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OVSAX

Small Cap Value Fund
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Overview

The Strategy primarily invests in small-capitalization value stocks.

Inception Date
December 7, 2015
Investment Style
Small Cap Value
Fund Index
Russell 2000® Value Index
CUSIP
68386A108
NAV
  • B
(as of 03/22/2019)
$10.68
Total Assets
(as of 02/28/2019)
$37.26 MM
Gross Expense Ratio
(as of 02/28/2019)
1.71%
Net Expense Ratio
(as of 02/28/2019)
1.25%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 02/28/2019
  • C
as of 12/31/2018
  • C

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • C
Cumulative
Annualized
1 mo 3 mo ytd as of 2018-12-31
  • D
1 yr 3 yr since inception
Small Cap Value Fund (NAV)
-10.86% -21.86% -18.22% -18.22% 2.56% 1.60%
Russell 2000® Value Index
-12.09% -18.67% -12.86% -12.86% 7.37% 6.45%
Cumulative
Annualized
1 mo 3 mo ytd as of 2018-12-31
  • D
1 yr 3 yr since inception
Small Cap Value Fund (with sales charge)
-15.99% -26.35% -22.92% -22.92% 0.56% -0.35%
Russell 2000® Value Index
-12.09% -18.67% -12.86% -12.86% 7.37% 6.45%
Cumulative
Annualized
1 mo 3 mo ytd as of 2019-02-28
  • D
1 yr 3 yr since inception
Small Cap Value Fund (NAV)
3.83% 3.39% 15.99% -2.18% 10.41% 6.29%
Russell 2000® Value Index
3.89% 1.32% 15.25% 4.42% 14.95% 10.88%
Cumulative
Annualized
1 mo 3 mo ytd as of 2019-02-28
  • D
1 yr 3 yr since inception
Small Cap Value Fund (with sales charge)
-2.14% -2.56% 9.32% -7.80% 8.24% 4.36%
Russell 2000® Value Index
3.89% 1.32% 15.25% 4.42% 14.95% 10.88%
Gross Expense Ratio: 1.71% | Net Expense Ratio: 1.25%

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.


Year Small Cap Value Fund Russell 2000® Value Index
2016 25.25% 31.74%
2017 5.33% 7.84%
2018 -18.22% -12.86%

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.


Date Small Cap Value Fund Russell 2000 Value Index Russell 2000 Value
2/29/2016 0.00 0.00 0.00
3/31/2016 9.49 8.29 8.29
4/30/2016 12.05 10.58 10.58
5/31/2016 13.82 12.61 12.61
6/30/2016 13.65 12.95 12.95
7/31/2016 20.32 19.05 19.05
8/31/2016 23.77 22.00 22.00
9/30/2016 23.96 22.97 22.97
10/31/2016 18.61 18.92 18.92
11/30/2016 31.31 34.71 34.71
12/31/2016 34.66 40.27 40.27
1/31/2017 34.44 39.27 39.27
2/28/2017 38.01 41.29 41.29
3/31/2017 35.87 40.09 40.09
4/30/2017 35.43 40.64 40.64
5/31/2017 31.97 36.26 36.26
6/30/2017 35.64 41.03 41.03
7/31/2017 36.31 41.92 41.92
8/31/2017 31.96 38.43 38.43
9/30/2017 38.93 48.23 48.23
10/31/2017 38.71 48.43 48.43
11/30/2017 41.28 52.72 52.72
12/31/2017 41.84 51.27 51.27
1/31/2018 46.26 53.13 53.13
2/28/2018 37.53 45.47 45.47
3/31/2018 39.12 47.27 47.27
4/30/2018 40.25 49.83 49.83
5/31/2018 49.09 58.54 58.54
6/30/2018 49.18 59.50 59.50
7/31/2018 50.32 62.32 62.32
8/31/2018 51.68 66.18 66.18
9/30/2018 48.44 62.06 62.06
10/31/2018 30.13 47.55 47.55
11/30/2018 30.13 49.93 49.93
12/31/2018 15.99 31.81 31.81
1/31/2019 29.58 46.22 46.22
2/28/2019 34.54 51.91 51.91

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.

$ per share as of 03/22/2019

Date 2014 2015 2016 2017 2018
Short Term
Long Term 0.1401 0.3519
Total Amount of Distribution 0.1401 0.3519
Record Date 12/8/17 12/7/18
Ex Div Date 12/11/17 12/10/18
Pay Date 12/11/17 12/10/18

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

Portfolio

Top Issuers

(33.1% of assets as of 02/28/2019)


Portfolio Holdings Breakdown

Country
Developed Markets
Equity Sector
Industry
Asset Allocation
Market Cap 5
Country Small Cap Value Fund Russell 2000® Value Index Overweight / Underweight
United States 97.6% 99.9% -2.3%
Canada 1.2% 0.1% 1.1%
Israel 0.6% 0.0% 0.5%
Developed Markets Small Cap Value Fund Russell 2000® Value Index Overweight / Underweight
Americas 98.8% 100.0% -1.1%
Middle East 0.6% 0.0% 0.5%
Equity Sector Small Cap Value Fund Russell 2000® Value Index Overweight / Underweight
Financials 23.2% 29.4% -6.3%
Consumer Discretionary 13.8% 9.2% 4.6%
Real Estate 13.0% 11.8% 1.2%
Information Technology 12.5% 11.4% 1.1%
Industrials 10.7% 11.7% -1.0%
Energy 6.9% 5.5% 1.4%
Health Care 5.6% 4.2% 1.3%
Materials 5.2% 4.3% 1.0%
Communication Services 4.2% 3.2% 1.0%
Utilities 3.1% 6.8% -3.7%
Consumer Staples 1.2% 2.5% -1.3%
Industry Small Cap Value Fund Russell 2000® Value Index Overweight / Underweight
Banks 11.0% 17.3% -6.3%
Equity Real Estate Investment Trusts (REITs) 9.5% 11.4% -1.8%
Semiconductors & Semiconductor Equipment 6.2% 2.0% 4.2%
Oil Gas & Consumable Fuels 5.7% 3.4% 2.3%
Thrifts & Mortgage Finance 5.5% 3.9% 1.6%
Machinery 4.3% 2.9% 1.4%
IT Services 3.7% 1.7% 2.0%
Auto Components 3.6% 0.9% 2.7%
Real Estate Management & Development 3.5% 0.4% 3.1%
Specialty Retail 3.5% 3.2% 0.3%
Media 3.2% 2.1% 1.1%
Pharmaceuticals 3.0% 0.9% 2.1%
Mortgage Real Estate Investment Trusts (REITs) 2.7% 2.2% 0.5%
Electrical Equipment 2.2% 0.7% 1.5%
Insurance 2.1% 3.9% -1.8%
Electronic Equipment Instruments & Components 2.0% 3.7% -1.7%
Diversified Consumer Services 1.9% 0.8% 1.1%
Paper & Forest Products 1.9% 0.6% 1.3%
Textiles Apparel & Luxury Goods 1.9% 0.3% 1.6%
Metals & Mining 1.8% 2.0% -0.2%
Asset Allocation Small Cap Value Fund Russell 2000® Value Index Overweight / Underweight
Equity 99.4% 100.0% -0.6%
Market Cap Small Cap Value Fund Russell 2000® Value Index Overweight / Underweight
Small 73.1% 79.5% -6.4%
Mid 26.3% 20.5% 5.8%
Analytics
(As of 02/28/2019)

Morningstar 02/28/2019 (based on risk adjusted performance)
Overall Rating
Number of Funds
389
Category
Small Value
Performance Statistics
3Y
Alpha
-3.95
Beta
1.00
Information Ratio
-1.17
R-Squared
94.69
Sharpe Ratio
0.60
Standard Deviation
16.86
Upside Capture
89.01
Downside Capture
107.38
Sortino Ratio
0.92
Win Ratio
36.00
Loss Ratio
64.00
Tracking Error
3.90
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$2.27 B
$2.11 B
Median Market Cap (weighted)
$1.78 B
$1.92 B
P/E Ratio (LTM)
14.49
18.12
P/E Ratio (NTM)
12.31
15.03
Price/Book
1.59
1.53
Debt to Capital Ratio
41.44
39.84
Turnover Ratio
73%
-
Active Share
92.72%
-
Dividends
  • E
Est. Frequency
Quarterly
Last Pay Date
3/15/2019
Per Share ($)
$0.0054
12-Month Distribution ($)
$0.1017
Distribution Sources
  • E
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Documents
  1. 1. Value investing involves the risk that undervalued securities may not appreciate as anticipated. 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. Diversification does not guarantee profit or protect against loss.
  2. 2. 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.
  3. 3. The Russell 2000® Value Index measures the performance of small-cap value segment of the U.S. equity universe.  It includes those Russell 2000 companies with lower price-to-book ratios and lower 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.
  4. 4. 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.
  5. 5. 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.
  6. 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>
  7. 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.
  8. 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.
  9. 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.
  10. E. There is no guarantee of the payment of any dividend or other distributions at any level.
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