U.S. Small Cap Equity
Objective

The U.S. Small Cap Equity Strategy seeks to outperform the Russell 2000 Index over a market cycle, while reducing overall volatility.

Investment Strategy
Team
Portfolio Guidelines
Characteristics As Of June 30, 2019
Sector Weights
CharacteristicsStrategyRussell 2000
Strategy Assets ($ Million)75.42-
Number of Holdings1062002
Beta*0.831.00
Standard Deviation* (%)14.9417.11
Market Cap. ($ Billion)0.902.13
Price to Trailing Earnings17.1220.37
Price to Cash Flow11.1413.14
Price to Book1.512.45
Enterprise Value to Sales2.742.82
Debt as % of Assets31.4726.23
Dividend Yield (%)**3.251.55
Return on Equity (%)8.599.00
* Beta & Standard Deviation 36 months
** Dividend yield weighted average, all other data weighted median
Top 10 HoldingsTickerWeight
AAR CORPAIR1.23%
UNIFIRST CORP/MAUNF1.10%
COMTECH TELECOMMUNICATIONSCMTL1.09%
ISTAR INCSTAR1.09%
KELLY SERVICES INC -AKELYA1.09%
WHITE MOUNTAINS INSURANCE GPWTM1.08%
FIRST FINANCIAL CORP/INDIANATHFF1.08%
LANDEC CORPLNDC1.08%
TRIPLE-S MANAGEMENT CORP-BGTS1.07%
HEALTHSTREAM INCHSTM1.07%
Risk Statistics
Since Inception (February 01, 2014) Risk StatisticsStrategyRussell 2000
Annualized Return12.34%7.67%
Annualized Standard Deviation13.36%16.19%
Return/Risk0.920.47
Tracking Error6.76%-
R-Squared83.33%-
Alpha6.02%-
Beta0.75-
Total Returns As Of June 30, 2019
Inception Date: February 1, 2014
Strategy Excess Returns Vs. Benchmark Results (Monthly)
Calendar Year Returns
2018201720162015
Strategy Gross of Fees-8.80%10.00%32.12%2.61%
Strategy Net of Fees-9.44%9.35%31.71%2.61%
Russell 2000-11.03%14.63%21.28%-4.41%

Compliance Statement

Performance numbers for the most recent period are preliminary and subject to change. Returns for periods of less than one year are not annualized. Past performance is not a reliable indicator of future performance and should not be relied upon to make investment decisions.

The benchmark is the Russell 2000® Index. The Russell 2000® Index consists of the smallest 2,000 companies in a group of 3,000 U.S. companies in the Russell 3000® Index, as ranked by market capitalization.

You cannot invest directly in an index.

For a GIPS-compliant composite presentation, see this Fact Sheet:

Fact Sheets
U.S. Small Cap Equity Q2 2019
Commentary
U.S. Small Cap Commentary
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