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Emerging Markets Equity

Emerging Markets Innovators Fund

The Strategy typically invests in smaller and mid-cap emerging and developing market stocks.

Investment Style
Emerging Markets Innovators
Fund Inception
June 30, 2014
Total Assets (all classes) (as of 6/30/2017)
$291 million
Fund Index
MSCI EM Mid Cap Index
NAV (as of 7/21/17)
  • A
$10.37

Equity

Fixed Income

Municipal Bond
performance
analytics
holdings
as of 6/30/2017
  • B
as of 6/30/2017
  • B

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • B
Cumulative
Annualized
1 mo 3 mo ytd as of 7/21/17
  • C
1 yr 3 yr since inception
Emerging Markets Innovators Fund (NAV)
1.33% 6.79% 26.00% 16.59% -0.25% -0.25%
Cumulative
Annualized
1 mo 3 mo ytd as of 7/21/17
  • C
1 yr 3 yr since inception
Emerging Markets Innovators Fund (with sales charge)
-4.50% 0.65% 26.00% 9.88% -2.20% -2.20%
Cumulative
Annualized
1 mo 3 mo ytd as of 7/21/17
  • C
1 yr 3 yr since inception
Emerging Markets Innovators Fund (NAV)
1.33% 6.79% 26.00% 16.59% -0.25% -0.25%
Cumulative
Annualized
1 mo 3 mo ytd as of 7/21/17
  • C
1 yr 3 yr since inception
Emerging Markets Innovators Fund (with sales charge)
-4.50% 0.65% 26.00% 9.88% -2.20% -2.20%
Gross Expense Ratio: 1.77% | Net Expense Ratio: 1.71%

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 Emerging Markets Innovators Fund MSCI EM Mid Cap Index
2014 0.00% -
2015 -6.09% -13.21%
2016 -1.20% 4.84%

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 Emerging Markets Innovators Fund MSCI Emerging Markets Mid Cap Index MSCI EAFE MSCI World
6/30/2014 0.00 0.00 0.00 0.00
7/31/2014 -2.70 1.09 -1.96 -1.60
8/31/2014 -0.70 3.69 -2.11 0.57
9/30/2014 -4.00 -2.93 -5.88 -2.16
10/31/2014 -4.50 -3.23 -7.24 -1.52
11/30/2014 -7.90 -4.45 -5.98 0.45
12/31/2014 -11.17 -8.43 -9.24 -1.17
1/31/2015 -12.17 -7.16 -8.79 -2.96
2/28/2015 -10.17 -4.93 -3.34 2.72
3/31/2015 -9.27 -5.86 -4.81 1.12
4/30/2015 -3.86 1.89 -0.92 3.49
5/31/2015 -5.36 -1.69 -1.43 3.84
6/30/2015 -5.96 -5.54 -4.22 1.43
7/31/2015 -10.07 -10.50 -2.23 3.25
8/31/2015 -17.68 -18.56 -9.43 -3.58
9/30/2015 -20.18 -20.50 -14.03 -7.14
10/31/2015 -15.98 -15.66 -7.31 0.22
11/30/2015 -16.78 -18.69 -8.75 -0.28
12/31/2015 -16.58 -20.53 -9.98 -2.03
1/31/2016 -19.98 -25.20 -16.49 -7.89
2/29/2016 -22.18 -25.78 -18.02 -8.58
3/31/2016 -16.78 -16.38 -12.68 -2.37
4/30/2016 -15.78 -15.37 -10.15 -0.83
5/31/2016 -16.58 -18.99 -10.97 -0.27
6/30/2016 -14.87 -16.46 -13.96 -1.39
7/31/2016 -12.47 -11.39 -9.60 2.78
8/31/2016 -11.17 -10.91 -9.53 2.86
9/30/2016 -9.47 -10.39 -8.42 3.41
10/31/2016 -10.87 -10.76 -10.30 1.41
11/30/2016 -17.58 -16.12 -12.08 2.86
12/31/2016 -17.58 -16.68 -9.08 5.33
1/31/2017 -13.37 -12.10 -6.44 7.87
2/28/2017 -11.37 -8.73 -5.10 10.86
3/31/2017 -7.06 -6.16 -2.49 12.04
4/30/2017 -2.05 -4.12 -0.01 13.70
5/31/2017 -2.05 -1.66 3.66 16.11
6/30/2017 -0.75 -1.52 3.48 16.55

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 7/21/2017

Date 2012 2013 2014 2015 2016
Short Term 0.0050
Long Term
Total Amount of Distribution 0.0050
Record Date 12/4/14
Ex Div Date 12/5/14
Pay Date 12/5/14

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

Analytics

(As of 6/30/2017)

Morningstar 6/30/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
634
Category
Diversified Emerging Mkts
Performance Statistics
3Y
Alpha
-0.01
Information Ratio
0.03
Upside Capture
74.94
Downside Capture
74.96
Sharpe Ratio
0.02
R-Squared
76.34
Standard Deviation
12.56
Sortino Ratio
0.01
Win Ratio
47.00
Loss Ratio
53.00
Beta
0.71
Tracking Error
7.62
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
12/5/2014
Per Share ($)
$0.01
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$5.00 B
$4.40 B
Median Market Cap (weighted)
$2.80 B
$3.70 B
Trailing P/E
25.63
17.69
Forward P/E
19.46
13.61
Price/Book
3.94
1.70
Return on Equity
22.33%
12.89%
Turnover Ratio
26.00%
-

Top Issuers

(38.7% of assets as of 06/30/17)


Portfolio Holdings Breakdown

Country 4
Developed Markets 4
Emerging Markets 4
Equity Sector 4
Industry 4
Asset Allocation 4
Market Cap 5
Country Emerging Markets Innovators Fund MSCI EM Mid Cap Index Overweight / Underweight
China 17.0% 22.5% -5.5%
Taiwan 13.3% 11.4% 1.9%
India 11.6% 8.1% 3.5%
South Korea 10.2% 15.6% -5.4%
Brazil 5.8% 8.4% -2.6%
Hong Kong 3.8% 0.4% 3.5%
Malaysia 3.8% 2.8% 1.1%
South Africa 3.1% 8.4% -5.3%
Mexico 2.9% 4.2% -1.3%
United Kingdom 1.9% - -
Indonesia 1.9% 2.3% -0.4%
Thailand 1.7% 2.4% -0.7%
Poland 1.7% 2.0% -0.3%
Portugal 1.5% - -
Sri Lanka 1.4% - -
Philippines 1.4% 1.3% 0.0%
Colombia 1.3% 0.5% 0.8%
Argentina 1.2% - -
Egypt 1.2% 0.2% 1.0%
Hungary 1.0% 0.5% 0.5%
Developed Markets Emerging Markets Innovators Fund MSCI EM Mid Cap Index Overweight / Underweight
Europe 3.8% - -
Asia Pacific 3.8% 0.4% 3.5%
Emerging Markets Emerging Markets Innovators Fund MSCI EM Mid Cap Index Overweight / Underweight
Asia Pacific 63.5% 67.2% -3.6%
Americas 11.5% 14.5% -3.0%
Europe 5.3% 7.7% -2.4%
Africa 4.7% 8.6% -3.9%
Middle East 0.6% 1.5% -1.0%
Equity Sector Emerging Markets Innovators Fund MSCI EM Mid Cap Index Overweight / Underweight
Consumer Discretionary 25.4% 15.8% 9.6%
Information Technology 17.8% 12.3% 5.4%
Health Care 16.3% 6.8% 9.4%
Financials 13.7% 14.3% -0.7%
Consumer Staples 7.8% 7.7% 0.1%
Industrials 6.6% 14.8% -8.2%
Materials 4.5% 10.1% -5.6%
Real Estate 1.2% 7.1% -5.9%
Industry Emerging Markets Innovators Fund MSCI EM Mid Cap Index Overweight / Underweight
Biotechnology 8.7% 0.7% 8.0%
Banks 7.5% 5.6% 1.9%
Electronic Equipment Instruments & Components 7.1% 3.2% 3.9%
Diversified Consumer Services 6.4% 2.0% 4.5%
Hotels Restaurants & Leisure 5.0% 0.6% 4.4%
Auto Components 4.5% 1.2% 3.3%
IT Services 4.0% 0.4% 3.6%
Food & Staples Retailing 3.8% 2.3% 1.5%
Consumer Finance 3.6% 0.8% 2.8%
Software 3.5% 1.0% 2.4%
Pharmaceuticals 3.0% 4.2% -1.2%
Specialty Retail 3.0% 1.5% 1.5%
Personal Products 2.8% 0.5% 2.4%
Textiles Apparel & Luxury Goods 2.8% 3.6% -0.8%
Construction Materials 2.3% 1.5% 0.8%
Health Care Providers & Services 2.3% 1.4% 0.8%
Chemicals 2.2% 3.1% -0.9%
Semiconductors & Semiconductor Equipment 1.9% 2.5% -0.6%
Capital Markets 1.8% 2.7% -0.9%
Machinery 1.7% 1.8% 0.0%
Asset Allocation Emerging Markets Innovators Fund MSCI EM Mid Cap Index Overweight / Underweight
Equity 93.3% 100.0% -6.7%
Net Cash and Equivalents 6.7% - -
Market Cap Emerging Markets Innovators Fund MSCI EM Mid Cap Index Overweight / Underweight
Mid 42.3% 33.8% 8.4%
Large 39.9% 65.4% -25.5%
Small 10.8% 0.7% 10.1%
  1. 1. Special Risks 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. These risks are magnified in frontier markets. Investing significantly in a particular region, industry, sector or issuer may increase volatility and risk. Small and 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 small-sized or mid-sized company, if any gain is realized at all. Investments in securities of growth companies may be volatile.
  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. 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. ↩
  7. 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. 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. ↩
  8. 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. ↩
  9. D. There is no guarantee of the payment of any dividend or other distributions at any level. ↩
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