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Name

As of 06/01/2026

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

Small-Cap Value Fund

BRSVX | Fund

$44.00

$332 M

0.78%

$0.34

0.90%

Vitals

YTD Return

14.0%

1 yr return

33.0%

3 Yr Avg Return

12.4%

5 Yr Avg Return

6.8%

Net Assets

$332 M

Holdings in Top 10

11.0%

52 WEEK LOW AND HIGH

$44.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.90%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 91.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 06/01/2026

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

Small-Cap Value Fund

BRSVX | Fund

$44.00

$332 M

0.78%

$0.34

0.90%

BRSVX - Profile

Distributions

  • YTD Total Return 14.0%
  • 3 Yr Annualized Total Return 12.4%
  • 5 Yr Annualized Total Return 6.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.40%
DIVIDENDS
  • Dividend Yield 0.8%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Small-Cap Value Fund
  • Fund Family Name
    Bridgeway
  • Inception Date
    Nov 07, 2003
  • Shares Outstanding
    N/A
  • Share Class
    N
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Montgomery

Fund Description

div style="margin-top:0pt;margin-bottom:0pt;font-size:9pt;font-family:arial;"The Fund invests in a diversified portfolio of small-cap stocks that are listed on the New York Stock Exchange, NYSE American, and Nasdaq. Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in stocks from among those in the small-cap value category at the time of purchase. For purposes of the Fund’s investments, “small-cap stocks” are those whose market capitalization (stock market worth) falls within the range of the Russell 2000sup style="font-size:75%;vertical-align:top"®/sup Index, an unmanaged, market value weighted index, which measures the performance of the 2,000 companies that are between the 1,000th and 3,000th largest in the market with dividends reinvested. The market capitalization range for the Russell 2000 Index was $93 million to $16 billion as of June 30, 2025. Bridgeway Capital Management, LLC (the “Adviser”) selects stocks within the small-cap value category for the Fund using a statistical approach. Value stocks are those the Adviser believes are priced cheaply relative to some financial measures of worth, such as the ratio of price to earnings, price to sales, or price to cash flow. /divdiv style="margin-top:10pt;margin-bottom:0pt;font-size:9pt;font-family:arial;"The Adviser’s investment process incorporates material environmental, social, and governance (“ESG”) information, when available, as a consideration in the ongoing assessment of potential portfolio securities. The Adviser uses ESG research and/or ratings information provided by third parties in performing this analysis and considering ESG risks. As with any consideration used in assessing portfolio securities, the Adviser may, at times, utilize ESG information to increase the weighting of an issuer with a good ESG record or decrease the weighting of an issuer with a poor ESG record. However, as ESG information is just one investment consideration, ESG considerations are not solely determinative in any investment decision made by the Adviser. /divdiv style="margin-top:10pt;margin-bottom:0pt;font-size:9pt;font-family:arial;"Although the Fund seeks investments across a number of sectors, from time to time, based on portfolio positioning to reflect its benchmark, the Fund may have significant positions in particular sectors. /divdiv style="margin-top:10pt;margin-bottom:0pt;font-size:9pt;font-family:arial;"While the Fund is managed for long-term total return on capital, the Adviser seeks to minimize capital gains distributions as part of a tax management strategy. The successful application of this method is intended to result in a more tax-efficient fund than would otherwise be the case. /div
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BRSVX - Performance

Return Ranking - Trailing

Period BRSVX Return Category Return Low Category Return High Rank in Category (%)
YTD 14.0% -6.7% 28.3% 45.27%
1 Yr 33.0% -2.8% 63.7% 39.90%
3 Yr 12.4%* -3.0% 34.9% 57.29%
5 Yr 6.8%* -5.2% 44.1% 46.22%
10 Yr 12.3%* 2.9% 31.2% 7.26%

* Annualized

Return Ranking - Calendar

Period BRSVX Return Category Return Low Category Return High Rank in Category (%)
2025 3.4% -51.1% 63.2% 31.97%
2024 -3.1% -39.7% 22.5% 76.47%
2023 11.0% -6.0% 33.6% 54.36%
2022 -8.6% -33.6% 212.9% 11.29%
2021 60.0% -62.0% 147.6% 0.54%

Total Return Ranking - Trailing

Period BRSVX Return Category Return Low Category Return High Rank in Category (%)
YTD 14.0% -6.7% 28.3% 45.27%
1 Yr 33.0% -2.8% 63.7% 39.90%
3 Yr 12.4%* -3.0% 34.9% 57.29%
5 Yr 6.8%* -5.2% 44.1% 46.22%
10 Yr 12.3%* 2.9% 31.2% 7.26%

* Annualized

Total Return Ranking - Calendar

Period BRSVX Return Category Return Low Category Return High Rank in Category (%)
2025 5.5% -6.4% 67.1% 54.73%
2024 3.7% -7.4% 26.1% 91.05%
2023 14.1% 1.8% 35.4% 64.36%
2022 -7.7% -25.2% 250.0% 25.20%
2021 67.7% -3.0% 157.9% 0.54%

NAV & Total Return History

BRSVX - Holdings

Concentration Analysis

BRSVX Category Low Category High BRSVX % Rank
Net Assets 332 M 6.04 M 64.9 B 56.78%
Number of Holdings 174 10 1553 32.23%
Net Assets in Top 10 33.7 M 482 K 3.72 B 73.91%
Weighting of Top 10 10.96% 6.1% 101.9% 88.72%

Top 10 Holdings

  1. Hancock Whitney Corporation COM 1.24%
  2. Commercial Metals Company COM 1.22%
  3. Magnolia Oil Gas Corporation CL A 1.16%
  4. Academy Sports and Outdoors Inc COM 1.14%
  5. EnerSys COM 1.06%
  6. Deluxe Corporation COM 1.06%
  7. NETSCOUT Systems Inc. COM 1.04%
  8. Rush Enterprises Inc. CL A 1.03%
  9. Bread Financial Holdings Inc COM 1.00%
  10. Fulton Financial Corporation COM 1.00%

Asset Allocation

Weighting Return Low Return High BRSVX % Rank
Stocks 		99.36% 3.76% 103.27% 25.83%
Cash 		0.64% 0.00% 30.93% 75.45%
Preferred Stocks 		0.00% 0.00% 0.95% 5.63%
Other 		0.00% -0.55% 21.38% 38.62%
Convertible Bonds 		0.00% 0.00% 2.63% 3.64%
Bonds 		0.00% 0.00% 141.40% 5.37%

Stock Sector Breakdown

Weighting Return Low Return High BRSVX % Rank
Financial Services 		24.59% 0.00% 35.05% 41.99%
Energy 		13.97% 0.00% 29.42% 9.97%
Industrials 		11.60% 0.65% 48.61% 92.39%
Real Estate 		8.89% 0.00% 44.41% 34.65%
Healthcare 		8.76% 0.00% 25.76% 18.64%
Consumer Cyclical 		8.52% 0.35% 51.62% 81.63%
Basic Materials 		7.93% 0.00% 67.30% 12.86%
Consumer Defense 		7.07% 0.00% 13.22% 12.86%
Communication Services 		4.81% 0.00% 17.58% 9.45%
Technology 		2.31% 0.00% 27.23% 98.69%
Utilities 		1.56% 0.00% 13.86% 67.19%

Stock Geographic Breakdown

Weighting Return Low Return High BRSVX % Rank
US 		99.36% 3.76% 103.27% 14.58%
Non US 		0.00% 0.00% 61.95% 35.29%

BRSVX - Expenses

Operational Fees

BRSVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.90% 0.03% 36.05% 74.94%
Management Fee 0.64% 0.01% 1.50% 17.95%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.35% N/A

Sales Fees

BRSVX 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% 4.00% N/A

Trading Fees

BRSVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

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.

BRSVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 91.00% 7.00% 252.00% 88.20%

BRSVX - Distributions

Dividend Yield Analysis

BRSVX Category Low Category High BRSVX % Rank
Dividend Yield 0.78% 0.00% 14.14% 42.97%

Dividend Distribution Analysis

BRSVX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Annual

Net Income Ratio Analysis

BRSVX Category Low Category High BRSVX % Rank
Net Income Ratio 0.40% -1.43% 4.13% 51.44%

Capital Gain Distribution Analysis

BRSVX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

BRSVX - Fund Manager Analysis

Managers

John Montgomery

Start Date

Tenure

Tenure Rank

Oct 31, 2003

18.59

18.6%

John, CIO and President,founded Bridgeway in 1993.He worked with computer modeling and quantitative methods as a research engineer at MIT in the late 1970s. Later, as a student at Harvard, he investigated methods to apply modeling to portfolio management. He began applying these methods to his investments in 1985. Over the next 6 years, this style proved more successful than even John had expected. He left his full-time position in the transportation industry at the end of 1991 to perform full-time research on his models, study the mutual fund industry, and write a business plan for Bridgeway.

Michael Whipple

Start Date

Tenure

Tenure Rank

Oct 28, 2005

16.6

16.6%

Mike Whipple, CFA, FRM, is a portfolio manager and began working for Bridgeway in 2002. His responsibilities include portfolio management, investment research, and statistical modeling. He holds a BS in Accountancy and Finance from Miami University in Ohio. Michael worked in public accounting with a focus in auditing from 1993 to 2000 before attending the University of Chicago Booth School of Business from 2000 to 2002, where he earned his MBA.

Elena Khoziaeva

Start Date

Tenure

Tenure Rank

Oct 28, 2005

16.6

16.6%

Elena Khoziaeva, CFA, is a portfolio manager and began working at Bridgeway in 1998. Her responsibilities include portfolio management, investment research, and statistical modeling. Elena earned a Bachelor of Economic Sciences from Belarussian State Economic University in Minsk and graduated with highest honors from the University of Houston with an MBA in Accounting.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 37.45 8.37 3.58

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