Continue to site >
Trending ETFs

Name

As of 04/18/2024

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

$6.16

$733 M

0.00%

$0.00

2.37%

Vitals

YTD Return

0.7%

1 yr return

6.8%

3 Yr Avg Return

-6.0%

5 Yr Avg Return

8.0%

Net Assets

$733 M

Holdings in Top 10

12.9%

52 WEEK LOW AND HIGH

$6.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.37%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 98.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$250


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 04/18/2024

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

$6.16

$733 M

0.00%

$0.00

2.37%

OCSGX - Profile

Distributions

  • YTD Total Return 0.7%
  • 3 Yr Annualized Total Return -6.0%
  • 5 Yr Annualized Total Return 8.0%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio -1.94%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    OPTIMUM SMALL-MID CAP GROWTH FUND
  • Fund Family Name
    Delaware Funds by Macquarie
  • Inception Date
    Jul 23, 2003
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    William Grierson

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of small- and mid-market capitalization companies (80% policy). This policy may be changed only upon 60 days’ prior notice to shareholders. For purposes of this Fund, small-market capitalization companies are those companies whose market capitalization is similar to the market capitalization of companies in the Russell 2000® Growth Index, and mid-market capitalization companies are those companies whose market capitalization is similar to the market capitalization of companies in the Russell Midcap® Growth Index. As of June 30, 2023, the Russell 2000® Growth Index had a market capitalization range between $1.85 million and $13.15 billion, and the Russell Midcap® Growth Index had a market capitalization range between $521.37 million and $50.57 billion. The market capitalization ranges for these Indices will change on a periodic basis. A company’s market capitalization is based on its current market capitalization or its market capitalization at the time of the Fund’s investment. Companies whose market capitalization no longer meets the respective definition above after purchase continue to be considered either small- or mid-market-capitalization companies, as applicable, for purposes of this 80% policy. Frank Russell Company is the source and owner of the trademarks, service marks, and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company.

The Fund intends to invest primarily in common stocks of US companies, but it may also invest in other securities that a sub-advisor believes provide opportunities for capital growth, such as preferred stocks, warrants, and securities convertible into common stocks. In keeping with the Fund’s investment objective, the Fund may also invest in foreign securities, including American depositary receipts (ADRs) and other depositary receipts and shares; derivatives, including futures and options; and fixed income securities, including those rated below investment grade.

The Fund’s manager, Delaware Management Company (Manager), has selected Principal Global Investors, LLC (“Principal”) and Peregrine Capital Management, LLC (Peregrine) to serve as the Fund’s sub-advisors. Each sub-advisor is responsible for the day-to-day investment management of the portion of the Fund’s assets that the Manager allocates to the sub-advisor. The Manager may change the allocation at any time. The relative values of each sub-advisor’s share of the Fund’s assets also may change over time. Each sub-advisor selects investments for its portion of the Fund based on the sub-advisor’s own investment style and strategy.

In managing its portion of the Fund’s assets, PDG's primary objective is to outperform the Russell 2500 Growth Index over a full market cycle. No assurances can be given that this objective will be achieved. Principal's Dynamic Growth team targets small- to mid-sized businesses using its “Fundamental Momentum & Positive Surprise” investment philosophy.  The investment philosophy is based on the premise that companies producing better than expected results will have rising securities prices, while companies producing less than expected results will not. Through thorough analysis of company fundamentals in the context of the prevailing economic environment, Principal’s team of investment professionals selects companies that it believes meet its criteria of Fundamental Momentum & Positive Surprise. Companies whose stocks are experiencing positive or improving Fundamental Momentum & Positive Surprise are considered attractive for purchase, and companies falling short or in line with expectations are avoided or sold.

In managing its portion of the Fund’s assets, Peregrine’s investment process is designed to profit from identifying “Information Gaps,” when a stock’s underlying fundamentals are not reflected in the price of the stock. These Information Gaps exist frequently in small, rapidly growing companies, creating the potential for dramatic stock price appreciation. Accordingly, Peregrine focuses its research on companies experiencing high growth and significant fundamental change. Fundamental research is the most important aspect of Peregrine’s investment process. A key driver of the research process is one-on-one meetings with management teams. During these discussions, Peregrine assesses four key variables:  the size of the growth opportunity; the company’s ability to manufacture, market, and sell its product or service; income statement and balance sheet quality and trends; and the credibility and

capability of the management team. The process does not seek to identify companies that score top marks in all of these categories, rather the Peregrine investment team is focused on gaining a differentiated view of the company’s future earnings potential or underlying acquisition value versus the consensus view of investors — an Information Gap. Peregrine believes that the resulting portfolio is well-diversified and is structured to derive the majority of it returns through stock selection.

In response to market, economic, political, or other conditions, a sub-advisor may temporarily use a different investment strategy for defensive purposes. If a sub-advisor does so, different factors could affect the Fund’s performance and the Fund may not achieve its investment objective. The Fund’s investment objective is nonfundamental and may be changed without shareholder approval. However, the Fund’s Board of Trustees (Board) must approve any changes to nonfundamental investment objectives, and the Fund’s shareholders would be given at least 60 days’ notice prior to any such change.

Read More

OCSGX - Performance

Return Ranking - Trailing

Period OCSGX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -11.0% 12.2% 30.93%
1 Yr 6.8% -7.4% 45.9% 63.56%
3 Yr -6.0%* -25.3% 56.7% 60.00%
5 Yr 8.0%* -4.7% 43.7% 25.72%
10 Yr 7.9%* 0.9% 24.0% 47.98%

* Annualized

Return Ranking - Calendar

Period OCSGX Return Category Return Low Category Return High Rank in Category (%)
2023 12.7% -20.5% 54.6% 64.44%
2022 -39.3% -82.1% 32.2% 87.14%
2021 -30.3% -90.6% 300.1% 96.04%
2020 25.3% -63.0% 127.9% 63.25%
2019 9.9% -7.7% 42.9% 91.92%

Total Return Ranking - Trailing

Period OCSGX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -11.0% 12.2% 30.93%
1 Yr 6.8% -7.4% 45.9% 63.56%
3 Yr -6.0%* -25.3% 56.7% 60.00%
5 Yr 8.0%* -4.7% 43.7% 25.72%
10 Yr 7.9%* 0.9% 24.0% 47.98%

* Annualized

Total Return Ranking - Calendar

Period OCSGX Return Category Return Low Category Return High Rank in Category (%)
2023 12.7% -19.0% 136.8% 75.53%
2022 -28.7% -59.9% 44.3% 55.71%
2021 11.5% -22.7% 411.9% 44.14%
2020 55.6% 1.5% 150.8% 19.96%
2019 24.5% 5.5% 55.3% 78.65%

NAV & Total Return History


OCSGX - Holdings

Concentration Analysis

OCSGX Category Low Category High OCSGX % Rank
Net Assets 733 M 207 K 34.3 B 42.26%
Number of Holdings 192 7 1180 16.35%
Net Assets in Top 10 89.2 M 57.4 K 2.83 B 59.13%
Weighting of Top 10 12.90% 7.1% 100.1% 92.86%

Top 10 Holdings

  1. GXO Logistics Inc 1.58%
  2. Rambus Inc 1.48%
  3. Howmet Aerospace Inc 1.44%
  4. MACOM Technology Solutions Holdings Inc 1.26%
  5. Kratos Defense Security Solutions Inc 1.25%
  6. PennyMac Financial Services Inc 1.22%
  7. Freshworks Inc 1.19%
  8. Natera Inc 1.18%
  9. W R Berkley Corp 1.16%
  10. elf Beauty Inc 1.13%

Asset Allocation

Weighting Return Low Return High OCSGX % Rank
Stocks
98.93% 77.88% 108.99% 30.26%
Cash
1.75% 0.00% 26.25% 50.78%
Preferred Stocks
0.02% 0.00% 3.53% 13.04%
Other
0.00% -0.22% 5.89% 87.48%
Convertible Bonds
0.00% 0.00% 1.57% 88.87%
Bonds
0.00% 0.00% 3.22% 89.04%

Stock Sector Breakdown

Weighting Return Low Return High OCSGX % Rank
Technology
27.70% 2.91% 75.51% 30.26%
Healthcare
25.31% 0.00% 47.90% 30.61%
Industrials
14.50% 0.00% 36.64% 71.48%
Consumer Cyclical
11.41% 0.00% 24.04% 61.57%
Consumer Defense
6.35% 0.00% 13.56% 14.43%
Financial Services
5.98% 0.00% 42.95% 59.30%
Basic Materials
4.49% 0.00% 9.24% 16.52%
Energy
2.42% 0.00% 55.49% 53.22%
Communication Services
1.48% 0.00% 15.31% 62.26%
Real Estate
0.36% 0.00% 15.31% 72.35%
Utilities
0.00% 0.00% 5.57% 91.65%

Stock Geographic Breakdown

Weighting Return Low Return High OCSGX % Rank
US
98.93% 30.27% 102.09% 27.48%
Non US
0.00% 0.00% 61.74% 90.61%

OCSGX - Expenses

Operational Fees

OCSGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.37% 0.05% 23.20% 3.66%
Management Fee 1.03% 0.05% 1.62% 93.90%
12b-1 Fee 1.00% 0.00% 1.00% 98.73%
Administrative Fee 0.05% 0.01% 0.40% 32.67%

Sales Fees

OCSGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load 1.00% 1.00% 5.00% 91.94%

Trading Fees

OCSGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

OCSGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 98.00% 3.00% 439.00% 74.25%

OCSGX - Distributions

Dividend Yield Analysis

OCSGX Category Low Category High OCSGX % Rank
Dividend Yield 0.00% 0.00% 7.14% 91.13%

Dividend Distribution Analysis

OCSGX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual SemiAnnual Annual

Net Income Ratio Analysis

OCSGX Category Low Category High OCSGX % Rank
Net Income Ratio -1.94% -2.47% 1.10% 98.94%

Capital Gain Distribution Analysis

OCSGX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Semi-Annually Annually

Distributions History

View More +

OCSGX - Fund Manager Analysis

Managers

William Grierson


Start Date

Tenure

Tenure Rank

Apr 11, 2016

6.14

6.1%

Bill is a Portfolio Manager for the Small Cap Growth style and shares the responsibility for fundamental research, stock selection and portfolio management with his team. Bill joined Peregrine’s Small Cap Growth team in 2000 as a Securities Analyst. He is a member of Peregrine's Board of Directors. Prior to Peregrine, he was a Senior Research Analyst & Portfolio Manager with Kopp Investment Advisors for more than six years. Previously, he worked as a Reporting Analyst for Northern Trust. He graduated from Lawrence University in 1992. Bill is a member of the CFA Society of Minnesota and the CFA Institute.

Paul von Kuster


Start Date

Tenure

Tenure Rank

Apr 11, 2016

6.14

6.1%

Paul is a Portfolio Manager for the Small Cap Growth style and shares the responsibility for fundamental research, stock selection and portfolio management with his team. Paul has been with the firm since its inception in 1984. He is a member of Peregrine's Board of Directors. Prior to Peregrine, Paul managed small cap funds for the Trust Department at Norwest Bank Minnesota, N.A. (now Wells Fargo Bank Minnesota, N.A.). He began his career with Norwest Bank Minnesota, N.A. in 1972 after graduating from Princeton. Paul is a member of the CFA Society of Minnesota and the CFA Institute.

Daniel Hagen


Start Date

Tenure

Tenure Rank

Apr 11, 2016

6.14

6.1%

Dan is a Portfolio Manager for the Small Cap Growth style and shares the responsibility for fundamental research, stock selection and portfolio management with his team. Dan joined Peregrine’s Small Cap Growth team in 1996 as a Research Analyst. He is a member of Peregrine's Board of Directors. Prior to Peregrine, Dan was a Managing Director and Assistant Manager for the Equity Strategy Group at Piper Jaffray. He joined Piper Jaffray as a Statistical Analyst in 1983, upon graduating from the University of Minnesota. Dan is a member of the CFA Society of Minnesota and the CFA Institute and a past board member of the Piper Jaffray Foundation. He regularly shares his financial expertise with a number of nonprofit organizations.

Christopher Corbett


Start Date

Tenure

Tenure Rank

Jul 28, 2017

4.84

4.8%

Mr. Corbett joined Columbus Circle Investors in May, 2006. Prior to becoming Managing Director and Portfolio Manager, Mr. Corbett held the position of Senior Vice President/Co-Portfolio Manager. Prior to becoming Senior Vice President/Co-Portfolio Manager, he held the position of Senior Securities Analyst. Prior to this, he was an Associate Analyst for Banc of America. Mr. Corbett also worked as an Associate Analyst with UBS and as an Investment Analyst for Driehaus Capital Management. Mr. Corbett received his M.B.A. in Finance and Management and B.B.A. in Accounting from the University of Notre Dame. Mr. Corbett has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Society New York (formerly known as the New York Society of Security Analysts).

Marc Shapiro


Start Date

Tenure

Tenure Rank

Jul 29, 2020

1.84

1.8%

Marc R. Shapiro has been with CCI since 2004. He earned a B.A. in Finance and Marketing from Emory University.

Samuel Smith


Start Date

Tenure

Tenure Rank

Jan 25, 2021

1.35

1.4%

Sam is an Associate Portfolio Manager for the Small Cap Growth style and shares the responsibility for fundamental research, stock selection and portfolio management with his team. Upon graduation from the University of St. Thomas, Sam joined Peregrine in 2006 as a Portfolio Assistant. Sam is a member of the CFA Institute and a former board member of the CFA Society Minnesota, where he chaired the Advocacy and Public Awareness Committee.

Ryan Smith


Start Date

Tenure

Tenure Rank

Jan 25, 2021

1.35

1.4%

Ryan is a Associate Portfolio Manager for the Small Cap Growth style and shares the responsibility for fundamental research, stock selection and portfolio management with his team. Ryan joined Peregrine’s Small Cap Growth team in 2018. Prior to joining Peregrine, Ryan was a portfolio manager and an analyst on the small, SMID and mid cap growth strategies at RBC Global Asset Management (U.S.) for more than 10 years. Previously, he was an Equity Research Associate at William Blair & Company. He began his career at Ernst & Young. Ryan received his B.S. from Lehigh University and M.S. in Accountancy from the University of Notre Dame. He is a member of the CFA Society of Chicago, the CFA Institute and is a Certified Public Accountant (inactive).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.44 9.01 5.25