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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

$7.90

$14.4 M

0.00%

1.71%

Vitals

YTD Return

-1.5%

1 yr return

17.0%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$14.4 M

Holdings in Top 10

42.8%

52 WEEK LOW AND HIGH

$7.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.71%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

$100,000


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

$7.90

$14.4 M

0.00%

1.71%

PBMIX - Profile

Distributions

  • YTD Total Return -1.5%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -1.05%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Polen U.S. SMID Company Growth Fund
  • Fund Family Name
    Polen Capital
  • Inception Date
    Apr 01, 2021
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Rayna Lesser Hannaway

Fund Description

The Fund typically invests in a focused portfolio of common stocks of small and mid-cap companies and, under normal circumstances, the Fund invests at least 80% of its net assets in securities of U.S. issuers that are small or mid-cap companies. This 80% policy to invest in small and mid-cap companies may be changed by the Board of Trustees without shareholder approval upon 60 days’ notice to shareholders. The Adviser considers small and mid-cap companies for this purpose to be those companies that, at the time of purchase, are within the range of the market capitalizations of companies in the Russell 2500® Growth Index. This policy does not require the Fund to sell the security of a small or mid-cap company if such company’s market capitalization moves outside the range of the market capitalizations of companies in the Russell 2500® Growth Index; however, additional purchases of such security will be subject to the 20% limitation for securities outside of the Fund’s small and mid-cap company portfolio. As of April 30, 2023, the average weighted market capitalization of the issuers in the Russell 2500® Growth Index was $62.56 billion.

The Adviser uses an intensive fundamental research process to identify companies that it believes have certain attractive characteristics, which typically reflect of an underlying competitive advantage. Those characteristics associated with the Fund’s growth style of investing include: (i) consistent and sustainable high return on capital, (ii) strong earnings growth and free cash flow generation, (iii) strong balance sheets typically with low or no net debt to total capital and (iv) competent and shareholder-oriented management teams. The Fund invests in companies that the Adviser believes have a sustainable competitive advantage within an industry with high barriers to entry. The Adviser believes that such companies not only have the potential to contribute greater returns to the Fund, but also may hold less risk of loss of capital.

The Adviser believes that consistent earnings growth is the primary driver of long-term stock price appreciation. Accordingly, the Adviser focuses its efforts on identifying and investing in a concentrated portfolio of high-quality small capitalization growth companies that, in the Adviser’s opinion, are able to deliver sustainable above average earnings growth driven by a sustainable competitive advantage. The Adviser integrates material environmental, social, and governance (ESG) factors into research analysis as part of a comprehensive evaluation of a company’s long-term financial sustainability.

The Fund is non-diversified, which means that a significant portion of the Fund’s assets may be invested in the securities of a single or small number of companies and/or in a more limited number of sectors than a diversified mutual fund. Although the Fund may not “concentrate” (invest 25% or more of its net assets) in any industry, the Fund may focus its investments from time to time in one or more sectors of the economy or stock market.

The Fund will usually sell a security if, in the view of the Adviser, there is a potential threat to the company’s competitive advantage or a degradation in its prospects for strong, long-term earnings growth. The Adviser may also sell a security if it is believed by the Adviser to be overvalued or if a more attractive investment opportunity exists. Although the Adviser may purchase and then sell a security in a shorter period of time, the Adviser typically invests in securities with the expectation of holding those investments on a long term basis.

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PBMIX - Performance

Return Ranking - Trailing

Period PBMIX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.5% -5.1% 27.8% 98.37%
1 Yr 17.0% -6.1% 60.7% 95.63%
3 Yr N/A* -24.0% 86.1% N/A
5 Yr N/A* -2.9% 100.8% N/A
10 Yr N/A* 0.4% 37.0% N/A

* Annualized

Return Ranking - Calendar

Period PBMIX Return Category Return Low Category Return High Rank in Category (%)
2023 27.5% -27.7% 68.0% 9.29%
2022 -45.7% -85.6% 350.1% 92.67%
2021 N/A -77.0% 238.3% N/A
2020 N/A -44.1% 2474.5% N/A
2019 N/A -50.2% 44.0% N/A

Total Return Ranking - Trailing

Period PBMIX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.5% -5.1% 27.8% 98.37%
1 Yr 17.0% -6.1% 60.7% 95.63%
3 Yr N/A* -24.0% 86.1% N/A
5 Yr N/A* -2.9% 100.8% N/A
10 Yr N/A* 0.4% 37.0% N/A

* Annualized

Total Return Ranking - Calendar

Period PBMIX Return Category Return Low Category Return High Rank in Category (%)
2023 27.5% -26.1% 68.0% 10.56%
2022 -45.7% -67.0% 440.7% 96.89%
2021 N/A -23.5% 342.2% N/A
2020 N/A 2.6% 2549.1% N/A
2019 N/A 14.6% 44.8% N/A

NAV & Total Return History


PBMIX - Holdings

Concentration Analysis

PBMIX Category Low Category High PBMIX % Rank
Net Assets 14.4 M 1.94 M 84.5 B 97.64%
Number of Holdings 38 25 3644 88.57%
Net Assets in Top 10 8.58 M 319 K 8.39 B 94.74%
Weighting of Top 10 42.79% 0.4% 99.9% 16.33%

Top 10 Holdings

  1. Globant SA 6.26%
  2. Dynatrace Inc 5.63%
  3. Houlihan Lokey Inc 5.06%
  4. Goosehead Insurance Inc 4.37%
  5. Trex Co Inc 4.20%
  6. Five Below Inc 4.06%
  7. Wingstop Inc 3.50%
  8. Hamilton Lane Inc 3.43%
  9. Floor Decor Holdings Inc 3.18%
  10. Morningstar Inc 3.10%

Asset Allocation

Weighting Return Low Return High PBMIX % Rank
Stocks
98.96% 0.92% 101.49% 38.66%
Cash
1.04% 0.00% 99.08% 64.07%
Preferred Stocks
0.00% 0.00% 5.46% 39.02%
Other
0.00% -0.18% 16.96% 52.09%
Convertible Bonds
0.00% 0.00% 0.40% 29.58%
Bonds
0.00% -3.27% 1.87% 33.39%

Stock Sector Breakdown

Weighting Return Low Return High PBMIX % Rank
Technology
43.81% 0.04% 62.17% 4.17%
Consumer Cyclical
35.76% 0.00% 57.41% 0.73%
Financial Services
10.80% 0.00% 43.01% 25.23%
Healthcare
6.30% 0.00% 37.06% 93.47%
Industrials
3.33% 0.00% 38.23% 92.92%
Utilities
0.00% 0.00% 12.94% 47.37%
Real Estate
0.00% 0.00% 19.28% 87.66%
Energy
0.00% 0.00% 62.10% 74.23%
Communication Services
0.00% 0.00% 18.33% 91.83%
Consumer Defense
0.00% 0.00% 16.40% 88.57%
Basic Materials
0.00% 0.00% 17.25% 82.21%

Stock Geographic Breakdown

Weighting Return Low Return High PBMIX % Rank
US
98.96% 0.64% 101.49% 33.39%
Non US
0.00% 0.00% 34.81% 46.82%

PBMIX - Expenses

Operational Fees

PBMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.71% 0.02% 17.54% 19.16%
Management Fee 1.00% 0.00% 1.50% 93.27%
12b-1 Fee N/A 0.00% 1.00% 32.67%
Administrative Fee N/A 0.00% 0.40% N/A

Sales Fees

PBMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PBMIX 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.

PBMIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 250.31% N/A

PBMIX - Distributions

Dividend Yield Analysis

PBMIX Category Low Category High PBMIX % Rank
Dividend Yield 0.00% 0.00% 32.46% 43.19%

Dividend Distribution Analysis

PBMIX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually SemiAnnual Annual

Net Income Ratio Analysis

PBMIX Category Low Category High PBMIX % Rank
Net Income Ratio -1.05% -2.24% 2.75% 82.14%

Capital Gain Distribution Analysis

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

Distributions History

View More +

PBMIX - Fund Manager Analysis

Managers

Rayna Lesser Hannaway


Start Date

Tenure

Tenure Rank

Apr 01, 2021

1.16

1.2%

Ms. Lesser Hannaway joined Polen Capital in 2017. She is co-portfolio manager of the firm’s U.S. Small Company Growth strategy and lead portfolio manager of the U.S. SMID Growth strategy. Prior to joining Polen Capital, she spent nine years in portfolio management and two years as a research analyst at Fidelity Investments in Boston evaluating small and mid-cap companies. She also spent nine years working in small cap research for Jennison Associates and Lord Abbett & Company. Ms. Lesser Hannaway received a B.A. in Economics from Barnard College, a division of Columbia University, where she graduated summa cum laude in 1996. Ms. Lesser Hannaway is a CFA® charterholder since 2000. She is a current member of the Board of Trustees at Shore Country Day School and former board member of North Shore Nursery School, both in Beverly, Massachusetts, and is actively involved with Big Brothers Big Sisters of Massachusetts Bay.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 36.3 9.23 2.25