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: 0.19%

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 09/30/2019

Trailing 3 Months 1 Year 3 Years 5 Years 10 Years
CUIT Core Equity Index Fund Class A 1.57 4.90 13.68 10.81 12.96
CUIT Core Equity Index Fund Class B 1.61 5.10 13.91 11.03 13.18
S&P 500 Index 1.70 4.25 13.39 10.84 13.24
Calendar Year 2018 2017 2016 2015 2014 2013
CUIT Core Equity Index Fund Class A -4.62 22.64 11.27 0.29 13.99 32.03
CUIT Core Equity Index Fund Class B -4.42 22.87 11.51 0.50 14.19 32.31
Standard & Poor's 500 Index ++ -4.38 21.83 11.96 1.38 13.69 32.39

++ “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 06/30/2019

Statistics Fund Index
Weighted Median Market Cap $90.4B $113.2B
Price/Book 3.1x 3.2x
Price/Earnings 21.0x 20.5x
Return on Equity 23.8% 22.9%
Dividend Yield 1.7% 1.9%
5-year Earnings Growth 13.9% 13.5%
Beta 1.0 1.0
10 Largest Holdings 24.3% 21.9%
# of Equity Securities 461 505
Turnover Rate 21.5 N/A
Market Sector Analysis Fund Index
Communication Services 10.5 10.2
Consumer Discretionary 10.3 10.2
Consumer Staples 6.9 7.3
Energy 4.9 5.0
Financials 13.9 13.1
Healthcare 12.2 14.2
Industrials 8.7 9.4
Information Technology 22.0 21.5
Materials 3.0 2.8
Real Estate 3.6 3.1
Utilities 3.3 3.3
Cash 0.7 0.0
Risk Metrics Fund
(5 YR)
Index
(5 YR)
Standard Deviation 12.2 12.0
Tracking Error 0.6 N/A
Sharpe Ratio 0.8 0.8
Information Ratio 0.6 N/A
Upside Capture 103.0 100.0
Downside Capture 101.3 100.0
Top Ten Holdings %
Microsoft Corporation 4.8
Apple Inc. 3.6
Amazon.com, Inc. 3.2
Alphabet Inc. 2.8
Berkshire Hathaway Inc. 2.6
Facebook, Inc. 1.9
JPMorgan Chase & Co. 1.5
Exxon Mobil Corporation 1.3
Visa Inc. 1.3
Abbott Laboratories 1.2
  • Q2 2019 Performance Review

    12-Month Review

    • Outperformance was largely concentrated inHealth Care, and to a lesser degree, Industrialsand Information Technology.
    • Health Care benefitted from the reweighting to biotech companies, which performed well for the period. Other areas such as Life Sciences and Health Care Equipment & Supplies were additive.
    • Industrials in aggregate added to relative return.
    • Information Technology was additive for the year.
    • Consumer Staples detracted.

    3-Month Review

    • Outperformance was concentrated in the HealthCare sector and Consumer Staples. This waspartially offset by losses in Industrials.
    • Restrictions on large pharma company holdings in aggregate added in the quarter.
    • In Consumer Staples, tobacco screens benefitted relative performance for the period.
    • Within Industrials, a relative overweight was the main detractor to industrial conglomerates as restricted names showed strong results during the quarter.

    Current Positioning

    • The Fund is positioned very similarly to theS&P 500 index.
    • Screening restrictions are most prominent in Health Care (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 500index, the differences will most likely emanate from one or more of these economic sectors.
    • Currently, the Fund is underweight in HealthCare. Within the sector, pharmaceutical is underweight. Health Care Equipment and Services stocks were overweight.

     

  • Fund Fact Sheet

    PDF
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