International Fund
Investment Objective
Long-term capital appreciation.
Investment Strategy
Under normal market conditions, the Fund invests its assets primarily in non-U.S. equity securities of companies of any size that we believe are undervalued. Equity securities consist of common and preferred stocks. Under normal market conditions, the fund will invest at least 80% of its net assets in securities issued by companies (i) that are headquartered or have their principal place of business outside the U.S., (ii) whose primary trading markets are outside the U.S. or (iii) that have at least 50% of their assets in, or derive at least 50% of their total revenues or profits from, goods or services produced in or sales made in countries outside the U.S.
Key Advantages of Investing
Opportunity
The International Fund invests in a diversified portfolio of non-U.S. equities from a broad market capitalization spectrum.
Disciplined Approach
An actively managed, valuation-centric approach and commitment to a long-term horizon enhances our potential to buy good businesses at compelling valuations.
Experienced Team
The portfolio manager has decades of experience in the international value space and is supported by a disciplined, nimble research team.
Fund Facts
Ticker:
VEITX
CUSIP:
92262L608
Inception Date:
Sept. 30, 2020
Benchmark:
MSCI World ex US
Minimum Purchase:
$2,500
Expense Ratio:
1.15%
Morningstar Overall Rating
★★★★
Rated 4-stars by Morningstar for the period ending 3/31/2024, based on overall and 3-year risk adjusted returns,
out of 696 funds (overall and 3-year) in the Foreign Large Blend category.
Period and Annualized Total Returns (%)
As of TBD
| QTD | YTD | 1 Year | 3 Year | Since Inception | |
|---|---|---|---|---|---|
| Class I | - | - | - | - | - |
| MSCI World ex US | - | - | - | - | - |
Performance data quoted represents past performance. Past performance 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. Investors may obtain performance data current to the most recent month-end by calling 833-399-1001.
Top Ten Holdings (%)
As of TBD
Sector Exposure (%)
As of TBD
| Fund | Index1 |
|---|
1iShares Tr. – Core MSCI International Developed Markets ETF
Current and future portfolio holdings are subject to risk. The security holdings are presented to illustrate examples of the securities that the fund has bought and the diversity of areas in which the funds may invest, and may not be representative of the fund's current or future investments. Portfolio holdings are subject to change and should not be considered investment advice.
Geographic Exposure (%)
As of TBD
Portfolio Statistics
As of 6/30/2022
1Source: FactSet
Risk Statistics (since inception)
As of 6/30/2022
Source: Morningstar
Beta vs. MSCI World Ex US Index
Investors should carefully consider the investment objectives, risks, and charges and expenses of the fund before investing. The prospectus contains this and other information about the fund, and it should be read carefully before investing. Investors may obtain a copy of the prospectus by calling 833-399-1001.
The fund is distributed by Ultimus Fund Distributors, LLC. (Member FINRA).
Standard Deviation measures the volatility of the Fund’s returns. Beta measures the Fund’s sensitivity to market movements.
Sharpe Ratio uses the Fund’s standard deviation and average excess return over the risk-free rate to determine reward per unit of risk.
Portfolio Turnover is calculated by dividing the lesser of purchases or sales of portfolio securities for the fiscal year by the monthly average of the value of the portfolio securities owned by the Fund during the fiscal year.
Weighted Average Market Capitalization is a dollar-value measurement of the size of companies in a portfolio or index. In such a weighting scheme, an average figure is derived from the market capitalizations of each company (their market prices multiplied by the number of shares outstanding) multiplied by their weights in the portfolio or index.
Active Share is a measure of the percentage of stock holdings in a manager’s portfolio that differ from the benchmark index. Active share was calculated using an index ETF.
Active Management Due to the active management of the Fund the Fund could underperform its benchmark index and/or other funds with similar investment objectives and strategies.
Important Risk Information: The VELA International Fund invests in a diversified portfolio of non-U.S. equities from a broad market capitalization spectrum. The fund may invest in non-U.S. securities and U.S. securities of companies domiciled in non-U.S. countries that may experience more rapid and extreme changes in value than a fund that invests exclusively in securities of U.S. companies. These companies may be subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, currency fluctuations, regulatory risk, higher transaction costs, delayed settlement, possible nonU.S. controls on investments, and less stringent investor protection and disclosure standards of U.S. markets.
Past performance is no guarantee of future results. Investing involves risk, including loss of principal. The value of the fund's shares, when redeemed, may be worth more or less than their original cost.
Diversification does not assure or guarantee better performance and cannot eliminate the risk of investment loss
The MSCI World ex USA Index captures large and mid cap representation across 22 of 23 Developed Markets (DM) countries excluding the United States. You cannot invest directly into an index.
Morningstar Disclosures:
© 2024 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (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.
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 Morningstar Rating does not include any adjustment for sales loads. 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. 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.