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Trending ETFs

Name

As of 09/29/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.94

$23.4 M

0.96%

$0.12

1.02%

Vitals

YTD Return

-5.2%

1 yr return

-1.8%

3 Yr Avg Return

7.3%

5 Yr Avg Return

-0.8%

Net Assets

$23.4 M

Holdings in Top 10

36.3%

52 WEEK LOW AND HIGH

$12.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.02%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 30.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

$1,000,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 09/29/2023

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.94

$23.4 M

0.96%

$0.12

1.02%

CCMSX - Profile

Distributions

  • YTD Total Return -5.2%
  • 3 Yr Annualized Total Return 7.3%
  • 5 Yr Annualized Total Return -0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.46%
DIVIDENDS
  • Dividend Yield 1.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Cardinal Small Cap Value Fund
  • Fund Family Name
    Cardinal Capital
  • Inception Date
    Apr 01, 2014
  • Shares Outstanding
    7668033
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Eugene Fox

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities of small capitalization companies. The Adviser defines small capitalization companies as companies with market capitalizations, at the time of acquisition, within the range of market capitalizations of companies constituting the Russell 2000 Index. The securities in which the Fund invests are primarily common stock and real estate investment trusts (“REITs”).

The Adviser uses a value investment strategy based on proprietary fundamental research. Value investing involves buying stocks that, in the view of the Adviser, are out of favor or undervalued relative to their peers. The Adviser emphasizes companies with the ability to generate discretionary cash flow after spending what is required to maintain the business at its current level of revenue, and to redeploy such

cash flow to enhance value. The Adviser also looks for the following characteristics:

Stable and predictable business model

Motivated and competent management

Unduly depressed valuation

Catalyst for positive market revaluation

To manage risk, the Adviser seeks to adhere to a strong buy, hold and sell discipline. The Adviser may sell a security if (1) its expected return falls below certain levels due to price appreciation, (2) its market capitalization appreciates above the range of small capitalization securities, (3) there are, in the view of the Adviser, adverse changes in the fundamentals of the issuer, (4) the Adviser believes that the business model of the issuer becomes unpredictable, or (5) the Adviser believes better relative value exists elsewhere.

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CCMSX - Performance

Return Ranking - Trailing

Period CCMSX Return Category Return Low Category Return High Rank in Category (%)
YTD -5.2% -47.5% 140.9% 98.42%
1 Yr -1.8% -52.6% 156.3% 98.60%
3 Yr 7.3%* -24.4% 33.8% 89.59%
5 Yr -0.8%* -20.9% 8.2% 96.89%
10 Yr N/A* -12.0% 7.9% N/A

* Annualized

Return Ranking - Calendar

Period CCMSX Return Category Return Low Category Return High Rank in Category (%)
2022 -18.6% -60.4% 118.2% 31.51%
2021 25.7% -43.3% 39.3% 7.17%
2020 -2.3% -51.0% 39.5% 92.62%
2019 21.4% -5.6% 37.8% 42.88%
2018 -19.0% -67.3% -0.5% 36.58%

Total Return Ranking - Trailing

Period CCMSX Return Category Return Low Category Return High Rank in Category (%)
YTD -5.2% -47.5% 140.9% 98.42%
1 Yr -1.8% -52.6% 162.9% 98.60%
3 Yr 7.3%* -15.8% 55.4% 89.59%
5 Yr -0.8%* -13.7% 26.9% 96.89%
10 Yr N/A* -1.0% 23.5% N/A

* Annualized

Total Return Ranking - Calendar

Period CCMSX Return Category Return Low Category Return High Rank in Category (%)
2022 -17.8% -60.4% 123.7% 67.78%
2021 26.1% -43.3% 47.7% 66.67%
2020 -1.8% -50.5% 46.9% 96.86%
2019 22.6% 2.1% 43.7% 74.42%
2018 -14.3% -28.2% 6.0% 74.16%

NAV & Total Return History


CCMSX - Holdings

Concentration Analysis

CCMSX Category Low Category High CCMSX % Rank
Net Assets 23.4 M 438 K 147 B 95.54%
Number of Holdings 48 2 2519 93.48%
Net Assets in Top 10 8.51 M 213 K 4.6 B 91.08%
Weighting of Top 10 36.32% 2.8% 101.7% 8.78%

Top 10 Holdings

  1. CBIZ INC COMMON STOCK 4.57%
  2. Nexstar Media Group Inc COMMON STOCK 4.56%
  3. BWX TECHNOLOGIES INC COMMON STOCK 4.00%
  4. SILGAN HOLDINGS INC COMMON STOCK 3.77%
  5. SPECTRUM BRANDS HOLDINGS INC COMMON STOCK 3.67%
  6. DT MIDSTREAM INC COMMON STOCK 3.30%
  7. VERINT SYSTEMS INC COMMON STOCK 3.26%
  8. STARWOOD PROPERTY TRUST INC REIT 3.16%
  9. LITHIA MOTORS INC COMMON STOCK 3.06%
  10. FIRST MERCHANTS CORP COMMON STOCK 2.96%

Asset Allocation

Weighting Return Low Return High CCMSX % Rank
Stocks
92.46% 25.32% 100.32% 93.48%
Cash
2.76% -79.10% 74.68% 38.42%
Preferred Stocks
0.00% 0.00% 5.85% 71.18%
Other
0.00% -8.80% 6.95% 81.30%
Convertible Bonds
0.00% 0.00% 3.17% 71.13%
Bonds
0.00% 0.00% 72.07% 72.73%

Stock Sector Breakdown

Weighting Return Low Return High CCMSX % Rank
Industrials
18.67% 2.46% 37.42% 31.94%
Financial Services
16.92% 0.00% 35.52% 29.17%
Consumer Cyclical
14.65% 0.99% 47.79% 9.38%
Communication Services
12.27% 0.00% 14.85% 0.69%
Technology
12.22% 0.00% 54.70% 75.35%
Real Estate
9.48% 0.00% 29.43% 17.71%
Energy
6.51% 0.00% 37.72% 41.67%
Consumer Defense
3.21% 0.00% 18.87% 72.74%
Basic Materials
2.08% 0.00% 18.66% 95.66%
Utilities
2.06% 0.00% 18.58% 62.33%
Healthcare
1.92% 0.00% 26.53% 99.48%

Stock Geographic Breakdown

Weighting Return Low Return High CCMSX % Rank
US
92.46% 24.89% 100.00% 90.05%
Non US
0.00% 0.00% 36.31% 76.33%

CCMSX - Expenses

Operational Fees

CCMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.02% 0.01% 13.16% 53.79%
Management Fee 0.70% 0.00% 1.50% 43.03%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.45% 61.00%

Sales Fees

CCMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

CCMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

CCMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 30.00% 1.00% 314.00% 27.77%

CCMSX - Distributions

Dividend Yield Analysis

CCMSX Category Low Category High CCMSX % Rank
Dividend Yield 0.96% 0.00% 46.30% 74.96%

Dividend Distribution Analysis

CCMSX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Semi-Annually Annually

Net Income Ratio Analysis

CCMSX Category Low Category High CCMSX % Rank
Net Income Ratio 0.46% -2.40% 2.49% 30.33%

Capital Gain Distribution Analysis

CCMSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

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CCMSX - Fund Manager Analysis

Managers

Eugene Fox


Start Date

Tenure

Tenure Rank

Apr 01, 2014

8.17

8.2%

Eugene Fox, III is a managing partner of Cardinal Capital. He is responsible for investment research and portfolio management. He has been in the investment industry since 1987. Before leaving for Cardinal in 1995, Eugene was a managing director of Deltec Asset Management where he and Amy Minella, a retired partner, built the value equity investment management business. Eugene joined Deltec from D.S. Kennedy & Co., a small cap value equity firm, where he was an investment analyst and previously held financial positions at FMC Corporation from 1984 to 1991. These included five years as the dire

Rachel Matthews


Start Date

Tenure

Tenure Rank

Apr 01, 2014

8.17

8.2%

Rachel D. Matthews is a partner of Cardinal Capital. She is responsible for investment research and portfolio management. She has been in the investment industry since 1989. Prior to joining Cardinal in 2001, Rachel spent three years as a high yield bond trader at OppenheimerFunds, Inc. responsible for trade execution and relative value trades for $7 billion in assets. She was previously a sell-side trader of short-term U.S. government securities at HSBC Securities for two years, responsible for a gross trading position of $500 million. Previously, Rachel was a private placement credit analyst at the Mutual Life Insurance Company of New York for three years specializing in the manufacturing, chemical, railroad, and finance industries. She started her career at MONY in 1988 as a systems analyst in the real estate area. Rachel holds a BA in economics from Columbia University and a MBA in finance from New York University.

Robert Kirkpatrick


Start Date

Tenure

Tenure Rank

Apr 01, 2014

8.17

8.2%

Robert B. Kirkpatrick, CFA is a managing partner of Cardinal Capital. He is responsible for investment research and portfolio management. He has been in the investment industry since 1985. Prior to joining Cardinal in 2000, Robert was a partner at Breeco Management, a $125 million equity hedge fund for three years. Previously, he held senior equity portfolio management positions with Unifund S.A., a Swiss-based global private investment company with over $1 billion in capital. Robert also served for six years as a managing director at Bigler/Crossroads, a $700 million venture capital and small

Robert Fields


Start Date

Tenure

Tenure Rank

Dec 31, 2015

6.42

6.4%

Robert H. Fields is a partner of Cardinal Capital. He is responsible for investment research and portfolio management. He has been in the investment industry since 1998. Prior to joining Cardinal in 2013, Robert was a partner and portfolio manager for two years at Ana Capital Management, a long-biased opportunistic value investment firm. Previously, he was a partner and director of research at Breeden Capital Management, a concentrated, long-only investment firm and an analyst covering value equities and distressed debt at MFP Investors, the personal investment firm of Michael F. Price. Robert holds a BS from Ball State University and a MBA from The Wharton School at The University of Pennsylvania.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 49.61 7.02 2.58