CM Advisors Small Cap Value Fund

Fund Overview

Daily Price
as of
06/21/2017

 Price($)(%)
CMOVX$9.37$-0.24-2.50%

Fund Facts
as of 3/31/2017 (subject to change)

Ticker  CMOVX
AUM $47.24 Million
# of Holdings 44
Inception Date 4/15/2011
Min. Initial Investment $2,500 
Advisor CM Fund Advisors

Overview

The Fund seeks long-term growth of capital by investing in small cap equities that we believe have the potential to deliver consistent returns over a long period of time. In constructing the portfolio, we do not rely on any index or model, but seek those securities and sectors which, according to our research and proprietary modeling, are best suited to provide positive absolute returns. Our goal is to purchase these securities as a deep discount to their intrinsic value.

Investment Style

Small Cap Value

Fund Objective

Long-term growth of capital

Investment Strategy

The Fund primarily invests in companies with a market capitalization that is within or below the market capitalization range of the companies in the Russell 2000 Value Index.  This Fund has no load and no 12b-1 fees.

 

Performance

Performance

Quarterly Cumulative

 

Cumulative
Total Returns (%) as of
03/31/17
Quarter YTD 1YR 3YR 5YR 10YR Since
Inception 1

 

CM Advisors Small Cap Value Fund-11.72-11.7226.81-12.2121.39N/A25.36
Russell 2000 Value Index3-0.13-0.1329.3724.6680.5680.6681.42

Quarterly Annualized

 

Average Annualized
Total Returns (%) as of
03/31/17
Quarter YTD 1YR 3YR 5YR 10YR Since
Inception 1

 

CM Advisors Small Cap Value Fund-11.72-11.7226.81-4.253.95N/A3.86
Russell 2000 Value Index3-0.13-0.1329.377.6212.546.0910.51

Monthly Annualized

 

Monthly
Total Returns (%) as of
05/31/17
1 Month YTD 1YR 3YR 5YR 10YR Since
Inception 1

 

CM Advisors Small Cap Value Fund-8.00-19.703.81-6.483.77N/A2.17
Russell 2000 Value Index3-3.11-2.8621.007.3413.675.319.71
  1. Inception date for CM Advisors Small Cap Value Fund is April 15, 2011
  2. Gross expense ratio for CM Advisors Small Cap Value Fund is 1.60%.  Net expense ratio for CM Advisors Small Cap Value fund is 1.29%.
  3. The Russell 2000 Value Index measures the performance of the small-cap value segment of the U.S. equity universe. It includes those Russell 2000 Index companies with lower price-to-book ratios and lower forecasted growth values. The Russell 2000 Value Index is constructed to provide a comprehensive and unbiased barometer for the small-cap value segment. The Index is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set and that the represented companies continue to reflect value characteristics. It is not possible to invest directly in the index.

For performance information current to the most recent month end, call Shareholder Services at 1-888-859-5856.  Performance data quoted represents past performance. Past performance does not guarantee future results. All performance assumes reinvestment of dividends and capital gains. The investment return and principal value of an investment will fluctuate so that investors’ shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. The annual returns of the classes of shares will differ only to the extent that the classes do not have the same expenses or inception dates.

The Fund imposes a 1% redemption fee on shares redeemed within 180 days of their purchase. See the Fund’s current prospectus for more information on the Fund’s redemption fee. The performance information above does not reflect the imposition of the redemption fee.  The Advisor has entered into an Expense Limitation Agreement with the Small Cap Value Fund under which it has agreed until July 1, 2017 to waive its fees and to reimburse other expenses of the Fund, if necessary, in an amount that limits the Fund’s annual operating expenses (exclusive of interest, taxes, brokerage commisions, acquired fund fees and expenses, extraordinary expenses and payments, if any, under a Rule 12b-1 Plan) to not more than 1.25% of its average daily net assets. The Expense Limitation Agreement cannot be terminated prior to July 1, 2015 without the approval of the Board.

Risk

Risk

Performance in Down Quarters
as of 3/31/17 (subject to change)

Quarter End CMOVX(%) Russell 2000 Value ADJ(%) Spread (%)
3/31/2017 -11.72 -0.13 11.59
12/31/2015 -4.54 2.88 -7.42
9/30/2015 -19.47 -10.73 -8.74
6/30/2015 3.90 -1.20 5.10
3/31/2015 -8.80 1.98 -10.78
12/31/2014 -3.72 9.40 -13.12
9/30/2014 -11.78 -8.58 -3.20
6/30/2012 -5.11 -3.01 -2.10
9/30/2011 -19.10 -21.47 2.37

 

Upside / Downside Capture 
as of 3/31/2017 (subject to change)

Date Up Down
Five Year ↑90.92 ↓175.42
Three Year ↑85.12 ↓223.61
One Year ↑175.35 ↓374.52

Upside and Downside Capture Ratios show you whether a given fund has outperformed--gained more or lost less than a broad market benchmark during periods of market strength and weakness, and if so, by how much. Upside capture ratios for funds are calculated by taking the fund’s monthly return during months when the benchmark had a positive return and dividing it by the benchmark return during that same month. Downside capture ratios are calculated by taking the fund’s monthly return during the periods of negative benchmark performance and dividing it by the benchmark return.

5 Year Standard Deviation

Standard Deviation
as of 3/31/2017 (subject to change)

Standard deviation is a statistical measure in which a composite's total return has varied over time. The greater the standard deviation, the greater a composite's volatility. Conversely, the lower the standard deviation the lower the composite's volatility.

  1 Year 3 Years 5 Years Since Inception
CM Advisors Small Cap Value Fund 32.84 26.49 21.95 22.23
Russell 2000 Value ADJ 13.81 15.16 13.92 15.73

*Since the inception of this strategy is April 15, 2011, 10-year annualized data is not available at this time.

 

Composition

Composition

Top 10 Holdings
as of 3/31/2017 (subject to change)

Holdings Fund (%)
Pioneer Energy Services Corp 6.95
DMC Global Inc 5.84
Allegheny Technologies Inc 5.70
Layne Christensen Company 5.49
Orion Group Holdings Inc 4.65
Synalloy Corp 4.34
Pico Holdings Inc 4.27
Era Group Inc 3.90
Patterson-Uti Energy Inc 3.80
Manitowoc Company Inc 3.44
Top 10 as % of Net Assets 48.38

 

 

Sector Breakdown 
as of 3/31/2017 (subject to change)

Sector Fund Index
Consumer Discretionary 1.95 9.64
Consumer Staples 0.00 2.75
Energy 32.40 5.67
Financials 4.27 32.40
Health Care 0.00 4.55
Industrials 38.33 12.84
Information Technology 2.87 10.57
Materials 14.61 4.83
Real Estate 2.56 9.99
Telecommunication Services 0.00 0.66
Utilities 0.00 6.11
Cash & Cash Equivalents 3.01 0.00

 

 

Fund Characteristics
as of 3/31/17

Characteristic Value
Weighted Average Market Cap (in Millions) $986.00
Median Market Cap (in Millions) $355.00
Price / Earnings Ratio (Trailing 12 mo.) 12.99
Price / Earnings Ratio (Forward 12 mo) 46.33
Alpha 2.56
Beta 1.00
Turnover Rate 22.03%
Price to Sales Ratio 0.75
Enterprise Value to Sales Ratio 1.15
Price to Book 1.10
Total Debt to Capital (%) 36.98

What do these terms mean?
(roll over any term for a brief explanation)

 

Distributions

Distributions

2016

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
 9/30/2016  $0.0402      $10.10
 12/30/2016  $0.0746      $12.03

2011 - 2015 (Click Any Year to View)

2011

2011 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
12/30/2011 $0.0113 $0.1186    $8.97 

2012

2012 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
12/31/2012 $0.1383 $0.1412    $10.35 

2013

2013 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
12/31/2013   $0.0392 $0.5982 $12.47 

2014

2014 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
12/31/2014     $0.6431 $10.68 

2015

2015 Distributions

Record Date Income Dividend Short Term Cap. Gain Long Term Cap. Gain Reinvest NAV
12/30/2015  $0.0496     $7.73

Literature

Literature

Factsheets

Reports

For Retirement Accounts

Fund Information by Share Class

Class I Shares

Investment in the Fund is subject to investment risks, including, without limitation, market risk, interest rate risk, management style risk, business and sector risk, small company risk, non-diversified fund risk, foreign securities risk, bond interest rate risk and credit risk. For more information about the Fund, including the Fund's objectives, charges, expenses and risks (including more information about the risks listed above), please read the prospectus.

Performance data quoted represents past performance. Past performance does not guarantee future results. All performance assumes investment of dividends and capital gains. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost.  Current performance may be lower or higher than the performance data quoted. For performance information current to the most recent month end, call 1-888-859-5856.  While Fund performance is compared to an index, it is not possible to invest in an index.

An investor should consider the investment objectives, risks, and charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available by calling 1-800-664-4888 or writing the advisor at 805 Las Cimas Parkway, Suite 430, Austin, Texas 78746. You may also call the Fund directly at 1-888-859-5856. The prospectus should be read carefully before investing.

Russell 2000® Value Index measures the performance of those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values.It is not possible to invest directly in the index.

The information presented on this page is not an offer to sell or a solicitation of an offer to purchase the Fund.

Distributor: Ultimus Fund Distributors, LLC. 225 Pictoria Drive, Suite 450, Cincinnati, Ohio 45246. Phone number 1-888-859-5856.

© 2010 CM Fund Advisors