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Small Companies, Potential
Smaller companies have more growth potential because they haven’t yet reached their full potential or scale
Combining Distinct Company Types
Seeks three types of companies with distinct objectives: capital growth, limited downside volatility, and idiosyncratic growth
Sub-advised by Schroders
With 200+ years of experience, Schroders actively invests across public and private markets around the globe
Objective: Seeks capital appreciation.
Portfolio Management
Portfolio Manager
8
YRS
MANAGING THIS FUND
13
YRS
AT SCHRODERS
32
YRS
EXPERIENCE IN THIS INDUSTRY
Portfolio Manager
3
YRS
MANAGING THIS FUND
13
YRS
AT SCHRODERS
25
YRS
EXPERIENCE IN THIS INDUSTRY
The portfolio managers are supported by the full resources of Schroders.
Performance
PERFORMANCE %
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an 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.
SI = Since Inception.
Fund Inception: 08/06/1993
Share Class Inception: 9/28/15.
Class SDR-shares performance from 9/28/15 through 10/21/16 reflects the performance, fees, and expenses of R6 Class of the predecessor fund Schroder U.S. Opportunities Fund (the "Predecessor Fund") and, prior to 9/28/15, the performance, fees, and expenses of the Predecessor Fund's Investor Class. If Class SDR fees and expenses were reflected, performance would have differed. SI performance is calculated from 8/6/93.
Characteristics
FUND STATS (as of 5/31/2026)
| Net Assets | $178 million |
|---|---|
| # of Holdings | 82 |
| Beta (3 year) | 0.90 |
| R Squared (3 year) | 0.93 |
| Turnover | 44% |
| Active Share | 94% |
| % in Equities | 97 |
Holdings Characteristics (as of 5/31/2026)
| FUND | Russell 2000 Index | |
|---|---|---|
| Price/Earnings | 19.6x | 27.9x |
| Price/Book | 2.3x | 2.5x |
| Asset Weighted Market Cap (billions) | $7.3 | $7.7 |
| Return on Equity | 6.8% | -4.4% |
| Median Market Cap (billions) | $3.6 | $1.1 |
Top Ten Holdings (%)
(as of 5/31/2026)
| ICU Medical, Inc. | 2.46 |
| Moog, Inc. | 2.04 |
| Semtech Corp. | 1.97 |
| Novanta, Inc. | 1.95 |
| Viavi Solutions, Inc. | 1.91 |
| MACOM Technology Solutions Holdings, Inc. | 1.86 |
| Commvault Systems, Inc. | 1.78 |
| Repligen Corp. | 1.76 |
| Cavco Industries, Inc. | 1.74 |
| Materion Corp. | 1.73 |
| Total Portfolio % | 19.20 |
Market Cap Distribution (%) (as of 5/31/2026)
| Less than $2 billion | 18 | |
| $2 billion - $5 billion | 40 | |
| $5 billion - $10 billion | 25 | |
| Greater than $10 billion | 17 | |
| Not Classified | 0 | |
RETURN CHARACTERISTICS (as of 6/30/2026)
|
Alpha (5 Year)
|
-0.48 |
|
Down Capture (5 Year)
|
92.43 |
|
Information Ratio (5 Year)
|
-0.13 |
|
Sharpe Ratio (5 Year)
|
0.21 |
|
Up Capture (5 Year)
|
91.41 |
Sector Exposure (%)
FUND |
BENCHMARK | UNDERWEIGHT / OVERWEIGHT | |||||
|---|---|---|---|---|---|---|---|
| 3/31/26 | 5/31/26 | 5/31/26 | -8 0 8 | ||||
| Industrials | 30 | 28 | 20 | ||||
| Financials | 17 | 17 | 16 | ||||
| Utilities | 5 | 4 | 3 | ||||
| Consumer Staples | 1 | 2 | 2 | ||||
| Consumer Discretionary | 8 | 7 | 8 | ||||
| Energy | 4 | 5 | 6 | ||||
| Real Estate | 3 | 3 | 5 | ||||
| Health Care | 9 | 10 | 16 | ||||
Based on Global Industry Classification Standard (GICS), which was developed by and is the exclusive property and a service mark of MSCI Inc. (MSCI) and Standard & Poor's, a division of The McGraw-Hill Companies, Inc. (S&P). Excludes cash. May not total to 100% due to rounding and/or pooled vehicle allocations.
Past distributions are not indicative of future distributions.
Insights
Resources
Important Risks: Investing involves risk, including the possible loss of principal. Security prices fluctuate in value depending on general market and economic conditions and the prospects of individual companies. • Small-cap securities can have greater risks, including liquidity risk, and volatility than large-cap securities. • To the extent the Fund focuses on one or more sectors, the Fund may be subject to increased volatility and risk of loss if adverse developments occur. • The Fund's investments may fluctuate in value over a short period of time. • Financially material environmental, social and/or governance (ESG) characteristics are one of several factors that may be considered. The Fund may perform differently from funds that do not integrate ESG into their analysis.
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