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Individual Investor
×

Revenue Weighted Strategy

The strategy is comprised of the same securities as the S&P 600 Index. Each security in the fund is ranked by top line revenue, instead of market capitalization.
Cumulative Total Returns

as of 4/30/17

Since Inception 2/19/08
185%
Performance & Distributions
×

Revenue Weighted Strategy

Gross Expense Ratio:
      0.56%
    Net Expense Ratio:   0.39%

    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. Returns do not consider capital gains or income taxes on an individual's investment.

    On 2/22/2008 and 3/31/2008 for RWJ, the last trade price was used to calculate market return because 4:00pm EST midpoint bid/ask prices are not available on those dates.

    The NAV return is based on the net asset value of the Fund and the market return (MKT) is based on the market price per share of the Fund. The price used to calculate MKT is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the Fund are listed for trading when the Fund's NAV is calculated at market close. MKT and NAV assume dividends and capital gain distributions have been reinvested in the Fund at market price and NAV, respectively. Returns less than one year are cumulative.

    "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.

    Returns are preliminary and subject to change until the first business day of the month.

    Cumulative Returns
    • A

    Compare to Indices

    Small Cap Revenue ETF
    VALUE of $10,000.00

    Calendar Year Returns %
    Data as of 5/26/17
      2009 2010 2011 2012 2013 2014 2015 2016 YTD
    Small Cap Revenue ETF 48.21 25.68 -0.74 18.58 45.54 6.49 -8.51 30.51 -3.33
    S&P 600 Small Cap Index 25.57 26.31 1.02 16.33 41.31 5.76 -1.97 26.56
    Capital Gains Distributions ($ per share)
    Data as of 5/28/17
      2012 2013 2014 2015 2016
    Short Term 0.0111
    Long Term 0.1306 0.1214 0.0969
    Total Amount of Distribution 0.1417 0.1214 0.0969
    Record Date 12/31/12 12/31/13 12/31/14
    Ex Div Date 12/27/12 12/27/13 12/29/14
    Pay Date 1/4/13 1/3/14 1/5/15

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

    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. Returns do not consider capital gains or income taxes on an individual's investment.

    Average Annual Total Returns
    • B

    as of 4/28/17

    as of 3/31/17

    YTD (as of 5/26/17)
    -3.33%
    1 Year 21.23% 21.30%
    3 Year 8.52% 8.52%
    5 Year 14.87% 14.87%
    Since Inception 12.11% 12.11%
    YTD (as of 5/26/17)
    -3.33%
    1 Year 23.22% 23.23%
    3 Year 7.41% 7.39%
    5 Year 13.96% 13.93%
    Since Inception 12.10% 12.10%
    Performance History with Indices
    ×
    Gross Expense Ratio
    0.56%
    Net Expense Ratio
    0.39%
    NAV
    • C
    as of 5/26/17
    $64.73
    Closing Price
    as of 5/25/2017
    Market Close $64.84
    Bid/Ask Midpoint $64.80
    Bid/Ask Prem/Disc 0.01%
    Tickers & ISIN
    Index Bloomberg Ticker REVWST
    Reuters Bridge Ticker RWJ.IV
    ISIN US68386C3025

    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. Returns do not consider capital gains or income taxes on an individual's investment.

    On 2/22/2008 and 3/31/2008 for RWJ, the last trade price was used to calculate market return because 4:00pm EST midpoint bid/ask prices are not available on those dates.

    The NAV return is based on the net asset value of the Fund and the market return (MKT) is based on the market price per share of the Fund. The price used to calculate MKT is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the Fund are listed for trading when the Fund's NAV is calculated at market close. MKT and NAV assume dividends and capital gain distributions have been reinvested in the Fund at market price and NAV, respectively. Returns less than one year are cumulative.

    Top Holdings

    05/26/17

    See Full Holdings

    Community Health Systems, Inc...
    2.6%
    SUPERVALU, Inc.
    2.2%
    Core-Mark Holding Co., Inc.
    1.6%
    Sonic Automotive, Inc.
    1.3%
    RR Donnelley & Sons Co.
    1.2%
    Group 1 Automotive, Inc.
    1.2%
    Lithia Motors, Inc.
    1.2%
    Kindred Healthcare, Inc.
    1.2%
    SpartanNash Co.
    1.1%
    Anixter International, Inc.
    1.0%
    Asbury Automotive Group, Inc....
    0.9%
    Sanmina Corp.
    0.9%
    Veritiv Corp.
    0.9%
    Essendant, Inc.
    0.8%
    Kelly Services, Inc.
    0.8%
    Insight Enterprises, Inc.
    0.8%
    Diplomat Pharmacy, Inc.
    0.7%
    Triumph Group Inc.
    0.7%
    ABM Industries, Inc.
    0.7%
    Magellan Health, Inc.
    0.7%
    ×
    • 2.6%
      Community Health Systems, Inc.
    • Operates general acute care hospitals
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Health Care
    INDUSTRY Health Care Providers & Services
    ×
    • 2.2%
      SUPERVALU, Inc.
    • Distributes and sells food and nonfood items at wholesale
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Staples
    INDUSTRY Food & Staples Retailing
    ×
    • 1.6%
      Core-Mark Holding Co., Inc.
    • Engages in distributing and marketing of consumer products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Discretionary
    ×
    • 1.3%
      Sonic Automotive, Inc.
    • Operates as a automotive retailer
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Specialty Retail
    ×
    • 1.2%
      RR Donnelley & Sons Co.
    • Provides integrated communications services such as advertising, book publishing, business process outsourcing, direct mail and logistics services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Commercial Services & Supplies
    ×
    • 1.2%
      Group 1 Automotive, Inc.
    • Owns and operates automobile dealerships, franchises and collision service centers
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Specialty Retail
    ×
    • 1.2%
      Lithia Motors, Inc.
    • Sells new and used vehicles and related auto parts
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Specialty Retail
    ×
    • 1.2%
      Kindred Healthcare, Inc.
    • Provides healthcare services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Health Care
    INDUSTRY Health Care Providers & Services
    ×
    • 1.1%
      SpartanNash Co.
    • Operates as a food distributor serving military commissaries and exchanges
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Staples
    INDUSTRY Food & Staples Retailing
    ×
    • 1.0%
      Anixter International, Inc.
    • Distributes communication and security products, electrical wire and cable, fasteners and other small parts
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 0.9%
      Asbury Automotive Group, Inc.
    • Operates as an automotive retailers
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Specialty Retail
    ×
    • 0.9%
      Sanmina Corp.
    • Provides integrated electronics manufacturing services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 0.9%
      Veritiv Corp.
    • Manufactures and distributes paper and cardboard products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Trading Companies & Distributors
    ×
    • 0.8%
      Essendant, Inc.
    • Distributes office supplies and products, office furniture and industrial products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Commercial Services & Supplies
    ×
    • 0.8%
      Kelly Services, Inc.
    • Provides workforce solutions
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Professional Services
    ×
    • 0.8%
      Insight Enterprises, Inc.
    • Provides information technology services and solutions
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 0.7%
      Diplomat Pharmacy, Inc.
    • Operates specialty pharmacies
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Health Care
    INDUSTRY Health Care Providers & Services
    ×
    • 0.7%
      Triumph Group Inc.
    • Designs, manufactures and distributes aircraft components
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Aerospace & Defense
    ×
    • 0.7%
      ABM Industries, Inc.
    • Provides facility services for commercial, industrial and institutional buildings
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Commercial Services & Supplies
    ×
    • 0.7%
      Magellan Health, Inc.
    • Provides healthcare management services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Health Care
    INDUSTRY Health Care Providers & Services
    ×
    Holdings Breakdown

    as of 05/26/17

    99.9%

    United States

    99.9%

    Americas

    25.9%

    Consumer Discretionary

    23.7%

    Industrials

    12.2%

    Health Care

    11.8%

    Information Technology

    7.5%

    Financials

    No Holding
    in
    Financials
    7.0%

    Consumer Staples

    6.2%

    Materials

    No Holding
    in
    Materials
    2.1%

    Energy

    No Holding
    in
    Energy
    1.5%

    Real Estate

    No Holding
    in
    Real Estate
    1.2%

    Utilities

    No Holding
    in
    Utilities
    0.7%

    Telecommunication Services

    No Holding
    in
    Telecommunication Services
    11.4%

    Specialty Retail

    8.5%

    Health Care Providers & Services

    5.8%

    Commercial Services & Supplies

    5.8%

    Electronic Equipment Instruments & Components

    4.7%

    Machinery

    No Holding
    in
    Machinery
    3.8%

    Food & Staples Retailing

    3.3%

    Hotels Restaurants & Leisure

    No Holding
    in
    Hotels Restaurants & Leisure
    2.7%

    Insurance

    No Holding
    in
    Insurance
    2.7%

    Chemicals

    No Holding
    in
    Chemicals
    2.7%

    Professional Services

    2.6%

    Household Durables

    No Holding
    in
    Household Durables
    2.2%

    Aerospace & Defense

    2.0%

    IT Services

    No Holding
    in
    IT Services
    2.0%

    Food Products

    No Holding
    in
    Food Products
    1.9%

    Banks

    No Holding
    in
    Banks
    1.9%

    Health Care Equipment & Supplies

    No Holding
    in
    Health Care Equipment & Supplies
    1.8%

    Textiles Apparel & Luxury Goods

    No Holding
    in
    Textiles Apparel & Luxury Goods
    1.8%

    Auto Components

    No Holding
    in
    Auto Components
    1.7%

    Building Products

    No Holding
    in
    Building Products
    1.7%

    Trading Companies & Distributors

    99.9%

    Risk Measurements

    as of 04/30/17

    Alpha -3.53%
    Beta 1.17
    Bear Beta 1.02
    Bull Beta 1.17
    Excess Return -2.30
    Sharpe Ratio
    0.54
    Standard Deviation
    17.44%
    Sortino Ratio
    0.94
    Information Ratio
    -0.53
    Equity Style
    Total Assets
    as of 4/30/17
    $548.8 MM
    Portfolio Statistics

    as of 4/30/17

    Avg Market Cap (weighted) 1.42 BN
    Price/Book Value (LTM) 1.87
    Turnover Ratio
    24.76%
    Number of Securities
    as of 05/26/17
    603
    Dividends ($ per share)
    • D
    Est Frequency Quarterly
    Pay Date 4/10/17
    Per Share ($) 0.1722
    12-Month Distribution ($) 0.4346
    Distribution Sources
    Net Income 100.00%
    Net Profit from Sale 0.00%
    Other Capital Sources 0.00%
    Top Holdings

    05/26/17

    See Full Holdings

    Community Healt...
    2.6%
    SUPERVALU, Inc....
    2.2%
    Core-Mark Holdi...
    1.6%
    Sonic Automotiv...
    1.3%
    RR Donnelley & ...
    1.2%
    Group 1 Automot...
    1.2%
    Lithia Motors, ...
    1.2%
    Kindred Healthc...
    1.2%
    SpartanNash Co....
    1.1%
    Anixter Interna...
    1.0%
    Asbury Automoti...
    0.9%
    Sanmina Corp.
    0.9%
    Veritiv Corp.
    0.9%
    Essendant, Inc....
    0.8%
    Kelly Services,...
    0.8%
    Insight Enterpr...
    0.8%
    Diplomat Pharma...
    0.7%
    Triumph Group I...
    0.7%
    ABM Industries,...
    0.7%
    Magellan Health...
    0.7%
    Holdings Breakdown

    as of 5/26/17

    Reset
    99.9%

    United States

    99.9%

    Americas

    25.9%

    Consumer Discretionary

    23.7%

    Industrials

    12.2%

    Health Care

    11.8%

    Information Technology

    7.5%

    Financials

    No Holding
    in
    Financials
    7.0%

    Consumer Staples

    6.2%

    Materials

    No Holding
    in
    Materials
    2.1%

    Energy

    No Holding
    in
    Energy
    1.5%

    Real Estate

    No Holding
    in
    Real Estate
    1.2%

    Utilities

    No Holding
    in
    Utilities
    0.7%

    Telecommunication Services

    No Holding
    in
    Telecommunication Services
    11.4%

    Specialty Retail

    8.5%

    Health Care Providers & Services

    5.8%

    Commercial Services & Supplies

    5.8%

    Electronic Equipment Instruments & Components

    4.7%

    Machinery

    No Holding
    in
    Machinery
    3.8%

    Food & Staples Retailing

    3.3%

    Hotels Restaurants & Leisure

    No Holding
    in
    Hotels Restaurants & Leisure
    2.7%

    Insurance

    No Holding
    in
    Insurance
    2.7%

    Chemicals

    No Holding
    in
    Chemicals
    2.7%

    Professional Services

    2.6%

    Household Durables

    No Holding
    in
    Household Durables
    2.2%

    Aerospace & Defense

    2.0%

    IT Services

    No Holding
    in
    IT Services
    2.0%

    Food Products

    No Holding
    in
    Food Products
    1.9%

    Banks

    No Holding
    in
    Banks
    1.9%

    Health Care Equipment & Supplies

    No Holding
    in
    Health Care Equipment & Supplies
    1.8%

    Textiles Apparel & Luxury Goods

    No Holding
    in
    Textiles Apparel & Luxury Goods
    1.8%

    Auto Components

    No Holding
    in
    Auto Components
    1.7%

    Building Products

    No Holding
    in
    Building Products
    1.7%

    Trading Companies & Distributors

    99.9%

    ×
    • 2.6%
      Community Health Systems, Inc.
    • Operates general acute care hospitals
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Health Care
    INDUSTRY Health Care Providers & Services
    ×
    • 2.2%
      SUPERVALU, Inc.
    • Distributes and sells food and nonfood items at wholesale
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Staples
    INDUSTRY Food & Staples Retailing
    ×
    • 1.6%
      Core-Mark Holding Co., Inc.
    • Engages in distributing and marketing of consumer products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Discretionary
    ×
    • 1.3%
      Sonic Automotive, Inc.
    • Operates as a automotive retailer
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Specialty Retail
    ×
    • 1.2%
      RR Donnelley & Sons Co.
    • Provides integrated communications services such as advertising, book publishing, business process outsourcing, direct mail and logistics services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Commercial Services & Supplies
    ×
    • 1.2%
      Group 1 Automotive, Inc.
    • Owns and operates automobile dealerships, franchises and collision service centers
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Specialty Retail
    ×
    • 1.2%
      Lithia Motors, Inc.
    • Sells new and used vehicles and related auto parts
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Specialty Retail
    ×
    • 1.2%
      Kindred Healthcare, Inc.
    • Provides healthcare services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Health Care
    INDUSTRY Health Care Providers & Services
    ×
    • 1.1%
      SpartanNash Co.
    • Operates as a food distributor serving military commissaries and exchanges
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Staples
    INDUSTRY Food & Staples Retailing
    ×
    • 1.0%
      Anixter International, Inc.
    • Distributes communication and security products, electrical wire and cable, fasteners and other small parts
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 0.9%
      Asbury Automotive Group, Inc.
    • Operates as an automotive retailers
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Consumer Discretionary
    INDUSTRY Specialty Retail
    ×
    • 0.9%
      Sanmina Corp.
    • Provides integrated electronics manufacturing services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 0.9%
      Veritiv Corp.
    • Manufactures and distributes paper and cardboard products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Trading Companies & Distributors
    ×
    • 0.8%
      Essendant, Inc.
    • Distributes office supplies and products, office furniture and industrial products
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Commercial Services & Supplies
    ×
    • 0.8%
      Kelly Services, Inc.
    • Provides workforce solutions
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Professional Services
    ×
    • 0.8%
      Insight Enterprises, Inc.
    • Provides information technology services and solutions
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Information Technology
    INDUSTRY Electronic Equipment Instruments & Components
    ×
    • 0.7%
      Diplomat Pharmacy, Inc.
    • Operates specialty pharmacies
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Health Care
    INDUSTRY Health Care Providers & Services
    ×
    • 0.7%
      Triumph Group Inc.
    • Designs, manufactures and distributes aircraft components
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Aerospace & Defense
    ×
    • 0.7%
      ABM Industries, Inc.
    • Provides facility services for commercial, industrial and institutional buildings
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Industrials
    INDUSTRY Commercial Services & Supplies
    ×
    • 0.7%
      Magellan Health, Inc.
    • Provides healthcare management services
      Source: FactSet
    ASSET ALLOCATION Equity
    COUNTRY United States
    DEVELOPED MARKETS Americas
    EQUITY SECTOR Health Care
    INDUSTRY Health Care Providers & Services
    ×

    Management

    Vincent T. Lowry

    Managed Fund since 2/08

    Justin V. Lowry

    Managed Fund since 9/14

    Sean P. Reichert

    Managed Fund since 9/14

    Investment Approach

    Oppenheimer Small Cap Revenue ETF gives investors access to the same broad basket of stocks as the S&P 600. Our transparent investment process re-weights the S&P 600 by each company’s revenue, producing a portfolio which we think is a better representation of companies’ economic contribution to the index. By ranking through revenue instead of market capitalization, we remove the traditional index’s bias towards overvalued stocks while maintaining the transparency and broad diversification that has historically attracted investors to index strategies.

    Risk Management

    Our team limits exposure to individual companies, industries and sectors, seeking to limit volatility through company quality and diversification. Risk Management Overview

    We conduct rigorous fundamental research to identify individual companies with asymmetrical risk/return opportunities. Risk Management Overview

    At the portfolio level, our experienced investment personnel closely monitor the strategy's positioning, and the active risk resulting from our security selection process and sector allocations. We evaluate factor and style exposure, as well as the ownership and liquidity profile of each security in the portfolio. Risk Management Overview

    Our team proactively manages risk by constructing diversified portfolios across sectors, industry groups and securities. We manage, monitor and limit sector weights relative to specified benchmarks and security position sizes within each portfolio. Risk Management Overview

    Our team closely monitors position size and sector weights; we have limits on active security weights against the benchmark for each strategy we manage. Risk Management Overview

    Risk is managed at the portfolio, strategy and security levels to identify diversified sources of alpha. We mainly focus on currency, interest rates and credit. Positions are sized and monitored according to established limits. Risk Management Overview

    We focus primarily on senior loans in an effort to maintain product integrity and limit duration risk. Risk Management Overview

    The team manages risk at both a strategy and individual security level to help ensure that, when combined, they act as the ballast in an investor’s overall portfolio. Risk Management Overview

    Risk is managed at the portfolio, strategy and security levels to identify diversified sources of alpha. We seek to identify primary and secondary risks of each investment. Diversification of sectors can potentially reduce volatility. Risk Management Overview

    The team manages risk by administering duration limits, limiting portfolio weighted average maturity and conducting thorough credit analysis on individual securities. Risk Management Overview

    The Rochester team has created diverse portfolios designed to mitigate the types of risks that municipal bond investors may encounter. Risk Management Overview

    The Commodities team manages risk on multiple levels, including individual commodity sector levels and overall fund level. Risk Management Overview

    The Real Estate team monitors and manages risk at the security, sector and strategy levels. Risk Management Overview

    The Global Multi-Asset Group monitors and manages risk on an ongoing basis, both at the asset class and portfolio levels. Risk Management Overview

    We emphasize capital preservation by avoiding companies that may cut distributions. We seek to build diversified portfolios comprised of energy and energy related companies with attractive risk-adjusted total return potential. Risk Management Overview

    The Alternative Strategies team evaluates risk on multiple levels, applying numerous risk analysis methods on an ongoing basis in addition to assessing risk impacts of a position prior to making investment decisions. Risk Management Overview

    Risk is monitored by quantitative risk system and managed at many levels – stock, sector, country, and style factors. We seek to diversify the portfolio across the global listed infrastructure market and adhere to an established risk framework, including constraints imposed by position limits versus a benchmark. Risk Management Overview

    We monitor and manage both security and sector weights to the underlying index to ensure that the portfolio is properly tracking its benchmark. Also, partnering with well-known index providers ensures that we hold only high quality securities that pass very stringent profitability and liquidity screens. Risk Management Overview

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    1. 1. Special Risks: An investment in the Fund is subject to investment risk, including the possible loss of principal amount invested. 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. Fund returns may not match the return of its respective index, known as non-correlation risk, due to operating expenses incurred by the Fund. The alternate weighting approach employed by the Fund (i.e., using revenues as a weighting measure), while designed to enhance potential returns, may not produce the desired results. Because the Fund is rebalanced quarterly, portfolio turnover may exceed 100%. The greater the portfolio turnover, the greater the transaction costs, which could have an adverse effect on Fund performance.
    2. 2. The net expense ratio 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 until December 2, 2017, unless approved by the Board.
    3. 3. Access Index Definitions
    4. 4. Holdings are subject to change, and are dollar weighted based on total new assets.
    5. A. 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. Returns do not consider capital gains or income taxes on an individual's investment.
    6. 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. Returns do not consider capital gains or income taxes on an individual's investment.

      On 2/22/2008 and 3/31/2008 for RWJ, the last trade price was used to calculate market return because 4:00pm EST midpoint bid/ask prices are not available on those dates.

      The NAV return is based on the net asset value of the Fund and the market return (MKT) is based on the market price per share of the Fund. The price used to calculate MKT is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the Fund are listed for trading when the Fund's NAV is calculated at market close. MKT and NAV assume dividends and capital gain distributions have been reinvested in the Fund at market price and NAV, respectively. Returns less than one year are cumulative.

      "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.

      Returns are preliminary and subject to change until the first business day of the month.
    7. 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 p.m. ET daily.
    8. D. There is no guarantee of the payment of any dividend or other distributions at any level.
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