Small Cap Diversified Value Fund (HWVIX)

I SHARES    A SHARES   

The performance data quoted represents past performance and does not guarantee future results. Current performance may be lower or higher. Investment return and principal value of the fund will fluctuate, and shares may be worth more or less than their original cost when redeemed. Click quarter-end or month-end to obtain the most recent fund performance.

Characteristics
As of 09/30/2017
TOP TEN STOCKS (%)1
Kosmos Energy Ltd.
0.5
Photronics Inc.
0.4
Och-Ziff Capital Management Co.
0.4
Synchronoss Technologies Inc.
0.4
Alliance Holdings Group LP
0.4
TRI Pointe Group Inc.
0.4
BP Prudhoe Bay Royalty Trust
0.4
Aceto Corp.
0.4
Atwood Oceanics Inc.
0.4
Resource Capital Corp.
0.4
0% 0.2% 0.4% 0.6% 0.8% 1%
TOP TEN INDUSTRIES (%)1
Banks
17.5
Oil, Gas & Consumable Fuels
5.5
Insurance
4.7
Thrifts & Mortgage Finance
3.9
Machinery
3.6
Specialty Retail
3.5
Professional Services
3.5
Household Durables
3.4
Energy Equipment & Services
3.4
Semicond/Semiconductor Equipment
3.3
0% 4% 8% 12% 16% 20%
SECTOR BREAKDOWN (%)1
  Portfolio Russell 2000 Value2 Russell 20002
Financials 30.5 30.6 18.2
Consumer Discretionary 17.0 10.6 12.4
Industrials 16.4 11.7 14.6
Information Technology 10.8 9.5 17.0
Energy 8.9 6.1 3.6
Materials 4.1 4.1 4.4
Health Care 3.2 5.6 15.1
Consumer Staples 3.1 2.8 2.7
Utilities 2.8 6.7 3.7
Real Estate 2.0 11.6 7.5
Telecommunication Services 0.8 0.7 0.9
STATISTICS
  Portfolio Russell 2000 Value Russell 2000
Projected P/E (FY2) 13.5x 16.2x 17.6x
Price/Normal Earnings 11.8x 16.2x 18.9x
Price/Book 1.4x 1.5x 2.2x
Price/Sales 0.8x 1.2x 1.4x
Weighted Average Market Capitalization (millions) $1,223 $1,997 $2,252
Median Market Capitalization (millions) $854 $737 $859

Mutual fund investing involves risk. Principal loss is possible. Investing in smaller and/or newer companies involves greater risks than those associated with investing in larger companies, such as business risk, significant stock price fluctuations and illiquidity.  The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods.

Diversification does not assure a profit nor protect against loss in a declining market.

Information on the Fund’s holdings, portfolio characteristics and attribution reports are subject to its portfolio holdings disclosure policy. Such information may be obtained through the Funds’ website or by calling 800-796-5606. Fund holdings and/or sector allocations are subject to change and are not buy/sell recommendations. Information presented based on proprietary or third-party estimates are subject to change and cannot be guaranteed.

% of Total Portfolio includes total investments, cash and cash equivalents, and accrued investment income on a trade date basis. 
2 As of 6/30/17

Index definitions

Glossary of financial terms