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: 0.58%; Class B: 0.29%

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 09/30/2019

Trailing 3 Months 1 Year 3 Years 5 Years 10 Years
CUIT Small Capitalization Equity Index Fund Class A -0.31 -9.61 8.61 8.21 10.87
CUIT Small Capitalization Equity Index Fund Class B -0.17 -9.30 8.93 8.54 11.21
S&P SmallCap 600 Index § -0.20 -9.34 9.20 8.77 11.49
Calendar Year 2018 2017 2016 2015 2014 2013
CUIT Small Capitalization Equity Index Fund Class A -8.9 14.43 20.60 -4.75 4.46 38.05
CUIT Small Capitalization Equity Index Fund Class B -8.63 14.81 20.97 -4.53 4.81 38.38
S&P SmallCap 600 Index § -8.48 15.22 21.31 -4.41 4.90 38.82

Characteristics as of 06/30/2019

Statistics Fund Index
Weighted Median Market Cap $1.8B $1.8B
Price/Book 1.8x 1.8x
Price/Earnings 18.8x 18.7x
Return on Equity 9.6% 9.7%
Dividend Yield 1.6% 1.6%
5-year Earnings Growth 8.3% 8.2%
Beta 1.0 1.0
Active Share 2.0 N/A
10 Largest Holdings 5.3% 5.3%
# of Equity Securities 595 601
Turnover Rate 41.5 N/A
Market Sector Analysis Fund Index
Communication Services 2.0 1.9
Consumer Discretionary 13.8 13.8
Consumer Staples 3.3 3.4
Energy 3.7 3.7
Financials 17.9 17.9
Healthcare 11.6 11.8
Industrials 19.5 19.6
Information Technology 14.7 14.7
Materials 4.2 4.3
Real Estate 6.7 6.9
Utilities 2.2 2.2
Cash 0.4 0.0
Risk Metrics Fund
(5 YR)
Index
(5 YR)
Standard Deviation 16.7 16.8
Tracking Error 0.2 N/A
Sharpe Ratio 0.4 0.4
Information Ratio 0.5 N/A
Upside Capture 99.8 100.0
Downside Capture 99.4 100.0
Top Ten Holdings %
Selective Insurance Group, Inc. 0.6
FirstCash, Inc. 0.6
Tetra Tech, Inc. 0.6
Mercury Systems, Inc. 0.5
Strategic Education, Inc. 0.5
John Bean Technologies Corporation 0.5
Axon Enterprise, Inc. 0.5
Repligen Corporation 0.5
Omnicell, Inc. 0.5
LHC Group, Inc. 0.5
  • Q1 2019 Performance Review

    12-Month Review

    • For the trailing 12-month period, the Fund marginally outperformed the index.
    • Consumer Discretionary and Health Care benefitted results for the period. Specifically, issues in specialty retailers and allowable holdings in the pharmaceutical industry were additive.

    3-Month Review

    • The Fund’s performance was in line with the benchmark for the quarter.
    • All sectors were either in line with the index for the quarter or had no notable individual contributors.

    Current Positioning

    • The Fund is positioned very similarly to the S&P 600 index.
    • CRI 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 less than2% of the S&P 600 index, this Fund will almost always closely track the index, but underperform marginally due to management fees.
  • Fund Fact Sheet

    PDF
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