Small Cap Diversified Value Fund (HWVAX)

I SHARES    A SHARES   

The performance data quoted represents past performance and does not guarantee future results. Current performance may be lower or higher. Investment return and principal value of the fund will fluctuate, and shares may be worth more or less than their original cost when redeemed. Click quarter-end or month-end to obtain the most recent fund performance.

Characteristics
As of 12/31/2017
TOP TEN STOCKS (%)1
CVR Refining LP
0.5
Whiting Petroleum Corp.
0.5
Chuy's Holdings Inc.
0.5
PBF Energy Inc.
0.5
Fossil Group Inc.
0.4
Dril-Quip Inc.
0.4
Frank's International
0.4
Ambac Financial Group Inc.
0.4
Altisource Residential Corp.
0.4
Ensco PLC
0.4
0% 0.2% 0.4% 0.6% 0.8% 1%
TOP TEN INDUSTRIES (%)1
Banks
16.0
Oil, Gas & Consumable Fuels
5.6
Insurance
5.1
Specialty Retail
3.7
Semicond/Semiconductor Equipment
3.7
Machinery
3.6
Professional Services
3.5
Energy Equipment & Services
3.5
Household Durables
3.2
Thrifts & Mortgage Finance
3.2
0% 4% 8% 12% 16% 20%
SECTOR BREAKDOWN (%)1
  Portfolio Russell 2000 Value2 Russell 20002
Financials 27.5 30.7 18.1
Consumer Discretionary 18.1 10.3 11.9
Industrials 16.9 12.0 15.0
Information Technology 11.0 9.1 16.8
Energy 9.1 6.3 3.7
Materials 3.9 4.2 4.4
Health Care 3.1 6.2 15.8
Consumer Staples 2.6 2.7 2.6
Utilities 2.6 6.7 3.7
Real Estate 1.9 11.2 7.2
Telecommunication Services 0.8 0.6 0.8
STATISTICS
  Portfolio Russell 2000 Value Russell 2000
Projected P/E (FY2) 13.6x 16.0x 17.7x
Price/Normal Earnings 11.5x 15.9x 18.9x
Price/Book 1.4x 1.5x 2.2x
Price/Sales 0.8x 1.2x 1.4x
Weighted Average Market Capitalization (millions) $1,381 $2,108 $2,398
Median Market Capitalization (millions) $1,066 $752 $868
Standard Deviation 14.93 13.97 13.91
Beta 1.04 -- --
Alpha 1.58 -- --
R-Squared 0.94 -- --

Mutual fund investing involves risk. Principal loss is possible. Investing in smaller and/or newer companies involves greater risks than those associated with investing in larger companies, such as business risk, significant stock price fluctuations and illiquidity.  The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods.

Diversification does not assure a profit nor protect against loss in a declining market.

Information on the Fund’s holdings, portfolio characteristics and attribution reports are subject to its portfolio holdings disclosure policy. Such information may be obtained through the Funds’ website or by calling 800-796-5606. Fund holdings and/or sector allocations are subject to change and are not buy/sell recommendations. Information presented based on proprietary or third-party estimates are subject to change and cannot be guaranteed.

% of Total Portfolio includes total investments, cash and cash equivalents, and accrued investment income on a trade date basis. 
2 As of 9/30/17

Index definitions

Glossary of financial terms