Name
As of 12/28/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
12.2%
1 yr return
11.3%
3 Yr Avg Return
5.3%
5 Yr Avg Return
4.4%
Net Assets
$35.7 M
Holdings in Top 10
23.7%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.46%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 135.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/28/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
SCLVX - Profile
Distributions
- YTD Total Return 12.2%
- 3 Yr Annualized Total Return 5.3%
- 5 Yr Annualized Total Return 4.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.23%
- Dividend Yield 0.6%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameSGI U.S. Small Cap Equity Fund
-
Fund Family NameSummit Global Investments
-
Inception DateMar 31, 2016
-
Shares Outstanding2642261
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDavid Harden
Fund Description
Under normal circumstances, the Fund will invest at least 80% of its net assets (including borrowings for investment purposes) in equity securities, primarily common stocks of U.S. issuers with small market capitalizations. A small market capitalization issuer generally is considered to be one whose market capitalization is, at the time the Fund makes the investment, similar to the market capitalization of companies in the Russell 2000® Index. The Russell 2000® Index is a small cap stock market index measuring the performance of approximately 2,000 small cap U.S. companies. As of August 31, 2022, the minimum market capitalization of the Russell 2000® Index was $355.1 million and the largest stock was $10.7 billion. The Fund’s investments will generally consist of securities, which may include common stocks, preferred stocks, warrants to acquire common stock, and securities convertible into common stock. The Fund purchases equity securities traded in the U.S. on registered exchanges or the over-the-counter market. The Fund may also invest in other registered investment companies, including exchange-traded funds (“ETFs”), and may invest in real estate investment trusts (“REITs”).
The Adviser attempts to lower the Fund’s market risk by investing in U.S. equity securities that lower the overall volatility of the Fund’s portfolio as compared to the Russell 2000® Index. Volatility is a statistical measurement of the magnitude of up and down fluctuations in the value of a financial instrument or index. The Fund invests in stocks that often exhibit less volatile stock price patterns, strengthening business metrics (i.e., earnings, debt, return on assets, competition, customers, industry, etc.) and quantitative factors such as earnings variability, leverage, volatility, price/book, price/cash flow, etc. In addition, the Adviser reviews the idiosyncratic risks associated with each stock if these risks are deemed elevated with increased downside risks, due to environmental, social and/or governance (“ESG”) issues. The Adviser selects securities for the Fund that it anticipates will produce a portfolio with less volatility with more capital protection and consistent returns. While the Adviser attempts to manage the Fund’s volatility, there is no guarantee that the strategy will be successful or that the Fund’s portfolio will not experience periods of volatility.
The Fund may sell a stock if the Adviser identifies fundamental, ESG, or legal risks and/or if the risk/return ranking declines due to increasing risk and/or decreasing return potential. The Fund may also decrease weight in an investment for risk control purposes.
SCLVX - Performance
Return Ranking - Trailing
Period | SCLVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 12.2% | -14.6% | 33.7% | 85.56% |
1 Yr | 11.3% | -14.7% | 36.8% | 88.03% |
3 Yr | 5.3%* | -3.8% | 46.8% | 61.69% |
5 Yr | 4.4%* | -8.9% | 35.0% | 98.26% |
10 Yr | N/A* | -2.5% | 16.9% | N/A |
* Annualized
Return Ranking - Calendar
Period | SCLVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -12.2% | -59.3% | 118.2% | 5.84% |
2022 | 17.5% | -31.6% | 39.3% | 19.42% |
2021 | -11.8% | -51.0% | 39.5% | 97.59% |
2020 | 19.4% | -5.6% | 37.8% | 57.72% |
2019 | -14.4% | -67.3% | -0.5% | 17.37% |
Total Return Ranking - Trailing
Period | SCLVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 12.2% | -14.6% | 33.7% | 85.56% |
1 Yr | 11.3% | -14.7% | 36.8% | 88.03% |
3 Yr | 5.3%* | -3.8% | 46.8% | 61.69% |
5 Yr | 4.4%* | -8.9% | 35.0% | 98.26% |
10 Yr | N/A* | -2.5% | 16.9% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | SCLVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -12.0% | -45.2% | 123.7% | 13.63% |
2022 | 17.5% | 0.0% | 47.7% | 80.58% |
2021 | -11.6% | -50.5% | 46.9% | 98.89% |
2020 | 20.7% | 2.1% | 43.7% | 87.26% |
2019 | -9.9% | -28.2% | 6.0% | 26.75% |
NAV & Total Return History
SCLVX - Holdings
Concentration Analysis
SCLVX | Category Low | Category High | SCLVX % Rank | |
---|---|---|---|---|
Net Assets | 35.7 M | 480 K | 118 B | 92.41% |
Number of Holdings | 100 | 2 | 2519 | 63.62% |
Net Assets in Top 10 | 8.88 M | 109 K | 8.74 B | 89.83% |
Weighting of Top 10 | 23.73% | 3.3% | 101.4% | 30.62% |
Top 10 Holdings
- ExlService Holdings Inc 3.40%
- Sterling Infrastructure Inc 2.74%
- BJ's Wholesale Club Holdings Inc 2.38%
- RenaissanceRe Holdings Ltd 2.35%
- Balchem Corp 2.26%
- UFP Technologies Inc 2.17%
- Commercial Metals Co 2.14%
- Amphastar Pharmaceuticals Inc 2.12%
- Copa Holdings SA 2.11%
- Ingles Markets Inc 2.06%
Asset Allocation
Weighting | Return Low | Return High | SCLVX % Rank | |
---|---|---|---|---|
Stocks | 99.02% | 0.00% | 107.11% | 32.41% |
Cash | 1.39% | 0.00% | 32.53% | 62.41% |
Preferred Stocks | 0.00% | 0.00% | 7.26% | 84.14% |
Other | 0.00% | -0.49% | 32.98% | 76.03% |
Convertible Bonds | 0.00% | 0.00% | 3.17% | 83.25% |
Bonds | 0.00% | -2.08% | 85.48% | 84.14% |
Stock Sector Breakdown
Weighting | Return Low | Return High | SCLVX % Rank | |
---|---|---|---|---|
Financial Services | 17.32% | 0.00% | 35.52% | 26.00% |
Healthcare | 17.29% | 0.00% | 26.53% | 8.90% |
Industrials | 17.12% | 2.46% | 37.42% | 50.26% |
Consumer Defense | 12.85% | 0.00% | 18.87% | 1.75% |
Consumer Cyclical | 10.28% | 0.99% | 47.79% | 62.30% |
Technology | 6.71% | 0.00% | 54.70% | 97.21% |
Utilities | 6.57% | 0.00% | 18.58% | 3.14% |
Real Estate | 6.12% | 0.00% | 29.43% | 64.22% |
Basic Materials | 3.04% | 0.00% | 18.66% | 88.66% |
Energy | 1.43% | 0.00% | 37.72% | 87.43% |
Communication Services | 1.27% | 0.00% | 14.85% | 80.45% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | SCLVX % Rank | |
---|---|---|---|---|
US | 99.02% | 0.00% | 107.11% | 27.24% |
Non US | 0.00% | 0.00% | 91.52% | 85.86% |
SCLVX - Expenses
Operational Fees
SCLVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.46% | 0.01% | 28.11% | 22.70% |
Management Fee | 0.95% | 0.00% | 1.50% | 91.70% |
12b-1 Fee | N/A | 0.00% | 1.00% | 17.75% |
Administrative Fee | N/A | 0.01% | 0.45% | 37.05% |
Sales Fees
SCLVX 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
SCLVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 70.54% |
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.
SCLVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 135.00% | 1.00% | 314.00% | 93.12% |
SCLVX - Distributions
Dividend Yield Analysis
SCLVX | Category Low | Category High | SCLVX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.56% | 0.00% | 3.98% | 85.69% |
Dividend Distribution Analysis
SCLVX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annual | Quarterly | Annual |
Net Income Ratio Analysis
SCLVX | Category Low | Category High | SCLVX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.23% | -2.40% | 2.49% | 75.96% |
Capital Gain Distribution Analysis
SCLVX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 17, 2020 | $0.025 | OrdinaryDividend |
Dec 18, 2019 | $0.135 | OrdinaryDividend |
Dec 11, 2018 | $0.045 | OrdinaryDividend |
Dec 20, 2017 | $0.049 | OrdinaryDividend |
SCLVX - Fund Manager Analysis
Managers
David Harden
Start Date
Tenure
Tenure Rank
Mar 31, 2016
6.17
6.2%
Dave earned a BA from Boston College and an MSCS from Boston University. Over the past 21+ years in investments, Dave has proven his ability as a portfolio manager and equity strategist. Prior to establishing Summit Global Investments, Dave worked with Fidelity Investments, Evergreen Investments, and Ensign Peak Advisors, where he was responsible for developing and implementing numerous portfolio strategies. For the past eight years, Dave has focused on managing institutional assets in the low volatility equity space and continues to do so with Summit Global Investments. As Chief Investment Officer, Dave oversees the investment processes and leads the overall investment decisions, including portfolio design, construction, implementation and management. In addition, Dave is directly responsible for SGI's innovative low volatility, managed risk approach to investing. As a leader in the low volatility field, he has developed unique quantitative technologies., tactics and models designed specifically for managing risk while maximizing returns. Dave is one of only a handful of active portfolio managers in the world that has researched, constructed, implemented and actively managed significant assets in the low volatility equity space. With the ever-increasing attention givento low volatility investing, Dave's techniques and strategies continue to provide new insight to professional asset management. Throughout Dave's career, he has established himself as an expert in investment technology and quantitative research. In his spare time, Dave enjoys spending time with his family and supporting the local wrestling community.
Richard Thawley
Start Date
Tenure
Tenure Rank
Mar 31, 2016
6.17
6.2%
Richard joined SGI in 2013 as an Investment Analyst. He earned a BS in business management from Brigham Young University. From 2009 to 2010, upon graduation, he worked as a marketing analyst for Aegon N.V., a multinational life insurance, pension and asset management firm. From 2010 to 2011, he worked as an analyst at Provident Generation. From 2012 to 2013, he worked at BYU Broadcasting as a research analyst. Richard assists in the daily management and analysis of individual equities of SGI's low volatility strategies. Richard is an automotive and motorsports enthusiast, and he enjoys contemporary music, movies, and volunteering at the Sundance Film Festival.
Aash Shah
Start Date
Tenure
Tenure Rank
Aug 01, 2018
3.83
3.8%
Aash M. Shah, Portfolio Manager, who has been responsible for Invesco V.I. Capital Appreciation Fund since 2020 and has been associated with Invesco and/or its affiliates since 2019. From 2006 to 2019, Mr. Shah was associated with OppenheimerFunds, a global asset management firm. He earned an MBA in Finance & Accounting from Carnegie Mellon University and BS Engineering from the University of Pittsburgh. He is also a CFA charter holder.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 49.61 | 7.02 | 2.58 |