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SNWIX Snow Small Cap Value Fund

The Snow Small Cap Value Fund employs a contrarian, fundamental, relative-value investment philosophy on the smaller capitalization segment of the value equity market.

Morningstar Rating: Overall

Overall Morningstar rating as of April 30, 2023. Based on risk-adjusted returns. Category: Small Value out of 449 funds.

More Information

NAV

$46.67
5/26/2023

YTD

3.30%
5/26/2023
at NAV

NAV Disclosure

Downloads

Fact Sheet Prospectus Summary Prospectus Statement of Additional Information

Why This Fund?

  • People: Co-Portfolio Managers Josh Schachter and Philip Greenblatt have an average of 16 years of value investing experience and are supported by a seven-person investment team.   
  • Portfolio: The conviction-weighted portfolio consists of 40 to 60 of our best small-cap value investment ideas. With a market cap profile similar to the index, the portfolio is diversified by sector and provides high active share.
  • Philosophy: Investment philosophy that is consistent with modern behavioral finance research and aims to take advantage of investor overreactions to negative surprises.
  • Process: Fundamental research process focuses on helping to identify out-of-favor stocks that are in sound financial condition and should experience an upward rerating in their P/E ratio with a positive shift in investor sentiment.

Fund Facts

As of 5/26/2023

INCEPTION DATE
11/30/2010
NET ASSETS
$20.9MM
ASSET CLASS
Equity
MORNINGSTAR CATEGORY
Small Value
BENCHMARK
Russell 2000 Value Index
GROSS EXPENSES
1.71% View Disclosure
NET EXPENSES
1.25% View Disclosure
CUSIP
470258559

Top 10 Holdings

As of 3/31/2023

Portfolio Weighting

Super Micro Computer, Inc.
4.98%
Cinemark Holdings, Inc.
4.43%
Brinker International, Inc.
4.32%
ABM Industries, Inc.
4.12%
Photronics, Inc.
3.93%
American Equity Invt Life
3.82%
Bloomin' Brands, Inc.
3.51%
ACCO Brands, Corp.
3.40%
AMN Healthcare Services, Inc.
3.39%
CNO Financial Group, Inc.
3.38%

Monthly Returns

As of 4/30/2023

1 MOYTD1 YR3 YR5 YR10 YRSince Inception
Snow Small Cap Value Fund I (SNWIX)-1.84%-1.95%0.57%24.93%5.68%6.04%8.48%
Morningstar Small Value Category-2.11%-0.43%-2.48%19.11%5.08%--
View Disclosure

Past performance does not guarantee future results and current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate, so that shares when redeemed may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 888.814.8180.

Daily Pricing and Returns

Performance as of 5/26/2023

NAV CHG % YTD
Snow Small Cap Value Fund I (SNWIX) $46.67 1.74 3.30
View Disclosure

Past performance does not guarantee future results and current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate, so that shares when redeemed may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 888.814.8180.

Quarterly Returns

As of 3/31/2023

QTDYTD1 YR3 YR5 YR10 YRSince Inception
Snow Small Cap Value Fund I (SNWIX)-0.11%-0.11%-5.07%32.87%6.80%6.22%8.70%
Morningstar Small Value Category 1.66%1.66%-6.65%25.45%5.72%7.58%-
View Disclosure

Past performance does not guarantee future results and current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate, so that shares when redeemed may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 888.814.8180.

Calendar Year Performance

202220212020201920182017201620152014201320122011
SNOW SMALL CAP VALUE FUND I (SNWIX)-8.13%26.32%22.10%18.38%-19.56%
6.58%
21.04%
-17.00%
2.85%
41.69%
21.69%
0.87%
Morningstar Small Value Category-10.16%31.57%4.02%21.43%-15.46%
8.54%
25.99%
-6.71%3.34%
36.22%
16.00%
-4.45%
View Disclosure

Past performance does not guarantee future results and current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate, so that shares when redeemed may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 888.814.8180.

Sector Breakdown

As of 3/31/2023

Financials

23.20% 

Consumer Discretionary

17.14% 

Information Technology

13.33% 

Health Care

11.04% 

Industrials

10.60% 

Energy

9.47% 

Communication Services

7.86% 

Consumer Staples

3.94% 

Materials

3.42% 

Real Estate

0.00% 

Utilities

0.00% 

View Glossary

Fund Characteristics

As of 3/31/2023

Average Market Cap (Billions)

$3.11 

Forward P/E Estimate

7.98 

Price-to-Book

1.52 

PEG Ratio Forecast 12-Month

0.29 

EPS Growth Estimate

10.13% 

LT Debt/Equity

117.63% 

LT Debt/Capital

41.20% 

Active Share

96.39% 

View Glossary

Fund Statistics - 3 Year

3/31/2023

Benchmark: Russell 2000 Value Index

Sharpe Ratio

1.12 

Sortino Ratio

2.41 

Beta

1.15% 

R-Squared

91.54 

Information Ratio

1.35 

View Glossary

Distribution History

Distribution DateDistribution NAVLong-Term Capital GainShort-Term Capital GainReturn of CapitalDividend Income
12/27/2149.34---0.08
12/29/15-0.11---
12/29/14-2.541.00--
12/27/2013-0.730.72--
12/17/2012-0.021.43--
12/28/2011-0.000.10--

Info

Advisor

Easterly Investment Partners

Subadvisor

Easterly Investment Partners (EIP)

Easterly Investment Partners (EIP) is our traditional, fundamental-based investment arm. EIP bolsters highly experienced teams and their investment strategies with the robust infrastructure of Easterly Asset Management. EIP’s current offerings span the entire value-equity spectrum and are managed by seasoned investment professionals. While we offer value strategies today, we are currently working to broaden EIP to provide a wider range of client solutions to include growth and core.

Inception Date
2010
Headquarters
Sewickley, PA

Portfolio Manager(s)

Joshua Schachter

Joshua Schachter, CFA

Senior Portfolio Manager
21 Years of Industry Experience

Past Experience
Snow Capital

Phil Greenblatt

Phil Greenblatt, CFA

Portfolio Manager
12 Years of Industry Experience

Past Experience
Snow Capital

Documents

Statement of Additional Infromation

Download

Easterly Snow Small Cap Value Fund Morningstar Rating

Overall 3-Year 5-Year 10-Year
Morningstar Star Rating 2 4 2 1
# Funds in Category 449 449 425 324

Morningstar Rating as of April 30, 2023
Category: Small Value

© 2023 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

The Morningstar Rating™ for funds or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating metrics.

Morningstar Rating is for the I share class only; other classes may have different performance characteristics.

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