Explore the Small Cap Fund
- Performance & NAV
- Morningstar Ratings
- Objective & Strategy
- Portfolio Characteristics
- Distribution History
- How to
- Fund Documents
PERFORMANCE & NAV
Average Annualized Returns (%)
|As of 06/30/2020|
|FUND/INDEX||1 YR||3 YR||5 YR||SINCE INCEPTION|
|Mairs & Power Small Cap Fund2||-11.96||-0.76||4.15||11.79|
|S&P Small Cap 600 Index3||-11.29||0.56||4.48||10.75|
|Russell 2000 TR Index4||-6.63||2.01||4.29||10.07|
|Morningstar Small Blend Category5||-11.47||-0.88||2.10||-|
Calendar Year Returns (%)
|Mairs & Power Small Cap Fund2||21.13||-6.91||7.64||27.27||-4.68||6.73||38.75||30.60|
|S&P Small Cap 600 Index3||22.78||-8.48||13.23||26.56||-1.97||5.76||41.31||16.33|
|Russell 2000 TR Index4||11.25||-11.01||14.65||21.31||-4.41||4.89||38.82||16.35|
|As of 08/03/2020: NAV - Daily Closing Price|
|Small Cap Fund||MSCFX||$23.29|
|As of 4/30/2020 Prospectus Expense Ratio|
|1.05% annualized as of 12/31/19|
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 of the Fund may be lower or higher than the performance quoted. Performance as of the most recent month end is available by calling 800-304-7404.
2Performance shown includes the reinvestment of dividend and capital gain distributions, but does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.
3S&P Small Cap 600 TR Index is an index of small-company stocks managed by Standard and Poor’s that covers a broad range of small cap stocks in the U.S. The index is weighted according to market capitalization and covers about 3-4% of the total market for equities in the U.S. It tracks both the capital gains of a group of stocks over time and assumes that any cash distributions, such as dividends, are reinvested back in the index. It is not possible to invest directly in an index
4The Russell 2000 TR Index is a small-cap stock market index of the smallest 2,000 stocks in the Russell 3000 Index.
5Morningstar Small Blend Category are stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small cap. The blend style is assigned to portfolios where neither growth nor value characteristics predominate.
It is not possible to invest directly in an index.
MORNINGSTAR RATINGS & RANKINGS
|As of 6/30/2020 among Small Blend Funds based on risk-adjusted returns.|
|OVERALL||1 YR||3 YR||5 YR||Since Inception|
|Funds in Category||615||-||615||495||-|
|Funds in Category||-||635||627||583||493|
|As of 6/30/2020:|
|Style||Small Cap Core|
|Net Asset Value8||$22.27|
|Wtd. Ave. Market Cap9||$3.3B|
|30-Day SEC Yield10||0.91%|
|Total Net Assets||$316M|
|Min. Initial Investment||$2,500|
|Min. Initial IRA Investment||$1,000|
|Capital Gains Distributions||Annual|
OBJECTIVE & STRATEGY
Seeks above-average, long-term appreciation.
|As of 6/30/2020:|
|SECTOR WEIGHTS||% PORTFOLIO|
|TOP 10 HOLDINGS||% PORTFOLIO|
|Wintrust Financial Corp.||4.0|
|Cabot Microelectronics Corp.||3.5|
|Cullen/Frost Bankers Inc.||3.4|
|CoreSite Realty Corp.||3.1|
|Glacier Bancorp Inc.||3.1|
Holdings in the portfolio are subject to change without notice and may or may not represent current or future portfolio composition. The mention of specific securities is not intended as a recommendation or an offer of a particular security nor is it intended to be a solicitation for the purchase or sale of any security
The Mairs & Power Small Cap Fund declares and pays dividend income annually in December. If any capital gains are realized during the year, the Fund will distribute the net gains in December toward the end of the month. For 2020 the payable date is December 15, 2020.
|RECORD DATE|| EX-DIVIDEND PAYABLE/REINVEST|
|REINVEST NAV||DIVIDEND PER SHARE|| SHORT-TERM CAPITAL|
| LONG-TERM CAPITAL|
How to Invest
Existing shareholders: You can add to your current investment or open a new account in any of the Mairs & Power mutual funds by logging in to My Fund Account, calling Shareholder Services at 800-304-7404, or mailing your application and investment to the addresses below.
New investors working with financial advisors: Your financial advisor can open an account for you on most platforms.
New direct investors: You can open a new account by
For regular mail delivery:
U.S. Bank Global Fund Services
P.O. Box 701
Milwaukee, WI 53201-0701
For express and overnight mail delivery:
U.S. Bank Global Fund Services
615 East Michigan Street
Milwaukee, WI 53202
|MINIMUM INVESTMENT AMOUNTS|
|New IRA account||$1,000|
|Subsequent IRA investments||$100|
APPLICATIONS / MAINTENANCE
See legend above
MARKET CAP ALLOCATION
All investments have risks. The Fund is designed for long-term investors. Equity investments are subject to market fluctuations and the Fund’s share price can fall because of weakness in the broad market, a particular industry or specific holdings. Investments in small and mid-cap companies generally are more volatile. International investing risks include among others political, social or economic instability, difficulty in predicting international trade patterns, taxation, and foreign trading practices and greater fluctuations in price than U.S. corporations. The Fund may invest in initial public offerings by small cap companies, which can involve greater risks than investments in companies which are already publicly traded.
Morningstar Small Blend Category, as defined by Morningstar are stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small cap. The blend style is assigned to portfolios where neither growth nor value characteristics predominate.
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 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 receives 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. 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 rating formula seems to give the most weight for the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
The Morningstar Rankings represent a fund’s total-return rank relative to all funds that have the same Morningstar Category. The highest percentile rank is 1 and the lowest is 100. It is based on Morningstar total return, which includes both income and capital gains or losses and is not adjusted for sales charges or redemption fees.
© 2019 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. 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.
1No load/Sales charge: You pay no sales charge for the purchase or sale of Fund shares and no 12b-1 marketing fees. You will, however, incur expenses for investment advisory, management and administrative services, which are included in annual fund operating expenses.
5Turnover ratio: The turnover ratio or turnover rate is the percentage of a mutual fund or other portfolio’s holdings that have been replaced in a given year (calendar year or whatever 12-month period represents the fund’s fiscal year).
6Active share: A measure of the percentage of stock holdings in a manager’s portfolio that differs from the benchmark index. Typically, managers with high Active Share outperform their benchmark indexes and Active Share tends to predict fund performance.
7Sharpe ratio: A measure that indicates the average return minus the risk-free return divided by the standard deviation of return on an investment.
8Net Asset Value (NAV) Per Share.
9Weighted average market capitalization is determined by multiplying the current market price by the number of outstanding shares and then taking an average to determine weighting.
1030-day SEC yield reflects the dividends and interest earned during the period after the deduction of the Fund's expenses. It may help investors estimate income, expressed as a percentage.
Upper Midwest includes Minnesota, Illinois, Iowa, Wisconsin, North Dakota and South Dakota.
Capitalization categories as defined by S&P Midcap as of 6/30/2019: Mid Cap - greater than $4.43581 Billion; Small Cap - $4.44B to $32.01M; Micro Cap - less than $32.01M.