Objective
Replicate the performance of the S&P SmallCap 600® Index
Strategy
Closely track the benchmark, while seeking replacements for screened stocks with similar market capitalizations in the same or a related industry
| Fund Facts | |
|---|---|
| Asset Manager |
|
| Benchmark | S&P SmallCap 600® |
| Blended Benchmark | – |
| Fund Inception Date | 2/1/1995 |
| Mimimum Investment | $3M |
| Expense Ratio | Class A: 0.62%; Class B: 0.31% |
Additional Facts
Fee waivers and reimbursements are contractual and in effect until 02/28/24.
Annual Average Total Returns
(%) as of
| Trailing | 3 Months | 1 Year | 3 Years | 5 Years | 10 Years |
|---|---|---|---|---|---|
| CRSSX (Inception Date: 2/1/1995) | 2.40 | -9.21 | 6.07 | 8.74 | |
| S&P SmallCap 600® | 2.57 | -8.82 | 6.30 | 8.98 | |
| S&P 500 Index | 11.03 | 28.71 | 26.07 | 18.47 | 16.55 |
| Calendar Year | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|
| CUIT Small Capitalization Equity Index Fund Class A | 22.24 | -8.90 | 14.43 | 20.60 | -4.75 | 4.46 |
| CUIT Small Capitalization Equity Index Fund Class B | 22.58 | -8.63 | 14.81 | 20.97 | -4.53 | 4.81 |
| S&P SmallCap 600 Index § | 22.78 | -8.48 | 15.22 | 21.31 | -4.41 | 4.90 |
- Returns are presented net of fees and include the reinvestment of income and past performance is not indicative of future results. Net of fees includes management fees, operating expenses, and fee reductions and/or expense reimbursements. See the fund prospectus for additional information.
- Since inception performance for each benchmark index is calculated based on the inception date of each corresponding Fund share class and reflects no deduction for fees, expenses or taxes.
- Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth less than their original cost and current performance may be higher or lower that the performance quoted. For performance current to the most recent month end, please call 1-866-348-6466.
- Indices are unmanaged and do not include the effect of fees. One cannot invest in an index.
- Performance data shown prior to 12/03/2021 is that of the funds of the Catholic United Investment Trust (the “Predecessor Funds”). The Predecessor Funds were managed by the Adviser using investment objectives, strategies, policies and restrictions that were in all material respects equivalent. The performance information has been adjusted to reflect Fund expenses which may result in higher or lower performance.
Characteristics as of 03/31/2023
| Statistics | Fund | Index |
|---|---|---|
| Weighted Median Market Cap | $2.4B | $2.4B |
| Price/Book | 2.0x | 2.0x |
| Price/Earnings | 15.7x | 15.6x |
| Return on Equity | 3.9% | 3.9% |
| Dividend Yield | 1.2% | 1.2% |
| 5-year Earnings Growth | 9.7% | 9.6% |
| Beta | 1 | N/A |
| Active Share | 3.1 | N/A |
| 10 Largest Holdings | 6.1% | 5.4% |
| # of Equity Securities | 589 | 601 |
| Turnover Rate | 31.2 | N/A |
| Market Sector Analysis | Fund | Index |
|---|---|---|
| Communication Services | 1.7 | 1.7 |
| Consumer Discretionary | 13.3 | 13.5 |
| Consumer Staples | 4.2 | 4.3 |
| Energy | 4.9 | 5.0 |
| Financials | 18.4 | 18.6 |
| Healthcare | 11.9 | 12.2 |
| Industrials | 16.4 | 16.7 |
| Information Technology | 13.0 | 13.2 |
| Materials | 5.1 | 5.1 |
| Real Estate | 8.0 | 8.0 |
| Utilities | 1.7 | 1.7 |
| Cash | 1.4 | 0.0 |
| Risk Metrics | Fund (5 YR) |
Index (5 YR) |
|---|---|---|
| Standard Deviation | 21.1 | 21.2 |
| Tracking Error | 0.3 | N/A |
| Sharpe Ratio | 0.6 | 0.6 |
| Information Ratio | 0.6 | N/A |
| Upside Capture | 100.2 | 100.0 |
| Downside Capture | 99.6 | 100.0 |
| Top Ten Holdings | % | |
|---|---|---|
| E-Mini Russell 2000 (CME) Dec 21 | 0.7 | |
| Macy's Inc | 0.7 | |
| Chart Industries, Inc. | 0.7 | |
| Omnicell, Inc. | 0.6 | |
| NeoGenomics, Inc. | 0.6 | |
| Stamps.com Inc. | 0.6 | |
| Power Integrations, Inc. | 0.6 | |
| Exponent, Inc. | 0.6 | |
| Range Resources Corporation | 0.6 | |
| SPS Commerce, Inc. | 0.6 |
Source: FactSet, eVestment
The securities identified and described do not represent all of the securities purchased, sold or recommended for investor accounts. The reader should not assume that an investment in the securities identified was or will be profitable. For a complete list of securities offered during the period, please contact CBIS.
-
Q3 2021 Performance Review
12-Month Review
- As a group, the restricted securities underperform ed the benchmark.
- Health Care, Industrials, Consumer Discretionary, Materials, and Consumer Staples added to relative performance.
3-Month Review
- The Fund outperformed the benchmark for the period.
- The Healthcare sector added, mainly from restrictions in healthcare providers and pharmaceuticals.
- Industrials contributed, mainly from restricting two names.
- Consumer Discretionary supported results during the quarter, mainly from restricting two names, which were amongst the weaker performers.
- Consumer Staples added, primarily from restricting tobacco stocks.
- Information Technology cost the fund, due to an underweight to semiconductors equipment and software.
- Energy and materials were additive.
Current Positioning
- Characteristics of the Fund were similarly positioned to the benchmark.
- CRI restrictions are most prominent in Healthcare (e.g., pharmaceutical companies), Consumer Staples (tobacco stocks), and Industrials (aerospace and defense). Differences in performance will most likely emanate from one or more of these economic sectors.
All attribution is based on gross portfolio performance.