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Trending ETFs

Name

As of 03/27/2024

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

$9.73

$86.1 M

1.93%

$0.19

1.30%

Vitals

YTD Return

5.1%

1 yr return

13.5%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$86.1 M

Holdings in Top 10

15.4%

52 WEEK LOW AND HIGH

$9.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.30%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$9.73

$86.1 M

1.93%

$0.19

1.30%

CRNSX - Profile

Distributions

  • YTD Total Return 5.1%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 1.9%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL SMALL-CAP FUND
  • Fund Family Name
    Catholic Responsible Investments Funds
  • Inception Date
    Dec 31, 2019
  • Shares Outstanding
    8225179
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Peter Kashanek

Fund Description

The Fund seeks to achieve long-term capital appreciation by investing primarily in a broadly diversified portfolio of equity securities of small capitalization companies based in those countries included in the MSCI All Country World ex-US Small Cap Index (the “Index”) that are believed to have above-average market appreciation potential. Under normal circumstances, the Fund invests at least 80% of the value of its net assets plus borrowings for investment purposes in a broadly diversified portfolio of equity securities of small capitalization companies that are located in countries throughout the world. The Fund generally considers small-cap foreign companies to be those companies with similar market capitalization and located in countries included in the MSCI All Country World ex-US Small Cap Index. For purposes of the Fund’s 80% investment policy, equity securities include international equities traded on recognized global exchanges, private placements of

equity securities, rights offerings, warrants, ADRs, new issues of equity securities, ETFs that primarily invest in equity securities, and derivatives, primarily index futures with economic characteristics similar to equity securities. The Fund may at times purchase or sell futures contracts on the Index, or options on those futures, in lieu of investing directly in the stocks making up the Index. The Fund might do so, for example, in order to increase its investment exposure pending investment of cash in the stocks comprising the Index. Alternatively, the Fund might use futures or options on futures to reduce its investment exposure in situations where it intends to sell a portion of the stocks in its portfolio but the sale has not yet been completed. In some circumstances, the Fund may purchase ADRs, rather than foreign shares that are traded on foreign exchanges, because the ADRs have greater liquidity or for other reasons. Some of these investments will cause the Fund to be, in part, indirectly exposed to companies that would otherwise be screened out by the Adviser’s Catholic Responsible Investments screening criteria. Accordingly, the Fund limits such investments to situations where they (a) do not constitute, in the aggregate, more than 5% of the Fund’s investments at any time, and (b) where the Adviser determines such investments are necessary to achieve the Fund’s investment objective and when the Adviser believes there are no reasonable alternative investments that exist that are consistent with its Catholic Responsible Investing screening criteria.

From time to time, the Fund may also focus its investments in a particular geographic region, such as Europe or Asia. The Fund invests in both developed markets and emerging markets but will not invest in frontier markets. The Fund defines emerging markets countries as countries that are classified by MSCI Emerging Markets Index as emerging markets, and it defines frontier markets countries as countries that are classified by MSCI Frontier Markets Index. The Fund generally invests in at least three different countries, and invest at least 40% of its assets in securities of non-U.S. companies or, if conditions are not favorable, invest at least 30% of its assets in securities of non-U.S. companies. The Fund may engage in active and frequent trading of portfolio securities to achieve its principal investment strategies.

The Fund uses a multi-manager approach, relying upon a number of sub-advisers (each, a “Sub-Adviser” and collectively, the “Sub-Advisers”) with differing investment philosophies to manage portions of the Fund’s portfolio under the general supervision of the Adviser.

Global Alpha Capital Management Ltd. (“Global Alpha”)

Global Alpha’s International Small Cap Strategy used for the Fund consists of a concentrated portfolio of international small capitalization stocks, between 50 and 70 names, chosen by utilizing a fundamental approach to identify companies deemed to have unrecognized and accelerating earnings growth potential. The investment team’s bottom-up stock selection process is guided by key international themes that drive growth potential. Global

Alpha believes the key to generating consistent added value for clients over time is by creating portfolios from the bottom-up, using a global thematic perspective and a risk-controlled, low turnover approach. The application of this approach results in a portfolio with a core / growth style bias.

Lazard Asset Management LLC (“Lazard”)

The Lazard strategy utilized for the Fund seeks to outperform the MSCI ACW ex-US Small Cap Index. Lazard seeks consistency throughout market cycles and relies on a core, bottom-up stock selection approach while avoiding unwanted top-down or macro exposures to achieve this objective. The investment universe for the portion of the Fund’s assets allocated to Lazard consists of approximately 6,000 developed and emerging-market small cap stocks using an active, quantitatively based investment process that evaluates each company’s growth potential, valuation, market sentiment and financial quality on a daily basis relative to global peers. Portfolio risks are managed independently by maintaining exposures that are similar to the benchmark including region, industry, country, capitalization and beta.

The active, quantitative approach utilized by Lazard’s portfolio management team begins by defining the universe of stocks with sufficient liquidity and data to develop a proper analysis. Additional criteria are used to restrict the universe according to the Fund’s commitment to Catholic Responsible InvestingSM. Companies are evaluated daily relative to peers according to Lazard’s assessment of four independent measures, including growth potential, valuation, market sentiment and financial quality. Companies deemed to have the most attractive rankings will typically receive the largest relative weight. Risk is managed on a benchmark relative basis controlling country, industry, sector, capitalization, beta within prescribed ranges around the benchmark allowing stock selection to determine relative return.

The Fund will typically invest the majority of its assets allocated to Lazard in equity securities, including REITs of non-US developed and emerging markets companies. Under normal circumstances, the Fund invests at least 80% of its assets allocated to Lazard in equity securities. Asset allocation among countries and regions is designed to approximate that of the underlying benchmark, attempting to assure return consistency with the asset class. Lazard will not engage in market timing or make significant shifts between country markets or economic sectors based on their outlook.

Catholic Responsible Investing

The Fund will invest its assets in a manner consistent with the components, details and definitions of Catholic Responsible Investing (“CRI”) as adopted from time to time by the De La Salle Brothers of the Christian Schools. CRI is an investment strategy designed specifically to help investors seek sound financial returns while remaining faithful to the teachings of the Roman Catholic Church. The components and details of CRI are intended to reflect both the charism (or founding spirit) and the current teachings of

the Roman Catholic Church and, as such, the components and details are as adopted from time to time by the De La Salle Brothers of the Christian Schools, currently through the action of its civil entity, the Adviser.

CRI blends core Roman Catholic Church teaching with a disciplined, diversified investment process aimed at delivering competitive, risk-adjusted returns over time. Currently, the three components of CRI are Catholic investment screening, active ownership and diversified investment management. For more information about the Fund’s policy to invest consistent with CRI and these three components, please see the section of the prospectus entitled “More Information about the Funds’ Investment Objectives, Principal Investment Strategies and Principal Risks, Fundamental Investment Policy of Catholic Responsible Investing.”

As part of the Fund’s Catholic Responsible Investing Process, the Adviser maintains a master list of global securities that are restricted from inclusion in the Fund’s portfolio. While the Catholic Responsible Investing screening criteria are designed to exclude certain companies or investments from the potential investment universe because these companies operate businesses deemed inconsistent with Catholic values, the Adviser does not anticipate this reduction to have a material impact on the Fund’s ability to achieve its investment objective. The Adviser seeks to balance the impact of the Catholic Responsible Investing screening criteria by either overweighting select portfolio holdings or substituting additional holdings so that the Fund’s overall portfolio composition is adjusted to achieve its investment objective. As a result, Fund performance may be different than a fund with a similar investment strategy that does not invest in accordance with Catholic Responsible Investing screening criteria.

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CRNSX - Performance

Return Ranking - Trailing

Period CRNSX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% -3.1% 7.7% 22.62%
1 Yr 13.5% 1.8% 24.4% 58.33%
3 Yr N/A* -6.9% 6.2% N/A
5 Yr N/A* 2.2% 9.8% N/A
10 Yr N/A* 2.3% 6.7% N/A

* Annualized

Return Ranking - Calendar

Period CRNSX Return Category Return Low Category Return High Rank in Category (%)
2023 9.2% 1.1% 25.3% 95.24%
2022 N/A -35.4% -13.9% N/A
2021 N/A -5.3% 14.4% N/A
2020 N/A 3.1% 21.2% N/A
2019 N/A 13.1% 25.4% N/A

Total Return Ranking - Trailing

Period CRNSX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.1% -3.1% 7.7% 22.62%
1 Yr 13.5% 1.8% 24.4% 58.33%
3 Yr N/A* -6.9% 6.2% N/A
5 Yr N/A* 2.2% 9.8% N/A
10 Yr N/A* 2.3% 6.7% N/A

* Annualized

Total Return Ranking - Calendar

Period CRNSX Return Category Return Low Category Return High Rank in Category (%)
2023 12.0% 2.5% 25.8% 88.10%
2022 N/A -35.4% -10.9% N/A
2021 N/A 7.7% 18.9% N/A
2020 N/A 3.5% 21.7% N/A
2019 N/A 16.9% 32.7% N/A

NAV & Total Return History


CRNSX - Holdings

Concentration Analysis

CRNSX Category Low Category High CRNSX % Rank
Net Assets 86.1 M 6.5 M 10.3 B 84.52%
Number of Holdings 400 2 4647 27.38%
Net Assets in Top 10 11 M 1.08 M 10 B 94.05%
Weighting of Top 10 15.43% 0.2% 100.0% 46.43%

Top 10 Holdings

  1. MELIA HOTELS INTERNATIONAL COMMON STOCK 1.83%
  2. SOPRA STERIA GROUP COMMON STOCK 1.74%
  3. LOOMIS AB COMMON STOCK 1.68%
  4. L'OCCITANE INTERNATIONAL SA COMMON STOCK 1.62%
  5. SAMSONITE INTERNATIONAL SA COMMON STOCK 1.49%
  6. ASICS CORP COMMON STOCK 1.48%
  7. INTERNET INITIATIVE JAPAN COMMON STOCK 1.44%
  8. SALMAR ASA COMMON STOCK 1.40%
  9. SEVEN BANK LTD COMMON STOCK 1.38%
  10. SAVILLS PLC COMMON STOCK 1.37%

Asset Allocation

Weighting Return Low Return High CRNSX % Rank
Stocks
96.22% 0.98% 99.40% 52.38%
Cash
3.01% 0.00% 99.02% 41.67%
Preferred Stocks
0.77% 0.00% 2.90% 7.14%
Other
0.00% -0.08% 52.74% 46.43%
Convertible Bonds
0.00% 0.00% 0.00% N/A
Bonds
0.00% 0.00% 0.35% 14.29%

Stock Sector Breakdown

Weighting Return Low Return High CRNSX % Rank
Utilities
0.00% 0.00% 4.57% N/A
Technology
0.00% 0.00% 22.43% N/A
Real Estate
0.00% 0.00% 12.22% N/A
Industrials
0.00% 12.46% 32.63% N/A
Healthcare
0.00% 0.00% 18.67% N/A
Financial Services
0.00% 2.16% 21.69% N/A
Energy
0.00% 0.00% 12.34% N/A
Communication Services
0.00% 1.47% 14.57% N/A
Consumer Defense
0.00% 2.29% 13.66% N/A
Consumer Cyclical
0.00% 9.23% 27.42% N/A
Basic Materials
0.00% 0.00% 13.14% N/A

Stock Geographic Breakdown

Weighting Return Low Return High CRNSX % Rank
Non US
95.57% 0.00% 99.37% 41.67%
US
0.65% 0.00% 99.04% 73.81%

CRNSX - Expenses

Operational Fees

CRNSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.30% 0.08% 2.84% 44.05%
Management Fee 0.96% 0.05% 1.03% 72.62%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 0.25% N/A

Sales Fees

CRNSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 0.00% 5.00% N/A

Trading Fees

CRNSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 2.00% 2.00% 33.33%

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.

CRNSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 1.00% 185.00% N/A

CRNSX - Distributions

Dividend Yield Analysis

CRNSX Category Low Category High CRNSX % Rank
Dividend Yield 1.93% 0.00% 3.83% 33.33%

Dividend Distribution Analysis

CRNSX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Annual

Net Income Ratio Analysis

CRNSX Category Low Category High CRNSX % Rank
Net Income Ratio N/A 0.03% 2.41% N/A

Capital Gain Distribution Analysis

CRNSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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CRNSX - Fund Manager Analysis

Managers

Peter Kashanek


Start Date

Tenure

Tenure Rank

Dec 03, 2021

0.49

0.5%

Peter Kashanek Director, Client Portfolio Manager Lazard Asset Management LLC (Boston) Peter Kashanek is a Client Portfolio Manager on Lazard's Quantitative Equity team. He began working in the investment field in 1994. Prior to joining Lazard in 2007, Peter was a Principal and a Portfolio Manager in the Global Active Equity group at State Street Global Advisors (SSgA). Previously, Peter was an investment analyst in the Institutional Equity Research Group at Bank of Montreal where he focused on global energy companies.

Taras Ivanenko


Start Date

Tenure

Tenure Rank

Dec 03, 2021

0.49

0.5%

Taras Ivanenko, CFA Director, Portfolio Manager/Analyst Lazard Asset Management LLC (Boston) Taras Ivanenko is a Portfolio Manager/Analyst on Lazard's Quantitative Equity team. He began working in the investment field in 1995. Prior to joining Lazard in 2007, Taras was a Senior Portfolio Manager in the Global Active Equity group at State Street Global Advisors (SSgA). Earlier at SSgA, he was a Principal and Senior Application Development Architect in the Equity Systems group. Previously, Taras was an analyst in Quantitative Research and Trading Systems at Oxbridge Research.

Ciprian Marin


Start Date

Tenure

Tenure Rank

Dec 03, 2021

0.49

0.5%

Ciprian Marin is a Director, Portfolio Manager/Analyst on Lazard's Equity Advantage team. He began working in the investment field in 1997 and joined Lazard in 2008. Education: MBA in Finance, International University of Japan and a BS in International Economics, Academy of Economic Studies Bucharest. Ciprian is a Certified Investment Adviser (UK). He holds FINRA (formerly NASD) Series 7 and JASDA Series 2 registrations. He has managed a portion of the Fund since August 2015.

Serge Depatie


Start Date

Tenure

Tenure Rank

Dec 03, 2021

0.49

0.5%

Serge is a Portfolio Manager responsible for the North American region, as well as global coverage of the Materials and Health Care sectors. Joining Global Alpha in 2015, Serge brings with him over 15 years of financial services experience holding positions such as Chief Investment Officer of NCP Investment Management, Portfolio Manager and Analyst of Global Equities at Natcan Investment Management as well as sell-side equity analyst positions with Canadian-based broker dealers.

Alex Lai


Start Date

Tenure

Tenure Rank

Dec 03, 2021

0.49

0.5%

Alex Lai is a Portfolio Manager/Analyst on Lazard's Quantitative Equity team. He began working in the investment field in 2002. Prior to joining Lazard in 2008, Alex was a Vice President and Quantitative Portfolio Manager in the Global Active Equity group at State Street Global Advisors (SSgA). Prior to that, Alex was an investment-banking analyst at Lehman Brothers Asia in Hong Kong. He has an MSc in Finance from Boston College and a BBA (Hons) in Finance and Accounting from the University of Michigan, Ann Arbor.

Robert Beauregard


Start Date

Tenure

Tenure Rank

Dec 03, 2021

0.49

0.5%

Robert is Chief Investment Officer for Global Alpha and is lead portfolio manager for its global small cap equity strategies. Robert is also responsible for global coverage of the energy and utilities sectors. Prior to founding Global Alpha, Robert was Senior Vice President and portfolio manager at Natcan Investment Management. Before joining Natcan, Robert managed a global high tech portfolio and co-managed the Canadian Small Cap Equity Fund for Caisse de Dépôt du Québec.

David Savignac


Start Date

Tenure

Tenure Rank

Dec 03, 2021

0.49

0.5%

David is a Portfolio Manager responsible for Europe and global coverage of the Technology and Industrials sectors. Prior to joining Global Alpha, David spent four years at Natcan Investment Management where he held a variety of senior analyst positions, including Risk & Performance and Small Caps and was co-manager of Natcan's Global Small Cap Fund. David also spent time at TAL Global Asset Management and Desjardins Securities. David received a BSc from HEC Montreal. He is fluent in English, French and Spanish."

Qing Ji


Start Date

Tenure

Tenure Rank

Dec 03, 2021

0.49

0.5%

Qing Ji, Portfolio Manager, is responsible for the Asia-Pacific region at Global Alpha, as well as global coverage of the Consumer Discretionary and Consumer Staples sectors. In the eight years before joining Global Alpha in 2011, Ms. Ji worked in the financial industry in Canada, Singapore and Switzerland. Most recently, she was Senior Analyst – Financial Markets for the Bank of Canada. Prior to that, Ms. Ji held various analyst and wealth management positions with Laurentian Bank Securities, ING Private Bank Asia (Singapore), Credit Lyonnais (Singapore) and Temenos Systems SA (Switzerland).

Sain Godil


Start Date

Tenure

Tenure Rank

Dec 03, 2021

0.49

0.5%

Sain is an Associate Portfolio Manager for the North American region, as well as global coverage of the Financials and Telecom sectors as well as stock screening. Born in India, Sain graduated with great distinction from Goa University in 1999. Prior to immigrating to Canada, he was an Asset Manager for ICICI, India's second largest bank. Before taking the position with ICICI, Sain worked at 3Global services (a division of Hutchison Whampoa Group) and previously at Vinray Education where he was a manager.

John Geissinger


Start Date

Tenure

Tenure Rank

Dec 03, 2021

0.49

0.5%

John Geissinger, CFA is the Chief Investment Officer at CBIS, a Catholic, socially responsible investment manager with over $10.3 billion in assets under management. CBIS is positioned at the intersection of faith and finance, serving Catholic investors across the globe. Mr. Geissinger is responsible for developing investment policies and programs that achieve the investment objectives of the organization and its investors. He is responsible the development of CBIS’ overall investment philosophy and direction, including ultimate responsibility for the manager-of-managers function. He is a member of the firm's Executive Committee. John brings 30 years of portfolio and risk management experience in prominent financial services firms. He was a partner with Hewitt EnnisKnupp (2012-2014), a provider of investment consulting to corporate and public pension plans, endowments, foundations and defined contribution plans. His prior experience includes chief investment officer roles with North Dakota Retirement and Investment Office (2010-2012), Natsource, LLC (2008-2010) and Bear Stearns Asset Management (1998-2008), as well as research and portfolio management experience with Chancellor/LGT Asset Management, Putnam Investments and Aetna Life and Casualty. John holds a bachelor’s degree from Wake Forest University, MBA from New York University and is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 21.76 7.58 18.43