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Name

As of 11/27/2023

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

Pear Tree Polaris Small Cap Fund

USBNX | Fund

$23.51

$77.6 M

0.44%

$0.10

1.53%

Vitals

YTD Return

2.5%

1 yr return

-0.1%

3 Yr Avg Return

7.9%

5 Yr Avg Return

4.8%

Net Assets

$77.6 M

Holdings in Top 10

0.3%

52 WEEK LOW AND HIGH

$23.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.53%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 23.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/27/2023

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

Pear Tree Polaris Small Cap Fund

USBNX | Fund

$23.51

$77.6 M

0.44%

$0.10

1.53%

USBNX - Profile

Distributions

  • YTD Total Return 2.5%
  • 3 Yr Annualized Total Return 7.9%
  • 5 Yr Annualized Total Return 4.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.61%
DIVIDENDS
  • Dividend Yield 0.4%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Pear Tree Polaris Small Cap Fund
  • Fund Family Name
    Pear Tree Funds
  • Inception Date
    Jun 29, 1998
  • Shares Outstanding
    2849344
  • Share Class
    Individual
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Bernard Horn

Fund Description

Under normal market conditions, Small Cap Fund invests at least 80 percent of its net assets (plus borrowings for investment purposes) in equity securities, warrants, and rights derivative of or convertible into common stocks, in each case issued by small-cap issuers. Small Cap Fund considers a small-cap issuer to be a company having at the time of purchase by Small Cap Fund a market capitalization of between approximately $100 million to $5 billion, as well as one or more mutual funds, exchange-traded funds (“ETFs”), and business development companies (“BDCs”) that invests at least 80 percent of its net assets in similar securities issued by small-cap issuers.
Small Cap Fund, as part of its principal investment strategy, may invest up to 15 percent of its net assets (determined at the time of investment) in securities of foreign issuers, which includes securities traded on non-U.S. exchanges, American Depositary Receipts (“ADRs”) and foreign securities traded on U.S. exchanges. If such securities have been issued by a small-cap issuer at the time of purchase, Small Cap Fund may include those securities in the portion of its portfolio that is invested in small-cap issuers (at least 80 percent), subject to the 15 percent limit. Fund assets may be invested in any percentage in growth stocks and value stocks. Small Cap Fund’s sub-adviser generally considers
growth stocks to be equity securities issued by companies that have sustainable competitive advantages and products or services that potentially could generate significantly greater-than-average revenue and earnings growth. The sub-adviser generally considers value stocks to be equity securities whose recent and/or mid-term performance has lagged relative to the market but whose issuing companies have stable earnings and cash flows and where there are visible and imminent inflection points and catalysts that the sub-adviser expects will result in increased earnings and cash flow, driving stock appreciation.
In managing Small Cap Fund’s portfolio, its sub-adviser uses proprietary quantitative investment technology combined with traditional, value-based, fundamental research to identify potential investments. The sub-adviser uses traditional valuation measures, including price/book ratios and price/sustainable free cash flow ratios to screen its database of more than 40,000 global companies. The sub-adviser uses these measures to identify companies with the greatest potential for undervalued streams of sustainable free cash flow. The sub-adviser conducts fundamental research, interviewing and visiting with company management and creating detailed financial models on potential portfolio investments. The sub-adviser also maintains a “watch-list” of companies, which may be used if the valuation of a company held in Small Cap Fund’s portfolio falls below established limits. Small Cap Fund is “non-diversified,” that is, it may invest a higher percentage of its assets in a more limited number of issuers than a diversified portfolio. Although Small Cap Fund does not have an express policy to invest in equity securities of in any specific industry sector, from time to time it has invested more than 25 percent of its total assets in financial services companies.
Small Cap Fund’s sub-adviser may utilize options on existing security positions or indexes in an attempt to improve the risk/return profile of Small Cap Fund’s returns. The extent of the sub-adviser’s use of options may vary over time based on the sub-adviser’s assessment of market conditions and other factors.
Small Cap Fund may invest in other types of derivatives (i.e., a security or instrument whose value is determined by reference to the value or the change in value of one or more securities, currencies, indices or other financial instruments) for the purposes of hedging the value of the portfolio and establishing a position in the future. Small Cap Fund may hold cash, or it may manage its cash by investing in cash equivalents and money market funds.
Read More

USBNX - Performance

Return Ranking - Trailing

Period USBNX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -8.8% 21.4% 60.00%
1 Yr -0.1% -18.4% 21.0% 48.57%
3 Yr 7.9%* -8.3% 76.4% 47.45%
5 Yr 4.8%* -7.3% 44.6% 78.05%
10 Yr 4.3%* -5.2% 25.0% 81.58%

* Annualized

Return Ranking - Calendar

Period USBNX Return Category Return Low Category Return High Rank in Category (%)
2022 -13.7% -36.7% 212.9% 31.47%
2021 14.5% -62.0% 147.6% 64.60%
2020 -5.4% -24.8% 31.3% 86.12%
2019 14.2% -21.7% 34.0% 79.31%
2018 -17.7% -48.1% -8.3% 15.44%

Total Return Ranking - Trailing

Period USBNX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.5% -8.8% 21.4% 60.00%
1 Yr -0.1% -18.4% 21.0% 48.57%
3 Yr 7.9%* -8.3% 76.4% 47.45%
5 Yr 4.8%* -7.3% 44.6% 78.05%
10 Yr 4.3%* -5.2% 25.0% 81.58%

* Annualized

Total Return Ranking - Calendar

Period USBNX Return Category Return Low Category Return High Rank in Category (%)
2022 -5.1% -36.7% 250.0% 14.96%
2021 24.2% -2.4% 157.9% 87.82%
2020 -4.8% -20.0% 33.4% 89.41%
2019 23.5% -1.5% 34.3% 33.74%
2018 -10.9% -32.8% -6.0% 11.14%

NAV & Total Return History

USBNX - Holdings

Concentration Analysis

USBNX Category Low Category High USBNX % Rank
Net Assets 77.6 M 2.53 M 46.3 B 82.21%
Number of Holdings 54 10 1593 86.55%
Net Assets in Top 10 21.1 M 336 K 3.04 B 80.26%
Weighting of Top 10 0.27% 0.3% 92.6% 100.00%

Top 10 Holdings

  1. South Plains Financial, Inc. 0.04%
  2. Barrett Business Services, Inc. 0.03%
  3. OFG Bancorp 0.03%
  4. NOV Inc. 0.03%
  5. Graphic Packaging Holding Co. 0.03%
  6. Hercules Capital, Inc. 0.03%
  7. Eagle Materials Inc. 0.03%
  8. Ingredion Incorporated 0.03%
  9. EVERTEC Inc. 0.02%
  10. Kforce, Inc. 0.02%

Asset Allocation

Weighting Return Low Return High USBNX % Rank
Cash 		99.02% 0.00% 99.02% 0.43%
Stocks 		0.98% 0.00% 105.32% 99.13%
Preferred Stocks 		0.00% 0.00% 3.12% 97.40%
Other 		0.00% -0.77% 50.09% 95.66%
Convertible Bonds 		0.00% 0.00% 2.63% 97.36%
Bonds 		0.00% 0.00% 72.79% 97.40%

Stock Sector Breakdown

Weighting Return Low Return High USBNX % Rank
Financial Services 		23.16% 0.00% 35.71% 52.99%
Industrials 		18.76% 0.65% 48.61% 39.25%
Consumer Cyclical 		17.17% 0.00% 51.62% 15.52%
Technology 		12.52% 0.00% 34.03% 18.63%
Energy 		9.45% 0.00% 29.42% 32.37%
Healthcare 		7.07% 0.00% 25.76% 36.81%
Consumer Defense 		6.53% 0.00% 13.22% 16.19%
Basic Materials 		2.87% 0.00% 67.30% 91.13%
Communication Services 		2.46% 0.00% 24.90% 53.88%
Utilities 		0.00% 0.00% 13.86% 99.78%
Real Estate 		0.00% 0.00% 44.41% 99.78%

Stock Geographic Breakdown

Weighting Return Low Return High USBNX % Rank
US 		0.95% 0.00% 105.32% 99.13%
Non US 		0.03% 0.00% 63.99% 34.92%

USBNX - Expenses

Operational Fees

USBNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.53% 0.05% 36.54% 28.85%
Management Fee 0.80% 0.00% 1.50% 59.57%
12b-1 Fee 0.25% 0.00% 1.00% 66.17%
Administrative Fee 0.03% 0.01% 0.35% 5.00%

Sales Fees

USBNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

USBNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

USBNX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 23.00% 7.00% 252.00% 10.00%

USBNX - Distributions

Dividend Yield Analysis

USBNX Category Low Category High USBNX % Rank
Dividend Yield 0.44% 0.00% 8.34% 98.26%

Dividend Distribution Analysis

USBNX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual SemiAnnual Annual

Net Income Ratio Analysis

USBNX Category Low Category High USBNX % Rank
Net Income Ratio 0.61% -1.43% 4.13% 35.48%

Capital Gain Distribution Analysis

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

Distributions History

View More +

USBNX - Fund Manager Analysis

Managers

Bernard Horn

Start Date

Tenure

Tenure Rank

Jan 01, 2015

7.42

7.4%

Bernard Horn Jr. is President and Chief Investment Officer since 1998; Founder and Portfolio Manager since 1995; Investment professional since 1980.of Polaris Capital Management, LLC, a Boston-based global and international value equity management firm that serves as the sub-advisor for RBC International Equity. Prior to founding Polaris Capital in 1995, Bernard served as an investment officer for MDT Advisers, Inc. He also worked as a portfolio manager for Freedom Capital Management Corporation. From 1980 to 1990, Bernard was the principal and founder of Horn & Company, an investment counseling firm that specialized in global portfolio management for individuals, trusts and tax-qualified accounts. Bernard began his career in the investment industry in 1980. He received a BS from Northeastern University and a MS in Management from the Massachusetts Institute of Technology. In January 2007, Bernard was named Fund Manager of the year by MarketWatch. He was profiled in the January 2004 issue of SmartMoney Magazine and has been highlighted in Business Week, The New York Times, The Wall Street Journal and other national publications. Bernard has appeared on CNBC, CNNfn and Bloomberg TV to discuss global market trends.

Sumanta Biswas

Start Date

Tenure

Tenure Rank

Jan 01, 2015

7.42

7.4%

Sumanta Biswas, CFA, serves as Polaris Capital Management, LLC’s Vice President and Assistant Portfolio Manager since 2012. Mr. Biswas has been a partner at the Polaris Capital Management since 2007. Mr. Biswas’ professional experience includes completion of an internship at Delta Partners of Boston in 2001 where he served as an equity research analyst. From 1996 through July of 2000, he was an officer of the Securities and Exchange Board of India. In 1995, Mr. Biswas participated in the initial public offering of Electro Steel Casting, Ltd. of India while interning at IFB Finance Ltd. of India. In 1993, he was an engineering project manager trainee with Bridge & Roof Company of Calcutta, India, one of the largest construction companies in India. Mr. Biswas received a master’s of science degree in finance from Boston College in 2001, and an MBA from Calcutta University in India in 1996. He earned his undergraduate degree in engineering from North Bengal University in 1993, and holds a diploma in business finance from the Institute of Chartered Financial Analysts of India. He also holds the Chartered Financial Analyst (CFA) designation.

Bin Xiao

Start Date

Tenure

Tenure Rank

Jan 01, 2015

7.42

7.4%

Bin Xiao has became an Analyst with Polaris since 2006. Mr. Bin was in internship at HSBC Global Investment Banking in 2005, and in internship at Polaris Capital Management in 2004/2005. In 2002 to 2004 Mr. Bin serves as a software architect and project manager at PNC Financial Service Group (PFPC), following positions as an information systems engineer and software engineer at Vanguard Group and RIT Research Corporation respectively.

Jason Crawshaw

Start Date

Tenure

Tenure Rank

Aug 01, 2016

5.83

5.8%

Jason is a portfolio manager and conducts fundamental analysis of potential investment opportunities. He brings over 20 years of investment industry experience to the firm. His prior professional experience includes portfolio management roles at Liberty Square Asset Management where he managed a France only portfolio and co-managed international long and long/short funds. He has held past portfolio management roles at Brait Specialized Funds and Equinox and equity research positions at Coronation Securities and Firstcorp Merchant Bank. Mr. Crawshaw obtained his master’s in business administration from University of Notre Dame and graduated Magna Cum Laude in 1994. He received his undergraduate degree from Middlebury College in 1992.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 37.45 8.19 3.58

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