CATHOLIC RESPONSIBLE INVESTMENTS EQUITY INDEX FUND
Name
As of 10/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
21.1%
1 yr return
34.3%
3 Yr Avg Return
N/A
5 Yr Avg Return
N/A
Net Assets
$3.48 B
Holdings in Top 10
35.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.11%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee 2.00%
Min Investment
Standard (Taxable)
$3,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/07/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
CRQSX - Profile
Distributions
- YTD Total Return 21.1%
- 3 Yr Annualized Total Return N/A
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio N/A
- Dividend Yield 1.2%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameCATHOLIC RESPONSIBLE INVESTMENTS EQUITY INDEX FUND
-
Fund Family NameCatholic Responsible Investments Funds
-
Inception DateJan 27, 2022
-
Shares Outstanding337581466
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJulie Lind
Fund Description
The Fund uses a passive optimization process managed by Rhumbline Advisers, the Fund’s Sub-Adviser (“Sub-Adviser”), which is designed to track the performance of the S&P 500® Index (the “Index”). The Fund is not managed according to traditional methods of “active” investment management, which involve the buying and selling of securities based upon economic, financial and market analysis and investment judgment. Instead, the Fund, using an “indexing” investment approach, attempts to replicate, before expenses, the performance of the Index. The Index is a well-known stock market index that includes common stocks of approximately 500 companies from all major industries representing a significant portion of the market value of all common stocks publicly traded in the United States, most of which are listed on the New York Stock Exchange. Under normal
circumstances, the Fund intends to invest at least 95% of its net assets, plus any borrowings for investment purposes, in securities listed in the Index.
The market value of the Fund’s investments in derivatives or other synthetic instruments that provide exposure comparable, in the judgment of the Adviser or Sub-Adviser, to the foregoing types of investments may be counted toward the Fund’s goal of investing at least 95% of its net assets in securities listed in the Index. The Fund attempts to replicate the investment performance of the Index and generally intends to invest in all stocks comprising the Index in approximate proportion to their weightings in the Index, except with respect to securities screened by the Adviser’s Catholic Responsible Investment criteria. The Fund is designed to balance the impact of Catholic Investment screens by overweighting select holdings so that the Fund’s broad quantitative characteristics match those of the Index as closely as possible. However, it may not be possible or practicable to purchase all stocks of the Index in those weightings. When it is not possible or practicable to purchase all stocks of the Index in those weightings, the Fund may purchase a sample of the stocks listed in the Index in proportions expected by the Sub-Adviser to match generally the performance of the Index as a whole. In addition, from time to time stocks are added to or removed from the Index. The Fund may sell securities that are represented in the Index, or purchase securities that are not represented in the Index, in anticipation of their removal from or addition to the Index, or if the Fund’s Sub-Adviser determines a stock to be substantially impaired by extraordinary events or financial conditions, including insufficient liquidity.
In addition to common stocks in the Index, the Fund may at times purchase or sell futures contracts on the Index, or options on those futures, in lieu of investing directly in the stocks making up the Index. The Fund might do so, for example, in order to increase its investment exposure pending investment of cash in the stocks comprising the Index. Alternatively, the Fund might use futures or options on futures to reduce its investment exposure in situations where it intends to sell a portion of the stocks in its portfolio but the sale has not yet been completed. The Fund may also enter into other derivatives transactions, including the use of options or swap transactions, to assist in attempting to replicate the performance of the Index. Some of these investments will cause the Fund to be, in part, indirectly exposed to companies that would otherwise be screened out by the Adviser’s Catholic Responsible Investments screening criteria. Accordingly, the Fund limits such investments to situations where they (a) do not constitute, in the aggregate, more than 5% of the Fund’s investments at any time, and (b) where the Adviser determines such investments are necessary to achieve the Fund’s investment objective and when the Adviser believes there are no reasonable alternative investments that exist that are consistent with its Catholic Responsible Investing screening criteria.
The Fund is classified as diversified under the Investment Company Act of 1940, as amended ( the “1940 Act”); however, the Fund may become non-diversified solely as a result of a changes in the composition of the Index
(e.g., changes in weightings of one or more component securities). When the Fund is non-diversified, it may invest a relatively high percentage of its assets in a limited number of issuers.
The Fund will not concentrate (i.e., invest more than 25% of its assets) its investments in a particular industry except to the extent the Index is so concentrated.
The Adviser has engaged Mercer Investments LLC (“Mercer”), the Fund’s primary sub-adviser, to provide ongoing research, opinions and recommendations of institutional asset managers and their investment funds for consideration by the Adviser, on behalf of the Fund, with respect to sub-adviser selection and portfolio construction. However, Mercer does not have discretionary authority with respect to the investment of the Fund’s assets.
The Adviser, working closely with Mercer and in consideration of its recommendations, uses both a quantitative screening process and qualitative selection process when selecting investments for the Fund to implement its investment strategy. The Adviser and Mercer conduct research on various investment managers and investment options in order to establish a selection of investments to fulfill the Fund’s investment objectives. Mercer’s assistance and recommendations for selection of investment funds are made according to asset allocation, return expectations and other guidelines set by the Adviser with oversight of the Board. No assurance can be given that any or all investment strategies, or the Fund’s investment program, will be successful.
Catholic Responsible Investing
The Fund will invest its assets in a manner consistent with the components, details and definitions of Catholic Responsible Investing (“CRI”) as adopted from time to time by the De La Salle Brothers of the Christian Schools. CRI is an investment strategy designed specifically to help investors seek sound financial returns while remaining faithful to the teachings of the Roman Catholic Church. The components and details of CRI are intended to reflect both the charism (or founding spirit) and the current teachings of the Roman Catholic Church and, as such, the components and details are as adopted from time to time by the De La Salle Brothers of the Christian Schools, currently through the action of its civil entity, the Adviser.
CRI blends core Roman Catholic Church teaching with a disciplined, diversified investment process aimed at delivering competitive, risk-adjusted returns over time. Currently, the three components of CRI are Catholic investment screening, active ownership and diversified investment management. For more information about the Fund’s policy to invest consistent with CRI and these three components, please see the section of the prospectus entitled “More Information about the Funds’ Investment Objectives, Principal Investment Strategies and Principal Risks, Fundamental Investment Policy of Catholic Responsible Investing.”
As part of the Fund’s Catholic Responsible Investing Process, the Adviser maintains a master list of global securities that are restricted from inclusion in the Fund’s portfolio. While the Catholic Responsible Investing screening criteria are designed to exclude certain companies from the potential investment universe because these companies operate business deemed inconsistent with Catholic values, the Adviser does not anticipate this reduction to have a material impact on the Fund’s ability to achieve its investment objective. To illustrate the impact of excluding securities from the S&P 500 Index, as of October 31, 2023, 63 large-cap U.S. equity stocks were excluded by the Catholic Responsible Investing screening criteria, or approximately 12.77% of the market value of the S&P 500 Index, weighted by capitalization. The Adviser seeks to balance the impact of the Catholic Responsible Investing screening criteria by overweighting select portfolio holdings so that the Fund’s overall portfolio composition is adjusted to achieve its investment objective. While this may increase short term tracking error of the Fund, the Fund seeks to match the total return of the S&P 500 Index, gross of fees and expenses, over three- and five-year periods while attempting to maintain an expected annualized tracking error of no greater than 0.75%, gross of fees and expenses.
CRQSX - Performance
Return Ranking - Trailing
Period | CRQSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 21.1% | 4.3% | 35.1% | 48.91% |
1 Yr | 34.3% | 8.4% | 55.4% | 41.38% |
3 Yr | N/A* | -10.6% | 16.8% | 13.39% |
5 Yr | N/A* | -7.8% | 111.2% | 6.90% |
10 Yr | N/A* | 0.0% | 52.7% | 5.41% |
* Annualized
Return Ranking - Calendar
Period | CRQSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 26.3% | -42.6% | 47.4% | 6.33% |
2022 | N/A | -56.3% | -4.2% | N/A |
2021 | N/A | -27.2% | 537.8% | N/A |
2020 | N/A | -22.5% | 2181.7% | N/A |
2019 | N/A | -13.5% | 40.4% | N/A |
Total Return Ranking - Trailing
Period | CRQSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 21.1% | 4.3% | 35.1% | 48.91% |
1 Yr | 34.3% | 8.4% | 55.4% | 41.38% |
3 Yr | N/A* | -10.6% | 16.8% | 11.84% |
5 Yr | N/A* | -7.8% | 111.2% | 6.89% |
10 Yr | N/A* | 0.0% | 52.7% | 4.84% |
* Annualized
Total Return Ranking - Calendar
Period | CRQSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 28.2% | -5.0% | 47.4% | 12.42% |
2022 | N/A | -36.8% | -2.2% | N/A |
2021 | N/A | 3.0% | 537.8% | N/A |
2020 | N/A | -15.8% | 2266.0% | N/A |
2019 | N/A | -0.4% | 241.3% | N/A |
NAV & Total Return History
CRQSX - Holdings
Concentration Analysis
CRQSX | Category Low | Category High | CRQSX % Rank | |
---|---|---|---|---|
Net Assets | 3.48 B | 2.34 M | 1.55 T | 35.60% |
Number of Holdings | 439 | 2 | 4002 | 23.54% |
Net Assets in Top 10 | 1.37 B | 979 K | 517 B | 34.63% |
Weighting of Top 10 | 35.34% | 0.3% | 112.9% | 59.38% |
Top 10 Holdings
- MICROSOFT CORP COMMON STOCK 7.20%
- APPLE INC COMMON STOCK 6.87%
- NVIDIA CORP COMMON STOCK 6.21%
- AMAZON.COM INC COMMON STOCK 3.69%
- META PLATFORMS INC COMMON STOCK 2.23%
- ALPHABET INC-CL A COMMON STOCK 2.22%
- BERKSHIRE HATHAWAY INC-CL B COMMON STOCK 1.92%
- ALPHABET INC-CL C COMMON STOCK 1.87%
- BROADCOM INC COMMON STOCK 1.76%
- TESLA INC COMMON STOCK 1.38%
Asset Allocation
Weighting | Return Low | Return High | CRQSX % Rank | |
---|---|---|---|---|
Stocks | 99.68% | 0.00% | 105.85% | 21.28% |
Cash | 0.27% | 0.00% | 99.07% | 75.08% |
Other | 0.25% | -13.91% | 100.00% | 18.69% |
Preferred Stocks | 0.00% | 0.00% | 2.53% | 53.32% |
Convertible Bonds | 0.00% | 0.00% | 5.54% | N/A |
Bonds | 0.00% | 0.00% | 94.06% | 54.53% |
Stock Sector Breakdown
Weighting | Return Low | Return High | CRQSX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 20.91% | N/A |
Technology | 0.00% | 0.00% | 48.94% | N/A |
Real Estate | 0.00% | 0.00% | 31.91% | N/A |
Industrials | 0.00% | 0.00% | 29.90% | N/A |
Healthcare | 0.00% | 0.00% | 60.70% | N/A |
Financial Services | 0.00% | 0.00% | 55.59% | N/A |
Energy | 0.00% | 0.00% | 41.64% | N/A |
Communication Services | 0.00% | 0.00% | 27.94% | N/A |
Consumer Defense | 0.00% | 0.00% | 47.71% | N/A |
Consumer Cyclical | 0.00% | 0.00% | 30.33% | N/A |
Basic Materials | 0.00% | 0.00% | 25.70% | N/A |
Stock Geographic Breakdown
Weighting | Return Low | Return High | CRQSX % Rank | |
---|---|---|---|---|
US | 99.68% | 0.00% | 105.85% | 17.72% |
Non US | 0.00% | 0.00% | 64.54% | 60.84% |
CRQSX - Expenses
Operational Fees
CRQSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.11% | 0.01% | 19.75% | 93.81% |
Management Fee | 0.06% | 0.00% | 1.90% | 7.97% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.00% | 0.85% | N/A |
Sales Fees
CRQSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
CRQSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 0.25% | 2.00% | 28.21% |
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.
CRQSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | N/A | 0.00% | 268.00% | N/A |
CRQSX - Distributions
Dividend Yield Analysis
CRQSX | Category Low | Category High | CRQSX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.16% | 0.00% | 25.47% | 52.96% |
Dividend Distribution Analysis
CRQSX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
CRQSX | Category Low | Category High | CRQSX % Rank | |
---|---|---|---|---|
Net Income Ratio | N/A | -54.00% | 2.44% | N/A |
Capital Gain Distribution Analysis
CRQSX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 27, 2024 | $0.036 | OrdinaryDividend |
Mar 27, 2024 | $0.036 | OrdinaryDividend |
Dec 27, 2023 | $0.040 | OrdinaryDividend |
Sep 28, 2023 | $0.034 | OrdinaryDividend |
Jun 29, 2023 | $0.031 | OrdinaryDividend |
Mar 30, 2023 | $0.035 | OrdinaryDividend |
Dec 28, 2022 | $0.034 | OrdinaryDividend |
Sep 29, 2022 | $0.033 | OrdinaryDividend |
Jun 29, 2022 | $0.032 | OrdinaryDividend |
Mar 30, 2022 | $0.030 | OrdinaryDividend |
Dec 29, 2021 | $0.008 | OrdinaryDividend |
CRQSX - Fund Manager Analysis
Managers
Julie Lind
Start Date
Tenure
Tenure Rank
Dec 03, 2021
0.49
0.5%
Julie joined the RhumbLine team in July 2000 as an Account Analyst. In 2001 she was promoted to Portfolio Manager. She is responsible for managing and trading all of our index products. Prior to joining RhumbLine, Julie was a Senior Account Administrator at Investors Bank & Trust where she worked in the institutional custody group.
Alex Ryer
Start Date
Tenure
Tenure Rank
Dec 03, 2021
0.49
0.5%
Alex Ryer, CFA, FRM, CAIA, is a Vice President at the Northern Trust Company, Chicago. He is a Senior Portfolio Manager and Researcher in the Quantitative Active Team responsible for research and implementation of several quantitative equity strategies. Previously, Alex was part of the Northern Trust Bank FSB in New York as a Portfolio Manager and Trader within the Quantitative Management International Group within Northern Trust Global Investments. Prior to joining Northern Trust in 2005, Alex held Senior Portfolio Management positions at Rhumbline Advisers and State Street Global Advisors. Alex holds a B.S in Electrical Engineering from Bucknell University and an M.B.A from the University of New Hampshire. He is a CFA charterholder and a member of the CFA Institute. He is a Certified Financial Risk Manager, a Chartered Alternative Investment Analyst and holds a Series 3 license.
Andrew Zagarri
Start Date
Tenure
Tenure Rank
Dec 03, 2021
0.49
0.5%
Andrew Zagarri, CFA® Portfolio Manager • Joined RhumbLine in 2021 as Portfolio Manager. • Total of 10 years of industry experience. • Member of the firm’s Investment/Risk Committee. • Responsible for managing and trading RhumbLine’s client portfolios. • Prior experience: Portfolio Manager (Quantitative Fixed Income) at BNY Mellon Wealth Management; Quantitative Equity Research Analyst and Fixed Income Trader and Analyst at Boston Private Wealth; Bond Trader for Bank of New York Mellon. • CFA® charterholder and B.B.A. in Finance from the University of Massachusetts Amherst.
John Geissinger
Start Date
Tenure
Tenure Rank
Dec 03, 2021
0.49
0.5%
John Geissinger, CFA is the Chief Investment Officer at CBIS, a Catholic, socially responsible investment manager with over $10.3 billion in assets under management. CBIS is positioned at the intersection of faith and finance, serving Catholic investors across the globe. Mr. Geissinger is responsible for developing investment policies and programs that achieve the investment objectives of the organization and its investors. He is responsible the development of CBIS’ overall investment philosophy and direction, including ultimate responsibility for the manager-of-managers function. He is a member of the firm's Executive Committee. John brings 30 years of portfolio and risk management experience in prominent financial services firms. He was a partner with Hewitt EnnisKnupp (2012-2014), a provider of investment consulting to corporate and public pension plans, endowments, foundations and defined contribution plans. His prior experience includes chief investment officer roles with North Dakota Retirement and Investment Office (2010-2012), Natsource, LLC (2008-2010) and Bear Stearns Asset Management (1998-2008), as well as research and portfolio management experience with Chancellor/LGT Asset Management, Putnam Investments and Aetna Life and Casualty. John holds a bachelor’s degree from Wake Forest University, MBA from New York University and is a CFA charterholder.
Constance Christian
Start Date
Tenure
Tenure Rank
Dec 03, 2021
0.49
0.5%
Constance Christian, CFA, is a Managing Director of the Adviser. As a senior member of the team, she works directly with internal and external stakeholders and is responsible for manager due diligence and research, portfolio construction and evaluating risk, marketing and product development, and product management. Prior to joining CBIS, Ms. Christian was employed at Wespath Benefits and Investments since 2016 where she held the title Manager, Fixed Income. Ms. Christian started her career in investment management at Brinson Partners as a portfolio manager managing assets for institutional clients (1991-1998). Following her employment at Brinson Partners, she was a portfolio manager at ABN AMRO Asset Management (2001-2006) also managing institutional assets. Ms. Christian then taught high school mathematics at William Howard Taft High School (2007-2016). Ms. Christian holds a BSBA-Finance from the Xavier University, an MBA - Finance from Xavier University and an MA in Mathematics Education from DePaul University. Ms. Christian is a CFA Charterholder.
Jeff Kusmierz
Start Date
Tenure
Tenure Rank
Dec 03, 2021
0.49
0.5%
Jeff has a B.S. in Finance and an M.B.A. from Bentley University. He joined RhumbLine in 2005 in a part-time capacity while attending school. After completion of his M.B.A. in 2007, he joined the investment group as a Portfolio Manager. He is responsible for managing and trading all of our index products.
Hoa Quach
Start Date
Tenure
Tenure Rank
Dec 03, 2021
0.49
0.5%
Hoa Quach, CFA, is a Managing Director of the Adviser. Ms. Quach, CFA, is a Managing Director with the Catholic Responsible InvestmentsSM team. As a senior member of the team, she works directly with internal and external stakeholders and is responsible for manager due diligence and research, portfolio construction and evaluating risk, marketing and product development, and product management. Hoa brings over 25 years of experience in prominent consulting and asset management firms. Ms. Quach’s prior experience includes principal, manager research consultant at Mercer, manager of quantitative research, investment office for the University of Chicago, senior portfolio analyst/portfolio manager at Duff & Phelps Investment Management and a consultant at Ibboston Associates. Ms. Quach holds a BBA in Finance and Business Economics (Cum Laude) from the University of Notre Dame, and a MBA in Finance and Economics from the University of Chicago, Booth School of Business. She is a CFA charterholder and a member of the CFA Institute and the CFA Society of Chicago.
Antonio Ballestas
Start Date
Tenure
Tenure Rank
Dec 03, 2021
0.49
0.5%
Antonio J. Ballestas, Portfolio Manager, joined RhumbLine in 2012 and was promoted to Portfolio Manager in 2019. He has 13 years of industry experience. Tony is a member of the firm’s Investment/Risk Committee and is responsible for managing and trading RhumbLine’s client portfolios. Previously Tony was Assistant Portfolio Manager and Portfolio Analyst in Investment Operations at RhumbLine. His prior experience includes Client Service Specialist and Hedge Fund Accountant at J.P. Morgan. Mr. Ballestas is a CFA Exam Level II Candidate and has a B.S. in Business Administration from Bryant University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 39.02 | 7.24 | 2.42 |