Davenport’s Concentrated 5-Star Small and Mid Cap Funds
|Davenport Small Cap Focus Fund (DSCPX)||Davenport Equity Opportunities Fund* (DEOPX)|
|Small Cap Core||Mid Cap Core|
Overall Morningstar rating out of 601 Small Cap Blend funds as of 10/31/2021 based on risk-adjusted return
Overall Morningstar rating out of 361 Mid Cap Blend funds as of 10/31/2021 based on risk-adjusted return
|DSCPX Fact Sheet||DEOPX Fact Sheet|
|3 C’s of Small Cap||3 C’s of Mid Cap|
|DSCPX Risk-Reward Profile||Intuit – A DEOPX Case Study|
|Request a DSCPX Institutional Pitch Book||Request a DEOPX Institutional Pitch Book|
*Equity Opportunities also available in SMA format.
Morningstar Disclosure: As of 10/31/2021. 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 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.
DSCPX was rated against the following numbers of U.S.-domiciled Small Cap Blend funds over the following time period(s): 601 funds in the last three years and 529 funds in the last five years. With respect to these Small Cap Blend funds, DSCPX received a Morningstar Rating of five stars for the three-year period and five stars for the five-year period.
DEOPX was rated against the following numbers of U.S.-domiciled Mid Cap Blend funds over the following time periods: 361 funds in the last three years, 313 funds in the last five years, and 206 funds in the last ten years. With respect to these Mid Cap Growth funds, DEOPX received a Morningstar Rating of five stars, five stars and five stars for the three-, five- and ten-year periods, respectively.
The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Morningstar does not provide ratings for the 1 year period. The Morningstar Ownership Zone™ provides detail about a portfolio’s equity investment style by showing the range of stock sizes and styles. A portfolio’s Ownership Zone™ is derived by plotting each stock in the fund’s portfolio within the proprietary Morningstar Style Box™. The shaded area represents the center 75% of the fund’s assets, and it provides an intuitive visual representation of the area of the market in which the fund invests. A “centroid” plot in the middle of the Ownership Zone represents the weighted average of all the fund’s holdings. A fund that is concentrated will have a small ownership zone relative to the area of the style box, and broadly diversified fund will have an ownership zone that stretches across many sizes and style. Over a period of time, the shape and location of a fund’s ownership zone may vary. ©2021 Morningstar, Inc. 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.