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MassMutual Mid Cap Value Fund
mutual fund
MLULX
Payout Change
Pending
Price as of:
$13.72
-0.01
-0.07%
primary theme
U.S. Mid-Cap Value Equity
MLULX (Mutual Fund)
MassMutual Mid Cap Value Fund
Payout Change
Pending
Price as of:
$13.72
-0.01
-0.07%
primary theme
U.S. Mid-Cap Value Equity
MLULX (Mutual Fund)
MassMutual Mid Cap Value Fund
Payout Change
Pending
Price as of:
$13.72
-0.01
-0.07%
primary theme
U.S. Mid-Cap Value Equity
Name
As of 12/11/2024Price
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
Vitals
YTD Return
14.8%
1 yr return
19.3%
3 Yr Avg Return
6.3%
5 Yr Avg Return
8.2%
Net Assets
$69.1 M
Holdings in Top 10
13.2%
52 WEEK LOW AND HIGH
$13.7
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.29%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 134.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/11/2024Price
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
MLULX - Profile
Distributions
- YTD Total Return 14.8%
- 3 Yr Annualized Total Return 6.3%
- 5 Yr Annualized Total Return 8.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.98%
- Dividend Yield 1.1%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameMassMutual Mid Cap Value Fund
-
Fund Family NameMASSMUTUAL FUNDS
-
Inception DateAug 29, 2006
-
Shares OutstandingN/A
-
Share ClassAdmin
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerKevin Toney
Fund Description
Principal Investment Strategies
The Fund invests primarily in equity securities of mid-capitalization companies that the Fund’s subadvisers believe are undervalued. The Fund is managed by three subadvisers, American Century Investment Management, Inc. (“American Century”), PanAgora Asset Management, Inc. (“PanAgora”), and Thompson, Siegel & Walmsley LLC (“TSW”), each being responsible for a portion of the portfolio, although they may manage different amounts of the Fund’s assets. Equity securities may include common stocks, preferred stocks, securities convertible into common or preferred stock, stock futures contracts, stock index futures contracts, rights, and
warrants. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in the stocks of mid-cap companies. The Fund’s subadvisers currently define “mid-cap” companies as those whose market capitalizations at the time of purchase are within the market capitalization range of companies included in the Russell 1000® Index, excluding the largest 100 companies (as of December 31, 2023, between $270.19 million and $92.21 billion). The Fund’s dollar-weighted average market capitalization is expected to fall within the market capitalization range of companies included in the Russell Midcap® Index (as of December 31, 2023, between $270.19 million and $73.32 billion). The Fund typically invests most of its assets in equity securities of U.S. companies, but may gain exposure to non-U.S. issuers, including emerging markets issuers, through the purchase of foreign securities and American Depositary Receipts (“ADRs”). The Fund may also invest a portion of its assets in real estate investment trusts (“REITs”). The Fund may use futures contracts as a substitute for direct investments in equity securities. The Fund may but will not necessarily engage in foreign currency forward contracts to seek to hedge or to attempt to protect against adverse changes in currency exchange rates. Use of derivatives by the Fund may create investment leverage. The Fund may invest a portion of its assets in debt securities of companies and debt obligations of governments and their agencies, and other similar securities. The Fund may at times have significant exposure to one or more industries or sectors. The Fund may hold a portion of its assets in cash or cash equivalents.
American Century seeks to identify stocks of companies that it believes are undervalued at the time of purchase. American Century uses a value investment strategy that looks for companies that are temporarily out of favor in the market. American Century attempts to purchase the stocks of these undervalued companies and hold each stock until it has returned to favor in the market and the stock’s price has increased to, or is higher than, a level the managers believe more accurately reflects the fair value of the company. Companies may be undervalued due to market declines, poor economic conditions, actual or anticipated bad news regarding the issuer or its industry, or because they have been overlooked by the market. To identify these companies, American Century looks for companies with earnings, cash flows, and/or assets that may not be accurately reflected in the
companies’ values, as determined by the managers. The managers also may consider whether the companies’ securities have a favorable income-paying history and whether income payments are expected to continue or increase. American Century uses a variety of analytical research tools and techniques to help it make decisions about buying or holding securities of companies that meet its investment criteria and selling the securities of companies that do not.
American Century may sell a stock from the Fund if, for example, in its judgment, a stock no longer meets its valuation criteria, a stock’s risk parameters outweigh its return opportunity, more attractive alternatives are identified, or specific events alter a stock’s prospects.
PanAgora predicates its investment decisions for the Fund on the belief that stock prices are largely driven by the fundamental strengths or weaknesses of an underlying company’s business and, therefore, certain measures are indicative of a company’s likely success or failure. In selecting securities for the Fund, PanAgora uses quantitative analyses to identify companies that it believes are experiencing a mismatch between their share price and the prospects of the companies’ likely success or failure. This quantitative analysis combines in-depth fundamental insights with robust quantitative techniques, unique information, enhanced speed and process of the alpha forecast model, as well as diversification of alpha sources in an effort to protect downside risk. PanAgora’s sell discipline is integrated with its buy discipline to generate a portfolio that it believes has the most favorable risk/return characteristics. PanAgora generally will sell a security that may be poorly ranked by the alpha forecast model or that contributes to the Fund’s overall risk profile.
TSW seeks to invest in companies it believes present a value or potential worth that is not recognized by prevailing market prices or that have experienced some fundamental changes and are intrinsically undervalued by the investment community. In selecting investments for the Fund, TSW employs a relative value process utilizing a combination of quantitative and qualitative methods based on a four factor valuation screen designed to outperform the Russell Midcap Value Index. A portfolio composed of approximately 55-85 stocks is selected as a result of this process. TSW generally limits its investment universe to companies with a minimum of three years of operating history. From the screen approximately 20% of stocks are identified as candidates for
further research. These are the stocks that rank the highest on the basis of the four factors. TSW identifies a subset of stocks for bottom-up fundamental analysis on a routine basis and explores numerous factors that might affect the outlook of the company. TSW generally considers selling a security when the catalyst for the investment is no longer valid, when TSW believes that another stock will have a higher expected return, or for portfolio risk management.
The Fund expects that it will engage in active and frequent trading and so will typically have a relatively high portfolio turnover rate.
MLULX - Performance
Return Ranking - Trailing
| Period | MLULX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.8% | 4.1% | 35.1% | 63.61% |
| 1 Yr | 19.3% | 8.6% | 42.4% | 70.28% |
| 3 Yr | 6.3%* | -0.9% | 16.9% | 66.76% |
| 5 Yr | 8.2%* | 0.8% | 18.2% | 81.90% |
| 10 Yr | 8.2%* | 1.9% | 12.1% | 66.54% |
* Annualized
Return Ranking - Calendar
| Period | MLULX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.7% | -11.3% | 33.3% | 65.00% |
| 2022 | -13.3% | -41.6% | 2.3% | 46.35% |
| 2021 | -2.7% | -41.5% | 44.9% | 96.34% |
| 2020 | -0.7% | -29.0% | 22.1% | 62.18% |
| 2019 | 27.1% | -8.1% | 31.2% | 16.57% |
Total Return Ranking - Trailing
| Period | MLULX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 14.8% | 4.1% | 35.1% | 63.61% |
| 1 Yr | 19.3% | 8.6% | 42.4% | 70.28% |
| 3 Yr | 6.3%* | -0.9% | 16.9% | 66.76% |
| 5 Yr | 8.2%* | 0.8% | 18.2% | 81.90% |
| 10 Yr | 8.2%* | 1.9% | 12.1% | 66.54% |
* Annualized
Total Return Ranking - Calendar
| Period | MLULX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.1% | -1.7% | 36.5% | 88.61% |
| 2022 | -5.8% | -35.0% | 2.4% | 28.93% |
| 2021 | 24.8% | 6.2% | 48.3% | 81.13% |
| 2020 | 0.4% | -22.9% | 23.2% | 68.19% |
| 2019 | 29.0% | -3.0% | 35.7% | 32.84% |
NAV & Total Return History
MLULX - Holdings
Concentration Analysis
| MLULX | Category Low | Category High | MLULX % Rank | |
|---|---|---|---|---|
| Net Assets | 69.1 M | 991 K | 28 B | 87.81% |
| Number of Holdings | 287 | 8 | 2308 | 8.86% |
| Net Assets in Top 10 | 7.24 M | 349 K | 5.52 B | 95.57% |
| Weighting of Top 10 | 13.20% | 4.6% | 100.2% | 83.38% |
Top 10 Holdings
- FIXED INC CLEARING CORP.REPO 2.28%
- COMMON STOCK USD.01 1.45%
- COMMON STOCK 1.28%
- COMMON STOCK USD.01 1.25%
- COMMON STOCK 1.23%
- COMMON STOCK USD.01 1.19%
- COMMON STOCK USD.001 1.17%
- COMMON STOCK USD.01 1.17%
- COMMON STOCK USD5.0 1.10%
- COMMON STOCK USD.000304635 1.09%
Asset Allocation
| Weighting | Return Low | Return High | MLULX % Rank | |
|---|---|---|---|---|
| Stocks | 98.35% | 55.64% | 103.53% | 51.80% |
| Other | 2.27% | 0.00% | 7.98% | 6.65% |
| Cash | 0.33% | 0.00% | 27.43% | 76.18% |
| Preferred Stocks | 0.25% | 0.00% | 1.68% | 4.43% |
| Convertible Bonds | 0.00% | 0.00% | 0.02% | 40.39% |
| Bonds | 0.00% | 0.00% | 19.09% | 42.94% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MLULX % Rank | |
|---|---|---|---|---|
| Financial Services | 18.07% | 0.00% | 60.11% | 51.81% |
| Healthcare | 11.52% | 0.00% | 32.47% | 22.84% |
| Utilities | 9.93% | 0.00% | 24.69% | 9.75% |
| Industrials | 9.85% | 0.00% | 29.02% | 85.52% |
| Consumer Cyclical | 9.09% | 0.00% | 29.62% | 74.65% |
| Technology | 8.97% | 0.00% | 30.07% | 58.50% |
| Consumer Defense | 7.79% | 0.00% | 33.79% | 22.28% |
| Real Estate | 7.67% | 0.00% | 40.74% | 57.38% |
| Energy | 7.54% | 0.00% | 29.17% | 47.35% |
| Communication Services | 5.86% | 0.00% | 19.80% | 18.38% |
| Basic Materials | 3.71% | 0.00% | 23.88% | 73.54% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MLULX % Rank | |
|---|---|---|---|---|
| US | 95.36% | 55.64% | 103.53% | 73.41% |
| Non US | 2.99% | 0.00% | 33.85% | 16.62% |
MLULX - Expenses
Operational Fees
| MLULX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.29% | 0.06% | 16.92% | 27.50% |
| Management Fee | 0.70% | 0.00% | 1.20% | 47.09% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.30% | 0.01% | 0.40% | 97.94% |
Sales Fees
| MLULX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| MLULX 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.
| MLULX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 134.00% | 0.00% | 227.00% | 94.83% |
MLULX - Distributions
Dividend Yield Analysis
| MLULX | Category Low | Category High | MLULX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.11% | 0.00% | 22.79% | 61.94% |
Dividend Distribution Analysis
| MLULX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| MLULX | Category Low | Category High | MLULX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.98% | -1.84% | 4.73% | 35.20% |
Capital Gain Distribution Analysis
| MLULX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 13, 2023 | $0.153 | OrdinaryDividend |
| Dec 14, 2022 | $0.983 | OrdinaryDividend |
| Dec 16, 2021 | $0.102 | OrdinaryDividend |
| Dec 16, 2021 | $2.141 | CapitalGainShortTerm |
| Dec 16, 2021 | $1.317 | CapitalGainLongTerm |
| Dec 14, 2020 | $0.146 | OrdinaryDividend |
| Dec 16, 2019 | $0.194 | OrdinaryDividend |
| Dec 17, 2018 | $0.473 | CapitalGainShortTerm |
| Dec 17, 2018 | $1.093 | CapitalGainLongTerm |
| Dec 17, 2018 | $0.124 | OrdinaryDividend |
| Dec 15, 2017 | $1.112 | CapitalGainShortTerm |
| Dec 15, 2017 | $0.994 | CapitalGainLongTerm |
| Dec 15, 2017 | $0.166 | OrdinaryDividend |
| Dec 15, 2016 | $0.264 | CapitalGainShortTerm |
| Dec 15, 2016 | $0.186 | OrdinaryDividend |
| Dec 15, 2015 | $0.079 | CapitalGainShortTerm |
| Dec 15, 2015 | $1.919 | CapitalGainLongTerm |
| Dec 15, 2015 | $0.068 | OrdinaryDividend |
| Aug 28, 2015 | $0.155 | CapitalGainLongTerm |
| Dec 15, 2014 | $0.229 | CapitalGainLongTerm |
| Dec 15, 2014 | $0.110 | OrdinaryDividend |
| Dec 16, 2013 | $0.127 | OrdinaryDividend |
| Dec 17, 2012 | $0.134 | OrdinaryDividend |
| Dec 15, 2010 | $0.101 | OrdinaryDividend |
| Aug 25, 2010 | $0.001 | ExtraDividend |
| Dec 15, 2009 | $0.062 | OrdinaryDividend |
| Dec 18, 2008 | $0.102 | OrdinaryDividend |
| Aug 25, 2008 | $0.012 | ExtraDividend |
| Aug 25, 2008 | $0.000 | CapitalGainShortTerm |
| Aug 25, 2008 | $0.000 | CapitalGainLongTerm |
| Dec 14, 2007 | $0.054 | OrdinaryDividend |
| Dec 04, 2007 | $0.624 | CapitalGainShortTerm |
| Dec 04, 2007 | $0.001 | CapitalGainLongTerm |
| Aug 27, 2007 | $0.006 | CapitalGainShortTerm |
| Dec 22, 2006 | $0.014 | OrdinaryDividend |
| Dec 22, 2006 | $0.012 | CapitalGainShortTerm |
MLULX - Fund Manager Analysis
Managers
Kevin Toney
Start Date
Tenure
Tenure Rank
Sep 09, 2015
6.73
6.7%
Kevin Toney, CFA, CIO, senior vice president and senior portfolio manager for American Century Investments, joined the company in 1999 as an investment analyst and became a portfolio manager in 2006. Kevin is responsible for the teams that manage the company’s value and real estate equity strategies that comprise the firm’s Global Value Equity discipline. Before joining American Century Investments, Kevin was an associate in the M&A group of Toronto Dominion Securities. He has worked in the investment industry since 1993.
Brian Woglom
Start Date
Tenure
Tenure Rank
Sep 09, 2015
6.73
6.7%
Brian is a member of the team of investment professionals managing the U.S. Value Yield, U.S. Value, U.S. Large Cap Value, U.S. Mid Cap Value and U.S. Equity Market Neutral Value strategies and related accounts, and he co-manages U.S. Large Cap Value, U.S. Value, U.S. Mid Cap Value and U.S. Equity Market Neutral Value. He joined American Century Investments in 2005. Previously, Brian was an investment analyst for Argo Partners and an analyst for the portfolio management unit of Metropolitan Life Insurance Co. He has worked in the investment industry since 1998. Brian earned a bachelor's degree in economics from Amherst College and a master’s degree in business administration from the University of Michigan. He is a CFA® charterholder and a member of the CFA Institute.
Phillip Davidson
Start Date
Tenure
Tenure Rank
Sep 09, 2015
6.73
6.7%
Mr. Davidson, CFA, is a senior vice president and executive portfolio manager for American Century Investments. Prior to joining American Century in 1993, Phil was vice president and equity portfolio manager for Boatmen’s Trust Company in St. Louis. During his 11 years at Boatmen’s, he specialized in the management of institutional equity accounts using a value-oriented investment style. He has worked in the financial industry since 1980. Phil holds a bachelor’s degree in business administration and a master’s degree in finance from Illinois State University.
Michael Liss
Start Date
Tenure
Tenure Rank
Sep 09, 2015
6.73
6.7%
Michael Liss, CFA, is Vice President and Senior Portfolio Manager of American Century. Mr. Liss has been with American Century since 1998. He holds a bachelor’s degree in accounting and finance from Albright College and an MBA in finance from Indiana University.
Brett Hawkins
Start Date
Tenure
Tenure Rank
Mar 31, 2021
1.17
1.2%
Joined TSW in 2001 University of Richmond, BA, 1993; University of Virginia, Darden School, MBA, 1999 Arthur Andersen LLP - Senior Associate First Union Corporation - Assistant Vice President, Equity Research
R. Michael Creager
Start Date
Tenure
Tenure Rank
Mar 31, 2021
1.17
1.2%
Western Kentucky University, BS, 1993; Hofstra University, MBA, 1995 Providian Capital Management Corp.- AVP, Financial Analyst A.G. Edwards & Sons, Inc. - AVP, Associate Equity Analyst Wachovia Securities, LLC - AVP, Associate Equity Analyst BB&T Capital Markets - Vice President, Equity Analyst
George Mussalli
Start Date
Tenure
Tenure Rank
Mar 31, 2021
1.17
1.2%
Mr. Mussalli is the Chief Investment Officer and Head of Research, Equity at PanAgora. He is responsible for the oversight of the firm’s Dynamic and Stock Selector Equity strategies, as well as the Equity Trading & Implementation, Data Science, and Portfolio Strategy teams. He is also a member of the firm’s Investment, Operating, Risk, and Directors Committees. As the Chief Investment Officer of Equity Investments, Mr. Mussalli directs innovative equity research used in the development of models implemented in PanAgora’s equity strategies. Mr. Mussalli’s current focus is centered on combining
Richard Tan
Start Date
Tenure
Tenure Rank
Mar 31, 2021
1.17
1.2%
Mr. Tan is a Managing Director at the firm and leads the Stock Selector Equity Team. His primary responsibilities include oversight and management of the team, conducting research to uncover new alpha sources, building quantitative stock selection models, and managing portfolios within the Stock Selector Equity strategies. Mr. Tan is a key contributor to the innovative equity research used in the development of PanAgora’s Stock Selector models.
Nathan Rawlins
Start Date
Tenure
Tenure Rank
Mar 15, 2022
0.21
0.2%
Mr. Rawlins, Portfolio Manager and Senior Investment Analyst, has been a member of the team that manages the fund since joining American Century in 2015 as an investment analyst. He became a senior investment analyst in 2020 and a portfolio manager in 2022. He has a bachelor’s degree from the University of Kansas and an MBA from the Kelley School of Business, Indiana University. He is a CFA charterholder.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.59 | 8.15 | 10.92 |
