Active Equities
Equity Income Fund (Class A) (PEYAX)
A multidimensional approach to value investing
Darren Jaroch, CFA, and Lauren DeMore, CFA, manage a disciplined process to target a wider array of opportunities than many other equity income funds. In selecting stocks, they place extra emphasis on businesses that could enhance the fund’s capital appreciation potential.
Highlights
Objective
The fund seeks capital growth and current income.
Strategy and process
- A large-value focus: The fund focuses on large companies whose stocks are priced below their long-term potential, and where there may be a catalyst for positive change.
- Dividend growth: The fund places a distinct emphasis on companies that can grow their dividends and are able and willing to return cash to shareholders.
- A disciplined process: The portfolio managers invest using fundamental research and quantitative tools supported by strong risk controls in portfolio construction.
Fund price |
Yesterday’s close | 52-week high | 52-week low |
|---|---|---|---|
| Net asset value |
$24.74
0.45% | $0.11 |
$27.17
12/20/19 |
$17.25
03/23/20 |
Fund facts as of 09/30/20
$11,969.27M
12%
Quarterly
87
November
746745108 / 0010
06/15/77
Value
PEYAX
Management team
Manager commentary | Q2 2020
Active stock picks drove performance
Portfolio Managers Darren Jaroch, CFA, and Lauren DeMore, CFA, discuss their disciplined approach to stock selection.
Literature
Fund documents |
| Prospectuses/SAI |
| Fact Sheet (A share) (PDF) |
| Fact Sheet (R6 share) (PDF) |
| Fact Sheet (Y share) (PDF) |
| Brochure (PDF) |
| Annual Fund Report (PDF) |
| Semiannual Fund Report (PDF) |
| Quarterly commentary (PDF) |
| Equity Outlook (PDF) |
What’s next for the hard-hit financials sector?
The financials sector has been among the hardest hit from the COVID-19-induced equity market selloff, but there are reasons for optimism.Performance
Consistency of positive performance over five years
Performance shown above does not reflect the effects of any sales charges. Click on the dots to see specific returns in each five-year period as of the date revealed. Note that returns of 0.00% are counted as positive periods. For complete fund performance, please see below.
21.64%
Best 5-year annualized return
(for period ending 06/30/99)
-2.36%
Worst 5-year annualized return
(for period ending 03/31/09)
10.30%
Average 5-year annualized return
Total return (%) as of 09/30/20
Annual performance as of 09/30/20
Annualized Total return (%) as of 09/30/20
| Annualized performance | 1 yr. | 3 yrs. | 5 yrs. | 10 yrs. |
|---|---|---|---|---|
| Before sales charge | -0.34% | 5.06% | 8.88% | 10.82% |
| After sales charge | -6.07% | 3.01% | 7.59% | 10.17% |
| Russell 1000 Value Index | -5.03% | 2.63% | 7.66% | 9.95% |
Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary, and you may have a gain or loss when you sell your shares. Performance assumes reinvestment of distributions and does not account for taxes. Returns before sales charge do not reflect the current maximum sales charges as indicated below. Had the sales charge been reflected, returns would be lower. Returns at public offering price (after sales charge) for class A and class M shares reflect the current maximum initial sales charges of 5.75% and 3.50% for equity funds and 4.00% and 3.25% for income funds (2.25% for class A of Putnam Floating Rate Income Fund, Short-Term Municipal Income, Short Duration Bond Fund, and Fixed Income Absolute Return Fund), respectively. Class B share returns reflect the applicable contingent deferred sales charge (CDSC), which is 5% in the first year, declining to 1% in the sixth year, and is eliminated thereafter (except for Putnam Floating Rate Income Fund, Putnam Short Duration Bond Fund, Putnam Fixed Income Absolute Return Fund, and Putnam Short-Term Municipal Income Fund, which is 1% in the first year, declining to 0.5% in the second year, and is eliminated thereafter). Class C shares reflect a 1% CDSC the first year that is eliminated thereafter. Performance for class B, C, M, N, R, and Y shares prior to their inception is derived from the historical performance of class A shares, adjusted for the applicable sales charge (or CDSC) and, except for class Y shares, the higher operating expenses for such shares (with the exception of Putnam Tax-Free High Yield Fund and Putnam Strategic Intermediate Municipal Fund, which are based on the historical performance of class B shares). Performance for class A, C, R6, and Y shares of Putnam Mortgage Opportunities Fund before their inception is derived from the historical performance of class I shares, which have been adjusted for the applicable sales charge (or CDSC) and the higher operating expenses for such shares. Returns at public offering price (after sales charge) for class N shares reflect the current maximum initial sales charge of 1.50%. Class R5/R6 shares, available to qualified employee-benefit plans only, are sold without an initial sales charge and have no CDSC. Class Y shares are generally only available for corporate and institutional clients and have no initial sales charge. Performance for class R5/R6 shares before their inception are derived from the historical performance of class Y shares, which have not been adjusted for the lower expenses; had they, returns would have been higher. Class A shares of Putnam money market funds have no initial sales charge. For a portion of the period, some funds had expenses limitations or had been sold on a limited basis with limited assets and expenses, without which returns would be lower.
Performance snapshot
| Before sales charge | After sales charge | ||
|---|---|---|---|
| 1 mt. as of 09/30/20 | -3.11% | -8.68% | |
| YTD as of 10/23/20 | -5.23% | -10.68% | |
Yield
| Distribution rate before sales charge as of 10/23/20 |
1.60% |
|---|---|
| Distribution rate after sales charge as of 10/23/20 |
1.51% |
| 30-day SEC yield as of 09/30/20 (after sales charge) |
1.55% |
Risk-adjusted performance as of 09/30/20
| Alpha (3 yrs.) | 2.45 |
|---|---|
| Sharpe ratio (3 yrs.) | 0.19 |
| Treynor ratio (3 yrs.) | 3.55 |
| Information ratio (3 yrs.) | 1.00 |
Volatility as of 09/30/20
| Standard deviation (3 yrs.) | 17.93% |
|---|---|
| Beta | 0.98 |
| R-squared | 0.98 |
Capture ratio as of 09/30/20
| Up-market (3 yrs.) | 106.33 |
|---|---|
| Down-market (3 yrs.) | 96.56 |
Lipper rankings as of 09/30/20
| Time period | Rank/Funds in category | Percentile ranking |
|---|---|---|
| 1 yr. | 191/481 | 40% |
| 3 yrs. | 177/448 | 40% |
| 5 yrs. | 154/387 | 40% |
| 10 yrs. | 44/236 | 19% |
Morningstar Ratings™ as of 09/30/20
| Time period | Funds in category | Morningstar Rating™ |
|---|---|---|
| Overall | 1129 | |
| 3 yrs. | 1129 | |
| 5 yrs. | 992 | |
| 10 yrs. | 716 |
Distributions
| Record/Ex dividend date | 09/28/20 |
|---|---|
| Payable date | 09/30/20 |
| Income | $0.099 |
| Extra income | -- |
| Short-term cap. gain | -- |
| Long-term cap. gain | -- |
Lipper rankings are based on total return without sales charge relative to all share classes of funds with similar objectives as determined by Lipper. Past performance is not indicative of future results.
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.
The up-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has risen. The ratio is calculated by dividing the manager’s returns by the returns of the index during the up-market, and multiplying that factor by 100. The down-market capture ratio is used to evaluate how well an investment manager performed relative to an index during periods when that index has dropped. The ratio is calculated by dividing the manager’s returns by the returns of the index during the down-market and multiplying that factor by 100.
Holdings
| Microsoft Corp | 3.40% |
|---|---|
| Walmart | 3.34% |
| Bank Of America Corp | 2.80% |
| JPMorgan Chase | 2.75% |
| Citigroup | 2.38% |
| Johnson&Johnson | 2.29% |
| Fidelity National Information Services | 2.18% |
| Northrop Grumman Corp | 2.01% |
| Charter Communications | 1.99% |
| American Tower Corp | 1.86% |
| Top 10 holdings, percent of portfolio | 25.00% |
| Top 10 holdings as of 09/30/20 | |
|---|---|
| Microsoft Corp | |
| Walmart | |
| Bank Of America Corp | |
| JPMorgan Chase | |
| Citigroup | |
| Johnson&Johnson | |
| Fidelity National Information Services | |
| Northrop Grumman Corp | |
| Charter Communications | |
| American Tower Corp | |
| Holdings represent 25.00% of portfolio | |
| Top 10 holdings as of 08/31/20 | |
|---|---|
| Microsoft Corp | |
| Walmart | |
| Bank Of America Corp | |
| JPMorgan Chase | |
| Citigroup | |
| Johnson Johnson | |
| Fidelity National Information Services | |
| Northrop Grumman Corp | |
| Charter Communications | |
| American Tower Corp | |
| Holdings represent 25.39% of portfolio | |
| Top 10 holdings as of 07/31/20 | |
|---|---|
| Microsoft Corp | |
| Walmart | |
| Bank Of America Corp | |
| Citigroup | |
| JPMorgan Chase | |
| Johnson Johnson | |
| Fidelity National Information Services | |
| Northrop Grumman Corp | |
| American Tower Corp | |
| Charter Communications | |
| Holdings represent 25.24% of portfolio | |
| Top 10 holdings as of 06/30/20 | |
|---|---|
| Microsoft Corp | |
| Walmart | |
| Citigroup | |
| Bank Of America Corp | |
| JPMorgan Chase | |
| Johnson Johnson | |
| American Tower Corp | |
| Fidelity National Information Services | |
| Northrop Grumman Corp | |
| Eli Lilly And | |
| Holdings represent 24.98% of portfolio | |
| MICROSOFT CORP SEDOL 2588173 | 3.40% |
|---|---|
| WALMART INC SEDOL 2936921 | 3.34% |
| BANK OF AMERICA CORP SEDOL 2295677 | 2.80% |
| JPMORGAN CHASE & CO SEDOL 2190385 | 2.75% |
| CITIGROUP INC SEDOL 2297907 | 2.38% |
| JOHNSON & JOHNSON SEDOL 2475833 | 2.29% |
| FIDELITY NATIONAL INFO SERV SEDOL 2769796 | 2.18% |
| NORTHROP GRUMMAN CORP SEDOL 2648806 | 2.01% |
| CHARTER COMMUNICATIONS INC-A SEDOL BZ6VT82 | 1.99% |
| AMERICAN TOWER CORP SEDOL B7FBFL2 | 1.86% |
| PROCTER & GAMBLE CO/THE SEDOL 2704407 | 1.86% |
| BJ'S WHOLESALE CLUB HOLDINGS SEDOL BFZNZF8 | 1.76% |
| AMGEN INC SEDOL 2023607 | 1.71% |
| QUALCOMM INC SEDOL 2714923 | 1.71% |
| UNION PACIFIC CORP SEDOL 2914734 | 1.68% |
| MERCK & CO. INC. SEDOL 2778844 | 1.64% |
| ELI LILLY & CO SEDOL 2516152 | 1.60% |
| UNITED RENTALS INC SEDOL 2134781 | 1.57% |
| COMCAST CORP-CLASS A SEDOL 2044545 | 1.56% |
| CIGNA CORP SEDOL BHJ0775 | 1.56% |
| ABBVIE INC SEDOL B92SR70 | 1.47% |
| AMERICAN ELECTRIC POWER SEDOL 2026242 | 1.46% |
| TARGET CORP SEDOL 2259101 | 1.42% |
| DOW INC SEDOL BHXCF84 | 1.40% |
| NRG ENERGY INC SEDOL 2212922 | 1.36% |
| AIR PRODUCTS & CHEMICALS INC SEDOL 2011602 | 1.36% |
| FREEPORT-MCMORAN INC SEDOL 2352118 | 1.34% |
| ASTRAZENECA PLC-SPONS ADR SEDOL 2989044 | 1.34% |
| PEPSICO INC SEDOL 2681511 | 1.30% |
| EXELON CORP SEDOL 2670519 | 1.26% |
| REGENERON PHARMACEUTICALS SEDOL 2730190 | 1.23% |
| CRH PLC SEDOL 4182249 | 1.21% |
| ACTIVISION BLIZZARD INC SEDOL 2575818 | 1.20% |
| GOLDMAN SACHS GROUP INC SEDOL 2407966 | 1.20% |
| PNC FINANCIAL SERVICES GROUP SEDOL 2692665 | 1.18% |
| JOHNSON CONTROLS INTERNATION SEDOL BY7QL61 | 1.17% |
| HOME DEPOT INC SEDOL 2434209 | 1.16% |
| SOUTHWEST AIRLINES CO SEDOL 2831543 | 1.13% |
| T-MOBILE US INC P/P 144A 05.2500 CV PFD | 1.06% |
| GAMING AND LEISURE PROPERTIE SEDOL BFPK4S5 | 1.05% |
| CISCO SYSTEMS INC SEDOL 2198163 | 1.04% |
| BAXTER INTERNATIONAL INC SEDOL 2085102 | 1.02% |
| EATON CORP PLC SEDOL B8KQN82 | 1.01% |
| DANAHER CORP SEDOL 2250870 | 0.98% |
| PULTEGROUP INC SEDOL 2708841 | 0.95% |
| HILTON WORLDWIDE HOLDINGS IN SEDOL BYVMW06 | 0.95% |
| ALBEMARLE CORP SEDOL 2046853 | 0.93% |
| RAYTHEON TECHNOLOGIES CORP SEDOL BM5M5Y3 | 0.93% |
| APTIV PLC SEDOL B783TY6 | 0.89% |
| FORTUNE BRANDS HOME & SECURI SEDOL B3MC7D6 | 0.87% |
| APOLLO GLOBAL MANAGEMENT INC SEDOL BKRLVD5 | 0.86% |
| CONOCOPHILLIPS | 0.85% |
| AMEREN CORPORATION SEDOL 2050832 | 0.84% |
| PFIZER INC SEDOL 2684703 | 0.84% |
| EXXON MOBIL CORP SEDOL 2326618 | 0.79% |
| TEXAS INSTRUMENTS INC SEDOL 2885409 | 0.79% |
| DANAHER CORP 05.0000 CV PFD | 0.77% |
| AXA SA SEDOL 7088429 | 0.76% |
| SCHWAB (CHARLES) CORP SEDOL 2779397 | 0.76% |
| HONEYWELL INTERNATIONAL INC SEDOL 2020459 | 0.76% |
| RADIAN GROUP INC SEDOL 2173911 | 0.75% |
| ASSURED GUARANTY LTD SEDOL B00V7H8 | 0.74% |
| GENERAL MOTORS CO SEDOL B665KZ5 | 0.72% |
| VALERO ENERGY CORP SEDOL 2041364 | 0.72% |
| KEURIG DR PEPPER INC SEDOL BD3W133 | 0.71% |
| ARAMARK SEDOL BH3XG17 | 0.70% |
| STATE STREET CORP SEDOL 2842040 | 0.69% |
| BOSTON PROPERTIES INC SEDOL 2019479 | 0.68% |
| AMERICAN INTERNATIONAL GROUP SEDOL 2027342 | 0.66% |
| VERIZON COMMUNICATIONS INC SEDOL 2090571 | 0.63% |
| ENTERPRISE PRODUCTS PARTNERS SEDOL 2285388 | 0.62% |
| NXP SEMICONDUCTORS NV SEDOL B505PN7 | 0.61% |
| TOTAL SE SEDOL B15C557 | 0.58% |
| CAPITAL ONE FINANCIAL CORP SEDOL 2654461 | 0.56% |
| BP PLC SEDOL 0798059 | 0.48% |
| MOLSON COORS BEVERAGE CO - B SEDOL B067BM3 | 0.47% |
| KEYCORP SEDOL 2490911 | 0.39% |
| WALGREENS BOOTS ALLIANCE INC SEDOL BTN1Y44 | 0.35% |
| DUPONT DE NEMOURS INC SEDOL BK0VN47 | 0.33% |
| SHERWIN-WILLIAMS CO/THE SEDOL 2804211 | 0.26% |
| EOG RESOURCES INC SEDOL 2318024 | 0.21% |
| HALLIBURTON CO SEDOL 2405302 | 0.19% |
| MARATHON OIL CORP SEDOL 2910970 | 0.15% |
| GENERAL ELECTRIC CO SEDOL 2380498 | 0.14% |
| TREASURY BILL 00.0000 10/27/2020 | 0.12% |
| OCCIDENTAL PETROLEUM CORP SEDOL 2655408 | 0.04% |
| GBP/USD 12/16/2020 BCAP-FX | 0.04% |
| GBP/USD 12/16/2020 GSFX | 0.04% |
| DXC TECHNOLOGY CO SEDOL BYXD7B3 | 0.03% |
| CASH MGMT BILL 00.0000 12/08/2020 | 0.03% |
| TREASURY BILL 00.0000 11/05/2020 | 0.02% |
| EUR/USD 12/16/2020 SSBT | 0.01% |
| EUR/USD 12/16/2020 UBS | 0.01% |
| GBP/USD 12/16/2020 HSBCB | 0.01% |
| EUR/USD 12/16/2020 HSBCB | 0.01% |
| EUR/USD 12/16/2020 GSFX | 0.00% |
| EUR/USD 12/16/2020 BANKAM | 0.00% |
| EUR/USD 12/16/2020 WPAC | 0.00% |
| OCCIDENTAL PETROLEUM -CW27 SEDOL BMVF784 | 0.00% |
| HC BRILLANT SERVICES GMBH P/P | 0.00% |
| EUR/USD 12/16/2020 BCAP-FX | -0.00% |
| GBP/USD 12/16/2020 BANKAM | -0.01% |
| GBP/USD 12/16/2020 UBS | -0.02% |
| MICROSOFT CORP SEDOL 2588173 | 3.38% |
|---|---|
| WALMART INC SEDOL 2936921 | 2.94% |
| CITIGROUP INC SEDOL 2297907 | 2.91% |
| BANK OF AMERICA CORP SEDOL 2295677 | 2.84% |
| JPMORGAN CHASE & CO SEDOL 2190385 | 2.76% |
| JOHNSON & JOHNSON SEDOL 2475833 | 2.22% |
| AMERICAN TOWER CORP SEDOL B7FBFL2 | 2.05% |
| FIDELITY NATIONAL INFO SERV SEDOL 2769796 | 2.04% |
| NORTHROP GRUMMAN CORP SEDOL 2648806 | 2.02% |
| ELI LILLY & CO SEDOL 2516152 | 1.82% |
| CIGNA CORP SEDOL BHJ0775 | 1.77% |
| ABBVIE INC SEDOL B92SR70 | 1.69% |
| CHARTER COMMUNICATIONS INC-A SEDOL BZ6VT82 | 1.68% |
| PROCTER & GAMBLE CO/THE SEDOL 2704407 | 1.65% |
| AMGEN INC SEDOL 2023607 | 1.63% |
| BJ'S WHOLESALE CLUB HOLDINGS SEDOL BFZNZF8 | 1.63% |
| MERCK & CO. INC. SEDOL 2778844 | 1.58% |
| NRG ENERGY INC SEDOL 2212922 | 1.49% |
| UNION PACIFIC CORP SEDOL 2914734 | 1.49% |
| AMERICAN ELECTRIC POWER SEDOL 2026242 | 1.47% |
| APPLE INC SEDOL 2046251 | 1.41% |
| REGENERON PHARMACEUTICALS SEDOL 2730190 | 1.41% |
| UNITED RENTALS INC SEDOL 2134781 | 1.38% |
| QUALCOMM INC SEDOL 2714923 | 1.36% |
| COMCAST CORP-CLASS A SEDOL 2044545 | 1.36% |
| ASTRAZENECA PLC-SPONS ADR SEDOL 2989044 | 1.33% |
| EXELON CORP SEDOL 2670519 | 1.32% |
| PEPSICO INC SEDOL 2681511 | 1.28% |
| CISCO SYSTEMS INC SEDOL 2198163 | 1.26% |
| DOW INC SEDOL BHXCF84 | 1.25% |
| GOLDMAN SACHS GROUP INC SEDOL 2407966 | 1.21% |
| CRH PLC SEDOL 4182249 | 1.18% |
| ACTIVISION BLIZZARD INC SEDOL 2575818 | 1.16% |
| PNC FINANCIAL SERVICES GROUP SEDOL 2692665 | 1.16% |
| AIR PRODUCTS & CHEMICALS INC SEDOL 2011602 | 1.13% |
| BAXTER INTERNATIONAL INC SEDOL 2085102 | 1.13% |
| CONOCOPHILLIPS | 1.12% |
| TARGET CORP SEDOL 2259101 | 1.12% |
| HOME DEPOT INC SEDOL 2434209 | 1.08% |
| EXXON MOBIL CORP SEDOL 2326618 | 1.06% |
| SOUTHWEST AIRLINES CO SEDOL 2831543 | 1.06% |
| RAYTHEON TECHNOLOGIES CORP SEDOL BM5M5Y3 | 1.02% |
| FREEPORT-MCMORAN INC SEDOL 2352118 | 1.02% |
| VALERO ENERGY CORP SEDOL 2041364 | 1.01% |
| JOHNSON CONTROLS INTERNATION SEDOL BY7QL61 | 1.01% |
| GAMING AND LEISURE PROPERTIE SEDOL BFPK4S5 | 1.00% |
| FORTUNE BRANDS HOME & SECURI SEDOL B3MC7D6 | 0.98% |
| APOLLO GLOBAL MANAGEMENT INC SEDOL BKRLVD5 | 0.98% |
| 2020 CASH EXCH TRUST P/P 144A 05.2500 CV PFD | 0.94% |
| AXA SA SEDOL 7088429 | 0.89% |
| EATON CORP PLC SEDOL B8KQN82 | 0.89% |
| ASSURED GUARANTY LTD SEDOL B00V7H8 | 0.86% |
| HILTON WORLDWIDE HOLDINGS IN SEDOL BYVMW06 | 0.84% |
| ALBEMARLE CORP SEDOL 2046853 | 0.83% |
| DANAHER CORP SEDOL 2250870 | 0.83% |
| RADIAN GROUP INC SEDOL 2173911 | 0.82% |
| BOSTON PROPERTIES INC SEDOL 2019479 | 0.78% |
| APTIV PLC SEDOL B783TY6 | 0.78% |
| AMERICAN INTERNATIONAL GROUP SEDOL 2027342 | 0.77% |
| AMEREN CORPORATION SEDOL 2050832 | 0.77% |
| PFIZER INC SEDOL 2684703 | 0.77% |
| STATE STREET CORP SEDOL 2842040 | 0.76% |
| ENTERPRISE PRODUCTS PARTNERS SEDOL 2285388 | 0.73% |
| SCHWAB (CHARLES) CORP SEDOL 2779397 | 0.73% |
| PULTEGROUP INC SEDOL 2708841 | 0.72% |
| TEXAS INSTRUMENTS INC SEDOL 2885409 | 0.72% |
| HONEYWELL INTERNATIONAL INC SEDOL 2020459 | 0.68% |
| DANAHER CORP 05.0000 CV PFD | 0.67% |
| TOTAL SA SEDOL B15C557 | 0.66% |
| BP PLC SEDOL 0798059 | 0.65% |
| GENERAL MOTORS CO SEDOL B665KZ5 | 0.64% |
| ARAMARK SEDOL BH3XG17 | 0.61% |
| VERIZON COMMUNICATIONS INC SEDOL 2090571 | 0.60% |
| NXP SEMICONDUCTORS NV SEDOL B505PN7 | 0.57% |
| CAPITAL ONE FINANCIAL CORP SEDOL 2654461 | 0.50% |
| MOLSON COORS BEVERAGE CO - B SEDOL B067BM3 | 0.49% |
| WALGREENS BOOTS ALLIANCE INC SEDOL BTN1Y44 | 0.42% |
| KEYCORP SEDOL 2490911 | 0.41% |
| ONEOK INC SEDOL 2130109 | 0.36% |
| DUPONT DE NEMOURS INC SEDOL BK0VN47 | 0.33% |
| EOG RESOURCES INC SEDOL 2318024 | 0.30% |
| KEURIG DR PEPPER INC SEDOL BD3W133 | 0.27% |
| MARATHON OIL CORP SEDOL 2910970 | 0.22% |
| SHERWIN-WILLIAMS CO/THE SEDOL 2804211 | 0.22% |
| HALLIBURTON CO SEDOL 2405302 | 0.22% |
| GENERAL ELECTRIC CO SEDOL 2380498 | 0.16% |
| OVINTIV INC SEDOL BL3GRC2 | 0.12% |
| AT&T INC SEDOL 2831811 | 0.11% |
| STANLEY BLACK & DECKER I 05.2500 CV PFD | 0.11% |
| OCCIDENTAL PETROLEUM CORP SEDOL 2655408 | 0.08% |
| CASH MGMT BILL 00.0000 09/15/2020 | 0.04% |
| DXC TECHNOLOGY CO SEDOL BYXD7B3 | 0.03% |
| GBP/USD 09/16/2020 BCAP-FX | 0.02% |
| GBP/USD 09/16/2020 GSFX | 0.02% |
| GBP/USD 09/16/2020 HSBCB | 0.00% |
| EUR/USD 09/16/2020 HSBCB | 0.00% |
| EUR/USD 09/16/2020 BANKAM | 0.00% |
| EUR/USD 09/16/2020 WPAC | 0.00% |
| HC BRILLANT SERVICES GMBH P/P | 0.00% |
| EUR/USD 09/16/2020 BCAP-FX | -0.00% |
| EUR/USD 09/16/2020 GSFX | -0.00% |
| EUR/USD 09/16/2020 UBS | -0.00% |
| EUR/USD 09/16/2020 SSBT | -0.00% |
| GBP/USD 09/16/2020 UBS | -0.01% |
Portfolio composition as of 09/30/20
| Common stock | 95.10% |
|---|---|
| Cash and net other assets | 3.07% |
| Convertible preferred stock | 1.83% |
Equity statistics as of 09/30/20
| Median market cap | $44.73B |
|---|---|
| Weighted average market cap | $166.33B |
| Price to book | 2.03 |
| Price to earnings | 16.06 |
Fund characteristics will vary over time.
Due to rounding, percentages may not equal 100%.
Consider these risks before investing: Value stocks may fail to rebound, and the market may not favor value-style investing. Income provided by the fund may be reduced by changes in the dividend policies of, and the capital resources available at, the companies in which the fund invests. The value of investments in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund's other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.
Top industry sectors as of 09/30/20
| Financials | 16.47% |
|---|---|
| Health care | 16.43% |
| Industrials | 11.27% |
| Consumer staples | 9.79% |
| Information technology | 9.74% |
| Materials | 6.83% |
| Consumer discretionary | 6.80% |
| Communication services | 6.45% |
| Utilities | 4.93% |
| Other | 11.29% |
0
The unclassified sector (where applicable) includes exchange traded funds and other securities not able to be classified by sector.
Sectors will vary over time.
Expenses
Expense ratio |
Class A | Class B | Class C | Class R | Class R5 | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|
| Total expense ratio | 0.91% | 1.66% | 1.66% | 1.16% | 0.65% | 0.55% | 0.66% |
| What you pay | 0.91% | 1.66% | 1.66% | 1.16% | 0.65% | 0.55% | 0.66% |
Sales charge
| Investment Breakpoint | Class A | Class B | Class C | Class R | Class R5 | Class R6 | Class Y |
|---|---|---|---|---|---|---|---|
| $0-$49,999 | 5.75% | 0.00% | 0.00% | -- | -- | -- | -- |
| $50,000-$99,999 | 4.50% | 0.00% | 0.00% | -- | -- | -- | -- |
| $100,000-$249,999 | 3.50% | -- | 0.00% | -- | -- | -- | -- |
| $250,000-$499,999 | 2.50% | -- | 0.00% | -- | -- | -- | -- |
| $500,000-$999,999 | 2.00% | -- | 0.00% | -- | -- | -- | -- |
| $1M-$4M | 0.00% | -- | -- | -- | -- | -- | -- |
| $4M-$50M | 0.00% | -- | -- | -- | -- | -- | -- |
| $50M+ | 0.00% | -- | -- | -- | -- | -- | -- |
CDSC
| Class A (sales for $1,000,000+) | Class B | Class C | Class R | Class R5 | Class R6 | Class Y | |
|---|---|---|---|---|---|---|---|
| 0 to 9 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- | -- |
| 9 to 12 mts. | 1.00% | 5.00% | 1.00% | -- | -- | -- | -- |
| 2 yrs. | 0.00% | 4.00% | 0.00% | -- | -- | -- | -- |
| 3 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- | -- |
| 4 yrs. | 0.00% | 3.00% | 0.00% | -- | -- | -- | -- |
| 5 yrs. | 0.00% | 2.00% | 0.00% | -- | -- | -- | -- |
| 6 yrs. | 0.00% | 1.00% | 0.00% | -- | -- | -- | -- |
| 7+ yrs. | 0.00% | 0.00% | 0.00% | -- | -- | -- | -- |
The Russell 1000 Value Index is an unmanaged index of those companies in the large-cap Russell 1000 Index chosen for their value orientation. You cannot invest directly in an index.
Consider these risks before investing: Value stocks may fail to rebound, and the market may not favor value-style investing. Income provided by the fund may be reduced by changes in the dividend policies of, and the capital resources available at, the companies in which the fund invests. The value of investments in the fund's portfolio may fall or fail to rise over extended periods of time for a variety of reasons, including general economic, political or financial market conditions, investor sentiment and market perceptions, government actions, geopolitical events or changes, and factors related to a specific issuer, geography, industry or sector. These and other factors may lead to increased volatility and reduced liquidity in the fund's portfolio holdings. Our investment techniques, analyses, and judgments may not produce the outcome we intend. The investments we select for the fund may not perform as well as other securities that we do not select for the fund. We, or the fund's other service providers, may experience disruptions or operating errors that could have a negative effect on the fund. You can lose money by investing in the fund.