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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$14.43

$75.9 M

0.00%

1.40%

Vitals

YTD Return

0.2%

1 yr return

13.1%

3 Yr Avg Return

-6.9%

5 Yr Avg Return

5.3%

Net Assets

$75.9 M

Holdings in Top 10

44.5%

52 WEEK LOW AND HIGH

$14.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.40%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 40.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

$100,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$14.43

$75.9 M

0.00%

1.40%

PBSIX - Profile

Distributions

  • YTD Total Return 0.2%
  • 3 Yr Annualized Total Return -6.9%
  • 5 Yr Annualized Total Return 5.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.06%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Polen U.S. Small Company Growth Fund
  • Fund Family Name
    Polen Capital
  • Inception Date
    Nov 01, 2017
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Rayna Lesser Hannaway

Fund Description

The Fund typically invests in a focused portfolio of common stocks of small companies and, under normal circumstances, the Fund invests at least 80% of its net assets in securities of U.S. issuers that are small companies. This 80% policy to invest in small companies may be changed by the Board of Trustees without shareholder approval upon 60 days’ notice to shareholders. The Adviser considers small companies for this purpose to be those companies that, at the time of purchase, are generally within the range of the market capitalizations of companies in the Russell 2000® Index and the S&P SmallCap 600® Index. This policy does not require the Fund to sell the security of a small company if such company’s market capitalization moves outside the range of the market capitalizations of companies in the Russell 2000® Index and the S&P SmallCap 600® Index; however, additional purchases of such security will be subject to the 20% limitation for securities outside of the Fund’s small company portfolio. As of April 30, 2023, the weighted average market capitalization of the Fund’s holdings was approximately $47.32 billion.

The Adviser uses an intensive fundamental research process to identify companies that it believes have certain attractive characteristics, which typically reflect of an underlying competitive advantage. Those characteristics associated with the Fund’s growth style of investing include: (i) consistent and sustainable high return on capital, (ii) strong earnings growth and free cash flow generation, (iii) strong balance sheets typically with low or no net debt to total capital and (iv) competent and shareholder-oriented management teams. The Fund invests in companies that the Adviser believes have a sustainable competitive advantage within an industry with high barriers to entry. The Adviser believes that such companies not only have the potential to contribute greater returns to the Fund, but also may hold less risk of loss of capital.

The Adviser believes that consistent earnings growth is the primary driver of long-term stock price appreciation. Accordingly, the Adviser focuses its efforts on identifying and investing in a concentrated portfolio of high-quality small capitalization growth companies that, in the Adviser’s opinion, are able to deliver sustainable above average earnings growth driven by a sustainable competitive advantage. The Adviser integrates material environmental, social, and governance (ESG) factors into research analysis as part of a comprehensive evaluation of a company’s long-term financial sustainability.

The Fund is non-diversified, which means that a significant portion of the Fund’s assets may be invested in the securities of a single or small number of companies and/or in a more limited number of sectors than a diversified mutual fund. Although the Fund may not “concentrate” (invest 25% or more of its net assets) in any industry, the Fund may focus its investments from time to time in one or more sectors of the economy or stock market.

The Fund will usually sell a security if, in the view of the Adviser, there is a potential threat to the company’s competitive advantage or a degradation in its prospects for strong, long-term earnings growth. The Adviser may also sell a security if it is believed by the Adviser to be overvalued or if a more attractive investment opportunity exists. Although the Adviser may purchase and then sell a security in a shorter period of time, the Adviser typically invests in securities with the expectation of holding those investments on a long term basis.

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PBSIX - Performance

Return Ranking - Trailing

Period PBSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -2.7% 19.7% 98.60%
1 Yr 13.1% -0.7% 53.5% 89.12%
3 Yr -6.9%* -21.1% 62.1% 86.38%
5 Yr 5.3%* -3.0% 46.3% 91.03%
10 Yr N/A* 1.5% 24.5% N/A

* Annualized

Return Ranking - Calendar

Period PBSIX Return Category Return Low Category Return High Rank in Category (%)
2023 21.8% -20.5% 54.6% 10.31%
2022 -42.9% -82.1% 32.2% 92.73%
2021 12.5% -90.6% 300.1% 6.26%
2020 49.8% -63.0% 127.9% 15.56%
2019 20.6% -7.7% 42.9% 57.44%

Total Return Ranking - Trailing

Period PBSIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -2.7% 19.7% 98.60%
1 Yr 13.1% -0.7% 53.5% 89.12%
3 Yr -6.9%* -21.1% 62.1% 86.38%
5 Yr 5.3%* -3.0% 46.3% 91.03%
10 Yr N/A* 1.5% 24.5% N/A

* Annualized

Total Return Ranking - Calendar

Period PBSIX Return Category Return Low Category Return High Rank in Category (%)
2023 21.8% -19.0% 136.8% 12.06%
2022 -42.9% -59.9% 44.3% 97.16%
2021 16.4% -22.7% 411.9% 22.00%
2020 50.0% 1.5% 150.8% 28.70%
2019 21.2% 5.5% 55.3% 89.50%

NAV & Total Return History


PBSIX - Holdings

Concentration Analysis

PBSIX Category Low Category High PBSIX % Rank
Net Assets 75.9 M 183 K 28.5 B 86.36%
Number of Holdings 35 7 1188 94.99%
Net Assets in Top 10 31.1 M 57.4 K 2.83 B 80.48%
Weighting of Top 10 44.49% 7.1% 100.1% 9.86%

Top 10 Holdings

  1. Houlihan Lokey Inc 6.19%
  2. Globant SA 5.70%
  3. Hamilton Lane Inc 5.06%
  4. Alight Inc 4.79%
  5. Progyny Inc 4.35%
  6. Goosehead Insurance Inc 3.89%
  7. Wingstop Inc 3.71%
  8. Euronet Worldwide Inc 3.70%
  9. BlackLine Inc 3.57%
  10. Alarm.com Holdings Inc 3.53%

Asset Allocation

Weighting Return Low Return High PBSIX % Rank
Stocks
99.05% 77.88% 108.99% 23.32%
Cash
0.95% 0.00% 27.66% 69.78%
Preferred Stocks
0.00% 0.00% 4.08% 35.92%
Other
0.00% -0.22% 5.89% 50.78%
Convertible Bonds
0.00% 0.00% 1.57% 29.02%
Bonds
0.00% 0.00% 3.22% 28.15%

Stock Sector Breakdown

Weighting Return Low Return High PBSIX % Rank
Technology
43.11% 2.91% 75.51% 1.73%
Consumer Cyclical
24.04% 0.00% 24.04% 0.17%
Financial Services
16.38% 0.00% 42.95% 10.19%
Healthcare
13.82% 0.00% 47.90% 87.22%
Consumer Defense
2.64% 0.00% 13.56% 75.47%
Utilities
0.00% 0.00% 5.57% 50.43%
Real Estate
0.00% 0.00% 15.31% 80.14%
Industrials
0.00% 0.00% 36.64% 99.31%
Energy
0.00% 0.00% 55.49% 82.04%
Communication Services
0.00% 0.00% 15.31% 87.91%
Basic Materials
0.00% 0.00% 9.24% 89.29%

Stock Geographic Breakdown

Weighting Return Low Return High PBSIX % Rank
US
99.05% 30.27% 102.09% 22.11%
Non US
0.00% 0.00% 61.74% 46.11%

PBSIX - Expenses

Operational Fees

PBSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.40% 0.05% 23.20% 34.08%
Management Fee 1.00% 0.05% 1.62% 88.06%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.40% N/A

Sales Fees

PBSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PBSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 33.33%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PBSIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 40.00% 3.00% 439.00% 32.74%

PBSIX - Distributions

Dividend Yield Analysis

PBSIX Category Low Category High PBSIX % Rank
Dividend Yield 0.00% 0.00% 7.17% 41.97%

Dividend Distribution Analysis

PBSIX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually SemiAnnual Annual

Net Income Ratio Analysis

PBSIX Category Low Category High PBSIX % Rank
Net Income Ratio -1.06% -2.47% 1.10% 77.58%

Capital Gain Distribution Analysis

PBSIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

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PBSIX - Fund Manager Analysis

Managers

Rayna Lesser Hannaway


Start Date

Tenure

Tenure Rank

Sep 01, 2018

3.75

3.8%

Ms. Lesser Hannaway joined Polen Capital in 2017. She is co-portfolio manager of the firm’s U.S. Small Company Growth strategy and lead portfolio manager of the U.S. SMID Growth strategy. Prior to joining Polen Capital, she spent nine years in portfolio management and two years as a research analyst at Fidelity Investments in Boston evaluating small and mid-cap companies. She also spent nine years working in small cap research for Jennison Associates and Lord Abbett & Company. Ms. Lesser Hannaway received a B.A. in Economics from Barnard College, a division of Columbia University, where she graduated summa cum laude in 1996. Ms. Lesser Hannaway is a CFA® charterholder since 2000. She is a current member of the Board of Trustees at Shore Country Day School and former board member of North Shore Nursery School, both in Beverly, Massachusetts, and is actively involved with Big Brothers Big Sisters of Massachusetts Bay.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.44 9.04 5.25