Nuance Mid Cap Value
Sector Allocation
as of 11/30/2020
GICS Sectors | Nuance Mid Cap Value Composite | Russell Midcap Value Index |
Cash | 7.3 | 0.0 |
---|---|---|
Communication Services | 0.0 | 4.1 |
Consumer Discretionary | 0.0 | 12.2 |
Consumer Staples | 17.4 | 4.1 |
Energy | 0.0 | 3.7 |
Financials | 27.1 | 15.0 |
Health Care | 22.1 | 7.8 |
Industrials | 3.8 | 17.6 |
Information Technology | 3.5 | 9.9 |
Materials | 0.5 | 7.4 |
Real Estate | 9.4 | 10.1 |
Utilities | 8.8 | 8.3 |
Portfolio Characteristics
as of 11/30/2020
Nuance Mid Cap Value Composite | Russell Midcap Value Index | |
Weighted Average Market Cap | 22.3b |
17.3b |
---|---|---|
Median Market Cap | 11.2b |
8.4b |
Price to Earnings (internal and ttm)* | 16.0x |
33.9x |
Price to Earnings (ex-neg earnings) | - | 20.8x |
Dividend Yield | 1.8% | 2.1% |
Return on Equity | 8.2% | 6.4% |
Return on Assets | 2.1% |
1.3% |
Number of Securities | 56 | 695 |
Index statistics are provided by FactSet. The following Composite characteristics are calculated using FactSet data: Weighted Average Market Cap, Median Market Cap (midpoint of market capitalization of the stocks in the portfolio), Dividend Yield (annual dividends relative to share price), Return on Equity (net income divided by shareholder equity), Return on Assets (net income divided by average total assets), P/E (price of a company’s stock relative to its earnings per share). Characteristics for P/E, DY, ROE & ROA use an index aggregation calculation methodology (the index method sums the weighted portfolio value of the numerator and the denominator first, then divides those sums to determine the portfolio and benchmark values). Characteristics calculations use holdings at market close on the stated date, including cash & cash equivalents. The P/E excluding negative earners omits companies with negative earnings from the calculation to provide readers with an additional tool during periods of extreme volatility.
Portfolio Guidelines
Capitalization1 | Mid-Cap |
---|---|
Cash Limits2 | 10.00% |
International Limits3 | 15.00% |
Diversification Limit | 5.00% of Total Assets in any position for 25.00% of the assets |
Convertible and Debt Limits | 10.00% |
Maximum Position | 7.50% |
Industry Constraint4 | 25.00% of Total Assets in any GICS Industry |
Sector Constraints5 | +/-15% Russell Midcap Value Index |
Number of Companies6 | 50 -to- 90 |
Absolute Volatility | Less than S&P 500 Index |
Peer Group | Mid Cap Value |
Primary Benchmark | Russell Midcap Value Index |
Secondary Benchmarks | S&P MidCap 400 Value Index S&P 500 Index |
Tracking Error | Approximately 350-700 bps |
Performance Focus | Absolute Return & Sharpe Ratio vs. Russell Midcap® Value & S&P 500 |
Top 10 Holdings
as of 11/30/2020
Travelers Companies, Inc. |
6.7 |
---|---|
Dentsply Sirona, Inc. | 6.1 |
Equity Commonwealth | 6.0 |
Smith & Nephew PLC Sp ADR | 4.4 |
Northern Trust Corp. | 4.4 |
Beiersdorf AG Unsp ADR | 4.4 |
Sanderson Farms, Inc. | 4.2 |
BDX 6 06/01/23 Pfd | 3.7 |
Cal-Maine Foods, Inc. | 3.4 |
Amphenol Corp. Class A | 3.3 |