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QIVIX

International Equity Fund

Overview

The Strategy typically invests in international stocks that the portfolio manager believes are undervalued.

Inception Date
March 28, 2013
Investment Style
International Equity
Fund Index
MSCI ACWI ex US
CUSIP
68382N609
NAV
  • A
(as of 08/21/2018)
$20.81
Total Assets
(as of 07/31/2018)
$2.17 BN
Gross Expense Ratio
(as of 07/31/2018)
0.81%
Net Expense Ratio
(as of 07/31/2018)
0.81%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 07/31/2018
as of 06/30/2018

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
3 mo ytd as of 2018-06-30
  • C
1 yr 3 yr 5 yr since inception
International Equity Fund (NAV)
-3.16% -4.68% 4.74% 6.25% 6.73% 6.51%
MSCI ACWI ex US
-2.61% -3.77% 7.28% 5.07% 5.99% -
Cumulative
Annualized
3 mo ytd as of 2018-07-31
  • C
1 yr 3 yr 5 yr since inception
International Equity Fund (NAV)
-2.36% -3.02% 3.41% 6.63% 5.87% 6.75%
MSCI ACWI ex US
-1.85% -1.46% 5.94% 6.00% 5.59% -
Gross Expense Ratio: 0.81% | Net Expense Ratio: 0.81%

Year International Equity Fund MSCI ACWI ex US
2014 -9.87% -3.87%
2015 -0.55% -5.66%
2016 2.38% 4.50%
2017 31.62% 27.19%

Date International Equity Fund MSCI ACWI ex-US MSCI World S&P 500
7/31/2013 0.00 0.00 0.00 0.00
8/31/2013 -1.65 -1.38 -2.13 -2.90
9/30/2013 5.86 5.47 2.77 0.15
10/31/2013 8.41 9.35 6.79 4.75
11/30/2013 10.52 9.53 8.69 7.94
12/31/2013 13.49 10.50 10.99 10.68
1/31/2014 6.81 5.48 6.88 6.85
2/28/2014 10.52 10.78 12.23 11.74
3/31/2014 8.29 11.06 12.39 12.68
4/30/2014 7.84 12.53 13.54 13.51
5/31/2014 9.43 14.71 15.77 16.18
6/30/2014 10.86 16.64 17.85 18.58
7/31/2014 7.09 15.49 15.96 16.94
8/31/2014 7.04 16.13 18.52 21.62
9/30/2014 2.81 10.50 15.30 19.91
10/31/2014 3.61 9.41 16.05 22.84
11/30/2014 6.12 10.20 18.37 26.15
12/31/2014 2.09 6.23 16.47 25.83
1/31/2015 2.67 6.07 14.36 22.05
2/28/2015 7.11 11.74 21.06 29.06
3/31/2015 6.88 9.93 19.16 27.02
4/30/2015 11.78 15.49 21.96 28.24
5/31/2015 12.30 13.68 22.38 29.89
6/30/2015 8.69 10.51 19.53 27.38
7/31/2015 9.33 10.20 21.68 30.05
8/31/2015 1.33 1.78 13.62 22.20
9/30/2015 -1.82 -2.94 9.43 19.18
10/31/2015 4.66 4.29 18.10 29.23
11/30/2015 3.61 2.14 17.52 29.61
12/31/2015 1.34 0.21 15.45 27.57
1/31/2016 -2.73 -6.61 8.54 21.24
2/29/2016 -3.55 -7.67 7.74 21.07
3/31/2016 2.63 -0.17 15.05 29.29
4/30/2016 3.40 2.46 16.87 29.79
5/31/2016 3.46 0.73 17.52 32.12
6/30/2016 1.75 -0.81 16.21 32.46
7/31/2016 6.99 4.10 21.12 37.35
8/31/2016 7.29 4.75 21.22 37.54
9/30/2016 9.58 6.05 21.86 37.57
10/31/2016 6.23 4.52 19.50 35.06
11/30/2016 3.58 2.10 21.22 40.06
12/31/2016 3.55 4.72 24.12 42.83
1/31/2017 7.71 8.43 27.12 45.53
2/28/2017 8.49 10.15 30.64 51.31
3/31/2017 13.19 12.95 32.04 51.49
4/30/2017 17.29 15.36 33.99 53.05
5/31/2017 22.11 19.11 36.83 55.20
6/30/2017 23.92 19.48 37.35 56.17
7/31/2017 27.71 23.88 40.64 59.38
8/31/2017 28.01 24.53 40.84 59.87
9/30/2017 30.96 26.84 44.00 63.17
10/31/2017 35.00 29.23 46.72 66.97
11/30/2017 35.30 30.28 49.90 72.09
12/31/2017 36.06 33.19 51.93 74.01
1/31/2018 43.43 40.61 59.95 83.97
2/28/2018 36.61 33.98 53.32 77.19
3/31/2018 33.89 31.62 49.98 72.69
4/30/2018 35.16 33.72 51.70 73.35
5/31/2018 34.07 30.63 52.65 77.52
6/30/2018 29.66 28.17 52.58 78.62
7/31/2018 31.95 31.24 57.35 85.26
$ per share as of 08/20/2018

Date 2013 2014 2015 2016 2017
Short Term
Long Term
Total Amount of Distribution
Record Date
Ex Div Date
Pay Date

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

Portfolio

Top Issuers

(39.8% of assets as of 07/31/2018)


Portfolio Holdings Breakdown

Country
Developed Markets
Emerging Markets
Equity Sector
Industry
Asset Allocation
Market Cap 5
Country International Equity Fund MSCI ACWI ex US Overweight / Underweight
Japan 22.1% 16.1% 6.0%
France 13.5% 7.6% 5.9%
United Kingdom 11.3% 12.2% -0.9%
China 11.2% 7.8% 3.4%
Germany 9.6% 6.6% 2.9%
South Korea 7.3% 3.5% 3.8%
United States 3.3% 0.0% 3.2%
Hong Kong 2.9% 2.4% 0.5%
Canada 2.7% 6.6% -3.9%
Netherlands 2.7% 2.5% 0.2%
New Zealand 0.9% 0.1% 0.8%
Taiwan 0.7% 2.9% -2.3%
Switzerland 0.6% 5.6% -5.0%
Spain 0.5% 2.1% -1.7%
Malaysia 0.5% 0.6% -0.1%
Developed Markets International Equity Fund MSCI ACWI ex US Overweight / Underweight
Europe 38.2% 43.9% -5.7%
Asia Pacific 26.0% 24.2% 1.8%
Americas 5.9% 6.7% -0.7%
Emerging Markets International Equity Fund MSCI ACWI ex US Overweight / Underweight
Asia Pacific 19.6% 18.4% 1.3%
Equity Sector International Equity Fund MSCI ACWI ex US Overweight / Underweight
Information Technology 21.0% 11.7% 9.3%
Consumer Discretionary 16.6% 11.0% 5.6%
Industrials 13.8% 11.7% 2.2%
Consumer Staples 10.5% 9.6% 0.9%
Financials 8.0% 22.2% -14.2%
Materials 7.6% 8.2% -0.6%
Energy 7.2% 7.4% -0.2%
Telecommunication Services 3.1% 3.8% -0.7%
Health Care 2.1% 8.3% -6.2%
Industry International Equity Fund MSCI ACWI ex US Overweight / Underweight
Oil Gas & Consumable Fuels 5.7% 7.3% -1.6%
Hotels Restaurants & Leisure 5.5% 1.3% 4.2%
Semiconductors & Semiconductor Equipment 5.3% 2.4% 2.8%
Electronic Equipment Instruments & Components 5.1% 1.7% 3.4%
Metals & Mining 4.7% 3.4% 1.3%
Aerospace & Defense 4.6% 1.1% 3.5%
Software 4.5% 1.4% 3.1%
Internet Software & Services 4.5% 3.1% 1.4%
Beverages 4.4% 1.9% 2.5%
Professional Services 3.7% 0.9% 2.9%
Banks 3.5% 13.7% -10.2%
Insurance 3.3% 5.1% -1.7%
Food Products 3.0% 2.5% 0.5%
Household Durables 2.8% 0.9% 1.9%
Chemicals 2.8% 3.5% -0.7%
Wireless Telecommunication Services 2.2% 1.9% 0.2%
Textiles Apparel & Luxury Goods 2.1% 1.7% 0.4%
Electrical Equipment 1.8% 1.0% 0.8%
Technology Hardware Storage & Peripherals 1.7% 1.6% 0.0%
Personal Products 1.6% 1.6% -0.1%
Asset Allocation International Equity Fund MSCI ACWI ex US Overweight / Underweight
Equity 89.8% 100.0% -10.2%
Market Cap International Equity Fund MSCI ACWI ex US Overweight / Underweight
Large 78.4% 88.6% -10.3%
Mid 11.4% 11.1% 0.3%
Analytics
(As of 07/31/2018)

Morningstar 07/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
633
Category
Foreign Large Blend
Performance Statistics
3Y
5Y
Alpha
1.25
0.85
Beta
0.87
0.89
Information Ratio
0.15
0.06
R-Squared
88.27
85.67
Sharpe Ratio
0.56
0.53
Standard Deviation
11.30
11.06
Upside Capture
93.33
91.88
Downside Capture
86.70
86.78
Sortino Ratio
0.26
0.24
Win Ratio
44.00
43.00
Loss Ratio
56.00
57.00
Margin of Outperformance
1.13
1.23
Margin of Underperformance
-0.83
-0.91
Tracking Error
4.18
4.38
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
12/13/2017
Per Share ($)
$0.0853
12-Month Distribution ($)
$0.0853
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$65.90 B
$64.11 B
Median Market Cap (weighted)
$39.24 B
$33.42 B
P/E Ratio (LTM)
18.11
16.42
P/E Ratio (NTM)
14.71
13.62
Price/Book
2.15
1.86
Debt to Capital Ratio
33.88
40.00
Turnover Ratio
83%
-
Active Share
86.83%
-
Distribution Sources
  • D
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
Documents
  1. 1. Special Risks: Fixed income investing entails credit and interest rate risks. When interest rates rise, bond prices generally fall, and the Fund’s share prices can fall. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. Eurozone investments may be subject to volatility and liquidity issues. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Mid-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 mid-sized company, if any gain is realized at all.
  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. Access index definitions.
  4. 4. Holdings are subject to change, and are dollar weighted based on total net 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. 6. 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.
  7. 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.
  8. B. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals 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 Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.
  9. 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.
  10. D. There is no guarantee of the payment of any dividend or other distributions at any level.
  11. E. 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.
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