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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.

Overall Morningstar rating as of January 31, 2024. Based on risk-adjusted returns. Category: Small Value out of 457 funds.

More Information

$56.53
2/29/2024

2.37%
2/29/2024
at NAV

NAV Disclosure

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

INCEPTION DATE
11/30/2010
NET ASSETS
$24.3MM
ASSET CLASS
Equity
MORNINGSTAR CATEGORY
Small Value
BENCHMARK
Russell 2000 Value Index
GROSS EXPENSES
1.71% View Disclosure
NET EXPENSES
1.00% View Disclosure
CUSIP
470258542

Top 10 Holdings

PHOTRONICS INC
5.13%
CNO FINANCIAL GROUP INC
4.51%
PILGRIM'S PRIDE CORP
4.27%
BLOOMIN' BRANDS INC
4.19%
JACKSON FINANCIAL INC-A
3.95%
BRINKER INTERNATIONAL INC
3.88%
COLUMBIA BANKING SYSTEM INC
3.77%
DELEK US HOLDINGS INC
3.66%
LINCOLN NATIONAL CORP
3.66%
SILICON MOTION TECHNOL-ADR
3.30%

Monthly Returns

-0.83%-0.83%12.47%11.62%12.14%6.65%4.31%
3.09%-0.12%8.00%6.26%8.55%-

Performance data quoted is historical.

The performance data shown represents past performance, which does not guarantee future results. Investment returns and principal value will fluctuate, so that investors’ shares, when sold, may be worth more or less than their original cost. See performance data current to the most recent quarter end, which may be higher or lower than that cited. Performance figures assume that all distributions are reinvested. Performance shown is for the share class indicated only. The performance of other share classes will vary. For performance information current to the most recent month-end, please call 888.814.8180.

The fund’s Morningstar category average is a group of funds with similar investment objectives and strategies and is the equal-weighted return of all funds per category. Morningstar places funds in certain categories based on their historical portfolio holdings.

The inception date for I, A and C Shares was 11/30/2010; Inception for R6 Shares was 11/4/2021.

All returns are quoted as annualized if over 1 year. Returns for the fund’s first year are since fund inception. Calendar year returns do not reflect the maximum sales charge; otherwise, returns would vary.

The Fund’s management has contractually waived a portion of its management fees until June 30, 2024 for I, A, C and R6 Shares. The performance shown reflects the waivers without which the performance would have been lower. Total annual operating expenses before the expense reduction/reimbursement are 2.20%, 2.45%, 3.20% and 2.20% respectively; total annual operating expenses after the expense reduction/reimbursement are 1.25%, 1.50%, 2.25% and 1.00% respectively. 5.75% is the maximum sales charge on purchases of A Shares.

The Fund’s investment adviser has contractually agreed to reduce and/or absorb expenses until at least June 30, 2024 for I, A, C and R6 Shares, to ensure that net annual operating expenses of the fund (excluding front-end and contingent deferred sales loads, leverage, interest and tax expenses, dividends and interest on short positions, brokerage commissions, expenses incurred in connection with any merger, reorganization or liquidation, extraordinary or non-routine expenses and the indirect costs of investing in other investment companies) will not exceed 1.25%, 1.50%, 2.25%, and 1.00%, respectively, subject to possible recoupment from the Fund in future years.

Daily Pricing and Returns

$56.53 0.98 2.37

Performance data quoted is historical.

The performance data shown represents past performance, which does not guarantee future results. Investment returns and principal value will fluctuate, so that investors’ shares, when sold, may be worth more or less than their original cost. See performance data current to the most recent quarter end, which may be higher or lower than that cited. Performance figures assume that all distributions are reinvested. Performance shown is for the share class indicated only. The performance of other share classes will vary. For performance information current to the most recent month-end, please call 888.814.8180.

The fund’s Morningstar category average is a group of funds with similar investment objectives and strategies and is the equal-weighted return of all funds per category. Morningstar places funds in certain categories based on their historical portfolio holdings.

The inception date for I, A and C Shares was 11/30/2010; Inception for R6 Shares was 11/4/2021.

All returns are quoted as annualized if over 1 year. Returns for the fund’s first year are since fund inception. Calendar year returns do not reflect the maximum sales charge; otherwise, returns would vary.

The Fund’s management has contractually waived a portion of its management fees until June 30, 2024 for I, A, C and R6 Shares. The performance shown reflects the waivers without which the performance would have been lower. Total annual operating expenses before the expense reduction/reimbursement are 2.20%, 2.45%, 3.20% and 2.20% respectively; total annual operating expenses after the expense reduction/reimbursement are 1.25%, 1.50%, 2.25% and 1.00% respectively. 5.75% is the maximum sales charge on purchases of A Shares.

The Fund’s investment adviser has contractually agreed to reduce and/or absorb expenses until at least June 30, 2024 for I, A, C and R6 Shares, to ensure that net annual operating expenses of the fund (excluding front-end and contingent deferred sales loads, leverage, interest and tax expenses, dividends and interest on short positions, brokerage commissions, expenses incurred in connection with any merger, reorganization or liquidation, extraordinary or non-routine expenses and the indirect costs of investing in other investment companies) will not exceed 1.25%, 1.50%, 2.25%, and 1.00%, respectively, subject to possible recoupment from the Fund in future years.

Quarterly Returns

12.56%22.55%22.55%12.46%15.50%6.18%4.89%
12.93%16.86%16.86%11.29%11.87%6.92%-

Performance data quoted is historical.

The performance data shown represents past performance, which does not guarantee future results. Investment returns and principal value will fluctuate, so that investors’ shares, when sold, may be worth more or less than their original cost. See performance data current to the most recent quarter end, which may be higher or lower than that cited. Performance figures assume that all distributions are reinvested. Performance shown is for the share class indicated only. The performance of other share classes will vary. For performance information current to the most recent month-end, please call 888.814.8180.

The fund’s Morningstar category average is a group of funds with similar investment objectives and strategies and is the equal-weighted return of all funds per category. Morningstar places funds in certain categories based on their historical portfolio holdings.

The inception date for I, A and C Shares was 11/30/2010; Inception for R6 Shares was 11/4/2021.

All returns are quoted as annualized if over 1 year. Returns for the fund’s first year are since fund inception. Calendar year returns do not reflect the maximum sales charge; otherwise, returns would vary.

The Fund’s management has contractually waived a portion of its management fees until June 30, 2024 for I, A, C and R6 Shares. The performance shown reflects the waivers without which the performance would have been lower. Total annual operating expenses before the expense reduction/reimbursement are 2.20%, 2.45%, 3.20% and 2.20% respectively; total annual operating expenses after the expense reduction/reimbursement are 1.25%, 1.50%, 2.25% and 1.00% respectively. 5.75% is the maximum sales charge on purchases of A Shares.

The Fund’s investment adviser has contractually agreed to reduce and/or absorb expenses until at least June 30, 2024 for I, A, C and R6 Shares, to ensure that net annual operating expenses of the fund (excluding front-end and contingent deferred sales loads, leverage, interest and tax expenses, dividends and interest on short positions, brokerage commissions, expenses incurred in connection with any merger, reorganization or liquidation, extraordinary or non-routine expenses and the indirect costs of investing in other investment companies) will not exceed 1.25%, 1.50%, 2.25%, and 1.00%, respectively, subject to possible recoupment from the Fund in future years.

Calendar Year Performance

20222021
Easterly Snow Small Cap Value R6-8.13%-
Morningstar Small Value Category-10.16%31.57%

Performance data quoted is historical.

The performance data shown represents past performance, which does not guarantee future results. Investment returns and principal value will fluctuate, so that investors’ shares, when sold, may be worth more or less than their original cost. See performance data current to the most recent quarter end, which may be higher or lower than that cited. Performance figures assume that all distributions are reinvested. Performance shown is for the share class indicated only. The performance of other share classes will vary. For performance information current to the most recent month-end, please call 888.814.8180.

The fund’s Morningstar category average is a group of funds with similar investment objectives and strategies and is the equal-weighted return of all funds per category. Morningstar places funds in certain categories based on their historical portfolio holdings.

The inception date for I, A and C Shares was 11/30/2010; Inception for R6 Shares was 11/4/2021.

All returns are quoted as annualized if over 1 year. Returns for the fund’s first year are since fund inception. Calendar year returns do not reflect the maximum sales charge; otherwise, returns would vary.

The Fund’s management has contractually waived a portion of its management fees until June 30, 2024 for I, A, C and R6 Shares. The performance shown reflects the waivers without which the performance would have been lower. Total annual operating expenses before the expense reduction/reimbursement are 2.20%, 2.45%, 3.20% and 2.20% respectively; total annual operating expenses after the expense reduction/reimbursement are 1.25%, 1.50%, 2.25% and 1.00% respectively. 5.75% is the maximum sales charge on purchases of A Shares.

The Fund’s investment adviser has contractually agreed to reduce and/or absorb expenses until at least June 30, 2024 for I, A, C and R6 Shares, to ensure that net annual operating expenses of the fund (excluding front-end and contingent deferred sales loads, leverage, interest and tax expenses, dividends and interest on short positions, brokerage commissions, expenses incurred in connection with any merger, reorganization or liquidation, extraordinary or non-routine expenses and the indirect costs of investing in other investment companies) will not exceed 1.25%, 1.50%, 2.25%, and 1.00%, respectively, subject to possible recoupment from the Fund in future years.

Sector Breakdown

Communication Services

3.18% 

Consumer Discretionary

14.45% 

Consumer Staples

5.33% 

Energy

9.22% 

Financials

30.02% 

Health Care

11.89% 

Industrials

7.95% 

Information Technology

11.30% 

Materials

5.19% 

Real Estate

1.47% 

Utilities

0.00% 

View Glossary

Fund Characteristics

Average Market Cap (Billions)

$4.05 

Forward P/E Estimate

9.43 

Price-to-Book

1.52 

PEG Ratio Forecast 12-Month

0.23 

EPS Growth Estimate

2.51% 

LT Debt/Equity

95.07% 

LT Debt/Capital

36.68% 

Active Share

96.57% 

View Glossary

Fund Statistics - 5 Year

Sharpe Ratio

– 

Sortino Ratio

– 

Beta

– 

R-Squared

– 

Information Ratio

– 

View Glossary

Distribution History

Distribution DateDistribution NAVLong-Term Capital GainShort-Term Capital GainReturn of CapitalDividend Income
12/07/2350.72---0.14
12/27/2149.24---0.08

Info


Easterly Investment Partners


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.


2010

Sewickley, PA

Portfolio Manager(s)

Joshua Schachter

Joshua Schachter, CFA

Senior Portfolio Manager
22 Years of Industry Experience


Snow Capital

Phil Greenblatt

Phil Greenblatt, CFA

Portfolio Manager
13 Years of Industry 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 3 4 3 2
# Funds in Category 457 457 426 335

© 2024 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 R6 share class only; other classes may have different performance characteristics.

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For questions or inquiries, please feel free to contact us by completing the form below.

For media inquiries, please contact press@easterlyfunds.com.