Fund Overview

Fund Overview

Share Class

N

NAV | as of 05/20/2022

$10.72
+$0.02 (+0.19%)

Morningstar | Style Box

V B G L M S

Morningstar Analyst Rating

as of 11/12/2021 Download Analyst Rating Report

Growth of $10,000 (Hypothetical)

Since Inception 06/28/2005 to 04/30/2022 = $36,089.35

  • 3YR
  • 5YR
  • 10YR
  • INCEP.
INCEP.
  • 3YR
  • 5YR
  • 10YR
  • INCEP.

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown.

Objective

Seeks to provide high current income and, secondarily, long-term capital appreciation by investing primarily in a diversified, all cap portfolio of income producing equity securities.

Why Consider

  • May be appropriate for investors looking to gain exposure to diversified U.S. companies of all sizes
  • Enlightened risk management—portfolio managers will not average down on losing positions
  • Employs a fundamentals-driven Absolute Value® investment philosophy, targeting companies above $300 million with high and growing dividends selling at a discount to absolute value

Henry W. Sanders III, CFA

EXECUTIVE VICE PRESIDENT

Thomas S. Forsha, CFA

CO-CHIEF INVESTMENT OFFICER

Andrew R. McIntosh, CFA

ASSOCIATE PORTFOLIO MANAGER

Performance

Performance

Read Important Investment Disclosures

Returns

Trailing Returns

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Returns for periods less than one year are not annualized.

Expense Ratios

  • Gross Expense Ratio: 1.09%
  • Net Expense Ratio: 1.07%
  • Expense Cap Expiration Date: 03/01/2023

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
Mar 29, 2022 $0.050900 $0.050900
Dec 15, 2021 $2.330300 $0.135200 $0.029900 $2.165200
Sep 28, 2021 $0.067800 $0.067800
Jun 28, 2021 $0.020100 $0.020100
Mar 29, 2021 $0.053700 $0.053700
Dec 16, 2020 $0.061300 $0.061300
Sep 28, 2020 $0.068600 $0.068600
Jun 26, 2020 $0.038700 $0.038700
Mar 27, 2020 $0.074300 $0.074300
Dec 16, 2019 $0.896800 $0.161100 $0.735700
Sep 26, 2019 $0.030100 $0.030100
Jun 26, 2019 $0.065500 $0.065500
Mar 27, 2019 $0.051900 $0.051900
Dec 27, 2018 $0.873400 $0.148500 $0.724900
Sep 26, 2018 $0.054200 $0.054200
Jun 27, 2018 $0.011500 $0.011500
May 29, 2018 $0.011600 $0.011600
Apr 26, 2018 $0.000800 $0.000800
Mar 27, 2018 $0.005700 $0.005700
Feb 26, 2018 $0.006900 $0.006900
Dec 27, 2017 $0.751700 $0.175800 $0.043000 $0.532900
Nov 27, 2017 $0.014100 $0.014100
Oct 26, 2017 $0.011500 $0.011500
Sep 26, 2017 $0.011800 $0.011800
Aug 28, 2017 $0.011900 $0.011900
Jul 26, 2017 $0.011900 $0.011900
Jun 27, 2017 $0.007800 $0.007800
May 25, 2017 $0.005000 $0.005000
Apr 25, 2017 $0.010800 $0.010800
Mar 28, 2017 $0.011700 $0.011700
Feb 23, 2017 $0.007000 $0.007000
Dec 27, 2016 $0.957800 $0.100800 $0.857000
Nov 25, 2016 $0.019800 $0.019800
Oct 26, 2016 $0.006000 $0.006000
Sep 30, 2016 $0.025700 $0.025700
Aug 31, 2016 $0.045300 $0.045300
Jul 29, 2016 $0.009400 $0.009400
Jun 30, 2016 $0.025600 $0.025600
May 31, 2016 $0.031000 $0.031000
Apr 29, 2016 $0.006800 $0.006800
Mar 31, 2016 $0.017700 $0.017700
Dec 30, 2015 $1.209700 $0.054300 $1.155400
Oct 30, 2015 $0.008000 $0.008000
Sep 30, 2015 $0.029200 $0.029200
Aug 31, 2015 $0.025300 $0.025300
Jul 31, 2015 $0.007500 $0.007500
Jun 30, 2015 $0.029500 $0.029500
May 29, 2015 $0.023300 $0.023300
Apr 30, 2015 $0.007900 $0.007900
Mar 31, 2015 $0.021700 $0.021700
Dec 30, 2014 $1.212800 $0.046400 $1.166400
Nov 28, 2014 $0.026100 $0.026100
Oct 31, 2014 $0.046600 $0.046600
Sep 30, 2014 $0.065700 $0.065700
Aug 29, 2014 $0.024300 $0.024300
Jul 31, 2014 $0.036300 $0.036300
Jun 30, 2014 $0.027400 $0.027400
May 30, 2014 $0.049400 $0.049400
Apr 30, 2014 $0.007400 $0.007400
Mar 31, 2014 $0.034700 $0.034700
Feb 28, 2014 $0.056200 $0.056200
Dec 30, 2013 $0.849500 $0.034900 $0.077400 $0.737200
Nov 29, 2013 $0.052400 $0.052400
Oct 31, 2013 $0.013700 $0.013700
Sep 30, 2013 $0.017900 $0.017900
Aug 30, 2013 $0.037200 $0.037200
Jun 28, 2013 $0.026000 $0.026000
May 31, 2013 $0.037400 $0.037400
Mar 28, 2013 $0.004700 $0.004700
Feb 28, 2013 $0.035800 $0.035800
Jan 31, 2013 $0.000300 $0.000300
Dec 28, 2012 $0.499600 $0.056100 $0.100600 $0.342900
Nov 30, 2012 $0.037500 $0.037500
Oct 31, 2012 $0.026500 $0.026500
Sep 28, 2012 $0.019100 $0.019100
Aug 31, 2012 $0.039200 $0.039200
Jul 31, 2012 $0.011600 $0.011600
Jun 29, 2012 $0.028700 $0.028700
May 31, 2012 $0.038800 $0.038800
Apr 30, 2012 $0.014000 $0.014000
Mar 30, 2012 $0.020000 $0.020000
Feb 29, 2012 $0.033100 $0.033100
Jan 31, 2012 $0.005100 $0.005100
Dec 29, 2011 $0.098200 $0.027700 $0.070500
Nov 30, 2011 $0.038400 $0.038400
Oct 31, 2011 $0.009100 $0.009100
Sep 30, 2011 $0.019200 $0.019200
Aug 31, 2011 $0.029100 $0.029100
Jul 29, 2011 $0.005000 $0.005000
Jun 30, 2011 $0.037600 $0.037600
May 31, 2011 $0.028300 $0.028300
Apr 29, 2011 $0.017200 $0.017200
Mar 31, 2011 $0.027900 $0.027900
Feb 28, 2011 $0.028500 $0.028500
Jan 31, 2011 $0.006500 $0.006500
Dec 29, 2010 $0.026600 $0.026600
Nov 30, 2010 $0.024900 $0.024900
Oct 29, 2010 $0.011000 $0.011000
Sep 30, 2010 $0.021600 $0.021600
Aug 31, 2010 $0.032900 $0.032900
Jul 30, 2010 $0.014300 $0.014300
Jun 30, 2010 $0.016900 $0.016900
May 28, 2010 $0.026000 $0.026000
Apr 30, 2010 $0.012000 $0.012000
Mar 31, 2010 $0.020400 $0.020400
Feb 26, 2010 $0.019600 $0.019600
Jan 29, 2010 $0.012900 $0.012900
Dec 29, 2009 $0.030200 $0.030200
Nov 30, 2009 $0.014400 $0.014400
Oct 30, 2009 $0.012100 $0.012100
Sep 30, 2009 $0.019400 $0.019400
Aug 31, 2009 $0.015000 $0.015000
Jul 31, 2009 $0.012700 $0.012700
Jun 30, 2009 $0.010800 $0.010800
May 29, 2009 $0.024900 $0.024900
Apr 30, 2009 $0.013000 $0.013000
Mar 31, 2009 $0.012000 $0.012000
Feb 27, 2009 $0.013000 $0.013000
Jan 30, 2009 $0.014600 $0.014600
Dec 29, 2008 $0.028600 $0.028600
Nov 26, 2008 $0.014400 $0.014400
Oct 31, 2008 $0.017900 $0.017900
Sep 30, 2008 $0.032900 $0.032900
Aug 29, 2008 $0.024000 $0.024000
Jul 31, 2008 $0.015400 $0.015400
Jun 30, 2008 $0.027500 $0.027500
May 30, 2008 $0.035900 $0.035900
Apr 30, 2008 $0.009200 $0.009200
Mar 31, 2008 $0.042300 $0.042300
Feb 29, 2008 $0.029700 $0.029700
Jan 31, 2008 $0.013100 $0.013100
Dec 14, 2007 $0.708100 $0.044000 $0.469000 $0.195100
Nov 30, 2007 $0.035100 $0.035100
Oct 31, 2007 $0.017700 $0.017700
Sep 28, 2007 $0.037800 $0.037800
Aug 31, 2007 $0.036200 $0.036200
Jul 31, 2007 $0.013300 $0.013300
Jun 29, 2007 $0.040500 $0.040500
May 31, 2007 $0.039400 $0.039400
Apr 30, 2007 $0.022700 $0.022700
Mar 30, 2007 $0.047600 $0.047600
Feb 28, 2007 $0.034800 $0.034800
Jan 31, 2007 $0.010900 $0.010900
Dec 15, 2006 $0.156000 $0.023100 $0.072800 $0.060100
Nov 30, 2006 $0.042800 $0.042800
Oct 31, 2006 $0.019800 $0.019800
Sep 29, 2006 $0.031400 $0.031400
Aug 31, 2006 $0.038500 $0.038500
Jul 31, 2006 $0.015700 $0.015700
Jun 30, 2006 $0.036600 $0.036600
May 31, 2006 $0.048500 $0.048500
Apr 28, 2006 $0.019700 $0.019700
Mar 31, 2006 $0.048200 $0.048200
Feb 28, 2006 $0.036600 $0.036600
Jan 31, 2006 $0.020700 $0.020700
Dec 16, 2005 $0.032300 $0.032300
Nov 30, 2005 $0.058200 $0.058200
Oct 31, 2005 $0.021800 $0.021800
Sep 30, 2005 $0.036200 $0.036200
Aug 31, 2005 $0.043400 $0.043400
Jul 29, 2005 $0.020800 $0.020800

Risk & Return Stats

As of: 04/30/2022

3YR 5YR 10YR
Alpha
Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha.
-1.55 -1.57 -1.02
Standard Deviation
Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance.
18.90 16.54 13.61
Sharpe Ratio
Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance.
0.35 0.35 0.63
Upside Capture Ratio (%)
Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets.
84.60 85.51 77.12
Downside Capture Ratio (%)
Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets.
95.80 98.86 97.63
Beta
Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk.
0.95 0.96 0.94
R-Squared
R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures.
96.38 96.62 94.28
Tracking Error (%)
Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero.
3.71 3.11 3.37
View All Characteristics & Stats

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Equity)

As of: 03/31/2022

AES Corp 3.86%
United Parcel Service Inc, Class B 3.86%
Verizon Communications Inc 3.31%
Comcast Corp, Class A 3.28%
Oracle Corp 3.27%
Corning Inc 3.17%
Progressive Corp 2.94%
AbbVie Inc 2.89%
Truist Financial Corp 2.86%
Bristol-Myers Squibb Co 2.82%
% in Top 10 Holdings 32.26%
View Holding Details Read Important Investment Disclosures

Sector Allocation (Equity)

As of: 03/31/2022

View Allocation Details

Investment Approach

Investment Approach

River Road Dividend All Cap Value Fund

Under normal conditions, the Fund invests at least 80% of its assets in a diversified, all cap portfolio of dividend paying equities. The Fund’s Absolute Value® approach utilizes systematic and dynamic proprietary research to target companies exhibiting:

  • Financial strength and high, growing dividend yields at attractive prices
  • Shareholder-oriented management teams
  • Undiscovered, under-followed, misunderstood companies with attractive business models

Keep Calm and Remain Diversified

A Short - and Long-Term Review on the Power of Diversification

Read More

About

Background

River Road Asset Management was established in 2005 and provides institutional separate account and investment sub-advisory services to a broad range of domestic and international clients. The firm was founded upon a proprietary Absolute Value® investment discipline. This approach was developed by River Road’s founders and occupies a distinct niche within value investing styles.

Learn More

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ARSVX

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ARSMX

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Founded

2005


Headquarters

Louisville, KY


Affiliate Since

2014

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