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LARGE COMPANY VALUE PORTFOLIO

mutual fund
DTLVX
Payout Change
Pending
Price as of:
$22.9 -0.17 -0.74%
primary theme
U.S. Large-Cap Value Equity
share class
DTLVX (Mutual Fund)

LARGE COMPANY VALUE PORTFOLIO

Payout Change
Pending
Price as of:
$22.9 -0.17 -0.74%
primary theme
U.S. Large-Cap Value Equity
share class
DTLVX (Mutual Fund)

LARGE COMPANY VALUE PORTFOLIO

Payout Change
Pending
Price as of:
$22.9 -0.17 -0.74%
primary theme
U.S. Large-Cap Value Equity
share class

Name

As of 10/07/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$22.90

$170 M

0.50%

$0.12

1.32%

Vitals

YTD Return

14.0%

1 yr return

26.5%

3 Yr Avg Return

7.5%

5 Yr Avg Return

10.2%

Net Assets

$170 M

Holdings in Top 10

13.7%

52 WEEK LOW AND HIGH

$23.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.32%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 87.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/07/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$22.90

$170 M

0.50%

$0.12

1.32%

DTLVX - Profile

Distributions

  • YTD Total Return 14.0%
  • 3 Yr Annualized Total Return 7.5%
  • 5 Yr Annualized Total Return 10.2%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 0.24%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    LARGE COMPANY VALUE PORTFOLIO
  • Fund Family Name
    Wilshire Mutual Funds, Inc.
  • Inception Date
    Mar 04, 1996
  • Shares Outstanding
    260402
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Daniel Allen

Fund Description

The Portfolio invests under normal circumstances, at least 80% of its net assets in the common stock of companies with larger market capitalizations-within the market capitalization range of the Russell 1000® Index (as of December 31, 2023, this range was between approximately $270.19 million and $2.99 trillion). The market capitalization range of the Russell 1000® Index is subject to change.
The Portfolio engages in leverage by investing in Russell 1000 Value Index derivatives, the notional value of which equals approximately 20% of the Portfolio’s net assets. The Portfolio’s derivatives exposure is backed by a portfolio of fixed income securities representing approximately 20% of the Portfolio’s net assets. A Russell 1000 Value Index derivative is a derivative contract, typically a swap agreement, that uses the Russell 1000 Value Index as its reference asset. The portion of the Portfolio invested in Russell 1000 Value Index derivatives seeks to track the daily performance of the Russell 1000 Value Index (the “Swaps Strategy”) and invests in such derivatives in addition to or in place of companies within the Russell 1000 Value Index. In addition to swaps, the Portfolio may invest in other types of derivatives including options, futures, options on futures, and other similar instruments. For purposes of the Portfolio’s 80% test, Russell 1000 Value Index derivatives will be counted as common stocks of companies with larger market capitalizations and will be valued at notional value rather than market value.
Fixed income securities held by the Portfolio may include bonds, debt securities, asset-backed and mortgage-backed securities and other similar instruments. The fixed income securities are typically expected to have a duration that does not exceed one year. The Portfolio may invest in below investment grade debt securities, commonly known as “high-yield” securities or “junk bonds.”
The Portfolio may invest a portion of its assets in equity securities of foreign companies traded in the U.S. or locally on foreign exchanges, including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”).
The Portfolio uses a multi-manager strategy where Wilshire and multiple subadvisers employ different strategies with respect to separate portions of the Portfolio in order achieve the Portfolio’s investment objective. Wilshire typically allocates the Portfolio’s assets among the Portfolio’s subadvisers in accordance with its outlook for the economy and the financial markets. Each of Los Angeles Capital Management LLC (“Los Angeles Capital”), Hotchkis & Wiley Capital Management, LLC (“Hotchkis & Wiley”), Massachusetts Financial Services Company (d/b/a MFS Investment Management) (“MFS”), and Voya Investment Management Co LLC (“Voya”) manage a portion of the Portfolio and Wilshire manages the Portfolio’s Swaps Strategy.
Los Angeles Capital employs a quantitative investment process for security selection and risk management. Los Angeles Capital utilizes its proprietary Dynamic Alpha Stock Selection Model® to build equity portfolios that adapt to market conditions. The model considers a range of valuation, earnings and management characteristics to identify current drivers of return.
MFS focuses on investing its portion of the Portfolio in the stocks of companies that it believes are undervalued compared to their intrinsic value. MFS evaluates the intrinsic value of a company by considering the full context of how the company's cash flows are generated. MFS focuses on companies it believes have intrinsic value greater than the perceived value by the marketplace and seeks to invest in companies that exhibit characteristics such as cash flow in excess of capital expenditures, conservative balances sheets, sustainable competitive advantages, high returns on capital, and/or the ability to weather economic downturns. These companies may have stock prices that are higher relative to their earnings, dividends, assets, or other financial measures than companies generally considered value companies under a traditional value investment strategy. MFS may invest its portion of the Portfolio in foreign securities. MFS normally invests its portion of the Portfolio across different industries and sectors, but MFS may invest a significant percentage of its portion of the Portfolio in issuers in a single industry or sector. MFS uses an active bottom-up investment approach to buying and selling investments for its portion of the Portfolio. Investments are selected primarily based on fundamental analysis of individual issuers. Quantitative screening tools that systematically evaluate issuers may also be considered.
In managing its portion of the Portfolio, Hotchkis & Wiley seeks to invest in stocks whose future prospects are misunderstood or not fully recognized by the market. Hotchkis & Wiley employs a fundamental value investing approach which seeks to exploit market inefficiencies created by irrational investor behavior. To identify these investment opportunities, Hotchkis & Wiley employs a disciplined, “bottom-up” investment process based on a proprietary model that is augmented with internally-generated fundamental research. Hotchkis & Wiley seeks broad diversified exposure to these investment opportunities by holding approximately 50-80 portfolio securities. With the exception of diversification guidelines, Hotchkis & Wiley does not employ pre-determined rules for sales; rather, Hotchkis & Wiley evaluates each sell candidate based on the candidate’s specific risk and return characteristics which include: 1) relative valuation; 2) fundamental operating trends; 3) deterioration of fundamentals; and 4) diversification guidelines.
In managing its portion of the Portfolio, Voya focuses on managing a broad array of fixed income investment opportunities, including but not limited to U.S. government securities, securities of foreign governments, and supranational organizations; bank loans; notes that can invest in securities with any credit rating; mortgage-backed, asset-backed debt securities and other structured credit securities, commercial paper and debt securities of foreign issuers, including emerging market countries. In addition, Voya may also invest in its affiliated registered investment companies.
The Portfolio may appeal to you if:
you are a long-term investor;
•    you seek growth of capital;
•    you believe that the market will favor a particular investment style, such as large cap value stocks, over other investment styles in the long term and you want a more focused exposure to that investment style; or
•    you own other funds or stocks which provide exposure to some but not all investment styles and would like a more complete exposure to the equity market.
Read More

DTLVX - Performance

Return Ranking - Trailing

Period DTLVX Return Category Return Low Category Return High Rank in Category (%)
YTD 14.0% -99.4% 35.8% 69.88%
1 Yr 26.5% -99.3% 59.4% 58.13%
3 Yr 7.5%* -81.0% 33.0% 73.21%
5 Yr 10.2%* -62.0% 46.3% 76.19%
10 Yr 6.8%* -36.7% 25.6% 95.76%

* Annualized

Return Ranking - Calendar

Period DTLVX Return Category Return Low Category Return High Rank in Category (%)
2023 12.8% -16.9% 46.1% 15.07%
2022 -20.0% -64.7% 4.6% 91.15%
2021 12.9% -44.2% 57.5% 65.45%
2020 -1.8% -23.2% 285.0% 61.26%
2019 16.8% -21.4% 48.5% 68.02%

Total Return Ranking - Trailing

Period DTLVX Return Category Return Low Category Return High Rank in Category (%)
YTD 14.0% -99.4% 35.8% 69.88%
1 Yr 26.5% -99.3% 59.4% 58.13%
3 Yr 7.5%* -81.0% 33.0% 73.21%
5 Yr 10.2%* -62.0% 46.3% 76.19%
10 Yr 6.8%* -36.7% 25.6% 95.76%

* Annualized

Total Return Ranking - Calendar

Period DTLVX Return Category Return Low Category Return High Rank in Category (%)
2023 16.0% -15.9% 46.7% 18.75%
2022 -11.5% -42.0% 8.5% 90.12%
2021 25.8% 3.6% 129.7% 51.73%
2020 -0.8% -22.6% 304.8% 80.83%
2019 23.6% -12.7% 52.1% 72.57%

NAV & Total Return History


DTLVX - Holdings

Concentration Analysis

DTLVX Category Low Category High DTLVX % Rank
Net Assets 170 M 1.94 M 163 B 81.21%
Number of Holdings 552 2 1733 3.12%
Net Assets in Top 10 22.7 M 433 K 37.8 B 87.26%
Weighting of Top 10 13.72% 4.4% 99.1% 98.16%

Top 10 Holdings

  1. Voya VACS Series SC Fund 2.73%
  2. MS_TRS_RUSSELL 1000 VALUE INDEX TOTAL RETURN 1.47%
  3. Microsoft Corp 1.47%
  4. Citigroup Inc 1.36%
  5. Wells Fargo Co 1.30%
  6. Workday Inc 1.17%
  7. Berkshire Hathaway Inc 1.09%
  8. Telefonaktiebolaget LM Ericsson 1.06%
  9. Elevance Health Inc 1.06%
  10. Alphabet Inc 1.01%

Asset Allocation

Weighting Return Low Return High DTLVX % Rank
Stocks
85.68% 7.19% 103.40% 97.71%
Bonds
7.04% 0.00% 78.06% 1.19%
Cash
4.58% 0.00% 36.15% 10.82%
Other
2.70% -2.19% 36.68% 4.40%
Convertible Bonds
0.25% 0.00% 3.66% 3.59%
Preferred Stocks
0.00% 0.00% 15.27% 14.30%

Stock Sector Breakdown

Weighting Return Low Return High DTLVX % Rank
Financial Services
20.15% 0.00% 58.05% 39.96%
Technology
17.14% 0.00% 54.02% 14.06%
Industrials
13.89% 0.00% 42.76% 19.15%
Healthcare
13.06% 0.00% 30.08% 86.68%
Energy
8.76% 0.00% 54.00% 34.78%
Consumer Defense
7.35% 0.00% 34.10% 66.98%
Communication Services
6.00% 0.00% 26.58% 45.61%
Consumer Cyclical
5.63% 0.00% 22.74% 50.42%
Basic Materials
4.02% 0.00% 21.69% 32.38%
Real Estate
2.03% 0.00% 90.54% 60.50%
Utilities
1.99% 0.00% 27.04% 79.74%

Stock Geographic Breakdown

Weighting Return Low Return High DTLVX % Rank
US
84.24% 7.19% 103.40% 94.68%
Non US
1.44% 0.00% 24.72% 28.05%

Bond Sector Breakdown

Weighting Return Low Return High DTLVX % Rank
Securitized
40.38% 0.00% 40.38% 0.10%
Corporate
23.68% 0.00% 100.00% 8.78%
Government
6.09% 0.00% 100.00% 1.83%
Derivative
1.45% -2.19% 8.30% 1.56%
Municipal
0.01% 0.00% 0.02% 0.58%
Cash & Equivalents
0.00% 0.00% 100.00% 86.98%

Bond Geographic Breakdown

Weighting Return Low Return High DTLVX % Rank
US
7.04% 0.00% 66.93% 1.19%
Non US
0.00% 0.00% 11.12% 4.03%

DTLVX - Expenses

Operational Fees

DTLVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.32% 0.03% 14.82% 23.64%
Management Fee 0.75% 0.00% 1.50% 80.88%
12b-1 Fee 0.25% 0.00% 1.00% 24.33%
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

DTLVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 0.95% 5.00% N/A

Trading Fees

DTLVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

DTLVX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 87.00% 0.00% 488.00% 84.81%

DTLVX - Distributions

Dividend Yield Analysis

DTLVX Category Low Category High DTLVX % Rank
Dividend Yield 0.50% 0.00% 16.67% 93.94%

Dividend Distribution Analysis

DTLVX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Quarterly Quarterly

Net Income Ratio Analysis

DTLVX Category Low Category High DTLVX % Rank
Net Income Ratio 0.24% -1.51% 4.28% 92.50%

Capital Gain Distribution Analysis

DTLVX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Semi-Annually Annually

Distributions History

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DTLVX - Fund Manager Analysis

Managers

Daniel Allen


Start Date

Tenure

Tenure Rank

Apr 02, 2013

9.17

9.2%

As CEO and President, Mr. Allen is responsible for implementing the Mission, Vision and business strategies across the organization. In addition to day-to-day operations, key areas of interest include Diversity & Inclusion, ESG and technology enhancements. Mr. Allen is also a senior member of the Portfolio Management team, involved in developing global equity applications for clients along with servicing key relationships. Mr. Allen is a member of Los Angeles Capital’s Board of Managers and Investment Committee, and chairs the Management Committee. He also serves on the Board of Directors of Los Angeles Capital Global Funds plc and is Director of LACM Global, Ltd. Prior to joining Los Angeles Capital, Mr. Allen was a senior managing director and board member of Wilshire Associates. For more than twenty years, Mr. Allen held senior positions at Wilshire. Mr. Allen began in the Equity Management division and worked with several members of the Los Angeles Capital team. Mr. Allen assisted 100+ institutional money managers in applying risk models, performance attribution, and portfolio optimization techniques to their equity portfolios. Mr. Allen returned to Wilshire’s Consulting division to advise international investors and to head the firm’s international manager research. In 1998, Mr. Allen moved to Europe and spent the next decade leading Wilshire’s Private Markets group’s asset management activities in the region. In this capacity, he was responsible for sourcing and evaluating private equity opportunities while serving on the Global Investment Committee. Mr. Allen returned to Los Angeles in 2008 as a Management Committee member of the Private Markets group. Mr. Allen joined Los Angeles Capital in 2009.

Brian Timberlake


Start Date

Tenure

Tenure Rank

Jul 31, 2020

1.83

1.8%

Brian Timberlake is the head of fixed income research at Voya Investment Management and is responsible for managing the organization’s global fixed income research analysts as well as the coordination of macroeconomic data across the fixed income platform. Prior to this position, Mr. Timberlake was Head of Quantitative Research and before that, a Senior Quantitative Analyst. He joined Voya IM in 2003. His team is responsible for macro and quantitative fixed income research and provides additional assistance to individual sector groups and the risk management team. In addition, Brian is a named portfolio manager on several global and opportunistic fixed income products. Previously, he was the head of quantitative research where he helped develop an integrated, automated tool for interest rate hedging, created multifactor risk models, and was integral to the design and monitoring of customized client portfolios. Prior to that he was a senior quantitative analyst at Voya. Brian received a BS in chemical engineering from the University of Maryland, an MS in quantitative and computational finance from the Georgia Institute of Technology and a PhD in chemical engineering from the Georgia Institute of Technology. He holds the Chartered Financial Analyst® designation.

Sean Banai


Start Date

Tenure

Tenure Rank

Jul 31, 2020

1.83

1.8%

Sean Banai is head of portfolio management for the fixed income platform at Voya Investment Management. Previously, Sean was a senior portfolio manager and before that head of quantitative research for proprietary fixed income. Prior to joining the firm in 1999, he was a partner in a private sector company. Sean received a BA and an MS in actuarial science from Georgia State University. He holds the Chartered Financial Analyst® designation.

Suehyun Kim


Start Date

Tenure

Tenure Rank

Jul 31, 2020

1.83

1.8%

Suehyun Kim is a vice president of Wilshire Associates and portfolio manager within Wilshire Funds Management. Ms. Kim has over 19 years of industry experience and is responsible for creating multi-asset class, multi-manager investment solutions for financial intermediary clients. Prior to joining Wilshire Associates, Ms. Kim was an investment director at Cetera Financial Group, head of manager research for Cetera Investment Management, and a voting member of the Investment Committee. Previously, Ms. Kim worked as an investment analyst at Morgan Stanley Asset Management in domestic equity, then with Millgate Capital, a long/short fund focused on international equities. Ms. Kim earned her BA in liberal arts, with a major in economics, from Columbia College, Columbia University, and an MBA with a dual specialization in financial instruments and entertainment/media/technology from New York University’s Stern School of Business. Ms. Kim is a member of the New York Society of Security Analysts, 100 Women in Finance, and the Junior League of Los Angeles.

Nathan Palmer


Start Date

Tenure

Tenure Rank

Jul 31, 2020

1.83

1.8%

Nathan Palmer is a managing director of Wilshire Associates and heads Wilshire Funds Management’s Portfolio Management Group. Mr. Palmer has more than 20 years of industry experience and is responsible for creating multi-asset class, multi-manager investment solutions for financial intermediary clients. He is the Chair of Wilshire Funds Management’s Investment Committee and Retirement Oversight Committee. Prior to joining Wilshire Associates, Mr. Palmer provided investment advice to endowment, foundation, and family office clients at Convergent Wealth Advisors. Previously, he managed the public market investment portfolios for the endowment at the California Institute of Technology and for the defined benefit and defined contribution retirement assets at Intel Corporation. Mr. Palmer began his career as a securities analyst, where he published equity research on the technology, media, and telecom industries. Mr. Palmer graduated phi beta kappa and cum laude from the University of Washington with a BA in business administration. He holds an MBA with High Distinction from the Stern School of Business, New York University, graduating as an Armando John Garville Memorial Scholar. Mr. Palmer holds the Chartered Financial Analyst® designation and is an active member of CFA Institute and CFA Society Los Angeles.

Josh Emanuel


Start Date

Tenure

Tenure Rank

Jul 31, 2020

1.83

1.8%

Josh Emanuel, a managing director of Wilshire Associates, and chief investment officer for Wilshire Funds Management, joined Wilshire Associates in 2015. In his role as CIO, Mr. Emanuel leads the investment activities of Wilshire Funds Management, including asset allocation, manager research, portfolio management, and investment research. Mr. Emanuel also chairs the Wilshire Funds Management Investment Committee. From 2010 to May 2015, Mr. Emanuel served as chief investment officer of The Elements Financial Group, LLC (TEG), where he developed and managed a variety of outcome-oriented investment strategies and exchange traded funds. Mr. Emanuel also codeveloped an innovative technology solution which provides volatility-based risk profiling, risk budgeting, and compliance services to financial advisors and institutions. Prior to his tenure at TEG, Mr. Emanuel served in several roles at Wilshire from 2004-2010, including head of manager research, head of strategy for Wilshire Funds Management, and co-chairman of the Wilshire Funds Management Investment Committee. Prior to 2004, Mr. Emanuel was responsible for international manager research for Jeffrey Slocum & Associates, Inc. Mr. Emanuel has a BA in Finance from the University of Pittsburgh and holds the Chartered Financial Analyst designation.

Benjamin Stone


Start Date

Tenure

Tenure Rank

Jan 20, 2021

1.36

1.4%

Benjamin Stone, IIMR *Investment Officer *Equity Portfolio Manager *As an Equity Portfolio Manager, responsible for buy and sell decisions, portfolio construction, risk control and cash management. Participates in the research process and strategy discussions. *Joined MFS in 2005; previous positions include Equity Research Analyst. *Previous experience includes 9 years as Research Analyst at Schroders Investment Management. *Affiliations include Institute of Investment Management and Research. *Durham University, BA, 2:1

Daniel Arche


Start Date

Tenure

Tenure Rank

Apr 30, 2021

1.08

1.1%

Mr. Daniel Arche serves as a Senior Portfolio Manager, Managing Director & Investment Committee Member at Los Angeles Capital Management and Equity Research. As a Portfolio Manager, Mr. Arche is responsible for select client relationships and managing their accounts in accordance with Los Angeles Capital's investment philosophy and process. Mr. Arche works to ensure that portfolios reflect the investment outlook of the Model and that portfolios are operating within expected risk tolerances and guidelines. He recommends changes to portfolio parameters that will enhance return and better control risk. In addition, Mr. Arche is a day-to-day contact for clients for any questions that arise and is a primary contact for routine information requests. Mr. Arche is a member of the Firm's Investment Committee which is comprised of senior members of the investment team and is responsible for overseeing all decisions regarding improvements to the investment process. Mr. Arche is also a member of the Portfolio Review Committee which meets monthly to review portfolio performance and compliance with investment guidelines.

Judd Peters


Start Date

Tenure

Tenure Rank

Dec 20, 2021

0.44

0.4%

In his role as portfolio manager, Mr. Peters plays an integral part in the investment research review and decision-making process as well as coordinates the day-to-day management of Large Cap Fundamental Value, Large Cap Diversified Value, Small Cap Diversified Value and Global Value portfolios. He also provides expertise and insight into the capital goods, energy and technology sectors. Prior to joining the firm, Mr. Peters was an analyst in the corporate finance department of an investment banking firm. Mr. Peters, a CFA charterholder, received his BA in Mathematics and a BS in Biochemistry from University of California, San Diego.

Scott McBride


Start Date

Tenure

Tenure Rank

Dec 20, 2021

0.44

0.4%

Scott McBride serves as CEO and portfolio manager on the Large Cap Fundamental Value, Large Cap Diversified Value, Global Value and Focused Global Value portfolios. He covers technology companies and is a member of the consumer, technology, healthcare and financial sector teams. Prior to joining the firm in 2001, Mr. McBride was an associate consultant with Deloitte Consulting and worked as an investment marketing analyst with Fidelity Investments. Mr. McBride, a CFA charterholder, received his BA in Economics from Georgetown University and MBA from Columbia University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.05 86.59 8.09 6.71