Objective

Long-term capital appreciation by attempting to replicate the performance of the S&P SmallCap 600 Index, a commonly used index of domestic small-capitalization stocks.

Strategy

Closely track the benchmark Index, while seeking replacements for screened stocks among companies with similar market capitalizations in the same or a related industry. The Fund’s share price closely tracks the performance of the S&P SmallCap 600 Index.

Fund Facts
Asset Manager
  • RhumbLine Advisers(Since 1/1/07)
Benchmark S&P SmallCap 600 Index
Fund Inception Date December 29, 2006
Mimimum Investment Class A: No minimum; Class B: $3 million
Expense Ratio Class A: 0.61%; Class B: 0.31%

Additional Facts

Effective November 1, 2017, the benchmark for the CUIT Small Cap Equity Index Fund was changed to the S&P SmallCap 600 Index. For periods prior to November 1, 2017, the benchmark was the Russell 2000 Index.

The S&P SmallCap 600 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 Small Capitalization 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 SmallCap 600 Index.

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

Trailing 3 Months 1 Year 3 Years 5 Years 10 Years
CUIT Small Capitalization Equity Index Fund Class A 21.95 -11.45 -0.02 2.84 9.41
CUIT Small Capitalization Equity Index Fund Class B 22.10 -11.14 0.29 3.16 9.74
S&P SmallCap 600 Index § 21.94 -11.29 0.43 3.32 9.99
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

 

Source: BNY Mellon, SS&C

Characteristics as of 06/30/2020

Statistics Fund Index
Weighted Median Market Cap $1.6B $1.6B
Price/Book 1.5x 1.5x
Price/Earnings 17.2x 17.2x
Return on Equity 9.3% 9.3%
Dividend Yield 2.1% 2.1%
5-year Earnings Growth 11.4% 11.2%
Beta 1.0 0.0
Active Share 3.1 N/A
10 Largest Holdings 6.1% 5.2%
# of Equity Securities 597 601
Turnover Rate 41.8 N/A
Market Sector Analysis Fund Index
Communication Services 2.7 2.7
Consumer Discretionary 14.4 14.8
Consumer Staples 3.5 3.7
Energy 3.0 3.0
Financials 15.0 15.1
Healthcare 13.0 13.2
Industrials 17.9 18.1
Information Technology 14.0 14.1
Materials 4.9 5.0
Real Estate 8.2 8.1
Utilities 2.3 2.2
Cash 1.1 0.0
Risk Metrics Fund
(5 YR)
Index
(5 YR)
Standard Deviation 20.2 20.3
Tracking Error 0.3 N/A
Sharpe Ratio 0.1 0.1
Information Ratio 0.6 N/A
Upside Capture 100.1 100.0
Downside Capture 99.5 100.0
Top Ten Holdings %
E-Mini Russell 2000 (CME) Sep 20 0.9
Exponent, Inc. 0.6
Neogen Corporation 0.6
Wingstop, Inc. 0.6
Momenta Pharmaceuticals, Inc. 0.6
Emergent BioSolutions Inc. 0.6
Agree Realty Corporation 0.5
Power Integrations, Inc. 0.5
NeoGenomics, Inc. 0.5
Simpson Manufacturing Co., Inc. 0.5

 

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 driven primarily by three sectors: Consumer Staples, Health Care and Consumer Discretionary.
    • The Consumer Discretionary sector cost this period driven by restrictions. A re-weight of an issue helped.
    • Energy contributed driven by underweights to weaker areas.
    • The Materials sector cost the Fund.

    3-Month Review

    • Results were driven primarily by performance in Industrials and Consumer Staples.
    • Industrials led the way this quarter due primarily to restricting a name.
    • Consumer Staples added from restricting a couple names, although re-weighting an issue cost the Fund.
    • Health Care and Consumer Discretionary cost the Fund.

    Current Positioning

    • The Fund is positioned very similarly to the S&P 600 index.
    • Catholic Responsible InvestmentsSM restrictions are most prominent in Health Care (e.g., pharmaceutical companies), Consumer Staples (tobacco stocks), and Industrials (aerospace and defense). When there are differences in performance between the Fund and the S&P 600 index, the differences will most likely emanate from one or more of these economic sectors.
    • Since restricted securities comprise ~2% of the S&P 600 Index, this Fund will almost always closely track the index, but underperform marginally due to management fees.

 

All attribution is based on gross portfolio performance.

  • Fund Fact Sheet

    PDF
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