 3.57 3.02 1.12 0.96
3/31/2014 -2.28 0.48 1.26 1.81
4/30/2014 -10.81 -4.67 2.30 2.56
5/31/2014 -11.08 -3.75 4.31 4.97
6/30/2014 -4.44 2.22 6.18 7.14
7/31/2014 -10.29 -3.97 4.49 5.66
8/31/2014 -6.01 1.38 6.79 9.89
9/30/2014 -8.98 -4.05 3.89 8.34
10/31/2014 -4.23 1.90 4.56 10.99
11/30/2014 -3.28 2.56 6.66 13.98
12/31/2014 -1.75 5.60 4.94 13.69
1/31/2015 -3.48 3.19 3.04 10.28
2/28/2015 3.80 10.62 9.07 16.61
3/31/2015 5.64 12.61 7.36 14.77
4/30/2015 1.91 9.29 9.88 15.87
5/31/2015 6.94 13.31 10.26 17.36
6/30/2015 9.49 14.83 7.70 15.09
7/31/2015 13.10 15.30 9.63 17.50
8/31/2015 3.84 6.56 2.38 10.41
9/30/2015 -0.90 -0.17 -1.40 7.68
10/31/2015 2.92 5.50 6.41 16.76
11/30/2015 4.57 9.36 5.88 17.11
12/31/2015 0.61 4.14 4.02 15.26
1/31/2016 -8.94 -7.14 -2.20 9.54
2/29/2016 -10.75 -7.80 -2.93 9.39
3/31/2016 -5.11 -0.73 3.66 16.82
4/30/2016 -3.54 0.26 5.30 17.27
5/31/2016 -0.88 2.96 5.89 19.37
6/30/2016 1.43 2.49 4.70 19.68
7/31/2016 5.71 9.19 9.13 24.10
8/31/2016 6.14 10.35 9.22 24.27
9/30/2016 6.16 11.94 9.80 24.29
10/31/2016 0.76 4.98 7.67 22.03
11/30/2016 6.91 14.37 9.22 26.55
12/31/2016 5.33 15.93 11.84 29.05
1/31/2017 9.89 17.81 14.53 31.49
2/28/2017 12.37 20.70 17.71 36.72
3/31/2017 14.64 22.13 18.97 36.88
4/30/2017 17.49 24.38 20.73 38.28
5/31/2017 19.25 23.25 23.28 40.23
6/30/2017 20.65 27.49 23.76 41.10
7/31/2017 22.27 28.58 26.72 44.00
8/31/2017 22.08 28.43 26.90 44.44
9/30/2017 27.51 35.42 29.74 47.42
10/31/2017 32.32 37.52 32.20 50.86
11/30/2017 36.47 41.47 35.06 55.49
12/31/2017 36.55 41.63 36.89 57.22
1/31/2018 42.78 47.15 44.11 66.22
2/28/2018 40.76 42.96 38.14 60.10
3/31/2018 42.22 44.89 35.13 56.03
4/30/2018 41.58 45.03 36.69 56.63
5/31/2018 52.78 54.16 37.54 60.40
6/30/2018 53.09 55.37 37.48 61.38
7/31/2018 55.47 58.04 41.77 67.39
8/31/2018 68.86 67.88 43.52 72.84
9/30/2018 67.42 63.95 44.32 73.83
10/31/2018 47.62 43.20 33.73 61.95
11/30/2018 49.02 45.44 35.25 65.25
12/31/2018 32.18 28.45 24.96 50.33

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 01/23/2019

Date 2014 2015 2016 2017 2018
Short Term 0.8881
Long Term 7.0126 4.6368 2.9326 9.6645 11.0579
Total Amount of Distribution 7.0126 4.6368 2.9326 9.6645 11.9460
Record Date 12/2/14 12/2/15 12/5/16 12/4/17 12/6/18
Ex Div Date 12/3/14 12/3/15 12/6/16 12/5/17 12/7/18
Pay Date 12/3/14 12/3/15 12/6/16 12/5/17 12/7/18

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

Portfolio

Top Issuers

(38.6% of assets as of 12/31/2018)


Portfolio Holdings Breakdown

Country
Developed Markets
Equity Sector
Industry
Asset Allocation
Market Cap 6
Country Discovery Fund Russell 2000® Growth Index Overweight / Underweight
United States 95.6% 99.9% -4.3%
Canada 0.9% 0.1% 0.8%
Developed Markets Discovery Fund Russell 2000® Growth Index Overweight / Underweight
Americas 96.5% 100.0% -3.5%
Equity Sector Discovery Fund Russell 2000® Growth Index Overweight / Underweight
Health Care 26.5% 26.3% 0.2%
Information Technology 20.7% 18.5% 2.2%
Consumer Discretionary 18.3% 14.8% 3.5%
Industrials 14.3% 17.7% -3.4%
Financials 8.3% 7.5% 0.8%
Materials 3.9% 3.4% 0.5%
Consumer Staples 2.5% 3.1% -0.7%
Communication Services 1.3% 3.5% -2.2%
Energy 0.7% 1.7% -1.0%
Industry Discovery Fund Russell 2000® Growth Index Overweight / Underweight
Software 12.9% 9.9% 3.0%
Health Care Equipment & Supplies 11.9% 6.5% 5.4%
Hotels Restaurants & Leisure 6.2% 4.6% 1.7%
Biotechnology 6.0% 11.3% -5.2%
Aerospace & Defense 4.6% 1.1% 3.5%
Machinery 4.2% 4.6% -0.4%
Life Sciences Tools & Services 4.2% 0.7% 3.6%
Diversified Consumer Services 3.3% 1.0% 2.3%
Chemicals 3.0% 2.3% 0.7%
Health Care Providers & Services 2.8% 2.9% -0.1%
Insurance 2.4% 1.5% 0.9%
Building Products 2.3% 2.0% 0.4%
IT Services 2.2% 2.1% 0.1%
Semiconductors & Semiconductor Equipment 2.1% 3.6% -1.4%
Distributors 2.0% 0.0% 1.9%
Banks 2.0% 2.7% -0.7%
Capital Markets 1.9% 1.4% 0.5%
Consumer Finance 1.9% 0.9% 1.1%
Internet Software & Services 1.8% 0.4% 1.4%
Food Products 1.8% 0.9% 1.0%
Asset Allocation Discovery Fund Russell 2000® Growth Index Overweight / Underweight
Equity 96.5% 100.0% -3.5%
Market Cap Discovery Fund Russell 2000® Growth Index Overweight / Underweight
Mid 60.0% 17.8% 42.2%
Small 36.5% 82.2% -45.8%
Analytics
(As of 12/31/2018)

Morningstar 12/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
583
Category
Small Growth
Analyst Rating (as of 7/19/18)
Silver
Performance Statistics
3Y
5Y
Alpha
2.72
0.93
Beta
0.90
0.93
Information Ratio
0.44
0.11
R-Squared
90.43
89.60
Sharpe Ratio
0.59
0.39
Standard Deviation
15.73
16.00
Upside Capture
93.63
95.54
Downside Capture
79.25
91.70
Sortino Ratio
0.80
0.53
Win Ratio
53.00
52.00
Loss Ratio
47.00
48.00
Tracking Error
5.18
5.30
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$4.06 B
$2.20 B
Median Market Cap (weighted)
$4.18 B
$2.00 B
P/E Ratio (LTM)
41.86
29.07
P/E Ratio (NTM)
29.57
21.06
Price/Book
5.00
3.53
Return on Equity
6.46%
8.82%
EPS Growth Rate 3Y
42.22%
16.42%
EPS Growth Rate 5Y
42.22%
16.42%
Sales Growth Rate 3Y
19.24%
12.56%
Sales Growth Rate 5Y
19.24%
-
Turnover Ratio
91%
-
Active Share
85.20%
-
Dividends
  • F
Est. Frequency
Annual
Last Pay Date
12/7/2018
Per Share ($)
$0.0000
12-Month Distribution ($)
$0.0000
Distribution Sources
  • F
Net Income
0.00%
Net Profit from Sale
100.00%
Other Capital Sources
0.00%
Documents
  1. 1. Small-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 company, if any gain is realized at all. Investments in securities of growth companies may be volatile. Diversification does not guarantee profit or protect against loss.
  2. 2. 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.
  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 2000® Growth Index measures the performance of the small-cap growth segment of the U.S. equity universe. It includes those Russell 2000 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. The Morningstar Analyst Rating is not a credit or risk rating, but a subjective evaluation performed by the analysts of Morningstar, Inc. (Mstar.) Mstar evaluates funds based on five key pillars (process, performance, people, parent and price). Mstar’s analysts use this evaluation to identify funds they believe are morelikely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors and the weighting of each pillar may vary. The Analyst Rating reflects an overall assessment and is overseen by Morningstar’s Analyst Rating Committee. The analyst rating scale is five-tiered, with threepositive ratings (Gold, Silver, Bronze), a Neutral Rating and a Negative Rating, with Gold being the highest rating and Negative being the lowest rating. The Mstar analyst Ratings should not be used as the sole basis in evaluating a mutual fund and are based on Mstar’s current expectations about future events. Mstar does not represent ratings as a guarantee. Analyst Ratings involve unknown risks and uncertainties which may causeMstar’s expectations not to occur or to differ significantly.
  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. Effective 6/28/13, the purchase and exchange of Fund shares is restricted, subject to certain exceptions. Please see the prospectus supplement for further information.
  10. C. 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.
  11. D. 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.
  12. E. "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.
  13. F. There is no guarantee of the payment of any dividend or other distributions at any level.
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