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Capital Appreciation Fund/VA

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Overview

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

Inception Date
April 3, 1985
Investment Style
Large Cap Growth
Fund Index
Russell 1000® Growth Index
CUSIP
683811301
NAV
  • A
(as of 11/09/2018)
$53.95
Total Assets
(as of 10/31/2018)
$689.53 MM
Gross Expense Ratio
(as of 10/31/2018)
0.84%
Net Expense Ratio
(as of 10/31/2018)
0.80%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 10/31/2018
  • B
as of 09/30/2018
  • B

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • B
Cumulative
Annualized
ytd as of 2018-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Capital Appreciation Fund/VA (NAV)
13.05% 19.76% 14.98% 13.18% 10.85% 10.31%
Russell 1000® Growth Index
17.09% 26.30% 20.55% 16.58% 14.31% -
Cumulative
Annualized
ytd as of 2018-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Capital Appreciation Fund/VA (with sales charge)
13.05% 19.76% 14.98% 13.18% 10.85% 10.31%
Russell 1000® Growth Index
17.09% 26.30% 20.55% 16.58% 14.31% -
Cumulative
Annualized
ytd as of 2018-10-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Capital Appreciation Fund/VA (NAV)
2.76% 6.28% 8.23% 10.15% 12.17% 9.97%
Russell 1000® Growth Index
6.62% 10.71% 13.67% 13.43% 15.45% -
Cumulative
Annualized
ytd as of 2018-10-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Capital Appreciation Fund/VA (with sales charge)
2.76% 6.28% 8.23% 10.15% 12.17% 9.97%
Russell 1000® Growth Index
6.62% 10.71% 13.67% 13.43% 15.45% -
Gross Expense Ratio: 0.84% | Net Expense Ratio: 0.80%

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.  The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names.  The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund.  Such performance would have been lower if such charges were taken into account.


Year Capital Appreciation Fund/VA Russell 1000® Growth Index
1986 17.76% 7.14%
1987 3.31% 11.12%
1988 22.09% 8.57%
1989 23.59% 25.29%
1990 -8.21% 0.30%
1991 25.54% 41.27%
1992 14.53% 4.99%
1993 7.25% 2.87%
1994 0.97% 2.62%
1995 36.66% 37.18%
1996 25.20% 23.12%
1997 26.68% 30.49%
1998 24.00% 38.71%
1999 41.66% 33.16%
2000 -0.23% -22.42%
2001 -12.58% -20.42%
2002 -26.86% -27.88%
2003 30.94% 29.75%
2004 6.93% 6.30%
2005 5.10% 5.26%
2006 7.95% 9.07%
2007 14.15% 11.81%
2008 -45.52% -38.44%
2009 44.52% 37.21%
2010 9.42% 16.71%
2011 -1.15% 2.64%
2012 14.12% 15.26%
2013 29.74% 33.48%
2014 15.41% 13.05%
2015 3.54% 5.67%
2016 -2.20% 7.08%
2017 26.83% 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.  The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names.  The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund.  Such performance would have been lower if such charges were taken into account.


Date Capital Appreciation Fund/VA Russell 1000® Growth Index MSCI World S&P 500
10/31/2008 0.00 0.00 0.00 0.00
11/30/2008 -12.72 -7.95 -6.47 -7.18
12/31/2008 -10.53 -6.29 -3.47 -6.19
1/31/2009 -13.07 -10.80 -11.93 -14.09
2/28/2009 -18.68 -17.51 -20.94 -23.24
3/31/2009 -11.47 -10.15 -14.98 -16.52
4/30/2009 -1.85 -1.52 -5.44 -8.53
5/31/2009 4.63 3.36 3.12 -3.41
6/30/2009 5.43 4.51 2.66 -3.22
7/31/2009 12.92 11.94 11.35 4.10
8/31/2009 14.46 14.26 15.95 7.86
9/30/2009 19.82 19.12 20.57 11.88
10/31/2009 17.05 17.51 18.42 9.80
11/30/2009 23.74 24.72 23.26 16.39
12/31/2009 29.31 28.58 25.47 18.64
1/31/2010 21.95 22.97 20.29 14.37
2/28/2010 25.80 27.19 21.98 17.91
3/31/2010 34.01 34.55 29.54 25.03
4/30/2010 32.40 36.06 29.56 27.00
5/31/2010 21.11 25.67 17.15 16.86
6/30/2010 14.17 18.75 13.13 10.74
7/31/2010 20.58 27.22 22.30 18.50
8/31/2010 15.60 21.28 17.74 13.15
9/30/2010 27.84 34.19 28.71 23.25
10/31/2010 33.59 40.60 33.51 27.94
11/30/2010 33.91 42.23 30.63 27.96
12/31/2010 41.48 50.07 40.23 36.51
1/31/2011 43.20 53.88 43.40 39.75
2/28/2011 48.70 58.92 48.42 44.53
3/31/2011 47.95 59.11 46.96 44.59
4/30/2011 52.52 64.44 53.20 48.87
5/31/2011 50.76 62.65 50.03 47.19
6/30/2011 49.21 60.32 47.65 44.73
7/31/2011 47.35 58.71 44.97 41.79
8/31/2011 38.73 50.34 34.76 34.09
9/30/2011 27.29 39.26 23.12 24.66
10/31/2011 42.25 54.54 35.86 38.29
11/30/2011 41.61 54.53 32.54 37.98
12/31/2011 39.86 54.03 32.47 39.39
1/31/2012 47.49 63.22 39.11 45.64
2/29/2012 55.62 71.03 45.91 51.94
3/31/2012 59.66 76.66 47.78 56.94
4/30/2012 59.24 76.38 46.11 55.95
5/31/2012 48.69 65.07 33.49 46.58
6/30/2012 51.38 69.55 40.30 52.62
7/31/2012 53.15 71.82 42.10 54.74
8/31/2012 58.47 76.45 45.70 58.22
9/30/2012 61.23 79.91 49.70 62.31
10/31/2012 55.74 74.66 48.69 59.32
11/30/2012 59.07 77.58 50.60 60.24
12/31/2012 59.60 77.53 53.43 61.70
1/31/2013 66.12 85.14 61.24 70.08
2/28/2013 68.14 87.44 61.51 72.38
3/31/2013 73.66 94.48 65.29 78.85
4/30/2013 74.80 98.60 70.50 82.30
5/31/2013 77.77 102.29 70.56 86.56
6/30/2013 73.47 98.49 66.36 84.05
7/31/2013 82.38 109.01 75.12 93.42
8/31/2013 78.91 105.43 71.39 87.82
9/30/2013 86.85 114.58 79.96 93.71
10/31/2013 94.54 124.08 87.01 102.61
11/30/2013 100.41 130.40 90.33 108.79
12/31/2013 107.06 136.98 94.36 114.07
1/31/2014 101.05 130.22 87.16 106.67
2/28/2014 113.65 142.07 96.53 116.13
3/31/2014 106.99 139.63 96.81 117.94
4/30/2014 104.99 139.64 98.83 119.55
5/31/2014 113.72 147.11 102.74 124.71
6/30/2014 120.33 151.93 106.37 129.35
7/31/2014 120.73 148.07 103.08 126.19
8/31/2014 130.17 159.43 107.55 135.23
9/30/2014 127.22 155.67 101.92 131.94
10/31/2014 132.78 162.41 103.22 137.60
11/30/2014 139.60 170.72 107.30 143.99
12/31/2014 138.97 167.90 103.95 143.38
1/31/2015 135.32 163.80 100.26 136.07
2/28/2015 150.65 181.38 111.99 149.64
3/31/2015 147.44 178.18 108.67 145.69
4/30/2015 145.78 179.58 113.57 148.05
5/31/2015 149.43 183.51 114.30 151.24
6/30/2015 148.91 178.52 109.32 146.37
7/31/2015 156.13 187.96 113.08 151.53
8/31/2015 138.12 170.48 98.98 136.36
9/30/2015 128.26 163.78 91.64 130.51
10/31/2015 148.82 186.50 106.82 149.95
11/30/2015 151.32 187.30 105.79 150.70
12/31/2015 147.44 183.09 102.18 146.74
1/31/2016 130.00 167.28 90.08 134.50
2/29/2016 121.13 167.17 88.67 134.18
3/31/2016 130.09 185.19 101.47 150.07
4/30/2016 127.59 182.58 104.66 151.04
5/31/2016 135.13 188.07 105.81 155.55
6/30/2016 131.88 186.94 103.50 156.21
7/31/2016 144.49 200.48 112.10 165.66
8/31/2016 143.29 198.99 112.28 166.03
9/30/2016 145.49 200.08 113.40 166.08
10/31/2016 138.18 193.04 109.27 161.23
11/30/2016 139.58 199.41 112.28 170.90
12/31/2016 141.99 203.12 117.36 176.25
1/31/2017 152.09 213.33 122.61 181.49
2/28/2017 162.10 226.35 128.78 192.67
3/31/2017 166.85 230.12 131.22 193.01
4/30/2017 173.86 237.67 134.64 196.02
5/31/2017 178.86 246.45 139.61 200.19
6/30/2017 178.81 245.54 140.53 202.06
7/31/2017 183.55 254.72 146.29 208.27
8/31/2017 187.52 261.23 146.63 209.22
9/30/2017 189.72 265.92 152.17 215.59
10/31/2017 196.77 280.10 156.93 222.96
11/30/2017 203.83 291.65 162.50 232.86
12/31/2017 206.91 294.70 166.05 236.56
1/31/2018 228.35 322.65 180.10 255.83
2/28/2018 216.23 311.57 168.50 242.72
3/31/2018 204.87 300.28 162.64 234.01
4/30/2018 205.65 301.68 165.66 235.29
5/31/2018 220.25 319.29 167.33 243.37
6/30/2018 221.31 323.33 167.20 245.48
7/31/2018 231.99 335.75 175.54 258.34
8/31/2018 246.42 359.58 178.95 270.01
9/30/2018 246.96 362.15 180.51 272.12
10/31/2018 215.40 320.82 159.91 246.68

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.  The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names.  The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund.  Such performance would have been lower if such charges were taken into account.

$ per share as of 11/12/2018

Date 2014 2015 2016 2017 2018
Short Term 1.7122 1.8454
Long Term 1.4691 10.0774 5.4637 5.0057 2.5434
Total Amount of Distribution 1.4691 11.7896 5.4637 5.0057 4.3888
Record Date 6/16/14 6/15/15 6/20/16 6/19/17 6/18/18
Ex Div Date 6/17/14 6/16/15 6/21/16 6/20/17 6/19/18
Pay Date 6/18/14 6/16/15 6/21/16 6/20/17 6/19/18

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

Portfolio

Top Issuers

(63.0% of assets as of 10/31/2018)


Portfolio Holdings Breakdown

Country
Developed Markets
Emerging Markets
Equity Sector
Industry
Asset Allocation
Market Cap 6
Country Capital Appreciation Fund/VA Russell 1000® Growth Index Overweight / Underweight
United States 96.4% 100.0% -3.5%
Canada 1.6% - -
United Kingdom 0.9% - -
Belgium 0.4% - -
China 0.3% 0.0% 0.3%
Developed Markets Capital Appreciation Fund/VA Russell 1000® Growth Index Overweight / Underweight
Americas 98.0% 100.0% -2.0%
Europe 1.3% 0.0% 1.3%
Emerging Markets Capital Appreciation Fund/VA Russell 1000® Growth Index Overweight / Underweight
Asia Pacific 0.3% 0.0% 0.3%
Equity Sector Capital Appreciation Fund/VA Russell 1000® Growth Index Overweight / Underweight
Information Technology 31.7% 32.7% -1.0%
Consumer Discretionary 19.2% 14.8% 4.4%
Health Care 12.9% 13.6% -0.8%
Communication Services 11.4% 12.0% -0.6%
Industrials 10.8% 11.7% -0.9%
Financials 5.7% 4.3% 1.4%
Consumer Staples 2.8% 6.0% -3.2%
Energy 2.4% 0.9% 1.5%
Materials 1.4% 1.8% -0.4%
Utilities 1.3% - -
Industry Capital Appreciation Fund/VA Russell 1000® Growth Index Overweight / Underweight
Software 12.9% 10.7% 2.2%
Interactive Media & Services 10.0% 8.5% 1.5%
Internet & Direct Marketing Retail 9.1% 6.1% 3.0%
Technology Hardware Storage & Peripherals 7.0% 8.6% -1.6%
IT Services 6.4% 8.2% -1.9%
Specialty Retail 6.4% 3.9% 2.5%
Biotechnology 5.2% 4.7% 0.4%
Health Care Providers & Services 4.9% 3.5% 1.3%
Capital Markets 4.8% 2.2% 2.6%
Semiconductors & Semiconductor Equipment 4.7% 3.9% 0.8%
Hotels Restaurants & Leisure 3.6% 2.0% 1.5%
Oil Gas & Consumable Fuels 2.4% 0.6% 1.7%
Aerospace & Defense 2.2% 3.5% -1.3%
Machinery 2.2% 2.1% 0.2%
Road & Rail 1.9% 1.2% 0.7%
Airlines 1.8% 0.2% 1.6%
Commercial Services & Supplies 1.6% 0.6% 1.0%
Entertainment 1.4% 2.7% -1.3%
Gas Utilities 1.3% - -
Health Care Equipment & Supplies 1.2% 2.5% -1.3%
Asset Allocation Capital Appreciation Fund/VA Russell 1000® Growth Index Overweight / Underweight
Equity 99.6% 100.0% -0.4%
Market Cap Capital Appreciation Fund/VA Russell 1000® Growth Index Overweight / Underweight
Large 80.3% 84.6% -4.2%
Mid 14.5% 14.4% 0.2%
Small 4.7% 0.7% 4.0%
Analytics
(As of 10/31/2018)

Morningstar 10/31/2018 (based on risk adjusted performance)
Overall Rating
Number of Funds
227
Category
Large Growth
Performance Statistics
3Y
5Y
Alpha
-4.99
-3.27
Beta
1.01
1.03
Information Ratio
-1.57
-0.95
R-Squared
91.17
91.89
Sharpe Ratio
0.66
0.81
Standard Deviation
11.66
12.06
Upside Capture
91.45
95.77
Downside Capture
134.30
120.85
Sortino Ratio
0.95
1.30
Win Ratio
33.00
40.00
Loss Ratio
67.00
60.00
Tracking Error
3.47
3.46
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$287.40 B
$291.43 B
Median Market Cap (weighted)
$89.54 B
$104.90 B
P/E Ratio (LTM)
21.55
22.89
P/E Ratio (NTM)
17.98
19.55
Price/Book
5.42
7.10
Return on Equity
24.05%
23.43%
Turnover Ratio
26%
-
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
6/19/2018
Per Share ($)
$0.1866
12-Month Distribution ($)
$0.1866
Distribution Sources
  • D
Net Income
3.00%
Net Profit from Sale
97.00%
Other Capital Sources
0.00%
Tools
Morningstar logo 95x28 trans
Documents
  1. 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. 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. 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 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. 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. 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 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.  The Fund's total returns should not be expected to be the same as the returns of other funds, whether or not both funds have the same portfolio managers and/or similar names.  The Fund's total returns include reinvested distributions but do not include the charges associated with the separate account products that offer this Fund.  Such performance would have been lower if such charges were taken into account.
  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.
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