Objective

Long-term capital appreciation

Strategy

Track the S&P 500 and counter the impact of screens by overweighting select holdings so that the Fund’s broad quantitative characteristics match those of the S&P 500 as closely as possible.

Fund Facts
Asset Manager
  • RhumbLine Advisers(Since 1/1/95)
Benchmark S&P 500 Index
Fund Inception Date Class A: January 1, 1995; Class B: March 1, 2000
Mimimum Investment Class A: No minimum; Class B: $3 million
Expense Ratio Class A: 0.39%; Class B: 0.10%

Additional Facts

The S&P 500 Index is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by CBIS. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by CBIS. The CUIT Core Equity Index Fund is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

Annual Average Total Returns
(%) as of 06/30/2020

Trailing 3 Months 1 Year 3 Years 5 Years 10 Years
CUIT Core Equity Index Fund Class A 21.48 7.74 11.17 10.75 13.78
CUIT Core Equity Index Fund Class B 21.55 7.96 11.39 10.98 14.01
S&P 500 Index 20.54 7.51 10.73 10.73 13.99
Calendar Year 2019 2018 2017 2016 2015 2014
CUIT Core Equity Index Fund Class A 32.05 -4.62 22.64 11.27 0.29 13.99
CUIT Core Equity Index Fund Class B 32.33 -4.42 22.87 11.51 0.50 14.19
Standard & Poor's 500 Index ++ 31.49 -4.38 21.83 11.96 1.38 13.69

 

Source: BNY Mellon, SS&C

++ “S&P 500” is a registered trademark of McGraw-Hill Companies, Inc. (“McGraw-Hill”). The CUIT Core Equity Index Fund is not sponsored, endorsed, sold or promoted by Standard & Poor’s and Standard & Poor’s makes no representation regarding the advisability of investing in the Fund.

Characteristics as of 06/30/2020

Statistics Fund Index
Weighted Median Market Cap $114.7B $137.2B
Price/Book 3.3x 3.3x
Price/Earnings 23.4x 23.1x
Return on Equity 26.2% 25.5%
Dividend Yield 1.7% 1.9%
5-year Earnings Growth 19.5% 18.3%
Beta 1.0 0.0
10 Largest Holdings 28.0% 26.1%
# of Equity Securities 466 505
Turnover Rate 23.3 N/A
Market Sector Analysis Fund Index
Communication Services 11.3 10.8
Consumer Discretionary 10.9 10.8
Consumer Staples 6.8 7.0
Energy 2.8 2.8
Financials 10.4 10.1
Health Care 12.9 14.6
Industrials 7.3 8.0
Information Technology 28.1 27.5
Materials 3.0 2.5
Real Estate 3.0 2.8
Utilities 3.1 3.1
Cash 0.5 0.0
Risk Metrics Fund
(5 YR)
Index
(5 YR)
Standard Deviation 14.9 14.6
Tracking Error 0.7 N/A
Sharpe Ratio 0.7 0.7
Information Ratio 0.7 N/A
Upside Capture 102.9 100.0
Downside Capture 101.4 100.0
Top Ten Holdings %
Microsoft Corporation 6.5
Apple Inc. 5.9
Amazon.com, Inc. 4.6
Facebook, Inc. Class A 2.2
Alphabet Inc. Class C 1.8
Alphabet Inc. Class A 1.7
Berkshire Hathaway Inc. Class B 1.5
JPMorgan Chase & Co. 1.3
Visa Inc. Class A 1.3
Abbott Laboratories 1.2

 

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.

  • Q2 2020 Performance Review

    12-Month Review

    • Outperformance was due primarily to exposure to the Industrial sector. Restricted stocks delivered weaker relative performance for the trailing twelve months.
    • Information Technology benefitted the Fund, which was driven by reweighting to stronger performing securities, and to a lesser extent, restricting a name.
    • Conversely, Health Care cost the Fund.
    • Financials cost the Fund, mainly from reweighting an issue.
    • In other areas, weaker performance from the Real Estate sector negatively impacted results along with poor performance from Materials.
    • Energy added to returns as the Fund was modestly underweight to Energy Equipment & Services. In addition, the
      Fund’s modest underweight to Oil Gas and Consumable Fuels, a weaker performing industry, supported Fund results.

    3-Month Review

    • Outperformance was concentrated in the Health Care sector, specifically an underweight to Pharmaceuticals contributed significantly to results.
    • The Industrials sector added largely from restrictions in underperforming Aerospace & Defense and Industrial Conglomerates.
    • Consumer Staples added primarily from restrictions in Tobacco and Household products.
    • Materials sector added this quarter from an overweight to Chemicals. Metals and Mining was additive.
    • Information Technology sector added this quarter.
    • The Financials sector cost the Fund.

    Current Positioning

    • The Fund is positioned very similarly to the S&P 500 index.
    • Catholic Responsible InvestmentsSM restrictions are most prominent in Healthcare (e.g., large pharmaceutical companies), Consumer Staples (tobacco stocks), and Industrials (aerospace and defense). When there are significant differences in performance between the Fund and the S&P 500 index, the differences will most likely emanate from one or more of these economic sectors.
    • Currently, the Fund is underweight in Health Care.

 

All attribution is based on gross portfolio performance.

  • Fund Fact Sheet

    PDF
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