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Domestic Equity

Discovery Fund
  • A
  • 1

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

Investment Style
Small Cap Growth
Fund Inception
September 11, 1986
Total Assets (all classes) (as of 7/31/2017)
$2.03 billion
Fund Index
Russell 2000 Growth
NAV (as of 8/15/17)
  • B
$76.77
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.

×

Equity

Fixed Income

Municipal Bond
performance
analytics
holdings
as of 7/31/2017
  • C
as of 6/30/2017
  • C

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • C
Cumulative
Annualized
ytd as of 8/15/17
  • D
1 yr 3 yr 5 yr 10 yr since inception
Discovery Fund (NAV)
13.33% 18.44% 7.62% 12.52% 8.51% 10.29%
Cumulative
Annualized
ytd as of 8/15/17
  • D
1 yr 3 yr 5 yr 10 yr since inception
Discovery Fund (with sales charge)
13.33% 11.64% 5.52% 11.19% 7.87% 10.08%
Cumulative
Annualized
ytd as of 8/15/17
  • D
1 yr 3 yr 5 yr 10 yr since inception
Discovery Fund (NAV)
13.33% 15.18% 10.40% 12.76% 8.82% 10.31%
Cumulative
Annualized
ytd as of 8/15/17
  • D
1 yr 3 yr 5 yr 10 yr since inception
Discovery Fund (with sales charge)
13.33% 8.56% 8.24% 11.44% 8.18% 10.10%
Gross Expense Ratio: 1.12% | Net Expense Ratio: 1.12%

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 Discovery Fund Russell 2000 Growth
1986 0.00% -
1987 13.66% -
1988 19.69% -
1989 34.03% -
1990 -15.05% -
1991 72.31% -
1992 16.63% 7.77%
1993 17.84% 13.37%
1994 -11.18% -2.43%
1995 36.79% 31.04%
1996 14.79% 11.26%
1997 10.36% 12.95%
1998 -2.00% 1.23%
1999 51.31% 43.09%
2000 -13.26% -22.43%
2001 -11.59% -9.23%
2002 -24.10% -30.26%
2003 38.98% 48.54%
2004 3.98% 14.31%
2005 1.34% 4.15%
2006 4.84% 13.35%
2007 25.81% 7.05%
2008 -38.59% -38.54%
2009 27.31% 34.47%
2010 27.75% 29.09%
2011 1.47% -2.91%
2012 16.99% 14.59%
2013 46.12% 43.30%
2014 -2.19% 5.60%
2015 1.98% -1.38%
2016 4.23% 11.32%

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 Discovery Fund Russell 2000® Growth Index MSCI World S&P 500
7/31/2007 0.00 0.00 0.00 0.00
8/31/2007 3.12 2.52 -0.08 1.50
9/30/2007 10.38 5.49 4.68 5.29
10/31/2007 17.31 10.24 7.89 6.97
11/30/2007 9.91 2.63 3.48 2.50
12/31/2007 11.69 3.27 2.14 1.79
1/31/2008 -0.59 -6.20 -5.66 -4.32
2/29/2008 -4.23 -9.45 -6.21 -7.43
3/31/2008 -5.38 -9.97 -7.11 -7.83
4/30/2008 1.25 -5.35 -2.23 -3.34
5/31/2008 7.20 0.01 -0.74 -2.09
6/30/2008 5.12 -5.95 -8.65 -10.34
7/31/2008 5.20 -3.76 -10.88 -11.09
8/31/2008 5.24 -1.37 -12.14 -9.81
9/30/2008 -8.14 -12.52 -22.59 -17.84
10/31/2008 -25.42 -31.50 -37.26 -31.64
11/30/2008 -33.99 -39.79 -41.33 -36.55
12/31/2008 -31.41 -36.53 -39.44 -35.87
1/31/2009 -34.65 -41.36 -44.75 -41.28
2/28/2009 -40.62 -47.43 -50.40 -47.53
3/31/2009 -37.24 -42.71 -46.66 -42.93
4/30/2009 -33.27 -34.09 -40.68 -37.47
5/31/2009 -31.23 -31.54 -35.31 -33.97
6/30/2009 -29.13 -29.32 -35.60 -33.84
7/31/2009 -24.92 -23.84 -30.14 -28.84
8/31/2009 -23.95 -23.09 -27.26 -26.27
9/30/2009 -19.16 -18.04 -24.36 -23.52
10/31/2009 -23.00 -23.74 -25.71 -24.94
11/30/2009 -19.46 -21.38 -22.67 -20.44
12/31/2009 -12.68 -14.65 -21.28 -18.90
1/31/2010 -17.17 -18.47 -24.54 -21.82
2/28/2010 -13.88 -14.91 -23.47 -19.40
3/31/2010 -7.00 -8.15 -18.73 -14.53
4/30/2010 -4.11 -4.30 -18.72 -13.18
5/31/2010 -10.07 -10.62 -26.51 -20.12
6/30/2010 -16.06 -16.62 -29.03 -24.30
7/31/2010 -12.10 -11.11 -23.27 -18.99
8/31/2010 -16.33 -17.59 -26.14 -22.65
9/30/2010 -5.71 -5.92 -19.25 -15.75
10/31/2010 -0.12 -1.87 -16.24 -12.54
11/30/2010 5.30 2.40 -18.05 -12.53
12/31/2010 11.55 10.18 -12.02 -6.68
1/31/2011 13.67 9.56 -10.04 -4.47
2/28/2011 22.19 16.00 -6.89 -1.20
3/31/2011 28.07 20.36 -7.80 -1.16
4/30/2011 34.20 24.69 -3.89 1.77
5/31/2011 30.48 22.26 -5.88 0.61
6/30/2011 29.73 19.65 -7.37 -1.06
7/31/2011 24.27 14.96 -9.05 -3.07
8/31/2011 13.93 5.11 -15.46 -8.34
9/30/2011 4.24 -6.97 -22.76 -14.78
10/31/2011 16.18 7.78 -14.77 -5.47
11/30/2011 15.27 7.21 -16.85 -5.68
12/31/2011 13.19 6.97 -16.90 -4.71
1/31/2012 18.87 14.97 -12.73 -0.44
2/29/2012 26.19 18.76 -8.46 3.86
3/31/2012 29.66 21.17 -7.29 7.28
4/30/2012 33.00 19.18 -8.34 6.61
5/31/2012 24.06 10.69 -16.25 0.20
6/30/2012 27.50 16.40 -11.98 4.33
7/31/2012 27.78 14.37 -10.85 5.78
8/31/2012 33.46 18.48 -8.59 8.16
9/30/2012 37.45 22.03 -6.08 10.95
10/31/2012 32.48 18.24 -6.72 8.90
11/30/2012 30.76 19.15 -5.52 9.54
12/31/2012 32.43 22.58 -3.75 10.53
1/31/2013 40.12 30.64 1.16 16.26
2/28/2013 40.46 32.03 1.32 17.84
3/31/2013 47.54 38.77 3.70 22.26
4/30/2013 46.17 37.86 6.96 24.61
5/31/2013 53.12 44.86 7.00 27.53
6/30/2013 54.31 43.95 4.37 25.82
7/31/2013 66.77 54.84 9.86 32.22
8/31/2013 69.15 51.82 7.52 28.39
9/30/2013 79.48 62.38 12.90 32.41
10/31/2013 83.73 65.34 17.32 38.50
11/30/2013 88.25 72.13 19.41 42.72
12/31/2013 93.49 75.65 21.93 46.34
1/31/2014 90.39 72.62 17.42 41.28
2/28/2014 100.24 80.97 23.29 47.74
3/31/2014 88.86 76.51 23.47 48.98
4/30/2014 72.34 67.44 24.74 50.08
5/31/2014 71.73 69.06 27.19 53.60
6/30/2014 84.49 79.55 29.47 56.78
7/31/2014 73.12 68.67 27.40 54.62
8/31/2014 81.32 78.08 30.21 60.80
9/30/2014 75.52 68.54 26.67 58.55
10/31/2014 84.61 79.00 27.49 62.42
11/30/2014 86.39 80.16 30.05 66.79
12/31/2014 89.25 85.50 27.95 66.37
1/31/2015 85.86 81.26 25.63 61.37
2/28/2015 99.82 94.31 32.99 70.65
3/31/2015 103.29 97.80 30.91 67.95
4/30/2015 96.03 91.98 33.98 69.56
5/31/2015 105.64 99.03 34.44 71.74
6/30/2015 110.47 101.71 31.32 68.41
7/31/2015 117.33 102.53 33.67 71.94
8/31/2015 99.44 87.18 24.83 61.57
9/30/2015 90.31 75.36 20.22 57.57
10/31/2015 97.55 85.31 29.75 70.86
11/30/2015 100.64 92.10 29.11 71.37
12/31/2015 93.00 82.94 26.84 68.67
1/31/2016 74.58 63.11 19.25 60.30
2/29/2016 71.07 61.96 18.36 60.08
3/31/2016 81.81 74.37 26.39 70.94
4/30/2016 84.74 76.11 28.39 71.60
5/31/2016 89.78 80.85 29.11 74.69
6/30/2016 94.14 80.02 27.67 75.14
7/31/2016 102.26 91.79 33.06 81.60
8/31/2016 103.00 93.83 33.17 81.85
9/30/2016 102.97 96.62 33.88 81.89
10/31/2016 92.57 84.40 31.29 78.57
11/30/2016 104.25 100.90 33.18 85.18
12/31/2016 101.15 103.64 36.36 88.84
1/31/2017 109.76 106.95 39.65 92.42
2/28/2017 114.45 112.02 43.53 100.06
3/31/2017 118.73 114.53 45.06 100.30
4/30/2017 124.07 118.48 47.21 102.35
5/31/2017 127.37 116.50 50.32 105.20
6/30/2017 129.95 123.95 50.90 106.48
7/31/2017 132.95 125.85 54.51 110.73

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 8/16/2017

Date 2012 2013 2014 2015 2016
Short Term
Long Term 4.3957 5.9890 7.0126 4.6368 2.9326
Total Amount of Distribution 4.3957 5.9890 7.0126 4.6368 2.9326
Record Date 12/4/12 12/3/13 12/2/14 12/2/15 12/5/16
Ex Div Date 12/5/12 12/4/13 12/3/14 12/3/15 12/6/16
Pay Date 12/6/12 12/5/13 12/3/14 12/3/15 12/6/16

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

Analytics

(As of 7/31/2017)

Morningstar 7/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
603
Category
Small Growth
Analyst Rating (as of 7/26/17)
Silver
Performance Statistics
3Y
5Y
Alpha
1.83
-0.21
Information Ratio
0.03
-0.34
Upside Capture
87.05
88.88
Downside Capture
79.16
89.96
Sharpe Ratio
0.78
0.91
R-Squared
87.50
86.48
Standard Deviation
13.61
14.14
Sortino Ratio
0.33
0.41
Win Ratio
53.00
47.00
Loss Ratio
47.00
53.00
Beta
0.82
0.90
Tracking Error
5.58
5.40
Dividends
  • E
Est. Frequency
Annual
Last Pay Date
12/6/2016
Per Share ($)
$0.00
Net Income
0.00%
Net Profit from Sale
100.00%
Other Capital Sources
0.00%
12-Month Distribution ($)
$0.00
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$4.20 B
$2.30 B
Median Market Cap (weighted)
$3.70 B
$2.20 B
Trailing P/E
45.71
52.23
Forward P/E
30.37
30.31
Price/Book
5.14
4.32
Return on Equity
10.03%
5.90%
Turnover Ratio
89.00%
-

Top Issuers

(31.1% of assets as of 07/31/17)


Portfolio Holdings Breakdown

Country 5
Developed Markets 5
Equity Sector 5
Industry 5
Asset Allocation 5
Market Cap 6
Country Discovery Fund Russell 2000 Growth Overweight / Underweight
United States 93.6% 99.7% -6.1%
Canada 0.8% 0.1% 0.8%
Germany 0.7% - -
Israel 0.5% 0.1% 0.4%
Developed Markets Discovery Fund Russell 2000 Growth Overweight / Underweight
Americas 94.5% 99.9% -5.5%
Europe 0.7% 0.0% 0.7%
Middle East 0.5% 0.1% 0.4%
Equity Sector Discovery Fund Russell 2000 Growth Overweight / Underweight
Information Technology 28.1% 24.8% 3.3%
Health Care 21.7% 23.8% -2.1%
Industrials 19.6% 17.5% 2.1%
Consumer Discretionary 12.5% 14.1% -1.6%
Financials 7.6% 6.1% 1.5%
Materials 3.3% 4.6% -1.4%
Consumer Staples 1.1% 2.6% -1.6%
Energy 1.0% 1.1% -0.1%
Real Estate 0.8% 3.5% -2.8%
Industry Discovery Fund Russell 2000 Growth Overweight / Underweight
Software 10.2% 6.2% 3.9%
Health Care Equipment & Supplies 9.6% 6.0% 3.6%
Semiconductors & Semiconductor Equipment 8.1% 5.3% 2.7%
Internet Software & Services 5.9% 5.2% 0.7%
Aerospace & Defense 4.5% 0.9% 3.5%
Machinery 4.4% 4.3% 0.1%
Hotels Restaurants & Leisure 4.0% 4.6% -0.6%
Biotechnology 4.0% 8.7% -4.7%
Electronic Equipment Instruments & Components 3.9% 2.3% 1.7%
Construction & Engineering 3.5% 1.5% 2.0%
Health Care Technology 3.4% 1.3% 2.1%
Banks 3.0% 2.2% 0.8%
Air Freight & Logistics 2.3% 0.3% 2.0%
Building Products 2.2% 1.9% 0.2%
Capital Markets 2.2% 1.5% 0.7%
Life Sciences Tools & Services 2.1% 1.5% 0.6%
Trading Companies & Distributors 2.1% 1.1% 1.0%
Distributors 1.8% 0.2% 1.6%
Chemicals 1.8% 2.7% -0.9%
Diversified Consumer Services 1.7% 1.1% 0.7%
Asset Allocation Discovery Fund Russell 2000 Growth Overweight / Underweight
Equity 95.7% 100.0% -4.3%
Market Cap Discovery Fund Russell 2000 Growth Overweight / Underweight
Small 57.6% 93.8% -36.2%
Mid 36.8% 6.0% 30.8%
Large 1.2% - -
  1. 1. Special Risks: 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. 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. 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 more likely to outperform over the long term on a risk-adjusted basis. Analysts consider quantitative and qualitative factors and the weightings of each pillar may vary. The Analyst Rating reflects overall assessment and is overseen by Morningstar's Analyst Rating Committee. The analyst rating scale is five-tiered, with three positive 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 cause Mstar's expectations not to occur or to differ significantly.
  5. 5. 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.
  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. 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. ↩
  8. 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. ↩
  9. 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. ↩
  10. 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. ↩
  11. E. There is no guarantee of the payment of any dividend or other distributions at any level. ↩
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