The Omni Tax-Managed Small-Cap Value Fund uses a market capitalization weighted approach to invest in a broad and diverse group of small-cap stocks that Bridgeway Capital Management™ determines to be value stocks. This approach is sometimes referred to as "passive, asset-class investing." Use of the term "Omni" in the name refers to the fact that the Fund intends to provide risk and return characteristics similar to investing in a basket of stocks in a specific asset class. The Fund's tax management approach strives to minimize taxable distributions to shareholders. The Fund is designed to be an excellent complement to core strategies used by advisors with a long-term, evidence-based investing approach.
The Fund uses a market capitalization weighted approach to invest in a broad and diverse group of small-cap stocks that Bridgeway determines to be value stocks. For investment purposes, "small-cap stocks" are defined as companies that have a market capitalization generally in the lowest 15% of total market capitalization or smaller than the 1000th largest US company, whichever results in the higher capitalization. "Value stocks" are those that Bridgeway determines are priced cheaply relative to some financial measures of worth, such as the ratio of price to book value, price to earnings, price to sales, or price to cash flow. This approach is sometimes referred to as "passive, asset-class investing." Use of the term "Omni" in the name refers to the fact that the Fund intends to provide risk and return characteristics similar to investing in a basket of stocks in a specific asset class. The Fund's tax management approach strives to minimize taxable distributions to shareholders.
Elena Khoziaeva, CFA
Christine Wang, CFA, CPA
Michael Whipple, CFA, FRM
(as of 09/28/2022)
NAV change: $19.05
52-Week High $23.35 | 52-Week Low $18.55
|Benchmark||Russell 2000 Value Index|
Performance (as of 06/30/2022)
Calendar Year Performance (%)
|Total Return %||16.62||43.08||0.44||-5.47||34.60||5.52||-16.08||14.28||-1.86||46.62|
|Russell 2000 Value Index||18.05||34.52||4.22||-7.47||31.74||7.84||-12.86||22.39||4.63||28.27|
Annualized Returns (%)
|QTR||1 YR||3 YR||5 YR||10 YR||SINCE INCEPTION 12/31/2010|
|Russell 2000 Value Index||-15.28||-16.28||6.18||4.89||9.05||8.04|
RETURNS LESS THAN ONE YEAR ARE NOT ANNUALIZED.
PERFORMANCE DATA QUOTED REPRESENTS PAST PERFORMANCE AND IS NO GUARANTEE OF FUTURE RESULTS. CURRENT PERFORMANCE MAY BE LOWER OR HIGHER THAT THE PERFORMANCE DATA QUOTED. INVESTMENT RETURN AND PRINCIPAL VALUE WILL FLUCTUATE SO THAT AN INVESTOR'S SHARES, WHEN REDEEMED, MAY BE WORTH MORE OF LESS THAN ORIGINAL COST. FOR THE MOST RECENT MONTH-END PERFORMANCE, PLEASE CLICK HERE OR CALL 800-661-3550.
Growth of $10,000 Investment (06/30/2012 to 06/30/2022)
Characteristics (as of 06/30/2022)
Equity Portfolio Statistics
|Category||Stock Portfolio Avg.|
|Weighted Avg Market Cap (Mil)||$1,419|
|Total # of Holdings||630|
|Net Assets (Mil)||$816|
Company Size Breakdown
|Company Size||% Portfolio|
Top Ten Holdings
|Company||Market Cap ($Mil)||% of Net Assets|
|Antero Resources Corp.||9,535||1.12|
|PBF Energy Inc.||3,500||0.89|
|SM Energy Co.||4,167||0.73|
|Golar LNG Ltd.||2,457||0.69|
|Patterson-UTI Energy Inc.||3,409||0.65|
|Consol Energy Inc.||1,719||0.61|
|Weis Markets Inc.||2,005||0.61|
|Centennial Resource Development Inc||1,704||0.60|
|NetScout Systems Inc.||2,509||0.60|
Fees and Expenses
Please refer to the table for any fees and expenses associated with the current fund.
|Gross Expense Ratio||0.69%|
|Net Expense Ratio||0.60%|
|Net Expense Ratio
(After Voluntary Waiver)
Historical Distribution and Tax Information
|Year||Ordinary Income||ST Cap Gains||LT Cap Gains||Total Distribution||Reinvest Nav||Record Date||Ex Date||Payable Date|
|Omni Tax-Managed Small-Cap Value Fund|
Past performance is not an indication of future results.
Some of the Fund’s fees were waived or expenses reimbursed; otherwise, returns would have been lower. The Adviser is contractually obligated to waive fees and/or reimburse expenses such that the net expenses of the Fund do not exceed 0.60%. Any material change to this Fund policy would require a vote by shareholders. Effective January 1, 2020, the Adviser voluntarily agreed to waive fees and/or pay Fund expenses in an additional amount such that the net fiscal year expense ratio for the Fund (management fees and other expenses less the contractual waiver and voluntary waiver) does not exceed 0.47%. This voluntary expense cap may be changed or eliminated at any time by the Adviser.
Before investing you should carefully consider the Fund's investment objectives, risks, charges, and expenses. This and other information is in the prospectus, a copy of which may be obtained by calling 800-661-3550 or visiting the Fund's website at bridgewayfunds.com. Please read the prospectus carefully before you invest.
Total return figures include the reinvestment of dividends and capital gains. Some of the fees were waived or expenses reimbursed; returns would have been lower had this not been the case. Returns do not reflect the taxes that a shareholder who owned this Fund in a taxable account would pay on Fund distributions or on the redemption of Fund shares.
Market volatility can significantly impact short-term performance. The Fund is not an appropriate investment for short-term investors. In addition, market turbulence and reduced liquidity in the markets may negatively affect many issuers, which could adversely affect the Funds. Investments in small companies generally carry greater risk than is customarily associated with larger companies. This additional risk is attributable to a number of factors, including the relatively limited financial resources that are typically available to small companies, and the fact that small companies often have comparatively limited product lines. In addition, the stock of small companies tends to be more volatile than the stock of large companies, particularly in the short term and particularly in the early stages of an economic or market downturn. Shareholders of the Fund, therefore, are taking on more risk than they would if they invested in the stock market as a whole.
The Russell 2000® Value Index measures the performance of those Russell 2000® companies with lower price-to-book ratios and lower forecasted growth values. Both indexes assume that all dividends are reinvested. It is not possible to invest directly in an index.
Holdings and sector weightings are subject to change without notice. Percentages may not total 100 due to rounding. Price-to-earnings ratios, price-to-book ratios, price-to-cash flow ratios, and price-to-sales ratios all express the value of a stock's most recent closing price as divided by the underlying company's earnings per share, book value per share, cash flow per share, or revenues per share (respectively), all as computed over the previous 12 months. Beta is a quantitative measure of the volatility of the Fund relative to the Russell 2000® Value Index over the past three years. A beta above 1 is more volatile than the overall market, while a beta below 1 is less volatile.
The Fund is distributed by Foreside Fund Services, LLC, which is not affiliated with Bridgeway Capital Management, LLC ™ or any other affiliate.