Mid-Caps have historically delivered stronger returns than both large- and small caps but remain an under-utilized asset class
Product Facts
Ticker Symbol | NMCAX |
CUSIP | 92913K884 |
Inception Date | August 20, 1998 |
Dividends Paid | Annually |
Min. Initial Investment | $1,000.00 |
About this Product
- Invests primarily in stocks of mid-sized U.S. companies with above average prospects for growth and which fall within the range of companies in the Russell Midcap® Growth Index
- Fundamentals-based stock selection seeks companies with positive business momentum, market recognition, and valuations with upside potential
- Provides investors with access to the underutilized MidCap asset class
Investment Objective
The Fund seeks long-term capital appreciation.
Performance
Average Annual Total Returns %
As of October 31, 2024
As of September 30, 2024
Most Recent Month End | YTD | 1 YR | 3 YR | 5 YR | 10 YR | Expense Ratios | |
---|---|---|---|---|---|---|---|
Gross | Net | ||||||
Net Asset Value | +8.12 | +25.91 | -2.21 | +10.38 | +9.75 | 1.25% | 1.25% |
With Sales Charge | +1.90 | +18.71 | -4.12 | +9.08 | +9.10 | ||
Net Asset Value | +7.17 | +19.41 | -0.75 | +10.46 | +9.93 | 1.25% | 1.25% |
With Sales Charge | +1.00 | +12.52 | -2.69 | +9.15 | +9.28 | ||
Russell Midcap Index | +14.02 | +35.39 | +3.55 | +10.94 | +9.80 | — | — |
Russell Midcap Growth Index | +14.88 | +38.67 | +0.61 | +11.46 | +11.19 | — | — |
Russell Midcap Index | +14.63 | +29.33 | +5.75 | +11.30 | +10.19 | — | — |
Russell Midcap Growth Index | +12.91 | +29.33 | +2.32 | +11.48 | +11.30 | — | — |
Inception Date - Class A:August 20, 1998
Current Maximum Sales Charge: 5.75%
The performance quoted represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance information shown. The investment return and principal value of an investment in the Portfolio will fluctuate, so that your shares, when redeemed, may be worth more or less than their original cost. See above "Average Annual Total Returns %" for performance information current to the most recent month-end.
Returns for the other share classes will vary due to different charges and expenses. Performance assumes reinvestment of distributions and does not account for taxes.
Total investment return at net asset value has been calculated assuming a purchase at net asset value at the beginning of the period and a sale at net asset value at the end of the period; and assumes reinvestment of dividends, capital gain distributions and return of capital distributions/allocations, if any, in accordance with the provisions of the dividend reinvestment plan. Net asset value equals total Fund assets net of Fund expenses such as operating costs and management fees. Total investment return at net asset value is not annualized for periods less than one year.
The Russell Midcap Growth Index is an unmanaged index that measures the performance of those companies included in the Russell Midcap Index with relatively higher price-to-book ratios and higher forecasted growth values. The Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Investors cannot invest directly in an index.
Past performance does not guarantee future results.
Yields
As of February 28, 2018
SEC 30-Day Yield (Unsubsidized) SEC 30-Day Yield (Unsubsidized): A standardized yield calculation created by the SEC, it reflects the income earned during a 30-day period, after the deduction of the fund's gross expenses. Negative 30-Day SEC Yield results when accrued expenses of the past 30 days exceed the income collected during the past 30 days. | -0.33 |
SEC 30-Day Yield (Subsidized) SEC 30-Day Yield (Subsidized): A standardized yield calculation created by the SEC, it reflects the income earned during a 30-day period, after the deduction of the fund's net expenses (net of any expense waivers or reimbursements). | -0.33 |
Returns-Based Characteristics
As of October 31, 2024
3 Year | 5 Year | 10 Year | |
---|---|---|---|
Alpha Alpha: A measure of risk-adjusted performance; alpha reflects the difference between a portfolio's actual return and the return that could be expected give its risk as measured by beta. | -3.15 | -0.36 | -0.67 |
Beta Beta: The sensitivity of a portfolio's returns to changes in the return of the market as measured by the index or benchmark that represents the market. A portfolio with a beta of 1.0 behaves exactly like the index. A beta less than 1.0 suggests lower risk than the index, while a beta greater than 1.0 indicates a risk level higher than the index. | 0.93 | 0.92 | 0.92 |
R2 R2: The proportion of the variation in a portfolio's returns that can be explained by the variability of the returns of an index. High R-squared (close to 1.0) is usually consistent with broad diversification. | 0.96 | 0.95 | 0.96 |
Sharpe Ratio Sharpe Ratio: A risk-adjusted measure calculated using standard deviation and excess return to determine reward per unit of risk. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. | -0.31 | 0.39 | 0.47 |
Standard Deviation Standard Deviation: A measure of the degree to which an individual probability value varies from the distribution mean. The higher the number, the greater the risk. | 19.84 | 20.37 | 16.97 |
Growth of a $10,000 Investment
For the period 11/30/2014 through 10/31/2024
Ending Value: $25,348.00
The performance quoted in the "Growth of a $10,000 Investment" chart represents past performance. Performance shown is without sales charges; had sales charges been deducted, performance would have been less. Ending value includes reinvestment of distributions.
Portfolio
Portfolio Statistics
As of October 31, 2024
Net Assets millions Net Assets: The per-share dollar amount of the fund, calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding. | $692.6 |
Number of Holdings Number of Holdings: Number of Holdings in the investment. | 76 |
P/E next 12 months P/E: P/E (next 12 months) calculates the price of a stock divided by its earnings per share. | 38.25 |
P/B trailing 12 months P/B: Price to book ratio (trailing 12 month) calculates the ratio of a stock’s price to its book value. | 9.54 |
Weighted Average Market Cap millions Weighted Average Market Cap: Weighted Average Market Capitalization is the value of a corporation as determined by the market price of its issued and outstanding common stock. | $30,736.6 |
EPS Growth (3-5 Year Estimate) EPS Growth (3-5 Year Estimate): The portion of a company's profit allocated to each outstanding share of common stock. EPS growth serves as an indicator of a company's profitability. | 17.99 |
Active Share Active Share: Active Share is a measure of the percentage of stock holdings in a manager's portfolio that differ from the benchmark index. | 67.17 |
Price to Cash Flow Price to Cash Flow: The ratio of a stock’s price to its cash flow per share. The price-to-cash flow ratio is an indicator of a stock’s valuation | 32.26 |
ROA % ROA: ROA is an indicator of how profitable a company is relative to its total assets. ROA gives an idea as to how efficient management is at using its assets to generate earnings. | 7.05 |
Total |
Top Holdings
% of Total Investments as of September 30, 2024
Trade Desk, Inc. | 3.00 |
Monolithic Power Systems, Inc. | 2.98 |
Datadog Inc | 2.79 |
Tradeweb Markets, Inc. | 2.44 |
Tractor Supply Company | 2.23 |
Tetra Tech, Inc. | 2.17 |
Gartner, Inc. | 2.16 |
Waters Corporation | 2.04 |
Verisk Analytics Inc | 1.99 |
AppLovin Corp. | 1.99 |
Total | #,###.2 |
Sector Weightings
% of Total Investments as of September 30, 2024
INFORMATION TECHNOLOGY | 25.28 |
INDUSTRIALS | 19.38 |
HEALTH CARE | 15.26 |
CONSUMER DISCRETIONARY | 13.45 |
FINANCIALS | 10.80 |
COMMUNICATION SERVICES | 4.55 |
ENERGY | 3.34 |
CONSUMER STAPLES | 2.92 |
MATERIALS | 2.21 |
REAL ESTATE | 1.90 |
UTILITIES | 0.91 |
Total | #,###.2 |
Information provided is not a recommendation to buy or sell any security. Portfolio data is subject to daily change.
Ratings
Distributions
Payment Frequency: Annually
Ex-Date
Ex-Date: Date on which a stock begins trading without the benefit of the dividend. Typically, a stock’s price moves up by the dollar amount of the dividend as the ex-dividend date approaches, then falls by the amount of the dividend after that date. | Payable Date
Payable Date: Date on which a declared stock dividend or a bond interest payment is scheduled to be paid. | Record Date
Record Date: Date on which a shareholder must officially own shares in order to be entitled to a dividend. After the date of record, the stock is said to be ex-dividend. | Amount | |
---|---|---|---|---|
Long-Term Capital Gain | 12/12/2023 | 12/13/2023 | 12/11/2023 | $0.172800 |
Totals: $0.172800 |
Income Dividend: Payout to shareholders of interest, dividends, or other income received by the Fund, net of operating expenses. By law, all such income must be distributed to shareholders, who may choose to take the money in cash or reinvest it in more shares of the Fund.
Short-Term Capital Gain: The profit realized from the sale of securities held for less than one year.
Long-Term Capital Gain: Gain on the sale of a security where the holding period was 12 months or more and the profit was subject to the long-term capital gains tax.
Investment Team
Disclosures
Principal Risks
All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. You could lose money on your investment and any of the following risks, among others, could affect investment performance. The following principal risks are presented in alphabetical order which does not imply order of importance or likelihood: Company; Currency; Derivative Instruments; Environmental, Social, and Governance (Equity); Foreign (Non-U.S.) Investments; Growth Investing; Investment Model; Liquidity; Market; Market Disruption and Geopolitical; Mid-Capitalization Company; Other Investment Companies; Real Estate Companies and Real Estate Investment Trusts; Securities Lending; Value Investing. Investors should consult the Fund’s Prospectus and Statement of Additional Information for a more detailed discussion of the Fund’s risks.
The Russell Midcap Growth Index is an unmanaged index that measures the performance of those companies included in the Russell Midcap Index with relatively higher price-to- book ratios and higher forecasted growth values. The Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Russell 1000 Index measures the performance of the large-cap segment of the U.S. equity universe. It is a subset of the Russell 3000 Index and includes approximately 1,000 of the largest securities based on a combination of the market cap and current index membership. Russell 2000 Index measures the performance of the smallcap segment of the U.S. equity universe. The Russell 2000 Index is a a subset of the Russell 3000 Index. It includes approximately 2,000 of the smallest securities based on a combination of the market cap and current index membership. Investors cannot invest directly in an index.
The Morningstar® Analyst RatingTM is not a credit or risk rating, but a subjective evaluation performed by the analysts of Morningstar, Inc. Morningstar evaluates funds based on five key pillars (process, performance, people, parent and price). Morningstar’s analysts use this evaluation to identify funds they believe are more likely to outperform over the long term on a risk adjusted basis. Analysts consider quantitative and qualitative factors and the weighting of each pillar may vary. The Analyst Rating reflects an overall assessment and is overseen by Morningstar’s Analyst Rating Committee. The analyst rating scale is five-tiered, with three positive ratings (Gold, Silver, Bronze), a Neutral Rating and a Negative Rating, with Gold being the highest rating and Negative being the lowest rating. Analyst ratings are reevaluated at least every 14 months. For more detailed information about Morningstar’s Analyst Rating, including its methodology, please go to http://www.morningstar.com/InvGlossary/morningstar-analyst-rating-for-funds.aspx. The Morningstar Analyst Ratings should not be used as the sole basis in evaluating a mutual fund and are based on Morningstar’s current expectations about future events. Morningstar does not represent ratings as a guarantee. Analyst Ratings involve unknown risks and uncertainties which may cause Morningstar’s expectations not to occur or to differ significantly.
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