Waddell & Reed Advisors Value Fund
- $14.93 NAV as of 3/24/2017
- ($0.03) / 0.20% Daily NAV Change
- 1.98% YTD (NAV)
Finding opportunity in value
- Focused approach
- Focuses on long-term appreciation by seeking out companies that are undervalued relative to their perceived longer-term potential.
- Experienced management
- Manager has more than 20 years of industry experience and a keen insight into the value segment of the equities market.
- Potential benefits
- Offers portfolio diversification with exposure to the value sector of the market. Diversification cannot ensure a profit or protect against loss in a declining market.
Morningstar Style Box
Matthew T. Norris, CFA
- Waddell & Reed Investment Management Company
- 13 Years with Fund
- 25 Years in Industry
Matthew T. Norris is a Senior Vice President of Waddell & Reed Investment Management Company. Mr. Norris received a BS in cellular biology in 1986 from the University of Kansas. He earned an MBA from the University of Nebraska in 1992. Before joining Waddell & Reed, Mr. Norris was affiliated with Advantus Capital Management, Inc. from 1997 to 2003. He joined Advantus as an equity analyst and was appointed a large cap value portfolio manager in 2000. Prior to joining Advantus, he was an equity analyst and portfolio manager for Norwest Investment Management, Inc. from 1994 to 1997. Mr. Norris joined Waddell & Reed as a senior vice president and portfolio manager in July 2003. He also served as director of equity research from 2005 to 2010. Mr. Norris is currently portfolio manager of the Waddell & Reed Advisors Value Fund and large cap value institutional accounts. He is a Chartered Financial Analyst (CFA), a member of the Kansas City CFA Society and a member of the Finance Advisory Board for the University of Kansas School of Business.
Growth of a $10,000 Investment
Assumes an investment over 10 years or life of the share class, reinvestment of dividends and capital gains, and does not include the effect of sales charges or taxes.
Daily Prices as of 3/24/2017
|Net Asset Value (NAV)||$14.93|
|Daily NAV Change ($)||($0.03)||0.20%|
|Weekly NAV Change ($)||$-0.18||-1.19%|
|Public Offering Price (POP)||$15.84|
|Fund Type||Domestic Equity|
|Fiscal Year End||June|
|Fund Assets (as of 2/28/2017)||$842.0 mil|
|Total Equity Holdings (as of 2/28/2017)||39|
|Total Holdings (as of 2/28/2017)||46|
|Portfolio Turnover Rate (as of 12/31/2016)||24%|
|Lipper Category||Large Cap Value Funds|
|Morningstar Category||Large Value|
|Benchmark||Russell 1000 Value TR USD|
Data quoted is past performance and current performance may be lower or higher. Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.
Performance at NAV does not include the effect of sales charges, if it had, performance shown would be lower. Class A shares, including sales charges, reflects the maximum applicable front-end sales load.
Monthly Rates of Return
|Fund with 5.75% sales charge||-1.74%||18.74%||4.85%||10.74%||5.42%||6.26%|
|Fund at NAV||4.23%||26.01%||6.96%||12.05%||6.04%||6.65%|
|Russell 1000 Value TR USD||4.33%||29.13%||9.90%||14.02%||6.20%||6.96%|
|Lipper Large Cap Value Funds||4.43%||27.87%||8.19%||12.36%||5.51%||6.51%|
Quarterly Rates of Return
|Fund with 5.75% sales charge||4.70%||4.70%||3.51%||12.10%||4.98%||6.05%|
|Fund at NAV||11.05%||11.05%||5.57%||13.43%||5.61%||6.44%|
|Lipper Large Cap Value Funds||14.64%||14.64%||6.77%||13.28%||5.03%||6.26%|
|Russell 1000 Value TR USD||17.34%||17.34%||8.59%||14.80%||5.72%||6.75%|
Calendar Year Return
|Russell 1000 Value TR USD||17.51||32.53||13.45||-3.83||17.34|
Morningstar Ratings as of 2/28/2017
|Ratings are based on risk-adjusted returns|
|Overall out of 1090|
|3 Year out of 1090|
|5 Year out of 940|
|10 Year out of 682|
Lipper Ranking through 2/28/2017
|Rankings are based on average annual total returns, but do not consider sales charges.|
Expense Ratios as of 10/31/2016
5-Year Standard Deviation as of 2/28/2017
|Russell 1000 Value TR USD||10.52|
5-Year MPT* Statistics as of 2/28/2017
|*Modern Portfolio Theory|
Historical Prices Inception 12/15/2000
Historical Distributions Inception 12/15/2000
|12/8/2016||$0.375||Long: $0.000 Short: $0.000||$14.66||12/8/2016|
|12/10/2015||$0.0479||Long: $1.861 Short: $0.278||$13.55||12/10/2015|
|12/11/2014||$0.0517||Long: $1.262 Short: $0.447||$16.1||12/11/2014|
|12/12/2013||$0.0423||Long: $0.778 Short: $0.066||$15.67||12/12/2013|
|12/13/2012||$0.1466||Long: $0.000 Short: $0.000||$12.74||12/13/2012|
The table includes the daily prices at NAV (net asset value) for the history of this fund's selected share class. NAV is the amount per share you would receive if you sold shares that day.
Top 10 Equity Holdings as a % of net assets 2/28/2017
|JPMorgan Chase & Co.||JPMorgan Chase & Co. (JPMorgan Chase) is a financial holding company.||5.51%|
|Citigroup, Inc.||Citigroup Inc. (Citigroup) is a global diversified financial services holding company. Citigroup businesses provide consumers, corporations, governments and institutions with a range of financial products and services.||4.04%|
|Synchrony Financial||Synchrony Financial operates as a consumer financial services company in the U.S.||3.67%|
|Capital One Financial Corp.||Capital One Financial Corporation operates as the bank holding company, provides various financial products and services to consumers, small businesses, and commercial clients in the United States, Canada, and the United Kingdom.||3.22%|
|Marathon Petroleum Corp.||Marathon Petroleum Corporation (MPC) is a petroleum product refiner, transporter and marketer in the United States. The Company operates in three segments: Refining & Marketing, Speedway and Pipeline Transportation.||3.15%|
|Dow Chemical Co. (The)||The Dow Chemical Company engages in the manufacture and sale of chemicals, plastic materials, agricultural, and other specialized products and services worldwide.||3.13%|
|Duke Energy Corp.||3.10%|
|Western Digital Corp.||Western Digital Corporation, through its subsidiaries, develops, manufactures, and sells storage products and solutions that enable people to create, manage, experience, and preserve digital content.||3.07%|
|Energy Transfer Partners L.P.||Energy Transfer Partners, L.P. engages in the natural gas midstream, and intrastate transportation and storage businesses in the U.S.||3.05%|
|American International Group, Inc.||American International Group, Inc. (AIG) is an international insurance company with customers in over 130 countries. The Company serves commercial, institutional, individual customers through property-casualty networks of any insurer, and provides life insurance, retirement services in the U.S.||3.00%|
Total Portfolio Holdings
as a % of equity assets as of 2/28/2017
|Median Market Cap (as of 2/28/2017)||$32.7 bil|
Top 10 Industry Allocation
as a % of Equity Holdings as of 2/28/2017
|Other Diversified Financial Services||9.9%|
|Oil & Gas Storage & Transportation||8.3%|
|Managed Health Care||5.8%|
|Oil & Gas Refining & Marketing||3.3%|
as a % of equity assets as of 2/28/2017
as a % of net assets as of 2/28/2017
|Domestic Common Stock||89.15%|
|Foreign Common Stock||4.93%|
|Cash and Cash Equivalents||3.55%|
Equity Country Allocation
as a % of equity assets as of 2/28/2017
Total Portfolio HoldingsUpdated quarterly, upon availability.
Risk Factors: The value of the Fund’s shares will change, and you could lose money on your investment. The value of a security believed by the Fund’s manager to be undervalued may never reach what the manager believes to be its full value, or such security’s value may decrease. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Not all funds or fund classes may be offered at all broker/dealers. These and other risks are more fully described in the Fund’s prospectus.
Stylebox: The Morningstar Equity Style Box reveals a fund's investment strategy by displaying the fund's investment style and the market capitalization of the stocks owned.
Index Description: Russell 1000 Value is an unmanaged index comprised of securities that represent the large cap sector of the stock market. It is not possible to invest directly in an index.
Performance results for some funds may include the effect of expense reduction arrangements. If those arrangements had not been in place, the performance results would have been lower.
Fee Waiver and/or Expense Reimbursement: Through October 31, 2017, Waddell & Reed Investment Management Company (WRIMCO), the Fund’s investment manager, Waddell & Reed, Inc. (Waddell & Reed), the Fund’s distributor, and / or Waddell & Reed Services Company, doing business as WI Services Company (WISC), the Fund’s transfer agent, have contractually agreed to reimburse sufficient management fees, 12b-1 fees and / or shareholder servicing fees to cap the total annual ordinary fund operating expenses as follows: Class A shares at 1.22%, Class B shares at 2.50%, Class C shares at 2.13%, and Class Y at 0.92%. Prior to that date, the expense limitation may not be terminated by WRIMCO, Waddell & Reed, WISC or the Board of Trustees.
Pricing: All prices and year-to-date returns are based on closing quotes unless noted, as supplied to the NASDAQ by 6:00 p.m. Eastern time. YTD Prices can be updated 3 to 4 hours after the Daily Pricing information which can result in mismatching data.
Unsubsidized yields reflect what the yield would have been without the effect of reimbursements and waivers. The adviser and its affiliates have or may voluntarily waive a portion of their fees (including, but not limited to, distribution and service (12b-1) fees) and reimburse certain expenses. There is no guarantee that the fund will avoid a negative yield. Such undertaking may be amended or withdrawn at any time.
12-Month Trailing Distribution Yield: at NAV refers to the 12-month historical cash flow paid over the past 12 months in dividends, divided by the past months ending NAV.
Alpha, Beta, R-Squared, Standard Deviation, Sharpe Ratio and Capture Ratio are 5 year statistics. Alpha is a measure of a fund's actual returns and expected performance, given its level of risk (as measured by beta). Beta reflects the sensitivity of the fund's return to fluctuations in the market index. R-squared indicates how much of a fund's fluctuations were attributable to movements in the fund's benchmark. Standard deviation is a measure of how volatile a fund's returns are. Sharpe ratio is a measure of a fund's risk-adjusted performance. Capture ratio reflects the annualized product of fund vs. index returns for all months in which the index had a positive return (upside capture) or negative return (downside capture).
The Morningstar RatingTM 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. 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.
Information is subject to change and is not intended to represent any past or future investment recommendations.
Please remember that an investment in a mutual fund involves risk. Investment return and principal value of a mutual fund investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost.
YTD Prices can be updated 3 to 4 hours after the Daily Pricing information which can result in mismatching data.