Fund Overview

Share Class

N

NAV | as of 03/15/2024

$9.53
+$0.00 (+0.00%)

Morningstar | Style Box

V B G L M S

Growth of $10,000 (Hypothetical)

Since Inception 06/28/2005 to 02/29/2024 = $36,768.57

  • 3YR
  • 5YR
  • 10YR
  • INCEP.
INCEP.
  • 3YR
  • 5YR
  • 10YR
  • INCEP.
SEE ALL PERFORMANCE

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 800.548.4539. 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 $700 million with high and growing dividends selling at a discount to absolute value

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 800.548.4539. 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 shorter than one year are not annualized.

Expense Ratios

  • Gross Expense Ratio: 1.02%
  • Net Expense Ratio: 0.97%
  • Expense Cap Expiration Date: 03/01/2025

Distributions & Pricing

Distributions

Calendar Year Distributions

Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
Dec 14, 2023 $0.267200 $0.032700 — $0.234500
Sep 27, 2023 $0.034800 $0.034800 — —
Jun 28, 2023 $0.063800 $0.063800 — —
Mar 29, 2023 $0.048000 $0.048000 — —
Dec 15, 2022 $1.238800 $0.079700 — $1.159100
Sep 28, 2022 $0.047300 $0.047300 — —
Jun 28, 2022 $0.041200 $0.041200 — —
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 Statistics

As of: 02/29/2024

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.
-1.74 -2.82 -1.65
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.
14.93 17.77 14.73
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.
0.18 0.19 0.33
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.
76.79 73.54 71.94
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.
92.42 97.03 98.25
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.
0.87 0.92 0.92
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.
92.72 95.06 94.53
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.
4.54 4.22 3.64
View All Characteristics & Statistics

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Equity)

As of: 12/31/2023

Oracle Corp 3.93%
Cogent Communications Holdings Inc 3.83%
Comcast Corp, Class A 3.71%
Vistra Corp 3.66%
Williams Cos Inc 3.54%
Kinder Morgan Inc, Class P 3.28%
AES Corp 3.28%
PNC Financial Services Group Inc 3.27%
United Parcel Service Inc, Class B 3.11%
Progressive Corp 3.10%
% in Top 10 Holdings 34.71%
View Holding Details Read Important Investment Disclosures

Sector Allocation (Equity)

As of: 12/31/2023

View Allocation Details

About the Affiliate

About River Road Asset Management

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 About River Road Asset Management's Approach

FOUNDED

2005

AMG AFFILIATE SINCE

2014

HEADQUARTERS

Louisville, KY

Portfolio Managers

Thomas S. Forsha, CFA

CO-CHIEF INVESTMENT OFFICER, SENIOR PORTFOLIO MANAGER

Read full bio

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

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